00:00
And his verification is for a hundred million dollars liquid plus.
00:04
And so he the guy has over a hundred million dollars.
00:07
And he did it all through two or three of these apps. And I believe with close to no employees, and he did it over around, like, eight or ten years.
00:23
What up? What up?
00:24
They told us to do,
00:26
intros now
00:27
of the podcast. So this is my first million
00:30
podcast where,
00:32
we tell you hundred good ideas, half are good, half are bad, but it's on you to figure out which ones. This is my first million,
00:39
where I make fun of Sam, about how he talks. He makes fun of me about how I look. And in between, we squeeze in a few business ideas. Let's see. What else? What else we got for him? And supposedly,
00:48
we're supposed to be successful people. So it's like the reviews people say they say it's kinda like we're just sitting at a bar with a bunch of our
00:56
successful friends. Dare, I say, I hate this word -- Right. -- multi millionaire friends,
01:01
and because here what they talk about, but that
01:04
Just a couple of deca millionaires hanging out on the spot.
01:10
Dude,
01:11
Yeah. How are you supposed to brag about that? You know, what I learned from from my last successful venture, I now take those learnings to the podcast.
01:21
Can I just say that regardless of the deca millionaire nonsense,
01:25
I did something a few weeks ago that I think was amazing?
01:29
I bought a sixty dollar tattoo gun on Amazon,
01:33
and I let my wife give me a hand tattoo instead of wearing a wedding ring
01:39
Oh, wow. Totally worth it.
01:42
Let let me be the judge. Can you bring that a little closer here? What's what is it? It's just an x
01:48
Can you see it? Is it
01:50
Right. Like an that's not focusing. Okay. It's an x,
01:54
like, you know It's an infected x, but it's an x. You know, like, where where something was there, then it's, like, dead. And now you've, like, put an x there. That's kind of the the vibe you're going for or what. Yeah. Or, like, you know, triple x on, like, a moonshine whiskey jug.
02:06
Yeah. Something like that.
02:10
And she wanted to do this or you wanna do this? She seems more sensible than you. So I don't know. Yeah. Of course, she don't wanna do it. I just said, Sarah, I bought this tattoo guide, sit down right now or otherwise, I'm just gonna do it myself.
02:21
Okay, threats. And I handed in orange. And threats.
02:25
Yeah. Like, it literally I set it up and with the two minutes it was done, I handed her an orange. I go right next on that orange. Great. And I'll do that on my fist.
02:33
People always ask us, what's the secret to being a decker millionaire? And we tell them
02:38
it's threats.
02:40
You gotta threaten your your business partners. Your marital partners. You've gotta threaten all your partners. Actually, Sam, you've you you kinda do use this sort of, like,
02:50
I wouldn't call it threat, but as they say, it's always sunny.
02:54
It's the implication
02:55
of danger.
02:56
Yeah. I feel like you you do use this imp the the implication
03:00
of things going wrong. Am I am I right about that? What's an example?
03:04
In your management style, like, you know, you're trying to get the team motivated
03:08
You have two paths you could go down. You could you could start with why and tell them why you're so excited about this, why this is good for them.
03:15
Or
03:17
You could just hit them with a with a solid threat with the implication of of of of things not going so well if if we don't do x. Which way do you go?
03:25
I like the second one. I'm more of a guy who will do like,
03:30
if if I can alright. Tell me how you are. If you can make a million dollars or not lose a million dollars, which one are you more motivated to do? For me, not lose a million dollars. And I think for you the same. Same. Absolutely safe. It's not to do something. So I love setting my life up, and I do this all the time with, like, my wife and stuff. I'd be like, Oh, shit. Like, I already booked it. Like, we already we're we gotta do this thing. Or,
03:55
you know, I always set stuff up that if I don't do it, There's consequences.
03:59
That's the way to live, man. And I used to do it with my employees all the time. And you know what? They always said they hated it. And then whenever they leave and quit,
04:07
eventually,
04:08
they'll say something like, yeah, but I did so much cool shit and we actually got a lot of stuff done. So I think people actually like it. Right. Yeah. They tell their therapist as they to spend years recovering from you.
04:19
Yeah. I guess so. Dude, can we do you have a bunch of topics?
04:23
I got a few. Yeah. I got a couple too. Can I start on one that, like, I think
04:28
it's blowing my mind? And I I so, yeah, basically, yesterday, I went on a long walk. I did I went on, like, a ten mile walk. You ever go on a long walk?
04:38
Go on a walk. I got a dog. Yeah. I just went on a really long walk, and I went walked around all these fancy neighborhoods in Brooklyn.
04:44
And I started, you know, I do what what people do. I pull up Zillow as I'm walking, and I'm like, you know, I wonder what it's like to live here. And the houses that I like, what I usually will do is I see a house and I go, oh, I would like to live there, and I pull it up and it's eight million dollars.
04:59
And eight million dollars, that's one number, but then you actually look at how much money you need to come up on at closing, and then you look at how much money you need to, spend each and every month on the mortgage and on your interests and on maintenance and things like that.
05:12
And I started thinking,
05:15
I think I'm gonna live over here in Brooklyn, and I wanted to, like, map out how much money I would expect, I would spend to live the lifestyle I want to spend. And it is astronomical.
05:26
And I wanted to talk about some some of those expenses.
05:29
You wanna talk about some how much walk me through it. Okay. So listen to this. First of all, I'm gonna talk about the life that I'm gonna live when I moved to Brooklyn. And all the listeners, there's gonna be a bunch of them that's gonna say, oh, Sam, no one needs an eight million dollar house. Yeah. I get it. You know, like, all I need is, like, a bucket of water and, like, some apples and, like, a pair of crocs, and I'm happy. But this is the life that I choose to live. So, like, I get it. No one needs this, but I'm picking this. So get off my back on this hypothetical case that might be a reality in two years. I just gotta get that out of the way. But in terms of hypotheticals,
06:02
it's not entirely hypothetical because I went and talked to a couple of friends who do this. But listen to this shit.
06:07
So I found a home that I wanted to buy, and I actually linked to it on the the MBD Master doc. Okay. So it's a street ease is on street easy. It's a nice house. Okay. It's only three thousand square feet though, but it's a Brownstone in my favorite neighborhood of Cabill Hill. It's five million dollars. I actually think the range of things I want between five and eight, but this one I just found it was available. It's five million dollars, which basically means I gotta come up with one point one million dollars as my down payment I'm gonna spend around twenty thousand dollars a month in mortgage and interests and and things like that, not including maintenance is gonna be more expensive. It's gonna be probably another two or three thousand dollars a month.
06:45
Then
06:47
I think it would probably cost on the low end, fifty thousand on the middle only end of like a hundred and fifty thousand dollars to furnish it the way I would like to furnish it. Right? Have you ever furnished a house?
06:58
Yeah. Yeah. It depends. If you go like like my wife, she's like, oh, yeah. I'm like, what do you like? She's like restoration hardware. I'm like, geez. Like, you know, every item in the stores, like, you know, five thousand to ten thousand dollars.
07:11
And so, you know, you just add that up per room you're putting in, like, twenty to twenty five grand worth of stuff per per room, in the house, which is pretty nuts. Yeah. Totally. So, like, a hundred fifty k is just kinda what it would cost. If you wanna go that route, if you wanna go west m, west elm, then, yeah, you're you can maybe get it done for a hundred seventy five thousand, but it it's quite expensive.
07:30
Then
07:31
If I'm gonna get this fat house, I'm getting it because I have two kids or a couple kids. So I need my forty thousand dollar, fifty thousand dollar a year nanny. I imagine I would spend around thirty thousand dollars a year in food, and so basically it comes up to where I think I'm spending
07:46
six hundred to seven hundred thousand dollars a year to live the life I wanna live in Brooklyn. But
07:53
Here's the kicker. If you're making over a million dollars a year in Brooklyn or or for sure in Manhattan, even more than this, half of your money goes away to taxes.
08:04
So basically if I'm spending around six hundred thousand dollars a year, I need to make one point two million dollars
08:11
just to cover my my monthly number. Break even. Just to break even. And if I if it's and and I I talked to two friends, one friend who lives in Brooklyn, He told me that he spends around five hundred thousand dollars a year. And then another friend that also lives nearby, and he told me he spends eight hundred thousand dollars a year. And he spent me He sent me his list. But he goes, I have an, an additional house in North, Rhode Island. But if you take that, vacation home, we are spending around six fifty thousand dollars a year. So to to live like this, it's crazy.
08:43
And when you go and walk on these streets,
08:46
You know, there's a house every block. If you go in Manhattan, there's this fancy apartment every block. How on earth do you think people so many people afford this?
08:56
It's crazy. Like, when you actually think about the logistics, right? Well,
08:59
well, a lot of the people who own these homes,
09:02
they own them
09:04
before they were worth five million dollars. So go look at the, you know, the Zillow history of this thing. Ten years ago, what was this home worth? You know, I'm guessing it's less than you know, less than half this, maybe thirty five percent of this price ten years ago, thirty percent.
09:17
And so you're what you're talking about here is, like, you know, a home that what that they bought in, their basis
09:23
is a million, a million and a half dollars, something like that instead of five. So now the monthly payment is less. And now the property taxes are less. And so, you know, you cut out your biggest expense in this case,
09:35
you you trim that down. So I think that's that's the answer for how a lot of people have this is inheritance,
09:40
or,
09:41
or buying in, you know, twenty years ago, fifteen years ago
09:45
when these were worth a fraction of what they're worth today, And so that's why they can afford to kind of live above their weight. Well, so I had four takeaways when I started thinking about this. The first was that there's a story behind everything. So all these people, like, a simpleton like me is like, oh, you just gotta earn this much money and they did it by starting a business. It's like, no. That's not the reality. And Zack Crockett, who works at the hustle, He, basically, we're talking about this, and he was gonna write a story on this. And he said that he researched a bunch of these homes. And what he did was he,
10:12
for all the five million dollar brown or for a bunch of five million dollar brown. So it's an NYC. He used a tool called Melissa, and he looked up the property records.
10:19
Then he googled the names,
10:22
of each person who quote owned it, and then he, like, looked at their family records, which he is all through just sleuthing and, like, look at their stuff. And he found out that a bunch of them, like, seven out of ten of them were like teachers or artists or
10:36
or
10:36
or a professor, things that you basically, like, you could earn a bunch of money, but you're not earning enough money to buy this home. And what he surmised and came to the conclusion was, like, they just get a lot of help. And so, like, it's hard to own a five million dollar Brownstone when you're a reporter at the New York Post. There's something, like, you know,
10:52
hundred and twenty thousand dollar a year job. So I think there's a story behind everything. The second thing is, I think you just had to earn a lot of money. Dude, listen to this. If you earn
11:03
Uh-uh, one hang on.
11:05
Hang on.
11:06
That was a
11:07
killer insight.
11:09
What? The
11:10
you gotta earn a lot of money?
11:12
Yeah. Where did you come up with that? You gotta earn a lot of money, but listen. Let's let's put the math on this. How many How many years do you think you need to how long will it take you to save ten million dollars if you lived in New York? To save ten million dollars?
11:25
Yeah.
11:26
To get a portfolio of ten million dollars.
11:30
I have no idea. I don't know. Let's say twenty years.
11:33
Okay. So if you make one point five million dollars and you're spending around twenty five thousand dollars a month in living expenses, it's gonna take you around fifteen years to be able to save
11:44
ten million dollars, which is pretty crazy. Now you've gotta figure out how to earn at least a million and a half for ten years
11:51
or for thirteen years, which is, like, it that in itself is impossible or not impossible, very, very, very challenging. And so the hold on. Your fur your first thing was, like, these people are teachers and artists, and you said they gotta have some help. You're talking about, like, family help. You're not talking about, like, there's nothing else. Right? You're saying you have rich family.
12:08
Yeah.
12:09
Okay. Alright. Sorry. I carry on. I think that I think just having a re like, I underestimated that. When I think about this, I'm like, whose parents would give them two million dollars for a down payment on a home. And I think the answer to that is actually a lot.
12:24
I can I I can't imagine that, but the like, that that was hard for me to because, you know, I don't fucking know that? My mom and dad, like, the best gift they ever gave me was turned twenty one that gave me a thousand dollars, and that was, like, last birthday present I ever got. I I don't even think it's a down payment. It's okay. You're a teacher. Great. Your down payment is covered. Where are you coming up with twenty five k a month of your monthly monthly payment just for your home. Like, yeah. I think it allows. I think. There this is a and this is an all cash
12:48
Here's your house free and clear. You get to live here, and you cover your life expenses. If you're paying for a latte, that's you, but,
12:55
I'll buy you this Brown stuff. I think I think that's gotta be what it is. I think that's it. That that has to be what it is. Or the second thing is you gotta earn a lot. The third thing is I think you gotta I want how many of them do you think sell a business? I think earning a lot, like, a big nut of ten, twenty million dollars,
13:11
it seems like impossible to do without selling an asset.
13:16
You gotta be in finance,
13:18
law,
13:20
maybe medicine or consulting.
13:22
To be pulling in a million dollars a year of income. I don't I don't think there are many other jobs
13:28
that do that. We're not talking about athletes, entertainers, because that's just small such a small portion of the population. But if jobs that a normal person can get, that's gonna make you a million to two million dollars a year, I'm pretty sure you gotta be either a banker or a banker or consultant if you're employed, or you gotta be self employed as a doctor or a lawyer or something like be able to pull that in. So that's like am I missing one? That's like Those are non those are yeah. Those are non entrepreneurial jobs.
13:54
Like, the other way when you just start small business. Yeah.
13:58
Yeah. Yeah. Exactly. You own a small business. You own a big business. You, you know, you own a contracting firm, you do construction around the city, whatever it is. Those are the other way where you can do this, and that's usually,
14:09
you're not earning some steady one point five million per year. You're earning, like, nothing, nothing, nothing, a lot, a lot, a lot, huge And then back to nothing, you know, like, that sort of thing. It's just it's this lumpy curve that an entrepreneur has where you're basically broke till you're very unbroke.
14:25
So, yeah.
14:27
But, okay, yeah, what else you got to say about this? And my third and final takeaway here is basically
14:33
There's so much out there. There's so much money out there. There's so much opportunity.
14:38
You walk by all these places And again, Ben's laughing at me. This is obvious. But it when you see it in real life, I walked down the street and I'm like, oh, that apartment, that cost twelve thousand dollars a month. To rent in that top floor of that brown store, sewn, and there's three of those in there. So, like, there's three people each paying twelve thousand dollars. And there's just, like, home, home, home, home, home, home, home, it's astronomical. There's just so much money out there to be made. It's just so much opportunity. So anyway, I, what, did this three hour walk yesterday, and I just
15:08
I felt enlightened, and I just wanted to come to the table and and fill you in on that. Nothing Nothing nothing,
15:14
was that popular?
15:16
Well, that's why, I'm glad you started the show with something unspectacular.
15:21
That that's why, you know, these TikToks that are, like, they stop somebody in a fancy car or a fancy house and they go, hey, I just wanna know what what do you do for a living? And the guy's like, and they're like, you know, first of all, like, is this like a trap? Are you like an IRS agent? What is this? And they're like,
15:36
I paint houses, or they'll be you know, I, I work in real estate.
15:40
You know, I work in the financial services industry.
15:43
It's like, oh, okay. What what's good on here? But I think the reason those are popular
15:48
is because wealth for most people is a complete mystery. It is a complete black box. Unless you come from wealth. If you come from wealth and you grow up and at your, you know, you're going to fifteenth birthday parties where, like, Serena Williams is there to play tennis with the other kids. You're like, what the hell? Like, you know, like, this is everything is just nice. Everybody goes, we summer in the Hampton. So you have a place where you summer. Like, summering is a verb.
16:12
And then you, you know, you're you're you know that you're oh, my godfather, you know, he's he owns like forty four dental practices
16:19
And so you if you grow up with wealth, usually you wealth doesn't seem like this mysterious unattainable
16:25
thing. You in fact, you realize There's like a thousand paths and it's up to you to decide which one you want. But for most people,
16:31
wealth is, like, kind of just this mysterious thing. You don't even see how wealthy people live. You don't hear, like, the numbers you talked about, I think for a lot of people listening, they're gonna be like, what in the hell is Sam talking about? Somebody pays five hundred thousand eight hundred thousand dollars a year of just their living expenses.
16:48
Like, that sounds like the most money you could make let alone spend per year.
16:53
And so when you're talking about spending more than a person's life savings in a year, that's I think very foreign to people. Then you say, okay. Well, how do you achieve that? And now you have maybe one example, two examples.
17:05
You don't have, like, twenty five, thirty five, forty five examples to choose from. And so I think that's why those TikTok channels are popular I think that's why this podcast is popular because
17:14
you either react to this type of information with one of two reactions,
17:19
bitterness or inspiration.
17:21
For most people, it's bitterness. You hear about other people's success or they're extravagant spending and you get bitter. You see the difference between what they do and what you do. And you don't focus on the fact that maybe you wanna do it instead you focus on the fact that their wrong, evil, unnecessary, blah, blah, blah, whatever it is, and how, you know, they only could have got it by by sort of cheating the system. Or some unfair advantages and you get bitter. And that's where I would say ninety percent of people fall into the bitter camp. But some people, they hear those stories and they take inspiration. And if you take inspiration, you start to collect each of these anecdotes. You start to collect each of these data points and you say, oh, I'm taking this foggy map that I have this cloudy map where I couldn't really see, and I'm just pushing away the fog. I'm getting clarity on, wow. There's a thousand ways to win. And wow, winning, it can be a lot bigger than I even imagined. And once you sort of have that in your head,
18:16
that's when things become a lot easier. Because you start to notice all around you examples of people building wealth in unique ways and ways that are not always long and hard, ways that are not always painful or require genius, you'll start to see examples of somebody who does it by, you know, simply like, you know, starting a mushroom farm in California. And it's like, yeah, that's what they do. Or somebody I remember I met a guy who created the tread that goes on treadmills. He's like, yeah, we're we're tread manufacturer.
18:43
I said, what? And he's like and they these guys would do, like, fifteen million a year in sales. And the was he a marketing genius? No. Was he a sales genius? No. He just simply was like, oh, There's demand for tread that goes on conveyor belts, treadmills -- How much profit you think? -- you think.
18:57
I mean, I don't know. I was, like, I was, like, in fifth grade at the time. I remember. It was my friend's dad. And I was like, what? Why is why is Jordan so rich? And I was like, Jordan's rich because Jordan's dad sells treads on treadmill. And then we met these other people that are rich. And they I was like, you know, again, I wasn't even asking the question, but I remember my sister saying something like, yeah, they have like mushroom farms.
19:18
And I remember being like, in my head, farmers don't make, like, tons of money. And then I realized pretty quickly, oh, farmers can make a ton of money. And so, you know, but I was just slowly collecting these anecdotes only when I was in my twenties, and I was like, if I wanna know how to get rich, then I need to know, like,
19:35
a lot more examples
19:37
of richness. And if I wanna get rich fast and I need to get examples of people getting rich fast,
19:42
And, and this is actually a good transition. We have a friend
19:46
who is we were just in the group chat,
19:50
We have a friend who it seems like might get rich very quickly here.
19:54
And,
19:56
let me explain. Richard,
19:58
they
19:59
created a product or a service or an app. And
20:02
they every day, they're posting a chart of, like, the growth of this thing, and it's, like, a early version of a hockey stick. It's like, yep, we went from doing a hundred dollars a day, five hundred dollars a day, thousand dollars a day, today, three thousand dollars a day. Today is gonna be nine thousand dollars a day. Pretty quickly. Like, you know, fast forward two weeks, this person's gonna put a chart in there that's gonna show them doing two hundred thousand dollars in revenue just today.
20:24
It's gonna be nothing has changed. It's just they just let the growth carry on. And you see that and you're like, wow.
20:29
That's that's winning, like, That's the h o v lane. That's the fast lane where you could just go in and you could win faster. Like, jeez, I didn't realize that. I thought I gotta
20:38
bust my ass for ten years. And the reality is this person has been busting their ass for ten years building up the skills so that they can launch a new product, and they can do let's call it five to ten million this year in in potential profits. Now
20:53
this person, if you remember,
20:57
many months ago, and they told us they told us this exact this exact thing, they go.
21:02
Yeah. I'm just thinking about ideas that can make
21:06
I forgot what they said, ten or fifty million dollars.
21:09
I wanna make ten million dollars in a year, fifty million dollars in a year.
21:13
And I was like, okay. Like, you know,
21:16
yeah. Sure. You know, and I want Jessica Alba to, you know, add me on Snapchat right now. Like, but it's not necessarily gonna happen. Like, you could just say it, but he was like, no. I've been studying. There's apps that do that in the app store. And And he's, like, showing us screenshots.
21:30
Yeah.
21:32
Yeah. Just showing your screenshots and examples. It's like that. Does that? Yeah. This does that. Yeah. And now you see ten of them. And all of a sudden,
21:38
First of all, I never knew somebody who even stated a goal like that. So just hearing it for the first time was like, that's interesting. I knew people that would say,
21:47
I wanna build a huge company, a billion dollar company. That was normal. I'd heard that before.
21:51
I'd heard, I wanna get a high paying job. You know, I wanna make, you know, five hundred k a year at at this company. I've heard that for. I had never really heard somebody be like, I'm looking for a way that I can make ten million dollars in three months. That was actually the exact thing. It was how do I make ten million dollars in three months?
22:05
And so I was like, alright. Well,
22:07
never heard that. That was new. Then I thought, well, my brain doesn't come up with any examples of how to do that. That's like, you know, doesn't involve, you know, putting a ski mask on and walking into a Wells Fargo. So, like, you know, then he gave me ten examples. And so I was like, okay. Well, now I got ten examples. Number eleven doesn't seem so far fetched at that point. And I remember coming to to talking to you and being like,
22:30
Dude, have you heard anybody think like this? Talk like this? Come up with ideas like this because
22:36
I believe that there's great power in questions. And I'd never really heard somebody ask the question. How do I make ten million dollars in the next three months? And once that question was asked, now my brain has to start coming up with answers. And at first, my brain was struggling.
22:48
And then as he gave me examples, it started to get better and better and better come examples about how you might do that. And now it's literally happening. Like that that scenario is actually playing out right in front of us. What do you think of this? I think it's awesome. I think I think it's still too early. I think anything that comes fast will go away fast or can go away fast.
23:08
But -- Right. -- he called his shot and we are seeing on a daily basis whether it's come it's coming it is, in fact, now, coming into reality. And I think it's awesome. I think that there's
23:18
ways. I think Peter Teels said it where he's like, what's your five year goal? And then someone says their goal. And he says, Cool. How can you do that in six months? So I usually believe in that. This guy took it even further, which is what's your five year goal to do it in three months.
23:32
And it's awesome. And there's another guy who I know that's done this and he's public. His name is Alan Wong. Do you have the,
23:38
the, the,
23:40
app on your iPhone that lets you listen to police scanners. It's like the police scanner app.
23:44
No. But I know I know of these apps. These are these are weird. Yeah. It's like five dash zero
23:50
radio app. I think, like, five o radio app. And this this guy, Alan Wong, he posted in Reddit in two thousand and eighteen. And he basically said,
24:01
he said, hey, I'm Alan Wong. I was told to create name in here.
24:05
Yeah. You wanna you wanna read it or repress it? I have it up here. He goes. Yeah. He goes. I'm a ask me anything. I'm a person in his twenties who went from rags to riches during the recession.
24:14
He goes, how I did it? I developed apps. My most popular apps is called the five o radio police scanner. It lets you listen to police chatter around the world. You've probably seen this used in the latest Spider Man movie. Although they rebranded it. And as of twenty twelve, my apps have been downloaded by twenty million people. By the way, this is ten years ago. He wrote So he did this in the two thousand eight, two thousand Well, I have an update on that that I can give you in a in a second. So so he goes, my parents were raised in the slums of China. They fled here when my brother New York. My mother worked in a sweatshop in Chinatown before she quit, became a homemaker.
24:43
My father was a herbalist before he passed away on naturally three months after I graduated from college. After his passing, no one in my family had a job.
24:50
So he says, I found a full time job at Columbia University. I was the only one with income, so I taught myself how to create apps in my free time. And I created apps on the weekends with hopes of making some side income. I didn't expect this to make me millions.
25:02
And then he says, where does he say his money? I don't think he says his money somewhere here, but, yeah, go ahead. Fill him the gaps. So he doesn't say it there, but I found it. So there's this other subunit that I talk about all the time called Fatfire.
25:15
And they've got this particular type of flare called verified by the mods where the mods, the moderators,
25:21
look at the income or your balance sheet. They look at something and they say, yeah, we believe it. What you are saying is true. And his verification is for a hundred million dollars liquid plus.
25:31
And so he the guy has over a hundred million dollars.
25:35
And he did it all through two or three of these apps. And I believe with close to no employees, and he did it over around, like, eight or ten years.
25:45
It's a he by the way, he says
25:48
So he has three apps. He has five o radio. Then he has police scanner plus.
25:54
And then he has one more called what is it called?
26:01
Hang on. He's got three apps
26:04
that were in the top,
26:06
like, the top hundred. So so he goes, This means I'm the only person ever in App Store. This is what he wrote at the time. This was back in, I don't know, twenty twelve, twenty thirteen, something like that. That my only person history to have in the to in the app to to have three apps in the app store that were top ten overall in the paid and free categories at the same time. Yeah, man. This guy's cool. And then he if you Google his username, it's rego apps. So r e g o apps And then fat fire, you'll see his posts from fat fire. And he talks about,
26:39
what it's like to be, different tiers of rich And he's has all types of of, like, you know, when I was at this thing, this is how I felt. When I was at this other thing, this is how I felt. And now according to his flare, it's over a hundred million. And so this is a so you're asking, who else do I know that's done this? I don't know this guy, and I can't verify that any of this is true, but it's pretty interesting, and it might be true. Well, yeah. And and I don't know the speed that this guy did it, but
27:05
still amazing. By the way, we should get verified in fat fire. Why aren't we posting in fat fire? That seems like a that's our those are our We should hang up. I do post there. I post there under a name that no one knows me as, but I would post there more. Would you post do do you,
27:19
you use this? Yeah. I'll I'll go browse. I I never post, never comment, but I'll I'll make an account and I'll, let's do it. Let's get verified. Let's do an AMA there. Yeah. So look, this guy's thing says, I fat I found his username.
27:31
He goes, I fat fired at age twenty five. I made ten million dollars a year in my thirties. Ten yeah, ten million plus a year in my thirties, and I have over a hundred million dollars according to, which has been verified for the mods. And here, this is what he says. Someone says, what's the difference in millionaires? Or in money level. So he goes, at a hundred k to a million, you can tip very generously and be okay with that. At one to five million, you could fund some medical expenses and maybe a college college tuition or two. Maybe for an extended family member or friend, at five or twenty, you could pay off a handful of college tuition. I guess they're asking about donation. You can pay off a handful of college tuition and some expensive surgeries. And then he jumps to,
28:06
fifty to fifty million. You can create several nonprofits and overseas that
28:10
that are overseas and help people, at a community level, like, building a school or a local community or something. So he, like, talks about this constantly throughout this subreddit, and it's very, very interesting.
28:20
Yeah. That's cool. I like that. That's a good story.
28:23
I
28:25
I,
28:26
I'm gonna have another story to share on this and let's call it
28:31
thirty days. Let's say. I'm gonna call I'm gonna leave that little seed here. Thirty days, I'll have another interesting story to share on this topic. But let's switch to something else.
28:46
A million dollars isn't cool. You know what's cool?
28:49
A billion dollar.
28:52
Let's talk about,
28:55
this guy's Scott painter. Do you know who Scott painter is? This is my
28:59
This is my Billy of the week. This is Guy Scott painter. I don't know if he's a Billy, but he's got that big Billy energy for sure. And I'm gonna tell you this guy's story, and you're gonna be You're gonna be amazed by this guy. Alright. Go for it. Do you know who I'm talking about? Do you know who have you ever heard this name before? No. I'm just looking it up now.
29:15
So Scott Panther is known because he was the CEO of something called TrueCar.
29:19
And so True Car is like a super successful,
29:24
It was like one of the super successful early,
29:27
car companies on the internet. So what they were doing was they were publishing price information so that you could go and figure out, you know, the the what the true price of this car is so that,
29:36
you know, if before you would go to a dealership, depending on which dealer you went to and which salesperson you talked to and what how they sort of sized you up as a sucker, you would get like a thirty percent price differential on the price of the same car.
29:49
So you could go to one place and the same exact card. They'll they'll charge you,
29:53
you know, thirty percent more or less depending on which place she went. So it's a huge spread. After true car, people could just go figure out, well, this is the price of this car. In nineteen ninety seven, you know, Mazda, Miata is supposed with this many miles is supposed to be this price. And in every market, they would go into the price gaps that that dealers were charging would spread would change from thirty percent. Down to, like, three percent. And so they were, like, helping being in price transparency.
30:18
But this dude is a crazy story. He has built He has basically spent, like, twenty years just constantly trying to reinvent the auto industry online.
30:27
So this guy did, I'm just gonna read you, like, his his LinkedIn.
30:31
So he's, he's the he starts off well, he goes to the army, first of all, and he's a Spanish interrogator, which is just like a kind of a crazy little path that he took And he talks about, like, you know, why he went there is, like, you know,
30:43
my, you know, dad wasn't so cool. I needed freedom. Army was freedom for me, so I went to the army.
30:48
And,
30:49
So anyways, he get he goes and he becomes VP of marketing at one eight hundred car search. This early internet. We're talking like nineteen ninety nine, basically. He and so there's one eight hundred car search, one eight hundred dentist. He's like the VP marketing for each. Then he creates, like, a consult. So he's just hopping. One year one year after They creates dental advantage. It's like consulting for Dennis about how to use the internet. Then he starts another one called Vision Incorporated. This is again nineteen ninety nine ish. And he's like, helping companies transform, like, for e commerce, like, hey, companies are gonna need to do e commerce. I'm gonna help them do this. Like, he was right. He was just way early.
31:22
On on this trend of e commerce.
31:24
And then he just starts this, like, crazy run-in the car industry. So he goes, the he's the founder of cars direct. They go from zero to six hundred fifty million in sales in year one.
31:34
Then he goes, he starts advertising dot com.
31:38
Yeah. Then he's CEO and founder of TrueCar. Then he's CEO and founder of Price Lock, which was, like, lock in your, like, gas prices.
31:46
Then he was a founder, then after so he's he does TrueCar. He takes it public.
31:50
And he gets on this crazy scenario where he is the, I think he is the largest individual shareholder
31:56
He's not only largest in his shareholder. He's buying up a ton of stock. He believes in the stock like crazy. They have an earnings miss.
32:04
Like the economy sort of turns, car owner, people start, slow down with their car buying. They have a big quarter miss. Stock drops like crazy.
32:13
He gets margin called because he was buying so much of his own stock.
32:17
And he's basically forced to borrow money from friends to pay off his margin call. And he he resigns from the company. That same month, he basically has to step down as CEO.
32:27
He lost a ton of money on his own stock. He he gets a divorce
32:31
and his literal house burns down.
32:34
And,
32:35
what does he do the following week?
32:37
The following week, he incorporates
32:39
fair dot com
32:41
to a new way to buy cars. And this was, like, basically the idea that, like, hey, car buying is super super complicated. You go, you buy a car. I don't know if you've ever done it, but, like, the process of if to buy a car, you have to qualify for financing, like, you know, eighty percent of cars are financed in the United States. No. Nobody buys cars to all cash here. And,
32:59
And then you have, like, this complicated, like, credit check payment thing, then you have your your insurance on top. You have your title insurance. You have to do the right registration.
33:08
You have to do all this different stuff. He's like, what if instead it was like, you know, what if buying a car was as simple as, like, buying a coffee or Netflix, like, subscription? So what he would do is you would just put in your phone number. It would, like, find out all your information. It would and it would say, what card do you want? You pick a card, it'll be like, cool. That car's five hundred dollars a month. And you own that car, and you could turn it in at any time if you don't want that car. So it's like a long term rentals, basically, was what Fair was doing. Fair grows like crazy. They raise hundreds of millions of dollars because, a, this guy has got this crazy track record, b, he's very, like, kinda charismatic and,
33:40
formidable. Like, you see this guy as a founder, you're like, God, I would hate to be competing against this guy in the same market. And he thinks very big. He's like, you know, we're gonna change the way that car ownership is done. We're gonna make this faster, cheaper. Whatever. SoftBank piles in three hundred million dollars into a series b round.
33:56
And, and they're on their way.
33:58
And fair ends up going up really fast and then crashing really fast because,
34:04
the few years ago, I don't know if you know my other basic, like, the, you know, as the markets, like valuations turned SoftBank
34:09
was was was the big whale in this space started losing money. They lost money on WeWork, then they lost money on was there the big one? SoftBank had like, I don't know, three or four, like, huge things like Uber. Like, they had a bunch of huge things going like the crisis crash from where they had invested.
34:25
And so he couldn't raise any more money. And he had built this, like, very complicated thing. They lay off forty percent of people. Fair doesn't really work out. And now he's back again because I see this thing that says, this new startup autonomy has placed four hundred million dollars worth of purchase orders to buy eight thousand something Tesla
34:44
this year.
34:45
I was like, what? Who's buying eight thousand Tesla? Who's paying four hundred million dollars to buy Tesla?
34:51
And it's a startup called autonomy that is trying to make it where you could just rent electric cars.
34:56
Simply, like, you you you there's a lot of people that wanna own electric car, like a Tesla,
35:02
and, they can't afford it. It's too expensive all in. So here, pay this monthly fee, and you get to rent a Tesla. You get to own, but you basically get to, like, a test. So you're not renting anything. It's a long term rental.
35:14
He's back. And so they placed one billion dollars of purchase orders across different electrical vehicle manufacturers
35:21
to do this. So he's he's back. He must have raised a ton of money again plus light raised a bunch of debt. And, he's back with his new startup drive autonomy. And this guy is fascinating. I went down to rabbit hole, listening to interviews with this guy. He is a very interesting
35:36
dude.
35:38
Because of this autonomy thing. I worked backwards from the last thing I told you where I was like But why were you just looking at purchase orders of electric cars?
35:46
Saw a two I saw a tweet, you know, you, I follow on Twitter, like, you know, Elon and a bunch of, like, these, like, kind of Tesla fanboy and Tesla Hader accounts. Like, the I follow both sides, like, There's basically a huge group of people that are I should actually say it's a small group of people that believe Tesla is a giant fraud and is going to zero. They're called Tesla q. And then there's other people that believe that Elon Musk is, you know, the second coming of Jesus. And
36:07
I follow both. And in the second coming of Jesus camp, they were like,
36:12
Tesla, you know, this huge, you know, here's more good news for Tesla. These guys drive autonomy has placed four hundred million dollars of of orders for for Tesla because there's so much demand, but and Elon have rep replied saying,
36:24
he was like, demand has never been the problem. It's supply.
36:28
Like, manufacturing, like, production of cars is our problem. Like, yeah, this is good news, but, like, we don't have a demand problem. We have so much demand. We have supply problem. But I was curious.
36:37
Where is this, you know, half a billion dollars of demand coming from? I've never heard of this startup before. What do they do? And and that's what they know. What what was he like when you hear him talk? Is he charismatic?
36:48
He just looks like a a a normal white dude. Very manic.
36:53
Very matter of fact.
36:55
So he's basically like
36:56
he's a good storyteller. He's quickened to the point. He,
37:00
he reminds me a lot of, like, you know, that other guy we like Frank Slootman, the guy who runs Snowflake, who wrote that amazing blog post amp it up, which basically describes, like, you know, don't be such a wuss. Like, you know, run your company to win We're here to win, and, like, this is the plan to win.
37:16
And, that guy's just been, like, a serial CEO of companies that just grow really fast.
37:21
This guy's like that. So let let me tell you some of the kinda, like, interesting little nuggets that came out of this. So I'm just gonna keep rambling on this guy. So he's basically he's like, He's, like, I'm a multi time college dropout. Like, I have dropped out of college multiple times. I dropped out of, like, my kind of prep college. I dropped out of undergrad.
37:39
I dropped out of grad school. And he's like, I basically had a ton of failure. Do you guys know me? Because
37:44
I've tried, like, twenty five things and three have worked.
37:48
And he's like, you know, but that's entrepreneurship. Like, you know, you need three to work out of twenty five in a twenty year career. And, like, that's that's, like, what winning looks like.
37:56
He's like, you know, I always loved cars. He goes cars are a where am I at in life purchase? Because I can just look at look at a car that I own, and it would tell me a story about where I was in life, you know, like, you know, when I'm graduating from when I'm graduating, right, I'm coming of age or when I, like, you know, when I moved or when I got a got a my first good job or, like, whatever. He's like, a car basically marked
38:19
you know, each chapter. He's like, that's how it is for most people. I kind of had that insight, which is like a car is like your avatar that you use when you go around the world. A car says something about you. And, yeah, when you when you go upgrade to the minivan, it's because you're going into family mode. And, like, that's what I kind of realized because people spend a crazy amount of money on cars because the interview, the guy's like, how have you been able to raise so much money? He goes, well, I play in, like, the biggest market, he goes, fifteen percent of all people's gross income goes to mobility. Half in buying their car and half into fuel taxes, repairs,
38:51
insurance, etcetera. He's like, so when you have this thing that makes up fifteen percent of what everybody makes,
38:57
or just put differently. Like, I think it's like a third of your net worth, you know, if people are spending on a new when they buy a new car, he's like, the TAM is just enormous. Like, you know, it's like five billion,
39:08
five trillion a year,
39:10
goes into cars or something insane like that. So he's like, you know, that's the easy answer to how I've raised so much money. I went and played in this big space, and then I tried to reinvent it at every every time I would do one, I would try to reinvent it. He's like, you know, we were the first ones to be, like, we would put the upfront price of a car on the internet. Nobody was doing that at the in the early days. I think that's the car's direct. Is he successful? Yeah. You said that he got March and called. Does that mean he was broke?
39:36
It doesn't necessarily mean he was broke. It means he didn't have enough collateral for, like, what he borrowed for his stock. Now if the stock recovered, which I don't know, I haven't true car. Due true car, their their marketing habits is two hundred and thirty.
39:49
Million?
39:50
Yeah.
39:51
That's that's yeah. That does not look like it is done very well since then. So,
39:57
yeah, it's like, basically,
40:00
you know, a third of where it was back in twenty fourteen. So, yeah, that's that's not doing so well.
40:05
And he says that in his thing. He's like I've made a bunch and I've lost it all many times over.
40:11
And so, you know, I'm sure this guy's done well. Like, I I don't think he can build multiple
40:16
companies that get valued billions of dollars, take a company public. I don't think you can do that. And, like, you gotta real you gotta be, like, kind of really fucking reckless to walk away with less than, you know, twenty million at at the end of all that. Dude, I love people who who, anyway, swings, even if they miss, like, consistently
40:32
or, like, you know, in this guy's case, like, he did entirely missed. He did actually build some amazing things, but, like, maybe it was just shy of what it could have been. Another guy who's doing that right now, tell me what you think about him. Adam Newman, the founder of WeWork, he just raised
40:47
two hundred and fifty million dollars in seed funding.
40:51
For a one billion dollar
40:53
apartment
40:54
business. I don't exactly know what the business does, but it sounds like
40:58
it's we live, the thing that we talked about where you, you know, it's like fancy apartment buildings that are all most of the same. You pay a premium because it's all pre designed and looks really nice and it has a community on it. Which honestly, I think is awesome. I also think WeWork is awesome.
41:12
What do you think about a guy like Adam Newman taking another swing?
41:19
Our software is the worst. Have you heard of HubSpot?
41:23
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,
41:33
grow better.
41:35
I think it's great. I think it's so easy for people to shit on him.
41:39
And you people shit on him for two reasons. One is Well, I forget the reason. I'll give the explanation. The reason is just simply, like, you know, it's fun to hate on somebody, you know, that you don't know that, like Why and he's full he's full of shit. Hide.
41:51
They
41:52
they got too big headed, and then they could they crash. People like that. But
41:57
I think the criticism is what? The criticism is
42:01
WeWork failed. Well, WeWork didn't really fail. It just didn't achieve the, like,
42:06
you know, what's we work work today? We work is still like, you know, like five or six billion. Company more valuable than
42:12
than anything that we've ever built, you know. So it's like
42:15
yeah. WeWork is valued at three point nine six billion right now publicly traded.
42:20
You know, so it's not like the it's not like weWork actually failed. It's just
42:24
you know, he raised too much money to have valuation. Didn't live up to that, that dream of that, that promise. And a bunch of people got burned if you bought the stock or you joined the company at that really high price. Yeah. You're underwater for that. So that's the first criticism. The second is he lied, cheated,
42:39
steel, you know, he he licensed the He was, like, paying himself out of the company for the trademark of We. He, like, you know, did stupid things, like, you know, this, like, summer camp where everybody got drunk and whatever.
42:52
Those things to me are
42:54
somewhere between
42:56
a little whack, a little messed up to
42:59
actually, like, understandable and more common than you think when it comes to these, like, hyper growth companies. Like, I don't think he's a liar. I think he's crazy. Kinda ego driven people. But there's crazy good. There's crazy bad. Is he crazy good or crazy bad? What do you think? Mostly good.
43:13
But it could be in some cases it was bad. But I think that when I at least when I read about him and I don't know the guy, I've hung out with,
43:20
Miguel, the co founder. And my my read on these guys is I don't think you're lying. I just think that you got some things wrong, and I think that you're just, like, incredibly
43:30
enthusiastic. And I don't know. Like, is it
43:33
When you paint the picture of the future and you end up being way wrong, you're you're not a liar. You're just wrong.
43:39
You know, you're optimistic.
43:40
But you still called it wrong, but you're not a liar, or at least you don't you're not a liar if you believe that it's gonna show true. Different. Right? Right. Delusional or irrational
43:48
is very different than, like, lying or fraud. And I think
43:52
there's a line. Who knows if you crossed it? I don't know all the details I'm not in and all that. But from from the outside, it looks to me. Like, he was one of these guys who is
44:02
huge dreamer.
44:04
Un irrational self confidence, so unbelievable self confidence that they are gonna pull it off, that they're gonna pull off this crazy crazy dream.
44:11
I do think they get, you know, high on their own supply where they start to think that, like, you know, the stuff that got them
44:17
to the to the point you know, you're on the cover of Time Magazine, and I've raised throwing money at you to fund you, then all of a sudden you think, you know, I can't be touched.
44:25
And I've seen this play up many, many times. I've gotten burned on some of these. So I've, you know, let's let like, I,
44:31
you know, I invested in terra, which was like, you know, the Luna like crypto coin. Right? And the the founder of that was the same way. This guy, doquan, super smart,
44:40
charismatic,
44:42
unbelievable confidence that his thing was gonna work, and some some people along the way were saying he's crazy.
44:48
And then slowly but surely a bunch of smart people gave him money, you know, because it was like this guy's crazy, but he's kinda pulling it off and Maybe he is just crazy enough to pull it off. And we have many examples of history of people who are crazy enough to pull it off. Let's see if this happens.
45:01
And, and and then over time his ego ballooned and it ballooned and it ballooned and he kept basically taking larger risks and tempting people to, to, you know, sort of call him on his bluff and then And then somebody did. In the market, like, a series of events happened and it crashed and all went to zero and everybody looks dumb. And, you know, I lost a million dollars of, like, you know, what I had in worth of Luna,
45:21
in, like, two days because
45:24
I believed that this guy was gonna be one of the crazy ones to pull it off. I didn't think he was crazy. I thought he was crazy and, like, might be the good crazy and, was worth the bet. And so,
45:35
on on other times, I've bailed because I thought, you know what?
45:39
I'm not falling for this sort of the hero entrepreneur,
45:42
the charisma, the the visionary entrepreneur thing. I owned Tesla stock
45:47
when it was,
45:49
really, really low. I remember,
45:51
I remember at the time Tesla was valued at maybe, like, two billion
45:55
and, two, three billion, something like that. And I remember investing in it, my dad was like Tesla. They don't make any money And I was like, yeah. But I think that, like, you know, here's my reason why I think they're gonna be big, but a, b, c. And then I I say he's like, yeah. But, like, you know, it's already valued billion. I was like, well, you know, at the time, I think GM was like twenty five billion or something like that.
46:15
One of the big companies. What's Tesla down? Like, five hundred billion?
46:20
Yeah. But it hit a trillion. So, like, you know, I would have rode two billion to a trillion.
46:26
I can't do that math. So, basically, it's like a that's like This was my it was the first stock that I bought. I only think I put it in, like, twenty five k or something crazy like that. But twenty five percent would have been, like, millions. Right?
46:37
Yeah. I I won't point any calculator. It was a five million dollar.
46:41
I I would have had five million dollars. I what I did was I turned the twenty five k into, like, a hundred and twenty five k, and I sold because I started to get suspicious that, like, damn, this guy really overpromises,
46:51
like and he he does overpromise. He overpromises on, like, when something will be built, how good it'll be, like, He's he's pretty much wrong on the timing always. Like, he's he's been saying that the cyber truck is coming out. He's been saying that the, you know, the model three would be more affordable than it is. He will say that autopilot, like, he's been charging people for autopilot, like, the self driving, full you you you buy FSD full self driving, and it's, like, not full self driving, and you've been paying thousands of dollars. For, like, multiple years now. And he always says it's a right around the corner. Right? And so, like, this guy does have this. I remember when I was reading the the the Twitter stuff about, like, people who were basically saying this guy's a fraud, Tesla's a scam,
47:29
it was very, very convincing. There was a lot of convincing evidence. I remember, like, They went through twenty CFOs.
47:35
Twenty CFOs in, like, a four year type span. And, like, the new CFO was, like, guys never been a CFO before. And, like, somebody really smart once told me, like, just follow the CFOs. The CFOs know what's going on with the company. They know the company health better than anybody. And, like, that made a lot of sense to me. I actually still believe that principle. It just turned out to be a problem.
47:55
No. No. It it was right, which is that it was on the brink of collapse consistently,
47:59
and,
48:00
he kept pushing He threaded the needle. He pulled it off. Yeah.
48:03
He he pulled it off. He threaded the needle. He pulled it off, and there's still a bun a mountain of evidence as to, like, that it was very close to failing that,
48:11
he basically overpromised slash
48:13
that overpromised would be the generous term. You know, sort of lied manipulated,
48:18
you know, to keep the stock up, to prevent it from getting, like, you know, basically,
48:23
crashing and and and going down to business, a bunch of evidence that that supports that. But the bottom line is he pulled it off and I was, you know, five million dollars wrong for selling early.
48:31
And, and so I've been on both sides of this. And I I think where I netted out is
48:35
Some people literally are just con artists, and they are literally just going to scam you and their charisma will,
48:42
will manipulate you and dupe you into into believing on in them.
48:46
But there the some of the best entrepreneurs
48:48
do have the same have such a similar profile where they're irrational, delusional,
48:54
willing to, like, run into a, you know, a fire pit and they're like, there's no way you'll make it out. And then the, you know, nine out of ten don't, but the one out of ten who do, you know, like change the game.
49:04
And so I have just sort of landed on, you know what?
49:08
I'm gonna
49:10
lean towards I'm gonna lean towards optimistic on this because even though I would be right, if I was pessimistic about it nine times out of ten, I'd miss the I'd have a false negative on the one that actually works out and that one will a pay for all the losers in investing terms And b, like, you know, it's just more fun to sort of like follow these entrepreneurs and and understand what they're doing, you know, and why they believe they could do this. And, be more optimistic than a hater towards him. That's kinda why I landed. That's a good one. Alright. Let me just tell you. I'm gonna I wanna end with two things. One, is the lamest thing I've seen on the internet in the past few weeks. And number two is a company that is making way more money than I thought, and I'm absolutely gonna clone it eventually.
49:51
I'm gonna start with the second one. The
49:53
go to Perfect.
49:56
Yeah. Go to bit pipe dot com. So b I t
50:00
p I p e dot com. Tell me what you see.
50:03
Okay.
50:06
Oh my god. Alright. I see a Craigslist looking website. It says bit pipe is the enterprise IT professionals guide to IT resources.
50:13
Browser's feed online library with the latest technical white papers, webcasts, product information. Alright. I don't know what this is. But Basically looks like a set of blogs maybe,
50:22
content about Click one of them.
50:25
Click one of them. Click content management.
50:27
Yeah.
50:30
Done.
50:31
Then click view now. Okay. It looks like it's a set of reports.
50:36
So click view now. So I did it for you. It says Now This is an article from Computer Weekly.
50:42
It was released on August twenty two, August two thousand twenty two, and it's called,
50:50
like, it's so technical. I don't even know what it actually what are the what's the one that you're looking at?
50:57
I'm looking at Euro Tunnel's digital journey for realities of post COVID travel, and it tells me I could download this
51:03
EZine,
51:04
EZine. The hell is that easy? Okay. And I'm gonna let let me tell you an even worse one. This one's called how to choose an HR software. Is that like what people call a a magazine on the internet, easy. Yeah. Is that what it's called? It's it's old. So this one's there's one called how to choose listen to this one. It's called how to choose an HR software system.
51:24
And HR system is one of the most important purchases an organization makes nowadays, the stakes couldn't be higher.
51:30
And download this key, this guy, this e guide, and learn all the key steps in setting up an effective bind process and how to identify
51:38
HR HR software features. Then it says, give us your corporate email address, your first name, last name, company name, job title, seniority, job function. Number of employees, industry
51:49
address, country, states that phone
51:52
and just click download now and we'll send it to you. Alright.
51:56
So this website,
51:57
it's owned by a company
51:59
that owns, like, twenty or thirty of these websites.
52:04
And it only has about three thousand customers,
52:07
but it makes around
52:09
four hundred to five hundred million dollars a year in revenue.
52:13
And the way it worked No. Yes. Sam, no. No.
52:17
No. I refuse to accept this reality.
52:20
No.
52:22
No way.
52:23
Cut this out.
52:25
I don't like this. I don't like this.
52:27
It's public it's a publicly traded company. It's a publicly traded company. With a market cap of about two and a half or three billion dollars.
52:35
So it's owned by a company called This exacting bit pipe makes that much or the whole company makes that much? The the whole company, which is roughly, like, ten or twenty of websites like this.
52:49
At tech target. So every company on this bit by website, you see how it says this is from computer weekly dot com. Or this article is from networking.
53:00
It's like flow route
53:01
social networking dot com. This was from, like, this other website that talks about global knowledge, which is your guide on information systems. So they own, like, ten or twenty publications
53:14
that talk all about, like, buying software for huge companies. And they get very few people coming to these websites a month. Very few.
53:23
But because the article is called how to buy an HR system for a thousand plus employees,
53:30
there's around twenty five companies in America that will pay them money to, do a couple things. The first thing is they wanna contact the people. The lady who is giving in our her email and information on an article on how to pick an HR system is a lady who, maybe thirty different HR customers will say, hey, I'll give you five hundred bucks if you can give me that lady's information so I can call her. The second thing that they do is they they'll track that lady. That lady, Linda, she's gonna go to computer weekly dot com and look at an HR software then she's gonna go to information system and look at a cloud,
54:03
software thing. And then,
54:05
what tech target is gonna do is they're gonna go to their clients and be like, Hey.
54:09
Hey, motherfuckers, you there? I got a lady who's about to buy this thing, that thing, that thing, that thing. You wanna talk to her? You wanna holler? And that's what they do.
54:17
And that's how they make their money. And they make hundreds of millions of dollars a year. That's all they do. They go, hey, This motherfucker's about to buy some cloud software. It'd be true. Yeah.
54:34
They own a a website, actually called what is, and it's just like people googling, like, like, the but that means their phrase like, Hey, what it is, bro? Yeah.
54:42
Yeah. I got this chief information officer at Garter.
54:45
Yeah.
54:46
Yeah. Dave wanna score, bro.
54:49
Yes. She's texting me. Yeah. Yeah. Yeah. You up? This is insane.
54:53
Sorry. So but why do people
54:56
why is that person who's the head of HR? Why are they landing at this website that looks like it's from, like, nineteen seventy nine. Why are they this looks like, you know, back when the internet was called the intranet, and it was, like, six computers. This looks like a intranet website. It's not even an internet site. And because what the fuck are they gonna do? I don't think their hours is just googling.
55:16
Because, dude, if you Google, like, what is a good software? If I'm if I'm,
55:21
you know, like so if I'm the the chief information officer of a ten thousand or five thousand companies. I'm gonna get my information from a few different ways. I'm gonna watch loads of very specific
55:32
webinars that are on, like, a trade show, a trade magazine. I'm gonna read trade magazine. And by trade magazine, I'm gonna learn about them because they're hosting, like, a hundred person trade show that's all it talks about, like, how to pick an HR software in Vegas. And it's really just a really fun way for me to go and watch the Chippendale's, like, get do their thing, but then I'm gonna go to, like, a vendor that day and, like, you know, we're gonna hang out and do some blow. But then that so they're gonna go to that website and learn all about it because that's how they know them. And then occasionally, they company's gonna do a webinar. In order to access the webinar, you're I'm gonna give them a bunch of information,
56:04
and they're gonna sell that information to the eight companies that could possibly service me. And that's how the tech target makes money. And so this lady Linda, she's gonna go to all these websites and meet all these people because it's a small,
56:15
it's a small, small industry. There's like maybe tens or at most hundreds of thousands of people who would do this. And this is what I've been thinking about. This b to b media world. It is
56:25
awful.
56:26
Say it with me. It is awful. It is a horrible, horrible industry. It is awful.
56:31
Yes. With a with a barrier or a
56:35
the the it's such a low bench line or bent, threshold of what's good and what's not good. The content is horrible, and people love it. And these businesses work. Why aren't we starting a company that just beats these guys? Why aren't we starting the most boring
56:50
b to b media company? But
56:52
We put our spin on it. Just like mug shoties did, just mug shots, we are gonna do to the b b to b media industry.
57:00
Why are we doing? That's what we're gonna call it. The b to b bitches.
57:04
Hey. Where's where's the b to b bitches? What's up? Yeah.
57:10
It's gonna be like a like a radio show where it's gonna be like, hey, it's the b to b bitches. Today, we're gonna talk about information systems. Wait. Wait. Wait.
57:19
You know, like
57:22
Yeah. Exactly. We're gonna have a podcast that's a radio station. Actually, we're just gonna have a AM radio station. Yeah. And we're gonna have a,
57:30
you know, we're gonna give pagers to every CIO in America. And there's gonna be like little sound clips.
57:35
It's gonna be like, b to b bitches in the morning.
57:38
Yeah. This is gonna work.
57:40
Exactly.
57:41
Yeah. You know, My favorite thing, by the way, there's radio stations that do the Cheaters segment. You see this? Are they, like, they, like, they call
57:49
it it's like, hey, will you call my boyfriend and just see if he would cheat on me? And, like, they just, like, call the boyfriend and then she's on the other line. They basically trick him into being, like, yeah. Alright. I'll meet you at Home Depot. What time? And then they're like, actually, Rebecca's on the other line, and Rebecca's like, you said of a that's what we're gonna do. We're gonna get one vendor, your existing HR solution on the line, And then we're gonna call being like, hey, are you interested in a new HR solution? And when they say yes, we're gonna be like,
58:15
we got workday the line. Workday. What's up? He's gonna choose, he's gonna churn, and it's called churnbusters, and we just catch him in the act.
58:24
Oh, no one has ever laughed. Have to add this style of content except until or, up until right now. We are the first people to ever make tech target. A fun topic to yeah. But, dude, this is interesting. Right? The the this business model is crazy fascinating to me. They make money through webinars. They make money through, like, these e papers or they fucking call Mazeem. I mean, that's just like who's working here.
58:47
So my next business, I already have started a company. It's like this community thing. I'm gonna add this this style of company, I'm gonna add it to, this is gonna be in our portfolio of products. Now let me show you the last thing. Dude,
58:59
Last week, I think Can I just say before you do that? Can I just before you do that? This is
59:04
this is yet again.
59:06
A number seven. We got a number seven, a Sampar special.
59:09
This is a Sampar special. It's like no one's even heard of this website. Somehow it does hundreds of millions of years. A a year. It does it looks like it's from nineteen eighty two and, like,
59:19
you know, how do you even know these? I don't know, but this is a Samsung special. This is why I like to talk to you because you bring these things. Nobody nobody I know in my entire life.
59:29
I could I could hit every single person I'd say, Hey. You ever heard a bit pipe? I will get the answer no across the board. You're the only person that I know that knows about this stuff. Well,
59:39
look up tech target market cap. What is it? Is it like two point it's like multi billion. It's like one of these companies that's just like in plain sight, but no one pays attention to it.
59:49
So it's there. It is, let's see the current price.
59:52
So it's trading at seventy two dollars a share with a market cap of two point one billion And, like, what was its peak? Its peak was probably five or six or seven.
01:00:00
I mean, it's not, like, a little thing.
01:00:03
Yeah.
01:00:04
Double. Yeah. It's basically double where it's at now. Alright. Last thing,
01:00:08
the lamest thing that I saw
01:00:10
last week. So this guy posted on LinkedIn,
01:00:14
a picture of him crying.
01:00:17
And
01:00:18
It it he's
01:00:20
the post starts off. This will be the most vulnerable thing I'll ever share. I've gone back and forth whether to post this or not, but we just had to lay off a few of our employees
01:00:28
and he talks about how it's his fault and how he made all these decisions.
01:00:32
And
01:00:33
I'm gonna have to file this under
01:00:36
Things that I'm gonna take to the fucking grave.
01:00:39
I cannot believe this post.
01:00:43
I cannot believe this post. What happened to, like, a man being stoic and just, like, you know, like, just taking this. Just take these feelings and just push them down.
01:00:53
You know what I mean? Just accept it and push them down.
01:00:55
Hey. It's great. On that shelf that just has daddy issues make room. We got something new I need to put on the shelf that I'm wearing deep down in my gut. Yeah. Yeah. Yeah. I want that problem to walk over, be like, excuse me. You mind if I scooch in right here. That's what needs to happen with this. I cannot believe this person share this. Is that ridiculous?
01:01:14
I mean, I don't even understand it, by the way. He goes,
01:01:18
He goes,
01:01:19
I've seen a lot of, I've seen a lot of layoffs of the last few weeks on LinkedIn.
01:01:23
Most of these are due to the economy or whatever other reason. Hours
01:01:26
my fault. I made a decision in February that I stuck with for too long.
01:01:30
Now I know my team will say, we made this decision together. By the way, they won't They'll say, you made this decision.
01:01:37
They're they're not gonna be like, we all made this mistake, boss.
01:01:42
Yeah. And so then he basically writes this long thing, and he writes it like in the marketer style, whichever the line, like, single line, enter,
01:01:49
one line, enter. And then he posts this picture of himself looking into the camera crying.
01:01:55
And this has,
01:01:57
I think it has fifty thousand likes and ten thousand comments, but most of the comments are just shitting on him, which is hilarious. Oh, sorry. You said what? It has fifty thousands. It has fifty thousand likes, ten thousand comments, and most of them are just making fun of this guy. So as as is deserved, to be honest. Like, you know,
01:02:14
at my first billing, we don't condone bullying,
01:02:17
but we definitely don't condone
01:02:20
absolutely faking the funk like this guy's doing. The the the top comment that I like was some guy was like, hang on. Did you turn your ring light on before you this selfie because I can kinda see the reflection.
01:02:31
It looks like you turned a ring light on to take this selfie of you crying to post on LinkedIn.
01:02:36
And, that's like that just calls it out so perfectly. The the the inauthenticity
01:02:41
of the fake authenticity that this guy tried to tried to portray. I condone some type of bowling. I condone bowling in this guy because if the bullies had they done their job,
01:02:51
nerds like this wouldn't be going around existing.
01:02:54
This is the most ridiculous thing I've ever seen. I saw this, and I was like,
01:02:59
bullies, you failed us. How on earth did this guy get away with doing this? This is the You need, like, you know, in every ecosystem. It's like, yeah. Well, these, the plankton have to be there because they're absorbing this. And, like, you know, these parasites actually need them because of this.
01:03:14
That's why we need bullies.
01:03:16
Otherwise, shit like this is gonna run rampant if there's no bullying.
01:03:20
Yes. This guy, someone need he needed a big brother. He needed a big sister. Someone to be like, look, this isn't how you act. This is not This isn't the right way to behave when something like this happens.
01:03:31
You dork. I cannot believe this post. We're pro bully here at the my first million podcast.
01:03:37
There's just gonna be a generations of cool,
01:03:40
a generation missing cool kids because of this.
01:03:43
No. I saw this post, man, and I thought this was the definition. This is the definition of small boy stuff.
01:03:49
Like, when we say It's the definition of this is what we're talking about. Yeah. This is the This is this is small boy stuff. This is this is a small boy as it gets. I saw this and I was just like, oh, man. I've seen a I've seen a bunch of these, like, miss like, Henry Ward from, Carter wrote this letter of saying how he screwed up. And I was like, okay. That's cool. Whatever.
01:04:07
This is the worst example.
01:04:10
I've ever seen of this. I think that, what do you think's gonna happen to this guy's career? Like, if you're a customer of his, I'd be like, oh, we, like, your code must suck. Like, you know, like, if your if your product is even fifty percent as weak as you, it's not gonna work.
01:04:29
Do you know what I mean?
01:04:31
You know what I mean?
01:04:35
Did some of these comments are hilarious? They're like,
01:04:38
Brandon Braden, I understand these things happen happens for a reason. Focus on the positive.
01:04:43
Let it go. Rest easy, my sweet child. Best easy. It starts off with a serious comment. It's like, sweet sleep sweetly. My child.
01:04:55
Is that a man or a woman? This is actually the best content ever on LinkedIn. This is the best content on LinkedIn. Like, the comments, the the combination of the post and the comments,
01:05:04
on LinkedIn was the most entertaining you know, like, social media of the day from the from this one post. Dude, I was gagged in reading it, man. It was this was crazy. I I I felt embarrassed I just felt so embarrassed for him. You know how, like,
01:05:18
we talk about cringe stuff. I legitimately
01:05:21
cringed. I remember my face being like,
01:05:24
Like, I just had that. My face was changing shapes
01:05:28
reading in us. Yeah. Like, I have this tooth that's, like, a little sensitive, and it just started, like, ringing. When I read this. I was like,
01:05:36
like, I ate too cold of ice cream. Like, that's how it felt when I read this. It's just, like, this uncomfortable this uncomfortable feeling that I just needed to pass.
01:05:45
Alright. So that's the episode.
01:05:47
Can I tell your friends, tell your mom,
01:05:50
you know, go add us on LinkedIn? Go do what you gotta do. This is my first story.
00:00 01:06:10