00:01

I just got a text message that says, let's get some estrogen in this bitch. That's right. We have a guest host today. Sam is out. He had a baby. Congratulations to him. But we have Codie Sanchez here to take his place. And Codie texted me because she says I got a bunch of ideas

I just got a text message that says, let's get some estrogen in this bitch. That's right. We have a guest host today. Sam is out. He had a baby. Congratulations to him. But we have Codie Sanchez here to take his place. And Codie texted me because she says I got a bunch of ideas

00:15

for dudes who don't understand the women's market. And, they're not playing these games. There's less competition, but these are big opportunities.

for dudes who don't understand the women's market. And, they're not playing these games. There's less competition, but these are big opportunities.

00:22

So she said she's got four ideas that are blind spots for men, but that the women will understand. So for the four female listeners out there. This is your day. Today is your day. The moment you've been waiting for, it only took us five hundred episodes to make an episode that is catered around ideas for the the market for women. I could barely even say it. I don't even understand. I'm excited to see what she says. The second thing that I'm gonna do is Codie is always on social media talking about buying laundromats. And I'm gonna ask her. I'm gonna ask her, Codie, do you really buy fucking laundromats? And do these make money? And why are you buying these things? So that's what's coming in the second half of the episode. And at the end, I'm gonna ask her about her content game because she's built up following. Got millions of followers now. She said she does a hundred million impressions a month across all her channels. And this is all kind of in three years. So she's built an amazing social brand. But with that comes, a bunch of haters and people saying that she's just like a a business guru or a grifter. So I'm gonna ask her straight up. I'm gonna say, hey, what's the deal? Codie, are you a grifter? And what's your response to that? Address the haters. And we're gonna ask her to address the haters. So that's what's in this episode. Hope you enjoy. This episode with our guest host, Codie Sanchez.

So she said she's got four ideas that are blind spots for men, but that the women will understand. So for the four female listeners out there. This is your day. Today is your day. The moment you've been waiting for, it only took us five hundred episodes to make an episode that is catered around ideas for the the market for women. I could barely even say it. I don't even understand. I'm excited to see what she says. The second thing that I'm gonna do is Codie is always on social media talking about buying laundromats. And I'm gonna ask her. I'm gonna ask her, Codie, do you really buy fucking laundromats? And do these make money? And why are you buying these things? So that's what's coming in the second half of the episode. And at the end, I'm gonna ask her about her content game because she's built up following. Got millions of followers now. She said she does a hundred million impressions a month across all her channels. And this is all kind of in three years. So she's built an amazing social brand. But with that comes, a bunch of haters and people saying that she's just like a a business guru or a grifter. So I'm gonna ask her straight up. I'm gonna say, hey, what's the deal? Codie, are you a grifter? And what's your response to that? Address the haters. And we're gonna ask her to address the haters. So that's what's in this episode. Hope you enjoy. This episode with our guest host, Codie Sanchez.

01:35

Okay.

Okay.

01:36

What's up? We got Codie Sanchez in the house. Guest host. Congrats to Sam. He had his baby. He's out on,

What's up? We got Codie Sanchez in the house. Guest host. Congrats to Sam. He had his baby. He's out on,

01:42

on daddy leave, Patty leave, whatever whatever people call it it nowadays. He is,

on daddy leave, Patty leave, whatever whatever people call it it nowadays. He is,

01:47

going skin to skin. He is swaddling. He is diaper changing. I'm sure he's doing all those things. Haven't actually asked him because gotta get the man some space. But, I decided while Sam's out, I wanna have guest hosts. So not just a guest, but a guest host. And what I mean by that is, here's the criteria.

going skin to skin. He is swaddling. He is diaper changing. I'm sure he's doing all those things. Haven't actually asked him because gotta get the man some space. But, I decided while Sam's out, I wanna have guest hosts. So not just a guest, but a guest host. And what I mean by that is, here's the criteria.

02:03

Somebody who I already know and like, so a friend, friend of the house. Number two is they gotta know the vibe. So they live listen to MFM. They know that what this podcast is all about is talking about ideas, opportunities, or interesting businesses that not everybody knows about. So they gotta come prepared with that. And, it's like a host. So you're taking the role of Sam, Codie. How does that feel? Are you are you ready to be Sam? Do do I have to drink soda's water?

Somebody who I already know and like, so a friend, friend of the house. Number two is they gotta know the vibe. So they live listen to MFM. They know that what this podcast is all about is talking about ideas, opportunities, or interesting businesses that not everybody knows about. So they gotta come prepared with that. And, it's like a host. So you're taking the role of Sam, Codie. How does that feel? Are you are you ready to be Sam? Do do I have to drink soda's water?

02:29

If I also co host, is that? You know Sam really, really well. You've hung out with him in person. So I feel like you got his, you know, his vibe.

If I also co host, is that? You know Sam really, really well. You've hung out with him in person. So I feel like you got his, you know, his vibe.

02:36

Yeah. Totally. Yeah. No. Sam was a dear friend, and so is Sarah, and I think they're gonna make hell of parents. So I'm stoked. But, yes, those are big, huge, giant, shoes, and he's a giant man to fill. So I'll try to do the best I can.

Yeah. Totally. Yeah. No. Sam was a dear friend, and so is Sarah, and I think they're gonna make hell of parents. So I'm stoked. But, yes, those are big, huge, giant, shoes, and he's a giant man to fill. So I'll try to do the best I can.

02:49

And, for people who don't know, give us, like, the thirty seconds, you know, who who are you, so that people understand who, you know, who they're messing with. Yeah. While I run something called contrarian thinking, which is probably how people know about me on the internet, That's a newsletter. Actually, like, slightly inspired by Sam and our other friends at morning bro.

And, for people who don't know, give us, like, the thirty seconds, you know, who who are you, so that people understand who, you know, who they're messing with. Yeah. While I run something called contrarian thinking, which is probably how people know about me on the internet, That's a newsletter. Actually, like, slightly inspired by Sam and our other friends at morning bro.

03:06

It's got a couple hundred thousand subscribers now, hoping to get to the million by the end of the year. And that media company overall gets about a hundred million views a month, like five million subscribers, which is kinda cool. And I talk on the internet about boring businesses and stuff that I've invested in for a long time. So for forever, I'm, like, old for the internet. But for forever,

It's got a couple hundred thousand subscribers now, hoping to get to the million by the end of the year. And that media company overall gets about a hundred million views a month, like five million subscribers, which is kinda cool. And I talk on the internet about boring businesses and stuff that I've invested in for a long time. So for forever, I'm, like, old for the internet. But for forever,

03:24

I was an investment banking and private equity and buying small businesses like private equity people do. And then just holding them in, I guess, Like the real way to say it would be a family office.

I was an investment banking and private equity and buying small businesses like private equity people do. And then just holding them in, I guess, Like the real way to say it would be a family office.

03:34

And then that became bigger. So we turned it into a holding company. And now we buy what I call small boring businesses, and then talk to other people about how to do the same. So you sent me this notion doc that can only be described as prolific, epic,

And then that became bigger. So we turned it into a holding company. And now we buy what I call small boring businesses, and then talk to other people about how to do the same. So you sent me this notion doc that can only be described as prolific, epic,

03:49

it's got, like, thirty

it's got, like, thirty

03:51

genuinely interesting,

genuinely interesting,

03:52

ideas or opportunities in this. We're not gonna get through all of them. But I bucketed some of them into, category one, So to opportunity one, you called, let's get some estrogen in this bitch. Go ahead. I'll take the floor.

ideas or opportunities in this. We're not gonna get through all of them. But I bucketed some of them into, category one, So to opportunity one, you called, let's get some estrogen in this bitch. Go ahead. I'll take the floor.

04:04

I feel like because I am a legitimate fan of the pod.

I feel like because I am a legitimate fan of the pod.

04:08

I know. I know my fellow, pod listeners. And the idea was that for everybody on Twitter,

I know. I know my fellow, pod listeners. And the idea was that for everybody on Twitter,

04:15

Broane, who typically listens to this podcast,

Broane, who typically listens to this podcast,

04:18

maybe there's this like segment of the market with a little bit more estrogen than you guys have, that we could steal our homework. And there are all these businesses that, like, I would love to see more of. And so since people in the pod actually go out there and do things and build these businesses, we'll give you some ideas. I don't know where you wanna start, but I basically was joking with your your producer. And I was like, is this legitimate or is Cody crazy? And she was like, she said explicitly, I feel like you saw into my soul. And it's so, it's safe to say women everywhere I think will like these ideas or you'll tell us if you hate it on the internet. Yeah. I've known producer Ari for she she's been with us for, like, two weeks now, three weeks maybe, and,

maybe there's this like segment of the market with a little bit more estrogen than you guys have, that we could steal our homework. And there are all these businesses that, like, I would love to see more of. And so since people in the pod actually go out there and do things and build these businesses, we'll give you some ideas. I don't know where you wanna start, but I basically was joking with your your producer. And I was like, is this legitimate or is Cody crazy? And she was like, she said explicitly, I feel like you saw into my soul. And it's so, it's safe to say women everywhere I think will like these ideas or you'll tell us if you hate it on the internet. Yeah. I've known producer Ari for she she's been with us for, like, two weeks now, three weeks maybe, and,

04:54

I've never seen her smiling this hard. She's so excited for this segment. So I wanna do the one that that stood out to me right away. You you said the traditional wife movement. Oh, yeah.

I've never seen her smiling this hard. She's so excited for this segment. So I wanna do the one that that stood out to me right away. You you said the traditional wife movement. Oh, yeah.

05:04

I think the best business ideas start with, like, a,

I think the best business ideas start with, like, a,

05:07

a behavioral observation.

a behavioral observation.

05:09

So just a behavioral phenomenon, you notice people doing thing or you notice the pendulum swinging

So just a behavioral phenomenon, you notice people doing thing or you notice the pendulum swinging

05:14

where people used to feel one way or the popular sentiment is one thing, but you notice people starting to gravitate towards the other end of that, of that spectrum,

where people used to feel one way or the popular sentiment is one thing, but you notice people starting to gravitate towards the other end of that, of that spectrum,

05:22

that's usually where there's, like, a real real opportunity. So what's what's an observation here that you have? Yeah. So so if people don't know trad wife movement. I find it fascinating. And basically, well, how I came across it as one does is I was on Instagram, scrolling my life away. And I saw this, like, beautiful woman, flowy dress,

that's usually where there's, like, a real real opportunity. So what's what's an observation here that you have? Yeah. So so if people don't know trad wife movement. I find it fascinating. And basically, well, how I came across it as one does is I was on Instagram, scrolling my life away. And I saw this, like, beautiful woman, flowy dress,

05:40

no shoes running through, like, what I could only describe as a field that was her house. And,

no shoes running through, like, what I could only describe as a field that was her house. And,

05:46

and overlaid on top of it, she had, like, a little child in front of her, and it was, like, girl boss question mark.

and overlaid on top of it, she had, like, a little child in front of her, and it was, like, girl boss question mark.

05:52

I wanna be a hobbit mama. And I was just, like, giggling kind of ridiculously at this. And then I thought, well, I kinda I kinda feel that. Like, I feel like We we know from COVID. Everybody, like, wanted to go be a gentleman farmer. Right? I think you guys talked about that. But this is like the two point o version. And so

I wanna be a hobbit mama. And I was just, like, giggling kind of ridiculously at this. And then I thought, well, I kinda I kinda feel that. Like, I feel like We we know from COVID. Everybody, like, wanted to go be a gentleman farmer. Right? I think you guys talked about that. But this is like the two point o version. And so

06:07

What happened from this one video I saw is that Instagram realized I watched it longer than I guess I do other things. So I got served up all this stuff And boy before you fucking know it, Sean, I buy some white pumpkins,

What happened from this one video I saw is that Instagram realized I watched it longer than I guess I do other things. So I got served up all this stuff And boy before you fucking know it, Sean, I buy some white pumpkins,

06:20

some flowers to press on to them, and I'm fucking gluing pansies on a pumpkin. Now You actually know me? They're like, I don't have hobbies. Like, all I do is work. We run a bunch of businesses. I'm like, not that fun. And I'm I'm in front of the TV, gluing pumpkins. And that's when I realized, I think this is gonna be huge. So I looked up the TikTok,

some flowers to press on to them, and I'm fucking gluing pansies on a pumpkin. Now You actually know me? They're like, I don't have hobbies. Like, all I do is work. We run a bunch of businesses. I'm like, not that fun. And I'm I'm in front of the TV, gluing pumpkins. And that's when I realized, I think this is gonna be huge. So I looked up the TikTok,

06:38

views for this search of tradwife.

views for this search of tradwife.

06:40

A hundred and eighty seven million, which was wild, and we could, like, play with a bunch of different ideas, but then I was, like,

A hundred and eighty seven million, which was wild, and we could, like, play with a bunch of different ideas, but then I was, like,

06:47

maybe this is counterculture movement to the call her daddy move, which, like, used to be the top of the charts,

maybe this is counterculture movement to the call her daddy move, which, like, used to be the top of the charts,

06:54

and looks like it's come down from top one or two podcasts at top twenty to thirty. On the charts. And so the idea is how could we play to that market?

and looks like it's come down from top one or two podcasts at top twenty to thirty. On the charts. And so the idea is how could we play to that market?

07:04

Our software is the worst. Have you heard of HubSpot?

Our software is the worst. Have you heard of HubSpot?

07:07

See most CRMs are a cobbled together mess, but HubSpot is easy to adopt and actually looks gorgeous. They kind of love our new CRM. Our software is the best. Hub.

See most CRMs are a cobbled together mess, but HubSpot is easy to adopt and actually looks gorgeous. They kind of love our new CRM. Our software is the best. Hub.

07:18

So,

So,

07:19

first of all, do you feel threatened? No. I feel like you're the girl boss, like, you you are in the the top ranking. Somebody said, oh, name, like, five girl boss people. I'd be like, oh, Sophia Marosa, then I'd say you. Like, I feel like that's kinda you.

first of all, do you feel threatened? No. I feel like you're the girl boss, like, you you are in the the top ranking. Somebody said, oh, name, like, five girl boss people. I'd be like, oh, Sophia Marosa, then I'd say you. Like, I feel like that's kinda you.

07:34

In terms of your public image, do you look at this like, you know, kryptonite in in some way where you're like, oh, shit. They're going the other way now. What what what do you what's your reaction to this? Well, like, honestly, that whole girl boss boss babe, babe's boss's money, like, I wanna die. I wanna die on the inside anytime I see any of those names? I remember once I got invited to a speech and they were like, we need a female CEO,

In terms of your public image, do you look at this like, you know, kryptonite in in some way where you're like, oh, shit. They're going the other way now. What what what do you what's your reaction to this? Well, like, honestly, that whole girl boss boss babe, babe's boss's money, like, I wanna die. I wanna die on the inside anytime I see any of those names? I remember once I got invited to a speech and they were like, we need a female CEO,

07:56

to speak here. And I was like, I'm really unclear what my vagina has. To do about this. And the guy was like, it's, like, I could just feel him shriveled. Right. You know, honest email. Like, I was like, I don't think it's relevant.

to speak here. And I was like, I'm really unclear what my vagina has. To do about this. And the guy was like, it's, like, I could just feel him shriveled. Right. You know, honest email. Like, I was like, I don't think it's relevant.

08:06

So I'm kinda curious. I'm hugely biased. So who knows if I'm right? But,

So I'm kinda curious. I'm hugely biased. So who knows if I'm right? But,

08:11

I'm happily married. I'm like a very big family gal. Like, I I don't talk about sex on the internet, like call her daddy. I think you should do whatever you want. Just not my jam.

I'm happily married. I'm like a very big family gal. Like, I I don't talk about sex on the internet, like call her daddy. I think you should do whatever you want. Just not my jam.

08:19

So I'm kinda curious. Like, we have these two worlds for so long. Right? You were either single

So I'm kinda curious. Like, we have these two worlds for so long. Right? You were either single

08:25

crazy femme, you know, Don't need no man independent.

crazy femme, you know, Don't need no man independent.

08:29

Right. Or you were traditional

Right. Or you were traditional

08:31

stay at home, you know, protect the the familiar unit.

stay at home, you know, protect the the familiar unit.

08:35

And I just think both seem sort of ridiculous. So can't we have people who, like, I don't know. Both people have some sorts of hobbies and work. And that, maybe just wishful thinking because the world's too polarized for that. Well, I think, to I totally agree with you, and I think that, obviously, we In a way, we simplify ourselves to make ourselves a great brand. Like, the simpler the logo, the simpler the slogan, the simpler the the the the less three-dimensional you are, the easier it is as a brand initially.

And I just think both seem sort of ridiculous. So can't we have people who, like, I don't know. Both people have some sorts of hobbies and work. And that, maybe just wishful thinking because the world's too polarized for that. Well, I think, to I totally agree with you, and I think that, obviously, we In a way, we simplify ourselves to make ourselves a great brand. Like, the simpler the logo, the simpler the slogan, the simpler the the the the less three-dimensional you are, the easier it is as a brand initially.

09:03

And then, of course, you're like, no. No. No. But I'm I have all these layers. You know, I I do have the soft side. I do have the soft side. Right? Like, I do this. Every anybody who's built a brand on the internet does this. You first simplify,

And then, of course, you're like, no. No. No. But I'm I have all these layers. You know, I I do have the soft side. I do have the soft side. Right? Like, I do this. Every anybody who's built a brand on the internet does this. You first simplify,

09:14

and then you try to add depth.

and then you try to add depth.

09:17

And so,

And so,

09:18

the downside of the simple the upside of the simplify is you get a whole bunch of followers. A bunch of people know you boring businesses and kicking ass in the in the business world. People know when he started for this when he started up thing. They don't wanna hear his stock picks. They don't wanna hear his other stuff because it's not

the downside of the simple the upside of the simplify is you get a whole bunch of followers. A bunch of people know you boring businesses and kicking ass in the in the business world. People know when he started for this when he started up thing. They don't wanna hear his stock picks. They don't wanna hear his other stuff because it's not

09:33

on brand for him. And, of course, people do wanna shift over time. What I find interesting in this, like,

on brand for him. And, of course, people do wanna shift over time. What I find interesting in this, like,

09:39

this observation of, I actually think there's three I think there's the caller daddy, which I'll I'll put in there, which is like

this observation of, I actually think there's three I think there's the caller daddy, which I'll I'll put in there, which is like

09:46

the

the

09:47

sex positive sort of like, girls can be players too.

sex positive sort of like, girls can be players too.

09:51

It's more of a relationship empowerment thing, but not so much career. Then you have the career work empowerment, which is like, you know, like you said, what does my vagina have anything to do with this? And then you have the sort of traditional values. And of course, people float between all three depending on the day, the situation, the phase of life that they're in, etcetera.

It's more of a relationship empowerment thing, but not so much career. Then you have the career work empowerment, which is like, you know, like you said, what does my vagina have anything to do with this? And then you have the sort of traditional values. And of course, people float between all three depending on the day, the situation, the phase of life that they're in, etcetera.

10:10

I've definitely noticed this movement coming because my wife is exactly like this. She's like

I've definitely noticed this movement coming because my wife is exactly like this. She's like

10:16

she's like, yeah. It's I can't say this, like, out in the world. But I kinda like gender roles. Like, I just want you to take out the trash, and I'm down to do this stuff with the kids. And I I just want you to always drive and, like, She's like, why? I don't wanna fight all this. And she's also like

she's like, yeah. It's I can't say this, like, out in the world. But I kinda like gender roles. Like, I just want you to take out the trash, and I'm down to do this stuff with the kids. And I I just want you to always drive and, like, She's like, why? I don't wanna fight all this. And she's also like

10:31

she's work she worked really hard. She had a better career than me, when we met and stuff like that. Like, she was totally good at that, but she also was like, yeah, I really wanna be stay home wife. Like, that's my next phase.

she's work she worked really hard. She had a better career than me, when we met and stuff like that. Like, she was totally good at that, but she also was like, yeah, I really wanna be stay home wife. Like, that's my next phase.

10:41

You know, I I want that. I just wanna do house stuff. And, like, that's where her mindset was at at the time.

You know, I I want that. I just wanna do house stuff. And, like, that's where her mindset was at at the time.

10:48

And so it is very and but I but I noticed that she couldn't really come out and say that. And anytime there's, like,

And so it is very and but I but I noticed that she couldn't really come out and say that. And anytime there's, like,

10:56

there's a

there's a

10:57

belief or behavior

belief or behavior

10:59

that can't be said There's an opportunity. This is what Trump capitalized on when he became president. Was there was a bunch of thoughts in people's heads that he was the only guy willing to say out loud.

that can't be said There's an opportunity. This is what Trump capitalized on when he became president. Was there was a bunch of thoughts in people's heads that he was the only guy willing to say out loud.

11:08

And and there's a whole bunch of examples of this in business where there are,

And and there's a whole bunch of examples of this in business where there are,

11:13

like, Grindr is a good example of this. There was a behavior

like, Grindr is a good example of this. There was a behavior

11:16

that was happening that was not compatible with traditional dating and Grindor came in and enabled that spoke to that and was able to do it even though it was somewhat taboo.

that was happening that was not compatible with traditional dating and Grindor came in and enabled that spoke to that and was able to do it even though it was somewhat taboo.

11:24

And they're and they're not always in these, like, sketchy areas. Another example of that would be,

And they're and they're not always in these, like, sketchy areas. Another example of that would be,

11:30

Snapchat. So

Snapchat. So

11:31

when everything became public and permanent, consider Facebook was the big social network, and then Instagram was a big social network, and it was, like, perfectly filtered photos,

when everything became public and permanent, consider Facebook was the big social network, and then Instagram was a big social network, and it was, like, perfectly filtered photos,

11:40

publicly on display, not even for your friends and family for all your followers, and it goes on your feed. And then you had Snapchat come out, which was like, make a silly face is gonna disappear at five seconds. And so it's like the the bigger one thing gets, the craving

publicly on display, not even for your friends and family for all your followers, and it goes on your feed. And then you had Snapchat come out, which was like, make a silly face is gonna disappear at five seconds. And so it's like the the bigger one thing gets, the craving

11:52

grows for the opposite, for the other, for the anti, whatever the current thing is. That's true. Well, even I mean, you can see it if you look at the Kardashians' body types, for instance. Like, they were like, you know, they were they had a lot of butt It had a lot of up top. They had a lot of curve going on there for a minute. And that became the the door. Right? You saw like people getting fillers that were huge. I mean, huge.

grows for the opposite, for the other, for the anti, whatever the current thing is. That's true. Well, even I mean, you can see it if you look at the Kardashians' body types, for instance. Like, they were like, you know, they were they had a lot of butt It had a lot of up top. They had a lot of curve going on there for a minute. And that became the the door. Right? You saw like people getting fillers that were huge. I mean, huge.

12:14

Industry, cosmetology, and and men's spas experience the biggest

Industry, cosmetology, and and men's spas experience the biggest

12:18

growth increase,

growth increase,

12:19

during any historical period at the US, which is Wild. We looked at investing in a couple of them. And I was like, the margins these places make are is incredible.

during any historical period at the US, which is Wild. We looked at investing in a couple of them. And I was like, the margins these places make are is incredible.

12:27

And then what do you see now? The Kardashians, if you're up up to the know now, Sean. The Kardashians now are like removing their Brazilian butt lifts. They're taking out fillers. There's like that one Black Chyna She, like, got rid of everything. I guess she had a ton of stuff. Right. And so I think even the the really, really big celebrities are starting to realize, oh, like, the trend is changing. And so if you're, you're as as as committed to the cause as those ladies are. You change your whole body, which is wild.

And then what do you see now? The Kardashians, if you're up up to the know now, Sean. The Kardashians now are like removing their Brazilian butt lifts. They're taking out fillers. There's like that one Black Chyna She, like, got rid of everything. I guess she had a ton of stuff. Right. And so I think even the the really, really big celebrities are starting to realize, oh, like, the trend is changing. And so if you're, you're as as as committed to the cause as those ladies are. You change your whole body, which is wild.

12:56

Yeah. That's one way to look at it for sure. Remember the first time I heard BBL. I thought somebody was talking about, like, a basketball league, like, a Brazilian basketball league, and I was like, oh, this this could be a great conversation. And then I quickly realized I was completely out of my depth. I had no idea what anyone's talking about. But it's true. Right? Like, the Jenner,

Yeah. That's one way to look at it for sure. Remember the first time I heard BBL. I thought somebody was talking about, like, a basketball league, like, a Brazilian basketball league, and I was like, oh, this this could be a great conversation. And then I quickly realized I was completely out of my depth. I had no idea what anyone's talking about. But it's true. Right? Like, the Jenner,

13:11

Kendall Jenner, whatever, like, totally opposite body type as as Kim Kardashian. Right? So he's,

Kendall Jenner, whatever, like, totally opposite body type as as Kim Kardashian. Right? So he's,

13:16

I guess, like a sign of the times. So what would you do off this? So you notice

I guess, like a sign of the times. So what would you do off this? So you notice

13:20

the tradWife movement. You see the TikTok views going up. You see people in more in this lifestyle. You start buying white pumpkins and hot gluing live laugh love on them. So

the tradWife movement. You see the TikTok views going up. You see people in more in this lifestyle. You start buying white pumpkins and hot gluing live laugh love on them. So

13:29

what what happens next? What's the opportunity here? Okay. Well, a couple of them that I thought were fascinating. So one is, I'm sure you don't spend your time on the weekend here, but a bunch of chicks and people do in general. It's called Hobby Lobby. And, basically, it's, you know, crafting.

what what happens next? What's the opportunity here? Okay. Well, a couple of them that I thought were fascinating. So one is, I'm sure you don't spend your time on the weekend here, but a bunch of chicks and people do in general. It's called Hobby Lobby. And, basically, it's, you know, crafting.

13:43

But if you think about what the store looks like, it looks like kind of a gnarly CVS, right, fluorescent lights, everything's a little dirty, too much stuff crammed in there. Why does anybody need four hundred and seventy two tooth butt, toothpaste skews? Like, nobody knows. And it's always packed, which astounds me.

But if you think about what the store looks like, it looks like kind of a gnarly CVS, right, fluorescent lights, everything's a little dirty, too much stuff crammed in there. Why does anybody need four hundred and seventy two tooth butt, toothpaste skews? Like, nobody knows. And it's always packed, which astounds me.

13:59

Then I was like, how big is this company? And apparently, they do seven billion dollars a year in sale, which is wild. And then TJ Maxx Homegoods and that whole entity is like fifty one billion. I don't know how big home goods is as a portion of it, but home goods would be like Hobby Lobby, but it's done for you. So Hobby Lobby is like,

Then I was like, how big is this company? And apparently, they do seven billion dollars a year in sale, which is wild. And then TJ Maxx Homegoods and that whole entity is like fifty one billion. I don't know how big home goods is as a portion of it, but home goods would be like Hobby Lobby, but it's done for you. So Hobby Lobby is like,

14:18

here's a bunch of here's a recipe. I think We're gonna give you the ingredients. You put it together. And then home goods is like,

here's a bunch of here's a recipe. I think We're gonna give you the ingredients. You put it together. And then home goods is like,

14:25

Cody doesn't have to paint the pumpkin. It's already there. She gets to buy it, live laugh love included. Right?

Cody doesn't have to paint the pumpkin. It's already there. She gets to buy it, live laugh love included. Right?

14:30

And what I thought was funny is I was chatting beforehand with Ari about this. And I was like, there's some crazy thing about women and candles. Is your wife like this, Sean? Does she love a good candle? Crazy. Yeah. Go on.

And what I thought was funny is I was chatting beforehand with Ari about this. And I was like, there's some crazy thing about women and candles. Is your wife like this, Sean? Does she love a good candle? Crazy. Yeah. Go on.

14:43

I did not stand by that one for Sean, by the way. She doesn't listen, and don't worry. She's never heard one episode.

I did not stand by that one for Sean, by the way. She doesn't listen, and don't worry. She's never heard one episode.

14:50

But women, like, we'll as a gross generality, I'm sure a bunch of people

But women, like, we'll as a gross generality, I'm sure a bunch of people

14:54

are gonna hate this on the internet afterwards, but as a gross generality,

are gonna hate this on the internet afterwards, but as a gross generality,

14:57

There's, like, something,

There's, like, something,

14:59

that we love about a discount on, like, a home goods item, like, a nice little vase a candle drives men crazy. But I think that there's a play here for,

that we love about a discount on, like, a home goods item, like, a nice little vase a candle drives men crazy. But I think that there's a play here for,

15:10

home goods or hobby lobby two point o. And all you would have to do is have any sort of retail experience walk in there, go, oh, god. There's nothing nice about this place Right. Except that it has what is required.

home goods or hobby lobby two point o. And all you would have to do is have any sort of retail experience walk in there, go, oh, god. There's nothing nice about this place Right. Except that it has what is required.

15:21

And, like, church it up. So that's one thing,

And, like, church it up. So that's one thing,

15:24

especially because because ritz retails so cheap right now. Like, we own a commercial

especially because because ritz retails so cheap right now. Like, we own a commercial

15:29

strip mall and, couldn't feel the fucking thing. I mean, really having a hard time. And so I like that play. I like that too. I have a friend that,

strip mall and, couldn't feel the fucking thing. I mean, really having a hard time. And so I like that play. I like that too. I have a friend that,

15:39

owns almost a billion dollars of real estate outright. So not a fund, like, they own it. It's about sixty four d, equity, and debt. And they,

owns almost a billion dollars of real estate outright. So not a fund, like, they own it. It's about sixty four d, equity, and debt. And they,

15:48

one of I was like and they do commercial retail. And I remember sitting with them, and I was like, dude, commercial, like, isn't that dead? Like, what do you in my world, it's like everything's going online

one of I was like and they do commercial retail. And I remember sitting with them, and I was like, dude, commercial, like, isn't that dead? Like, what do you in my world, it's like everything's going online

15:59

and retail brick and mortar. Like, this is a graveyard.

and retail brick and mortar. Like, this is a graveyard.

16:02

You're leaning in. You're you're doubling down. Why do you don't you need to get rid of this portfolio ASAP? And he was like, yes, in general, but there is a, he's, like, the segment I went into is, like, super resilient. Nobody can touch him. He goes, my number one tenant in all of my he basically goes to these, like, giant strip mall type places like our shopping centers that are empty. Can't can't fill a a lease. And he goes to Hobby Lobby. He says would you like to be here? And Hobby Lobby is like, yes. We're expanding. I was like, who's expanding right now? He's like, I'll tell you he's expanding Hobby Lobby, HomeGoods, and then he explained all these. And he's like, basically anything that's

You're leaning in. You're you're doubling down. Why do you don't you need to get rid of this portfolio ASAP? And he was like, yes, in general, but there is a, he's, like, the segment I went into is, like, super resilient. Nobody can touch him. He goes, my number one tenant in all of my he basically goes to these, like, giant strip mall type places like our shopping centers that are empty. Can't can't fill a a lease. And he goes to Hobby Lobby. He says would you like to be here? And Hobby Lobby is like, yes. We're expanding. I was like, who's expanding right now? He's like, I'll tell you he's expanding Hobby Lobby, HomeGoods, and then he explained all these. And he's like, basically anything that's

16:37

got, this kind of DIY craft thing. He's like, it's you you can't touch it. It's like, there's there's so much, demand for it. They just keep expanding. He goes, also, the home goods thing, he's like, there's, there's like a treasure hunt dynamic to it, which is exactly what you just said. He goes, women want to physically go to the store because

got, this kind of DIY craft thing. He's like, it's you you can't touch it. It's like, there's there's so much, demand for it. They just keep expanding. He goes, also, the home goods thing, he's like, there's, there's like a treasure hunt dynamic to it, which is exactly what you just said. He goes, women want to physically go to the store because

16:56

it's a deal hunting experience that if you can

it's a deal hunting experience that if you can

17:00

find did you call it a vase? Is a vase in a vase the same thing? Same thing. Oh, wow. You nailed it. And you're just cool if you say one and you're me, if you say the other. Alright. Gotcha. So

find did you call it a vase? Is a vase in a vase the same thing? Same thing. Oh, wow. You nailed it. And you're just cool if you say one and you're me, if you say the other. Alright. Gotcha. So

17:09

you go you find you find the deal, the sort of needle in a haystack type of thing, and it's kinda thrift shopping, but at a, like, high end, you know, in a high end way.

you go you find you find the deal, the sort of needle in a haystack type of thing, and it's kinda thrift shopping, but at a, like, high end, you know, in a high end way.

17:18

And he's like, yeah, these are super resilient right now. And there was a couple other categories, like, you know, call repair, things like that, things that you couldn't take online,

And he's like, yeah, these are super resilient right now. And there was a couple other categories, like, you know, call repair, things like that, things that you couldn't take online,

17:27

but he's basically isolated into these, like, super resilient ones that now are like, oh, we can go pick up prime real estate everywhere because of this. And I'm with you. The Hobby Lobby one point o, which is, like, the current Hobby Lobby is,

but he's basically isolated into these, like, super resilient ones that now are like, oh, we can go pick up prime real estate everywhere because of this. And I'm with you. The Hobby Lobby one point o, which is, like, the current Hobby Lobby is,

17:40

like, yeah, half CVS, half Home Depot or something like that. It's not, like, Exactly. It doesn't look like Etsy or or Instagram. And I think if somebody just said, which by the way, you know that, that woman, Joanna Gaines, the chip chip in Joanna,

like, yeah, half CVS, half Home Depot or something like that. It's not, like, Exactly. It doesn't look like Etsy or or Instagram. And I think if somebody just said, which by the way, you know that, that woman, Joanna Gaines, the chip chip in Joanna,

17:53

They have the Now you're searching up her name. I think it's Joanna, but we also with Joanna either or. It's a Vaz, sort of situation. So She's got Magnolia,

They have the Now you're searching up her name. I think it's Joanna, but we also with Joanna either or. It's a Vaz, sort of situation. So She's got Magnolia,

18:02

the store in Texas somewhere. Have you been? We go. Yeah. Yeah. I've been. It's

the store in Texas somewhere. Have you been? We go. Yeah. Yeah. I've been. It's

18:07

fan I mean, It's Disneyland for, like, middle aged white women, like, being thick, basically. Like, it's Oh, damn, you went middle aged for yourself? Oh, wow. I know. Well, now that I'm late thirties, You know?

fan I mean, It's Disneyland for, like, middle aged white women, like, being thick, basically. Like, it's Oh, damn, you went middle aged for yourself? Oh, wow. I know. Well, now that I'm late thirties, You know?

18:18

The TikTok tells me that's middle age.

The TikTok tells me that's middle age.

18:21

But what's fascinating about Joanna Gaines is she she disrupted like three industries that people said they're dead. Magazines?

But what's fascinating about Joanna Gaines is she she disrupted like three industries that people said they're dead. Magazines?

18:29

How do you get a magazine that does hundreds of millions of dollars in total revenue from what's built around it? That's wild. And then she did it with,

How do you get a magazine that does hundreds of millions of dollars in total revenue from what's built around it? That's wild. And then she did it with,

18:36

act an actual retail space.

act an actual retail space.

18:38

And then she also did it with,

And then she also did it with,

18:41

well, I guess ecomm isn't dying, but has an incredible e com business. So two out of three.

well, I guess ecomm isn't dying, but has an incredible e com business. So two out of three.

18:46

So they would it be just like Magnolia but scaled? Is that, like, would that be a winning idea here here? Well, I think we could play some games here. So I had a friend that used to run,

So they would it be just like Magnolia but scaled? Is that, like, would that be a winning idea here here? Well, I think we could play some games here. So I had a friend that used to run,

18:55

gosh. What was that store West Elm? So she she used to run something called West Elm Local. And it was basically like, here's West Elm, but in in your local area, you have cool little, kinda like you said, pop up Etsy shops that are inside of West Elm.

gosh. What was that store West Elm? So she she used to run something called West Elm Local. And it was basically like, here's West Elm, but in in your local area, you have cool little, kinda like you said, pop up Etsy shops that are inside of West Elm.

19:08

And they're from local providers. And the cool part about that is HomeGoods rotates its,

And they're from local providers. And the cool part about that is HomeGoods rotates its,

19:14

inventory almost entirely. I think it's twice a week. Tuesdays and Thursdays. I don't know why I know that, but I do. And

inventory almost entirely. I think it's twice a week. Tuesdays and Thursdays. I don't know why I know that, but I do. And

19:20

they and and Westell Local kinda did the same thing. So they bring in new clients because you would only be able to get this limited edition pop up VAS or whatever for each period.

they and and Westell Local kinda did the same thing. So they bring in new clients because you would only be able to get this limited edition pop up VAS or whatever for each period.

19:30

So I think that'd be cool. You could try it. Like a one point o version would be like, could you do a pop in at Hobby Lobby? Could you try to talk them into, like, For instance, Hobby Lobby is very Christian values American, like, the they have, like, bible quotes quotes up on the

So I think that'd be cool. You could try it. Like a one point o version would be like, could you do a pop in at Hobby Lobby? Could you try to talk them into, like, For instance, Hobby Lobby is very Christian values American, like, the they have, like, bible quotes quotes up on the

19:46

up on their headquarters. I used to sell them investment products back in the day. And, so you walk in your headquarters, and it's like the Bible on the wall.

up on their headquarters. I used to sell them investment products back in the day. And, so you walk in your headquarters, and it's like the Bible on the wall.

19:53

And,

And,

19:55

and so maybe you could talk them into, like, a local Christian pop up thing that would go into the store. That could be, like, an easy little one point o way. Maybe not easy because you'd have to get b to b. And then maybe you could do, like, a, like, a pop up, crafting one around a different holiday. And then if you're a big time, like, your friend was a billion bucks, I would love to go into these where it just was a better shopping experience.

and so maybe you could talk them into, like, a local Christian pop up thing that would go into the store. That could be, like, an easy little one point o way. Maybe not easy because you'd have to get b to b. And then maybe you could do, like, a, like, a pop up, crafting one around a different holiday. And then if you're a big time, like, your friend was a billion bucks, I would love to go into these where it just was a better shopping experience.

20:16

Yeah. I feel like, somebody should just take a house. And they just turn the house into the shopping experience and basically, like, just stage the house. And then you come in and you could just basically push a button and get any of these things delivered to your to your home from there. And you can even kinda, like, franchise that concept out and just let let people kinda curate their their own, The one the one thing though I'll say, and I'd be curious. We'll see if if Eric agrees with me and others. But, like, There's something about you go there and you get the thing. So I don't even think we're not even We'll give you a box. We'll give you an empty box.

Yeah. I feel like, somebody should just take a house. And they just turn the house into the shopping experience and basically, like, just stage the house. And then you come in and you could just basically push a button and get any of these things delivered to your to your home from there. And you can even kinda, like, franchise that concept out and just let let people kinda curate their their own, The one the one thing though I'll say, and I'd be curious. We'll see if if Eric agrees with me and others. But, like, There's something about you go there and you get the thing. So I don't even think we're not even We'll give you a box. We'll give you an empty box.

20:47

We want to leave with the candle. We wanna go put the flowers in the vase immediately.

We want to leave with the candle. We wanna go put the flowers in the vase immediately.

20:53

It's it's literally if you go to TikTok and scroll around for some fun times, there's all this stuff about if your wife upset. You just tell her, like, let's go to home goods, honey, and, like, take her around and get her some candles. Oh, that's a great idea. Yeah. Brea write that down for later. Yeah. No. I don't even need to write that That went straight to my core memory,

It's it's literally if you go to TikTok and scroll around for some fun times, there's all this stuff about if your wife upset. You just tell her, like, let's go to home goods, honey, and, like, take her around and get her some candles. Oh, that's a great idea. Yeah. Brea write that down for later. Yeah. No. I don't even need to write that That went straight to my core memory,

21:08

as, like, you know, just default. Actually, I'm gonna do it preventatively

as, like, you know, just default. Actually, I'm gonna do it preventatively

21:12

every Friday, just, just in case.

every Friday, just, just in case.

21:15

And it's cheap. So there's that. You had another one on here that I thought was interesting. You said you tried to buy a Halloween express

And it's cheap. So there's that. You had another one on here that I thought was interesting. You said you tried to buy a Halloween express

21:21

Oh, yeah. That's fascinating. Tell me why did you try to buy it? And why is it a try? Sounds like you didn't end up buying it. Why not? We didn't end up buying it. Somebody else bought it.

Oh, yeah. That's fascinating. Tell me why did you try to buy it? And why is it a try? Sounds like you didn't end up buying it. Why not? We didn't end up buying it. Somebody else bought it.

21:30

And,

And,

21:32

basically, we try to buy it because we saw it was six hundred thousand dollars for

basically, we try to buy it because we saw it was six hundred thousand dollars for

21:36

a pop up location. And I should make sure I get this right, but it was, like, three or four retail locations plus

a pop up location. And I should make sure I get this right, but it was, like, three or four retail locations plus

21:42

whatever last year's inventory was. So there was, like, a lot of there there. They already had the leases. They already had the locations, and it was right before Halloween. Not only. So this is Halloween Express is like spirit where it pops up for sixty days or something like that before Halloween, and it just takes you over vacant space. Is that it? Well, yes, could take over a vacant state space. A lot of times they pre negotiate the contracts, but basically,

whatever last year's inventory was. So there was, like, a lot of there there. They already had the leases. They already had the locations, and it was right before Halloween. Not only. So this is Halloween Express is like spirit where it pops up for sixty days or something like that before Halloween, and it just takes you over vacant space. Is that it? Well, yes, could take over a vacant state space. A lot of times they pre negotiate the contracts, but basically,

22:03

you know, retail has so much data behind it. Usually they know, like, oh, x percentage of these commercial strip malls will be open at any important time. So if we do a contract with how we Express this year, there's likely gonna be one location that's open. And then the wild part about,

you know, retail has so much data behind it. Usually they know, like, oh, x percentage of these commercial strip malls will be open at any important time. So if we do a contract with how we Express this year, there's likely gonna be one location that's open. And then the wild part about,

22:20

spirit and Halloween Express, I always get the two confused, but They have the same model, which is, like, every store is ten thousand square feet. So they'll have a target, which is, I don't know, what, sixty, a hundred thousand square feet, but they only take up ten thousand square feet inside of the store. And if you've ever been in one, they kinda threw up these real, it's like grapes, basically.

spirit and Halloween Express, I always get the two confused, but They have the same model, which is, like, every store is ten thousand square feet. So they'll have a target, which is, I don't know, what, sixty, a hundred thousand square feet, but they only take up ten thousand square feet inside of the store. And if you've ever been in one, they kinda threw up these real, it's like grapes, basically.

22:41

And, you know, racks for clothing that you could buy,

And, you know, racks for clothing that you could buy,

22:45

online. Because they're just trying to standardize

online. Because they're just trying to standardize

22:47

the the the rollout of the store quickly and cheaply.

the the the rollout of the store quickly and cheaply.

22:51

Exactly. Exactly. It's like it's like the IKEA,

Exactly. Exactly. It's like it's like the IKEA,

22:55

furniture

furniture

22:56

of stores. You know, it's like every single time we put it in the box, you have the list of things that you need, and it's up and in,

of stores. You know, it's like every single time we put it in the box, you have the list of things that you need, and it's up and in,

23:03

well, we talked to a contractor who could do the build out for us. And he said that those things go up in a matter of Sometimes days, which he said would be aggressive, but like two weeks. He's like two weeks, you can have an entire Halloween express app, which is wild because a normal store is months, if not a year. To throw up. So anyway, we tried to buy this one kind of for shits and giggles because,

well, we talked to a contractor who could do the build out for us. And he said that those things go up in a matter of Sometimes days, which he said would be aggressive, but like two weeks. He's like two weeks, you can have an entire Halloween express app, which is wild because a normal store is months, if not a year. To throw up. So anyway, we tried to buy this one kind of for shits and giggles because,

23:24

I thought we could make cool content around it. And then maybe we could try to sell it.

I thought we could make cool content around it. And then maybe we could try to sell it.

23:29

And I wanted to understand the business model. And then somebody else bought it out from under us, basically. But that's when I went down to this deep rabbit hole of, oh my god. The average,

And I wanted to understand the business model. And then somebody else bought it out from under us, basically. But that's when I went down to this deep rabbit hole of, oh my god. The average,

23:38

commercial,

commercial,

23:39

let's call it retail store,

let's call it retail store,

23:41

Costss

Costss

23:42

millions to throw up and takes months, and spirit or Halloween Express costs Maybe ten to fifty thousand dollars to throw up and is up in days or weeks. So just like speed

millions to throw up and takes months, and spirit or Halloween Express costs Maybe ten to fifty thousand dollars to throw up and is up in days or weeks. So just like speed

23:55

execution

execution

23:56

has to make this a much more interesting business model. So how much would a business like that make? Let's say you buy one of these

has to make this a much more interesting business model. So how much would a business like that make? Let's say you buy one of these

24:03

businesses. And this was you said three locations for six hundred k plus the inventory. So you're right. Like,

businesses. And this was you said three locations for six hundred k plus the inventory. So you're right. Like,

24:08

that's a lot.

that's a lot.

24:10

The what would you what what do you what would one of those locations

The what would you what what do you what would one of those locations

24:14

net?

net?

24:15

Do you think at the end of that? In the Halloween, you said. Well, I think

Do you think at the end of that? In the Halloween, you said. Well, I think

24:19

They said that it was somewhere around a million dollars. So three locations inside of their open for two months a year, they would bring in a million dollars. I think it was like nine or something like that. That's revenue though. Right? That's revenue. That's right. Now the margins on those businesses that they claimed were thirty to forty five percent. That seems way too high for me. I'm guessing the margins on it are, like, typical ten to twenty percent margin on that kind of business. Which means if I bought it, I guess it depends on how much inventory was in there. We never got to go deep on the due diligence side, but depending on how much inventory is in there.

They said that it was somewhere around a million dollars. So three locations inside of their open for two months a year, they would bring in a million dollars. I think it was like nine or something like that. That's revenue though. Right? That's revenue. That's right. Now the margins on those businesses that they claimed were thirty to forty five percent. That seems way too high for me. I'm guessing the margins on it are, like, typical ten to twenty percent margin on that kind of business. Which means if I bought it, I guess it depends on how much inventory was in there. We never got to go deep on the due diligence side, but depending on how much inventory is in there.

24:53

If we did this type of business, you could be basically be in the clear inside of two or three years,

If we did this type of business, you could be basically be in the clear inside of two or three years,

24:59

you could be in the black. And so that's kind of interesting. Let's do those numbers. So you said a million dollars for one location, revenue?

you could be in the black. And so that's kind of interesting. Let's do those numbers. So you said a million dollars for one location, revenue?

25:06

A million dollars for this whole business. So that's three locations.

A million dollars for this whole business. So that's three locations.

25:10

Mhmm. Cool. So a million dollars, and then you're saying maybe let's just split the difference there. Six twenty percent. Net. So two hundred k. And you're saying that they, you're buying it for six hundred k, including the inventory. So you're saying couple of years and you're,

Mhmm. Cool. So a million dollars, and then you're saying maybe let's just split the difference there. Six twenty percent. Net. So two hundred k. And you're saying that they, you're buying it for six hundred k, including the inventory. So you're saying couple of years and you're,

25:25

you are,

you are,

25:26

you're You're bro you've broken even on your investment. You've you've returned your capital, but what you're saying is that these things

you're You're bro you've broken even on your investment. You've you've returned your capital, but what you're saying is that these things

25:33

that, like, So just run these things. You have to buy new inventory every year. So you'd have to inject how much working capital do you think to to do a million dollars in sales. Maybe, like, hundred fifty k or two hundred k?

that, like, So just run these things. You have to buy new inventory every year. So you'd have to inject how much working capital do you think to to do a million dollars in sales. Maybe, like, hundred fifty k or two hundred k?

25:43

Well, the so the interesting part to me about Halloween

Well, the so the interesting part to me about Halloween

25:47

is theoretically a lot of the inventory is the same. So they said that they have about ten to fifteen percent of the inventories, like, the new concepts. So, like, the the the euphoria outfit Sure. For instance.

is theoretically a lot of the inventory is the same. So they said that they have about ten to fifteen percent of the inventories, like, the new concepts. So, like, the the the euphoria outfit Sure. For instance.

25:59

As opposed to the witches, the lions, the wardrobes, whatever people do each year. And so, yeah, if we think that the inventory for that place was probably, you know,

As opposed to the witches, the lions, the wardrobes, whatever people do each year. And so, yeah, if we think that the inventory for that place was probably, you know,

26:09

two hundred thousand two hundred fifty thousand dollars in inventory that they had.

two hundred thousand two hundred fifty thousand dollars in inventory that they had.

26:13

You know? Yeah. Probably a year you're paying, like, fifty to a hundred thousand dollars in, like, the net new inventory, then you can roll some over.

You know? Yeah. Probably a year you're paying, like, fifty to a hundred thousand dollars in, like, the net new inventory, then you can roll some over.

26:22

But, yeah, I don't I mean, the problem is I didn't get to actually do it. So I don't know the true numbers, but that seems

But, yeah, I don't I mean, the problem is I didn't get to actually do it. So I don't know the true numbers, but that seems

26:28

That seems reasonable.

That seems reasonable.

26:30

Yeah. Yeah. Okay. Alright. Fair enough. Okay. So Halloween store. Interesting. You have a couple other ones on here that I just don't know anything about, but I wanna hear what you say. You wrote the words fantasy werewolf romance novel.

Yeah. Yeah. Okay. Alright. Fair enough. Okay. So Halloween store. Interesting. You have a couple other ones on here that I just don't know anything about, but I wanna hear what you say. You wrote the words fantasy werewolf romance novel.

26:42

What you're talking about?

What you're talking about?

26:44

Yeah. So we have a we have a group where we all buy businesses together. And,

Yeah. So we have a we have a group where we all buy businesses together. And,

26:48

this one lady comes on, and she's like, I bought a,

this one lady comes on, and she's like, I bought a,

26:53

romance

romance

26:54

novel book company. So they write them, they distribute them, and they market them, sort of three three levels to the business. I was like, that's fascinating.

novel book company. So they write them, they distribute them, and they market them, sort of three three levels to the business. I was like, that's fascinating.

27:02

And she started explaining some of the title And then she's kind of a funny character. And so she was like, the thing is,

And she started explaining some of the title And then she's kind of a funny character. And so she was like, the thing is,

27:07

Romont romance werewolves

Romont romance werewolves

27:09

huge category, like biggest growing category. And I was like, okay.

huge category, like biggest growing category. And I was like, okay.

27:14

Talked to me about that. And she basically said, of all the titles that she has.

Talked to me about that. And she basically said, of all the titles that she has.

27:18

I can't remember how many she had, but let's say, like, twenty five thirty titles that she bought.

I can't remember how many she had, but let's say, like, twenty five thirty titles that she bought.

27:22

The outselling ones, the eighty twenty rule for her twenty five to thirty book business, were

The outselling ones, the eighty twenty rule for her twenty five to thirty book business, were

27:27

this fantasy romance category.

this fantasy romance category.

27:31

And then because I'm a woman and I also read books, I was like, let's look at my thing. Like, do I ever read this category? And it turns out I'm a fantasy reader. And

And then because I'm a woman and I also read books, I was like, let's look at my thing. Like, do I ever read this category? And it turns out I'm a fantasy reader. And

27:41

some of them have werewolves in them. So I was like,

some of them have werewolves in them. So I was like,

27:44

this is weird. Am I weird? Is she weirder as this category? And then I went and and researched it. And I think you guys have covered this before, but there's like one point three billion dollars are sold of romance books a year.

this is weird. Am I weird? Is she weirder as this category? And then I went and and researched it. And I think you guys have covered this before, but there's like one point three billion dollars are sold of romance books a year.

27:56

And,

And,

27:57

and it's huge. It's like almost

and it's huge. It's like almost

27:59

in some cases, you know, a quarter to half of the entire industry.

in some cases, you know, a quarter to half of the entire industry.

28:03

But the part that that got me the most was realizing romance is growing hugely, but it's with, like, were the target audience my age. So, like, somewhere in the realm of,

But the part that that got me the most was realizing romance is growing hugely, but it's with, like, were the target audience my age. So, like, somewhere in the realm of,

28:14

eighteen to let's call it forty five, which used to be like the long haired Fabio romance novels. That used to be the deal. And I guess now this fantasy level is taking over.

eighteen to let's call it forty five, which used to be like the long haired Fabio romance novels. That used to be the deal. And I guess now this fantasy level is taking over.

28:25

What's interesting is you can kinda tell because if you look up the best selling books of all time, Harry Potter five hundred mill, twilight, one sixty, fifty shades, one fifty.

What's interesting is you can kinda tell because if you look up the best selling books of all time, Harry Potter five hundred mill, twilight, one sixty, fifty shades, one fifty.

28:35

There there is like kind of morphing together. And so I'm curious to see what happens next, but I kinda like this industry. I can't really see you riding a werewolf fantasy novel song, but maybe. Maybe it's a stunt. You know that Sam wrote a romance novel once. Do you know that story? Oh, I forgot about that. He or did he write it, or did he They ghost road. They like ghost road. It's a basically same sort of observation. He's like, you know, when people are like, oh, Amazon best seller, and then it's like, everybody and their mom is Amazon best seller. It's like, what does this word mean actually? You know, it's like

There there is like kind of morphing together. And so I'm curious to see what happens next, but I kinda like this industry. I can't really see you riding a werewolf fantasy novel song, but maybe. Maybe it's a stunt. You know that Sam wrote a romance novel once. Do you know that story? Oh, I forgot about that. He or did he write it, or did he They ghost road. They like ghost road. It's a basically same sort of observation. He's like, you know, when people are like, oh, Amazon best seller, and then it's like, everybody and their mom is Amazon best seller. It's like, what does this word mean actually? You know, it's like

29:08

in the bottom of the power rankings of meaningful titles, it's like Forbes thirty thirty. And even below that is Amazon best seller because it means nothing.

in the bottom of the power rankings of meaningful titles, it's like Forbes thirty thirty. And even below that is Amazon best seller because it means nothing.

29:16

And so,

And so,

29:17

what you found was, to be a best seller, you basically pick some niche category. And then for a day,

what you found was, to be a best seller, you basically pick some niche category. And then for a day,

29:22

you know, you,

you know, you,

29:24

sell, you know, a thousand copies or something like that at ninety nine cents and you've become a best seller. You screenshot that. You're you're a best seller. You get the flag.

sell, you know, a thousand copies or something like that at ninety nine cents and you've become a best seller. You screenshot that. You're you're a best seller. You get the flag.

29:32

Some version of that. So it's like a it's a very, like, gamified thing. You there's all these sub two categories. So your you're trying to just get to the number one inside health health and wellness

Some version of that. So it's like a it's a very, like, gamified thing. You there's all these sub two categories. So your you're trying to just get to the number one inside health health and wellness

29:42

inside by a new emerging author or whatever. You know, like, there's all these subcategories.

inside by a new emerging author or whatever. You know, like, there's all these subcategories.

29:46

So he

So he

29:48

found somebody who had done this. So they were bay they were baking good money, like, tens of thousands a month, I think. Selling,

found somebody who had done this. So they were bay they were baking good money, like, tens of thousands a month, I think. Selling,

29:55

romance novels on Amazon on just ebooks.

romance novels on Amazon on just ebooks.

29:58

And so he commissioned somebody to write one, or he wrote, like, a couple. And it was, like, Boston. It was, like, and a secretary,

And so he commissioned somebody to write one, or he wrote, like, a couple. And it was, like, Boston. It was, like, and a secretary,

30:05

and another one was, like, oh, like, a werewolf into something.

and another one was, like, oh, like, a werewolf into something.

30:08

And,

And,

30:10

and he commissioned somebody write it, and then they wrote it, and then they did it. They hit the Amazon Best seller. It's out there somewhere. You could find this if you just No. Does he still make money on that?

and he commissioned somebody write it, and then they wrote it, and then they did it. They hit the Amazon Best seller. It's out there somewhere. You could find this if you just No. Does he still make money on that?

30:18

No, no, no, not anymore. I think they took it down.

No, no, no, not anymore. I think they took it down.

30:22

That's incredible. Well, I mean, honestly, if you go and you Whether, the blog post is called confessions from the scammy Underground World of Kindle Books. And so, his

That's incredible. Well, I mean, honestly, if you go and you Whether, the blog post is called confessions from the scammy Underground World of Kindle Books. And so, his

30:32

book was called untamed billionaire undressed virgin.

book was called untamed billionaire undressed virgin.

30:37

Jesus.

Jesus.

30:38

Sounds good. Sometimes.

Sounds good. Sometimes.

30:40

That guy. That's incredible.

That guy. That's incredible.

30:42

That is incredible. He has way better historical business,

That is incredible. He has way better historical business,

30:47

shenanigans he's done than me. Oh, wait wait. No. Sorry. Sorry. Sorry.

shenanigans he's done than me. Oh, wait wait. No. Sorry. Sorry. Sorry.

30:51

I I gotta kinda clear the clear of the record. That wasn't his. That was the name of somebody else's. His was called captivating Claire, and the cover is this really ripped black guy, and then the secretary, and it says a first time billionaire romance. Okay. There we go. Oh, like, okay. That's slightly better. I like the other story better. I think we should cut part and just tell everybody the other one was his name. I think, I think that's the move. But you know what's fascinating is when you go to, like so if you go to your bookstore and you look up

I I gotta kinda clear the clear of the record. That wasn't his. That was the name of somebody else's. His was called captivating Claire, and the cover is this really ripped black guy, and then the secretary, and it says a first time billionaire romance. Okay. There we go. Oh, like, okay. That's slightly better. I like the other story better. I think we should cut part and just tell everybody the other one was his name. I think, I think that's the move. But you know what's fascinating is when you go to, like so if you go to your bookstore and you look up

31:17

top charts

top charts

31:18

free.

free.

31:20

I mean, this category is everywhere. And then to your the point that I thought was interesting, is the move I didn't realize the the Amazon best seller thing. That's why they put it up for ninety nine cents.

I mean, this category is everywhere. And then to your the point that I thought was interesting, is the move I didn't realize the the Amazon best seller thing. That's why they put it up for ninety nine cents.

31:32

The reason that I thought and this lady was telling me is you put one up for ninety nine cents or free. You get it on the top free list. And then you hammer these things out. So you have four hundred and seventy two versions of Fabio, the fantastic werewolf.

The reason that I thought and this lady was telling me is you put one up for ninety nine cents or free. You get it on the top free list. And then you hammer these things out. So you have four hundred and seventy two versions of Fabio, the fantastic werewolf.

31:45

And,

And,

31:46

the the likelihood that people are gonna buy all of those in the series is apparently incredibly high. And so,

the the likelihood that people are gonna buy all of those in the series is apparently incredibly high. And so,

31:53

I thought that was fascinating. And a lot of these authors, like, if you look at them, they have fifty books out. Must mean somebody's ghost writing for them. So I don't think you could do it any other way. Yeah. Or like chat GPT.

I thought that was fascinating. And a lot of these authors, like, if you look at them, they have fifty books out. Must mean somebody's ghost writing for them. So I don't think you could do it any other way. Yeah. Or like chat GPT.

32:04

By the way, you know the story of fifty shades of gray?

By the way, you know the story of fifty shades of gray?

32:07

Not like the quick story, but like the backstory, how it came to be. Uh-uh. Oh, this is crazy. So,

Not like the quick story, but like the backstory, how it came to be. Uh-uh. Oh, this is crazy. So,

32:13

I don't know if you've ever seen the called the big fan fiction site

I don't know if you've ever seen the called the big fan fiction site

32:18

Wattpad.

Wattpad.

32:19

It just sold. It's like a Canadian company.

It just sold. It's like a Canadian company.

32:21

So what happened is twilight comes out. It's a vampire story. It's great.

So what happened is twilight comes out. It's a vampire story. It's great.

32:27

And then somebody goes on Wattpad and writes a fan fiction.

And then somebody goes on Wattpad and writes a fan fiction.

32:32

Version of Twilight, basically.

Version of Twilight, basically.

32:34

And

And

32:35

that was the early

that was the early

32:37

the v one of fifty shades of gray. People liked it and it became and then somebody picked it up and it they've rekind of branded it as its own thing instead of as a twilight fan fiction as its own brand.

the v one of fifty shades of gray. People liked it and it became and then somebody picked it up and it they've rekind of branded it as its own thing instead of as a twilight fan fiction as its own brand.

32:48

And it became, like, you know, whatever the third or fifth or whatever best selling book of all time started as a fan fiction blog on a on on Wattpad, I think. Well, it it makes sense, actually, because it's all just sort of copywriting

And it became, like, you know, whatever the third or fifth or whatever best selling book of all time started as a fan fiction blog on a on on Wattpad, I think. Well, it it makes sense, actually, because it's all just sort of copywriting

33:00

in some way. What, you know, Joseph Campbell talks about the hero's journey. Right? And everybody basically use uses that from the Bible to Star Wars to, you know, twilight, etcetera. I mean, the other thing that I remember, so I actually went to to a high school that was right next to. And so we were close with the high school of the the woman who walt wrote Twilight Stephanie, Stephanie.

in some way. What, you know, Joseph Campbell talks about the hero's journey. Right? And everybody basically use uses that from the Bible to Star Wars to, you know, twilight, etcetera. I mean, the other thing that I remember, so I actually went to to a high school that was right next to. And so we were close with the high school of the the woman who walt wrote Twilight Stephanie, Stephanie.

33:19

And I remember when it was going wild, that wasn't my category.

And I remember when it was going wild, that wasn't my category.

33:23

And so,

And so,

33:24

I, like, reached out to her and was like, hey, like, congratulations on your first I'm so excited for you. You know, I just wanted to let you know, like, I bought a few books for you. You know, to help out.

I, like, reached out to her and was like, hey, like, congratulations on your first I'm so excited for you. You know, I just wanted to let you know, like, I bought a few books for you. You know, to help out.

33:36

Retrospect,

Retrospect,

33:37

and then I, like, looked at her say, I was like, oh, cool. Cool. Cool. Anyway, I'm gonna go.

and then I, like, looked at her say, I was like, oh, cool. Cool. Cool. Anyway, I'm gonna go.

33:45

No. I don't know. I don't think she did, but you know what, Stephanie, I was I was here for you from the beginning. Yeah. Actually, not from the beginning though. That's the bad part. It was already successful.

No. I don't know. I don't think she did, but you know what, Stephanie, I was I was here for you from the beginning. Yeah. Actually, not from the beginning though. That's the bad part. It was already successful.

33:54

That's really good. Yeah. Okay. So let's,

That's really good. Yeah. Okay. So let's,

33:57

let's do one more that's in this, you the segment that you called gets messaged in this bitch we gotten enough estimates? I don't know. We gotta get one more idea in here. Go pick up the one that I think could be a billion dollar business, but I don't have the how. The MFM listeners are super smart. Maybe you guys can figure out the how.

let's do one more that's in this, you the segment that you called gets messaged in this bitch we gotten enough estimates? I don't know. We gotta get one more idea in here. Go pick up the one that I think could be a billion dollar business, but I don't have the how. The MFM listeners are super smart. Maybe you guys can figure out the how.

34:14

You know,

You know,

34:16

lots of our friends I don't know if you experience any of this Sean, but getting pregnant these days is, like, hard. You know, when we were young, I remember it was like, yeah. If you look at that guy sideways, like, pregnant, you know, shake hands, pregnant, everybody's pregnant. Right. And then as you get older, apparently, it's like now impossible.

lots of our friends I don't know if you experience any of this Sean, but getting pregnant these days is, like, hard. You know, when we were young, I remember it was like, yeah. If you look at that guy sideways, like, pregnant, you know, shake hands, pregnant, everybody's pregnant. Right. And then as you get older, apparently, it's like now impossible.

34:33

And I've experienced this firsthand. It's like expensive. Know, you go to the doctors, and then you have these different apps, and then you're tracking for it or seventy two different things. And the whole experience is, like, awful,

And I've experienced this firsthand. It's like expensive. Know, you go to the doctors, and then you have these different apps, and then you're tracking for it or seventy two different things. And the whole experience is, like, awful,

34:44

and,

and,

34:45

expensive.

expensive.

34:46

And so I think there's a huge opportunity to do something in it. Because once that little box gets checked. Like, a woman is ready to have a baby or whatever. Like, I don't know. We turn into crazy people. We'll do whatever it takes. You know, you guys have Sam was telling me some crazy stuff he was selling Sarah. I'm like, I don't think that's true about how to get pregnant.

And so I think there's a huge opportunity to do something in it. Because once that little box gets checked. Like, a woman is ready to have a baby or whatever. Like, I don't know. We turn into crazy people. We'll do whatever it takes. You know, you guys have Sam was telling me some crazy stuff he was selling Sarah. I'm like, I don't think that's true about how to get pregnant.

35:06

And

And

35:08

Anyway, so for instance, there's this company called Mira, and it has this little, like,

Anyway, so for instance, there's this company called Mira, and it has this little, like,

35:13

egg shaped tester, and this is, like, a little TMI, but, you pee on a stick and it tells you how fertile you are, whatever.

egg shaped tester, and this is, like, a little TMI, but, you pee on a stick and it tells you how fertile you are, whatever.

35:18

And

And

35:19

the

the

35:20

John, I kid you not. When I open the app, but I'm not a total idiot,

John, I kid you not. When I open the app, but I'm not a total idiot,

35:24

like, I can't tell what I'm tracking.

like, I can't tell what I'm tracking.

35:26

And I can't tell what's happening in here. There are no notifications. There are no gamifications

And I can't tell what's happening in here. There are no notifications. There are no gamifications

35:31

in it. And they charge you, it's like fifty dollars for the the sticks that they send you. And then it's like somebody should check my math on this. I'm I'm definitely wrong on the number, but it's a hundred and fifty to two hundred bucks for this tiny little plastic egg that has to be created in in China, and and that's it. And

in it. And they charge you, it's like fifty dollars for the the sticks that they send you. And then it's like somebody should check my math on this. I'm I'm definitely wrong on the number, but it's a hundred and fifty to two hundred bucks for this tiny little plastic egg that has to be created in in China, and and that's it. And

35:49

I never saw an ad for this. It's all, like, word-of-mouth referral.

I never saw an ad for this. It's all, like, word-of-mouth referral.

35:53

So I don't know what crazy ideas you have, but I feel like the people from MFM, all of that. Let's, let's brainstorm on the fly here. So, first of all, when you started saying there was, like, this little egg shaped thing, I thought where you were going was,

So I don't know what crazy ideas you have, but I feel like the people from MFM, all of that. Let's, let's brainstorm on the fly here. So, first of all, when you started saying there was, like, this little egg shaped thing, I thought where you were going was,

36:06

like you said, like, a sort of a smart device, but so you you pee on the stick. It tells you kinda where you're at in your cycle. But how cool would that be? As a little bedside replacement to your alarm clock. When it glows,

like you said, like, a sort of a smart device, but so you you pee on the stick. It tells you kinda where you're at in your cycle. But how cool would that be? As a little bedside replacement to your alarm clock. When it glows,

36:17

hey, it's time. It's time to get busy.

hey, it's time. It's time to get busy.

36:21

And you you could see based on the light. So that's a little more tasteful than these apps that are, like,

And you you could see based on the light. So that's a little more tasteful than these apps that are, like,

36:26

your, you know, your your ESG levels are spiking right now or whatever it's like it's like, let's just let's just add a little bit of romance to this process that becomes very,

your, you know, your your ESG levels are spiking right now or whatever it's like it's like, let's just let's just add a little bit of romance to this process that becomes very,

36:35

very clinical.

very clinical.

36:36

And so I'm thinking

And so I'm thinking

36:38

bedside egg, bedside,

bedside egg, bedside,

36:40

replacement to the alarm clock. Okay. That's idea number one. Idea number two, have you ever heard of a Flow app? Yes. It's I think it's the it's flow dot health. It's the most popular pregnancy

replacement to the alarm clock. Okay. That's idea number one. Idea number two, have you ever heard of a Flow app? Yes. It's I think it's the it's flow dot health. It's the most popular pregnancy

36:51

period tracking app in the world. Like, their website gets like, eight million uniques a month or something like that crazy.

period tracking app in the world. Like, their website gets like, eight million uniques a month or something like that crazy.

36:58

Last I had heard they were doing something like thirty million ish in in ARR.

Last I had heard they were doing something like thirty million ish in in ARR.

37:03

Which is pretty bonkers for a mobile app and way more than you would think a niche mobile app like this would do.

Which is pretty bonkers for a mobile app and way more than you would think a niche mobile app like this would do.

37:11

That was, like, five years ago that I heard that number. I would not be surprised

That was, like, five years ago that I heard that number. I would not be surprised

37:14

if Flo was doing, you know,

if Flo was doing, you know,

37:16

like, a hundred million. I'm just gonna search the revenue. See if it if it's out now. Yeah. And how much they're worth? Cause I couldn't also figure out the

like, a hundred million. I'm just gonna search the revenue. See if it if it's out now. Yeah. And how much they're worth? Cause I couldn't also figure out the

37:24

valuation

valuation

37:24

on these companies. Like, Mary's gotta be. Could you imagine? You get

on these companies. Like, Mary's gotta be. Could you imagine? You get

37:29

me at a point where you're gonna know the second that a woman is pregnant, which is the highest likelihood of,

me at a point where you're gonna know the second that a woman is pregnant, which is the highest likelihood of,

37:36

purchasing intent you could have. Right.

purchasing intent you could have. Right.

37:39

And, like, what would that data be worse? And then also you could sell the data to every medical provider imaginable.

And, like, what would that data be worse? And then also you could sell the data to every medical provider imaginable.

37:46

And have add ons and affiliate deals for x

And have add ons and affiliate deals for x

37:49

supplement,

supplement,

37:50

x

x

37:51

Right. Thing you gotta drink or whatever. Yeah. I I I agree with you. It it's extremely valuable sort of stage. That's a that's a time down stage where you're you're gonna become pretty pricing sensitive,

Right. Thing you gotta drink or whatever. Yeah. I I I agree with you. It it's extremely valuable sort of stage. That's a that's a time down stage where you're you're gonna become pretty pricing sensitive,

38:00

as you've as you've noticed. So, yeah, Flow,

as you've as you've noticed. So, yeah, Flow,

38:03

over over three three hundred million people have downloaded the app. Revenues over a hundred million for this app. It's a billion dollar app. That started off as a period tracking

over over three three hundred million people have downloaded the app. Revenues over a hundred million for this app. It's a billion dollar app. That started off as a period tracking

38:13

tracker app. It started off as like such a simple little mobile app at the time. So so props to these guys. I think they're in Europe, that built this thing. So the, I think the mobile app space is it was obviously, you know, kind of like one winner in this. Other ideas that I think are interesting. So somebody sent this to me the other day, and I know nothing about this. I had put it on my list of, like, two research, but I haven't gotten around to it. So I'll just say the the one percent of the idea that I have ready, which is she goes, somebody beside me, she goes, do you know how hard it is for a gay couple to adopt a baby? I said,

tracker app. It started off as like such a simple little mobile app at the time. So so props to these guys. I think they're in Europe, that built this thing. So the, I think the mobile app space is it was obviously, you know, kind of like one winner in this. Other ideas that I think are interesting. So somebody sent this to me the other day, and I know nothing about this. I had put it on my list of, like, two research, but I haven't gotten around to it. So I'll just say the the one percent of the idea that I have ready, which is she goes, somebody beside me, she goes, do you know how hard it is for a gay couple to adopt a baby? I said,

38:44

sure don't. I have no idea. How hard is it? Is it very hard? She's like, nearly impossible.

sure don't. I have no idea. How hard is it? Is it very hard? She's like, nearly impossible.

38:48

And

And

38:49

she goes, if you if anybody created a that just helped gay male gay couples,

she goes, if you if anybody created a that just helped gay male gay couples,

38:55

adopt babies.

adopt babies.

38:57

You know, because they're usually, that's, like, a very rich segment is, like,

You know, because they're usually, that's, like, a very rich segment is, like,

39:01

gay male couples. It's like one of the highest, like, sort of average,

gay male couples. It's like one of the highest, like, sort of average,

39:04

like, household incomes.

like, household incomes.

39:06

Obviously, super high need or, like, no price sensitivity when it comes time. And convoluted

Obviously, super high need or, like, no price sensitivity when it comes time. And convoluted

39:12

low NPS,

low NPS,

39:13

process. And so I think if somebody just went and interviewed, like, a hundred couples that we're trying to adopt right now, I bet you could find some I bet you could find a five hundred million dollar to a billion dollar business out of a hundred interviews of those couple. And I don't know what that idea is yet, but I that's enough of a map for somebody to go, you know, find their own,

process. And so I think if somebody just went and interviewed, like, a hundred couples that we're trying to adopt right now, I bet you could find some I bet you could find a five hundred million dollar to a billion dollar business out of a hundred interviews of those couple. And I don't know what that idea is yet, but I that's enough of a map for somebody to go, you know, find their own,

39:32

immunity idle to use my survivor references. It's a good point. I mean, it's sort of I've been messing around lately thinking about levels to the game of business, like how it, like, would be interesting to categorize

immunity idle to use my survivor references. It's a good point. I mean, it's sort of I've been messing around lately thinking about levels to the game of business, like how it, like, would be interesting to categorize

39:41

all businesses

all businesses

39:43

as what level on a let's call it just a multiple,

as what level on a let's call it just a multiple,

39:46

and margin level. If you just say, like, what multiple could you get before this business and how high of margins do you get for this business? And maybe Like, how reasonable would it be for you get to, I don't know, ten million or a hundred million, whatever your goal posts would be.

and margin level. If you just say, like, what multiple could you get before this business and how high of margins do you get for this business? And maybe Like, how reasonable would it be for you get to, I don't know, ten million or a hundred million, whatever your goal posts would be.

39:58

And I think, like, a level one business, a lower tier business that would be probably

And I think, like, a level one business, a lower tier business that would be probably

40:03

profitable on, like, day one to thirty

profitable on, like, day one to thirty

40:05

would be helping just on the consulting aspect of that because you're right. I have a friend that paid twenty five thousand dollars

would be helping just on the consulting aspect of that because you're right. I have a friend that paid twenty five thousand dollars

40:13

for help navigating the adoption process in Texas.

for help navigating the adoption process in Texas.

40:16

And they I should figure out what the name of the the thing is that they asked for, but they paid a huge chunk of money just to help them figure out how to get higher on the lists Right. For adoption in Texas. So if that exists,

And they I should figure out what the name of the the thing is that they asked for, but they paid a huge chunk of money just to help them figure out how to get higher on the lists Right. For adoption in Texas. So if that exists,

40:29

there's gotta be thirty two different ways to do consulting for adoption in this space. Yeah. Yeah. Basically, anybody who's, like,

there's gotta be thirty two different ways to do consulting for adoption in this space. Yeah. Yeah. Basically, anybody who's, like,

40:36

clear, like, in the airports, but for all life processes, not just lines at the airport. So it's, like, somebody is doing this right now. I saw for H1B visas. They're, like,

clear, like, in the airports, but for all life processes, not just lines at the airport. So it's, like, somebody is doing this right now. I saw for H1B visas. They're, like,

40:46

Again, like, if you're an immigrant in the United States, applying for a visa is literally, like, one of the, like, two things that keeps you up at night.

Again, like, if you're an immigrant in the United States, applying for a visa is literally, like, one of the, like, two things that keeps you up at night.

40:53

And so

And so

40:55

There's people that are like, we're just h one b like concierge.

There's people that are like, we're just h one b like concierge.

40:58

Like, we know this process inside out. You don't. You're just sitting here googling reading forums.

Like, we know this process inside out. You don't. You're just sitting here googling reading forums.

41:02

We know how to expedite some timelines. We know where you should pay money. We know where you should worry because it's just this is normal. This is part of the standard delay. We know when you put your put together your application, like, how to which order to staple it together so that you have the best chance of success. And I find that, like, for these really

We know how to expedite some timelines. We know where you should pay money. We know where you should worry because it's just this is normal. This is part of the standard delay. We know when you put your put together your application, like, how to which order to staple it together so that you have the best chance of success. And I find that, like, for these really

41:19

complex

complex

41:21

workflows

workflows

41:22

that are high ticket and high desire, like adopting a child, like getting your visa,

that are high ticket and high desire, like adopting a child, like getting your visa,

41:26

people are willing to pay, you know, whatever ten grand, twenty grand

people are willing to pay, you know, whatever ten grand, twenty grand

41:30

in order to do it.

in order to do it.

41:32

Obviously, it's, you know, the richer segment there, but but that that's And so you could go buy the lead for this. You know, you could advertise and get the lead for this, you know, through Google for maybe two grand a lead, but you're making twenty grand per person off that that comes out of that funnel.

Obviously, it's, you know, the richer segment there, but but that that's And so you could go buy the lead for this. You know, you could advertise and get the lead for this, you know, through Google for maybe two grand a lead, but you're making twenty grand per person off that that comes out of that funnel.

41:47

That's smart. Well, even We both invested you invested in Home Health too. Right? Yeah.

That's smart. Well, even We both invested you invested in Home Health too. Right? Yeah.

41:52

I invested in them also. And part of the the stuff that I think is really smart with what they're doing is just it's such a pain to get,

I invested in them also. And part of the the stuff that I think is really smart with what they're doing is just it's such a pain to get,

42:00

access to those

access to those

42:01

type of, you know, TRT and and different things that men want,

type of, you know, TRT and and different things that men want,

42:06

and do it in a legal way and really be able to trust what you're getting. And so there's probably a bunch of that inside the the women's space too. At home, I keep telling them they should launch something for women because I think it's a really underserved market. And if you think about it, You know,

and do it in a legal way and really be able to trust what you're getting. And so there's probably a bunch of that inside the the women's space too. At home, I keep telling them they should launch something for women because I think it's a really underserved market. And if you think about it, You know,

42:21

men sort of dominate most of the diet and trends in general. So you had like Tim Ferris normalized keto so I tried keto for a while. And then I went to I now have a doctor Gabriel Lion who's a stud. And she's like, the thing is, that doesn't work as well for women. I'm like, no. I read the book. I'm a huge fan.

men sort of dominate most of the diet and trends in general. So you had like Tim Ferris normalized keto so I tried keto for a while. And then I went to I now have a doctor Gabriel Lion who's a stud. And she's like, the thing is, that doesn't work as well for women. I'm like, no. I read the book. I'm a huge fan.

42:37

It just turns out a lot of that stuff,

It just turns out a lot of that stuff,

42:39

males, men and women are biologically different.

males, men and women are biologically different.

42:43

And so, yeah, I think there's lots of cool ways to play in that

And so, yeah, I think there's lots of cool ways to play in that

42:46

space. Also, like, with stuff like, peptides. Although, those are getting federally banned, so maybe not the best idea by now. Peptides are getting federally banned. Yeah. We should check my homework on that, but that's the word from the husband. Is that, like, osempic, a peptide?

space. Also, like, with stuff like, peptides. Although, those are getting federally banned, so maybe not the best idea by now. Peptides are getting federally banned. Yeah. We should check my homework on that, but that's the word from the husband. Is that, like, osempic, a peptide?

42:59

Well, my understanding

Well, my understanding

43:01

is Most of the reason why peptides are getting banned is because

is Most of the reason why peptides are getting banned is because

43:05

they are hard to,

they are hard to,

43:07

patent. And so

patent. And so

43:09

because of that, there's, you know, conspiracy theorists, like, big pharma doesn't like that. And so they're getting a lot of pushback. But my husband's, like, number one advocate thinks everybody should be on peptides. Should do research on it.

because of that, there's, you know, conspiracy theorists, like, big pharma doesn't like that. And so they're getting a lot of pushback. But my husband's, like, number one advocate thinks everybody should be on peptides. Should do research on it.

43:20

Yes. Semma so semaglutide, which is Ozempic or wigovey. That's the generic name. Semaglutide is a peptide.

Yes. Semma so semaglutide, which is Ozempic or wigovey. That's the generic name. Semaglutide is a peptide.

43:26

I am. But Yeah. I don't think that can get banned. I think, people will ride in the streets right now if those epic got banned.

I am. But Yeah. I don't think that can get banned. I think, people will ride in the streets right now if those epic got banned.

43:34

You also just will close out the section. You wrote

You also just will close out the section. You wrote

43:37

life slash partner hack from from woman to a man from a woman to a man dot dot dot. What what's your what's your hacked? Yeah. Well, this also comes from my husband.

life slash partner hack from from woman to a man from a woman to a man dot dot dot. What what's your what's your hacked? Yeah. Well, this also comes from my husband.

43:45

Yeah. His his hack is that,

Yeah. His his hack is that,

43:48

the best money he's ever spent on being in a marriage is a subscription

the best money he's ever spent on being in a marriage is a subscription

43:52

to flowers on a monthly basis for your wife.

to flowers on a monthly basis for your wife.

43:55

And I totally stand by this because it's cheap. There's this one I would use called farm farm girl flowers. I don't have any affiliation. I'm not an investor. But it's like beautifully little burlap

And I totally stand by this because it's cheap. There's this one I would use called farm farm girl flowers. I don't have any affiliation. I'm not an investor. But it's like beautifully little burlap

44:04

tied bow, etcetera.

tied bow, etcetera.

44:06

And,

And,

44:07

and comes every single month. You don't have to think about it. You get auto gifts for your wife And I'm pretty sure I'll I'll take any I'll take almost any guarantee that there will never be a wife that would be mad if they got this on a consistent basis. But husbands are just not gonna remember consistently. So, like, do yourself a sullen and just, you know, buy some flowers on a consistent basis. Okay. This is interesting to me. So First of all,

and comes every single month. You don't have to think about it. You get auto gifts for your wife And I'm pretty sure I'll I'll take any I'll take almost any guarantee that there will never be a wife that would be mad if they got this on a consistent basis. But husbands are just not gonna remember consistently. So, like, do yourself a sullen and just, you know, buy some flowers on a consistent basis. Okay. This is interesting to me. So First of all,

44:28

what's the deal with flowers? Why do girls with flowers so much?

what's the deal with flowers? Why do girls with flowers so much?

44:31

Is there does it do something for you? Is it like a mood brightener when you see it in the room, what is the actual appeal here? Cause if I see flowers,

Is there does it do something for you? Is it like a mood brightener when you see it in the room, what is the actual appeal here? Cause if I see flowers,

44:40

nothing, needle doesn't move. Doesn't do anything for me. Inside. Like, a candle Like, if I smell a candle, I'm in.

nothing, needle doesn't move. Doesn't do anything for me. Inside. Like, a candle Like, if I smell a candle, I'm in.

44:46

You know, if,

You know, if,

44:48

I don't know if we buy, like, a nice, little piece of art. I like it. I see it. It does something for flowers. I just don't get it. What is the why? What is the about is it the flowers or is it this man loves me? Is that what it is? It's just, like, reassurance definitely not the love part. It's definitely flowers. Actually, the flowers.

I don't know if we buy, like, a nice, little piece of art. I like it. I see it. It does something for flowers. I just don't get it. What is the why? What is the about is it the flowers or is it this man loves me? Is that what it is? It's just, like, reassurance definitely not the love part. It's definitely flowers. Actually, the flowers.

45:05

It's,

It's,

45:06

that could be both. No. I think when you're in a relationship,

that could be both. No. I think when you're in a relationship,

45:10

Yeah. It's lovely. You're just like, oh, you know, it's such a low if you think about high ROI low ash pain, number one winner, like, number one winner.

Yeah. It's lovely. You're just like, oh, you know, it's such a low if you think about high ROI low ash pain, number one winner, like, number one winner.

45:19

But I I think it's actually just we like plants and flowers. I don't know if that's a pre, you know, genetic disposition or if,

But I I think it's actually just we like plants and flowers. I don't know if that's a pre, you know, genetic disposition or if,

45:27

you know, society's

you know, society's

45:29

Patriarchy

Patriarchy

45:30

is upon us, but, like, women like flowers. And so I don't know what the thing is. But also the fact that, like, I remember when I was younger, Sean, like, I don't I can't remember if you've ever said one on here, but when I was young and I had no money, there was very low hanging fruit things. For what a rich person would have. And one of them was, like, one day, I'll have fresh flowers in my house every single day, and that'll mean I'm super rich.

is upon us, but, like, women like flowers. And so I don't know what the thing is. But also the fact that, like, I remember when I was younger, Sean, like, I don't I can't remember if you've ever said one on here, but when I was young and I had no money, there was very low hanging fruit things. For what a rich person would have. And one of them was, like, one day, I'll have fresh flowers in my house every single day, and that'll mean I'm super rich.

45:55

And Oh, okay. So I think there's a part of it that's also just, like, this is such a long period. Moment.

And Oh, okay. So I think there's a part of it that's also just, like, this is such a long period. Moment.

46:01

Right. And this is just for me. I can't speak to anybody else. But now when I see them, I'm like, oh, it means we're doing okay, you know. And even if it's on a And you know, he didn't think he thought about it once three years ago. It doesn't matter. You just have the following I still love it. Okay. Just one of the flowers. Okay. I'm gonna report back. I'm gonna try this report back. Report back. But don't tell her I don't care, and I just set it up on subscription three years ago. No no qualifiers.

Right. And this is just for me. I can't speak to anybody else. But now when I see them, I'm like, oh, it means we're doing okay, you know. And even if it's on a And you know, he didn't think he thought about it once three years ago. It doesn't matter. You just have the following I still love it. Okay. Just one of the flowers. Okay. I'm gonna report back. I'm gonna try this report back. Report back. But don't tell her I don't care, and I just set it up on subscription three years ago. No no qualifiers.

46:25

Okay?

Okay?

46:27

Well, you know, no guarantees with me. Alright. So,

Well, you know, no guarantees with me. Alright. So,

46:30

let's go to the the small business acquisition stuff. So Yeah. First, explain your business model. So you got a media business,

let's go to the the small business acquisition stuff. So Yeah. First, explain your business model. So you got a media business,

46:38

which is you create content, and your

which is you create content, and your

46:41

your output is insane.

your output is insane.

46:42

Like, I put, you,

Like, I put, you,

46:44

pump and Sahel, I feel like are so consistent

pump and Sahel, I feel like are so consistent

46:48

and so omnipresent

and so omnipresent

46:50

everywhere and so consistent with your message.

everywhere and so consistent with your message.

46:53

It is unbelievable to me. I can't I I can't imagine myself even doing that, even though I call myself a content creator in comparison to you guys. I'm nothing. I'm just a guy you know, who talks to his friend, Sam, twice a week. So, like, the way you guys do it is crazy, that's a media business. That can be profitable on its own. People, maybe advertise,

It is unbelievable to me. I can't I I can't imagine myself even doing that, even though I call myself a content creator in comparison to you guys. I'm nothing. I'm just a guy you know, who talks to his friend, Sam, twice a week. So, like, the way you guys do it is crazy, that's a media business. That can be profitable on its own. People, maybe advertise,

47:12

subscribe. I think you have, like, a paid community or something like that that people pay for. Yep. I think that's pretty lucrative. Right? Like, that's a big moneymaker for you. Yeah. Well, a couple One thing that's interesting to those three people you picked, what's the common denominator between all three of us?

subscribe. I think you have, like, a paid community or something like that that people pay for. Yep. I think that's pretty lucrative. Right? Like, that's a big moneymaker for you. Yeah. Well, a couple One thing that's interesting to those three people you picked, what's the common denominator between all three of us?

47:25

We were all in finance, which is categorically a fucking miserable industry in to be in for the most part. And we all I think all of us did private equity or investment banking, which means that we had crazy, crazy hours for a long time. Right. And so anytime,

We were all in finance, which is categorically a fucking miserable industry in to be in for the most part. And we all I think all of us did private equity or investment banking, which means that we had crazy, crazy hours for a long time. Right. And so anytime,

47:40

like, somebody talks to me, like, I was kinda gabriel when the creator's like, I'm burnt out. I'm, like, from filming TikTok.

like, somebody talks to me, like, I was kinda gabriel when the creator's like, I'm burnt out. I'm, like, from filming TikTok.

47:46

Like, for a couple hours. Like, I think we're fine. That tweet fatigued you?

Like, for a couple hours. Like, I think we're fine. That tweet fatigued you?

47:50

Yeah. It's totally we're gonna be okay. And so I think Probably we're good at output because anything that can be, like, mechanized,

Yeah. It's totally we're gonna be okay. And so I think Probably we're good at output because anything that can be, like, mechanized,

47:59

systematized,

systematized,

48:00

and replicated consistently, finance people are usually pretty good. So you you have the content business. And then you have your buying businesses stuff. Is there a third part of what you do? Like, just passive investing or anything like that, or those are the two things that you do? Well, I guess we have sort of three different businesses now. So one is the content business, which is the one that's super public.

and replicated consistently, finance people are usually pretty good. So you you have the content business. And then you have your buying businesses stuff. Is there a third part of what you do? Like, just passive investing or anything like that, or those are the two things that you do? Well, I guess we have sort of three different businesses now. So one is the content business, which is the one that's super public.

48:21

And we kinda stumbled into that.

And we kinda stumbled into that.

48:23

It's why I think only two years ago. So that would be, like, the latter part of twenty twenty

It's why I think only two years ago. So that would be, like, the latter part of twenty twenty

48:28

is when,

is when,

48:29

we started creating a business around content and I was in private equity at the time when I started that.

we started creating a business around content and I was in private equity at the time when I started that.

48:35

And then,

And then,

48:37

that today is comprised of, like, newsletter.

that today is comprised of, like, newsletter.

48:40

We have a community.

We have a community.

48:41

We have,

We have,

48:42

a bunch of different media channels. And now I guess couple newsletters.

a bunch of different media channels. And now I guess couple newsletters.

48:47

We have a course

We have a course

48:48

on buy businesses,

on buy businesses,

48:50

and we do a little bit of ad sponsorship stuff. I don't don't really love that. I think we're gonna change the model to only talk about the products of the businesses we own and our own products. So I'm kinda messing around with that. Looking at, like, how the daily wire does it, for instance.

and we do a little bit of ad sponsorship stuff. I don't don't really love that. I think we're gonna change the model to only talk about the products of the businesses we own and our own products. So I'm kinda messing around with that. Looking at, like, how the daily wire does it, for instance.

49:04

And then the second business we have is what was the family office, what's now main street holding company. And that is, like, the small businesses that I talk about. So we've owned everything from podcast production businesses

And then the second business we have is what was the family office, what's now main street holding company. And that is, like, the small businesses that I talk about. So we've owned everything from podcast production businesses

49:16

to,

to,

49:17

graphic design agencies,

graphic design agencies,

49:19

to laundromats,

to laundromats,

49:20

to car washes,

to car washes,

49:22

to See, this is your own money. This is, you raised money. What happens?

to See, this is your own money. This is, you raised money. What happens?

49:26

My own money. So it's your own money. You're using to buy these. And so that's the portfolio. And you said there's three business. What's the third? And the third is we have a venture capital fund, and then we also have, I guess, alongside that my own passive angel investments or whatever. And so those would be, like, Home Health we did in the venture fund.

My own money. So it's your own money. You're using to buy these. And so that's the portfolio. And you said there's three business. What's the third? And the third is we have a venture capital fund, and then we also have, I guess, alongside that my own passive angel investments or whatever. And so those would be, like, Home Health we did in the venture fund.

49:44

We invested in Andrew Wilkinson's media company was just a personal investment that I did. It didn't go into the to the VC company. So that's where, like, our minority investments go. Okay. And when did you get rich? Was it

We invested in Andrew Wilkinson's media company was just a personal investment that I did. It didn't go into the to the VC company. So that's where, like, our minority investments go. Okay. And when did you get rich? Was it

49:56

after all this, were you rich before you started all this? What was the, like, where was your, kinda, like, like, okay. The podcast called my first mailing? When did you make your first note? Was it in the private equity investment banking world, or was it after that when you went on your own? No. I made my first million when I was working for other people. I'm, like, the opposite of view. I'm not really as I was risk scares me, actually. So, like, I could have never gone and done what, like, Sean and Sam did, which is start a business like Sam did, have no money.

after all this, were you rich before you started all this? What was the, like, where was your, kinda, like, like, okay. The podcast called my first mailing? When did you make your first note? Was it in the private equity investment banking world, or was it after that when you went on your own? No. I made my first million when I was working for other people. I'm, like, the opposite of view. I'm not really as I was risk scares me, actually. So, like, I could have never gone and done what, like, Sean and Sam did, which is start a business like Sam did, have no money.

50:24

Sleep on a couch, like, Hormozy, and then, like, hope that business hurts in a hundred and sixty million. That, like, scares me too much. I'm a wuss. And so I worked in corporate for a long, long, long time.

Sleep on a couch, like, Hormozy, and then, like, hope that business hurts in a hundred and sixty million. That, like, scares me too much. I'm a wuss. And so I worked in corporate for a long, long, long time.

50:33

I ran a bunch of the businesses. I became a partner in them. And so I made millions before

I ran a bunch of the businesses. I became a partner in them. And so I made millions before

50:38

I ever really ran my own thing by myself.

I ever really ran my own thing by myself.

50:41

And I was actually so scared to leave the big corporate,

And I was actually so scared to leave the big corporate,

50:45

I don't know, canopy

I don't know, canopy

50:47

that,

that,

50:48

I bought businesses while I was still working for somebody else. You say you bought businesses, these are, like, the, like, I bought a car wash laundromat type of thing, or what what type of businesses you're buying? Yeah. Well, I bought some back in the day that but they didn't make me any money. It was like, I bought a website. I bought a fashion styling marketplace. Those threads were fine back in the day. I bought another one called Saline South. But the ones that started making me real money were the boring ones. Like, I tried the sexy things websites, and I wasn't very good at them. And then it was, oh, wait. If I buy

I bought businesses while I was still working for somebody else. You say you bought businesses, these are, like, the, like, I bought a car wash laundromat type of thing, or what what type of businesses you're buying? Yeah. Well, I bought some back in the day that but they didn't make me any money. It was like, I bought a website. I bought a fashion styling marketplace. Those threads were fine back in the day. I bought another one called Saline South. But the ones that started making me real money were the boring ones. Like, I tried the sexy things websites, and I wasn't very good at them. And then it was, oh, wait. If I buy

51:17

Elondra Matt. I it's I have a hard time fucking this thing up. Like, I can make some money on that, and I can have somebody else run it

Elondra Matt. I it's I have a hard time fucking this thing up. Like, I can make some money on that, and I can have somebody else run it

51:25

And if I pay that somebody else, and then we have three or four or five of them, that's enough money for them to make a good look in me to make a good living. Then maybe we could do that exact same thing in a bunch of different sectors. And I just back then when I was doing that, that was not cool. Now I feel like it's kinda cool. The holding company thing cool on Twitter. Right.

And if I pay that somebody else, and then we have three or four or five of them, that's enough money for them to make a good look in me to make a good living. Then maybe we could do that exact same thing in a bunch of different sectors. And I just back then when I was doing that, that was not cool. Now I feel like it's kinda cool. The holding company thing cool on Twitter. Right.

51:44

In fact, I didn't tell anybody that I owned laundromats. One, I thought I might get fired because

In fact, I didn't tell anybody that I owned laundromats. One, I thought I might get fired because

51:49

it could be considered a conflict of interest.

it could be considered a conflict of interest.

51:52

So I was concerned about that. And then,

So I was concerned about that. And then,

51:54

secondly, I didn't think it was that cool. You know, at the time, I was like running the Latin American investment business. And so we had a billion dollars in assets under management. I built the thing from zero for this company called First Trust.

secondly, I didn't think it was that cool. You know, at the time, I was like running the Latin American investment business. And so we had a billion dollars in assets under management. I built the thing from zero for this company called First Trust.

52:05

And

And

52:06

Everybody thought that job was really cool, including my parents. They're, like, super proud. But I hated it, was going through divorce.

Everybody thought that job was really cool, including my parents. They're, like, super proud. But I hated it, was going through divorce.

52:14

And was working like seventy hours a week and on red eyes to Chile, basically weekly.

And was working like seventy hours a week and on red eyes to Chile, basically weekly.

52:19

And so I bought the businesses to get the fuck out of corporate. And then when I finally replaced my income is when I thought, oh, well, now I'm gonna take a jump and become a partner at a private equity fund. And then finally, I got the balls to go do it all by myself, but it took me a long time to get there.

And so I bought the businesses to get the fuck out of corporate. And then when I finally replaced my income is when I thought, oh, well, now I'm gonna take a jump and become a partner at a private equity fund. And then finally, I got the balls to go do it all by myself, but it took me a long time to get there.

52:35

Yeah. That's I've always got their their path. I I always joke, like, You hear these stories like, oh, Mark Cuban, when he was six years old, started a newspaper route, then a lemonade stand, and then hired his friends. I'm like, you're not even know the word business till I was nineteen. You know, you definitely don't need to you know, you everybody's got a different starting points. So that's for sure. So you,

Yeah. That's I've always got their their path. I I always joke, like, You hear these stories like, oh, Mark Cuban, when he was six years old, started a newspaper route, then a lemonade stand, and then hired his friends. I'm like, you're not even know the word business till I was nineteen. You know, you definitely don't need to you know, you everybody's got a different starting points. So that's for sure. So you,

52:54

let's talk about the laundromat thing. I've told the story on the pod before, but I was at a dinner once with this guy who, was a CEO of a public company. And he was, like,

let's talk about the laundromat thing. I've told the story on the pod before, but I was at a dinner once with this guy who, was a CEO of a public company. And he was, like,

53:03

he he was, like, fast. He's, like, you know, you know, people are, like, really busy. They don't use social media. So he's, like, He's trying to relate to me. So he's like, oh, you do podcast? What's what's the name? I mean, I could say he doesn't even know where the podcast app is because he's does real work for a living. And so he's like, he's like, I'll definitely subscribe. Can you show me how? How do you subscribe to a podcast? I've always wanted to know. And I'm like, wow, this guy is like, you know, just getting going. And one of the things he said, he's like, he's like, you know, I see these people on Instagram talking about laundromats.

he he was, like, fast. He's, like, you know, you know, people are, like, really busy. They don't use social media. So he's, like, He's trying to relate to me. So he's like, oh, you do podcast? What's what's the name? I mean, I could say he doesn't even know where the podcast app is because he's does real work for a living. And so he's like, he's like, I'll definitely subscribe. Can you show me how? How do you subscribe to a podcast? I've always wanted to know. And I'm like, wow, this guy is like, you know, just getting going. And one of the things he said, he's like, he's like, you know, I see these people on Instagram talking about laundromats.

53:31

And he's like,

And he's like,

53:33

Are we all just fucking stupid and we should just be buying laundromats?

Are we all just fucking stupid and we should just be buying laundromats?

53:36

Or are they stupid? And they they think laundromats are a great business. He's like, it's who's stupid? He's like, I'm worried I'm stupid. And then I shouldn't be doing all this, like, stressful work running this, like, company with thousands of employees.

Or are they stupid? And they they think laundromats are a great business. He's like, it's who's stupid? He's like, I'm worried I'm stupid. And then I shouldn't be doing all this, like, stressful work running this, like, company with thousands of employees.

53:46

Do I just need to go buy four laundromats and chill? Like, is that actually the answer? And so he was, laughing about it. And he's, like, it can't be that good. And I was, like, dude, I honestly don't know what to say. I've never bought one of these boring businesses. Don't intend to own a laundromat in Albuquerque or whatever. Like, that's not my my jam, but

Do I just need to go buy four laundromats and chill? Like, is that actually the answer? And so he was, laughing about it. And he's, like, it can't be that good. And I was, like, dude, I honestly don't know what to say. I've never bought one of these boring businesses. Don't intend to own a laundromat in Albuquerque or whatever. Like, that's not my my jam, but

54:01

it is for some people, and you obviously are an advocate for it. So this is your opportunity. So so educate me. Drop some knowledge on me. Okay.

it is for some people, and you obviously are an advocate for it. So this is your opportunity. So so educate me. Drop some knowledge on me. Okay.

54:09

What is this deal with buying? You can pick either. Actually, just do laundry back, not call I I actually know the car wash business a little bit, but let's do laundromat.

What is this deal with buying? You can pick either. Actually, just do laundry back, not call I I actually know the car wash business a little bit, but let's do laundromat.

54:17

Yeah.

Yeah.

54:18

I call these Gateway drug businesses. So basically,

I call these Gateway drug businesses. So basically,

54:21

no. If you're a billionaire, you shouldn't go buy laundromat. This is a terrible idea. The reason I talk about it is because

no. If you're a billionaire, you shouldn't go buy laundromat. This is a terrible idea. The reason I talk about it is because

54:28

I have a belief that I think a lot of people don't have that Almost anybody

I have a belief that I think a lot of people don't have that Almost anybody

54:32

could

could

54:33

have a business that they currently work as a job, let's say, and have some ownership in that business. And in fact, the world would be a lot better off if we all had a little bit of skin in the game. That's like my little hill that I wanna die on. And

have a business that they currently work as a job, let's say, and have some ownership in that business. And in fact, the world would be a lot better off if we all had a little bit of skin in the game. That's like my little hill that I wanna die on. And

54:46

And so when I first started talking about this, I was like, the thing is, I've been in finance. Like, I went through all the levels, and we won't Everybody else to think that we're smarter than them would wear a finance. And we're actually not because the worst part about running the laundromat is not reading the P and L. The worst part about running the laundromat is like, The machine breaks. What do do? There's a homeless person there. Like, how do you handle that? Somebody breaks into

And so when I first started talking about this, I was like, the thing is, I've been in finance. Like, I went through all the levels, and we won't Everybody else to think that we're smarter than them would wear a finance. And we're actually not because the worst part about running the laundromat is not reading the P and L. The worst part about running the laundromat is like, The machine breaks. What do do? There's a homeless person there. Like, how do you handle that? Somebody breaks into

55:10

your laundromat and breaks the glass door. And, like, a any human could handle that.

your laundromat and breaks the glass door. And, like, a any human could handle that.

55:15

And so, I talk about laundromats one because that is one of the first businesses I bought. So it's just was, you know, recency bias. And then two, because I think if you can't understand taking a coin, putting in a machine, getting out clean clothes or dry clothes from it, and running that business model, you probably should have run a business. That's like a very simplistic

And so, I talk about laundromats one because that is one of the first businesses I bought. So it's just was, you know, recency bias. And then two, because I think if you can't understand taking a coin, putting in a machine, getting out clean clothes or dry clothes from it, and running that business model, you probably should have run a business. That's like a very simplistic

55:33

business model.

business model.

55:35

But This is why I've been obsessing on levels to the game. The problem with laundromats are they're a terrible business if you're really good at business. So like if you're good at business,

But This is why I've been obsessing on levels to the game. The problem with laundromats are they're a terrible business if you're really good at business. So like if you're good at business,

55:44

The the laundromat, I invested in one laundromat. It wasn't one that I owned complete,

The the laundromat, I invested in one laundromat. It wasn't one that I owned complete,

55:49

control of that did three million dollars a year. That's the biggest laundromat that I've ever seen individually. That's revenue. What is that? That's revenue. So three million dollars a year. Okay. Let's get up. I So this is is it, like, one of these, like, jumbo, like,

control of that did three million dollars a year. That's the biggest laundromat that I've ever seen individually. That's revenue. What is that? That's revenue. So three million dollars a year. Okay. Let's get up. I So this is is it, like, one of these, like, jumbo, like,

56:03

I've seen some of these laundromats that look like full on shops or something like that. They're, like, huge. Yeah. It's a very big laundromat.

I've seen some of these laundromats that look like full on shops or something like that. They're, like, huge. Yeah. It's a very big laundromat.

56:09

So it's doing like eight grand a day.

So it's doing like eight grand a day.

56:11

Yeah. They do fifteen percent margins.

Yeah. They do fifteen percent margins.

56:14

And the way they do them is actually through the wash and folds business.

And the way they do them is actually through the wash and folds business.

56:18

Not the walk in laundry business. Okay. Gotcha.

Not the walk in laundry business. Okay. Gotcha.

56:21

And so the real business where the higher level customers are and where you make more money is

And so the real business where the higher level customers are and where you make more money is

56:27

you know, single mom wants to put her bag of of clothes outside of her door, you pick it up, you wash it, you drop it back off. It requires

you know, single mom wants to put her bag of of clothes outside of her door, you pick it up, you wash it, you drop it back off. It requires

56:34

cars and logistics and some oversight. It's more complex.

cars and logistics and some oversight. It's more complex.

56:39

The average laundromat makes somewhere around a hundred to five hundred thousand dollars a year.

The average laundromat makes somewhere around a hundred to five hundred thousand dollars a year.

56:45

Like, that's what a laundromat makes at fifteen to ten to fifteen percent margins.

Like, that's what a laundromat makes at fifteen to ten to fifteen percent margins.

56:50

And there's, like, not that much you could do once you have a laundromat

And there's, like, not that much you could do once you have a laundromat

56:55

to get a long to get a laundromat that's doing a hundred thousand to five hundred thousand. It's really hard. Is location dependent or what what's the bottleneck there?

to get a long to get a laundromat that's doing a hundred thousand to five hundred thousand. It's really hard. Is location dependent or what what's the bottleneck there?

57:03

Yeah. Your location dependent also just demographics of of your you know, segment. So if you're in a a poorer neighborhood, wash and fold might not be as much of a driver Right. For you. If you're in a higher end neighborhood, it could be.

Yeah. Your location dependent also just demographics of of your you know, segment. So if you're in a a poorer neighborhood, wash and fold might not be as much of a driver Right. For you. If you're in a higher end neighborhood, it could be.

57:17

Competition.

Competition.

57:18

And so those are making, you know,

And so those are making, you know,

57:20

between, you know, twenty and fifty thousand dollars a year for the owner. Yep. That's right. So you got, like, you know, you have to do multiple of these. Otherwise, if you own one, you're

between, you know, twenty and fifty thousand dollars a year for the owner. Yep. That's right. So you got, like, you know, you have to do multiple of these. Otherwise, if you own one, you're

57:31

working the job of an owner, but making the wage of a, you know, minimum wage employee or So so you wanna own multiple? That would be the the play here. Well, I think it depends. This is where I think business acquisition gets interesting. It's like, who are you and what do you want? Everybody always asks me, like, what's the best sector to buy? And I'm like, that's a dumb question. The best sector to buy is, like, the one that's uniquely aligned to you. So what what was it for you? What was it for The reason I bought the laundromat is because I had been an operator that already knew how to run laundromats

working the job of an owner, but making the wage of a, you know, minimum wage employee or So so you wanna own multiple? That would be the the play here. Well, I think it depends. This is where I think business acquisition gets interesting. It's like, who are you and what do you want? Everybody always asks me, like, what's the best sector to buy? And I'm like, that's a dumb question. The best sector to buy is, like, the one that's uniquely aligned to you. So what what was it for you? What was it for The reason I bought the laundromat is because I had been an operator that already knew how to run laundromats

57:57

and had found one that we could buy for very cheap. And I was like, I don't like a lot of risk. I could I could front a hard k. Okay.

and had found one that we could buy for very cheap. And I was like, I don't like a lot of risk. I could I could front a hard k. Okay.

58:06

Buy this. And then if we run that and that works, Let's get three to five of them and get rolling.

Buy this. And then if we run that and that works, Let's get three to five of them and get rolling.

58:12

But, like, a lot of people that I talk to, you know, maybe you're a teacher, and you have six months off during the year. And then why wouldn't you own a little laundromat?

But, like, a lot of people that I talk to, you know, maybe you're a teacher, and you have six months off during the year. And then why wouldn't you own a little laundromat?

58:20

And then I like to compare it versus houses or, like, short term rentals.

And then I like to compare it versus houses or, like, short term rentals.

58:24

If they average short term rentals, we should check my numbers, but does somewhere like a hundred and twenty, a hundred and sixty dollars in net income a month?

If they average short term rentals, we should check my numbers, but does somewhere like a hundred and twenty, a hundred and sixty dollars in net income a month?

58:33

And you put up two hundred and fifty thousand dollars on average for one of those homes?

And you put up two hundred and fifty thousand dollars on average for one of those homes?

58:37

So, like, compare a single family home for two hundred fifty k versus a laundromat for a hundred k and this one's making you thirty, fifty thousand dollars a year. And,

So, like, compare a single family home for two hundred fifty k versus a laundromat for a hundred k and this one's making you thirty, fifty thousand dollars a year. And,

58:47

I'm sorry, twenty to forty thousand dollars a year. And this one's making you a couple thousand dollars a year. It's actually kind of a good that's a better risk reward trade off. And so I think it just depends.

I'm sorry, twenty to forty thousand dollars a year. And this one's making you a couple thousand dollars a year. It's actually kind of a good that's a better risk reward trade off. And so I think it just depends.

58:57

And then the other thing I think is You start with one business, and not a lot of not a lot of Americans are probably like your listeners.

And then the other thing I think is You start with one business, and not a lot of not a lot of Americans are probably like your listeners.

59:06

A lot of Americans, like, haven't run a big business before, wouldn't know what to do with the tech business. And so them starting with something pretty simple in their local community, and then they go, okay. Know how to run this. I made twenty to fifty k on it. I didn't risk my house by buying too big of a business or starting too big of a business. Now I go and sell this to somebody else and do a bigger endeavor. Least that's how I think about it. So you're the first business you bought were was a laundromat, or was it something else? My very first business was a website. Back to that. Alright. So you bought the website stuff and you went brick and mortar after that? Yeah. Brick and mortar. Wandermant was my first brick and mortar business. What'd you do after that?

A lot of Americans, like, haven't run a big business before, wouldn't know what to do with the tech business. And so them starting with something pretty simple in their local community, and then they go, okay. Know how to run this. I made twenty to fifty k on it. I didn't risk my house by buying too big of a business or starting too big of a business. Now I go and sell this to somebody else and do a bigger endeavor. Least that's how I think about it. So you're the first business you bought were was a laundromat, or was it something else? My very first business was a website. Back to that. Alright. So you bought the website stuff and you went brick and mortar after that? Yeah. Brick and mortar. Wandermant was my first brick and mortar business. What'd you do after that?

59:42

After that, we bought a couple of them. So we bought multiple laundromats,

After that, we bought a couple of them. So we bought multiple laundromats,

59:46

and then we kept buying laundromats.

and then we kept buying laundromats.

59:48

How many laundromats did you buy?

How many laundromats did you buy?

59:50

In total, I probably owned, like, twenty five or thirty laundromats over my career of laundromatting.

In total, I probably owned, like, twenty five or thirty laundromats over my career of laundromatting.

59:57

But that first little portfolio was probably seven or eight. Okay. And I was working full time at the time. I was at a company called First Trust, then mostly in Latin America, so I couldn't do too much with it back then. And give me the best deal you ever did and the worst deal you ever did. The best let's see. The worst deal I did,

But that first little portfolio was probably seven or eight. Okay. And I was working full time at the time. I was at a company called First Trust, then mostly in Latin America, so I couldn't do too much with it back then. And give me the best deal you ever did and the worst deal you ever did. The best let's see. The worst deal I did,

01:00:15

We had one business entirely go under.

We had one business entirely go under.

01:00:18

So we invested in a business where we got lied to stolen

So we invested in a business where we got lied to stolen

01:00:23

from, that was a small business that supported other small businesses,

from, that was a small business that supported other small businesses,

01:00:28

from a tax and accounting perspective. They didn't do the taxes, but they did bookmark, bookkeeping and kind of funny that they would be the ones to do the stealing. Right. But that's The biggest issue in buying small businesses, and I think I lost I probably lost a couple hundred k on that deal.

from a tax and accounting perspective. They didn't do the taxes, but they did bookmark, bookkeeping and kind of funny that they would be the ones to do the stealing. Right. But that's The biggest issue in buying small businesses, and I think I lost I probably lost a couple hundred k on that deal.

01:00:44

And

And

01:00:45

The biggest issue with buying small businesses is that

The biggest issue with buying small businesses is that

01:00:48

you run out of cash because

you run out of cash because

01:00:51

they either lied to you about the business that you bought and how much money it has in it or they lied by omission. They didn't quite realize, you know, that they needed to share this with you, or they didn't actually track their finances. Very well. And so you ended up buying something you didn't want. So that that one I got stolen from, but a lot of times, the small businesses do not actually have the finances that I'm that I think they do. What about the best deal? Yeah. The best deal that I've ever did was probably,

they either lied to you about the business that you bought and how much money it has in it or they lied by omission. They didn't quite realize, you know, that they needed to share this with you, or they didn't actually track their finances. Very well. And so you ended up buying something you didn't want. So that that one I got stolen from, but a lot of times, the small businesses do not actually have the finances that I'm that I think they do. What about the best deal? Yeah. The best deal that I've ever did was probably,

01:01:16

mostly from the land acquisition.

mostly from the land acquisition.

01:01:19

So we basically bought a big plot of land that had an RV park on it.

So we basically bought a big plot of land that had an RV park on it.

01:01:24

Also like a series of vending machines, also like a little

Also like a series of vending machines, also like a little

01:01:28

area for people to to camp and you know,

area for people to to camp and you know,

01:01:32

go into nature or whatever.

go into nature or whatever.

01:01:34

And that business,

And that business,

01:01:36

the appreciation of the land ended up being what what paid the most for it. So that business made us a few million bucks, which is kinda cool. And we definitely didn't put that in.

the appreciation of the land ended up being what what paid the most for it. So that business made us a few million bucks, which is kinda cool. And we definitely didn't put that in.

01:01:45

And maybe the other business that I think will be my best deal ever is a series of car washes we bought because ever since this company called mister car wash, with public, the tune of billions of billions of dollars. Multiples went up.

And maybe the other business that I think will be my best deal ever is a series of car washes we bought because ever since this company called mister car wash, with public, the tune of billions of billions of dollars. Multiples went up.

01:01:57

Oh, fuck. I mean, we've got offers that are just wild on these. So I I don't wanna I wanna knock on wood that that one actually goes through. But we sold out of a bunch of our laundromats at create multiples, and I think we'll sell a lot of our car washes at at really, really good multiples.

Oh, fuck. I mean, we've got offers that are just wild on these. So I I don't wanna I wanna knock on wood that that one actually goes through. But we sold out of a bunch of our laundromats at create multiples, and I think we'll sell a lot of our car washes at at really, really good multiples.

01:02:11

But I don't always talk about my best deals because

But I don't always talk about my best deals because

01:02:14

it's, like, I don't think you should get into these with an idea that you're gonna have some crazy exit. Like, you're gonna cash flow. That's the goal. You cash flow. And if you wanna have a crazy multiple exit,

it's, like, I don't think you should get into these with an idea that you're gonna have some crazy exit. Like, you're gonna cash flow. That's the goal. You cash flow. And if you wanna have a crazy multiple exit,

01:02:25

buying these tiny businesses unless you scale them up in a big way is probably not gonna be the way to do And me and Ben were debating this the other day. We were talking about, like, what's a good,

buying these tiny businesses unless you scale them up in a big way is probably not gonna be the way to do And me and Ben were debating this the other day. We were talking about, like, what's a good,

01:02:34

on the finance side, what's a good north star goal? And we were saying,

on the finance side, what's a good north star goal? And we were saying,

01:02:38

we just threw we threw out a bunch of ideas. Two of the ideas were,

we just threw we threw out a bunch of ideas. Two of the ideas were,

01:02:41

should we build up ten million dollars a year of annual cash flow as the goal out of this whole scope, or Should we just try to build a hundred million dollar portfolio value that's realized realized portfolio value

should we build up ten million dollars a year of annual cash flow as the goal out of this whole scope, or Should we just try to build a hundred million dollar portfolio value that's realized realized portfolio value

01:02:54

in roughly, you know, the same amount of time? And, of course, like, if you have ten million dollars of cash flow, you could probably sell it for a hundred million dollars. So it's not like these were totally different, but you would maybe buy different things because just trying to get to a hundred, you might not buy things. You could buy things that don't cash flow. You could just start a business if it doesn't. That's not that's not about cash flow. But if you need cash flow, you should have to go a certain route.

in roughly, you know, the same amount of time? And, of course, like, if you have ten million dollars of cash flow, you could probably sell it for a hundred million dollars. So it's not like these were totally different, but you would maybe buy different things because just trying to get to a hundred, you might not buy things. You could buy things that don't cash flow. You could just start a business if it doesn't. That's not that's not about cash flow. But if you need cash flow, you should have to go a certain route.

01:03:14

I'm curious two things. A, what would be your opinion on that? And, b,

I'm curious two things. A, what would be your opinion on that? And, b,

01:03:18

what's the goal for you? What do you what do you set as your kind of north star, your summit, that you're trying to trying to climb up to.

what's the goal for you? What do you what do you set as your kind of north star, your summit, that you're trying to trying to climb up to.

01:03:26

Yeah. Well, one what do you mean by realized value? You mean you actually wanna sell it and then get a hundred million from it, or you want a third party to mark it up and say that it is worth a hundred million dollars? The way I thought about it there was that it's,

Yeah. Well, one what do you mean by realized value? You mean you actually wanna sell it and then get a hundred million from it, or you want a third party to mark it up and say that it is worth a hundred million dollars? The way I thought about it there was that it's,

01:03:38

sold or sellable in a kind of more bulletproof way versus, like,

sold or sellable in a kind of more bulletproof way versus, like,

01:03:42

one business that on paper got marked up by one investor, but, you know, not really liquid. It's not a profitable business. So, you know, you couldn't actually exit for that amount.

one business that on paper got marked up by one investor, but, you know, not really liquid. It's not a profitable business. So, you know, you couldn't actually exit for that amount.

01:03:50

Which is often, like, the Silicon Valley had you get a hundred million dollar valuation, but you could never sell that business for a hundred million dollars type of thing. So not that, not the paper valuation,

Which is often, like, the Silicon Valley had you get a hundred million dollar valuation, but you could never sell that business for a hundred million dollars type of thing. So not that, not the paper valuation,

01:03:59

But either it's exited or, you know, if you ran a process for for sixty, ninety days with eighty percent certainty, you could get that value.

But either it's exited or, you know, if you ran a process for for sixty, ninety days with eighty percent certainty, you could get that value.

01:04:07

Yeah. Well,

Yeah. Well,

01:04:09

for me, I have an issue, which is that I'm pretty ADHD. I like to do a lot of different things. Like, if you look at my work history, I think the longest I ever stated a job was like five and a half years or something like that. And I was moving from different investment firms every two years or so.

for me, I have an issue, which is that I'm pretty ADHD. I like to do a lot of different things. Like, if you look at my work history, I think the longest I ever stated a job was like five and a half years or something like that. And I was moving from different investment firms every two years or so.

01:04:23

So I kind of like the portfolio approach because it allows me to be ADHD in a bunch of different businesses. And so I get to, like, pop in and pop out.

So I kind of like the portfolio approach because it allows me to be ADHD in a bunch of different businesses. And so I get to, like, pop in and pop out.

01:04:32

Theoretically, if I wanted to build a billion dollar business,

Theoretically, if I wanted to build a billion dollar business,

01:04:36

you could argue that if I have a great idea, that I really, really love. That would be a better way to get to a billion dollars.

you could argue that if I have a great idea, that I really, really love. That would be a better way to get to a billion dollars.

01:04:43

I just haven't had an idea that I was that obsessed with. And I thought it was fun. That I still need to do because I, you know, I've been pretty comfortable. I have I have enough cash to do sort of what I want now.

I just haven't had an idea that I was that obsessed with. And I thought it was fun. That I still need to do because I, you know, I've been pretty comfortable. I have I have enough cash to do sort of what I want now.

01:04:54

So I think our goal has always been.

So I think our goal has always been.

01:04:58

I kind of buy my own bullshit, which is for a long time I thought I was gonna just build a bunch of boring businesses into my little tiny version of KKR or Berkshire Hathaway.

I kind of buy my own bullshit, which is for a long time I thought I was gonna just build a bunch of boring businesses into my little tiny version of KKR or Berkshire Hathaway.

01:05:10

And I was gonna build up this this thing. And then You know, I did that for like fifteen years working for other people, and then I did it for a couple more years by myself. And I got to this point where I was like, I actually do not think it is good for the really, really few people to own everything.

And I was gonna build up this this thing. And then You know, I did that for like fifteen years working for other people, and then I did it for a couple more years by myself. And I got to this point where I was like, I actually do not think it is good for the really, really few people to own everything.

01:05:26

I think it is much better

I think it is much better

01:05:28

experientially

experientially

01:05:29

and just for society When you go to a local coffee shop, then when you go to Starbucks, nightmare. I refuse to go to Starbucks. We have like a company policy. You're not allowed to to buy from big corporate chains. And so I kinda thought, man, if I go and build this thing,

and just for society When you go to a local coffee shop, then when you go to Starbucks, nightmare. I refuse to go to Starbucks. We have like a company policy. You're not allowed to to buy from big corporate chains. And so I kinda thought, man, if I go and build this thing,

01:05:42

but I What happens if someone does walk into the stuff? Like, what do you do? Just hit it out of their smack that shit onto the floor. Actually, Tanner, his chair right now knows that. He walked into my place in California. We lived there for some of the year with two Starbucks. And I just looked at him. And I was like, what are we doing here? And he was like, and then the next week, because I have a good team. I ordered Chipotle on accident.

but I What happens if someone does walk into the stuff? Like, what do you do? Just hit it out of their smack that shit onto the floor. Actually, Tanner, his chair right now knows that. He walked into my place in California. We lived there for some of the year with two Starbucks. And I just looked at him. And I was like, what are we doing here? And he was like, and then the next week, because I have a good team. I ordered Chipotle on accident.

01:06:03

So that I had to then I had to pay for my own chipotle. So Tanners of the f word. What? Crappuccino.

So that I had to then I had to pay for my own chipotle. So Tanners of the f word. What? Crappuccino.

01:06:12

I,

I,

01:06:12

yeah, I don't know. I think once you start making enough money, like, at some point, you're like, I want my money to mean something, and I want all this work to mean something.

yeah, I don't know. I think once you start making enough money, like, at some point, you're like, I want my money to mean something, and I want all this work to mean something.

01:06:20

And,

And,

01:06:21

so I was like, I don't wanna own a billion dollar portfolio of small businesses and become everything that I talk shit about. That does that doesn't feel that great.

so I was like, I don't wanna own a billion dollar portfolio of small businesses and become everything that I talk shit about. That does that doesn't feel that great.

01:06:29

And instead,

And instead,

01:06:30

what we'll do is we're starting to buy a lot more businesses in the three cities that I'm really involved in, which is San Diego,

what we'll do is we're starting to buy a lot more businesses in the three cities that I'm really involved in, which is San Diego,

01:06:37

Austin, and Phoenix. And so I wanna own where I live. That seems to make sense to me and feel good, and then I can cash flow off that. And then the second thing I wanna do is I'm gonna go really aggressively

Austin, and Phoenix. And so I wanna own where I live. That seems to make sense to me and feel good, and then I can cash flow off that. And then the second thing I wanna do is I'm gonna go really aggressively

01:06:48

all in on. I'll ask you and Sam about it later if if you what you guys think, but we're gonna plow a couple million bucks and we're gonna raise a couple million bucks on one bet, which I've never done before. I've never

all in on. I'll ask you and Sam about it later if if you what you guys think, but we're gonna plow a couple million bucks and we're gonna raise a couple million bucks on one bet, which I've never done before. I've never

01:06:59

raised for any of my I've raised for some of my funds, obviously. But never for a single company. So I'm sort of nervous,

raised for any of my I've raised for some of my funds, obviously. But never for a single company. So I'm sort of nervous,

01:07:06

but I think we have an opportunity. Like to start or to buy. I bought the company already as an MVP.

but I think we have an opportunity. Like to start or to buy. I bought the company already as an MVP.

01:07:12

And then I'm gonna build something on top of it, and I'm gonna put in a new CEO.

And then I'm gonna build something on top of it, and I'm gonna put in a new CEO.

01:07:17

And I'm working right now and recruiting that CEO for this this business. And I'm guessing you can't talk about that right now?

And I'm working right now and recruiting that CEO for this this business. And I'm guessing you can't talk about that right now?

01:07:23

Not yet. I mean, not that anybody really cares on the internet, but your guys you guys m f r m f Emma's are doers. I feel like if I deal, there'll be thirty seven copy cats. My Monday.

Not yet. I mean, not that anybody really cares on the internet, but your guys you guys m f r m f Emma's are doers. I feel like if I deal, there'll be thirty seven copy cats. My Monday.

01:07:32

Hell, yeah, there will be. That's what we do.

Hell, yeah, there will be. That's what we do.

01:07:35

We we destroy all the margins for all of us collectively.

We we destroy all the margins for all of us collectively.

01:07:39

Maybe destroy alpha left or right. Alright. So you, so that's the game you're playing. You're wait. So sorry. You told me the game you're not playing. You're not playing the private equity build the next KKR game, you're building the own businesses where I live. I got that part of it, but that doesn't seem like the complete picture. What's the rest of the And how does, like Well, we have a portfolio that you could I mean, it depends how you value it, but let's say it's a it's worth about seventy five to a hundred million dollars. In in, A lot of car wash. Value right now. A lot of car wash. That's a lot a lot of stuff, baby.

Maybe destroy alpha left or right. Alright. So you, so that's the game you're playing. You're wait. So sorry. You told me the game you're not playing. You're not playing the private equity build the next KKR game, you're building the own businesses where I live. I got that part of it, but that doesn't seem like the complete picture. What's the rest of the And how does, like Well, we have a portfolio that you could I mean, it depends how you value it, but let's say it's a it's worth about seventy five to a hundred million dollars. In in, A lot of car wash. Value right now. A lot of car wash. That's a lot a lot of stuff, baby.

01:08:13

And then so we have that. That's cool.

And then so we have that. That's cool.

01:08:17

Really cool. Young Cody would be like, that's fucking wild.

Really cool. Young Cody would be like, that's fucking wild.

01:08:21

The next game we're gonna play is a really big single bet. And so,

The next game we're gonna play is a really big single bet. And so,

01:08:27

we'll have those two things. And why? Why not just retire and be trad wife and pumpkins and live, laugh, love?

we'll have those two things. And why? Why not just retire and be trad wife and pumpkins and live, laugh, love?

01:08:32

Dude, honestly, I bought those pumpkins, and I was painting them. It brought me no joy whatsoever.

Dude, honestly, I bought those pumpkins, and I was painting them. It brought me no joy whatsoever.

01:08:38

It brought me zero joy. And I remember I called my husband afterwards, and I was like, I feel nothing, and I must be dead inside. And so, Well, like, I have to buy this pumpkin company for this to have been worth it as a hobby.

It brought me zero joy. And I remember I called my husband afterwards, and I was like, I feel nothing, and I must be dead inside. And so, Well, like, I have to buy this pumpkin company for this to have been worth it as a hobby.

01:08:49

Yeah. Exactly. It's like some something's wrong with me. Well, I also think You do you, like, do you have hobbies, Shawn? Yeah. I got hobbies. I I I got hobbies. I love to play basketball, but my hobbies are Oh, yeah. You do. There are things that,

Yeah. Exactly. It's like some something's wrong with me. Well, I also think You do you, like, do you have hobbies, Shawn? Yeah. I got hobbies. I I I got hobbies. I love to play basketball, but my hobbies are Oh, yeah. You do. There are things that,

01:09:02

fall into, like, really specific categories. So not I I don't have, niche hobbies. Like, some people are like, oh, I love, you know, studying duck calls, and I have all these little duck kazoos or whatever though. Mine are not niche like that. They're very common things. I like playing poker. I like basketball. I like working out. I like, you know, like, like shit that everybody likes. Right? I'm, like, the basic bitch of, like, hobbies. However,

fall into, like, really specific categories. So not I I don't have, niche hobbies. Like, some people are like, oh, I love, you know, studying duck calls, and I have all these little duck kazoos or whatever though. Mine are not niche like that. They're very common things. I like playing poker. I like basketball. I like working out. I like, you know, like, like shit that everybody likes. Right? I'm, like, the basic bitch of, like, hobbies. However,

01:09:23

I like to do them in a certain way that makes them more fun to me. So for example,

I like to do them in a certain way that makes them more fun to me. So for example,

01:09:28

I got a lot of joy building a home gym and having a trainer who's like my boy who comes over and we work out here. And then friends

I got a lot of joy building a home gym and having a trainer who's like my boy who comes over and we work out here. And then friends

01:09:35

who we meet will come drop in for workouts with us. And so I like hang out with my friends when I do that. So I try to build a lifestyle around it or like basketball

who we meet will come drop in for workouts with us. And so I like hang out with my friends when I do that. So I try to build a lifestyle around it or like basketball

01:09:42

instead of just going play and pick a basketball twenty four hour fitness, We do this thing called CampMFN where we rent a house, rent a gym, fly in, you know, a bunch of awesome founders or kind of like celebrity people who love to play basketball and an NBA trainer, we spend the weekend pretending we're gonna be a player. Right? Like, we cosplay. And so I will try to take the hobbies, basic hobbies, but do them common hobbies in an uncommon way is what's done it for me, as far as being being a fun thing to invest in. I like that. Well, yeah. I need to I need hobbies, basically. I have none.

instead of just going play and pick a basketball twenty four hour fitness, We do this thing called CampMFN where we rent a house, rent a gym, fly in, you know, a bunch of awesome founders or kind of like celebrity people who love to play basketball and an NBA trainer, we spend the weekend pretending we're gonna be a player. Right? Like, we cosplay. And so I will try to take the hobbies, basic hobbies, but do them common hobbies in an uncommon way is what's done it for me, as far as being being a fun thing to invest in. I like that. Well, yeah. I need to I need hobbies, basically. I have none.

01:10:13

I like to work out. I like to hang out with, like, friends that, like, literally have the most boring hobbies imaginable. I really actually like working a lot, which is probably pretty sick.

I like to work out. I like to hang out with, like, friends that, like, literally have the most boring hobbies imaginable. I really actually like working a lot, which is probably pretty sick.

01:10:22

But my husband is, like, captain hobby. He's so Right. Good. He's, like, a fucking black belt in jujitsu or a put purple belt or something, and he's you know, former Navy seal, so he's amazing at shooting him and Sam are always hopping.

But my husband is, like, captain hobby. He's so Right. Good. He's, like, a fucking black belt in jujitsu or a put purple belt or something, and he's you know, former Navy seal, so he's amazing at shooting him and Sam are always hopping.

01:10:33

And I'm not. I'm just trying to say Sam hangs out with him because Sam, wants always be able to eat and kill everybody in the room or whatever Yo says. And, your husband would eat him as an appetizer. He's Sam is tapas for him. Like, this is duffin'. So I'm surprised that Sam allows himself to be in the same room.

And I'm not. I'm just trying to say Sam hangs out with him because Sam, wants always be able to eat and kill everybody in the room or whatever Yo says. And, your husband would eat him as an appetizer. He's Sam is tapas for him. Like, this is duffin'. So I'm surprised that Sam allows himself to be in the same room.

01:10:50

Sam does try to fight him a lot, which is Like, a very Sam is, you know, like, assigned to his dad. Oh, let's fight. And then the dad's like, okay. Sure. Let's play Russell. So Yeah. I'm gonna tell you one of the tip for hobbies. Yeah. Totally. You wanna get hobbies? There's two things that will force any person like us to get hobbies. The first,

Sam does try to fight him a lot, which is Like, a very Sam is, you know, like, assigned to his dad. Oh, let's fight. And then the dad's like, okay. Sure. Let's play Russell. So Yeah. I'm gonna tell you one of the tip for hobbies. Yeah. Totally. You wanna get hobbies? There's two things that will force any person like us to get hobbies. The first,

01:11:08

hang out with people that are completely post economic. So people who are literally wealthier than wealthy, because

hang out with people that are completely post economic. So people who are literally wealthier than wealthy, because

01:11:14

when you go to dinner with them, They don't wanna talk about

when you go to dinner with them, They don't wanna talk about

01:11:18

business deals. They're, like, completely

business deals. They're, like, completely

01:11:20

not that they're over. They're still in the game of business. It's just not interesting to them. It's not what makes for a new conversation, or it's not like it's no longer part of the status game because they're all they're also only with other people who are all very successful.

not that they're over. They're still in the game of business. It's just not interesting to them. It's not what makes for a new conversation, or it's not like it's no longer part of the status game because they're all they're also only with other people who are all very successful.

01:11:34

And so the status game then becomes

And so the status game then becomes

01:11:37

oh, my burning man camp was like this. And, oh, my new hobby is to do this. And, oh, I'm doing this crazy health kick where I'm, like, you know, taking blood from my feet and putting it into my arms. It's crazy. It's like, You gotta do the crazy thing outside of

oh, my burning man camp was like this. And, oh, my new hobby is to do this. And, oh, I'm doing this crazy health kick where I'm, like, you know, taking blood from my feet and putting it into my arms. It's crazy. It's like, You gotta do the crazy thing outside of

01:11:54

business because

business because

01:11:55

you've already, like, hit the ceiling on business craziness. Like, you know, the only one they wanna talk to about business craziness is, like, what is Elon doing or whatever? Like, the that is genuinely, like, gets the pulse going for them on the business side whereas most things don't. So that's one way because I remember sitting at many dinners and feeling completely generic where

you've already, like, hit the ceiling on business craziness. Like, you know, the only one they wanna talk to about business craziness is, like, what is Elon doing or whatever? Like, the that is genuinely, like, gets the pulse going for them on the business side whereas most things don't. So that's one way because I remember sitting at many dinners and feeling completely generic where

01:12:14

The things that I'm interested in, the things that my brain has been working on to them are, like, yeah, we know. Like, we've, yeah, we've been doing that for twenty years now. Like, that's not something to talk about. Right? It's not talking about the weather. Do you see my Twitter ad for my newsletter? Yeah. Exactly. I'm like, the I got the CPC down, and they're like, Wow. Like, I remember used to care about those things.

The things that I'm interested in, the things that my brain has been working on to them are, like, yeah, we know. Like, we've, yeah, we've been doing that for twenty years now. Like, that's not something to talk about. Right? It's not talking about the weather. Do you see my Twitter ad for my newsletter? Yeah. Exactly. I'm like, the I got the CPC down, and they're like, Wow. Like, I remember used to care about those things.

01:12:34

So so that's one way to do it. And the other is to go to a place where, like, hang out with, like, like, artists or Hollywood people, here was, like, actual artists for whom, like, the art is the goal and not the recognition from the go from the art?

So so that's one way to do it. And the other is to go to a place where, like, hang out with, like, like, artists or Hollywood people, here was, like, actual artists for whom, like, the art is the goal and not the recognition from the go from the art?

01:12:49

All they wanna do do like, you tell them what you're making, and they're like, oh, that's cool. Like, do you think that's cool?

All they wanna do do like, you tell them what you're making, and they're like, oh, that's cool. Like, do you think that's cool?

01:12:55

And you're like, no. This is fucking cringe. And they're like, so why are you doing it? And you're like, because it leads to outcomes, and then they're like,

And you're like, no. This is fucking cringe. And they're like, so why are you doing it? And you're like, because it leads to outcomes, and then they're like,

01:13:03

Oh, you know, like, you're like a it's like you value things so differently than an ex artist. If two ways, if you wanna, like,

Oh, you know, like, you're like a it's like you value things so differently than an ex artist. If two ways, if you wanna, like,

01:13:10

round yourself out is, immerse yourself though, and then the embarrassment

round yourself out is, immerse yourself though, and then the embarrassment

01:13:13

will fuel you to find something that is a non,

will fuel you to find something that is a non,

01:13:19

It's not about the Non non work hobby. Yeah. The the thing that I have found about that is, I don't actually care that much what people think. And I find that hanging out with a lot of really, really rich people, like you and I both have, I think, a bunch of mutual friends that are super rich. I'm like,

It's not about the Non non work hobby. Yeah. The the thing that I have found about that is, I don't actually care that much what people think. And I find that hanging out with a lot of really, really rich people, like you and I both have, I think, a bunch of mutual friends that are super rich. I'm like,

01:13:34

I don't care about your polyamory orgy at Bernaman. Like, good for dude. I'm so excited that you were such a nerd in high school that now we're compensating for it with lots of free sex. I think you should go wild. But, I don't think it's that fucking cool, actually. So maybe I do maybe have one hobby, which is that I,

I don't care about your polyamory orgy at Bernaman. Like, good for dude. I'm so excited that you were such a nerd in high school that now we're compensating for it with lots of free sex. I think you should go wild. But, I don't think it's that fucking cool, actually. So maybe I do maybe have one hobby, which is that I,

01:13:53

I really find,

I really find,

01:13:55

like, the political movements in the country interesting, not, like, Republican versus Democrat,

like, the political movements in the country interesting, not, like, Republican versus Democrat,

01:14:00

but maybe that's my that's my toxic trait hobby. That's your Roman empire? Yeah. Yeah. Like, I think we're part of this think tank called AI.

but maybe that's my that's my toxic trait hobby. That's your Roman empire? Yeah. Yeah. Like, I think we're part of this think tank called AI.

01:14:07

And those people fascinate me. Like, have you ever been around big thinkers that, like,

And those people fascinate me. Like, have you ever been around big thinkers that, like,

01:14:13

you know, like Arthur Brooks, you know, who that is? You guys should get him on here. I wonder if you'd like him. I none of the words you just said the last minute, even mean anything to me. You said political movements that are not democrat Republican. I'm like, what the hell is she talking about then? The second thing you said is a part of a think tank.

you know, like Arthur Brooks, you know, who that is? You guys should get him on here. I wonder if you'd like him. I none of the words you just said the last minute, even mean anything to me. You said political movements that are not democrat Republican. I'm like, what the hell is she talking about then? The second thing you said is a part of a think tank.

01:14:29

What, a what tank? And then you said AI. I'm like, that's a wrestling league, I think. And then you just mentioned Arthur Brooke who I think might own the Atlanta Falcon's, but I'm pretty sure that's not him. So could you go in reverse order? What are political parties, not the Democrats and Republicans?

What, a what tank? And then you said AI. I'm like, that's a wrestling league, I think. And then you just mentioned Arthur Brooke who I think might own the Atlanta Falcon's, but I'm pretty sure that's not him. So could you go in reverse order? What are political parties, not the Democrats and Republicans?

01:14:44

So American Enterprise Institute has this one idea, which is that,

So American Enterprise Institute has this one idea, which is that,

01:14:49

all ideas should be in a competition. There should be a competition for the best ideas and the best ideas should win. In order to determine how we rule our lives. What are our regulations?

all ideas should be in a competition. There should be a competition for the best ideas and the best ideas should win. In order to determine how we rule our lives. What are our regulations?

01:14:58

And so they're bipartisan. There's Democrats and Republicans in it. And,

And so they're bipartisan. There's Democrats and Republicans in it. And,

01:15:03

and I'm part of a a group that donates every year, and we go to a couple events for them. And so that might be a hobby of mine. I suppose. So they'll be something like UBI or something. Is that what you mean? Like, is that the, like, you know, like Like, they'll have Dick Cheney and,

and I'm part of a a group that donates every year, and we go to a couple events for them. And so that might be a hobby of mine. I suppose. So they'll be something like UBI or something. Is that what you mean? Like, is that the, like, you know, like Like, they'll have Dick Cheney and,

01:15:19

Michelle Obama on a stage together.

Michelle Obama on a stage together.

01:15:22

And they'll be like, ready go, you know, and they'll

And they'll be like, ready go, you know, and they'll

01:15:26

kinda compete their ideas.

kinda compete their ideas.

01:15:28

And and it's closed doors and you can't video it.

And and it's closed doors and you can't video it.

01:15:32

And you can't talk about the specific things that were talked about inside of there. So it allows these politicians to be perhaps

And you can't talk about the specific things that were talked about inside of there. So it allows these politicians to be perhaps

01:15:38

more, realistic than they would be on the news sites. So I I find that to be really interesting. That's kinda cool. Yeah. I think you guys would like it. And then, this guy Arthur Brooks who would be incredible.

more, realistic than they would be on the news sites. So I I find that to be really interesting. That's kinda cool. Yeah. I think you guys would like it. And then, this guy Arthur Brooks who would be incredible.

01:15:49

He used to run AA

He used to run AA

01:15:51

and was fascinated because he actually was, like, good friends with the dalai lama, which that's That's impressive. But then simultaneously,

and was fascinated because he actually was, like, good friends with the dalai lama, which that's That's impressive. But then simultaneously,

01:15:59

was able to pull together more funding. Like, I think he raised tens and tens or hundreds of millions of dollars for a and really change regulation on both the Democrat and Republican sides. And he is

was able to pull together more funding. Like, I think he raised tens and tens or hundreds of millions of dollars for a and really change regulation on both the Democrat and Republican sides. And he is

01:16:10

if you can imagine what this is like, like, you go to this event All the most of the leaders of the free world are there. You fly in to a private airport

if you can imagine what this is like, like, you go to this event All the most of the leaders of the free world are there. You fly in to a private airport

01:16:18

and,

and,

01:16:19

in sea island,

in sea island,

01:16:20

And you go to this private hotel, there's all these securities. It's like a little mini UN.

And you go to this private hotel, there's all these securities. It's like a little mini UN.

01:16:25

And the guy who runs the think tank is talking to a lot of since it's free markets, and competition of ideas. There's a lot of conservatives there. And,

And the guy who runs the think tank is talking to a lot of since it's free markets, and competition of ideas. There's a lot of conservatives there. And,

01:16:33

and he gets in front of the biggest conservative donors in the world and starts to talk to them about love. And why love is the most important thing in the world, which for conservatives is like non normalized at all. That that nobody wants to talk about that. They wanna talk about how all the Democrats are crazy. And so

and he gets in front of the biggest conservative donors in the world and starts to talk to them about love. And why love is the most important thing in the world, which for conservatives is like non normalized at all. That that nobody wants to talk about that. They wanna talk about how all the Democrats are crazy. And so

01:16:48

I really have a lot of respect for him. He has, like, a best selling book with O'Brien,

I really have a lot of respect for him. He has, like, a best selling book with O'Brien,

01:16:52

and, and a documentary out about capitalism.

and, and a documentary out about capitalism.

01:16:55

And so

And so

01:16:57

Wow. This guy, yeah, I see him posing with Oprah.

Wow. This guy, yeah, I see him posing with Oprah.

01:17:01

Okay. This is interesting.

Okay. This is interesting.

01:17:02

And so you go to these, like, private,

And so you go to these, like, private,

01:17:06

private events? How much what's the what's the absolute minimum one s to donate in order to be invited to the private thingy? I think it's twenty five or fifty k.

private events? How much what's the what's the absolute minimum one s to donate in order to be invited to the private thingy? I think it's twenty five or fifty k.

01:17:14

Okay. Alright. It would go through a screening process

Okay. Alright. It would go through a screening process

01:17:17

to to come in. I don't I don't know anything. Don't give a shit about anything. No. They probably like that.

to to come in. I don't I don't know anything. Don't give a shit about anything. No. They probably like that.

01:17:24

They did. I remember the first time I went. They're like, you do what? Where? Like, they they thought this whole internet because I've only been doing it for, like, probably

They did. I remember the first time I went. They're like, you do what? Where? Like, they they thought this whole internet because I've only been doing it for, like, probably

01:17:31

three years.

three years.

01:17:32

And so I told them that I I did little I wrote little bloggers on the internet, and they were like, well, that's

And so I told them that I I did little I wrote little bloggers on the internet, and they were like, well, that's

01:17:38

cool. It used to be my secret that I, like, don't care, don't vote, don't watch the news,

cool. It used to be my secret that I, like, don't care, don't vote, don't watch the news,

01:17:43

ever. Like, not as, like, a general thing. Like, just don't. And

ever. Like, not as, like, a general thing. Like, just don't. And

01:17:47

I used to just not say it because when I did, people would look at me like, oh, so you're just, like, is some combination of your dumb or selfish And, like, here's some combination of dumb and selfish. I don't really understand.

I used to just not say it because when I did, people would look at me like, oh, so you're just, like, is some combination of your dumb or selfish And, like, here's some combination of dumb and selfish. I don't really understand.

01:17:58

And I never really knew how to put it into words,

And I never really knew how to put it into words,

01:18:01

because I was, like, I don't know. I just focused Yeah. I'm on I focus on myself, but not in a way that's selfish. I'm not trying to take anything from anyone. I just put my attention on the things in my life. And,

because I was, like, I don't know. I just focused Yeah. I'm on I focus on myself, but not in a way that's selfish. I'm not trying to take anything from anyone. I just put my attention on the things in my life. And,

01:18:11

Then somebody said this to me, they go,

Then somebody said this to me, they go,

01:18:14

they go, yeah, you're you're an extreme in any one position, you know, just being all consuming watching the news twenty four seven or never ever caring or paying attention to the news. Neither one of those is probably very good. But, to towards your end of the spectrum, they go, you know, I think, actually, the world would be a better place. Instead of worrying about the government, learning how to govern yourself.

they go, yeah, you're you're an extreme in any one position, you know, just being all consuming watching the news twenty four seven or never ever caring or paying attention to the news. Neither one of those is probably very good. But, to towards your end of the spectrum, they go, you know, I think, actually, the world would be a better place. Instead of worrying about the government, learning how to govern yourself.

01:18:32

And, and I really took that that, like, resonated with me because I was like,

And, and I really took that that, like, resonated with me because I was like,

01:18:37

oh, that's exactly it.

oh, that's exactly it.

01:18:39

I realize I can't even fully govern myself

I realize I can't even fully govern myself

01:18:41

whether it's, you know, I shouldn't eat that and I go eat that or I should wake up early and I sleep in or

whether it's, you know, I shouldn't eat that and I go eat that or I should wake up early and I sleep in or

01:18:48

You know, I wanna text my friends and stay in touch, but I forget about them become consumed with what's going on in my life. I've yet to even govern myself. You what what am I worried about what's going on? Three thousand miles away. And with other people, I can't control at all, let alone myself who I can't. And so that was the first time I heard something that made me feel good about, that way. I previously just felt a little embarrassed, but not to the point where I was gonna change my behavior because I was like, I know intuitively this is right. I just have no words to justify it. Well, I always liked that. I think it was Jordan Peterson that said,

You know, I wanna text my friends and stay in touch, but I forget about them become consumed with what's going on in my life. I've yet to even govern myself. You what what am I worried about what's going on? Three thousand miles away. And with other people, I can't control at all, let alone myself who I can't. And so that was the first time I heard something that made me feel good about, that way. I previously just felt a little embarrassed, but not to the point where I was gonna change my behavior because I was like, I know intuitively this is right. I just have no words to justify it. Well, I always liked that. I think it was Jordan Peterson that said,

01:19:19

before you clean up the worlds, clean up your room. And I so I think there is actually true component to.

before you clean up the worlds, clean up your room. And I so I think there is actually true component to.

01:19:26

Man, if we actually all just took care of our own things, and our own things could be our family, our friends, our community, life would probably be a little bit better. So,

Man, if we actually all just took care of our own things, and our own things could be our family, our friends, our community, life would probably be a little bit better. So,

01:19:35

I support you in your purple non blue, non red nature, Sean. Yeah. Yeah. Yeah. Yeah. And somebody also said this about relationships. They go,

I support you in your purple non blue, non red nature, Sean. Yeah. Yeah. Yeah. Yeah. And somebody also said this about relationships. They go,

01:19:44

the wrong way to think about relationships is they'll take care of I mean, I'll take care of you and you take care of me, and then you're constantly feeling like you've lacked some care from the other side. Instead, it's I'll take care of me for you, and you take care of you for me.

the wrong way to think about relationships is they'll take care of I mean, I'll take care of you and you take care of me, and then you're constantly feeling like you've lacked some care from the other side. Instead, it's I'll take care of me for you, and you take care of you for me.

01:19:58

And I think that's just a much better mental model for how to be in a relationship is,

And I think that's just a much better mental model for how to be in a relationship is,

01:20:04

I will be the best I'm gonna become the best person I can be for you.

I will be the best I'm gonna become the best person I can be for you.

01:20:07

And, you do if you do the same, then we're both gonna end up in great shape. And we both are focusing on the only thing we can control, which is ourselves.

And, you do if you do the same, then we're both gonna end up in great shape. And we both are focusing on the only thing we can control, which is ourselves.

01:20:15

Yeah. Yeah. I love that. Well, also, I mean, why you gotta tell other people how to live? That's my biggest complaint. I'm like, you do you, and I'll do me. And even if you don't like it, I was still gonna do that anyway. So,

Yeah. Yeah. I love that. Well, also, I mean, why you gotta tell other people how to live? That's my biggest complaint. I'm like, you do you, and I'll do me. And even if you don't like it, I was still gonna do that anyway. So,

01:20:26

you know, thank god for freedom in that way. Okay. I wanna ask you about content. So you have built,

you know, thank god for freedom in that way. Okay. I wanna ask you about content. So you have built,

01:20:32

a big content brand across newsletters, social media, TikTok, YouTube, you're you're everywhere.

a big content brand across newsletters, social media, TikTok, YouTube, you're you're everywhere.

01:20:38

Give me the kind of can you do a rant on, like, what is your approach? Like,

Give me the kind of can you do a rant on, like, what is your approach? Like,

01:20:44

You were Cody Sanchez,

You were Cody Sanchez,

01:20:46

but at some point,

but at some point,

01:20:47

you created Cody Sanchez as the brand. And, can you explain to me

you created Cody Sanchez as the brand. And, can you explain to me

01:20:53

what went into that.

what went into that.

01:20:54

Because I think most people don't know what goes into that. I think a lot of people try to take awshook's mentality and say, I didn't really I hate that. I didn't think too much. I just it just all sort of happened organically.

Because I think most people don't know what goes into that. I think a lot of people try to take awshook's mentality and say, I didn't really I hate that. I didn't think too much. I just it just all sort of happened organically.

01:21:06

And anybody out there who would like to do the same is, like, great. So I guess I'll just hope it all just happens.

And anybody out there who would like to do the same is, like, great. So I guess I'll just hope it all just happens.

01:21:13

Whereas I I think that most people do have some thought that they put into things and a strategy maybe that they put into things. Or,

Whereas I I think that most people do have some thought that they put into things and a strategy maybe that they put into things. Or,

01:21:20

took a different approach than what they saw those were doing and it paid off. I'd love to hear your version of that. Totally. One, I hate when people do that. I have never met somebody that after you dig in a little bit, didn't systematically

took a different approach than what they saw those were doing and it paid off. I'd love to hear your version of that. Totally. One, I hate when people do that. I have never met somebody that after you dig in a little bit, didn't systematically

01:21:32

try for the thing that they have created in any aspect of life. Like, that'll fuck it by it. So that's one of my big pet peeves.

try for the thing that they have created in any aspect of life. Like, that'll fuck it by it. So that's one of my big pet peeves.

01:21:41

For me, basically, what happened is I think I'm the opposite of a lot of people that are public now. So I raised a bunch of money before for my funds and built these big fund families, right, where we invested

For me, basically, what happened is I think I'm the opposite of a lot of people that are public now. So I raised a bunch of money before for my funds and built these big fund families, right, where we invested

01:21:52

a lot, hundreds of millions, raised billions of dollars over my career, not just for me when I was with other companies.

a lot, hundreds of millions, raised billions of dollars over my career, not just for me when I was with other companies.

01:21:59

And what I kinda realized is that's a little bit like,

And what I kinda realized is that's a little bit like,

01:22:04

Giving a man to fish as opposed to teaching a man to fish.

Giving a man to fish as opposed to teaching a man to fish.

01:22:07

And I was I was with a CEO of a company that I worked for, back in the day, and I was starting to do a little of stuff online. This is, like, year, like, six or seven years ago. And I remember he took me on a walk on the beach at the monarch in,

And I was I was with a CEO of a company that I worked for, back in the day, and I was starting to do a little of stuff online. This is, like, year, like, six or seven years ago. And I remember he took me on a walk on the beach at the monarch in,

01:22:19

or the montage or the monarch in, California.

or the montage or the monarch in, California.

01:22:22

And he was like, the thing is Cody.

And he was like, the thing is Cody.

01:22:25

We get rich quietly here. Like, we don't build the I, we build the me, all those, you know, things. And at the time, I didn't really like that answer. And in in my self righteousness, I was like, well, he doesn't get it, and the internet's gonna so powerful and and steak dinners and strippers, which is how a lot of people in finance raised money doesn't work and isn't gonna work in the future, and so we should actually build a media presence. But I realized quickly, like, he had built a multibillion dollar business. It was his. I was playing with his chip, so he had every right to say,

We get rich quietly here. Like, we don't build the I, we build the me, all those, you know, things. And at the time, I didn't really like that answer. And in in my self righteousness, I was like, well, he doesn't get it, and the internet's gonna so powerful and and steak dinners and strippers, which is how a lot of people in finance raised money doesn't work and isn't gonna work in the future, and so we should actually build a media presence. But I realized quickly, like, he had built a multibillion dollar business. It was his. I was playing with his chip, so he had every right to say,

01:22:54

hey. No. Not am I done.

hey. No. Not am I done.

01:22:57

And so at that point, I kinda realized that I think what I actually like doing is I like watching other people grow and build based on the ideas I share with them. Like, my little ego likes when somebody tells me that one of the things that I did works for them. And I feel like that's, like, kind of a cool legacy.

And so at that point, I kinda realized that I think what I actually like doing is I like watching other people grow and build based on the ideas I share with them. Like, my little ego likes when somebody tells me that one of the things that I did works for them. And I feel like that's, like, kind of a cool legacy.

01:23:14

Makes me happier. And so

Makes me happier. And so

01:23:16

I started realizing that originally just by speaking with some nonprofits we worked with. I would go and speak. And I was like, oh, I kinda feel good. I feel better doing that than when I closed a big transaction,

I started realizing that originally just by speaking with some nonprofits we worked with. I would go and speak. And I was like, oh, I kinda feel good. I feel better doing that than when I closed a big transaction,

01:23:26

actually. And so I started doing that more and more. And then I was like,

actually. And so I started doing that more and more. And then I was like,

01:23:31

I think we should scale this because I just think I have that sickness in my brain that anything I do a little bit, I wanna do giant. Probably not that dissimilar with you all. You're like, I could go play a pickup game, or it could invite mister Beast and also LeBron. You're like, well, let's do option too. And so,

I think we should scale this because I just think I have that sickness in my brain that anything I do a little bit, I wanna do giant. Probably not that dissimilar with you all. You're like, I could go play a pickup game, or it could invite mister Beast and also LeBron. You're like, well, let's do option too. And so,

01:23:46

So I was like, I just started writing a newsletter for a while and didn't realize it was a business. And then the first thing I did that I would tell anybody to do if you wanna go and build a content machine

So I was like, I just started writing a newsletter for a while and didn't realize it was a business. And then the first thing I did that I would tell anybody to do if you wanna go and build a content machine

01:23:55

is you should steal people who've already built the thing. It seems so obvious, but, nobody does it. Everybody tries to do things by themselves. And because I had built a lot of businesses by now, I was like, oh, this is just a normal business. We need a head of ops. We need a head of would've called it marketing back in the day, but now we call it ahead of content. You know, we need a head of finance to figure out how much we should budget and how much we should put into all of this stuff. And then we also,

is you should steal people who've already built the thing. It seems so obvious, but, nobody does it. Everybody tries to do things by themselves. And because I had built a lot of businesses by now, I was like, oh, this is just a normal business. We need a head of ops. We need a head of would've called it marketing back in the day, but now we call it ahead of content. You know, we need a head of finance to figure out how much we should budget and how much we should put into all of this stuff. And then we also,

01:24:22

probably need a bunch of chiefs on or a bunch of Indians underneath the Chiefs. And so I basically hired those first three things. I always hire first at the top, and then I do a sliding scale down.

probably need a bunch of chiefs on or a bunch of Indians underneath the Chiefs. And so I basically hired those first three things. I always hire first at the top, and then I do a sliding scale down.

01:24:34

And after I had hired those three people because I was funding it all myself from what I had built before, then I started to go sectors or niche specific. So, like, hire one person for TikTok, hire one person for Twitter, hire one person for Instagram, and it doesn't mean that they would write it all in their ghost writing. I would just say, I'm stressed about these three platforms. I'm gonna remove my stress from me into you. And so you shall now stress all day about TikTok and Twitter and Instagram. And a newsletter, and I will not. I'm gonna stress on this portfolio of businesses, which nobody else need to run. And so that's how I started.

And after I had hired those three people because I was funding it all myself from what I had built before, then I started to go sectors or niche specific. So, like, hire one person for TikTok, hire one person for Twitter, hire one person for Instagram, and it doesn't mean that they would write it all in their ghost writing. I would just say, I'm stressed about these three platforms. I'm gonna remove my stress from me into you. And so you shall now stress all day about TikTok and Twitter and Instagram. And a newsletter, and I will not. I'm gonna stress on this portfolio of businesses, which nobody else need to run. And so that's how I started.

01:25:08

And do you

And do you

01:25:11

Do you do one for the other? Do they feed each other? Or what's the what's the plan with the content? Like, how does the content fit with the portfolio of businesses? What's the What why do you do both? Why not just do one?

Do you do one for the other? Do they feed each other? Or what's the what's the plan with the content? Like, how does the content fit with the portfolio of businesses? What's the What why do you do both? Why not just do one?

01:25:22

Yeah. Oh, it's the bet. I mean, I think maybe you've talked about this, but the flywheel of content the most powerful thing I've ever seen. I mean, Naval talked about it with his he I think he talked about three levels of leverage,

Yeah. Oh, it's the bet. I mean, I think maybe you've talked about this, but the flywheel of content the most powerful thing I've ever seen. I mean, Naval talked about it with his he I think he talked about three levels of leverage,

01:25:34

which was you know, capital or I'm sorry, people, capital, and then code. And then I think the current one is audience,

which was you know, capital or I'm sorry, people, capital, and then code. And then I think the current one is audience,

01:25:42

and audience is the only permission list. Version. All those other ones, you have to have banks. You had to have employees say yes. You had to actually understand code. But audience is is so your favorite word,

and audience is the only permission list. Version. All those other ones, you have to have banks. You had to have employees say yes. You had to actually understand code. But audience is is so your favorite word,

01:25:53

democratize.

democratize.

01:25:55

Anybody can,

Anybody can,

01:25:57

anybody can't swear jar before you leave.

anybody can't swear jar before you leave.

01:25:59

Yeah. Exactly.

Yeah. Exactly.

01:26:00

Anybody can can do it. And so I was like, well, this is fascinating.

Anybody can can do it. And so I was like, well, this is fascinating.

01:26:06

If I could get, like, for instance, yesterday, in one of our YouTube videos, we put a a lead magnet to the newsletter. And we got, like, twenty five hundred newsletter sign ups.

If I could get, like, for instance, yesterday, in one of our YouTube videos, we put a a lead magnet to the newsletter. And we got, like, twenty five hundred newsletter sign ups.

01:26:16

And let's say that a newsletter sign up on average costs us one to two bucks. Well, that was, you know, that's five thousand dollars I could have done through PPC or through organic. I could just get it from audience. Content. Yeah. Yeah. And so,

And let's say that a newsletter sign up on average costs us one to two bucks. Well, that was, you know, that's five thousand dollars I could have done through PPC or through organic. I could just get it from audience. Content. Yeah. Yeah. And so,

01:26:30

they all influence one another. But how I originally thought about it is I'm gonna talk about content. About buying businesses. Because I talk about buying businesses, what's gonna happen? A bunch of people are gonna wanna sell me their business. So now I'm gonna buy more businesses that they wanna sell. And I'm gonna buy them at better prices and faster than anybody else because they feel like they already know me and they trust me. Right. And so I'm almost indexing on trust. I'm gonna tell them exactly how I value it. I'm gonna tell them exactly how I buy, and then they're gonna sell me their business. And then once they sell me their business, I'm going to build that business through my audience. So I'm gonna funnel more of the audience into said business. And then finally, when I go to exit the business, I'm gonna have a community of buyers that wanna buy this business, and then I'm gonna do it again and again and again. And

they all influence one another. But how I originally thought about it is I'm gonna talk about content. About buying businesses. Because I talk about buying businesses, what's gonna happen? A bunch of people are gonna wanna sell me their business. So now I'm gonna buy more businesses that they wanna sell. And I'm gonna buy them at better prices and faster than anybody else because they feel like they already know me and they trust me. Right. And so I'm almost indexing on trust. I'm gonna tell them exactly how I value it. I'm gonna tell them exactly how I buy, and then they're gonna sell me their business. And then once they sell me their business, I'm going to build that business through my audience. So I'm gonna funnel more of the audience into said business. And then finally, when I go to exit the business, I'm gonna have a community of buyers that wanna buy this business, and then I'm gonna do it again and again and again. And

01:27:11

It sort of ended up working out like that. I would say most often now, it's that I get referrals to businesses that I wanna buy. I I it's not so much cold outreach.

It sort of ended up working out like that. I would say most often now, it's that I get referrals to businesses that I wanna buy. I I it's not so much cold outreach.

01:27:22

So maybe it was slightly off from what I thought the thesis was gonna be. Right. Right. And okay. So I wanna give you a chance to address what I view as

So maybe it was slightly off from what I thought the thesis was gonna be. Right. Right. And okay. So I wanna give you a chance to address what I view as

01:27:30

good criticism. So what's good criticism? Good criticism is,

good criticism. So what's good criticism? Good criticism is,

01:27:34

so bad criticism is this person's full of shit. Good criticism is

so bad criticism is this person's full of shit. Good criticism is

01:27:39

It's

It's

01:27:41

it's not all perfect.

it's not all perfect.

01:27:43

Right? It's like the that's like a good version of criticism. Meaning, you're in a good position if somebody says that. So for example, I wanna give you a chance to, do to answer this in two ways. The first is

Right? It's like the that's like a good version of criticism. Meaning, you're in a good position if somebody says that. So for example, I wanna give you a chance to, do to answer this in two ways. The first is

01:27:53

Every criticism I believe has a kernel of truth. When I go read the YouTube comments and somebody says,

Every criticism I believe has a kernel of truth. When I go read the YouTube comments and somebody says,

01:27:59

blah, blah, blah, about me,

blah, blah, blah, about me,

01:28:01

It might be mean it might have been rude, might have been uncalled for,

It might be mean it might have been rude, might have been uncalled for,

01:28:05

but it's usually not completely baseless. There's some kernel of truth in it, and the same thing on the good side. So it'll be compliments being usually not as good as they say, but there's a kernel of truth and that's what led to that that sentiment.

but it's usually not completely baseless. There's some kernel of truth in it, and the same thing on the good side. So it'll be compliments being usually not as good as they say, but there's a kernel of truth and that's what led to that that sentiment.

01:28:15

So

So

01:28:16

here's some of the the p things that people would say about you.

here's some of the the p things that people would say about you.

01:28:20

Cody Sanchez,

Cody Sanchez,

01:28:22

her real business is in creating content, getting you to pay her to teach you how to buy a business, not in the businesses that she's bought herself.

her real business is in creating content, getting you to pay her to teach you how to buy a business, not in the businesses that she's bought herself.

01:28:31

In what way would that be true and in what way would that be false?

In what way would that be true and in what way would that be false?

01:28:35

Yeah.

Yeah.

01:28:37

I think

I think

01:28:39

One, I I think you're right. One of our mottos is question everything. So I don't think there's anything wrong with with questioning any of that.

One, I I think you're right. One of our mottos is question everything. So I don't think there's anything wrong with with questioning any of that.

01:28:46

We'd make more money categorically

We'd make more money categorically

01:28:48

from the businesses we own than from the community that we own, for instance.

from the businesses we own than from the community that we own, for instance.

01:28:54

So, like,

So, like,

01:28:55

numerically,

numerically,

01:28:56

categorically, that's just the fact. Now would I be upset

categorically, that's just the fact. Now would I be upset

01:29:00

if all of a sudden we're doing twenty five, fifty, a hundred million dollars in a community and and this my idea of an M and A for m b like an MBA M and A if I could actually create that and I could supplant

if all of a sudden we're doing twenty five, fifty, a hundred million dollars in a community and and this my idea of an M and A for m b like an MBA M and A if I could actually create that and I could supplant

01:29:14

what we're getting in institutions

what we're getting in institutions

01:29:16

and education systems to be fucking thrilled. Right. So the second that I make way more money with communities and courses, I will be shouting it at our yes. Like, we built the best fucking thing ever. We're doing tens and tens of millions of dollars,

and education systems to be fucking thrilled. Right. So the second that I make way more money with communities and courses, I will be shouting it at our yes. Like, we built the best fucking thing ever. We're doing tens and tens of millions of dollars,

01:29:29

and you're welcome. Like, happy.

and you're welcome. Like, happy.

01:29:32

The

The

01:29:33

second like, what would be true about that is,

second like, what would be true about that is,

01:29:36

yeah, we're really good at this. Like, it is a big business. It does millions of dollars a year.

yeah, we're really good at this. Like, it is a big business. It does millions of dollars a year.

01:29:41

I think we have really quickly supplanted anybody in the industry.

I think we have really quickly supplanted anybody in the industry.

01:29:45

Like, we are the name. If you wanna go learn how to buy a business, Soon, we will be the name if you wanna learn how to sell a business. And my goal is we will also be in the name if you want to learn how to build a business. So we will own the entire ecosystem.

Like, we are the name. If you wanna go learn how to buy a business, Soon, we will be the name if you wanna learn how to sell a business. And my goal is we will also be in the name if you want to learn how to build a business. So we will own the entire ecosystem.

01:29:59

I'm in talks right now with University of Texas and University of Austin, which is Joe Lonsdale's,

I'm in talks right now with University of Texas and University of Austin, which is Joe Lonsdale's,

01:30:05

company to do a program with them where we can push back on what I think is awful education that's taught at most institutions.

company to do a program with them where we can push back on what I think is awful education that's taught at most institutions.

01:30:13

Right. And instead of telling you what to think and a bunch of political nonsense, we're just gonna teach you really smart

Right. And instead of telling you what to think and a bunch of political nonsense, we're just gonna teach you really smart

01:30:22

financial tactics that you can apply whichever way you want. And so,

financial tactics that you can apply whichever way you want. And so,

01:30:27

it does, like I'm sure it's the same with you. What bothers me when people talk about me online?

it does, like I'm sure it's the same with you. What bothers me when people talk about me online?

01:30:32

Is if I feel like there is a kernel of truth or we fuck up, like one time we did this tweet thread?

Is if I feel like there is a kernel of truth or we fuck up, like one time we did this tweet thread?

01:30:39

And it was a seven instead of a two for the number of years that I was at Goldman, which is, like, you can see it on my, form u four and my

And it was a seven instead of a two for the number of years that I was at Goldman, which is, like, you can see it on my, form u four and my

01:30:47

LinkedIn. You could see how long it was at Goldman. And I had all these people be like, I knew you were just a fucking secretary, and you were only there for, you know, two years at seven. And that one actually bothered me a little bit because I was like, we were wrong. And so fuck. That's that's the right. That's a typo who cares.

LinkedIn. You could see how long it was at Goldman. And I had all these people be like, I knew you were just a fucking secretary, and you were only there for, you know, two years at seven. And that one actually bothered me a little bit because I was like, we were wrong. And so fuck. That's that's the right. That's a typo who cares.

01:31:04

You know, like, you're wrong, but, like, don't beat yourself up over that. Right? Like, that's nothing.

You know, like, you're wrong, but, like, don't beat yourself up over that. Right? Like, that's nothing.

01:31:08

Yeah. It was true. Another way to think about it or another, like, I guess thing to to react to. So we get less criticism. I was I was wondering this. I was like, why do we get less criticism? So I was worried. I was like, are we just less popular or less good than these other people. And what I realized is actually now there's one difference, which is when you do a podcast,

Yeah. It was true. Another way to think about it or another, like, I guess thing to to react to. So we get less criticism. I was I was wondering this. I was like, why do we get less criticism? So I was worried. I was like, are we just less popular or less good than these other people. And what I realized is actually now there's one difference, which is when you do a podcast,

01:31:28

podcast because they're long form, it sort of naturally filters a bunch of people out. Second, it gives you a chance to breathe and be yourself and people tend to. Once they get to know you and understand you, they tend to not, not feel the same way about you. Not not have, like, that sort of reactionary

podcast because they're long form, it sort of naturally filters a bunch of people out. Second, it gives you a chance to breathe and be yourself and people tend to. Once they get to know you and understand you, they tend to not, not feel the same way about you. Not not have, like, that sort of reactionary

01:31:42

takeaway against you. The third is that you're just not everywhere. And the vibe is I'm talking to my buddy, Sam, You're here listening as a fly on the wall versus you go on Instagram or TikTok and you're staring down the barrel looking at the camera saying, you should do this all of a sudden, your business group. All of a sudden, you're telling me what to do. All of a sudden, guard the walls go up. And literally just because of the way your Which way we're pointing? When it's me talking to my co host is very different than somebody who's picks up their phone and says,

takeaway against you. The third is that you're just not everywhere. And the vibe is I'm talking to my buddy, Sam, You're here listening as a fly on the wall versus you go on Instagram or TikTok and you're staring down the barrel looking at the camera saying, you should do this all of a sudden, your business group. All of a sudden, you're telling me what to do. All of a sudden, guard the walls go up. And literally just because of the way your Which way we're pointing? When it's me talking to my co host is very different than somebody who's picks up their phone and says,

01:32:10

you know, I'm so great. And here's what I do, and you should do the same. So that's what I realized is actually the way that the reaction gets really big.

you know, I'm so great. And here's what I do, and you should do the same. So that's what I realized is actually the way that the reaction gets really big.

01:32:17

Now I wonder how you think about, like, distancing yourself or do you just not care about like, the whole, like, business guru, kinda like

Now I wonder how you think about, like, distancing yourself or do you just not care about like, the whole, like, business guru, kinda like

01:32:26

Grant Cardone, Ty Lopez. Like, there's, like, this whole thing that I personally don't wanna necessarily be associated with. I don't necessarily think that they're bad. And, anyway, I just don't wanna be bucketed in with that group.

Grant Cardone, Ty Lopez. Like, there's, like, this whole thing that I personally don't wanna necessarily be associated with. I don't necessarily think that they're bad. And, anyway, I just don't wanna be bucketed in with that group.

01:32:37

And I can see how there's like a tension between the more you come out and talk about business and how to make it, the more you can be bucketed as business grew.

And I can see how there's like a tension between the more you come out and talk about business and how to make it, the more you can be bucketed as business grew.

01:32:46

How do you think about that? Do you do you think you do fall into that trap, or how do you avoid that? Yeah.

How do you think about that? Do you do you think you do fall into that trap, or how do you avoid that? Yeah.

01:32:53

One, I think,

One, I think,

01:32:55

as I think I'm a big ethical moral compass type person. So, like, if I feel like I'm doing something wrong,

as I think I'm a big ethical moral compass type person. So, like, if I feel like I'm doing something wrong,

01:33:03

That's gonna bother me a lot more than what other people think about me. And so that that doesn't bother me too much. I also think and I would be curious your take. Like, I wanna do a math model on this.

That's gonna bother me a lot more than what other people think about me. And so that that doesn't bother me too much. I also think and I would be curious your take. Like, I wanna do a math model on this.

01:33:13

I so much of what we are told in today's society, in my opinion, is

I so much of what we are told in today's society, in my opinion, is

01:33:18

the opposite. It's like, it's cloud world. It's We're told this one thing, and it actually makes no sense for instance.

the opposite. It's like, it's cloud world. It's We're told this one thing, and it actually makes no sense for instance.

01:33:24

If I went out right now, I've never ever raised money for any of the businesses that I invest in from my audience. Ever, not once. Not once have I asked for a dollar for that. Now we have a venture cup fund that's tiny that I say do not invest in if you don't wanna lose money because this is like,

If I went out right now, I've never ever raised money for any of the businesses that I invest in from my audience. Ever, not once. Not once have I asked for a dollar for that. Now we have a venture cup fund that's tiny that I say do not invest in if you don't wanna lose money because this is like,

01:33:40

a very small, it's a ten million dollar fund. And it's, like, who knows? No adventure works.

a very small, it's a ten million dollar fund. And it's, like, who knows? No adventure works.

01:33:46

And

And

01:33:47

I think that there's a legitimacy

I think that there's a legitimacy

01:33:49

that comes with

that comes with

01:33:51

asking people for money to invest in your funds as opposed to teaching them how to do the thing. Which in my mind actually makes no sense because if I went and raised another billion dollar fund family, like I did, I'm going to make so much more money than I ever will teaching people how to do things online. So much more money. But then they don't actually learn. So I think I have, like, a I have, like, a chip on my shoulder about it that I wanna push back on it. And I also think Man, young Cody would have really liked to learn this earlier,

asking people for money to invest in your funds as opposed to teaching them how to do the thing. Which in my mind actually makes no sense because if I went and raised another billion dollar fund family, like I did, I'm going to make so much more money than I ever will teaching people how to do things online. So much more money. But then they don't actually learn. So I think I have, like, a I have, like, a chip on my shoulder about it that I wanna push back on it. And I also think Man, young Cody would have really liked to learn this earlier,

01:34:22

and wouldn't it be nice if somebody would have actually showed me their homework back in the day? Like, I would've liked that, actually.

and wouldn't it be nice if somebody would have actually showed me their homework back in the day? Like, I would've liked that, actually.

01:34:30

So I think I think that's how I I remedied it. Now I hate comparisons to Grant Cartone or Ty Lopez because

So I think I think that's how I I remedied it. Now I hate comparisons to Grant Cartone or Ty Lopez because

01:34:38

I'm not talking about those two because I don't know them individually.

I'm not talking about those two because I don't know them individually.

01:34:42

But, you know, I looked at some of the fundraising docs on Grant Cardown's stuff, and I don't think it's that great for retail investors. I think it's pretty one-sided.

But, you know, I looked at some of the fundraising docs on Grant Cardown's stuff, and I don't think it's that great for retail investors. I think it's pretty one-sided.

01:34:50

And I think Tyler has this very, like, ferraris, women,

And I think Tyler has this very, like, ferraris, women,

01:34:53

you know, get rich quick stuff. And ours is sort of the opposite. It's like, this is gonna be hard. It'll take longer than you think. It'll be harder than you think. And maybe it'll be worth it if you actually keep going past the point in which it's comfortable. But,

you know, get rich quick stuff. And ours is sort of the opposite. It's like, this is gonna be hard. It'll take longer than you think. It'll be harder than you think. And maybe it'll be worth it if you actually keep going past the point in which it's comfortable. But,

01:35:09

yeah, I think at some point, you just have to give up what people think about you on the internet one way or the other because there's always gonna be, you know, if you think about it also, Sean, like, so if we have a hundred million views a month or five million followers.

yeah, I think at some point, you just have to give up what people think about you on the internet one way or the other because there's always gonna be, you know, if you think about it also, Sean, like, so if we have a hundred million views a month or five million followers.

01:35:21

Like, one percent's gonna be fucking nuts.

Like, one percent's gonna be fucking nuts.

01:35:24

For sure, just, like, categorically.

For sure, just, like, categorically.

01:35:26

And so anytime

And so anytime

01:35:28

something happens, I go, well, that's the one percent. Unless we're doing something wrong, and then I go, well, we we did that was a typo. That's our bad. Right. Well, I'm hoping that people who listen to this,

something happens, I go, well, that's the one percent. Unless we're doing something wrong, and then I go, well, we we did that was a typo. That's our bad. Right. Well, I'm hoping that people who listen to this,

01:35:38

you know, I I guess, like, I believe that, like you just said,

you know, I I guess, like, I believe that, like you just said,

01:35:43

you the, you know, the most important opinion is the one you have of yourself. You know, the reputation with yourself is the one that matters.

you the, you know, the most important opinion is the one you have of yourself. You know, the reputation with yourself is the one that matters.

01:35:48

I also believe that people should come to their own opinions once they have the opportunity to hear you speak. That's why I asked some of these questions to you because I wanted to I wanted to know that I wanted to hear how you would answer them myself, but I also know for most people, they're not really gonna get to hear you talk on this,

I also believe that people should come to their own opinions once they have the opportunity to hear you speak. That's why I asked some of these questions to you because I wanted to I wanted to know that I wanted to hear how you would answer them myself, but I also know for most people, they're not really gonna get to hear you talk on this,

01:36:03

really anywhere. So, as far as as far as I've seen. So I hope that people, you know, to whatever opinions they want on on that stuff. That's that's on them at that point. I think that the ideas you shared at the beginning and the model that you've created here around buying boring businesses is

really anywhere. So, as far as as far as I've seen. So I hope that people, you know, to whatever opinions they want on on that stuff. That's that's on them at that point. I think that the ideas you shared at the beginning and the model that you've created here around buying boring businesses is

01:36:20

fascinating to me.

fascinating to me.

01:36:23

I I'm almost jealous that I don't wanna buy a boring business. I'm like, oh, well, the, you know, like,

I I'm almost jealous that I don't wanna buy a boring business. I'm like, oh, well, the, you know, like,

01:36:29

what what's wrong with the chip in my brain that wants to buy exciting businesses.

what what's wrong with the chip in my brain that wants to buy exciting businesses.

01:36:33

Like, I only want to buy exciting businesses, and I think that is probably harder, higher degree of difficulty.

Like, I only want to buy exciting businesses, and I think that is probably harder, higher degree of difficulty.

01:36:39

But, you know, you you you choose you get to choose the game you play. That's that's that's the game I wanna play.

But, you know, you you you choose you get to choose the game you play. That's that's that's the game I wanna play.

01:36:45

Or you just invest in you invest in Xavier's thing, which we both did too, you know. Yeah. We support small businesses that way. I mean, and the only other thing I wanna say is, like, I think it's really cool what you guys are doing here because although you might not call your businesses boring, you are actually

Or you just invest in you invest in Xavier's thing, which we both did too, you know. Yeah. We support small businesses that way. I mean, and the only other thing I wanna say is, like, I think it's really cool what you guys are doing here because although you might not call your businesses boring, you are actually

01:37:00

doing the thing that most people in industry hate. Which is you're taking complex ideas and you're skinning them down so a lot of people can execute on them. And, like, there not a lot of people want us to share their homework like that. So while mine might be boring and yours might be more sexy, I think we're both doing something really similar, which is here's a word for me. Here's some relatively complex stuff. Here's how I think we could really simplify it. And then, like, you go do you and go build something because I think that's the only thing that makes the world a little bit better are the builders. My I invest in the same company. You did Shop Genie, which is, like, the perfect example of a boring business that can be pretty big. And so these guys make, like, If you go to an auto repair shop,

doing the thing that most people in industry hate. Which is you're taking complex ideas and you're skinning them down so a lot of people can execute on them. And, like, there not a lot of people want us to share their homework like that. So while mine might be boring and yours might be more sexy, I think we're both doing something really similar, which is here's a word for me. Here's some relatively complex stuff. Here's how I think we could really simplify it. And then, like, you go do you and go build something because I think that's the only thing that makes the world a little bit better are the builders. My I invest in the same company. You did Shop Genie, which is, like, the perfect example of a boring business that can be pretty big. And so these guys make, like, If you go to an auto repair shop,

01:37:38

if I if you need to go get your car repaired today, you basically have to drive in. It's only like walk in essentially. You drive in or you call and nobody picks up the phone, you drive up, and then they're like, it's gonna be a couple hours. You can just, like, leave it here and, like, go home on foot, and you're like, oh, shit. Like, damn, I wish this was, like, I wish this worked, like, everything else in the world worked. Meaning, I wasn't gonna go online and book an appointment and show up and drop off my car and be done and pay you online. Not like, you know, not like, you know, in cash here, whatever. And so they made this, like, basically, like, a booking software for auto repair shops. Is that a good way to explain it? That's how I think about it, at least.

if I if you need to go get your car repaired today, you basically have to drive in. It's only like walk in essentially. You drive in or you call and nobody picks up the phone, you drive up, and then they're like, it's gonna be a couple hours. You can just, like, leave it here and, like, go home on foot, and you're like, oh, shit. Like, damn, I wish this was, like, I wish this worked, like, everything else in the world worked. Meaning, I wasn't gonna go online and book an appointment and show up and drop off my car and be done and pay you online. Not like, you know, not like, you know, in cash here, whatever. And so they made this, like, basically, like, a booking software for auto repair shops. Is that a good way to explain it? That's how I think about it, at least.

01:38:12

Yeah. Well, and now that you're talking about it, I'm sure this will happen for them again. But what's cool about when we get to invest in these types of businesses, We did a little tweet for them and a little announcement of investing in them. And they got, like, thirty franchise users who have multiple franchises underneath

Yeah. Well, and now that you're talking about it, I'm sure this will happen for them again. But what's cool about when we get to invest in these types of businesses, We did a little tweet for them and a little announcement of investing in them. And they got, like, thirty franchise users who have multiple franchises underneath

01:38:27

them. Right. And so the ability to help somebody scale with a podcast like yours is really cool, which makes sense because you did support Shepard. And I think that's, like, a similar similar model. Yeah. It's like hearing the founder of it. He told about this business. I was like, that's a great idea.

them. Right. And so the ability to help somebody scale with a podcast like yours is really cool, which makes sense because you did support Shepard. And I think that's, like, a similar similar model. Yeah. It's like hearing the founder of it. He told about this business. I was like, that's a great idea.

01:38:41

I would net like, I don't wanna do that. That sounds boring to me. But it's not boring to you, and that's all that matters. And investing is the easiest way for me to, like, ride along that ride. And the funny thing is he told me, like, back to the content idea, he's like, oh, we have this guy

I would net like, I don't wanna do that. That sounds boring to me. But it's not boring to you, and that's all that matters. And investing is the easiest way for me to, like, ride along that ride. And the funny thing is he told me, like, back to the content idea, he's like, oh, we have this guy

01:38:55

I never heard of this guy Aaron Stokes. Do you know who this is?

I never heard of this guy Aaron Stokes. Do you know who this is?

01:38:58

Yeah. He's he's like, you know, the the whoever, you know, the the Gary v of the auto repair world. And so this one guy I'm pretty sure this guy is making, like, thirty million dollars a year. Just creating content for people that own auto repair businesses.

Yeah. He's he's like, you know, the the whoever, you know, the the Gary v of the auto repair world. And so this one guy I'm pretty sure this guy is making, like, thirty million dollars a year. Just creating content for people that own auto repair businesses.

01:39:16

And he's, like, he has just conquered this niche.

And he's, like, he has just conquered this niche.

01:39:20

And, he's the he's doing the content marketing stuff, but only for a really, really narrow thing. But then for them, he's probably the only talented content person that's creating anything for them. And so when he hosts the event or he has the the paid group or whatever. I don't even know this guy's full business model, but I know that his revenue is up there sort of like twenty million plus.

And, he's the he's doing the content marketing stuff, but only for a really, really narrow thing. But then for them, he's probably the only talented content person that's creating anything for them. And so when he hosts the event or he has the the paid group or whatever. I don't even know this guy's full business model, but I know that his revenue is up there sort of like twenty million plus.

01:39:39

And he can get a thousand, you know, auto repair shop owners to show up to a to any event that he, you know, a conference that he throws.

And he can get a thousand, you know, auto repair shop owners to show up to a to any event that he, you know, a conference that he throws.

01:39:46

And I was like, wow, this content game can be, like,

And I was like, wow, this content game can be, like,

01:39:49

niche down into the into the even though the boring vertical is in a very interesting way.

niche down into the into the even though the boring vertical is in a very interesting way.

01:39:55

Yeah. We should own more of those. I mean, like, I think a fun game like, a great content channel that I was talking to Chris my husband about was like, oh, what did he call it? He called it, like, cringe con, and it would just be like you going to different niche industry conferences and wanting their keynotes,

Yeah. We should own more of those. I mean, like, I think a fun game like, a great content channel that I was talking to Chris my husband about was like, oh, what did he call it? He called it, like, cringe con, and it would just be like you going to different niche industry conferences and wanting their keynotes,

01:40:10

like, the keynote from the self storage industry conference. And, like, the keynote from, you know, just one of our our friends,

like, the keynote from the self storage industry conference. And, like, the keynote from, you know, just one of our our friends,

01:40:18

owns a small self storage company that we're gonna invest in.

owns a small self storage company that we're gonna invest in.

01:40:22

And,

And,

01:40:23

he was like, yeah, I went to a self storage.

he was like, yeah, I went to a self storage.

01:40:27

Conference, and the keynote speaker was like, they use words like hoarders. We use words like customers,

Conference, and the keynote speaker was like, they use words like hoarders. We use words like customers,

01:40:33

you know, and you're like, I just wanna see this. So there's so many ways there's a giant compilation

you know, and you're like, I just wanna see this. So there's so many ways there's a giant compilation

01:40:40

of every, like, niche conference. Oh, it would be hilarious. Yeah. Know I'm going to speak at Balaji's conference next week about,

of every, like, niche conference. Oh, it would be hilarious. Yeah. Know I'm going to speak at Balaji's conference next week about,

01:40:47

like, they use all these words shaw that you probably know because you're smarter than me. Like, a c c slash e e in parentheses on your Twitter bio? Yeah. I don't know what the hell that is. I've seen that everywhere. Yeah. That's what I told them. I'm like, I need a I need a dictionary to speak here.

like, they use all these words shaw that you probably know because you're smarter than me. Like, a c c slash e e in parentheses on your Twitter bio? Yeah. I don't know what the hell that is. I've seen that everywhere. Yeah. That's what I told them. I'm like, I need a I need a dictionary to speak here.

01:41:00

And,

And,

01:41:01

and what I thought was fascinating is I'm like, you have this whole world

and what I thought was fascinating is I'm like, you have this whole world

01:41:05

that nobody else knows about.

that nobody else knows about.

01:41:07

And, you know, you guys have all made billions or hundreds of millions off of it. So so many ways to make money, and that to me would actually be boring. Like, I don't, you know, acronyms. I don't need all of those. Yeah. I've told the story before, but we got the idea for milk road,

And, you know, you guys have all made billions or hundreds of millions off of it. So so many ways to make money, and that to me would actually be boring. Like, I don't, you know, acronyms. I don't need all of those. Yeah. I've told the story before, but we got the idea for milk road,

01:41:20

to learn the not the idea, but the, like, trigger to launch milk road was at, Farmcon. We went to a farming conference in Kansas City and, like, same thing. You know, we get we go in and the the panel was talking about you know, corn and wheat futures.

to learn the not the idea, but the, like, trigger to launch milk road was at, Farmcon. We went to a farming conference in Kansas City and, like, same thing. You know, we get we go in and the the panel was talking about you know, corn and wheat futures.

01:41:35

And I'm like, if I was stunned, I was like, these guys know what futures are. And secondly, like, we're talking about corn futures. And then one guy was like, I'm only on beans. And I was like, yay, man, brother. I'm only on beans too. But I think for different reasons,

And I'm like, if I was stunned, I was like, these guys know what futures are. And secondly, like, we're talking about corn futures. And then one guy was like, I'm only on beans. And I was like, yay, man, brother. I'm only on beans too. But I think for different reasons,

01:41:48

and so, like, It was such a wild experience that I just really had no, like,

and so, like, It was such a wild experience that I just really had no, like,

01:41:53

it was a totally different world. Like, you know, literally, like, two thousand farmers in a room.

it was a totally different world. Like, you know, literally, like, two thousand farmers in a room.

01:41:57

Just talking farming.

Just talking farming.

01:41:59

And,

And,

01:42:00

you know, I think it's really good to get outside your bubble and kinda like, you know, for a guy from who lives in San Francisco,

you know, I think it's really good to get outside your bubble and kinda like, you know, for a guy from who lives in San Francisco,

01:42:05

talks to tech dorks all day. Like, that was a totally different experience. I should do more of that, but, like, that was my one kinda, like, by one trip last year. So I gotta go to Bernie Man. I went to Farmcon, that, which I think is a actually more extreme experience,

talks to tech dorks all day. Like, that was a totally different experience. I should do more of that, but, like, that was my one kinda, like, by one trip last year. So I gotta go to Bernie Man. I went to Farmcon, that, which I think is a actually more extreme experience,

01:42:18

all things considered That's gonna be me next week. I already told biology. I'm like, I'm pretty sure I'm gonna understand half of this. He had this idea too that I was like, I think, actually, this is a terrible idea.

all things considered That's gonna be me next week. I already told biology. I'm like, I'm pretty sure I'm gonna understand half of this. He had this idea too that I was like, I think, actually, this is a terrible idea.

01:42:29

At categorically.

At categorically.

01:42:30

He's, like, wanted to do five minute speeches, like, five minute little speeches. And I'm, like, one, that's hard. Like, oh, you know, okay.

He's, like, wanted to do five minute speeches, like, five minute little speeches. And I'm, like, one, that's hard. Like, oh, you know, okay.

01:42:37

We can do that. And he's like, so I wanna do a bunch of them. And I was thinking in order for some of them to be really fast, what we'll do is we'll we can prerecord some of it. So it's really good. And then we'll walk up on the stage and we could press play. I was like Like a DJ.

We can do that. And he's like, so I wanna do a bunch of them. And I was thinking in order for some of them to be really fast, what we'll do is we'll we can prerecord some of it. So it's really good. And then we'll walk up on the stage and we could press play. I was like Like a DJ.

01:42:52

I was like, Balaji, you are the smartest man I've ever met. And also no. He's like, and then instead of coming to the conference, everyone just stays home. And, actually, they just listen to it on their own in the podcast app. It's a podcast, actually.

I was like, Balaji, you are the smartest man I've ever met. And also no. He's like, and then instead of coming to the conference, everyone just stays home. And, actually, they just listen to it on their own in the podcast app. It's a podcast, actually.

01:43:06

This is yeah. I mean, thank god humans think differently, but I'm I'm really curious to imagine if I could carry a conversation well with a lot of people here. Just gonna tell them the thing is if you wanna know about laundromat's I'm your girl. That's about it. And they're like, we don't. We don't. She's

This is yeah. I mean, thank god humans think differently, but I'm I'm really curious to imagine if I could carry a conversation well with a lot of people here. Just gonna tell them the thing is if you wanna know about laundromat's I'm your girl. That's about it. And they're like, we don't. We don't. She's

01:43:22

That's that. Next

That's that. Next

01:43:25

Alright. Cody, this has been great. Sorry. I took you so far over time, but Not at all. This is a blast. Thank you for guest hosting.

Alright. Cody, this has been great. Sorry. I took you so far over time, but Not at all. This is a blast. Thank you for guest hosting.

01:43:31

While Sam is out and, that's the pod. Where oh, where should people follow you? Where do you where do you want where do you wanna send them? Cody Sanchez on all the socials,

While Sam is out and, that's the pod. Where oh, where should people follow you? Where do you where do you want where do you wanna send them? Cody Sanchez on all the socials,

01:43:39

pretty straightforward.

pretty straightforward.

01:43:41

Alright. That's it.

Alright. That's it.

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