00:00
My wife is, like, insane about this stuff. She has a drawer full of coupons.
00:04
So we went to Costco this weekend because we had twenty dollar off or something like that coupon. So it would still use coupons or coupons.
00:20
Alright. What's going on? This is Sam. Sean's out with some surgery.
00:24
I've been telling people he's getting a nose job. I don't know if that's true, but let's just pretend it is. But anyway, we are doing a quick
00:30
ten or fifteen minute q and a session. I asked some of the listeners and some of my Twitter fans, what type of questions they had
00:38
for for me, and we'll talk about it. Let's get into it. So, alright, what's the, first question? What do we got? Let's start with one that's really timely. You're about to be a dad. Someone's asking, what is top of mind as you become a dad?
00:52
So I'm gonna have a child November one. That's the due date. We'll see a little girl. What?
00:58
So
00:59
In preparation of having this baby, I was, like, freaking out about, like, just the actual,
01:04
like, the physical,
01:05
her physical well-being of raising her. And so I read the of Lewis and Clark because I remember that Saka Juea
01:11
had a kid, like, on that journey or something like that. And so I wanted to read the book. And so it turns out she had a three month old that she carried, like, in a little sack
01:20
across America for two years in, like, you know, in the winter. And,
01:25
that kind of, like, encouraged me, like, I'm not gonna hurt this baby. So I'm not too worried about that. I would say the biggest thing though that I am freaked out about is raising a spoiled kid and raising a kid that's gonna be a drug addict.
01:37
I'm very, like, like, that, like, I I genuinely have, like, a deep fear in me. And so I've been trying to figure out
01:44
How do I, like, in a very healthy way withhold things from her? Like, how do I not give her what she wants? Just in order to instill some types of grit because this sounds kinda douchey, but I can give her anything she wants. Like, in terms of, like, physical stuff,
01:59
And I'm really freaking out about how do I stay strong and not give her what she wants in order to create grit and how do I make sure that she's not spoiled and works hard but my biggest fear is raising, like, a kid who
02:12
is freaking out over that, or or or who, like, just It feels like she doesn't need to work. And so
02:19
my current thinking, this has not been settled, but my thinking, this just me, not my family, me,
02:25
is the only thing that I'll pay for is
02:28
free tuition
02:30
and free medical for life. And beyond that, give her nothing.
02:34
That's kind of, like, my current thinking.
02:38
That's what I had growing up. My parents paid for my school, and I never had to worry about getting braces or anything like that. And that's kinda, like, where I am now. I read the Titan by John Rockefeller, and he was the richest person in the world, and his wife has this famous quote where she says something like
02:56
The biggest joy that I have in life right now is withholding
03:00
from my children things that they want because I know it's gonna make them stronger.
03:05
And I'm kind of in that camp at the moment on how to do that, but I,
03:09
I don't feel very confident on the right way that I'm gonna do that. But my fear is the outcome of a drug addicted
03:16
indulgent
03:17
child who won't work hard. That that's my biggest fear at the moment. And so I'm preparing
03:23
by, like, getting my mind right on how to, like, withhold things from her and not given because I do give in to a lot of things.
03:29
Is that a good answer? You have kids in my in my
03:33
I'm I'm a very withholding mother, so I totally get. And speaking of you being effing This is a next question that I personally am curious about.
03:42
It's what's the biggest difference in your lifestyle now that you're effing rich?
03:48
I
03:49
have nothing to do with picking these questions. I just wanna say that. I hate talking I I don't like that topic, but I will discuss it. So
03:57
Basically, before I sold my first company, I
04:00
my four years of salary leading up to it was twenty thousand a year, twenty thousand a year, I think I paid myself a hundred and fifty thousand a year. And then the last year, I think I paid myself three hundred fifty thousand dollars a year. So for the first while,
04:14
I didn't have a lot of money. I was I was
04:17
I I didn't have much. And then all of a sudden I sold a business, and I I had enough.
04:23
At first,
04:24
I did
04:26
something that I advise everyone not to do, which is I bought a few things. I bought some real estate. I think that I bought a fancy car. I think that
04:36
that brings close to no happiness,
04:38
it might be one of those things that you have to go through. In order to,
04:43
to truly appreciate.
04:45
But I think that if you do have a windfall,
04:47
you likely shouldn't buy anything crazy fancy for the first year or two and just get used to it.
04:53
But I've also learned there's this, like,
04:56
story about a,
04:58
the study about these people who studied the amputees,
05:01
and they found that after six months, the level of happiness went back to where they were when they had both legs. So you you get hurt, you lose your leg, you're bummed for a little while. After six months, you go right back to feeling as good as you did with two legs.
05:16
That kinda happens,
05:18
when I think when you make some money.
05:20
But the biggest thing that it did was not what it could purchase you, but the biggest change is my confidence
05:26
My confidence went through the roof. I'm incredibly confident in my ability to start something and to see it through to be a success.
05:34
I don't think that I have the confidence where I think everything I'm gonna do is is gonna be a success. I think I still have paranoia that I'm gonna lose everything, and I still have massive fears about going broke.
05:44
That is something that my therapist and I are working through still.
05:49
But it hasn't changed significantly.
05:51
I think that someone had asked a question about monthly expenses. Before I sold, I think I was spending anywhere between ten and fifteen thousand dollars a month. My apartment at the time was four thousand dollars a month. I thought that was astronomical.
06:05
I had a girlfriend. My wife now, we live together. So it was two thousand each. And I was like, that is insane. Two thousand dollars in rent. I can that is just like
06:15
that's
06:16
evil, I thought.
06:18
Now when I rent the place, it's a bit more. I, you know, ten or twelve or thirteen thousand. Sometimes when I go to, New York for the summer. And
06:28
so I increased my rent price, my home that I live in in Austin,
06:34
I paid nine hundred thousand dollars for it. So my monthly
06:39
or my monthly mortgage and taxes, I think it's
06:42
five thousand or or six thousand somewhere in between that with taxes.
06:47
And so I think I increased my spend from, like, ten to fifteen a month.
06:51
To, like, twenty to twenty five thousand a month, maybe twenty thousand a month when I'm not in New York. So I don't spend what I is a significant amount of money. I don't have any car payments. I have two cars, a Tesla, and a Mercedes. Those are paid off.
07:04
I have a cleaning lady who comes once a week. That's a hundred and twenty dollars a week.
07:10
I do some health stuff. So I have a fancy gym, and I go to fancy doctors. Collectively, that's a thousand dollars a month.
07:17
I don't own any jewelry.
07:19
I'm I wear I'm wearing a fresh clean tee. It's a ten dollar t shirt. I wear those constantly.
07:24
So I don't buy a lot of fancy things. So my burn, I think, is relatively low.
07:29
When I go out to eat, I don't look at prices. And when I go to Whole Foods, I buy the fanciest stuff. And that's basically
07:36
besides that, I budget everything else out. And so, like,
07:41
I have,
07:42
my wife is, like, insane about this stuff. She has a drawer full of coupons.
07:46
So we went to Costco this weekend because we had, twenty dollar off or something like that coupon. So it would still use coupons or coupons.
07:55
But
07:56
it has not changed significantly.
07:58
I guess one significant thing,
08:01
I hate flying. I do not like to fly at all. So typically, if I have to go somewhere, even if it's, like, twelve hours away, I tend to drive. I do not like to fly. When I fly now, I fly business class,
08:12
and so that makes a three hundred dollar flight eight hundred dollars, something like that.
08:17
But
08:18
My increased expenses. Rent went up.
08:23
Business class, but I don't fly often.
08:26
And then my home doesn't have fancy furnishing. My whole house costs thirty thousand dollars to furnish.
08:32
So it hasn't really changed significantly other than my confidence. My has changed significantly.
08:38
The idea of, like, creating something from nothing
08:41
that changed significantly.
08:45
How was that? Did that answer those two questions?
08:47
Love loved every minute of it. So now you can get out of the hot seat on your personal life, and I'm gonna
08:54
throw to you the night. This was the most liked question.
08:57
So
08:58
what were your alternative business ideas if you didn't do Hampton?
09:03
So I,
09:06
I'm I think I mentioned this last podcast. There's this thing called Eiki Guy that I'm totally bought into. I'm very fascinated with Japanese culture. Japan has this, like, this philosophy where I think I said it last time it was, like, a venn diagram of, like, the world wants, what the world wants to pay for, what you're good at, what you love doing. I try to find something in the middle. One thing that I'm obsessed about is data and numbers. I really am,
09:28
like, I
09:30
If you search if you go to my personal blog, which don't judge. I started when I was twenty one, and I quit blogging there, but I used to have this document called the CEO document,
09:41
and I tracked hundreds and hundreds of people. I read lots of biographies,
09:45
and I tracked when they're born,
09:48
when they started their apprenticeship,
09:50
when they found success,
09:53
and then, like, what the success was. And I made these, like, in-depth databases. I'm obsessed with databases.
09:59
I'm obsessed with researching things. So I have hundreds of page pages of my notion document where I deacon how different companies work. So I thought about creating a research company or a database company.
10:11
The the the reason I didn't start it,
10:14
It's because I couldn't find an appropriate problem to solve for. So I have all these databases of information, and I like to analyze them and figure out what they mean. But I couldn't find a good use case, or I couldn't find a reason why people would pay money for it other than it's interesting.
10:29
But I sought out, like, for six months, like, different companies in the space, and I couldn't figure out
10:36
the right, like, go to market strategy. So I wanted to start a database company or a research company because I love it. I thought about starting a media company.
10:43
I do have a non compete, so I can't start, like, a business news email
10:48
for another
10:49
one year, I think.
10:51
And so I couldn't do that. And so I kinda fell into Hampton because I thought it was it was perfect in my little Eaky guy. It was like, what I'm good at, what the world wants. But I was really obsessed with research businesses. We just had Jason Yanoitz on the pod. This episode will go live, but he came,
11:08
the episode before this, and I asked him a lot about research businesses. I think they could be really big. I also think that there's not a lot of, like, young ish entrepreneurs attacking that space because it's a pretty stodgy old space that hasn't had a significant amount of innovation, and I'm very, but I'm very fascinated by it. So research and database businesses is what I wanted to do. One of my favorite examples is CB Insights. I love CB Insights. I love Pitchbook. I love those companies, and I wanted to build something like that. Alright. I gotta tell you about one thing. That's one of the great joys of my life. And I'm not a cars guy, and I'm not watch guy, but there's one thing that gives me a lot of joy. And that is having a virtual assistant.
11:43
You know, here's the scenario. I'm running my companies. And even though I'm supposed to be this, CEO,
11:48
We all know. I spend twenty thirty percent of my time just doing random bullshit stuff that is not high value, but it's just tedious. The stuff that has to get done, But it's not creativity. It doesn't require me. And it doesn't add a bunch of value to the business. It's just stuff. Just stuff that had us to get done. And so that stuff is what a virtual assistant does. Like, just this week alone, you know, I lose my wallet. So she goes to the DMV website, fills out a bunch of forms, gets me a new license. Or, you know, every morning. People have their morning coffee. I have my morning metrics, and my morning metrics are basically all the business metrics that I care about compiled.
12:20
She goes, she finds them for all the different sources, puts it in Excel. She takes a screenshot, texts it to me so that when I wake up in the morning, I don't go on Twitter or check my email. I'm looking at what are what are the metrics at and what do I need to do? I'm just focused on the right things. So having a virtual assistant is a no brainer, whether it's travel booking, email inbox, or just knocking stuff off your personal to do list that would have just lingered there forever.
12:42
I think it's a no brainer. If you're a business owner, you should definitely do it. I I think one of the best ways to find a assistant is sheppard. So go to support shepherd dot com. You know, I pay my assistant, I think, eight dollars an hour. Like that. That's double what she was making in her previous job. So it's a win for her. And for me, it's super affordable. It's something that, you know, you don't need to have the biggest business ever be the biggest big shot in order to afford it. So it's amazing. I now do this for my COO and my CMO too. Like, I just give them assistance without them even asking because I know it makes them more productive That's it does that for me. So, of course, it's gonna do that for them too. So go to support shopper dot com, check them out, get an assistant and tell them I sent you. They'll take good care if you could do that. So supportchever dot com, check it out.
13:24
Our software is the worst. Have you heard of HubSpot?
13:27
See, most CRMs are a cobbled together mess, but HubSpot is easy to adopt and actually looks gorgeous. I think I love our new CRM. Our software is the best. HubSpot
13:37
grow better.
13:39
Okay. This next question, I love, although it's painful for me even to ask it because it's really it it cuts deep.
13:46
This comes from OAR. What was the most painful thing someone told you and how did it change you?
13:54
Okay.
13:55
I saw that question,
13:57
and I was trying to think of a good answer. My answer is boring.
14:01
So my best friend, his name is Neville Madora.
14:04
I met him because he had a great blog on copywriting, and one year in two thousand and thirteen, I think it was, fourteen.
14:12
I called and emailed them. And I said, Neville, my name is Sam. I'm gonna host this conference,
14:17
and I want you to come speak, and I'm gonna pay for your flight, and I'm gonna take care of your accommodation. Well, the conference was really, like, fifteen of my friends hanging out talking, and I bought him a two hundred fifty dollar Southwest flight, and he slept on my couch.
14:29
And we became best friends after that. And when he was there at my in my couch,
14:35
I gave him a towel to, like, take a shower, and it was, like, a moldy towel. And he was, like, dude, you are disgusting.
14:42
You're acting like this bachelor twenty year old, which you are, but, like, you need to be a man. You need to get your act together. This is disgusting.
14:48
And I remember that changed my life. When he and so I, like, got together some of my, like,
14:55
my,
14:56
my domestic
14:57
skill set. I also, like, was like, I need to act like a man. I need to dress better. I need to, like,
15:02
be more appropriate. Like, I gotta get I gotta get my act together. So that helped me a ton. He also Nvelle does this a lot. He criticizes me all the time, but in a really nice way where he's like, I'm gonna tell you this because I love you, but I'm gonna give you feedback. And another thing was when I met this woman that he was, like, dating or maybe one of his friends. I I think it was one of his friends. He was, like, you're asking way too many intense questions the first time you meet someone. You need to chill and quit talking about work. And that was, like, painful to hear because that was my identity. And so that changed how I
15:32
had conversations. And so he's done a good job. Neville's
15:35
a six years older than me. So he's kind of done a good job of, like, being my brother a little bit and, like, teaching me how to, like, act like a man So that was, like, a good thing. I remember when I started my first company, the hustle,
15:46
and this CEO of a large
15:49
multibillion dollar media startup that everyone knows. I'm not gonna call him out. He told me, I go, I'm gonna start this thing called the hustle. I think it could become a huge thing.
15:59
He said, this will never make more than a million dollars a year. Just come and join my company. And I was so hurt because I admired this guy so much and my admiration
16:10
for him turned to hatred,
16:12
not really hatred, but, like, rage. I was, like,
16:15
I wanna, like,
16:17
I wanna destroy you now.
16:19
And the reason I thought that was because I was so hurt. My feelings were so hurt that this guy that I admire just totally shit on me, and he was wrong, but I believed him for, like, six months. I, like, doubted everything. I was, like, this is stupid. But he told me that he won't even remember saying this this guy, by the way. He probably made he thought it was like an offhanded comment or
16:36
something like that, but it hurt my feelings so badly that I remember that,
16:41
like, terribly. And then last thing was, like, anytime a girlfriend has ever, like, broken up with me,
16:47
that, like, that has always, like, stung me. I'll I'll I'll I'll remember that for for decades like, I'm still, like, trying to, like, prove them wrong. So, like, I'm pretty sensitive,
16:57
to, like, rejection.
16:58
Yeah. For sure, the most painful Moments always come from high school. I think everyone can agree with that. Yeah. Like, high school and college girlfriends, where you're still trying to figure out yourself a little bit and they, like, and you get and and and they're right. Like, you're not doing things the right way, but and they're rejecting you. It's like, it's the most painful thing ever.
17:16
Girls are so brutal.
17:18
Okay. This next question is from Caitlyn.
17:20
What is one trendy business model,
17:23
you think is overhyped?
17:27
I think the NFT and web three stuff
17:30
is just complete nonsense. I think it's inferior entrepreneurs
17:34
slapping their web three name on crap that no one wants and hoping that it's gonna work. So but everyone knows that now.
17:42
I think
17:44
What's overhyped?
17:46
I think starting a newsletter is really popular right now. Most people don't realize it is a treadmill. It is very challenging to create new content. Just like this podcast. It's hard. This is a hard job. I like it because I think I'm good at it or I'm decent, but it is very challenging. Any type of content business very, very, very, very hard
18:04
to do for, like, two or three years.
18:06
In newsletter, the the newsletter space,
18:09
significantly different than when I started. It is way more competitive, way more challenging.
18:15
So I think that is a bit overhyped,
18:17
although I would still start one because I like it. I think that most of the people in the space
18:21
are not gonna work, and it's pretty bad. Their content stinks because it's just a rinse and repeat of what already has existed. So I think that's quite overhyped. I would say getting popular on the internet
18:32
can be awesome because
18:34
you get an audience
18:36
But,
18:37
in general, I think that creating businesses based off your or, like, getting popular on Twitter and and Instagram and things like that. I think it's incredibly empty feeling for most people, and I think it's complete nonsense and your time would be spent building a company or
18:52
focusing on your family than getting popular on social media.
18:56
I think it's empty. I think that it's, like, small boy stuff. I just and I find it incredibly uninteresting.
19:02
And there's many days that I regret trying to, like, become popular on the Internet.
19:07
Okay. Are you up to do one more? We'll do one more. Okay. This one comes from Jared Siedle. He is
19:15
moving to San Francisco. He's curious about this idea of proximity to power So he's moving to SF with the clear intention to start a company and surround himself with high achievers.
19:25
His question is, what did you do when you arrived?
19:29
Or what did Sean do when he arrived in SF to start laying the foundation to meet interesting people and business builders?
19:36
Moving to a big city when you are young and have no family, I think, is absolutely awesome. My time, I lived in SF for eight years,
19:45
I got angry at the government, and I left because it was dangerous.
19:49
Otherwise, I would still be there in a heartbeat. I have no problem paying the high taxes in order to live there. I think it's a beautiful place. I would still even go back there today if my wife wanted to maybe. So one hundred percent worth it. I loved it.
20:01
What I did when I got there
20:03
was I went to meetup dot com, and I went to crazy amounts of meetups.
20:08
I also did, I started an event. So I created
20:12
it's so funny. Seva Kozitski. So Seva is one of my best friends. Seva has a business that does, like, close to a hundred million a year in revenue. We pat him on the pod. You guys maybe have heard of him.
20:23
He so I created this book club called the anti MBA, and the idea was we're gonna read one book per month
20:30
And we're gonna break it up into quarters. So week one, we're gonna read a quarter and discuss it week two, the the second half, whatever.
20:37
And I would have an expert come in on the book's topic, and we would just shoot the shit
20:43
with, like, thirty or twenty people on this book.
20:45
And I,
20:47
posted ads on craigslist
20:49
on meetup dot com.
20:51
And where else? I think I bought an ad in the newspaper for, like, two hundred dollars Like, I just posted these ads, and Cieva was one of the people who replied.
20:58
And after doing that for every week for about a year, I had an email list of, like, two thousand people.
21:04
Who were, like, following this book club online because I would write out my notes from the the meeting.
21:10
And doing that book club changed my life. So I just hosted a book club, and it was Awesome. It was so good. It was, such a fun way to meet interesting people.
21:19
And that so that's what I did in order to meet interesting people is we just read cool books and we brainstorm and talked about them. Most people, by the way, didn't even read the book. They just wanted to talk about it because I wrote notes ahead of time on like, I wrote a summary on the book, So that changed my life. The way that I met Sean
21:35
was I had this event called Husslkhan,
21:38
and there was this article in TechCrunch
21:40
about monkey inferno, which was this incubator that Sean ran. And I saw a picture of the his office, and it was magnificent.
21:48
And I cold email Sean, and I said, hey, man.
21:51
I'm hosting this event. Can I host the pre dinner at your office? We'll we'll take care of all the food. I'll even hire someone to clean it up. But can I just, like, host it at your sick office in an exchange? You can come to the dinner and meet all these wonderful speakers and attendees. And he said, yes. And that's how I met Sean.
22:08
And so I think what I did, what I think more people should do,
22:12
is he just reach out to tons of people. And I would say don't even reach out to, like, ballers or people who are, like, ahead of you. Find other peers who seem like they got the juice, who got the the charisma or who have who seem like they're going someplace. Like, for me, it was Ryan Hoover. Ryan Hoover started this thing called product hunt. We were buddies before he even started it. And I've got lots of friends that are now incredibly successful,
22:33
where we were just all, like, losers who were ambitious, but we had nothing. And we and I did a good job of, like, cold emailing those types of people, and we hung out a lot. And we just I I became wonderful friends with them, and it was through my book club. It was cold emailing.
22:48
Twitter wasn't popular. I didn't even have a Twitter back then. So I just cold emailed tons of people,
22:53
and I would highly recommend that's what you do. Is find peers who you think are gonna go places, and you guys all try to succeed together and you try to be pretty selfless in the sense of, like,
23:03
like, when I hosted my events, they all volunteered to help me out. When they needed something, I helped them. And so just, like, succeeding together, I think, was a really big deal. Now the issue is that that takes, like, ten years or fifteen years, but it's worth it. And you're not doing it just because someone's gonna be successful. Like, I had friends who are artists, and, like, they financially weren't successful, but it was just people who were, like, kicking their dent in the universe, and that was addicting to be around that.
23:28
And we all kinda did it together. And that's what what I did. I I had a book club. The anti MBA is what it was called because I was so jealous of the I I didn't go to a fancy school. Remember when I moved to San Francisco, I took a bus out or a train out to Stanford because I was like, I wanna see what this shit's about. What's what's so special about this place? And I felt like in awe, and I was, like, so jealous that I didn't know what Stanford even was when I was in high school.
23:51
I was like, I need to create my own Stanford because I'm jealous of all these people that went here. And so that was kinda the idea. It was the anti MBA. It was free, and I organized it. So I would suggest book clubs meetup dot com. I don't know. Is meetup dot com still a thing? I bet you it is. Right now when I was in San Francisco, I went there, like,
24:08
six months ago, there was and someone
24:11
someone, like, recognized me and they go, Sam, I love the pod. We're hosting a AI meetup and a hackathon right now. Do you wanna come? And my wife and I were, like, yeah, let's go. And so we just, like, go you got a car here, and we were, like, at the farmer's market. And they're, like, yeah, I was like, alright. Come on. We're I'm going with you. And so we went to this guy's meetup, and it was magical. I met all these AI people who I knew nothing about, and it was magical to be in those meetups at these places where you have, like,
24:36
a homogeneous group of people working on something that is not mainstream. It felt really magical. So I I would say go to those events.
24:44
Alright. Awesome book club. Another thing that you and Oprah have in common. I love it. Yes. We
24:51
have a lot in common. Me and Oprah.
24:53
So there were a lot of other questions we didn't get too, but we'll do another one
24:58
a little later. Let me know if you guys like this stuff. Peace.
00:00 25:22