00:00
This was just, like, to me, such a cool clever idea. I couldn't find, like, their revenue. I didn't have a chance to check, but you can go on the site and site to call again
00:14
I've been trying to find what are these deductions, how do they work do I do I qualify? Now, interesting market that I saw. So my my father-in-law was like, yeah, you know, with solar, I was like, I don't own a building. He's like, yeah, if you own real estate, you know, you can depreciate the real estate. You can do solar. I was like, I don't own a building. So what do you want me to do here? He's like, well, you know, technically, you could buy the solar for another building.
00:34
And lease it to them, and then you write off your whole and your CapEx, whatever. And so what I found was there's this business. So if you ever notice a there's a long way of saying, have you ever noticed when you drive by schools that schools all have solar panels on top now? Sometimes. And and so if you see in California, especially, you go every middle school, high school has just got solar panels all along the roof. And the way this works I found out was,
00:58
companies like Chevron and Exxon or whoever, they want so they want tax credits. And so what they do is they go to the school and say, hey, we will buy solar for your school.
01:07
And they buy solar panels for the school. It becomes a tax write off to them. The school leases it from Chevron. And so Chevron gets a monthly payment from the school, and the school gets lower utilities without ever taking dollar out of its pocket. So I thought this was very interesting, and it sort of I don't know much about this yet. And so I may I'm gonna dig into this, but it seems like there's a there's a business to be had for basically pairing up
01:29
schools, churches, other types of entities that want solar. They want a lower utility bill, don't have the money to invest to do this whole infrastructure thing. And businesses, which are looking for tax write offs, and just make it where you push a button, the project happens, and you receive your paperwork that says, here's your deduction,
01:46
and here's your income stream coming from the lease. So I think there's a business to be built basically pairing up the two sides of the marketplace
01:53
a physical building, like a school or whatever that needs that wants solar and doesn't wanna pay any money. It doesn't wanna do any work. And a company that's looking for tax write offs that would that's willing to go give that school solar in exchange for the tax write off. Love it. I'm gonna tell you something even sim very similar as well.
02:11
And this is in the same vein of half very half baked, ten percent baked, one percent baked.
02:18
Most highway medians and government property,
02:22
or public property, has grass.
02:25
And the reason The reason it has grass is grass is the cheapest way to cover
02:30
land. Okay. But grass is actually incredibly expensive to upkeep.
02:37
Okay. Like, if you're in a median,
02:40
it
02:41
you have to mow it. Like, the way that the math works out, it's something like, I forget the exact. There's there's math behind us, but and then plus having to mow it and water it and do all this stuff, it's incredibly expensive.
02:52
And in LA, have to remember the numbers, but in LA, I think that, like, twenty or thirty percent of all water went to watering lawns.
03:01
Right. And so what they did was they tested this out and they gave,
03:08
turf to their residence.
03:09
They just gave it away. They go here. Right. We'll we'll do it for you. Yeah. And it reduced water usage, significant amount. And I started thinking about it. I'm like, that's kind of interesting. What if you just went to the government and you're like,
03:20
I'm we're just gonna let's let's just turf all the all the mediums in America.
03:26
Right.
03:28
And I because I heard the un NPR PR, they did this whole this whole this whole thing, they're like, about how bad grass is. And I was like, That's pretty amazing. I gotta look into this, and I have not looked into it. So this I sound like there's a fucking asshole episode, but No. No. So so so let me give you one more. Okay. So here's Okay. Here's the general theme of these really random ass topics we're talking about
03:46
is when you look around the world, and this is what I'm now training my brain to do. When you look around the world and you see some item or object or patch of grass,
03:55
just think to yourself, how did this get here? And what you realize is there is a business underneath every single thing. Like, this is we're going back to when we said, you know, when offices, you got that poster about, like, the kind of HR hazards or whatever, like the super stupid labor law poster you have to put in your office. That's a huge business. That's a huge business. That's a huge business. I was blind to this. Right? I just saw this poster. I didn't ask how it got there. I didn't ask why it had to be there, why every office has this. But whoever asked that question, realized an opportunity here, and they started laminating these fucking posters and making fifty million dollars a year, giving you this annual poster that you have to update in your office. So that's the the the test for the for the listener is start to look at the world and say,
04:37
how did this get here? Who wanted this year? What is the economics of this game? And oftentimes,
04:43
the the that's that's a good great point, Sean. A lot of times when people
04:48
They they don't think about that stuff. And it what if you dug deep, a lot of times you could realize that there was some bureaucratic decision that was a fucking horrible decision.
04:58
Right. Yeah. And there could be opportunity. It could be a totally broken opportunity. So a lot of times, there is like a scrappy entrepreneur who comes up with something cool like side business. Other times, it's like, well, why did you guys decide to, like, make the screws five inches instead of six inches? It's like, because, like, the six on the keyboard was worn out. Right. Right.
05:15
Alright. So here here's another example of these, like, hidden in plain sight businesses. Alright. You go to a you go to a airport. You take a flight. You go to baggage claim.
05:24
Okay. Cool. Nine nine times out of ten, your bag's there.
05:27
Now the other ten times out of a out of a hundred or whatever, you know, your bag is lost and they recover it. But there still ends up being this point three percent of luggage
05:38
that's never claimed. And Is that the number? Point three.
05:43
So it goes to ninety nine point seven percent of luggage, I believe, is gets claimed. And, so point three percent of of of luggage is just unclaimed baggage. So I saw this business called unclaimed baggage. What they have done is they went and they partnered with every airline, and they said I've seen that too. We will take the unclaimed baggage because they have some protocol, like, I don't know what it is. Like, after twenty one days, if no one claims it, now we're just stuck with this shit. And somebody was like, hey, that is not shit. That's a suitcase and that's some stuff inside. And so they were like Six have you seen a sixty minutes episode on this? It's it was Like, a two series. They're bay are they based in Alabama, Birmingham, Alabama, I believe. They're bay they're based somewhere random. It's the yeah, they have a a physical store in
06:25
where's he at? Alabama, Scottsboro, Alabama? Yeah. I I know this company, well, I love it. So you can go to their website, unclaimed baggage dot com. It's the there's things as the nation's only retailer of lost luggage That caught my eye. Anytime you say only, that means I locked up an exclusive on this shit. I'm so happy that I I'm I can be the only player, which means I'm gonna extract a lot of value here. So what they do is they donate a bunch of stuff that they get in the bags to charities. Cool. There's a feel good component to this.
06:53
They take orphaned bags and they recycle them, they sell them, or they donate them. And those three combined,
06:59
are a business. And so this was just, like, to me such a cool clever idea. I couldn't find, like, their revenue. I didn't have a chance to check, but you can go on the site and site. To call again, unclaimed.
07:08
Unclaimed baggage. Like, you'll buy this. There's a rolling stones, collectors' limited edition leather motorcycle jacket for five hundred dollars up on up for auction on this thing. What's it called un unclaimed baggage?
07:18
Unclaimed baggage dot com.
07:21
Well, we could find this out. I I remember sixty minutes, but it did a big, like, expose on the,
07:26
a while ago, and it it was like,
07:30
they they have, like, tens of thousands of square footage.
07:34
Right. Yeah. They have a huge, huge facility there. The other one that's like this, which I think is more popular. People know about this more, is the group that takes the Okay. You go to a hotel,
07:44
you use, you know, two squirts of shampoo out of the mini bottle, and now there's still three squirts left. And then you check out, and they can't They don't wanna give that empty half empty bottle to the next guest, so they ditch it. And so some guy was like, whoa, that's a lot of waste of plastic and shampoo.
07:59
And so someone started going into hotels and partners and said, I will take all your used shampoo bottles, conditioner bottles, body wash, whatever. And so they built a huge business just recycling this stuff. I love that. They take it. They they reuse the goods. They donate certain things to charity, and, it's such a good business. It's like doing good while doing well, and I think those are great. I love that. Here's why I'm I just googled. So Doyle Owens is the founder of,
08:24
unclaimed baggage. He's he's dead now. He died recently. And if you Google him, he's just like an old
08:30
Southern
08:31
Right. White looking dude. I mean, just a normal ass looking dude. And,
08:36
the guy who watches Billy Madison three times a day.
08:40
Well, the reason why I like him is because or I like this is because I think that people tend to over complicate things and, like,
08:47
I'm very passionate about the the mission of reducing waste.
08:51
Right. Just like
08:53
just don't, like, the idea of don't consume what you don't have to consume, and just don't be wasteful.
08:58
I was raised Catholic, like, and, like, this idea of, like, gluttony and, like, waste, it just says it's in my blood. Like, I hate it. This fucking guy, this is, like, the definition of just, like, turning shit into gold of just, like, he's just, like, because it's a super simple that it's not fancy. It's in Alabama, which, you know, I'm from the south. So but no disrespect to the south, but, like, people look down on that shit because they're in Silicon Valley that they're special.
09:21
And,
09:23
he just that this guy reduced waste significantly and got very wealthy in the process. Right. Love it. And created he probably created
09:31
maybe thousands of jobs for, like, low income people. This guy is the best. I love this. So if you have, if you know about a business like this, I'll call these hidden and plain sight, you know, super simple ideas, just things that you look around the world, most people just take them for granted, and then somebody out there is like, no, wait. How did this get here? Who picks this up when it's done? What's the business of that? Tweak those at me. I wanna know what other businesses are like this out there. Did you point did you make selecting them? Do you make that term up?
10:01
No. I think that they use that term for, like, serial killers that are just in society. So, like,
10:06
That's where I've heard it. It's like for criminals in some way, but I don't know. Yeah. It's a it's a phrase.
10:12
Dude Doyle Owens is this guy's name who started unclaimed baggage I love this guy.
10:18
Doyle, I hope you listen to this. He's dead. I'm sorry I said you. Oh, no. Oh, no. Dead. I'm looking at his obituary. He's he's dead.
10:25
Damn.
10:26
This guy's fucking awesome. Don't no one go into this market. I want this family to be. I love this family. Three seconds of silence for Doyle. Fucking there's a big New York time. This is I gotta cover this on the hustle. This is a super interesting story. An example of this that guys covered on the hustle is the mannequin lady in Oakland.
10:44
It takes, you know, I guess, either used or damaged mannequins out of stores, because again, what are you gonna do with this hunk of plastic? Needs this mannequin, and she's just got a warehouse of mannequins and then ships them out and, makes it killing. So so there that's another example of these Oh, like, these are parts of the world that you didn't realize are businesses.
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