00:00
Have you heard of this thing called live golf? I think it's called live. I don't know how you pronounce it. L I v. No. What's live golf?
00:09
Live golf. Okay. So
00:12
you know about the PGA tour. It's like the the main it's like NFL. That tennis thing. Right?
00:18
No. Gulf.
00:21
So
00:22
so Live Golf is a competitor
00:24
to the PGA that just emerged Oh, the Saudi Arabia effect.
00:28
Exactly. Yeah. Saudi backed rival.
00:31
And these guys are basically trying to
00:35
It's like they're trying to spin up a new league by brute force. They're investing hundreds of millions of dollars. I appreciate it. I think they pledge
00:42
Yeah. Yeah. Me too. Big big swing. So this is not this is the opposite of SPS. Right? So this is,
00:47
BDE. Yeah. So so basically they that they put the the Saudi public investment fund put in they pledge four hundred million dollars to start the league. I think they've even committed more than that now. I thought they offered tiger woods, like, five hundred million or something crazy.
01:01
This news came out. Yeah. They offered him eight hundred million dollars, and he said no, which is, like, just kind of an insane thing. So But they have signed other huge stars. So Phil Mickkelson,
01:11
you know, Dustin Johnson, this guy, you know, Brooks Kefka or whatever who who recently won the the he he won, like, four majors or whatever.
01:19
Cameron Smith, who's like this young star. He signed a hundred million dollar deal. Dustin Johnson, a hundred twenty five million dollar deal. Phil Nicholson, two hundred million dollar deal. They offered Tiger and didn't get him yet.
01:36
Alright. What's going on, dude?
01:39
How are you?
01:40
Fantastic. So
01:42
I have something that I've been thinking about that I've been wanting to talk to you about. I started,
01:47
have you ever seen
01:48
that video of Adolf Hitler
01:51
at the bur
01:53
at,
01:54
the German Olympics in nineteen thirty six. When he's watching the Olympics, and he's like a rockin' back and forth. Have you ever seen that?
02:03
Bro. You can't be blonde haired Blueive and coming on here starting off saying, have you ever seen my favorite video of Hitler? No. No. No. No. Have you ever seen that video? Up the charts, bro. We're trying to go up. Have you ever seen that video of him, like, he's like, basically, he there's this video that I saw a couple, weeks ago where he's at the Olympics and he's rocking back and forth. And he's very clearly on drugs. Like some type of coke or something. Like, he's on drugs. And I started getting curious about it, and I started looking into this. And someone in the comments said that there's this really good book called Blitt So I bought it. It's right here. It's called blitz. And basically, it's a it's called blitz, drugs in the third reich. So basically,
02:41
after reading it, Hitler
02:43
and a ton of the Nazis, as well as just a ton of Germany starting in the nineteen thirties, like,
02:49
morphine,
02:50
heroin
02:51
and meth was invented, and they used to think that it was like a miracle drug. Doctors were like, take this meth. It makes you feel great.
02:58
It's like this it's like a it's like a it's like a miracle drug. Like, you get euphoria. You wanna stay up all the time. You'll eat less. It's this wonderful drug. And, like, it was a legal drug that bear you know, b a y e r, the drug company now, they were, like, selling the shit, and they would even put it in chocolates. And there was, like, a chocolate that you would eat that had a little meth in it, and it was, like, always satisfied or something like that. And, like, it was so common.
03:20
And turns out
03:22
Hitler was a junkie. He was getting injected with meth
03:25
for years, and that's one of the reasons why, you know, like, when they were getting bombed at the very last minute, he was like, oh, no. We're doing great because he had, like, these, like, you know, was, like, hallucinating. You know, he had, like, thoughts of brandered, typical meth shit.
03:37
And I started thinking about this.
03:40
What other stuff
03:42
in history was supposed to be one way and be happening, like, one time, but turns out it was for a totally other reason. And I started looking into it. So, for example, Henry the eighth, he was the kid. Have you know what protestants are?
03:54
No.
03:55
That's I've heard that word a thousand times. I knew you would know. Do you tell you what it is? Do protestants?
04:00
No. So, like, there's, like, the Catholics. And then there's the, the protestants. It's basically, like, if you're, like, an evangelical christian. If you're a Baptist, if you're, like, all these other different types of Christian religions, you're probably a protestants.
04:12
Maybe by definition you are. Anyway, someone came up with it. Like Martin Luther came up with it and and and in the fifteen hundreds, the king of England, he basically, like, had, like, eight divorces because he couldn't have a kid. Like, it was it was him. He was infertile. And the pope was like, hey, you can't have these divorces anymore. This is bullshit. And he's like, no. Fuck that then. We're gonna switch to Protestant because that allows, like, you know, me to get a divorce, and I can have all these kids. And so now, like, there's a billion protestants in the world because he just turns out, like, wanting to divorce.
04:40
And then, like, there's this, like, there's this, like, story that you're you're you're you ever know how Barcelona people say Barcelona really funny? Like, Barthelona. The lisp. Yeah. Yeah. There's like this urban myth that the king of Spain had a lisp And someone's like, hey, you know, it's pronounced Barcelona and he goes, no, from now on, it's Barcelona
05:00
because, you know, that's just how I say it. That just
05:05
My first million. Yeah. Yeah.
05:09
You know, if Mike Tyson ruled the world.
05:14
And just thinking about, like, what other stuff
05:17
Did we think that was gonna be, like, you know, was for this, like, grand reason, but it's really just, like, you know, like, the guy's dad said something, like, like, George Bush
05:26
invading like, you know, looking for weapons of mass destruction because, like, his dad was like, you know, you're not strong like your brother. And, like, he or, you know,
05:35
because he couldn't find the remote one time now to get this complex. Orion, this, like, leftover, like, mission accomplished banner. He's like, oh, we gotta do something with it. You know, like, what else, like, what else in history has been done just for, like, totally the opposite reason.
05:49
I don't know, but I bet there's so much. Like, I think about this with food all the time when I see, oh, you know,
05:56
you know, people are like, oh, you know, that the active ingredient in Advil or aspirin comes from this, like, oak tree and like blah blah blah. I'm like,
06:05
you know, how do we figure that out? Like, who was just gnawing on trees? I was like, you know what? This one, I had a headache earlier, and now I don't have it anymore. Right? Like,
06:13
All foods was like, oh, this one kills you. This one's good for you. It's like,
06:17
okay. But, like, you know, who were the testers? Who was figuring this out along the way. I actually think that that was probably,
06:24
like, what's the most fun time to be alive was then when nothing when no one knew anything about
06:29
anything.
06:30
Like, you didn't know what was food and what was not food. Like, how much just random soil has been eaten by somebody being like, this has to be food. And then somebody else is like, you know, sees a chicken running by. He's like, no. I think under that fed under those feathers, there's something there there. Dude, there's all thinking about stories like that. And I never research it. Like, have you heard about, like, the invention of LSD?
06:53
No. The guy,
06:55
He it was a European doctor. He was trying to, like He's a doctor. Right? Yeah. He was just trying to make, like, I forget what it was, but some type of antibiotic, like, just something normal. And he got a little bit of the shit in his skin. Like, he, like, touched it funny. And he was like, oh my god. This is awesome. And then he, like, starts tinkering with it even more. And he goes, alright, let's try this, and he gives himself a huge dose, and he starts running home on his bicycle. He's like, nothing's happening. Like, this didn't work. And then all of a sudden, hits him and he like has the biggest trip of his life, and then he, like, you know, it changes everything.
07:24
Yeah. I feel like penicillin. There's a whole bunch of drugs that were discovered by by accident for sure.
07:31
Yeah, it's it's I I mean, I don't know where you wanna go with this topic, but I don't wanna go anywhere. I just thought it was interesting. This book, like, I'd just been reading this book about drugs and, like, the Nazis. And I was, like, it's crazy. Like, the book says that they, at the time, And then thirties and forties when World War two is happening that something like sixty percent of German doctors were addicted to morphine. And they are the ones like, you know, voting on what the laws were gonna be around, you know, how these controlled substances are handled. It's it's it's it's crazy. And it it changed my principle. Didn't change my perspective, but you know what I mean? It's just like a a an interesting read.
08:06
Let me tell you a a interesting story.
08:08
Have you heard about this math teacher in Florida?
08:13
Nope.
08:14
No.
08:16
These stories can go one of two ways. Yeah.
08:19
Yeah. Yeah. I did dog. Was he on dog, the bounty hunter? I I'm not I I mean, this could go a bunch of different ways. Yeah. Is there a funny, like, viral video of him in a seven eleven?
08:28
No. So get this. So so,
08:31
so Brandon was telling me about this. This is kind of amazing. So there's this guy. Okay. So you know, like,
08:36
you know, there's, like, kinda, like, school competitions, whether it's spelling bee or math competitions or whatever, So there's this math competition.
08:43
And there's this kind of strange thing going on where one small school is not a private school,
08:49
has won, like, fifteen out of the last seventeen of these math competitions.
08:54
And people were like, god, what is going on at, like, Buckholz High School?
08:58
And the story is kind of amazing. So there's this guy, Will Fraser. He's a he starts as a banker on Wall Street, and he's doing, like, bond trading or something like that. And the guy's this is, like, in the eighties. He's, like, you know, there's the heyday
09:11
of of of where, you know, you've ever read those books like liar's poker and things like that. It's like the heyday of Wall Street. People make tons of money.
09:18
He retires by twenty seven. So he's made a bunch of money. He's like, dude, this is too stressful of a lifestyle. How much did he make? I don't wanna do this anymore. I don't know exactly how much you made, but enough to retire at twenty seven. So let's assume it's, you know, like, I would say ten million at least. Okay. That's my guess. So he buys a Ferrari. He drives down to Florida. He's like, just dreaming of, like, a slower, calmer life. He's like, you know what? I'm just gonna go to Florida, bought this Ferrari. I'm gonna just play a bunch of golf, play a bunch of basketball, and I'm just gonna hang out. Do for our set. Yeah.
09:47
For for a decade,
09:49
he's, you know, that guy, you see on, like, Tuesday at one PM, just, like, hanging out at the park, and you're just, like, how you you don't have a job? Like, what's going on? He's that guy. And he does ten years. No income. Ten years. He's just chilling. And he plays a bunch of golf and along the way, he's sort of like, yeah, you know what? Like, I'm feeling a little aimless. Don't have a great, you know, purpose in my life at this point. So he's like, he reaches out to a local high school, and he's like, hey,
10:13
Can I teach golf over there? They're like, oh, sure. He comes over and he teaches golf. He was like, I like teaching, actually. Even on Wall Street, I actually I I liked teaching the young guys. So he's like, what what else can I teach, like, a finance class? You know, I'm a former Wall Street guy, made it big, retired. Can I teach you fine? No. We don't have finance, but, You can become a math teacher if you want.
10:32
And he's like, alright. I'll do it. And so he goes and he becomes a math teacher, and he walks in on day one, and he's like, Listen, let me tell you this right now. I don't need this job. You guys you guys can give me any shit. This will be my last day. And they're like, okay.
10:45
You don't respect. And so he gets one day he's like checking his mailbox as a teacher and he sees this math competition coming up. He's like, oh, like, that's cool. Let's try this. So he enters into the math competition that go there and they get smoked. They get fifth out of sixth, place. So they're they're second to last. And, and he's like, dude, I couldn't even solve some of these problems. Like, this is hard.
11:06
But, like, the flip you know, the switch got flipped. The competitive switch in him gets flipped. And he's just like,
11:13
actually, I liked that competition. I've missed the comp titian of Wall Street where it was just a completely doggy dog and you're, like, high intensity. And so he decides
11:23
to do it again.
11:24
And again, and again, and he be I mean, he he goes and he they get fifth the next time. Then they get third. And that so on and so forth, and he be he's be basically decides that we are going to dominate these competitions. And that's exactly what's happening. Dude isn't that the best? We're like Fifteen out of seventeen. The fifteen or seven. Isn't that the best when someone just, like, sees, like, a small opportunity, and they're like, no one takes us as seriously as we're gonna take this. Let's do it. You know what I mean? I love them. And that's exactly what It's like that cheerleading movie that we watched. On Netflix that the it's like they just like yeah. They take it to the the the highest degree. Discover? Yeah. The one that you made popular.
12:01
So the So the guy there so people are like, dude, what's your secret? What are you doing differently? Blah blah blah. He's like, oh, I just took a different level of intensities. Like, it's just insane hard work. He goes, You know,
12:12
average math teacher gets seventy two hours of classroom time with their students per semester,
12:18
And then they hope that after school, some of those kids come and they learn for an hour, you know, once a week or whatever, that's what they're putting in. He goes, Oh, I just switched it. First, I took all the good math kids. I put them in the same class, kind of like almost like, you know, the, like, blended of age. But, like, he's like, I put all the best people in the same that they would compete with each other. Then we used our class time to start preparing for these competitions.
12:40
Then I started creating summer camps where we could get eighty hours in four weeks. So the equivalent of a full semester of teaching in this high intensity thing is, like, and I just developed a program because they're like, are you the best He's like, no, I don't even teach the advanced math stuff. Like, one of my former students teaches, like, the hard stuff, I just build the program. He's like, I put the high school students with the middle school students,
13:02
and that because the middle school students sort of idolize the high schoolers, and they teach down, and then the the the middle schoolers rise up. He's like, so I built this program where one alumni, basically, like, the older kids teach the younger kids, the younger teacher gets even your teacher even younger kids.
13:16
And we just put in way more time. He's like, then I started scouting. Like, this is like, you know, Alabama football. So he'll go and he'll look at the scores of other schools. And he'll find the high performing kids, and he'll recruit them to his program. That's crazy. And then the reputation got built where they started winning. So now parents are coming inbound and being like, please take my kid.
13:34
And he's like, we only have so many spots. I'm sorry. And so he's built this, like, talent pipeline. And not only that, they actually the town pipeline goes even further. Now companies like Mackenzie and the big banks Wall Street, they come recruit from his high school. The big schools. I believe -- For internship. -- come recruit from his high school because they want his students now. So he built like a a platform for where they can go, which helps them recruit even better students.
13:57
And so Where'd you see this story? To happen.
14:01
What's that? Where'd you read this? It's just like the I think that so it's been just like the local Florida News for a while. And then I saw something And the one were you doing? Brandon's article. Who's Brandon? No. He sent this article from the Wall Street Journal or something. It was like Paywall, so I only got the first paragraph. I'm too cheap to pay for it. But I was like, oh, what's the story? And then I found all these local Florida papers that had that had the the rest. And so,
14:22
They said, like, during COVID, they were like, oh, you gotta teach remotely. And he's just like,
14:27
oh, okay. Yeah. We're gonna downgrade the intensity. He's like, hold on. I resign.
14:32
And then he went to a church, rented out the church. It was like, Hey, if you guys wanna come and train here, we could do this. And a hundred forty kids went and trained daily in his church during COVID when everybody else was low had to lower their intensity. He ratcheted. How old is this guy now?
14:48
So now he's, like, in his sixties.
14:50
And so he he's been doing this now for, like, you know, a number of years. So he took he was basically twenty seven. He took ten years off, so he's closer to forty, ten, eleven years off. And then basically from forty to sixty, he's just been dominating
15:01
this one thing.
15:03
Isn't this incredible? That's incredible. This is incredible. I think there's a few things. One just the intensity Number two, I think sometimes if you pick, like, a lot of people, including me, we wanna move to San Francisco, New York, LA, and try to become, like, a medium sized fish at a big pond. I think there's so much to be said about being the best or a big fish in a little pond. And, like, you can make a name for yourself and have a way better life. Like, This random dude is having so much more impact
15:30
by creating a map being like the guy for like this very small math contest versus
15:37
you know, rich. It's probably way more fulfilled than being just, like, another hundred million dollar banker.
15:43
Dude, I I wanna get diagnosed with a bad case of SPS.
15:46
I want small pond syndrome.
15:49
And,
15:50
like,
15:51
I I'm a huge believer in this. Do what I so I lived in Houston,
15:56
in high school. And Houston, I went to a big public school, five thousand kids,
16:01
and kids from all over Houston. And basically,
16:05
I my life was basketball. I loved basketball.
16:08
And I remember a game in ninth grade.
16:12
The Varsity coach, I was on the ninth grade team, and I, you know, the the goal would be to someday be on Varsity. The Varsity coach
16:19
watching her game. And for some reason, I think I scored, like, I I had, like, two threes to start the game. And then all of a sudden, the most athletic a kid on their team decided, like,
16:29
nah. This guy's not gonna, like, see the hoop again. And he starts picking me up full court. Basically, like, from the moment I can move This guy's, like, in my shirt.
16:37
And,
16:38
you know, and I I can't I literally can't get by this guy. Like, I'm trying to go left, I'm trying to go right. I cannot get by this guy. And I don't know what to do, and I'm just basically, like, getting frazzled. So coach calls time out, the the coach calls time out, the varsity coach walks into the huddle. And I think he's gonna give me this, like, epic advice, maybe, like, that varsity advice. How am I supposed to get by this guy? And he just he goes, you will never play varsity back? Oh my god.
17:02
And I was like, what?
17:04
Thanks, coach Hollingsworth. And he's just like, if you can't handle this guy, you will never, like, because he's, like, I thought you might be. And now I see no as, like, some motivational thing. Yeah. Then he just gave you a way she had walked away.
17:18
I
17:20
can nerd. So hard. Yeah. Yeah. Exactly. Like, yeah. Yeah. I'd like to report a bully. Yeah. Yeah. Nice. It's Is there a checkbox for faculty?
17:31
But but he was right. And in in the Houston pond, I was nowhere near athletic enough to be whatever. Now luckily, my parents, my dad gets a job in in Beijing. We moved to China in the tenth grade.
17:43
I go to China. First day, I start playing basketball.
17:47
You know, that's for all the rest. These kids don't get protein over there. Yeah. These kids don't get protein. Everybody's scrawny.
17:53
I'm blowing by everybody.
17:55
Varsity coach walks over. He's just like, Hey, what's your name?
17:59
I end up being captain of the Varsity team, you know, I got a girlfriend. Like, my life changed for the better. Like, oh, everything got better because
18:07
I caught SPS.
18:09
I got small small pond syndrome.
18:11
And I was able to go be a Farsity player over there, Captain of the team. The captain of of a football key, of a football team in rural Alabama with a hundred students They live the life. Screw the big city. Live that life. You know what I'm saying?
18:26
And there was a part of me, a foggy part of my memory that remembered, like, You ain't shit. You ain't shit. You ain't shit. You ain't shit. You ain't shit. You ain't shit. You ain't shit. You ain't shit. It couldn't get washed away. I like those feelings. I thought It became like, you're the shit. You're the shit. You're the shit. And that's what you wanna do in life. This guy, this guy's doing it right. Actually have this dream too. I was like, I just had to wanna retire and coach high school basketball. Like, I think that would just be a lot of fun.
18:52
And,
18:53
and and yeah, you know, this small pawn thing, I think we're onto something. I I've thought about this for a long time. I thought about moving back to Saint Louis for a minute, but my wife wasn't down. But I was like, dude, I could just be the man here.
19:03
You know, I could buy a million dollar house and it would make the news. You know what I'm saying? Like, a million dollars at San Francisco or New York is a studio.
19:11
But I was like, it would be it would be one of the biggest purchases of the quarter. I would make the news. It would be awesome. But then I realized I,
19:18
you know,
19:19
I don't wanna do that.
19:24
Yeah. I I don't wanna do that.
19:26
Bro. What else do you got? By the way, I I have straight fire today. If you want, if you want more than Alright. I've got fire too. I think. Did you see what I have in there?
19:35
No. I don't even have the thing open. Oh, well, fuck.
19:39
Well, you could screw Give me one. Well, okay. So I spoke to, like, a a bunch of different companies this week. And
19:47
They gave me all their revenue, all the profit,
19:50
and a few of them are interesting, and I could just, like, bullet point and quickly go through a few of them. You wanna do that?
19:56
By the way, explain why does somebody, yeah, why does somebody just give you all the revenue and give you all the profit as you say?
20:03
Because it sounds like a unrealistic and b, like, you sort of, like, tricked them, but that's not the case. No. I sent that. Okay. So,
20:11
I've got this, like, community that I'm running, that I'm not gonna talk about yet, but it's like a CEO community.
20:18
And when they join, they tell me all types of interesting information so we could place the right group.
20:23
And I messaged
20:25
eight of them. And I said, hey, can I talk about you on the pod? And can you answer these questions? And am I allowed to reveal all of your information? Well, if I am I allowed to reveal the information that you gave me? And they said, yeah. Sure. So that's how I got it. So, n nothing like crazy.
20:40
One do you wanna do? Alright. I got a couple of them, actually.
20:43
Give me the most interesting one first. Let's do,
20:47
okay. Well, here's one that's actually not on I don't even think I put it on here. Have you ever seen those petal taverns in,
20:53
like Nashville and Denver? It's like the bars that you, like, pedal with, like, a is there they're honestly pretty obnoxious. But you don't talk about No. Peddle what? What do you add? It's called a Peddle tavern. So, basically, is it a bus? Like, a You've never seen I guess you don't, like, leave the suburbs of San Francisco, but in a lot of other cities, Denver, Austin, Nashville, like these, like, style cities, there's these things called petal taverns.
21:15
They kind of look like,
21:17
Imagine a bar in the middle, and there's eight people sitting on one side and eight people sitting on the other side. Now imagine that being on top of a four wheeled platform and you're peddling that platform while you're drinking booze. You've never heard that? But you're outdoors. Right? You're outdoors on the street. Yeah. Yeah. So Yeah. It's like a some party thing. Yeah. Gotcha. The guy who created one of the first ones is in the group and his name's Pete And his business does he bootstrapped it from nothing just out of school. He it's getting close to eight million a year in revenue. And just the pedal tavern do about five million a year in sales,
21:52
quite profitable. And they're using the profits to buy the real estate that they're
21:57
pedal taverns
21:59
stay in overnight.
22:00
That's a pretty interesting business.
22:02
Let's see. Another one is, have you heard of,
22:06
Let's find another one. Have you heard of, you probably never heard of this. So here's an interesting one. There's this business called The Peak. It's ran by this guy named Brett. So it's a daily newsletter. So just like the hostel, morning brew, whatever.
22:17
Mostly bootstrapped only in and it's in Canada. And so every day, it gives you the news you need to know about Canada, can't Canadian news.
22:25
Only a team of ten, ninety thousand new subs newsletter subscribers,
22:29
not that much. And doing about three million revenue with third with a million in profit. Pretty good business, a small team of ten, ninety thousand subscribers, fifty three percent open rate, sixty seven thousand monthly podcast listeners. The guys were like kind of good,
22:45
writers, but not really that good. And they just started, like,
22:48
writing and cold emailing people and hiring writers. And after two or three years, it's already about two or three million in revenue.
22:55
So what are they doing differently? Because that's more revenue per subscriber than most, I think. So Is that right?
23:02
Yeah. It's pretty good. But basically, he they just said that,
23:07
with in Canada, like, there's not that many there's not as many publications
23:11
and b to b advertisers soft software companies, they don't have that mint money places to advertise. And so these guys have just done a really good job of getting the banks the telecommunication
23:20
companies,
23:21
b to b software companies, all these, like, high end enterprise companies to advertise with them.
23:27
Gotcha. That's pretty good.
23:29
Okay.
23:31
We'll do one more one to tell you about a company. Oh, fine. You can go. Okay.
23:35
Okay. I wanna tell you about a company that you may have heard of.
23:38
Have you heard of this thing called
23:41
Live Golf I think it's called live. I don't know how you pronounce it. L I v.
23:44
Or live?
23:46
Wait. L I v?
23:48
Yeah. Just l I v. No. What's live golf?
23:52
Live golf. Okay. So
23:55
you know about the PGA tour. It's like the the main it's like NFL. For golfing. Right?
24:01
No. Gulf.
24:04
So
24:05
so Live Golf is a competitor
24:07
to the PGA that just emerged. Oh, the Saudi Arabia effect.
24:11
Exactly. Yeah. Saudi backed rival.
24:14
And these guys are basically
24:16
trying to
24:18
It's like they're trying to spin up a new league by brute force. They're investing hundreds of millions of dollars. I think they pledge
24:25
Yeah. Yeah. Me too. Big big swings. So this is not this is the opposite of SPS. Right? So this is,
24:30
BDE. Yeah. So so basically they that they put the the Saudi public investment fund put in they pledged four hundred million dollars to start the league. I think they've even committed more than that now. I thought they offered Tiger Woods, like, five hundred million or something crazy.
24:44
This news came out. Yeah. They offered him eight hundred million dollars, and he said no, which is, like, just kind of an insane thing. So But they have signed other huge stars. So Phil Mickkelson,
24:54
you know, Dustin Johnson, this guy, you know, Brooks Kefka, whatever, who who recently won the the the he he won, like, four majors or whatever.
25:02
Cameron Smith, who's, like, this young star. He signed a hundred million dollar deal. Dustin Johnson, a hundred twenty five million dollar deal. Phil Nicholson, two hundred million dollar deal. They offered
25:10
Tiger and didn't get him yet, but, And Phil can only be on. It can only be on live and not PGA.
25:18
Exactly. So it's a competitive thing. So PGA is like there's like, I don't know,
25:23
sixty events a year, whatever, And then there's, like, four majors. What these guys are doing is, like, there's eight events, and they all matter. They're going for more of, like, the NFL model,
25:32
versus baseball. Right? Baseball has hon you know, almost two hundred games a year. And, you know, they don't really matter, but this sort of always something on. Whereas the NFL is, like, there's, like, seventeen Sundays or eighteen Sundays, and, like, they each one is gonna matter. So that's what these guys are trying to do with the golf model.
25:48
And to, like, put this into context, you know, Tiger Woods he he has earned a hundred twenty one million dollars in all of his PGA winnings, like, over time. You know, obviously he makes more through sponsors and and, you know,
25:59
other sort of like paid events and things like that. But just from the PGA,
26:03
his lifetime, I think earn earnings are a hundred twenty one million. So Live is coming out strong and basically giving these guys, like, Tiger Woods lifetime money as a guaranteed contract instead of the way the PGA works is it's like, There's a prize pool for every tournament. There's nine million for every tournament. The winner gets three. Everybody else gets like a a piece depending on how you finished, and they just do that over and over and over again. And so they do forty eight events a year. And,
26:28
and and so Live comes in and they basically are giving guaranteed money away instead of saying you have to win in order to be there.
26:35
And so PGA makes, like, a billion and a half dollars. Yeah. I'm looking it up right now. Revenue. One point five. A little bit over one point five.
26:43
And, you know, eighty five percent of that is, like, their their tournaments and the media rights and ads and all that stuff that comes from that. They have, like, a nine year car. They're in year one of a nine year contract.
26:52
And then mister steal your girl comes in and is starting to just take these stars away.
26:58
And,
26:58
and basically is is trying to, you know, compete with them. They also have, like, price price money as well. And so they need, you know, they would need to generate like a billion dollars as well to sort of like have like a similar economics.
27:10
But what's the play here? Do, like, Middle Eastern's
27:13
watch a lot of golf? Is that the stick? Is like this? No. I I I don't know if that's why, like, maybe.
27:19
Like, you know, there's, like, that weird thing where, like,
27:21
Russia
27:22
really loves, like, women's basketball if you know No. Like, if you're a great women's basketball player, you play college in the United States, then you try to make it to the WNBA,
27:31
And the WMB pays you basically nothing. Like, you know, you'll make, like, seventy, eighty k. Yeah. Like a shoe salesman salary. And then you'll get, like, three hundred four hundred k for playing the off season in Russia. Yeah. And everyone's like, why does Russia care this much about women's basketball? Like, nobody asks questions. And, like, yeah, it's a little bit whatever. I don't I don't know exactly what's going on there. But
27:50
but that's like, you know, they've disproportionately
27:52
liked that sport. And so maybe there is something in in, Saudi Arabia for this. Or it's just they have a huge amount of money and they see the business opportunity where PGA basically had a monopoly on this. And if you can create a successful sports league,
28:04
these are worth billions and billions of dollars. Like, we both love the UFC. UFC
28:08
sold for, I think, four point two billion dollars.
28:12
In my opinion is -- Under. -- now, like, very low. Undervalued for where it is. And that's, like, POC is, like, fringe compared to NBA, NFL, like, these major
28:21
major major major league. What's more popular?
28:23
Golf or p or or UFC, golf. Right?
28:28
I think Gulf is not more popular, but it generates more revenue. But what's more land? Because it's like sort of the wealthy.
28:35
Who beats up who are over with their club or UFC fighter with his hands?
28:41
I I fucking hate golf.
28:44
I hate golf. I cannot stand golf. Golf's got a sport, golf's an activity.
28:53
How much of
28:55
your thinking
28:56
at the end of the day boils down to who could beat up who?
29:00
Most.
29:01
Most. I think that I think because that's, like, that's, like, something that we're all, like,
29:07
like, we're all afraid of. Like, the guy who at the end of the day is, like, Oh, I can kill anyone in this room with my bare hands. He is,
29:15
you know, he's the true, the true dog. You know?
29:19
He has nothing to fear. Somebody.
29:21
Somebody said this once. I was reading, like, a NFL scouting reports. Like, there was a draft. There's four quarterbacks. They're all, like, top prospects. He's like, who's gonna go number one? Who's number two? And the guy who does, like, the draft, he said this line that I thought was so badass. He goes,
29:36
If they were all on vacation and going for a road that, you know, they they're walking out to go to the car,
29:41
they would all throw the keys to Mark. Like, they would check the keys to our Mark's driving. And they were it was like this, like, alpha male thing. And I was just like, what was this analogy? And why did I love it so much? Like,
29:53
if you just said this, if it was like, hey, Elon, Jeff Bezos, a Mark Zuckerberg, Bill Gates, go out to dinner.
29:58
Who's paying? Who's picking up the check? Yeah. Yeah.
30:02
Who ordered the Uber? Yeah. None of these guys are driving. Did you,
30:06
when you're in a room, like, at a restaurant, who sits aisle? How how what percentage of the time when you're at a restaurant? Do you look around and be like, whose ass can I kick and whose can I not?
30:16
Zero. Really?
30:18
But I know that you do, which is why I asked you this question because it's hilarious. You don't think about that?
30:24
Zero. Zero percent of the time. Dude, I cannot stand golf. Any sport that you wear khaki pants to to to, like, play, it's not a sport.
30:33
That's not a sport. It's an activity. It's a hobby.
30:37
It's checkers, but it's not, you know, like
30:40
It's barely a job if you have to work at barely a job.
30:45
Like, a sport is sport is out of the question. Was it a khaki's in a collared shirt?
30:50
That is not that's I mean, that's not a sport. Like, you you don't sweat. It's an activity. It's a hobby.
30:57
This is amazing, though. I I I don't
30:59
Like, let's get rid of the Saudi Arabia thing.
31:02
I think it's pretty cool. But if you're Phil Nicholson and you have fuck you money hardcore,
31:08
And Saudi Arabia who has, you know, a lot of human rights issues offers you this. What do you do? Do you take it or not? So you double your net worth probably if you're him.
31:18
So I think you can't take it alone in a vacuum because you're not trying to go sit on an island
31:24
doing nothing.
31:25
By yourself and, like, lose all your relevance. You use your future earnings if you do that. But I use what I do is I say to them, look.
31:32
I'm in if you can go get forty percent
31:35
of this list
31:37
to join. And you could tell them
31:40
that fills in if you're in.
31:42
And I would basically say you need to sweep the
31:45
and a critical mass of us so that this is relevant, that this is considered the top class, I'm not gonna go play in the b league or the d league,
31:52
by doing this. And I would tell them that. And I would say, I I'll do it. You're gonna have to cut the fattest check of your life, and you gotta go get forty percent of this list. So there's a there's a price that you take for sure. Oh, of course. Of course. If, you know, if somebody said, hey,
32:07
you gotta go do this podcast on on Android, and I'd be like, is Android even is there a podcast player on Google? And they'd be like, Yeah. Yeah. Yeah. It's we reported a lot of investment into it. I'd be like, alright.
32:19
Alright. I'll do that. I'll take this podcast to SoundCloud. I'll I'll take it to the to the Google Play Store.
32:25
But I'm gonna need to see
32:28
seven and a half million dollars. That's what I would say about this podcast. I would I would move this podcast for seven and a half million dollars. That is my price. There's there's a price to pay to be a whore. I'm down, but,
32:38
So we actually were gonna do this. So at one point in time, I had a startup that was based on
32:44
like, streaming video games.
32:46
And Twitch was the, like, nine hundred pound gorilla in the room that was, like, it was the big streaming platform. And we were just, like, we were trying to build a tool that worked on top of Twitch, like streamers could use it when they used Twitch.
32:58
And it was working. And every day, we'd come into work. We'd work really hard on tool, but, like, there was definitely a part of us that was, like, dude, how did we end up here? We're making this, like, tool for Twitch streamers,
33:08
that, like, is free. And then we're hoping that we could, like, after they all use it, then we might be able to monetize this other way. We're just like this Guppy and this, like, in the in the in the ecosystem of this food chain, we're like that little fish that, like, swims in front of the whales, nose, like, whatever that thing is called. Like, we're that. And I was like, I looked at her account. I was like, man, don't you just wanna be the whale? And he's like, it's so badly. Wanna be the whale? And I'm like, yeah. So what can we do? He's and we're just like, mate, we went to the room, which whiteboard would be like, How would you, like, compete with Twitch itself? How would you just beat Twitch?
33:40
And I was like, just look at the numbers. So we we, like, ran the numbers. We're like, Twitch has this insane power law where you can see that the top, you know, x hundred streamers. If you take the top three hundred streamers, They basically make up all the viewership, all the all all the meaningful viewership. Like, I don't remember what the exact ratios were at the time, but like any power law, it's like, you know, the top one percent or whatever make up a very significant portion -- Right. -- viewership. So let's just make up some numbers. Let's say the top three hundred made up fifty percent of the viewers at any given time.
34:10
I was like, so Twitch is worth. Twitch sold for a billion dollars, like, a decade ago or whatever,
34:15
seven years ago. It's probably worth five, seven billion dollars now. You're saying
34:20
that if we could take, you know,
34:23
half of that half, if we can get to a quarter of that, we'd be worth a bill. You know, we might we might have the equivalent of, you know, twenty five percent of the traffic would be worth, you know, a quarter of what they're worth, which is like a billion dollars today. How much money would it take for us to throw at those people?
34:37
Right? Go get twenty five percent of that three top three hundred. How much money would it take for us to go throw at them? To be like, come join our new thing.
34:44
And we, like, game theory the whole thing out. We're like, alright. This guy makes this much today.
34:48
We basically need to offer him, like, ten times what he's making today. Much how much do do some of these guys make just on Twitch? So shortly after that, the contracts exploded.
34:58
But, like, at that time,
35:00
the top guys are making, like, single digit millions,
35:04
per year off twitch. So, like, let's call it between one and five million.
35:08
Plus those are some endorsements. You don't really know how to track and, you know, they they sell some amount of t shirts. It's hard to know. And then it sort of exploded. Guys started signing, like, you know, ten, twenty million dollar deals, but they're they're they're like multi year deals, three year deals or something like that. So, you know, they're making six million guaranteed or something like that. Five million guaranteed, ten million guaranteed.
35:27
So,
35:28
that was like the kind of like our what our estimates were for the very, very top guys. We thought, okay.
35:33
So how much would we need? And it's like, we basically did the math and we're like, okay. I think you need I don't remember what the number was today, but let's call it. Let's just pretend it was a hundred fifty million. We need a hundred fifty million dollars to go throw at them. But it's like, if I told you, you could go raise a hundred fifty million dollars. And you're saying you needed a hundred and fifty million dollars in order to pay the
35:51
streamers and tell them, bail on Twitch, come to our platform. And when you come to our platform, you're gonna bring your audience, and we're gonna make all this money eventually through other people coming. You get this much guaranteed. All you have to do is just continue to stream and you have to promote it in this way and let us promote you. I make a prediction? Five million to build this platform? My prediction is that would never work.
36:11
I don't think that works. Okay. So tell me why. I'll tell you how how it obviously, it didn't happen to the, you know, you're partly right. I think it could. Tell me why you think. Well, I know that you didn't really try to do this, but, alright, I don't in earnest. I don't know if you you didn't raise a hundred and fifty million dollars. I think maybe the PJ tour could work. Maybe.
36:27
But doing this for consumers
36:29
you need to have, like, a brand and you need to have some magic about it. It's kind of like,
36:34
you know, even if you put all of, like, the resources into creating a boy band, like, sometimes that shit just don't work. Even though, like, everything,
36:43
like, everything on paper, it's like, well, we got the the blonde haired kid, we got the, mixed race kid. We got the, the dancer. We got the singer. Like, on paper, this checks out. You know, like, this should work. You know what I mean? We should be popular in Korea by this point. And it's just there's there's just no magic. Right? It it just happens. And then, like, you have some, like, you know, kid who just, like, sings a funny song and makes a joke about, like, wearing a cowboy hat, and he gets hugely famous, like, little Nas X or something. It just shit just happens. Then I think that there's, like, a bit of magic that probably would be missing out when you're with consumers, it's quite challenging to, like, grab their attention. It's like getting a a cat to play with something. It just sometimes it works, sometimes it doesn't.
37:22
Right. So so so I do think that that that's part of it, but there have been instances where people have thrown money at the problem and it actually worked. Right? For every Quibi where you just raise a bunch of money, you go try to do the thing. It doesn't work. For every one of the or every ten of those, there's one where you're like, No. Actually, they did kinda just brute force their way, and I don't know if you remember this, but when TikTok first launched,
37:44
TikTok was lame as hell, dude. TikTok was lame as hell. It was pigeonholed as, like, the lame version of Musically, which was a pretty lame thing. It was like twelve year old lip syncing videos.
37:55
And now TikTok is huge. And what one thing that happened in between, I remember
37:59
meeting a guy, and he was like,
38:01
Yeah. You know, TikTok is gonna spend a billion dollars marketing the app because I was like, dude, there's billboards in San Francisco, like, at bus stops to download TikTok.
38:09
I was like, do they really think this is gonna work? And we had an intern, not an intern. Like, I kind of just like a junior guy working for us. He was in ninth grade, and he worked at our company. And I was like, he he started mentioning TikTok. And I was like, is TikTok actually a thing? He's like,
38:23
yeah. You know, we just kept hearing about it. He kept hearing about it. He kept hearing about it. And then they started just paying all of top YouTubers and vine people to just make TikToks.
38:31
And, like, it works. It eventually
38:33
it just worked. Like, it's like, we all think it's lame, but, like, we all kinda started to use it. And then sure enough, the lame thing fell away too, right, by the end of it. And it, like, you know, became, like, a pretty mainstream thing. Like, TikTok really did brute force. They're like, now they did a bunch of other things. Right? Good product, great algorithm. They did a bunch of other things around. I'm not saying they didn't do that, but it's not like they started with this, like, brand love and authenticity and, like, loyalty and things like that. So let me tell you how this this, Twitch thing played out. So
38:58
I had a hunch that you might be right. So I approached Discord.
39:01
And I said, discord, you wanna buy us? And they're like,
39:05
maybe who are you? And, like, what do you want it? What do you do? And I was like, oh, we do this thing today, but here's what we would do with Discord. We would help you compete with Twitch. You have brand love. Like, this was one of the most loved brands in gaming. It's like you have the brand you have brand love,
39:18
But you don't do this today, we will build the platform and, like, we can use this strategy to do this. And they were like, well, okay. This is kinda like a crazy big pivot idea
39:26
Like, respect the audacity. Who did you email? What role? I don't
39:30
CEO. And you said, hey, CEO. I'm Sean. This is what I do. Kinda come to your office and pitch you. And then you went to the office and told them that, or you told them this all Exactly.
39:38
Exactly. Why did he take your meeting? And he I think of it. At the end of it, his his take was basically like, we will acquire you if you want.
39:46
I don't know if we'll pay the most. So, you know, that's that's I don't know if the deal will happen.
39:51
And I don't know if we would do this, but the fact that you can come in here and whiteboard this on a wall makes me want you to, like, come here and do things. And, That's the biggest
40:00
That's the biggest bullshit artist thing I've ever heard of, and you almost pulled it off. What was the guy like?
40:06
He's amazing. He's a young guy, right? Because he got young nerdy too. Jason citron. Yeah. I was like, I I never met Zuck, but I was like, the way he talked about their product, their strategy, and, like, he's like, calm like, confidence.
40:16
It's a quiet nerdy confidence. I was like,
40:19
oh, I don't wanna compete with this guy, and I see why they've kicked everyone's ass. Like, this is like, this guy's really smart and just really,
40:26
like,
40:27
has a point of view about the way this needs to go
40:30
and, like,
40:32
It's just simple. It's understandable. It's different. Why do you think he turned a thing? I feel like he's gonna actually get on that.
40:40
I think I had gotten a warm intro through his investor, his lead investor. I told his lead investor, Hey, we're thinking about selling. But I I went to him and I was like, Hey, were thinking about selling? Would you do this deal or not? And he was like, well, you should first talk to the Discord guys. And I was like, great. You know, that's exactly what I was hoping for know, because I I just need to create a bidding war of some kind to get the, you know, best deal possible. So can you make that intro? So he just emailed him. It was like,
41:02
you guys should meet or, like, you know, here's his email. He's like, I think he warm introed. You should meet. And I just said, hey, I'd love to come by the office today. And, like,
41:10
you know, forty minutes. I'll sketch out what I have in mind. And, like, you know, you can decide if I'm That is so funny.
41:15
Nuts or if I'm genius or I'm not, said you can decide for your first But he respected it. I don't know what I
41:21
Yeah. He was just like, you know,
41:22
would you like to come, like,
41:24
be one of the, like, c suite type people? Because I don't think we're gonna do that plan that you outlined.
41:29
But I like you. You know, it's like, you know, there's not
41:32
I don't I don't know. We didn't get that. Dude, this is how But she can be a leader. Everyone needs the confidence of a Sean Prairie. This is a great story. This is,
41:41
proof that you can just create shit out of thin air. Value. Yeah. You can create value out in there. This, like, at my last startup, the the best thing I did ultimately in that in that company was
41:52
I did write by the team and the shareholders of, like, at the end, I put my best foot forward to try to get us the most value we could.
41:59
That was, like, you know,
42:00
of all the things that I did, that was the best one. And, like, I tried to do many other things. Well, I tried to find product work with it, tried to scale, tried to hire a great team. And I did some of those okay, some of those poorly The one thing I did great was this this process. Let me let me finish the story here. So then so I'm like, okay. These guys don't wanna do it, but maybe we could still do it. So we start trying to set up a meeting. And I I realized pretty quickly, oh,
42:20
you have to do this as one
42:23
you have to do this as like a coup because it's kind of like a rebellion.
42:27
And that I was like, we need to do two things. We need to wait till people are pissed off about something that Twitch does, which big companies will shoot themselves in the foot. They'll come out with policies. They'll They'll make some statement. They'll change some feature. They'll change the revenue split, and people will get annoyed. I was like, so we need to capitalize on that. And then secondly, we need to get everybody all at once. Know, that movie that's out that people like every everything everywhere all at once. That's how I was like, that's how we need to do this. We can't just get we can't just slowly negotiate one by one. It won't feel like there's enough momentum. And so I was like, we need to do this at Twitch's big conference where all the streamers go to. All the big streamers go because most big streamers, they don't leave their house. They're like they're like me, but they actually have like, you know, they're actually, you know, rich and famous from their streaming, but they can't leave their room. That's like their job. And so they they go on vacation very little. They take very few days off. The one thing they do is they often go to Twitch Con because they can meet their fans and it's the big event. So I was like, we need to do like a dinner the day before the day of war or the day after the conference. Probably the probably the day before. I was like, you know, this might be the worst time because they're gonna be up in, you know, the Twitch kind of like us but it's the only time we get them all in the same room. I was like, and we'll lay out our case, which is basically, look, you guys are gonna make stupid money
43:37
If you all are in, there's no risk to any of you individually because you're if you're all there, this will actually work. And see, like, you don't have to play by Twitch's rules anymore. Like, you have, you know, say in this thing.
43:48
I can't find this client info. Have you heard of HubSpot?
43:52
HubSpot is a CRM platform, so it shares its data ask every application. Every team can stay aligned. No out of sync spreadsheets or dueling databases.
44:01
HubSpot, grow better.
44:04
Did there's this, like, there's this, like, famous meeting that happened in in Atlantic City in, like, nineteen thirties. And that's when they it was all all the mafia guys that got together and, like, al capone and all these guys. And that's like, formed, like, the syndicate or whatever, you know, like, the mob and, like, you know, it's us versus everyone. That that's basically what you did. You have, like, your little mob meeting, and That sounds awesome. No. I I didn't do it. I wanted to do this. I didn't even get there. Why? Because there was one thing that happened. And when we ended up getting acquired by Twitch,
44:31
And it was like, hey, let's grab a drink. We'll celebrate. So we go to the the first time I met him, like, out of out of the office.
44:36
And we go to this barn, you know, we're talking about stuff. And I was just like, you know,
44:40
I was like, what do you think is it? How would somebody beat Twitch?
44:43
He's like, he's like, big. He's like, it's pretty hard. We do have, like, a pretty good business and, like, you know,
44:50
hard to compete against these, like, marketplace once they get big. Do you know about your meeting? But, you know, you could
44:55
no. No. So I go I go I go, we had an idea. I don't know if this would have ever worked. We got very close and we didn't pull the trigger ultimately.
45:02
But I always wondered, like, would this have worked?
45:05
And I told him the idea, he goes,
45:07
because, yeah, we've thought about that. Like, that
45:10
I don't wanna quote him, but, like, the the gist of what he said was, If you were gonna do it, that's the only way to do it.
45:17
But we knew that. And that's why we started signing exclusive contracts with all these guys and specifically exclusive contracts that don't line up. So we would make one expire in June, and another expire in January. Another one expires in the following year. He's like, so that nobody could ever, like, they're they're all off cycle pain all off cycle contracts so that nobody could come and, like, Oh, they're all gonna be funny. Just have thought we'd sign them all right along. Tiny ass detail.
45:44
Tiny detail. Right? And I was like, wow. And then, sure enough, this actually did end up somebody did try to do this. So,
45:50
Microsoft came out with this thing called mixer and they went and they tried to get the top streamers. They gave ninja like, I don't know, some stupid twenty, thirty million dollars to come stream on mixer. He said, yes. He's like, dude, if I'm making four or five on Twitch, and these guys will give me thirty guaranteed,
46:03
to go sit here for two years, Alright. I'll do it. And they tell me, like, this is integrated with the Xbox. It's gonna, like, drive me a bunch of new viewers.
46:10
Cool. And then they tried to get shroud and try to get a bunch of others, but they did it too slowly.
46:15
And so, so this attack did actually end up happening. But that was not a business, didn't it?
46:21
Yeah. Because they couldn't get the critical mass. They couldn't get enough people to say yes.
46:26
But, like, this did happen. Like, the Chinese streaming platforms tried to do it. Like, a whole bunch of people tried to do this against Twitch at the same time. And it twisted a, you know, a fairly good job. Of not only this off cycle contract thing, but also figuring out is crazy. There was, like, this this,
46:40
this, like,
46:42
Theory, which was how many of your favorite streamers need to move before you move? And so they looked at, like, okay, if I'm a viewer, if I spend a hundred minutes of time just watching Sam, and Sam leaves, okay, have a high likelihood of leaving.
46:54
But as long as I can get you to watch, like, four people,
46:57
the odds of all four leaving are very low. And if if one leaves, like, ninety five percent chance to just stay. How about the fact that they probably hired some, like, MIT, like, rocket scientists?
47:07
And he's, like, thinking for years, like, I'm gonna I'm gonna help get Amanda Mars. You know, I'm gonna help. I'm gonna be part of saving the world. The human race I'm just a little small part of this, but I'm helping.
47:20
And he gets his job offer from SpaceX, and it's a hundred and thirty five thousand. And then he gets his job offer from Twitch, and it's, like, hundred and forty thousand. And he's, like,
47:29
yeah, they got free lunch, though.
47:31
Like, you know, like, it's, like, the office is down the street from my house.
47:36
You know, I can do I this this space thing will always be here. You know, like,
47:41
their their office is beautiful.
47:43
Yeah. And and then they take that twitch office and then they spend the next eight years of their lives. And the only point is figuring out how to make it so a streamer can click a button and, like, a cat pops up on their shoulder, like, like, an emoji. You know what I mean? Or it's, like, How do I just make it? So, like, on Monday night football, the first y'all the the down line, the yellow line moves perfectly with, like, the how do I do that? You know, space will always be there though, but, like, how do I get this, like Right. Right. Yeah. I've just imagined someone, like, dedicating their lives to that. That I that sounds horrible to me.
48:18
That is,
48:19
not far from the truth. And in fact, some people
48:22
try to use that to their advantage.
48:25
Like, you know, Steve Jobs did that thing where you're just, like, recruiting John Skilly or whatever he's, you know, are you gonna stop selling sugar water to kids and come, like, help change the world? And,
48:35
Scott Harrison, the CEO of Cherry Water. He's like, I remember he came to silicon valley, he was recruiting for water. And I was like, how do you recruit from, like, Google? You this he was trying to hire somebody from Adobe. I remember. He's like, yeah. She makes four times as much as I'm gonna offer. My Why would she take a, like, a huge pickup like that, like, four x less? He's like, I just gotta hope that she wants to do something that actually matters.
48:56
I was like, well, okay. And he actually did succeed at recruiting a bunch of really interesting people.
49:01
But, yeah, you know, it does happen. Like, when you're at these companies, it's like, what percent of your life
49:07
goes towards, like, being like, you know, can we get, you know, chat
49:12
engagement
49:13
up by point two percent? Like, can we get the, you know, if I add this emoji of this, like, you know, bouncing cat Like, are you thirty four percent more likely to come back next week? Like, you know, there's a lot of life that comes down to you. If you work a big tech company, you're working inside of a slot machine, And you're looking at this, like, person sitting down on the stool, and you're like, can I get another four quarters out of them? Like, what do I need to let let's they make that light flash over there. A a cherries. You get a flash. Yeah. That'll do it. My wife, you know, went to this fancy, Ivy League school. She's this brilliant woman, and She was at Facebook when we started dating. And she was telling me what she do. She's like, I'm a PMM. What's that stand for product marketing manager? And I was like, what's that mean? She's like, oh, well, we just help people
49:57
like, we want more people to use Facebook. I'm like, oh, are you guys, like, the thing that puts, like, the jet above India so they could get free internet access? She's like, oh, no. Not really.
50:07
Well, what do you do? She's like, well, you know, I create, different products to help people to use Facebook. I'm like, okay, but what do you really do? She's like,
50:14
I'm,
50:15
making it so you could put a sticker on your picture and more people will spend just a little bit more time on this app. And I'm like, oh, okay.
50:23
Yeah. You you should quit. Right?
50:25
And, like,
50:26
that's what she quit. She's like, yeah. And Went did something that actually she cared about. But, yeah, I remember hearing about them, like,
50:32
Oh, that's why you went into debt for all these universities. And that's why you did all that was so you can, you know, walk around the Facebook campus for, like, three hours a day and make, like, a sticker of, like, pugene, the cat, or whatever the fuck that thing was called. Do you remember that thing? Pugene or
50:48
what was that thing? It was like a it was like a Japanese cat.
50:52
No. I didn't even start that. It it was called, like, poo. Remember how, Facebook, they they would have all these, like, Japanese cartoons. There was, like, that dog with his tongue hanging out I don't remember. It's the thing. It was like Pugene. It was like a cat that was Asian, and, like, it was like a series of stickers that
51:06
Yeah. It's it's the thing snapchat that that dancing hotdog, which has been seen more than, like, any cartoon or animation ever. They've been seen, like, ten billion times. Like, hundred billion times or something like that. It's like, yeah, this this hot dog is actually more popular than making those. Just like the stupidest ways of time. It reminds me of on that TV show Silicon one of the apps that they said was amazing was nipp alert, and it, alerts you of a wrecked nipples, in your vicinity.
51:30
I'm like, oh, this sticker thing. That's nipp alert. Sounds good.
51:36
Yeah. Honestly, when I was there, when I was, like, I I didn't think it was, like, you know, a waste of sort of time and energy in that sense. Like, I don't know. Maybe I think Twitch is actually okay because Twitch is like It's like this cool subculture,
51:49
word nerds. No one likes us. We finally have a space that we could do this stuff. Facebook, I think is different.
51:55
And I respected the game theory of it. I was like, when this whole, like, contract thing was going down and they were like, you know, how basically, the question of how much should we bid, I was like, don't know. You know, like,
52:06
it's, like, in sports, there's, like, this money ball movement where you're trying to figure out the value of a player. And if you can accurately
52:12
forecast the value of a player. You have an edge in winning in the in the in the league. The same the same thing is true now for all these like big media platforms that are, like, in Twitch case, you know, they were bidding for content. So they're bidding for for this. And, you know, I went and met with people or, like, you know, talk to people who are at Netflix and it's like, hey, how do you decide how much to spend on the production of this or, you know, how do you figure out if it was worth it to spend, you know, whatever a hundred million dollars in house of cards?
52:37
And, like, and you go there and you'll meet, you know, you meet the guy who's doing the same thing. Right? Like, the brilliant data scientist
52:43
whose, like, job is to, like, AB test the thumbnails
52:47
of, you know, like, the the new Garfield movie to figure out which one is gonna lead to higher engagement, like, lower churn. And it's, like, Yeah. You know, your your AB testing thumbnails for for you for for Netflix and YouTube and all this stuff. Like, yeah, that's, like,
53:01
it kind of feels like you know, bringing a gun to a night fight type of thing. Like, you're you're you're
53:07
damn, like, really, this is where all this credit card goes. It's a scale. It's not binary. It's a scale. You know? And so for some companies, it's like, oh, no. This is just way too lame. For others, it's like, this got a little pinch of lame, a little half a cup of lame, But, like, it's mostly pretty cool. Right. You know what I'm saying? Netflix, I actually think that's cool. It's like, oh, I'm giving the world a little bit of entertainment. Facebook, it's like, I'm just making people hate themselves.
53:29
Yeah. The thing that I the way I ended up thinking about it was,
53:33
like,
53:34
do I batter here? Like, if I left,
53:39
Like, who cares?
53:40
I I call this the Jango law. Like, if you remove this block from the Jango tower, tower still there. Okay. I guess that wasn't a key block. Like, you know, sure. We'd love to have it there. It's more of most benefits there, but, like, nah, nobody really cares, believes.
53:52
Like, well, if if I don't really matter here than, like, it's very hard for me to get excited. I mean, that's kind of an ego thing, but it's also, like, an impact thing. Like, if I
54:02
at a startup, like, I can I can just, by myself,
54:05
create a product,
54:07
give value to customers that didn't exist, and I can capture a huge amount of the value? And at a big company,
54:12
I'm neither the key person creating the value nor the key person nor the person who's captures any of the value. Right? Like, your value capture inside of a company is is is fixed. Like, you you get paid, what you get paid in most cases, you know, aside from, like, maybe a bonus that you could get,
54:27
whether your product succeeds or fails, which is why a bunch of products fail or go really slow inside these companies because it doesn't matter. You don't get you don't get a prize if it works. You know, you get you get praise
54:38
And so and and then the other side, which is like, you know, does this matter? And I think there is a counterargument. Like, I talked to, it's got Josh Elman
54:46
and actually even the the chief product officer at Twitch's got Dan. I was like, Dan, why why do you always join, you know, worked at Google, worked at store. He worked at that Twitch. I was like, why are you doing this big company? He's like, have you ever wanted to go to your own? He's like, yeah, but I wanted, like, impact scale.
55:00
And I was like, I was like, oh, that's weird. Like, in my head, it was always if I'm at a small company, I have a bigger impact because I am big relative to the company. He's like, yeah, but that's not how you think about it. Like, Here, if I can improve one product that ten million people use or at Google, you know, a billion people use search,
55:18
you know, every single day. And so if I can make that better, he's like, I created the book search, you know, feature. I was, you know, on the book's team. We created that project So now you could, like, search for books and, like, a bunch of people on earth do that. Not a startup, but it'd be very hard for me to do that. And I was, like, okay. Like, that is the counterpoint is, like,
55:35
If you're if you're working at Apple and you're working on the app store, like, you know, the app store,
55:41
if a billion people use it every single day, I guess, like, making that better reaches a billion people, you know, making their life one percent better or whatever, you know, that that days is higher impact than than at a start up. But it doesn't feel that way. The action doesn't feel the same to me. No. I agree. You wanna do another topic?
55:57
Can I give you a framework that I think is,
56:00
pretty dope that I that I heard? Mhmm.
56:03
So I was talking to somebody about, like, you know,
56:08
I guess I can't really say what I was talking about. But I was talking about something. It's sort of like You know, they'll say the topic of money. Like, you know, should I do this should I do this? It's gonna yield this amount of money or not. And the person was like, well, the way I think about money is,
56:22
You know, because the value of money is
56:25
what can you say no to if you have this money?
56:28
And I was like, What do you mean by that? That's interesting. I started he he actually he didn't even respond. I was like, I in my head, I was like, that's interesting. I've never heard that before. And so, like, I started thinking about it and I go, that's true. Like, people always say, you know, I want financial freedom. I want freedom about, you know, don't care about money. I care about freedom. That's like a common thing you'll hear. And it's like, what does that actually mean? I was like, oh, it's actually not the freedom
56:52
to do something. It's the freedom from having to do something. It's like, what can I say no to? So let me give you kind of like so I started thinking about my own life. I was like, when I had twenty five thousand dollars in my bank I could say no to a really shitty job. Like, I didn't have to go flip burgers or be a janitor because I could I could pay my, like, monthly bill.
57:10
And I could do that for, like, you know, six to twelve months and, like, cool. That means I didn't have to go get a bad job, a shitty job today. Then at, like, a hundred k in the bank, you can say no to, like, a shitty manager.
57:21
It's like, okay, I don't I can't just retire, but I can, like, quit this job, take a gap, and, like, find another job, and I don't feel like there's, like, financial stress in doing that. So hundred k lets me say no to a shitty manager. I was, like, half a million. That's when I could say no to, like, I don't have to work for a couple years. I could just say no to work for a little bit. Temporarily say no to work. Like a six to twelve month thing. Yeah.
57:41
Yeah. I could go for a year. I could try a startup or go trapped backpacking or whatever. Like, I could pursue a passion of some kind. So that's a new thing you could say no to. It's like work for a little while. Then it kinda like, I would say three million
57:54
You can just say no to jobs. Like,
57:56
I'm only gonna work for myself.
57:58
I can bet on myself and and give myself enough time to figure stuff out without having to stress about it. At ten million, I think you just say no to working in general. It's like, like, my money makes enough money. I just don't need to use my time to make money if I don't want to. And then it kinda goes on. And I I think between the way you say no. Well, at, like, I I've been thinking about this as well. At, like, between some number, maybe around a hundred,
58:22
you say no to having to be in one location. So for example,
58:26
right now,
58:27
I rent a place in one location and I own a place in another location. If I had a hundred million dollars, I'd probably own three or four homes, and this is like, Hey, let's just go from place to place to place. I don't have to spend any time organizing a rental or or anything. And then maybe around, like, two or three hundred, it's I'm gonna say no to wasting time at an airport. I'm just we only -- Yes. -- you know, we only fly So I I think it's that, but the numbers are a little bit less. I said at fifty million. I think you could say no to any inconvenience that money can solve. You could. I think you could. But you could fly private at fifty million. You don't have to own the jet, but you could fly private. Sure. For sure. You could hire assistance to do anything you need. You can hire, you know, chefs and drivers and and and, you know, errands and and accountants and anything you don't wanna do, you don't have to do. I talked to
59:12
I talked to a guy there today who owns a jet and he said it it's it's about two and a half million a year,
59:17
in expenses. Right. And he owns it. If you wanna rent it, I think you could go most you can go to a lot of places and spend half a million dollars a year. And if you have fifty million, that's that's doable. But you can't own, like, an eight million dollar house in Brooklyn, and then a three million dollar house in Austin, and then a five million dollar house in LA, but you could own pretty nice shit in those places.
59:37
Right. And so and, you know, like, the top ladders, you you get to a hundred million. And I think you could say no to the way the world world works. You get to change some rules And at a billion, I think you say no to like politicians. You say no to the police. You say you say no to a bunch of people.
59:50
When do you get to a billion? Because
59:52
you have the ability to kind of fight back. You they,
59:56
they kind of there's there's a different level of respect. And so to me, I liked this framework of What does this amount of money allow me to say no to that I want to say no to? Did you, yeah. What would what hourly rate would you say no to right now? For a for a project that you don't wanna do for a one hour phone call, what would you have to accept?
01:00:17
So, like, I think they've I there's, like, what you say, and then there's, like, what you actually like, what the market clearing price actually is. So you would you would right now, I charge two thousand dollars an hour, and I take about two hours a week of phone calls.
01:00:31
Would you do that or not?
01:00:33
So that's the exact borderline. So on GLG, that's, like, what you could the max you can set my rate to is two thousand.
01:00:39
And
01:00:40
if I get a if I get a bid,
01:00:43
and I'm like, this phone call doesn't sound like it's gonna be a lot of fun.
01:00:48
It's, like, right at that borderline where I feel like I kinda should. Like,
01:00:52
for an hour,
01:00:54
I I should. I don't take the calls because I need the money. I take the calls because I guilty saying no.
01:00:59
And so It's the same thing. Right? Like, feeling like I should means
01:01:03
feeling like I wanna say no, but I don't think I should. And therefore, if I say no, I kinda feel like I've made a, you know, I'm guilty. Right? Like What I've done is I've used the app intro and I just Like, for example, I'm flying down to your event, and then I'm flying to LA. I,
01:01:19
I schedule it so I know when I'm gonna be sign the money? Well, I know when I'm gonna be in the Uber. And I just make my availability there. So I'm like, sick. I'll just take this in the Uber, and now I can afford, like, I could justify a two hundred dollar Uber black because I'm making two thousand dollars in this hour. And so I'm gonna be comfortable, and I'll order even early. So if I arrive early at the airport, I get to sit outside of the airport and finish this call So that's kind of how I've been justifying it now. But -- Right. -- it feels weird selling time per hour. And I don't even know if I like that in general.
01:01:48
Yeah. Exactly. So I would say my true answer is if I don't wanna do it right now, I think that the number is something like two or three thousand dollars for an hour. I if I just if I if I don't wanna do it, I actually just don't do it. But if it's like borderline, if I'm not sure if I wanna do it, or I don't think I would like it, but it's not so painful. I think that's my current thing. But I'm I'm actively trying to get away from it. Like,
01:02:10
what was it? Something came up yesterday that was like this. And I was like,
01:02:15
I was by default, I was just gonna say yes. And I was like, should I say yes to this? Let me just, like, recheck what I wanna be saying yes to. Because I think that, you know, one of the most important decisions in your life is what are the things I'm gonna say yes to and what are the things I'm gonna say no to? So there's your default box, which is like, oh, I I obviously say yes and no to these things. Then what are the non obvious things? So it's like,
01:02:35
I wanna be saying yes to things that I know will be fun and help me grow.
01:02:40
But scare me a little or put me out of my comfort zone. Right? So it's like, I know I wanna say yes to that. I know I wanna say yes to,
01:02:47
If my friend is in town, I wanna go pick them up from the airport or if my mom needs to get to the airport, I wanna drive her there. Like, I wanna say yes to tasks that, like,
01:02:55
I don't wanna do, but I actually wanna be the person who does those things. So I'm just, like, I'm deciding consciously. What are the things that are like What what should I be moving into the yes box and what should I be moving into the no box? What's some shit I do today that I should be saying no? Do you have a polite way of saying no to all the inbound, or do you just ignore?
01:03:13
I used to just ignore. And then I realized, like, it's totally fine to just say,
01:03:19
hey. This sounds cool. But,
01:03:22
I just got my hands full. I don't wanna do anything else or like, hey, this, you know,
01:03:28
hey, you know, thanks for reaching out. I don't wanna do any more phone calls that I'm doing right now, but if that changes, I'll let you know. Yeah. And, like, I'll just say something and I think, you know, people a, they just appreciate a response more than a blow off.
01:03:40
And, b, I think there's some level of respect for,
01:03:44
thoughtful emails. Yeah.
01:03:46
For for, you know, somebody just being honest and, like, just saying, look, I I don't, like, I don't wanna do that.
01:03:52
You know, I I've decided I wanna travel less, you know.
01:03:56
So I'm gonna say so I'm saying no to Trump. Dude, I had this guy messaging me saying he wants to come on the pot and I was just like, I ignored it. I ignored it because I hate it when people ask to come on. Because I'm like, dude, why are you gonna make me say no? Like, we I say no to everyone practically, even good friends. So we just say no to most everyone. And this guy, he was like,
01:04:13
I was, hey, or he was like, can I come on? I'm a huge fan, and I just said, like, thanks for reaching out. Like, I didn't even I tried to avoid it. Like, it was quite obvious. And he's like, hey, so can I come on and I go, you know, this isn't a good fit, but I really appreciate you listening? And he was like,
01:04:27
can I get some feedback? I was like, it's just not a good fit. And he goes, okay, but why? And I was like,
01:04:32
okay. Because you're not interesting and you're not that successful.
01:04:35
And,
01:04:36
he was angry at me. And I was like, dude, what what the hell? I mean, I was trying to, like,
01:04:41
you know, make a point of, like, avoiding this topic and being kind, but you if you're gonna ask for feedback, and I'm gonna tell you, you know, what what what it's about, don't get angry. Right.
01:04:52
It's like, well Yeah. I I What's not interesting about it? He said, I go, it just there's, you know, I just don't care about you.
01:04:59
So my my my goldilocks thing here was I was too cold when I just blew people off because they didn't like that. And then they would just stop, like, you know, I I found I would miss opportunities because I wouldn't reply to things. Misopportunities I cared about, in in the long run. Then the too hot was I would just be like, I don't do phone calls. I was like, okay. You know, you're an you're sort of a jerk for just being like, I don't do phone calls or, like, I don't meet with people. I don't know. Or, like, you know, I I don't do this. It's, like, too hard of a rule. And I found that this the sweet spot was somewhere in the middle of just saying,
01:05:29
you know,
01:05:30
hey, thanks. But,
01:05:32
but, you know, I'm trying to do less of this right now. Or or sometimes I'll say, like,
01:05:36
they'll be like, hey, did you wanna do this? I'll be like,
01:05:40
you know, I haven't decided and, you know, like, I don't know. I don't I don't even know what I want yet. So let me get clear on what I want, and then I'll come back if I if I, you know, when I get clear, if I ever get clear on Like, it's not about you. I just don't know exactly what I wanna do right now. And, like, I'll just say, like, something honest like that, and I found that that that tends to work,
01:05:56
a little bit better. Dude, we went from
01:05:59
Hitler to Saudi Arabia to saying no to people. Mental models.
01:06:01
Yeah.
01:06:06
Mental models.
01:06:07
A good pod.
01:06:09
You,
01:06:10
I'm gonna be in LA on
01:06:12
Sunday. You're not coming right.
01:06:15
To LA on Sunday? No. I don't think so. But then I'm gonna see you in what are you going to what are you going to LA? I told you about it. I'm hosting an event there, dude, for the New York event that I'm hosting, we've got, like, thirteen hundred RSVPs.
01:06:26
I'm eager to see how many show up. You gotta cut that down. Right? You can't you can't do it. You're gonna do a thousand person event No. That's how many people said they're coming, but it's free. So, like, maybe half will come.
01:06:36
But we put up ten grand. You gotta do a six hundred fifty person event?
01:06:40
Dude, it's all guys, by the way. It's all guys. I, like, scroll through. It's all dudes.
01:06:46
I can smell that event already. Yeah. It's
01:06:50
fucked up, man. So many chads are gonna be there. And then I'm doing the same thing in LA, and that one has like five or six hundred RSVPs.
01:06:58
I just, you and I were talking about an event and I was, like, kinda, like, actually this is like a toilet decision. And I just wrote it on event right on my phone and just posted it right away and people signed up and they said we're committed. So we're doing that. And then I'm gonna be and then we're gonna go to, the Carolinas for, the thing you're organizing, which everyone's been reaching out to me. Did we talk about it last pod?
01:07:18
Yeah. We've been shit at the end of last pod. Dude, so many people reach it out. They
01:07:22
wanna come
01:07:23
they basically be wanting to come. And I'm like, this isn't no. No. Sorry. It's not my thing. But So so I came up with a I was like, what do we call this? And I was like, I wanna call it Camp MFM.
01:07:36
So it's Camp MFM. And I was like, we could do these, but we could do a bunch of these. You could just do, like, adult summer camps, basically. Great idea.
01:07:42
What is something that's really fun? Because I don't wanna go to something that's, like, like, even this, like, thousand person meet up, like, I'm sure it's cool and there's cool people Well, it serves a different purpose. It's a party versus is, an experience.
01:07:54
Yeah. So I wanna have experiences.
01:07:56
You know, when you were, like, I'm a fucking artist, man. You know, that that's how I have, like, I don't have experience. This is gonna be a good one. Now we gotta come up with another one. Let's go to, like, hope And so some of these will be, like, this one, which is, like, ultra, like, more, like, super exclusive. Right? There's only there was only supposed to be twelve people going. It's expanded to twenty four. And, you know, that's a lot. I wanted it to be more like twelve. But I'm like, there'll be those. And I think we should do some that are for, like, dude, if you can, like, if you know the phrase, you know, we don't do public math, manifest cowboys,
01:08:27
you know, Sam wants to own a lake. Like, if you know the inside jokes of this pod,
01:08:32
then you're that's your admittance into the to this this camp. And I was like, I think we should do these, like, twice a year,
01:08:39
that are just, like, fun and awesome and get people together. Work quarterly. I mean, camp MFM should be the thing. I never wanted to do the work for this,
01:08:46
and neither do you. And so that's, like, you know, one of the challenges. But But it wasn't a lot of work for this one. Was it? Kinda feel like is. This is a lot. Because as soon as I try to do something, I'm like, well, let's make it fucking awesome, Ben. Like, you know, and so, like, all of a sudden, like, for this basketball thing, we got, like, Nike's giving us all, like, like, sneakers, like, from, like, one of their players. And, like, we're getting, like, custom swag. We rented these, like, doe bear b n bs. We got, like, chef. We got, like, all this stuff come together. I was like, well, if we're gonna have good people, let's get, like, some, like, good names in here. Let's get, like, some people were excited to meet.
01:09:17
And then it's all coming together. And, like, but, like, each one of those now, I'm, like, now I want it to be, like, awesome. If we're gonna do it, why not have, like, we, you know, we get experience. We can get a sponsor to say, like, alright, you get a you get three hundred thousand dollars a year to do cool shit, but we get to be there at all the events.
01:09:34
Yeah. Okay. If somebody wants to do, sponsor cam up cam m f m, you could do this. And all the money will go to basically hiring a planner to actually, like, do these things for us. And,
01:09:44
and secondly to,
01:09:45
to, you know, the the venue and logistics of it. Alright. That's a pod I'm out.
00:00 01:10:06