00:00
But I would also say there's been a big lesson I've learned that is anytime people live anytime you discover a group of people, who are very interested in and living a lifestyle that is different than yours is very easily initially to write it off and just say, oh, that's frivolous, that's
00:15
That's just kinda like whatever, you know, they're out of touch or,
00:19
they're weird or whatever. Like, it doesn't really matter what what category it is. Like, when I when I saw gamers and people who stream video games and watch other people playing video games, it was so strange to me. I remember making fun of this kid in college because I walked in on him and he was watching somebody else play a video game on a live stream and the guy was playing in Korea. And I was like, you're watching a dude in Korea play this video game. Why don't you just play? But, yeah, why don't you get outside? And, like, let's go go get some food. And I made fun of them for it. And then years later, I'm, like, selling my company to Twitch and, like, I'm, I'm, like, talking about how great this trend is, and he's, like, called me. He's like, you mother you know, like, I dude, you made fun of me for this ten years ago, and here you are now, like, now you're on board. And I that's happened to me so many times in life that now I go the exact opposite way. I see some somebody like you
01:08
who says, the same thing that our other buddy said, which is maybe I should go to the Mayo Clinic and get these advanced scans done once a year. I think,
01:15
maybe that's something more people are gonna wanna do. Why would he wanna do this? Why are people choosing plant based lifestyles? What is that all about? You know, like, what and so now I lean in anytime we discover these things, and that's become some of the best a, like, either, like discoveries, life changes I can make or, b, investments. It's a great way to invest because you're actually on the, like, the cutting edge of stuff, you're in early, which is I just moved forward, obviously. There's a book on, like, a famous business book on it where where he talks. I think it's crossing the or something. We talked about, like, early adopters and then, like, the there's basically this, like, bell curve of people where it's, like, in the beginning of the bell curve, it's, like, late people who are late to it, and then, like, the middles, like, the average Joe, and there's, like, early adopters, and there's one more, like, cutting edge. And you and I both have, like, a handful of friends which I would actually say that I I forget the names of them, but in that bell curve, there's people who are getting their names because you got the idea right, but you,
02:06
like, butchered all the names. Basically,
02:08
earliest as innovators
02:10
as, like, the people actually, like, figuring things out. And then there's early adopters. Then there's early majority. That's the kinda like big chunk late majority. That's the other part of the big chunk. And then there's the laggards who are like, you know, people who still have AOL, email addresses, and, like, you know, are looking driving around looking for blockbusters. And for a lot of things, I would say you are on the rights. You're, either an innovator or the one next to it, an early adopter.
02:33
I'm trying to go I'm intense I'm intentionally trying to go that way. So I thought,
02:37
you know, I'm just not that. I'm not, like, a futurist type of guy because I've been so wrong
02:42
And the and I figured out the formula for it. The formula for it is,
02:46
have an ego,
02:48
make a prediction,
02:49
be wrong, like, five times and have it rubbed in your face how wrong you were. Boom. You're not you're now a futurist.
02:55
Like, I remember the first time the iPhone came out, and I was, who the fuck wants to, like, read tiny text on a screen. Like, that's awful. I was like, nobody's, watch a movie on this. I was like, yeah, you can watch. Who would ever watch a movie on the this like tiny square? Like, that's, like, that would be the worst. It's worse than airplane headrest. Like, I remember saying these things to people. And, you know, this is, like, I was in college. I was, like, a junior in college. There's nobody remembers this, but I remember being that wrong. Snapchat. I remember being that wrong. My username still has the word test in it because I was so certain.
03:29
I was like, Snapchat. This is this is stupid. Right? This is just for kids and dick pics and stuff like that. Like, Certainly, it won't go on beyond this. Bitcoin, I was wrong early on. Right? Like, guys in my office were telling me about it back in twenty twelve, twenty thirteen, And I was kind of laughing and saying, guys, let's focus on something, like, legit here. And now I'm, like, you know, of fucking Bitcoin evangelist.
03:49
And so, like, Twitch. Same thing. I was wrong about stream. I've been wrong so many times that I've actually flipped the script now. I kinda had to reassess my life and say,
03:58
I'm not gonna be very good as a technology entrepreneur or a technology investor. If I just continue to write off the big things as dumb and stupid early on. Like, I need to go the exact opposite way. Okay. What would it take for me to do that? And I just I just inverted.
04:13
So instead of, you know, anytime I see that the same feeling, I instead lean into curiosity.
04:18
What's making people wanna do this
04:21
when I think it's so strange? And now, that that's like flipped the script for me. And we either had Justin or Emmett on at Husslkon or on here, and they're talking about Justin TV, which was the site for Twitch became a thing, and it was basically,
04:34
anyone could log in and create their own live TV channel and emit
04:39
I believe you could tell me if I'm wrong. I believe the story was like Emmett, but, like, there's a small corner of the site where these, like, guys are watching video games, and it wasn't a lot of people, like, thousands of people, but they were spending. Two percent, I think, of the
04:51
traffic,
04:52
at that time. But they were spending a significant amount of time watching. And he was like, that's is the one that we gotta go to. And and I don't even think it was that as data driven. Actually, the data pointed against it because, again, I remember it was a small trap, a small amount, They had a combination of two things working their favor. Number one, Emmett was like,
05:10
I guess, actually, the number one factor was,
05:13
They were fucked. The current thing wasn't working, and they had, like, no like, they had nothing to lose. They don't they were gonna run out of money and fail, or they had to try something dramatically different.
05:22
And, when you feel like you're fucked and you have nothing to lose, you actually have the one of the greatest assets on your side,
05:29
which is that, you know, when you have nothing to lose, you play completely differently. When you feel like you have something to lose. So that was the first thing. They had to change the the things that were popular were all like, illegal streams. It's legal streams of sports. So they knew oh, people wanna watch this, but we can't ever build a business around this. Yeah. So what ninety percent of people are doing on this site, we can't use. The two percent thing worked. And then the other one was he was like, I personally like watching these. So he's like, I'm gonna go with that. Like, these are my favorite things to watch on the network. So if I'm gonna work on this, I'm gonna work on the ones that I personally find, you know, the most interesting. And, actually, most of the company wanted to go work on the hotter sexier idea, which was called, what was the thing called the video thing they had, not Viti, their their their version of the call? Social Cam. Social Cam. So the company split in half. They said, alright. Justin TV is not gonna work. Abandoned ship. And we gotta figure out, you know, what's the what's the emergency ship? And so
06:24
they had this, I think Michael Sible, who now runs Y Combinator,
06:27
And Justin Khan, they wanted to do social cam. It was Instagram for video. Instagram is the hottest startup in the Silicon Valley, but it's photos. We're gonna do Instagram for video.
06:35
And they were able to instantly raise money. They got tons of initial hype and traction and press, and all the talented people in the company wanted to go work there. So I talked to this guy, Jacob, who's the o g designer at Twitch, and he's still there. He's still at the company today. And I said, how'd you know, like, to bet on Twitch instead of social cam? He goes, oh, no. Dude, I wanted to be on social cam. They do it just like, nah, like, we don't, like, team's full bro. Like, you go work on, the thing with Emmett, because Emmett was his childhood friend. He's a you you gotta go do that one. He's like, oh, fuck. Alright. Whatever.
07:06
And, you know, so, like, that was what seemed like the great idea. But, actually,
07:11
what Emmett did, which was leaned into this really weird behavior, unique lifestyle that these gamers were doing where they were streaming themselves playing for eight hours a day, that turned out to be the thing. And that's kind of my point, which is like, I think that there's like these I I do it on on, like, communities, particularly Reddit, but you can right now you could do it on Twitter. Or you could just type in like any idea or any hobby and type in the word forum, and you could just find like these niche communities of people that are kind of freaks
07:37
and it's fun to, like, learn all about it. Like, for example,
07:41
intermittent fasting, fasting is now, like, every all talk about it. I remember, like, eight years ago, I remember business insider wrote an article about, like, a Microsoft executive and they mocked him for the, like, intermittent fasting. What is this? And,
07:55
there's there's been communities online where I've, like, read about people doing this for forever and you're like, fasting. Like, no. Like, breakfast is the most important meal of the day. Just look at anything they make fun of Silicon Valley for. The beginning coronavirus, it's like VCs are so paranoid about the real world that they're wearing masks to conferences.
08:11
Guess what everybody's doing now wearing masks. Right?
08:14
Oh my god, intermittent fasting. Silicon Valley's latest craze, not eating till noon every day. You know, what a Google what Google engineers are doing. Right? It's like, make media loves to make fun of it. Guess what? That's what everybody's gonna be doing.
08:27
You know, what are some other things that are like that? I think, you know, some of them are
08:32
meditation, by the way, was like that too. People made fun of it, and then, you know, boom, it's like the new yoga.
08:38
The other ones I think that that are happening are, like, stem cell or any, like, blood platelet spinning stuff, where it's like, oh, you have knee pain? Well, these guys, they, like, go to Puerto Rico and, like, go to Germany and, like, get this fucking blood spinning treatment and go get stem cells injected on their knees. That and, j feel good. And gene editing. I think is is gene gene editing's one. Another one, breath work. I think breath work is where meditation was. I invest in this thing called, other ship they just actually launched their app. I use it every single day.
09:06
And, like, I use it religiously because I it makes you feel so good. And to to the average person, like, I do it outside now after Hooverman was, like, get get sunlight on your eyes. First thing in the morning, so I do it outdoors.
09:18
And I'm sitting in my driveway, basically doing it. And neighbors are walking by. They're walking their dog, what they feel is a very normal behavior. Go go for a morning walk. And they see me, like, doing fucking breathing techniques on my driveway, and they think I'm a nut.
09:31
And I love it. I go louder as soon as somebody walks by because I want them to know they live next to somebody from the future. Dude, there's this guy. His name was Bill, well, let's start with our there's this guy named Arthur Leonard. He's, he's dead now. But in the sixties and seventies, he was a New Zealand track and field coach, and he had runners like Paul Walker,
09:50
or not Paul Walker, that's John Walker.
09:53
Peter. Yeah. Yeah.
09:55
Peter Snell and all these, like, New Zealand guys who started winning the Olympics in the fifteen hundred meters, five k and ten k. And everyone's like, dude, what are you doing with your runners? And he goes, we run like a hundred and twenty miles a week. We do long distance running and we go slow and we just do it just a shitload of it. And this one coach, from Oregon got really interested. And, his name was Bill Bowerman, and he goes, well, I'm track and field coach at Oregon University. I have all these great runners. What are you doing? And he goes over to in the nineteen seventies of New Zealand, and he learns from Arthur Leonard, and he comes back and he starts making it popular. And two things happen. University Oregon is really good at track and field, and he ends up
10:34
making shoes for his runners so they can run a little bit faster and he calls it Nike. He calls that company Nike. He starts it with, with another runner Phil Knight. Yeah. And the other thing that happens, and this just it worked out perfectly is he starts talking about it to all of his friends, even writes a book about it. And I believe it's called like the joy of jogging. And the idea of jogging, it wasn't even, like, a thing in the stuff. It's that people are like, what do you mean? You're just gonna run, like, art? Is it from the place?
11:00
Yeah. Like, are the police gonna go after you? And and, like, it, like, it was, like, astounding. Like, prior to the nineteen seventies, so there was a, it was a jogging craze of the seventies prior to people didn't go out and run. That just, like, wasn't like a thing. And so anyway, that's like another example where, like, running became popular and Bowerman created Nike to kind of capitalize on it.
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