00:00
So he's written, I think, five or six best selling business books, non fiction business books, and business life hack type books. And
00:09
was gonna do just another one of those, it would've been like, okay. Cool. Like, you know, going back to the, you know, what butter is your bread. Right? That's that makes sense. But instead,
00:16
He's like, I'm gonna build, like, a world like Game of Thrones.
00:20
He's like, I'm gonna build a whole thing, like, this. Like, I wanna it's an entire fantasy
00:24
world.
00:26
All the characters are roosters.
00:28
Okay? There's eight houses. They compete in the great games. And they do this, like, you know, then, you know, there's a war, and there's different classes, and there's all the all the things, like, if you create, like, a, a sort of a giant fantasy, like, you know, Tolkien or or Georgia or Martin style thing. And
00:44
along with it, there's, like, basically, an NFT, which you can buy that basically is not, like, is It's literally just like you're buying a piece of art, and you're buying a ticket into the entertainment of, like, watching him build this world out.
00:58
What's up? In this episode, we're talking about hanging out with Tim a guy that we've looked up to for a long time and some of the insights that he he shared with us. We talked about, meeting a real estate billionaire
01:14
and his model, how he built from scratch in seven years to about a billion dollars in real estate assets. We talked about the opportunity to build SaaS tools
01:23
for only fans. You're gonna wanna hear that. And then last but not least, Sam's got a, a friend who's created his own, I don't know, religion, sort of like the Amish people who love money.
01:33
Kinda. It is almost like Amish people who love money. I'm going to this thing. I'm gonna give a big update on it next week, but in this episode. When we start off, I'll tell you a little bit about it. I think you're gonna dig it. But, yes, that's the episode. Listen up.
01:46
Alright. We lost Can I tell you about a interesting call ahead with,
01:50
with your old pal? Tim Ferris. I'm so eager to hear this. I only asked you a few questions because I was waiting to to hear about this. So I interviewed Tim Ferris because
02:00
he's got like a new NFT project that came out today or is coming out today.
02:06
And,
02:07
one early day. You should,
02:09
yeah, called cock punch.
02:11
Right? So I was like, okay.
02:13
What's
02:14
that about?
02:15
And,
02:16
I was like, yo, you should come on the milk road and, like, tell your story.
02:20
And,
02:21
blah, blah, blah. And I've met Tim Ferris one time in my life. You've met a lot more than that, I think, because he was an investor in the hustle
02:28
and was kind of, like, lived around the same areas, you know, whatever. But I met him one time. And I guess I'll I'll just I wanna tell you three things. One,
02:35
it's pretty interesting to meet people who you've
02:39
really gotten to know through their content.
02:42
What what was it? The the only fans girl who came on here called it the parasocial relationship where it's like, I feel like I know a lot about you.
02:49
And to you, I'm a complete stranger, but, you know, I I feel like we're close friends because I know so much about you and you don't even know who the hell I am. That's how I feel with Tim Verde. That's how people feel with you and I, I bet. Yeah. Happens with with you and I.
03:03
And, you know, I was like, well, it's just like a weird dynamic It's not like bad or good. It's like a strange dynamic. It's a natural thing that happens with content like this. So I read the four hour work week when I was in college, and I got
03:15
You know, before COVID nineteen,
03:17
there was the four hour fever. And the four hour fever was what happened to you, right when you read that book. For the next four hours, you question every part of your life and you start fever dreaming about quitting everything,
03:29
you know, hiring a VA to do your job, going and living in Argentina
03:33
and, you know, like, basically creating some online passive income business is gonna give you seven k a month because that's your Freedom number. And so, like, and I know this because everybody I gave the book to, I'm like, look, you might wanna clear the schedule because you're gonna have the four hour fever as soon as you're done with this. Like, just don't make plans because you whatever they are, they're gonna get busted by this. And sure enough, that's exactly what happened. So four hour work week was one of those books that I found to be really, really -- Life changing. -- informative life changing, especially at the time that I read it. I was twenty, twenty one years old. Trying to figure out what I wanted to do with my life. And,
04:04
it was a new it was somebody saying, yo, here's how I live, and it was totally different than anybody else. Okay. So that's how I knew him.
04:12
You knew him in a different way. Could you describe how you knew him? And then I wanna tell you some of the takeaways I had from this interview? So I initially met him when I I was coming home at six AM from the hospital after I got a kidney stone. My wife was driving me, and I was sitting in the passenger's seat, and I was super messed up on morphine and all types drugs, and I pull up to my house. And I go, Sarah.
04:34
What the hell is Tim Ferris doing in front of our house? And,
04:38
I see him. I go, Tim.
04:40
What's up, bro? What are you doing here? And, he's like, oh, I looked on the flag. I was like, oh, sick. Hey. Got any cures for the kidney stones, and I just sounded like a total asshole. And then two days later, I see him again. I go, Tim, what's going on, man? I just wanna apologize. I I was come from the hospital. I was all hopped up in drugs, but I'm a huge fan. That's cool. You're you're you live around here. And then through that, we just started walking our dogs, like, in the park, everyone's involved together. And I would just see him in the park Then a few weeks later, I get an email from Tim saying, Hey, I wanna learn about emailing.
05:10
I like the hustle teach me about it. Can you go out, you can when you meet me at this restaurant in my neighborhood? I go and meet him at that restaurant and he goes, oh, what the hell? You're the dog guy. Go, what's up, man? He goes, why don't you and so I basically he cold emailed me, and I never told him who I was, and it was a total coincidence. And and that's how I got to know him. So
05:28
I wanted to say two things. One,
05:31
I'm gonna tell people my philosophy about meeting
05:35
people that you kind of, you know, admire or you think highly of in some way.
05:40
And the main trick that I have is
05:43
I admire parts of people, not the whole. Totally.
05:46
And this is a key key thing that I think a lot of people get wrong. They look at it and it's binary yes or no thing. Oh, this person, do you love them? Or do you do you not do you hate them? Right? Are they the best? Are they the worst? Right? Are they Are they your hero? Are they not your hero? And
06:02
I never think like that because when you meet people, you see this, like, full three picture of them and you're like, oh, like, no, for example, I'm at Tim First, and he was actually quite quiet in person the first time I met him. He's super quiet and shy.
06:13
He's a little bit introverted or shy. And,
06:16
and then when he did say things, I was like, oh, wow. That's, like, a little bit of the Tim Ferris that I, I, you know, I've I've heard or followed coming out,
06:24
but also I was like, you know, even though I love ten things about this guy, there's a couple things about him that I wouldn't wanna emulate. Right? There's six things I'd want a copy, let's say, about the way that Tim Farris lives his life. But
06:36
I was like, oh, you know,
06:38
something that's really important to me is, like, let's say kids are having a family, And I don't know if it's important to him or not. I don't know him that well, but he doesn't have that. So I don't wanna I don't wanna be him. Right? I don't wanna be a hole, but there's parts of him that I think are awesome that I would love to steal from my game. I think about this with everybody. I imagine you, like, standing over him and he's just sitting down and you're poking him with a stick and you're like, come on. Tell me life hacks.
06:59
Like,
07:01
come on. Yeah. Basically, what you did with your kidneys though, things like. You ever seem you know, these on your feet. What do you do? Yeah. What's this rash mean? I don't know, man. Ask a doctor.
07:11
And so
07:12
Same thing with Tony Robbins. I love Tony Robbins,
07:15
but do I love the whole Tony Robbins? No. I love parts of Tony Robbins. And some people are like, dude, what about that thing he did? That thing he said. My god. I don't I mean, I don't know about that. And if he did those, that that would be bad. But I love his public speaking. I think he's amazing at that. I'm that's what I try to steal from before I love his mindset around x y z, and that's what I've adopted from him. That's been really helpful. And this other stuff that's either not applicable or not admirable.
07:39
Oh, it's fine. I just don't take that. Right? I'm just walking through the farmer's market picking up little bits and pieces of people and being like, oh, you know, like, Connor McGregor now is, like, basically looks like he's, like, a roid head
07:52
you know, like, I don't know. He's got allegations of sexual assault that he's just coked out or who knows? This guy's nuts. But, like,
07:59
Kana McGregor from the years two thousand and fifteen to two thousand and eighteen. Yeah. You know, what they call the young hungry Connor.
08:06
That's the counter I liked. That was the things I drew a lot from, and I don't let the other stuff really tarnish that because I'm just only looking for the good And the bad, I just say, oh, somebody else can pick that that bad apple up. I'm not taking that out. Alright. So what about them? So that's just my general philosophy. Okay. So let me tell you some of the nuggets that I took away from this interview, because it was supposed to be, I mean, frankly speaking. It was supposed to be, like,
08:28
Tiffer's comes on the mochro. That's cool. That's like a bucket list item thing for me. But,
08:33
you know, for him, obviously, it was a good way to get the word out about his NFT project. So I thought, I I went in with, like, you know, pretty low expectations. Generally, when somebody goes on to, like, announced the launch of something. They're kinda just shilling that thing. He didn't do that. So that was kinda cool. And he said a bunch of things that were I would I would say life advice or money advice that I thought were interesting. Do you want the money or the life one first? Money.
08:53
Alright. Money one. So I was like, what, Tim, what are you doing? You know, crypto prices are crashing? What are you doing?
08:59
Are you making any adjustments? Do you look at the prices? He's a crypto guy by the way.
09:04
Yeah. He said he bought crypto. He bought Bitcoin for the first time, but, like, late twenty twelve. And been accumulating kind of sense. He's like, it's a, you know, significant thing for me. Not, like, you know, not everything, but it's significant.
09:16
He said last year,
09:17
q three twenty twenty one, he sold enough to cover, like, feel like he kind of covered his cost basis and banked a little bit of a win. And then the rest, he's just, like, you know, holding to to to see how it all plays out. And he was like, he said a couple interesting things. He goes,
09:32
I've made most of my money mistakes
09:35
selling early, selling too early. And he gave a bunch of examples. He goes, you know, I owned
09:41
I was the first advisor in Shopify super early on. And I own pre IPO shares of Twitter and Facebook.
09:49
And as soon as they went public, you know, you know, Yeah. So they they grow, they go public.
09:54
And, you know, in that first year, they all hit, like, turbulent times, and they, you know, stock went way down. He's like, I just as soon as the lockup was over, I just sold because stocks going down. I was kind of a novice in public markets. Frankly, still a bit of a novice in public markets. I didn't know what to do. So I just sold. All of it. He's like
10:10
yeah. All of it. I I he didn't specify that, but he made it sound like all of it. Wow. And he's like, Those are massive financial
10:18
mistakes, you know, like, selling Facebook, Shopify, and Twitter, like, right when they went public,
10:24
you know, six months after is when the lockup ends is, you know, he's like, these are, you know, hideous financial mistakes that I've made. He's like, and it wasn't because
10:33
I he's like, there's he's like, he's like, so I learned what when do you sell? So he goes,
10:38
I now go into any position. I I only buy if I know what conditions I would sell under. He's like, so most people have no exit plan. They don't know when they would sell, how long they plan to hold, or what would cause them to sell? He's like, I now have a plan when I go in. I know what would trigger me to sell. So if I'm gonna deviate from that plan, I better have a really strong reason. Because the second thing is I don't sell now because, you know, the price went down. I sell if something I believe before, I now have new information that tells me that's not true anymore or I'm surprised about. He's like, so for crypto, for example, he's like, I haven't sold, but I haven't sold that because
11:10
I'm like,
11:11
you know, more confident than ever. He goes, frankly. I just haven't done the homework to go figure out were any of my initial assumptions wrong? I haven't done that homework yet. And he's like, that's what I'll do. I'll go talk to my smart friends, the ones who helped me get into this, and I'll say, you know,
11:26
is there anything that you used to believe that longer believe about crypto or anything that any red flags that have come up for you that didn't go in line with your initial hypothesis.
11:35
I wanna hear those before I make a decision on what I wanna do. Thought that was extremely reasonable, and I thought that the the sort of selling early,
11:42
mistake is something that, you know, I I've shared on the pod too that, you know, like, I sold Tesla early when there was, like, you know, I basically lost five million. I've lost out on five million dollars had I held.
11:52
But I, you know, there was a bunch of bad news and I didn't know what to do. And so then I just sold. Right? And and by the way, for the Shopify example, it looks like six months after it was around two dollars and fifty cents a share at its peak. At its peak peak, it was a hundred and fifty dollars. So that's something like you know, a million dollars of shares that he had, which he definitely could have had would have been like fifty million dollars,
12:14
which is like very substantial.
12:17
And so he, you know, he was pointing out, you know, my mistakes in investing haven't been buying the wrong thing. The biggest mistakes have been selling the right thing too early.
12:26
And, you know, that I think that might be, you know, he's like, you know, I don't know if this applies to everybody. He's like, for me, that has been, you know, some of my largest kind of, missteps.
12:34
Okay. So then the second thing, he was talking about, this project that he's doing, this NFT project. And I was like, so this is kinda crazy. I don't know if you know what he do you know what he's doing? Do you know what he's doing? Do you know what he is? I know that he's always been interested in non fiction writing or sorry, fiction writing. Like, he's always the one to write, like, stories. And for some reason, he hasn't until now. And I think this is, like, his first fictional
12:55
story or book or series of podcasts and it comes with an NFT. Right?
12:59
Yeah. Exactly. So he's written, I think, five or six best selling business books, non fiction business books, and business life hack type books.
13:08
And if he was gonna do just another one of those, it would've been like, okay. Cool. Like, you know, going back to the, you know, what butter is your bread. Right? That's that makes sense. But instead,
13:16
he's like, I'm gonna build, like, a world like Game of Thrones.
13:20
He's like, I'm gonna put a whole thing right like this. Like, I wanna it's an entire fantasy
13:25
world.
13:26
All the characters
13:28
are roosters.
13:29
Okay? There's eight houses. They compete in the great games. And they do this, like, you know, then, you know, there's a war, and there's different classes, and there's well all the all the things, like, if you create, like, a, a sort of a giant fantasy, like, you know, Tolkien or or Georgia or Martin style thing. And
13:45
Along with it, there's, like, basically an NFT, which you can buy that basically is not, like, is it's literally just like, you're buying a piece of art. And you're buying a ticket into the entertainment of, like, watching him build this world out. It's a book, like, one book? It
13:59
It's not a book. It's like, I think it's just like long. He's like, I've written ten thousand words, but, I don't think he's gonna release it like a book. I think he's gonna release it in some other way, like essays or chapters or podcasts and, like, other. Okay. He's playing with different formats. I don't think he knows exactly how he wants to come out yet. So anyways, pretty interesting. I was like, dude. So why are you doing this? He's like, well, he said a couple nuggets. He goes,
14:20
you know, I'm having the most fun when I'm creating something. And that's what gets me into flow state. And so he's like, so I knew I wanted to create something. And I wanted to
14:30
if I just did another non fiction book, I don't feel like I would have that magical feeling of being challenged and satisfied at the same time. Yeah.
14:39
And
14:40
he go he goes, he goes, I talked to the guy from who did Stephen Pressfield who, I think, wrote, the war of art.
14:49
And he goes,
14:50
he goes, you know,
14:52
he has this concept of a muse, which is, like, the project you're working on or, like, you know, the the thing that you're you're you're playing with. And he goes, you're doing your muse a disservice if you don't go big.
15:02
And, he goes, so I decided, like, if I'm gonna do this, I'm gonna go big. And he goes, like, big is not,
15:09
I have to write, like, an eight thousand word book or whatever, like, a it doesn't page book. Like, this big doesn't mean, like, literal volume.
15:15
Big means I have to go to a point where I'm uncomfortable with this. And my friends are calling me, and they're saying, Tim, are you okay? Sure. This is what you wanna do. And he's like, That's how I know that I've, like, pushed it into a a realm that's, like, something interesting is gonna happen. And that's how I deal with this podcast?
15:32
What do you mean? No. With him coming up with a nonfiction thing called or a fiction thing called Yeah. You wanna call him and be like I'm like, yeah. I'm like, you know, you have nothing to lose here because, like, you know, you're set. You're fine. This is creative, that's cool. But, like, it's kinda weird. What are you? What what are you doing, man? I think, are you okay?
15:50
Yeah. Exactly. And he goes, that's when I'm gonna basically do the things that are off the beaten path, something that I haven't done before, something that is new and interesting and novel. And so that's how he was talking about this thing. I was like, okay. I love that advice.
16:03
The second thing he said, I love is along those lines. He goes,
16:07
he goes, I go, so I go, what if we're just sitting here, like, you know, a year from now? Got a beer. We're like, dude, what happened with cock fights, man? That story was that was gonna be that project was crazy. Like, where did it all go wrong? Like, if it all goes wrong, What do you think your answer will be if we're we're looking back at it a year from now and it's just like the the yeah. That went that went totally wrong. What is the core risk? It goes.
16:28
I've thought about this a lot. It's a good question. He goes,
16:31
if I end up managing the project instead of creating it, I think they will have all gone wrong. He goes, because
16:38
a, he goes.
16:40
He goes, anything great comes from, you know, staying at it. He goes, so I have to do the things that give me energy because without the energy, there is no endurance.
16:49
And that, like, really resonated with me. He was like, you know, with no energy, there is no endurance.
16:53
He goes, so I gotta spend my time on the things that give me energy. For me, that's drawing and that's creative writing. So I have to do those parts. That's also the parts that'll those are my super powers. That's what I'm good at. And I'm driven. He he draws, like, like, like, he did the background was, like, illustrations and comics. Like, that's how he gave, really, and stuff like that. He's like a sketch artist. And I think that's what he originally wanted to do was be a cartoonist in some way. A fascinating person. And so he was like, you know, those are my two powers. I gotta spend the time on that. If I just end up spending time managing this thing, and it feels like a lot of administrative work. I know that for me, that gives me no energy. Therefore, no endurance. Therefore, I won't stay with it. Therefore, the great things won't happen. And I thought the self awareness was really key. And this is something that I know as I think about my next projects, these are the types of, like,
17:37
You need to have, like, these strong ass pillars or tenets of, like, this is what it this is what I am doing, and this is what I'm not doing. And if I do this, I think it'll work. And if I don't do this, I know that it I will have trouble And I think that self awareness was pretty baller. Dude, that's awesome. He's he's always been a pretty wise person. Even, like, you know, I think he wrote four hour work week when he was maybe a little bit younger than you and I, like, at he might have been only thirty when he wrote it, and he always was pretty wise, man. He he's he's he's always had, like, insight, and that's a really good insight about the energy and the endurance thing.
18:07
He had another one that goes. He goes, I go so,
18:11
It was on the topic of failure. He goes, he goes, I should first say that I kinda rigged the deck in my favor. And I was like, what do you mean? And he goes, You know, I,
18:21
I go into a project thinking, how do I win even if this fails? How do I succeed even if this fails? And so he goes, I think about it in terms of sure there's the, like, you know,
18:32
do a lot of people read this thing and, you know, does it become popular or does it become financially successful? Sure. Those are things, but, like, he's like, I want to win even if those hard things don't happen. So he goes, I will only pick projects
18:47
if I know that the act of doing it, the creative process of doing it is gonna be awesome. If the people I'm gonna meet along the way doing this are gonna be awesome. And if the skills that I'm gonna develop doing this are gonna make me more awesome. And so he goes, if I do those three things, if I know that the skills, the knowledge, and the network that I acquire along the way is gonna make it worth it for me, then I don't have to stress about the the popularity of the financial income
19:11
because I'm gonna win in either case. I'm gonna win if if just those things happen or I'm gonna win even bigger. If the other happens. So he goes, I pick projects where I can stack the deck in my favor, and that's what I've done here. And is this still the life it or the money advice or the life one?
19:25
Now we're in the life advice. Yeah. Dude, he's good, man. He's a really interesting guy. I,
19:30
what's he doing now? So he just, like, is he Is he treating that as, like, that's been his, like, forty hour work week? Like, that's been his job job,
19:37
for Yeah. He's been he's just going ham on this for, like, you know, close to a year now. And he's like, dude, I've just put so many so many hours into this. He's like, yeah. And which is funny because people are criticizing like, oh, dude. You're doing it. And then is like another celebrity doing an NFT, it's just a cash grab. And I, like, I told him this on the call. I was like, dude, that's crazy to me. First of all, he's donating a hundred percent of the proceeds to, like, his charity that does, like, the research on, like psychedelics and stuff like that to treat PTSD. So so all the primary sales are going there. Right? So that's, like, you know, most, you know, that's a huge chunk of the financial reason you would do it. The second thing is,
20:13
if you just count, like, the number of hours it takes to do this world building type of thing, Like, he's gotta be working for minimum wage, basically, just in terms of the number of hours it takes to create something like this. And third, if he was gonna do a cash grab NFT, he would have done it last year. He wouldn't be launching it now. And he wouldn't be giving away the money to charity, and he would be, like, doing it in a way that's,
20:31
like, not doesn't require him to, like, build out this whole fictional world. Like, he would just be like, hey, here's a picture. Hey, meet this this gives you five minutes to talk to Tim Ferris. Right? That's what he would do. It's just like a cash grab if he wanted to do it. And so I thought that was like, you know, doing all the funny criticism. Tim has like a really interesting celebrity. Ryan Holiday has this too. And I know I've known a few guys that have had this where there's people I look up to, and then there's people
20:56
who the people I look up to look up to. So, like, Ryan and Tim, they both get, like, all these football coaches, all these, like, politicians, these
21:05
rich billionaire types. All these interesting, like, powerful, traditionally
21:09
powerful people will reach out to them in, like, hey, sensei. Show me the way. What can I do about this? What should I do next? And I have always found that type of celebrity to be incredibly fascinating.
21:20
And so, like,
21:22
I mean, he'll Tim will, like,
21:24
not in a bad way, but he'll, like, name drop all these stories, like, on the pot. I was like, yeah, you know, I was with Ed Ed Norton recently. And he was telling me, like, this, this, and this. And I was trying him, like, figure out what to do. You know what? Like, he, like, tells these stories or is like, when I was with Jimmy Fox, he was asking me about this.
21:37
And, I've always found that celebrity to be so fascinating. I've always what his life is like.
21:42
I also I asked him another question. Oh, I go, you know, you're one of the most, like, prolific interviewers. You've done, I don't know, six hundred episodes of of interviews on your podcast. It's one of the top, I don't know, five or ten podcasts in the world.
21:55
And,
21:57
as I say, I go, you know, If you had a chance to sit down with Sam Bankman Freed,
22:01
and interview him, you got a couple hours with him. How would you approach it? And I thought his answer was pretty interesting. So he goes,
22:09
He goes, it's a tricky one because
22:12
I don't know going in. How much of what he's gonna tell me is the truth or a lie? And so he goes, But I'll tell you how I would approach it given that that's the problem. He goes, first, I would
22:23
my goal initially is just to get him off of his party lines, get him off of his PR script. And so he's like, I would go and I would try to talk to as many of his old friends and coworkers as I can and ask them, you know, if I if you, you know, you must be surprised at what's happened here If you could ask Sam one question just genuinely heart to heart, what would you wanna know the answer to that I can maybe ask on your behalf? And then he's like, I get those. He's like, then in the interview, I would use their name to kinda soften soften him up a little bit. Yeah. I talked to James who, you know, was your colleague roommate and knew you before any of this stuff. Right? When you were just a guy blah blah blah.
22:56
He said he would wanna know this. Like, what would you say to James? Because it's, like, saying to James versus saying to Tim. I think it's, like, interesting. So I thought that was an interesting tactic. He goes, that gives me good research, but also maybe can get him to just, like, deviate from the same repetitive loop of answers he's gonna give to everybody else. He was the second biggest thing. He goes, I'd be pretty direct echo.
23:16
What percent of what you say to you know, before we do this, what percent should I assume
23:21
is true of the things that you're gonna tell me? Is it a hundred? Or is it less than a hundred? And, like, you know, if it's less than a hundred,
23:29
I understand that. But why? And you guys another version of that would be You're doing a lot of media.
23:35
What do you what do your lawyers think of what you're doing? He's like, because they might make him laugh. And get him to kind of talk about his motivations for why he's even doing an interview like this. Because it seems kinda counterintuitive to be doing all the stuff. No lawyer would tell you to tell go go on
23:50
do this up. He goes, the last thing, he goes,
23:52
he goes, you know, I would,
23:55
he goes, I would he goes, I just wanna know the guy's fundamental beliefs because seems like he's not stupid. He's got good hardware upstairs,
24:03
and that's why I wanna know what its beliefs are. You know, am I just supposed to assume that he's just a bad person. He was a criminally minded person. And for a long time, he planned to do this criminal behavior,
24:13
or was he did he have the right intentions?
24:16
And then somewhere along the way, made a bad ethical decision
24:19
under some stress or pressure, and that led him down a path of making the wrong decisions, you know, like and he's like, that's what I'd be trying to figure out. And, you know, I would try to,
24:29
to understand, you know, his,
24:31
you know, his thinking around that and tell him that's what I wanna know. I wanna understand that. Thought that was pretty cool. So I'll I'll wrap up with one last story about Tim. So and this what you're saying kind of,
24:42
like, he'll he'll say these things, sometimes in interviews,
24:45
as if he's coming off the cuff
24:47
or that he's like just thinking out loud. I have never met someone like him who prepares
24:54
for everything.
24:56
He prepares
24:57
for every single thing.
24:59
And this is quite different than you and I. You and I are are totally cool improvising. And you would think someone like him who's interviewed all these people or has talked publicly for so many hours that they can improvise.
25:09
Maybe he can. But from my experience, he is not someone who improvises, and he everything he says, the words are chosen very, very specifically. And so you, like, he'll say this line, like, oh, I don't play a doctor on TV and I don't pretend to do that. Like, he'll say that line and, like, that's just, like, he must have heard that somewhere. He's like, okay. That's actually a good line to that's a good brand message. Disarm. Yeah. I'm gonna keep saying that. And so another thing that he'll do is, like,
25:35
one time I interviewed him for the hustle,
25:38
and I interviewed him on the phone, and then I transcribed it. And there was a couple instances where I made an error, so he was right to yell at me. And he didn't yell at me, but he was just like, no, this is that's not what I said. And we're talking about like, I I would write the word hadn't instead of had not. He said had not, and I wrote hadn't. So I was in fact wrong. And he, like, very specifically called that out.
25:58
And he did that so or he's like, no, there shouldn't be a comma here. There should be a period and then a new sentence or, like, these, like, incredibly
26:06
incredibly If if he did that, then he's gonna be pretty pissed at this interview because I definitely like Dude, you know, move stuff around to help him. No. But he does not like that. And I don't blame him. He is so specific about his brand. And in fact, if you go and see the, like, For example, there's this conference called two twelve that I went to. And Tim went and he gave a testimonial for it. And if you read the testimonial, it's very specific where In his head, he's like, well, I can't endorse anything. Like, but I but what I can't say is, you know, Adam hosted a great conference.
26:36
They're wonderful. He's he's a wonderful person or, like, like, you know, like, some people will ask us, you and I. Like, I've asked you to do a testimonial for something, and you're like, just write whatever.
26:46
No, not him. Everything about his brand, like, what you see out in public and what he writes,
26:51
he is very specific and it's all incredibly well thought out. Like, we almost had him speak at a conference or something like that, and we just, like, went through we just started chatting about it, and he was, like, wanting to know exactly who all was there. And I'm, like, do you mean dude? Why does it matter to you? Just like fucking wing it. Just talk. And like, that's not his style at all. Like, it it was all incredibly precise,
27:12
well thought out. It's all and everything had a purpose. And I've I've always found that to be very admirable about him because I remember being pissed off when he he didn't yell at me, but, like, he kinda, like, had a tone where he's, like, no, that's I said, this is what I said. I remember being upset about that. And then I was like, no, man. He's right. He's he he's has a brain and he's sticking to it. And I always thought that was really interesting.
27:32
Yeah. Well, alright, Tim. I'm sorry. I did, definitely chop and chop up the interview to to try to make it shorter and better. When did it go live? When did it go live? It's it's already live. Too late. Tell me if he replies to you. That's gonna be the follow-up. I bet you he will. He he won't
27:47
he's very specific about it. And I and I appreciate that. You're right. I had told him I was like,
27:53
he's like, he's like, yeah, I'll do it. You know, just send me the questions in advance. So I wanna make sure I can prepare and do do the best job I can. I was like, well, I don't know the questions I'm gonna ask you. So, okay. I guess I'll do the work now. And so I did it. And then he's like, okay. Cool. For this question, I think we should do this and this and this. But I was, like, wow. This is, like, way more in-depth than anybody. And then even during the thing, he's, like,
28:13
he did an audio video test earlier. Blah blah blah. It should be good because he's, like, whatever in some foreign country right now. And he's like, you know, I,
28:23
and then on some of the answers, she's like, okay, stop. Can we, I redo that. I think I was not being clear there. And then he would like you again. And I was like, wow, we're so different, but I get why
28:33
being the way that you are
28:35
leads you to have the type of brand and and success that you have.
28:40
I am so different than that. I am, like, you know, complete
28:44
I'm, basically, like, the equivalent of a food fight, and he's like a Michelin Star restaurant. Exactly. It's so fascinating. Throwing mashed potatoes around and getting it everywhere. And he's, like, you know, drive that perfect place. Dude, I remember we were with our dogs, like, walking and I go, oh, that's a cool dog leash.
28:59
And, like, or, like, cool dog collar or something. And he And I was, like, expecting him to be like, oh, yeah, I got an Amazon. It's pretty great. He was like, oh, this thing, you see, this comes from, like, this rare, like, African horsehair.
29:12
And, like, he had, like, some in-depth story about it. And that was my and then I noticed every time something we had these conversations, everything about his life. It felt very purposeful,
29:22
high intent. INTential. Yeah. I thought that was fascinating.
29:26
Yeah. That's cool. It really highlights, like, it's, like, you see a twelve out of ten at being very intentional,
29:33
and then you're, like, Oh, wow. I thought I might have been an eight or a nine. Actually, I'm a four. Totally. He's very specific.
29:40
Alright.
29:44
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29:46
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29:57
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29:58
Alright. You wanna do another one, ears? Yeah. Let's do some other topics. Okay. So,
30:03
where do you wanna shift to? Maybe some ideas?
30:06
What's the is Spotify interesting?
30:08
Or real estate insights. That's I'm interested in that. You said maybe, but let me give you the real estate thing real quick. So I talked to somebody. I can't say their name.
30:17
But, I like where it's going. Who
30:20
has had who has built, I would say, in the last seven years, I think it is. Yes. Seven years.
30:27
They built a real estate portfolio owning about a billion dollars of real estate assets,
30:32
where with forty percent debt,
30:35
So sixty percent is equities, about six hundred million of of equity in these properties.
30:39
And Do I know this for third? Started seven years ago,
30:44
from zero and has zero ability to, like, zero network, zero ability to borrow only, like, skills. They knew they thought they knew what they were doing, and they were able to build this up. Okay. So I was talking to him. And I was, like, I was, like, you'd and he does retail in a specific and he does retail real estate. So, basically,
31:01
or, I guess, in their world, they would call it commercial estate, but what I mean is, like, retail stores. So he'll buy a shopping center. And the shopping center will have a
31:10
you know, a hobby lobby
31:13
and,
31:14
you know, a Starbucks and whatever. And there's, like, you know, six spots, and he'll basically own that center, and then he'll he'll get it at least, he'll buy it, he'll build on it, he'll lease it up, and then he'll either hold it or or sell it after that. And
31:27
He's basically compounded his money. I think about I I was doing the calculations afterwards.
31:33
He's compounded his money like, sixty percent a year,
31:37
for, like, seven years or something like that, even maybe even a little bit more. And
31:41
so think sixty percent was the minimum that I calculated was was possible for where where he was at. I think it's is is a little bit little bit north of that.
31:49
And I was like, dude, I was like, again, I was like, first of all, this is crazy. Congratulations.
31:53
Second of all,
31:55
my worldview is that, like,
31:57
do shopping centers? Like, is this still a thing? Like, I I aren't you
32:02
is this not dying? Like, in my world, in the tech world, we're just, like, everything's going online. Everything's e commerce.
32:08
Yeah. You're go you're swimming against the the current.
32:11
And
32:12
I go, am I just wrong about that or what's going on? How do I I mean, the hobby lobby folk always gonna need a lobby to hobby, bro. Like, they're they're they're they're
32:20
going in real life. Like
32:22
So so that's what he said. He goes, you're right? He goes, butt.
32:26
There are some specific trends,
32:28
some specific categories that are going completely anti trend and expanding some people probably. Because I go I go, how does it work? He goes.
32:36
Like, what's your edge? Like, what are you doing differently than anybody else? Because you're getting a dramatically better result than anybody else I know in real estate. And he goes, well,
32:44
I'll get a call from, you know, the owner of, you know, whatever. Dollar General or something like that. And they'll say, hey, we're not the owner, like, like, an executive someone an executive there, you mean? Could be the CEO, could be the head of of real estate, whoever. Somebody somebody at the top of these companies. And they'll say, look, we're trying to get into Lexington, Kentucky.
33:03
You know, we wanna be in that geo, and we are we want more stores in that geo.
33:08
Can you make this happen?
33:10
And I'm like, And he's like, so then I go make it happen? I go, no. No. No. Slow down. Slow down. I go, so what
33:15
why do they call you? He's like, well, they've done business with me. I'm like, okay. Great. But, like, why aren't they calling a broker, like, or somebody in Lexington.
33:22
And he's like,
33:23
he's like, he just start laughing. He's like, he's like, you know, ours are or even more specifically. I'm like, then you have to find the right location. He goes, no. Sometimes they'll just tell me. We wanna be in this location. I was like, why don't they just contact the guy from there and, like, just do the deal? And he's like, I'm like, they have re these companies have real estate teams. He's like, oh, he's like, yeah, they do. He's like, but he's like, three things. He goes, number one.
33:46
Most of the owners of these places are like a pain in the ass for them to deal with. He goes, they know, I'm easy to do business with. Why?
33:52
Most owners don't wanna invest in their properties. They won't do any tenant improvements.
33:56
I will invest money to build out the stores the way they want.
34:00
And because I've been willing to do that, They want they would prefer to work with me over any other developer or, like, the average developer because I have shown that I can build fast, and I will invest my own dollars into building it.
34:12
Okay. Second thing. And I go, but doesn't that guy just think, like, man, if I just did this, he goes, yeah, but it's speculation.
34:17
He goes, I know because I have these relationships, I know they'll come through. That owner would have to, like, on spec invest in in maybe improving something part of their property in order to make it more inhabitable. I'll just do it. And and by the way, so he gets the Hobby lobby, like, interest, then he can go get a loan and tell the bank, hey, I got interest,
34:34
in this. Therefore Not even that. He'll he'll get the interest.
34:37
Then he'll go tie up the property. He'll commit to buy it. But he doesn't have to have the money right away. He has ninety days or whatever. He's got to, like, close. Yeah. Thirty days, sixty days, whatever it is. And in that time, he then goes to get Hobby Lobby to sign the lease. Then he goes to the financiers. He says, here's a here's a property with assigned ten year lease.
34:56
From a, you know, from a highly reputable client. Can I now get financing? It sounds like the best business ever.
35:01
Yeah. Exactly. And they're like, oh, I'll be able to cycle down to business anytime soon. You have a ten tenant. Yeah. This is an easy. This is all easy.
35:08
So then he was like, he's like, I was like, okay. So, okay, I kinda buy that the mom and pop owner of these, like, you know, they own, like, one or two shopping centers shopping centers. They're not, like,
35:16
they're more scared than they are. It'd be more fearful than they agree. They're not investing in it. Okay. I buy that. Some people might fall into that. What else? What are your other edges? He goes, I don't die by paralysis by analysis. He goes, these guys will
35:29
something on page seven of the lease will get them all tied up. He goes, they'll just get, like, some covenant
35:36
they're really worried about. He goes, I have, like, basically, like, a standardized deal with these guys. My leases are, like, clean and simple.
35:42
And, like, you know, I'm willing to bear some risks. These are not, like, the most ironclad bulletproof. Every every inch of every part of my body is covered and can't be exposed.
35:51
He's like, you know, I just don't die by paralysis by analysis. Like, these guys will just die in the deal making process of the lease because they get worried about stuff that really doesn't matter. I've been doing this for long enough that I understand Look, if things go wrong, I have a plan b, a plan c, plan d. I don't have to make plan a,
36:06
this completely fully insured thing. Mhmm. Okay. That's interesting. Tell me more. And he goes,
36:12
He goes, the other thing is that,
36:16
they will have, like,
36:18
he gave me some other deal making points, but I'll I'll leave those of those are, you know, maybe a little, like, I don't know, personal or secret of, I guess. But I go, okay, what about these tenants? I go, who are these who trying to expand. I thought the whole retail landscape is like shrinking and collapsing.
36:32
And Amazon's killing everybody. He goes, yes. But there are certain categories. So he goes, anything DIY. So Hobby Lobby is an is an example of this. DIY people like to go in. They like to see the stuff. They like to have the stuff. They need a bunch of inventory in a big space. So they're willing to rent these big stores. He goes, another one. Anything that caters to the black and Latino community, he goes, For some reason, those groups are not buying online as much as, you know, white, white or Indians or other other races because they're not buying online. Their stores are still thriving. And he goes, and I asked them, you know, like, why do you think,
37:05
it'll be like, burlington Cove Factory. Got it. Or, things like that. Like, for village cofactor, he's like, a lot of these places, they're not just like, oh, I just need a shirt. Let me go buy the shirt. Okay. If you wanted to do that, on might be more convenient or ordering online might be more convenient. Oh, like, I need a coach for a lot of these communities.
37:21
It's a hangout. It's like, this is the one place we go when we leave the house. We go for an outing and we go to this place. And, he's like, so that is like a big piece of, like, it's like part of their lifestyle is to go to stores and hang out and You gotta do the whole do the whole nine. He's like, so those stores are all thriving.
37:39
He goes, the third one is anything that's, like, super low end. So dollar store,
37:44
style style things because they're actually cheaper than online, and they don't have to have the shipping problems. And so people, if if you want the lowest price, that's still the place to go.
37:52
Fourth is he goes, like, your wife and my wife, home goods and home improvement. So go to home goods. It's like, he goes, they're treasure hunt treasure hunt experiences. What's that? Like a TJ Maxx or home goods? TJ Maxx Ross,
38:06
home goods,
38:07
things like that. He goes, they go because there's a joy in finding an amazing deal. Yeah. And so they they don't want the most efficient experience where they just go online and they just buy the thing and they're done. There's this actually like the joy of the hunt. So they wanna go to this big messy store and they wanna find gems and they wanna do that. And again, that's their outing. That's their fun. That's their hobby. And so the retail store still really matters. And so he gave me this, like, list of categories that were, like, still expanding. And I thought that was pretty interesting. It's, like,
38:34
some of the the nuance that you don't really pay attention to unless you're, like, in that field. And so I just appreciated kind of talking to somebody. Super fascinating. Those are stuff in that area. How many people work at this person's company?
38:45
Like, less than a dozen?
38:48
No. It's probably, like, somewhere between twenty and thirty, I would say, overall. Man, that seems like
38:54
It seems too boring for me. Like, I I I think I would I for some reason, I pick things that probably make less money, but a more dopamine hit. Generally boring? But they do high deal volume. He said he had done, like, eighty or a hundred transactions this last year, which is just and that's doing a real estate deal every three days, basically, which is just an insane amount of volume. He's like, there's a reason that's not normal, but, like,
39:16
the whole real estate world has shifted. So I needed to shift my portfolio.
39:20
Accordingly. Like, what are my what are my generational holds?
39:25
What are my, you know, quick quick opportunistic buys? And then what are my b properties that I need to offload because interest rates are changing and the real estate market's about to, you know, crash. So I need to do this. He goes, I remember lot he goes, I remember in o eight I was the guy who was like, I'm gonna do real estate, like, because real estate had been good for, like, you know, eight straight years. He's like, so I was running into the burning tap tunnel. And people are just handing me properties. I'm like, wow. This is incredible. He goes, now I realize you wanna be the guy on the way out. Ham, hey, here you go, bud? Have fun. Have fun with this property. Yeah. It's all the papers, all the numbers look good because last five years have been fantastic. Last seven years have been fantastic.
40:03
The next seven years might not be the same. And he's like, you know, I know now he's like, now I've learned which which way to go in the tunnel when it's burning.
40:10
Skills or attributes does this person have? You think that sets them apart?
40:15
Extremely
40:16
aggressive.
40:17
They are. They're aggressive.
40:19
When you talk to them, you almost feel, like, at any given moment, like,
40:24
let's say, are we are we are we laughing? Are we fighting? What's happening here? Like, They're a very friendly person. Stop that. It's not nothing wrong with that. But they are aggressively minded where it's like, we play to win
40:35
like, the way they raise their kids is to win. It's like,
40:38
like, their kids, like, you know, if they do something bad, they don't go to time out. They do twenty burpees.
40:43
And it's like, you know, you know, that's like, just like standard. It's like, okay. Before dinner, we're gonna go run wind sprints. And then, like, you know, that's just how we do things before dinner.
40:52
And, like, girls, boys, two year old, ten year old, it doesn't matter. Like, whoever you are, this is how we how we roll. Well, now your back's gonna work. You just gotta launch it lawn care duty. Yeah. I mean
41:03
Exactly.
41:04
Like, there's a there's just a play to win mentality. That's the first thing. Second thing is giant giant chip on shoulder.
41:12
Massive insecurity,
41:14
daddy didn't love me.
41:16
Daddy was mean to me.
41:17
People said I wasn't shit.
41:19
People said I would never be something.
41:21
Hold on to that. Use that as fuel.
41:26
And that same thing that kind of like and, you know, they'll say, like, yeah, that just stuff doesn't bother me anymore. It's like, yeah, but you brought it up to me. Times in the last three years. So, like, I think there's, like, you haven't let it go. That's for sure. You know, I think you've used it to a very, very productive end for sure, but that that chip on older is, like, you know, what do they say? Chip on shoulder equals chip in pockets,
41:46
chips in pockets, that that's what's happening. So,
41:49
that's the second trait. Third is
41:53
Amazing at deal making negotiation,
41:56
deal making, gift of gab.
41:59
Spends very little time in front of computers, spends a lot of time in front of people, or on the phone. Tons of time on the phone. And, like, I feel like for our generation,
42:07
Like, how much time do you Did I fucking hate talking on the phone? I just clicked in there. Talking to, you know, potential business things on the phone. Like, I spend essentially zero. And in fact, if even if there's a business opportunity, they're like, hey, I'd love to do a call. Like, I just tell them straight about, hey, I hate doing calls. But if you write it down, like, I'm happy to respond I wouldn't even listen to it just to like a voice memo.
42:27
Yeah. Like, I'm not I'm not doing any of that.
42:29
That's hilarious.
42:32
Yeah. So this person spends a lot of time on the phone, and they do that to gather tons of info. And they'll just if I they're like driving a bunch, they'll just dial Okay. I'm I'm driving four hours to go see this property in that time. I'm gonna make fourteen phone calls or whatever. And I'm, hey, brother. What's going on? What you seeing? Oh, what happened to that property you had out there? Oh, you having trouble? Well, send me the numbers. Let me take a look. Maybe I can help you out blah blah blah, you know, like, and they're just constantly surfacing opportunities or information. Oh, guy's doing having some trouble. Interesting.
43:01
Like, oh, this person, you know, they're underwater there. Oh, I know how Hobby wants to be there. So I'm gonna, you know, okay. Good. Let me let me make that happen. And so they just find these these fields like that. Yeah. That's one of the traits. Did I love it?
43:14
Very different.
43:15
Honestly, pretty standard for the real estate world. None of the things I said so far are, like, shocking to anybody that's in real estate.
43:22
But for us, in the tech world, it's a very different play style. It's totally different set of strengths,
43:27
you know, activities than what we do. So for us, it's like, oh, that's cool. That's new. That's crazy to me. Dude, by the way, my father is like that. But he owns a business where when he spends his winters in Florida, he brings a phone that plugs into the wall and he brings a fax machine.
43:42
And the it's just constantly calling like, hey, what you got? What's what you hear and what's good? And, like, the his company, you know, sells millions and millions of dollars worth of stuff And it's just with a fucking phone, a fax machine, and mailing checks, and just constantly call them, like, hey, what you got? What you hearing?
43:59
It's like, that's just how the business is. It's crazy, man. And they kill it.
44:04
Par here, talk to me. That's what they do. They go, what? They go, what's good, brother? What's going on? Whole call people nephew. What's up nephew? What's good?
44:14
You gotta work on a barber I figured it was a toll non nephew. Nephew.
44:18
You gotta be black and in a barbershop. I can't believe. Well, I'll do that just away with that. That's amazing. I like that. I'll be like, what's up, Matthew? He just calls people nephew.
44:27
Is it your blood?
44:31
He just calls people nephew.
44:33
Our you wanna do one more?
44:35
Let me tell you about a space that I've been
44:39
poking around in. It's not something I'm gonna do, but there's definitely opportunity. You know, I poked the the beehive
44:44
and I heard some buzzing. I don't wanna go near it, but, like, somebody who wants honey,
44:49
That's a very good analogy. Piece together that analogy.
44:53
I don't know what the next word was gonna be. You just have words coming out of your mouth, not sure how the gonna end it. And it's already found its place. Wonderful.
45:01
That was really satisfying. Alright.
45:03
So,
45:04
so,
45:07
Only fans. Okay. So we talked about only fans a bunch, but let me tell you the angle that I'm thinking about here. So
45:14
By the way, I do not give a shit about only fans. Everyone talks about only fans. The only thing I care about is BrAP Barbie. Do you know who that is? I think that's her name.
45:24
Bad. Bad. Is that it? Bad Bobby. What what what did you just say? I thought it was BRApp. I thought it's Brad, the barfing. Isn't there like an r and an h it the first word? Just the h. Just the h. Wait. It's bad. That's how you spell bad?
45:37
Yeah. Much up stupid. I feel like you I feel like you're up speed, Bad Bobby. What? What's your name? Bad Barbie? What's your name? I don't know.
45:44
Bad Baby. I just know her as the catch me outside girl from Mari, but,
45:48
or Doctor. Phil or some bullshit. Anyway, that's the only person I know. And it's like Did she changed, like, races?
45:54
Was she black now or white? What is she supposed to be? She's white. She's now black. Oh,
46:00
wow. I mean, senior to Google. Google
46:04
bad, baby.
46:06
Alright.
46:07
Whatever. She she she switched. She's Jewish and her mom's Italian. She really And then and then
46:14
Now she's being, like, criticized because she's, like, the people say it's, like, modern day blackface because she's, like, really, like, changed her look.
46:24
Like, when she was on Doctor. Phil, she looked like, you know, the, I don't know, like, a spoiled white girl or something like that. And, anyways, whatever. It doesn't matter. Point harvey, she kills it. She kills it. And, like, apparently, she bought, like, a twenty million dollar twenty million dollar house.
46:41
So whatever. So
46:43
bad part b. Point is
46:45
company crushes it. So they do billions of dollars in revenue.
46:50
The owner whose name is now public, so we can talk about him. Leo, He's a fan of the pod, friend of the house. He,
46:57
I think they he cleared or or, you know, like, the the company cleared five hundred million in profits in twenty twenty or twenty twenty one. Like, just an insanely profitable insanely
47:06
big business. Okay.
47:08
And what is only fans? Only fans is basically like a
47:12
storefront
47:13
where anybody can sell
47:15
pictures or videos. So you're selling content.
47:18
And so
47:19
you know, I do I do e commerce. I come from the Shopify world. I know that in Shopify Shopify is your storefront. That's your equivalent of only fans. But you use, like, this whole host of tools around it to make your store sell better to increase sales.
47:32
So you'll use Klaviyo
47:34
to, you know, grab people's email addresses, and then send them automated emails. I know where you're going with this one.
47:40
You use,
47:41
you know, this app to
47:44
boost your, you know, to upsells automatically,
47:47
right, to cross sell or upsell new products so that you increase the dollar value per customer. So use all these different things.
47:53
Only fans kinda has none of this stuff, but it has the same volume and the same, like, you know, like, seriousness
48:00
of any of these other big
48:01
storefront slash marketplace type of ideas.
48:04
And so I think there's a whole world of only fans SaaS tools that could be built. And they're just So, like But do they have an ecosystem system?
48:13
Like, you don't need you don't the the they just use it on their own. You don't have to, like, plug into only fans. You just, like,
48:20
there's not like a platform you have to go won't be approved to sell under to be an app. Like the way Shopify does, you gotta be in the Shopify app. But do they have, like, the so oh, so they don't have but there's no only fan's App Store.
48:30
No. You you just you just sign up and you just use products. So for example, there are products that are like chatbots. So what they do is somebody follows you or they subscribe,
48:39
either they're a free follower or maybe they're paying the five dollars a month subscription.
48:43
But what you where you really make your money is what they call pay per view. And so that's where you sell like, oh, I did a photoshoot,
48:50
whatever, like, you know, I dressed up like catwoman.
48:53
Pay nine nineteen dollars to unlock, right, that piece of content. And so what these bots, these SaaS tools are doing is they basically are, like, Hey, we will go message all of your followers as if it's you being like, hey, did you see my catwoman thing? I think you're gonna love it. I'm like, twenty four hours later.
49:12
Like, picture three in the album was, like, just for you, wink face, whatever. Right? Like, this is just a bot. And what is this? This is a sales rep. That is going around for you doing sales and selling your content, selling your product.
49:23
And so the all the tools today are pretty rudimentary.
49:26
They are pretty,
49:28
or they're just, like, they're just missing certain things from certain ecosystems.
49:31
And I think somebody could
49:34
Do what, what Andrew Andrew Wilkinson did with e commerce. One hundred percent. Or where he basically rolled up a set of plugins and tools I think that you could do that in the only fan's world. Now to do this, why am I not doing this?
49:46
Well,
49:48
I don't wanna deal with people on only fans every day. I don't wanna be, like, selling this content every day. It's not like
49:54
what's it called? Like, it's not my
49:57
Yeah. Yeah. We've put on this earth to do. Yeah. But we got a bunch of friends who are less,
50:02
you know,
50:04
a little little Less, different state. Different state. Yeah. Different state. Maybe we were gonna say lower or higher standards, we'll say more wide.
50:13
A wider standards. Yeah. They're not left or right. Yeah. It's not it's not a, you know, Our bar is up here. It's what else is bars out here. It's just it's a little it's a little wider.
50:23
Yeah.
50:26
So if you're one of these wide standard fellas out there.
50:30
I think there's a lot of opportunity. If your moral compass is a little wobbly,
50:34
And there's a whole lot the whole ecosystem. Right? So you wanna start an agency, only fans agencies do really, really well. Right? Because they take care of the back office, they take care of growth for for these only fans creators.
50:44
I know two people personally that have built only fans, like, just SEO optimized websites that are, like, search engines. So it's like, find a creator, discover a creator, search for a person. Oh, way. Who? And they're like metric sites.
50:56
And they've built them, and they're either, like, cash flowing really, really well, like, you know, to the tune of, like, a hundred grand a month of free cash flow, or they sold them for, like, two, three million. Is one of them called fans metric?
51:07
I don't wanna say it because I kind of already said some numbers. So
51:10
yeah, there are,
51:11
like, man, we know too personally that that did this. And so metrics, like, in any ecosystem, same thing with Twitch, it was like, there was a metric site. The metrics I got big. Then there were streamlabs and streamlabs made it easy for somebody to, like, accept tips and donations.
51:25
And and they made, like, a alert system so that every time you got a tip or donation, you could automatically
51:30
acknowledge that person, which which leads to more tips. And that streamlabs became an indispensable tool for every Twitch creator. What is the streamlabs
51:38
of only fans. Dude, that's so fascinating.
51:40
The these are the there is so much opportunity to build
51:44
SaaS tooling for these creators to build agencies, to build you know, a whole bunch of different, opportunities around this ecosystem because most people aren't gonna go there,
51:53
myself included.
51:54
And
51:55
If you do go there, the two it's like new and growing so fast that the pie is big, but it's not totally saturated the same way that Shopify feels quite saturated or, you know, tools for I iPhone developers or whatever seems pretty pretty saturated. Do you follow,
52:10
have you ever seen that TikTok guy who goes up to people with fancy cars. And he goes, Hey, what do you do for a living?
52:16
Yeah. Of course.
52:18
What's his name, Brandon Mac, I think, or something Mac?
52:21
It's awesome.
52:22
And -- Yeah. -- for some reason, all of it feels like all of the ones lately have all been it's always hot girls, and they, like, make jokes. And then they, they finally admit that they do only fans.
52:32
And only fans is one of those ideas when when I heard about it, like, five years ago. I'm like, who the fuck's gonna pay for that? Like, just Google it. Like, you'll you'll see the same thing. Just like, Yeah. Google that person's name followed by the word nude, and you'll, like, find exactly what you want. Like, why would you pay twenty dollars a month for this? And, obviously, they proved me wrong. And it's gotten to be such a huge thing that
52:54
it seems like if I go to LA, do you see a hot girl at a fancy car? Like, just based off my me scrolling in bed at night. It's like, oh, they they're definitely an only it's an only fan's model. And that is, like, totally new and strange to me, and that is what has made me feel like, oh, this is, like,
53:09
going to be much actually much bigger. It's it's it's significantly more mainstream than I ever thought. Like, no one would make, like,
53:16
maybe now people will make jokes about porn hub, but, like, every guy out there has, like, five or ten porn sites that they go to and never in a million years would they say out loud what it is. Do you know what I mean? And Yeah. In fact, I'm not even gonna say any words for the rest of the segment.
53:31
And now, it's like only fans is, like, a thing that, like, well, we we talk about because it's, like, so mainstream popular. I find it to be incredibly fascinating. Like, even just in the last four years, we started mentioning the word pornhub, because they would do funny skits, like, during the Super Bowl or they would, like, you know, do fun. It's, like, become a joke, but that has just happened. By the way, one good idea was just to do another only fans. And so I forgot what it's called fan fansly or fans only. I think I think it's fansly.
53:59
Fansly is just like
54:01
if you don't wanna be on only fans, come on fansly.
54:03
And they're just like, well, we'll we'll be number two. It's fine.
54:07
We'll we'll make some different decisions like we allow whatever, like,
54:10
you know,
54:11
I don't know what they're different. Like, cartoon creators or something like that. Like, you know, I, like, it can be like a digital thing or whatever. There's, like, there's seven minute ad some fans' leads is gonna be six minute apps. Like, yeah, it's the same thing. We charge you only nine percent instead of ten.
54:23
Exactly. And so and then they're doing pretty pretty pretty Like, they do they do to do fairly well. And when
54:29
and so I think there there was just this was just one of those winning ideas. It was one of those really big winning ideas. I don't know if I told you this, by the way. I had a buddy who was a VC
54:37
who
54:39
kinda quit his job and was gonna raise, like, his own fund.
54:43
And then he was just, like, he identified, I think, three years ago.
54:46
He goes,
54:48
only fans. And I go, what? And he goes, only fans. It's gonna be massive.
54:53
I go, I think it's already pretty big. At that time, it seemed pretty big for what it was. I was like, dude,
54:57
how popular can this get? Like, that's What's it worth now, you think? What what could it sell for now? I don't even know.
55:04
I don't know. I think very, very conservatively, two billions, my guess, and aggressively closer to
55:12
ten. I don't know. You know, it's hard to say. Like, the the all the market, like, multiples just got changed. So it's hard hard to know. Also, you know, there's not that many buyers for only fans. So this is a problem with those things. That's that's what I was want getting at. Yeah. Can't really go public, and there's not that many buyers, but it's super super profitable. And so my buddy was like, gonna be big. I'm gonna spend the next year trying
55:31
to get ownership in only fans. I go, what do you mean? Like, just, I guess, you're gonna reach out. He goes, But if it doesn't work, like, I'm going to find a way to get ownership and leave. I was like, what? He's like, yeah, I'm just gonna, like, I'm gonna invest in it. I'm gonna help them. I mean, to do anything I can. And he literally made that his mission for, like, a year. Did he get it? And he did it. He was able to, like, they didn't let anybody invest,
55:51
but they guy was able to go in and get advisory shares by helping them out in all these different ways. And he did it. He got a piece of it, and he was right. He sent me. He goes, I remember when Twitch acquired us, he goes, only fans will be bigger than Twitch. I got bigger on the Twitch in a way. And I was like, dude, I don't think you even know. Twitch is like one of the top six, like, most visited websites in America or something like that. Like, most most traffic or something. And he goes,
56:13
yeah, you'll see. And,
56:16
and he was right. It passed Twitch in terms of
56:19
users
56:20
and revenue
56:21
in the last year. And and I was like, wow. This guy really, like, called his shot. Of being super, super bullish on lonely fans. He was he was absolutely correct. Dude, what? This does he also own six hundred million dollars for the real estate? This guy sounds awesome.
56:34
No. Different guy.
56:36
Yeah. I mean, I'm on board. I think I think, you know, We commerce is an interesting company. We commerce is Andrew Wilkinson, you know, fan of the pod or a friend of the pod, he comes in all the time. Their market cap is decimated right now. It sucks right now. Their business is is pretty good. Like, it's a good business.
56:53
I it's way undervalued.
56:55
But it
56:57
I think it's an interesting model. And, yeah, I'm I'm on board with your aggressive friend who pushed his way into only fans.
57:04
Do you do you have a pregame
57:06
Routine you do before this podcast?
57:09
I listen to music,
57:10
and I review all my notes. That's about it. Like a specific song or just, like, generally whatever whatever is on. Well, I I use Pandora and then I,
57:19
one hour before. So I have my schedule locked in. So for the people listening, we record for one hour. And so we're usually here at the top of the hour, then we start. And then one hour before that, it's my quiet time where I, like, review everything.
57:32
A quiet time night. Well, like, people are, like, messaging me and I'm, like, yeah, I can't talk to you right now. I'm preparing. And so it's my time to, like, read notes and, like, I scan the news, and I just wanna know what's going on in the world. Yeah. My daughter has that. That's great. Quite time. I love it.
57:45
But my sister invented this great thing because she's like, dude, my kids don't wanna sleep. And
57:51
They just wanna play. And so she's like, I gotta turn, like and she's like, I don't even care if they're asleep. I just want them to go to the room and just, like, not talk to me. I just stay in the bed and, like, have fun. So created nighttime sister playtime.
58:03
And so it's just like hilarious thing where they're like, oh, it's nighttime sister playtime and they get to go run into their beds and, like, the two sisters can play together, but they have to be quiet. Because it's nighttime sister playtime. Nobody else is allowed in, which means don't bother mommy and daddy. And I just thought, what a hilarious rebrand
58:17
of go in the room, shut the door and shut up. And
58:21
so that now whenever I'm doing something, like, even work wise, like, with, like, coworkers and, like, our e com thing or whatever, I'll be like, alright. It's nighttime's sister playtime. Like, that just means, Don't talk to me. Don't bother me with Slack and don't talk to me. I'm gonna go do some work now. That's what I had. Mommy, daddy gotta go do things. Dude, I just, like, I blame everything on the pod. I'd be like, hey, can't prepare for the pod. Don't talk to me, please. Because everyone knows it's like a deadline. Why? Do you have a routine?
58:45
I got a well, I kinda have one, but I was making fun of myself this morning about it. So
58:50
My schedule's similar, I think, to you where now the the morning is all locked in where it's, like, I work out at a specific time. And then at the end of the workout, I do my, like, ten minutes of, like, mindset stuff that I do.
59:01
And
59:02
and it's, like, it's really good. Everything's really healthy, but it's almost comically healthy where I was doing it today. And I was, like,
59:08
I was like, what am I I was like, I'm that cliche
59:11
tech guy that's like -- Things have changed. --
59:14
fasted car yeah. I do my fasted cardio,
59:17
and then I I you know, seven and a half minutes in the sauna, then I, you know, eleven minutes uninterrupted staring at the sun.
59:25
It's,
59:26
I have I have sex for three minutes, three times a day. It's a study show that's better. Like, you know, I'm, like, doing all these, like, life optimization things that really I'm, like,
59:35
I'm not a huge fan of those things because I feel like individually,
59:39
I like all of them. But together,
59:42
I'm like,
59:43
Am I this delicate that I need to be, like, this, you know, like, am I, like, I'm not, I'm not one of these, like, perform f one cars or whatever that's like, you know, has to be like perfectly balanced everywhere. I don't wanna be so fragile. You you are what you are what you didn't wanna be now. I think that's good. You look better. You look I think you look significantly better than you did three years ago. That's for sure. Yeah. But that could be that could be anything. Who knows? Who knows what that could be? Wait. Let me tell you really quick. I don't know if that's the morning routine because that's that's been more recent. Speaking of morning routines, I gotta tell I I was actually excited to tell you about this. So I'll tell you about it more when I'm done with it, but I met this guy on Twitter named Isaac French. Do you know Isaac French?
01:00:21
He's that guy who No. But it's a strong name. It's a strong name, and that's why I got interested in him, frankly.
01:00:27
But he Like, he's that guy who,
01:00:31
has that not gonna lie French. I'm here for your name.
01:00:36
Dude, Isaac French is his name. I met him on Twitter. He's he's the guy who, he bought up, like, a five acre plot of land and, like, built cabins on it and turned it into an Airbnb that's making, like, millions of dollars in sales. And, buddy, he, like, he's only twenty five and he, like, architect and Oh, right. We featured him on the path a long time ago. And he, like, called you and he told you all the numbers and all that. Yeah. And he, like, architect the whole thing, and he, like, is also an accountant. So he did all the accounting, and then he even, like, hired all the builders himself. So he was the general contractor. Just this interesting guy, I hung out with him. I met him on Twitter. We act I haven't eventually met up with him. He's really fascinating, and he's part of this
01:01:12
religion, I guess, is the right way to describe it called Homestead
01:01:16
Heritage.
01:01:16
And, basically, if you're if you're an outsider,
01:01:19
it kinda looks like an, like, a mennonite society a little bit. You know, like, what mennonites are?
01:01:25
No. What is that? You ever seen Amish people?
01:01:28
Yeah. So this is, like, he would not say that they're the same and they aren't. But from an outside perspective, it all, like, looks a little similar.
01:01:36
And so Those are the best descriptions where it's, like, they'd be kind of offended at this, but this is what it is. Well, they're they're, like, objectively not the same, but, like, if you go I posted their website in the in the thing,
01:01:47
in the chat, you'll see guys wearing, like, those big wide hats and, like, there's, like, a cow or, like, a horse, like, tilling the land in their alongside it. And, like, a lot of the women wear, like, the long dresses and, like and so listen to the description of their religion. I it's a religion, but it's also a community. But listen,
01:02:04
Homestead
01:02:05
Homestead
01:02:06
Heritage is an agrarian and craft based intentional
01:02:09
Christian community. Its literature stresses simplicity,
01:02:13
sustainability,
01:02:14
self sufficiency,
01:02:15
cooperation,
01:02:16
service, and quality craftsmanship.
01:02:19
And so it's this, like, Super. I don't understand any of that. What does that mean? What does any of that? Yeah, dude. It's it's hard to explain it's hard to understand if you don't know, but I spent time with them and he's taught me all this. But, like, basically,
01:02:31
somehow, they
01:02:33
they derived from, like, from the Bible or something, but, like, it's their, like, it's their duty or something to, like, create, like, high quality craftsmanship like stuff and to, like, farm on the land and be sustainable. And, like, there's you find god and, like, doing hard work and good work and being honest and creating stuff with their hands. That's, like, again, this, like, huge generalization
01:02:54
from a massive outside perspective.
01:02:56
But basically,
01:02:57
they, like, like, make their own food. So if you they own a five hundred acres in Waco, Texas, which is about two hours of ish from Austin, and they, like, all of their food is, like, made on that land and, like, within the community, they share food with one another, and they're also pretty savvy at business. Like, I don't know how that kind of comes into this, but, like, they, like, he's an he's an accountant. And so he's like, oh, I just love, like, being diligent with numbers. And I'm like, oh my god, you're making me weak at the deeds, my bad. Like, telling me stuff. So anyway, this weekend,
01:03:28
he's having, like, their it's like their festival. They do, like, a festival where you can go in and buy, like, their artsy crafts. And I'm driving ninety minutes to go there and, like, we're gonna, like, sing Christmas songs and, like, by arts and crafts. And I'm incredibly excited to show you, like, or to report back about what it's like. This community is so fascinating to me. And so it's kind of interesting. I'm imagining, do do you watch the office, you know, when,
01:03:53
Dwight has his Airbnb?
01:03:54
I'm imagining that too. Yes.
01:03:57
Shruit farms. Like, that's what I'm asking, and you're gonna go meet Moes.
01:04:01
Wow. That is that is incredible. You know,
01:04:04
if you told me If you live this way, you can live till two hundred,
01:04:08
I might do it then. That
01:04:11
that is how big the cost is to me of, like, yo, go make go till your own food. I don't even know what tilling is, to be honest with you. I don't know if it's something you do with your hands or your feet. Right? Like, what what what is tilling? I think it's when, like, a cow, like, pulls the wrong like, a rake or something and it, like, moves the soil, then you could, like, plant shit in it. I don't know. But Yeah. Dude, it I'll watch that show. I would bet my Well, I bet you these people are pretty happy. I think that there is, like, happiness and simplistic simplicity, but, like, who the hell knows? Everyone's unhappy. But, anyway, that's what I'm doing this weekend. I'm I'm gonna report back.
01:04:42
Well, I like that it's kinda like amish people that love money. That's kind of already intriguing. Right? Like, you know, tell me more. Which is basically, like, have you ever walked around in Brooklyn? And, like, I know Ben Levy who's here, like, lived in this part of or ish in this part of Brooklyn. Have you been around, like, the Orthodox Jews
01:04:57
No. But you've said they, like, run the place and do it. Right? They run the place, man. And they, like, you'll walk around in parts of Brooklyn, and they'll be speaking Yiddish, or you go to certain stores and, like, everything's in Yiddish, and you're like, am I in a different country? This is wild. And they kinda, like, like, you, like, help others in the community. It's really fascinating. I love these. I actually like those cultures. I think it's really interesting that those exist.
01:05:19
Alright. I think that's it for today. I'm gonna save the rest for next episode.
00:00 01:05:40