00:00
What they're doing is,
00:01
they basically take, like, a vacant property. Same thing is the spirit store. They take a vacant property. They say, hey, we'll cut you a check for ten fifteen grand if we can use your Right? Or they'll they'll they'll rent a property or they'll find a vacant property.
00:13
And they basically just use it for the month. They have this operational thing where they could just spin up the haunted house. And then they charge, like, forty bucks, you know, to enter, and you can sort of do the math and realize, man, they're they're probably making half a million to a million dollars in about a, about a month.
00:34
Alright. You wanna go with Rahul? Or you wanna go with Rahul? Alright.
00:38
Troll of the year. We haven't even done on my or Millia Awards for the end of the year thing that we always do. I'm calling it now. The troll of the year.
00:46
Give the background. So Elon takes over Twitter. I guess the purchase went through. I feel like there was never confirmation. Like, he he actually wired the money. He just literally showed up at the office and, like Yeah. There there there hasn't been, like, a proper river ribbing ribbing ribbon cutting moment. Like, it's not like It was probably just water. Just, like, went into the office and they're like, yes, you own it now. You seem to be here. It's mine. Yeah. It's mine.
01:09
Like, play on rules. Like, wow.
01:11
That's all it took to have Twitter.
01:16
Have you ever heard of, like, a coup, like, a coup, like, with with governments?
01:20
You know, I was I I read a lot of Yeah. They're pretty cool. Yeah. They are. I read a lot of history history jokes or history jokes. I read a lot of street books about, whatever. And they talked about, like, a coup, and I'm like,
01:31
so you literally just, like, walked into the White House and you just said, like, you know, this is mine and, like, the general has promised me that he's gonna convince these soldiers to attack. You know what I mean? It's like an interesting con concept. You're like,
01:45
So it's all just made up, I guess. Like, these rules that we're we we live by. This is just this is fiction. And that's kinda like what I felt like he did. He just walked. He's, you know, like, Well, I I own this now. Thank you.
01:55
Did have you seen, you know, Derek Lewis, the UFCFutter? Have you seen that compilation of his thing where he says, just get up?
02:02
No.
02:03
So they're like, Derek, you're big, like, knockout artists, but, like, you know, the the the knock on yours always been, like, what if you're getting a wrestling thing? You know, how's your jujitsu? Are you training?
02:12
Jisjitsu ain't real, man. And they're like, what? And he's like, man, you don't need jujitsu. Just get up.
02:18
And they're like, well, he's like, why wanna stay on the ground. The another man between my legs. No. I'm not into that. Like, I'm not gonna do jujitsu. I'm just gonna get up. They're like, but you you need jujitsu to get. He's like, no, I'm just gonna get up. And so then there's a there's a clip of him saying that. And then there's a, like, a six minute compilation of, literally, somebody takes him down. He doesn't do just he just stands back.
02:38
So so powerful. That's how I feel. That's what Elon Musk did. He's just like, nah, just walk in.
02:43
Yeah. Take it. What do you mean? He's like, well, I'm just gonna in with a sink.
02:49
And take it. So anyway, he does this thing where he just he says this is mine. And there's all these reporters outside of Twitter's office,
02:58
and something for a story. They're waiting for the story about something going wrong. Elon comes here. Oh, there's a protest. There's a walk in. And so
03:06
the what what happens is the first store big story that happens is There's a picture of these two guys
03:12
and, kinda like, you know, kinda like
03:15
nerdy sort of engineering looking guys. And they're holding giant cardboard boxes.
03:20
And it says these two data scientists, the data engineers, data scientists were fired today from Twitter,
03:26
hear their scene walking out with their possessions and their boxes.
03:29
And,
03:30
and I saw it and immediately something looked a little off.
03:34
Because I was like, this guy just looks so goofy. But I was like, man, that's pretty believable, you know, that's much of goofy looking people are working tech. But, okay. Oh my god. He looks wow. They man, they really found perfect character. He looks looks pretty goofy. And then I read the name, and he says But he but he but he had a box in his hand. So each had a brown box, like,
03:51
Which is just foreign because, like, if you work at a tech company, like, you you don't even probably own anything. You own enough just to put in a book bag. Put your laptop in your backpack. Yeah. And, like, if you do get fire, do they even, like, is that a thing where you, like, hand people a a box anymore? I don't know. You know what I mean? They they played it perfectly. So then it says, Rahul Ligma and something Johnson
04:08
we're fired today. Daniel Johnson. We're fired today blah blah blah. And then and I saw that and I was like, oh my god. This guy executed
04:16
a lingman, like, For those who don't know,
04:20
Ligna is a, is a little joke that people play on the internet where it's like, ligna, like, you say something blah blah blah. Ligna. And then someone's like, Ligma? What's, like, I'm not familiar. Yeah. Ligma nuts. Alright. So that's the joke. And they did this to basically, I think CNBC was the first one who, like, reported it, and then it just kept getting the same photo kept getting spread ever because everybody wanted this story about And the lady tweeted,
04:41
she was this CNBC reporter, and I I the original tweet said something like, we're at the scene of Twitter. These two engineers just came out who said they're the first to be laid off, and it's just so clear how defeated they are and like there's like an audible or what does she say? She's like there's just a visible
04:59
They're just visibly defeated and totally broken. And Rahul Ligma says, now he has no idea how he's gonna be able to afford his Tesla payments.
05:08
And and then he's sitting there holding a Michelle Obama book.
05:13
And so it's like him with his box just holding this Shell Obama book. I don't know why. And he just said, and she tweeted out, like, you know, this is just they say the first of many that's going to happen. It it was just like a crazy crazy scene. So people are,
05:29
people are are are have heard this part of the story, but now we got that my first million exclusive juice on top of it. So Somebody in our group chat knows this guy who did this and he shared a text message that the guy sent before he did it. So he goes,
05:43
He goes, yo, bro, and the person says sup. He goes, are you doing anything in the next hour? Wanna help me pull off a stunt? I'm at the gym, and I need a box, l o l, I'm a walk out in front of the Twitter office with a box in my hand. There's hella TV crews outside.
05:58
And then
05:59
This is literally how we pulled this up and he just goes. He gets an empty box in a Michelle Obama book. There's nothing else in the box. And he walks out in the TV cruise
06:08
go for it. And so the so that was, I thought, amazing. And then he so that was, like, I mean, what kind of genius is this person? Then he goes.
06:15
There's Helen Beeakers. Let's go get them.
06:18
He goes, bro, the media is so dumb. I literally put five minutes of planning into this. Even my uncle in India has seen the picture now, He goes. And he goes, and the first thing goes, did you just see the cameras and just walk out there? He goes, yeah. Basically, I got to the gym. It's near Twitter's headquarters.
06:33
All these cameras and so I just went to
06:36
amazing. That is so funny. The better who is this guy? He's like a founder of, like, a tech start basically. You just did this for fun. Oh my god. Yeah. I'm I am ready to invest. And his thing says, like, stealth startup. So I'm, like, I'm ready to invest in whatever he's he's doing.
06:51
Any evaluations. There's tele TV. There's tele TV cameras.
06:55
Name, name your price, Ligma.
06:59
So so he goes, okay. So that was him. Did you see the interview with the other guy, Daniel Johnson?
07:04
No. He also had a little gem. So that his was on video, so they're like, You know, how do you feel about this today? He's like, I don't know. I just gotta, like, I gotta go home. I gotta talk to my husband and wife and regroup
07:18
I I don't know. I just I just really wanna go home. I just really wanna go home. Talk to my husband
07:23
and just prefer
07:25
it. The most san francisco thing ever. I don't even like it.
07:29
Did anyone comment on that? The news didn't even, like, they just played the clip. And then I saw that. I was like, wow, that is the funniest thing I've ever perfect timing that these guys are, like, you know, pretty geniuses, basically. So Yeah. This is pretty gold. Amazingly well played.
07:46
I don't do you wanna talk about the Elon war room? Like, what he's actually doing in there? Like, do you wanna talk about that or not really? Have you false? Not really. I mean, like, I I read that he said, like, hey, guys, you have a week to get this one thing done. And I think that that's cool. That's that's a good way to run things. I'm nervous he's gonna screw it all up and, like, because I make money from Twitter, so, like, I don't want it to go away.
08:05
But, of course, just a chill bro. Yeah. Yeah. Like, I got consulting calls to take. So,
08:13
I don't really care, though. Like, when he talks about this shit, I'm like, it doesn't impact me that much. I I don't I don't care what you're gonna do. Well, I I just want I I don't care. It's not gonna impact me, but I do find interesting how he's going about this. So, basically, the report is he goes in. And and the first report, I thought, again, was another troll, but I guess this is real. Do you see this? He's he told every engineer
08:32
to print out all the code that they've committed and that they've written in the last three or six months and have it ready for review. Did you see this? Why print? So you could just see the the page link. Those. And then they changed their mind. Like, I guess they realized how bad of an idea that was. And, like, you know, an hour later, they're, like, shred the papers, actually. We're gonna review on the computer. Just be prepared to review. And so people are, like, all these engineers, like, printed out, like, you know, three hundred pages of code. I guess I'll just thread this. I don't know what's going on here. Dude, and what's crazy is, like, if you go to business insider dot com, the headline is, like, you know, think it says, like, the toil of working at Twitter, and it's, like, painting it, like, these people. Here's their This is what it's like
09:14
to toil at Elon Musk's Twitter. The expectation is literally to work twenty four seven. And Does it really say that that's -- That's what he got. -- straight clown behavior? Well, I cannot believe they're doing that.
09:26
I can believe it.
09:27
And it and it says, this is it. One of the people familiar said, describing the feeling of the company under Musk, your job is on the line. It's like, dude, your job's always on the line. Like, is it, you know, like, this isn't, like, it's not your right to work at Twitter. You dumbass.
09:42
But I,
09:44
I thought it was funny because, like, come on, man. Like, you're you're coding. This
09:48
yeah. You're gonna have to work fifty hours maybe for a little while, but also
09:52
think a lot of employees at Twitter are probably like this is awesome. We've been sitting on our ass. Let's let's do it. And that side doesn't seem to be getting covered a lot. Yeah. And so he created, I guess, a war room. So he basically brought in a bunch of people he trusts. So he brought in people from his other companies. Like, he brought in his chief legal person. That guy's now, like, the general counsel, basically, He brought in. He created a war room, and then here's who's reported to be in the war room. It's,
10:15
Elon,
10:16
his, his his chief counsel, then it's Jason Calicannas.
10:21
Oh, I think Jason's Jason's amazing, but, like, what the hell does he know? I got something like that. Sriram from a sixteen z. So just venture capitalist who's, you know, former PM used to work at Twitter is also, you know, had to run at Twitter.
10:34
And Clubhouse and,
10:36
Snapchat.
10:37
Yeah. And then and then also,
10:39
I guess, like, some other people, some engineers or people from, like, boring company or Neuro Link or whatever, like, some people he trusts, like, his cousin is there. Like, And they basically just set up shop and they were like, alright.
10:48
Well, we're gonna do with this thing. And they're like, change change a locked out page. It forces you to sign up. No. You shouldn't be able to read tweets before you sign in, you know, you sign up. And then, which is, like, an experiment's been tried many times before. And there's, like,
11:01
you know, we need to have this verification program. You have days to deliver this, I guess. And so they're they're just, like, sort of, trying to figure this out of, you know, who stays? Who goes? What are we building? How are we gonna turn this thing around? And,
11:13
Fascinating. I wish I could be a fly on the wall in this, in this war room. I think that'd be, like, probably the most interesting thing to do right now. I think it would be awesome.
11:21
I hope they don't screwed up though, because I got some fucking
11:25
courses I gotta sell. So don't screw it up. You're gonna screw it up a lawn. My my point of view has always been very simple, which is And all the things he complains about are things that, like, power users would be annoyed at on Twitter, like the bots problem
11:37
or
11:39
you know, verification
11:40
or the algorithm, you know, like not serving me the tweets I want. Like, the problem is that just only, I don't know, whether we're, like, three hundred million people use Twitter. And it's, like, you know, five times smaller than, like, the other big social services, and it doesn't really grow that much. And, like,
11:56
it's not like, you know, my mom doesn't use Twitter because she's like, oh, there's too many bots. If I tweet about crypto, that will tell me to buy crypto. Like, that's not her problem. She just doesn't see value in it. And, like, you know, you got Jesus says, I don't get it. Yeah. I don't get it. Well, I I don't know why I would need this. Like, you know, I don't I don't need to check this, whereas Instagram and WhatsApp and, like, Snap chat have all given her a reason that she needs to have it. Like, she needs to have Snapchat if she wants to see more pictures of her kids. She needs to have Instagram if she wants to keep up with what's going on with, like, Bollywood or whatever. Right? Like, you know, everybody finds a need in the service. And, like, that's the core problem with Twitter is that the core needed addresses is only for, like, people like and, like, it doesn't address the need for a whole bunch of other people on the planet. And if they wanted it to be more valuable, then they would need to do that.
12:43
Software's the worst. Have you heard of HubSpot?
12:46
See, most CRMs are a cobbled together mess, but HubSpot is easy to adopt and actually looks gorgeous. I think I of our new CRM. Our software is the best. Hubspot.
12:56
Girl better.
12:57
Happy Halloween, dude. Yeah. You too. I I'm not twelve. I don't dress up. I I don't understand, like Shot fired at producer Ben.
13:06
Well, I just, like, don't understand why people, like, obsess over Halloween. To me, it just seems like
13:11
When your wife was buying a wedding dress where you're like, this is bullshit, you're going to spend all this money for something that you're literally going to use for three hours in your entire life and that's how I feel like Halloween is.
13:22
Wow. Chosspartout wives, Chosspartout Halloween.
13:26
Well, I mean, our, like, you you know what I mean? I just find it, like, be the most impractical thing there is. It just it's it's a lot of work for, like, a few hours. Bro, you probably bought, like, a a giant sled. So you could do sled pushes in your backyard. Like, you know, come on. I'm sure you have some ridiculous purchase up your sleeve too.
13:44
I have a sled.
13:48
Call it.
13:49
Producer, Ben, what are you? You you look more like a figure skater or some, like, like, a figure skater in between rounds. Like, that's what you get. I don't I don't always wanna put the hood on, but it's a narwhal. It's got, like, a little horn on top. Little horns, my wife has a matching costume. A narwhal is just,
14:05
the whale that has a, yeah, the If you're if you're a parent that I get it, but, like, for the people who work really hard at, this stuff, to me, I'm just like, that just seems like such a waste of time. My wife loves it. She's just a person.
14:17
Yeah. My wife too. She, like, we bought a bunch of costumes or whatever. I'm aladdin. Which is pretty, you know,
14:24
stereotypical, I felt.
14:26
You know, lean in, bro. Is it racism if it's your wife?
14:30
Yeah.
14:31
Lean in. Say lean into it. I got the Sheryl sandpaper book. I'm gonna lean it in. That's a sheet, man. Lean into stereotypes.
14:40
But speaking of Halloween, I did a bunch of research about Halloween. I wanted to rant about it to you. I'm sure you know a bunch of things about Halloween because I feel like this is, like,
14:50
Like, I'm not gonna say that because this is a rabbit hole that's kind of obvious. And I feel like, you know, I I went into this rabbit hole, and I saw some footprints on the way out. I was like, that Sam size lemon right there. I don't know what's going on. But let me tell you some things I found. Okay. So,
15:04
first and foremost, Halloween. Okay. What what the heck is this? So this was a
15:09
it's kinda crazy that today Halloween is this, like,
15:12
family neighborhood thing where everybody you know, young kids are going out and getting candy.
15:18
Older kids are dressing up, you know, with an excuse to dress up, like, kinda slutty. And, like, you know, this is, like, you know, this this giant giant occasion where people are spending ten billion dollars a year now on Halloween is what gets spent, which is kinda crazy. That's more than almost any other holiday except for Christmas, which is off the charts that almost a trillion dollars get spent on Christmas. And so,
15:39
So I was like, what the heck is this holiday? Who made this up? Where did this come from? It's first of all, it's, like, some weird part of, like, you know, the Celtic calendar, the celtic calendar. I don't even know what it is, but, like, basically it's like Yeah. Yeah.
15:52
The Boston Celtic. As you know. Yeah. So this new thing called Yagging. It just has a soft shave.
15:58
So so there was like, alright, there's like this, you know, festival where they would, like, they're like, oh, the demons are coming. And so they would, like, dress up as demons themselves and, like, you know, dancing again, whatever, and that was, like, to ward off the demons. Like, hey,
16:11
we're already here. Like, that was the logic, which is pretty, pretty weak logic if you ask me. And so, you know, then something had the pope says something. He's like, oh, this is You know, November first is like the the the day of the saints or whatever. And so say, baby. We in Catholic school, we used to celebrate it every year. And so then the thirty first became all hallows eve. And so, okay, how did it go from that to kids dressing up as aladdin and going trick or treating? What was what was the gap? And, basically, it was, like, for a while, it was this kind of, like, look like,
16:40
nobody really spent money on this. It was sort of like this more like adult dark holiday where you would buy, like, certain things you'd have people for dinner, maybe things like that. And then over time, it got commercialized. And what I was trying to figure out where did it get commercialized? How did we go from this, like, obscure Pagan holiday
16:58
to this mainstream ten billion dollars a year thing. And the best explanation I could find was that there was a kind
17:04
of society thing, which was, like, people wanted a holiday. It was a good excuse to celebrate. They liked that it was they can make it community and family oriented over time rather than, like, this kind of adult,
17:15
thing. And then the last thing was that retailers.
17:18
So, like, the biggest winner from all of Halloween is Walmart.
17:22
Walmart makes a killing on Halloween. It sells candy. It sells costumes. It sells decorations, and it sells it to, like, everybody across America. And so What happened was
17:32
retailers would have this giant spike in, like, kind of spring, maybe a little bit of summer. And then there was this dead time until the hall the winter holidays. And so they were like, okay. Sales always dip.
17:43
Let's figure out what we could do to make sales not dip during that time. So they kinda needed to, like, invent an occasion for you to spend on. And so they started Which is pretty common. Right? Like, if you think about, like, you know, like, there's, like, the the Hallmark lobby, man. They've, like, really been pushing Valentine's Day on us for years. I mean, I think that that's like a that's like a pretty common tactic. I imagine Amazon is thinking, like, prime day is gonna be a holiday of, like, just random deals. And it's not like a coordinated attack but it is, like, a bunch of people who all have an incentive. So they had an incentive to do,
18:13
to just to sell more stuff and put something in the store that's gonna drive people to to come by. And so I just wanna break down a couple of the numbers and a couple of the businesses. So like I said, about ten billion in spending,
18:23
three billion of that is costumes. Seven hundred million of that is costumes, which is kinda crazy.
18:30
There's basically, like, you know, three million on three billion on candy,
18:34
and there's, like, a huge amount, like, I don't know, like, basically,
18:37
almost half the country is going to, like, give out candy during during Halloween, which is kind of an insane level of of adoption that's going on. So Walmart's the biggest winner. They they not only make a bunch of money. They spend a bunch of money advertising during this period. They'll spend, like, tens of millions of dollars in the week of Halloween, just like blast thing ads. And so do all the companies that are stocked inside their skittles, Cheetos, lunchable. Everybody's got, like, a Halloween themed thing. And so couple of the interesting finds I had when I was doing this, So the first is a lot of people know about spirit, the spirit store. Right? And people have heard about this, but, like,
19:10
the backstory of spirit kinda cool. Have you ever heard the backstory of how it how it got started? It's owned by a popular company. What's who's it owned by? Oh, your favorite. It's your your first Thursday night, date night, Spencer.
19:21
Spencers. That's what I thought. Yeah. Like, Spencer is like, you know, like a hot topic alternative. Spencer also owns
19:28
Beard Halloween. Yeah. So they so the way this started was, it's like in California in the eighties, this guy owned a woman's clothing store.
19:37
And he was in October again, traditionally a super slow sales month. And so he's just sitting there not really getting much sales. He looks around everybody struggling, except for one store. He sees that this one Halloween,
19:48
store has a line out the door. And so he's like, well, I'm not selling shit anyways. And so he just turned, like, three fourths of a store into a Halloween store just for the month of October.
19:58
And so he is this women's boutique, so there's like women's clothes in, like, a quarter of the store, and then three fourths became Heloween stuff. And it it really works. And so he just does that again the next year. He's like, oh, that's my Halloween playbook. But now he's like, alright. Just forget my store. I'll just open up another store and another store just for the month. And so,
20:14
that's their model. These guys basically what they do is they go find vacant properties. So,
20:19
you know, an empty box. And they say, Hey, landlord. You don't have a lease? Well, I'll lease it for two months. How about that? And the landlords initially were like, well, no. Like, what what am I a two month lease? Like, no. Thank you. They're like, okay. Well, look, here's my offer. If you don't have a tenant by July, might as well take it. Some revenues better than no revenue. And, like, especially after the two thousand eight real estate crash, this became, like, a pretty enticing option for landlords to try to regroup some money. And so they do these two month leases
20:48
And, it's a pop up Halloween store. Same place every time? No. Different places. They even have a kick out clause. So they say, hey, look. You could take the look, how can I get more real estate? Look, If you find a if you do find a good tenant who you want to do a long term lease, you could just kick us out. Like, would like, anytime you could just kick us out, basically. And so they found this, like, no brainer proposition to landlords. And so they do these pop ups, they now have fourteen hundred stores. So, like, fast
21:13
rewind back to,
21:14
you know, like, Twenty ten, they only had, you know, seven hundred stores. And the whole Halloween spend is on the same trend. So, like, I said, ten billion this year. Well,
21:25
rewind to twenty ten. That's when I graduated from college. It was five billion. Rewind to two thousand five, it was only, like, three billion. And so that's, like, kind of a big, like, just during our, you know, lifetime, our adult lifetime, this thing is, like, you know, more than doubled in in size.
21:39
And so,
21:40
you know, imagine that, by the way? All that work for a week. Like, I I know a guy who owns a Christmas tree light show business that I can't reveal how big it is whatever number you're thinking of, how much remnant does -- Triple. -- times it by times no. Times it by twenty. We're talking, like, nine figures. And Christmas tree light show means what? You pay twenty dollars and you and your family drive through a park and you look at light shows. And basically, he's been a staff of don't even know how many step is. I think over a hundred, they work all year round for four weeks of work. Can you imagine what your company's like? Like, what happens if there's, like, a terrorist attack or,
22:17
you know, like whatever or or or or a COVID. I mean, something happens where it's just like all fifty weeks worth of work is ruined for those two weeks. Do you know what I mean? Yeah. That is the risk. That is the risk with these. Like, right now, like, it's Halloween right today, their the whole company is working on next year's Halloween Real Estate, how they're gonna do the logistics to, like because they can just get an empty shell. They gotta pop up the whole store. Get all the inventory there, do all the decorations there, and then run the staff of the store just for this, like, you know, real blitz. And ninety percent of the traffic comes in the two weeks before Halloween because their main proposition is just, like, for people who were, you know, who procrastinated.
22:53
It's like, hey, it's too late even now to order online. You know, just come into the store and just get what you can get. And, it's that big of a business. They do, like, a billion dollars a year in revenue,
23:02
the the spirit store. So that's just kinda crazy for billion dollars and basically, like, probably
23:07
a three week time period for for the majority of that,
23:11
of that spend. Eight percent of all candy sales of the year happened, like, on Halloween. Really crazy. That's wild. What a wild stat? Here's some other interesting little businesses that were around this. Okay. So have you ever heard of Ruby's
23:23
No. What is Ruby? Ruby is is probably the biggest, I think, costume maker. I don't know if they're still the biggest that they were at a point in time. So here's the kind of interesting story for Ruby.
23:32
Started in New York, and they're like, oh, we're doing decorations and costumes for Halloween. Halloween wasn't as big of a deal. It's, like, in the seventies, they were doing this. And,
23:41
at the time Halloween costumes were all the same. It was all just ghosts and witches.
23:45
But then in the seventies and eighties, it transitioned
23:48
into basically, like, Hollywood. And it was, like, oh, movie characters and, like, TV characters would became, like, the big thing. And so and Ruby's kinda fell behind because there were these other companies,
24:00
Collegeville and Ben Cooper. That, like, got all the licenses. So they were winning. They were crushing it poor Ruby was just sort of, like, puttering along
24:08
until
24:09
that fateful thing happened. I didn't even know about this, but there was something called the cyanide killer. You ever hear about this? There was this big scandal where,
24:17
I guess, in Tylenol packages, like, a whole bunch of Tylenol got laced with cyanide and people did that. And they never caught they never caught the person. Never caught the guy, and it scared a bunch of people. It's like holy shit, Tyler all, like, this, like, safe thing. How many people died? Like, three or four? Not sure. I think it was more than that. But it was a big story that definitely was big news. And so people so candy sales plummet,
24:37
you know, like, and people start getting pretty afraid.
24:39
And so these companies got a little over their skis because everything was going so great.
24:44
And they start to falter during this, sort of, like, this crash when people started to the Halloween sales crash because people did not wanna go eat candy from strangers during the the sort of like cyanide, you know, rush, I guess. And so Ruby ends up buying up Vancouver and Collegeville and basically consolidates all the licenses
25:02
under one roof during that time. And so now they have Disney, Marvel, whoever. They got, like and they their job is basically there's, like, a you would think this is, like, I don't know, a bunch of theater geeks that run this company but in actuality, like, the big thing they have to do right is,
25:16
is, like, you know, operations for the supply chain. Like, cost management.
25:20
No. No. No. Forecasting.
25:21
They gotta predict who is gonna be popular next year for Halloween.
25:25
So they're like, okay. Donald Trump is tr trump mask is gonna be here. Or here or here. And, and then they work with all the studios. The studios give them, like, a little, like, sketch sheet of, like, hey, here's the movies coming out next year and the year after. And here's who's the good guy, here's the bad guy, and here's what the costumes look like. And, like, you know, you're under extreme lock and key, but, like, yeah, we make a lot of them. We make the the movie industry make hundreds of millions off of Halloween costume royalties. They get like an eight to ten percent royalty. And so they're like, alright. Fine. You can get access to these designs in order to start prepping for -- Dude, I wonder
25:59
what their research methodology is. You know, we've talked about that company WGSN. It always just interests me. It's a hundred million dollar a year business that does, like, thirty million in profit. And all they do is they help I mean, it's they all they do is simple, but it is, like, a pretty amazing thing. But they, like, help they had helped predict which color is gonna be popular. So Starbucks make sure that their
26:18
labels on shit is like the right colored pink. Like, apparently, they predicted that pineapples were gonna be popular. Did you know that pineapple was a popular thing this year? Yeah. Yeah. I'm all about it. And they, like, somehow knew that. And they're saying year is gonna be the lemon, which I don't I don't know. Is that really what they said or you're just making that one up? I think it I yes. I think it was the lemon. Like, next year, lemons are gonna be, like, a new set of pineapple, which I don't even know how you would draw a lemon on, like, an iPhone case. I mean, it just looks like in the sun. But anyway, they said that, like, lemons are gonna such an absolute problem. Your brain just went too. Well, like, have you ever, you know, like, pineapples on iPhone cases? It's like, but how do you make, like, a round, like, yellow thing. There's, like, no density to it. Like I don't know. We can workshop that afterwards. So, so so so I think, you know, these guys probably, you know, you know, like, that meme, like, the hello
27:05
Hello, fellow kids or whatever, hello fellow children, like, the guy shows up at the high school. He's like forty years old. You got this skateboard on his back, and he's like, hey, hello, kids. Like, What is the good, you know, what's the good buzz this year and, like, you know, trying to figure out, like, what's gonna be hot?
27:20
Yeah, I don't I don't know. I don't know the research about it, but I am I am intrigued. Basically, they gotta be fortune tellers. They gotta figure out through movies, politics,
27:27
all that stuff. Is it Pokemon? Is it Wonder Woman? Is it Trump? Is it what what is it gonna be the costumes? And so So that's one interesting one.
27:35
Couple other, you know, pretty interesting,
27:38
pretty interesting things. I'll give you some, like, I'll give you some, like, smaller
27:43
niche, like, side hustle things. So, so first, haunted
27:45
houses,
27:49
So haunted houses apparently do three hundred million dollars a year. It's kind of a -- That's crazy. -- kind of a big number for something that's, like, useful, you know, like Dude, I hate haunted houses like a way to go.
28:00
What?
28:01
Do you go?
28:02
I've been. I'm not, like, I'm not a big, like, thrill seeker, like roller coaster haunted house. Kinda guy. Yeah. I'm I'm not, like, afraid of money to
28:10
it. I'm not, I don't pay money to be scared. That's my that's my rule of movies and haunted houses. I I I pay money to do the opposite. Yeah. It's like, you know, those guys who pay girls to, like, you know, slap them and stuff. It's like, no thanks, you know.
28:22
Pretty sure. Pretty sure I should be getting paid if I'm gonna get scared or slap That's my rule and I'm sticking to it.
28:28
So so there's like, you know, haunted house is kinda interesting. There's a guy who, somebody tweeted this at me. They're like, yo, this local one near our place. And I did the math. So this was basically, like, small, like, hunt out. So what they're doing is,
28:40
they basically take, like, a vacant property. Same thing is the spirit store. They take a vacant property. They say, hey, We'll cut you a check for ten, fifteen grand if we can use your house. Right? Or they'll they'll they'll rent a property or they'll find a vacant property.
28:51
And they basically just use it for the month. They have this operational thing where they could just spin up the haunted house, and then they charge, like, forty bucks, you know, to enter. And you can sort of do the math and realize, man, they're they're probably making half a million to a million dollars in about a about a month just off these things. And they have like it it's pretty crazy how Like, you know, as a little side hustle that you could do, a haunted house. Let me give you some other ones that I think are are kinda interesting.
29:16
There's a guy who created this website called zombie pumpkins. You ever seen this? No. So it's, like, I think it's zombie pumpkins dot com. So two million people a year ago to this site just to print out a stencil that they can use to carve their pumpkin. So he was like, you know what? If you go try to do pumpkin carving, it's just gonna be a pretty generic face. I'm gonna make, like, super accurately drawn things so that you can have, like, a really dope looking pumpkin. Like, you can have, like, a really cool site. Really, like, you know, Michael looking pumpkin, it'll look like if you just follow my stencil. And so, you know, two million people go to this thing. It gets like a million out of those hits, you know, like, in the last week of October or something. And, you know, he donates a bunch of the money that that comes from this to, to charity, which I thought was pretty cool. And he charges money. So you pay money and you get stencils.
30:02
Yep. And every year, he releases new ones. Okay. Here's another one. Pumpkinsteins.
30:07
So
30:08
how would you like a pumpkin that instead of carving a pumpkin that looks like something, if the pumpkin just grew and only looked like, like, the a Frankenstein hit? That's what this guy did. So this guy's got a crazy story. He's like a, I don't know. He's like some farmer somewhere
30:21
And he spent four years trying to solve this problem. He's like, what if I could just grow a pumpkin that was already a decoration?
30:28
So you don't have to do any work. So he tries to spell it.
30:32
Pumpkin stein,
30:33
like Frankenstein. Yeah. He tries to grow it. Doesn't work. Doesn't work. Doesn't work. Doesn't finally, the fourth year, he's like, what if I tried this, like, I don't know, type of seed or whatever it was? And he got it to grow into this mold. And the mold basically just looks like a Frankenstein head. And so he started selling them and he says, like, you know, a few hundred sales, and he does a few thousand sales.
30:53
Retailers start coming to him. He opts to go with Sam's Club because he's like, you know what? Like, he was selling these for a hundred dollars, a pumpkin. He's like, you know what? Sam's Club we could sell for thirty dollars and make money doing that with at their volume.
31:05
And so These are amazing.
31:06
These are amazing. And so he goes and he's like, alright. He's like, this could be kind of a thing.
31:12
He said he got ninety thousand orders last year.
31:15
So, like, that's, like, four or five million dollars in sales of these pumpkins. He started other farms and bribing them being like, hey, I'll pay you eleven dollars ahead. Follow this blueprint. I need more production. I cannot possibly keep up with the production at my rate. And so he goes and he gives other farms, like, eleven dollars per pumpkin that they could produce that can be sold this way. And then they had they had, like, a malfunction and, like, the face still looked right, but the back got all screwed up and it, like, looks like it, like, exploded.
31:40
And then that was way more popular. People were like, oh, that's cool. It, like, exploded in the back. He's like, oh, shit. Now I gotta figure how to do this intentionally. It's like this crazy little, like, you know, like, accidental,
31:50
you know, side hobby.
31:52
Wow. These are cool.
31:54
Another one, Home Depot. Have you heard about the twelve foot skeleton? No.
31:59
This is, like, one of these, like, viral. I think maybe from TikTok. I don't know where, but, like, my wife has been talking about this. She's like, oh, I really wanna get the twelve foot thing. It's always sold out. And I was like, it can't be that. I mean, like, let's to Home Depot and get it. Like, if you've seen Home Depot, it's just like full of shit. Like, this is no way they're just like out on every Home Depot. She's like, you don't understand. And she shows me There's, like, buy and sell groups on Facebook where people are buying these things for a thousand dollars plus. Like, they retailed for, like, three hundred or something like that. And Ebays, they're selling for a thousand dollars. It became such a hit. Home Depot figured out this giant lawn, skeleton, was, like, the big hit. Then Lowe's came out this
32:37
year. And Lowe's was like, the twelve foot mummy. And I was like, wow, you know, who's gonna come up with the twelve foot one inch, you know, you know, ghost next year. It's like this crazy little trend, but there's all these things. So all these things that really weren't categories before
32:52
are becoming categories, like the inflatable lawn
32:55
you know, decorations are just, like, surging in popularity,
32:59
different types of candy, different types of costumes. Like, it's all sort of surging in popularity because people are
33:04
more and more willing to spend. I got thinking I was like, why is Halloween
33:07
so awesome? I love Halloween.
33:10
You know, you don't have the spirit. You're sort of the, the the great halloween as as as you're known.
33:16
And I realized, because it's Halloween. As I've known. Halloween is the anti holiday. It's not the cookie cutter warm and fuzzy. It's dark. It's kinda more adult. It's more creative. It's one of the few creative holidays.
33:28
And,
33:29
social media is the boom for Halloween because social media. What is social media? It's a, hey, look at me.
33:35
And Halloween is the perfect, hey, look at me, It's, hey, look at my house, hey, look at my costume, hey, look at my body, hey, look at my candy, hey, look at my kids, hey, look at everything. Right? So it's the hey, look at me thing, and also it's an excuse to act like a kid. And I'm bullish on anything that gives people an excuse to act like a kid. I think that's why Burning Man is popular. I think that's why Halloween is popular. And, you know, even things like the ice cream Museum and stuff like that, I think is is, you know, really popular for that reason. Dude, it feels like you just prepared a debate on why Halloween's great and why I should dig it. And
34:10
you have totally won me over. Yeah.
34:13
So you're saying there's a chance.
34:16
Like, you you just put together this big speech on why Halloween is cool, and I'm into it. I think it's awesome. This twelve foot skeleton thing is awesome. This pumpkin stein
34:26
is awesome. I'm all about it. This is awesome. This is awesome. And so let me tell you more ideas or,
34:33
or little little little niches. So I'll tell you a couple niches and a couple ideas. Neach thing. We had a guy come rig up lights to our house this week. Because he did every single house in our neighborhood. And we just moved in to this place, and then our neighbor was like, oh, yeah. You want lights? You gotta hit the lights guy. He's booked But, like, if he he can try to squeeze you in, you'll have lights for this season.
34:52
Dude, you're just getting sucked in all the suburban traps. By the way, for the listener, I went to Sean's house, the other day, for dinner. And I walked in and I'm like, oh, that's a really cool,
35:02
kid's shopping cart. Like, he's got like a play, like, checkout Isle.
35:07
And I was like, oh, wow, that cart says Target on it. And he goes, yeah, or maybe it was your wife, but it's one of you guys Yeah. This has been one of the most in demand toys. We had to, like, find this cart on eBay for however hundreds of dollars. We flipped one and we bought the other. Yeah. You're like, we had to get this car. Like, the kids wanted this car, which they didn't. But you guys did, I think, probably. The moms want this car. Yeah. The moms want it was like, We wanted this Target toy cart. And I just thought,
35:32
you know, that's kind of interesting. Now I'm hearing this. You are totally becoming a suburban dad is awesome. I'm I I like this side of you. Sir, you know, I have a fanny pack.
35:43
You know, I was equipped for this life. So
35:47
this guy comes comes over and he's like, I'm like, how much for the lights? And he's like, I'll do it, and I'll do it this day, at this morning, you get, like, a one hour window.
35:56
And,
35:57
it's like six hundred dollars to put up lights. You know, like, two hundred bucks for the lights themselves. They last you for ten years.
36:03
And then,
36:05
it'll be, like, sixty bucks to take them down in January.
36:07
And I was, like, alright. But I guess, like, I'm not gonna fucking climb up there. So, yeah, go ahead. Like, you know, either we're gonna have lights or, like, we're gonna get in the spirit of things. And this guy just cleaned up around the neighborhood. It took him an hour. But why would he do it this way? He should do it where I'll come and pick them up on,
36:24
like, right after Thanksgiving. And, hey, by the way, while I'm here, do you want Christmas lights? Well, these were Christmas lights. Actually, it's like they they start Christmas stuff now and then I feel you. Okay. I thought it was Halloween lights, whichever that whatever that is. Yeah. I don't even know. But he should start being like, you want Halloween and I'll do a bulb change in, like, November. He should be upselling. He was too honest of a guy in general because, like, he was, like, sixty bucks to take him down. I was like, bro, once you put the lights up, you could charge me thousand dollars to take them down. What am I gonna figure? Like, you know, like,
36:50
where's the gouging? You shouldn't have even told me that price until, like, Jan one. You should have called me, like, hey. Did you need those down? It's actually illegal to have those up here right now. Yeah. It looks like a it looks like a redneck. You gotta take those things down. We we were pretty redneck when I was young, and we'd leave them up you around, and we'd call them party lights.
37:07
Yeah.
37:09
Well, they're called February lights now. They're March lights in April lights.
37:15
So this guy, I'm pretty sure this guy made, like, twenty thousand dollars this month in my one neighborhood with, like, essentially zero cost.
37:22
All he had to do was know how to string up lights. And, you know, that's a skill that I think can be learned. And so, like, you know, there there is a, like, neighborhood side also here that I think is, like, a ten to twenty thousand dollar side boat side also. Like, there's, you know, probably, like, a hundred houses in this area, flyer them And then, go start putting up lights and just say, hey, knock on the door. Yeah. We just put up their lights. Would you guys want lights this year? Like, I think that's a that's kind of an easy win.
37:46
Okay. Let me give you now some ideas.
37:50
So you don't like haunted houses.
37:53
I I'm fine with the haunted house, but, man, the effort to get out there is probably gonna be cold. Gotta get the kids ready. Gotta go go on the car, you know, all that stuff.
38:02
Why isn't there a haunted house I could just do from the seat of my chair at home? That's right. VR haunted house.
38:08
If you ever put on a VR headset,
38:11
There's one thing VR's kind of amazing at. VR's kind of amazing at this, like, immersive experience where you can, like, look left, look right, and you could just get scared. Like, If you've ever done the demo where you're rock climbing and they're like, look down, you're looking down, it'll it's legit scary. And then they'll make your character, like, start to slip. Yeah. You get that feeling in your stomach. And so VR haunted house, no brainer. I don't know if there is one or not, but, like,
38:33
you know, these There are, I think, a hundred VR apps that do over a million dollars a year. I feel like the VR Halloween app, the VR haunted house app, You know, you could sell this thing for twenty bucks a pop and probably make, you know, I don't know, couple hundred thousand, if not a million dollars in in the year, just with the amount of of sales that go on in VR. Because you'll be competing. It's nobody, and they'll feature you. Right? Because you're cool content for that month. So you'll get, like, free promotion, basically, through oculus store.
38:58
That's an eight. I dig it. Eight. Alright. Cool.
39:01
Okay. My next one is gonna be
39:04
Spirit Store for Christmas.
39:06
Am I dumb? Is there no spirit store for Christmas?
39:09
I don't know, but I do know that my wife is, like, your wife, where, like, weekend, we were walking around, and she's like, anything that had a pumpkin flavored candle, she was walking in. And, like, she bought, like, a caramel apple, she's like, I gotta get a caramel apple today. Like, we have to have one today, save for how long. What is that motherfucker
39:26
pavlov been doing to our wives, man? Like, There is something with this certain scent and certain color that, like, you know, I must have. I must have just It's like, in my life. I just learned this weekend. Have you heard of nesting? Do you know what that is? Yes. I didn't know what that was. So I just learned what it was. It's like, dude, by the way. It's it's so, like, for for the single guys, listening,
39:47
I guess For for ninety eight percent of our audience.
39:53
Yeah. To all the neckbeards out there. For for all the people listening to this on a Peloton
40:00
in your one bedroom, San Francisco apartment.
40:03
Basically,
40:04
when a woman, I guess, is, like, I don't know when it happens, but, like, I think later in the pregnancy,
40:09
part of the pregnancy, she starts to nest. I guess that means, like, you start, like, preparing for the baby. You wanna, like, clean constantly. Basically, you wanna have a an environment where the baby can come to and be safe so you wanna clean, you wanna organize, you wanna make sure that there's no corners. That's so that's a real thing.
40:26
We're and we were like, what's going on? That other people who had already had to be like, oh, nesting. Yeah. Babies coming soon. You know, you could sort of feel this. It's like, is your wife suddenly cleaning, organizing, all of a sudden, the to do list just gets like knocked out because it's like, oh, there's like burst of clarity and energy and, like, urgency around preparing the home for a certain thing.
40:46
That's crazy. So, you know, it's interesting. Like, we we we think that we are, like, these civilized like creatures different from an animal. But then, like, there's these these situations that happen. For example, if you're a man, if someone, like, disrespects you publicly, you start feeling this, is this rage I feel inside of me? Like, I wanna go do I wanna go fight right now or, like, or, like, with a woman, it's like the nesting thing. And, like, there's all these, like, things. And having a kid is like a really good example of when, like, these weird things just start happening that, like, I I I thought I was different. I thought I wasn't just one of those animals, but turns out I'm just a beast, like, you know, the rest of the the animal kingdom and nesting is one of them. And maybe
41:22
there's something
41:24
about Halloween where just
41:26
Sarah just has to drink or eat pumpkin flavored shit just constantly.
41:31
And it's this and, like, it's the same way with Christmas. She's like, oh, we gotta go get the cinnamon thing. Yep. I'm like, We don't need it, but she's like, no to no. Like, no to no. Like, no to say, heavy. Spot thing that I'm a hold with both of my hands near my nose, like, a small koala.
41:44
And it's like, what what is this what is this position then? All all women assume during during winter.
41:49
So the spirit CEO even said this, he goes,
41:53
fall,
41:54
the turning of the leaves,
41:55
the pumpkin spice latte, and the spirit store. We have become a symbol of the changing of seasons. People now wait for our store to pop up, that's how they mark time, the passage of time in their lives. So anyways, I thought,
42:08
you know, I thought, why is it there a spirit for Christmas? What what does spirit do well?
42:12
Decorations,
42:14
desserts,
42:16
and bag gone, g good gift ideas. That's the three piece of spirit.
42:22
You are suburban. I'm a start calling you, Ted. Ted purring. So we're, like, stay
42:30
gone.
42:31
The dad gone. I need to know a d. The dad gone good gift ideas.
42:35
So Christmas has -- Triple, maybe. -- yeah. Triple d. It has decorations.
42:40
It has specific dessert, eggnog, candy canes, all this stuff. And you need gift ideas. You need to go try out toys and things like that. And so, you know, Hallmark tries to capture this. I think they're doing it wrong. I think spirit needs to get in the spirit of things. Spirit needs to pop up for Halloween.
42:57
Stick around for Thanksgiving
42:58
and the Christmas push,
43:00
and then wind things down right after Valentine's Day. That's the spirit you need to get you need to get on this this six to eight month program. I'm sure you've thought of this, and you have a good reason why you don't. But I I I like to play, pretend, you know,
43:12
like, I think that's something that you and I or whoever listening don't think about an office. When you think about a company to build, you you you rarely do you think this would be awesome to run.
43:22
And
43:24
being CEO of the holiday company
43:26
would be awesome. Yeah. I mean, that would just be like a fun thing. Are you changing the world? Nah. Are you having a blast? For sure. Year's the season, as we say at the holiday company.
43:36
Yeah. That's the this is it's it's the holiday code. It's always the season. Yeah.
43:44
What a beautiful word.
43:46
Yeah. Tizz clearly underused.
43:49
Yeah. I love the Tizz.
43:51
Yeah. So I'm I'm about this. We're we're onto something.
43:54
So, okay. A couple other, interesting things. So this pet costume thing, I think is, like, a real trend
44:01
you know, we've seen pet vitamin companies like Zestypaws, sell for six hundred million dollars. We've seen pet every you know, pets is like a huge niche. And so if seven hundred million is spent a year on pet costumes, I feel like you could just kind of like
44:13
I I mean, I can't tell you off top of my head. Who is the the go to for pet, you know, for for pet costumes. And so that tells me, you know, there's more than enough room on the e commerce side for it.
44:24
You know, the the story behind halloween costumes dot com is also crazy. It's all the same thing. It's basically like somebody stumbled into this idea and then couldn't even keep up a demand as Halloween grew. And now it's effing huge. Alright. So that's my that's my Halloween rant. That's my that was a good one. You know, breakdown and backstory.
44:41
Let's see. Did I miss anything? Dude, we so I wanted to talk about a few things. Well, we go to this one topic really quick. It's I think it's only okay. So I don't wanna spend that much time on it, but then I wanna hear your Sully story, the Twitter thing and the Warren Buffett thing. I think these are all those are all awesome. But this is just one thing to put on your radar. Have you heard of this company called humane?
45:00
Humane. Is this the,
45:03
like, phone on your chest?
45:05
Yes. So, basically, this is just it's it's hard to see. Pitch, you mean.
45:12
I don't actually know what it is. And I don't think anyone knows what it is, but basically I saw this YouTube video talking about it. It's the first time I've ever heard about it, which is interesting because they've raised a hundred and thirty million dollars from, like, some of the best VCs out there. And the people who started is is this husband and wife company. I think they spent, like, one of the the husband spent twenty years
45:31
at iPhone or at Apple building the iPhone. I think he was like one of like a six or ten person team to like the original team to come up with the iPhone. His wife was also, director of engineering, I think, of of Apple or something, like, pretty impressive like that. And they've recruited, like, a hundred plus employees
45:47
Most all are from Apple. Like sixty or seventy of them are from Apple, and they're like Apple ballers. They're not just like the average just like entry level person. And so it's kind of an interesting signal, and they've filed for all these patents. One is like a wearable multimedia device and cloud computing platform with laser projecting,
46:05
projections. Another one's like a portable yeah. I mean, that could that that could go anyway. You know what I mean? Like, we're gonna see a bunch of interesting stuff. Another one's like a portable battery pack. I mean, like, they've done all these amazing things.
46:16
They don't even have a website.
46:18
Like, you can't you can't really learn anything about it. You go to the website. First of all, If you go to the website, you gotta commit three typos to get there. It's hugh dot
46:28
ma
46:28
dot nuh, any humane, but split up with three, you know, two different periods. And then you get there, and it's a picture of, like,
46:36
the sun. And it just says, what did it say? Is it, like, I forgot where it said, like, change everything.
46:43
Yeah. So I have a I have a strong take on that, but let me finish this, which is basically their whole point is that they view phones as a divider between us and the world and they want your phone or whatever it is going to replace a phone to be an extension of our bodies, which that's like pretty vague. I don't know what the hell that means, but I guess it means, like, they wanna build a new iPhone, but it's not gonna be a handheld device. It's gonna be like close you wear or lenses in your eyes. I'm not I'm not exactly sure. But
47:10
two tanks. One,
47:12
I completely agree. And I think that as an industry, we're, like, way and we're we're we're too early to say that there's something actionable right now. But I do think in, like, ten, twenty years,
47:23
we we're we're gonna be anti phone. We're gonna be like like what the fuck? You're looking at this shit. This is like cancer. Why are you doing this? Why are you what you're smoking? What are you doing smoking? Kinda like a way to look at smoking. Number two, I think unfortunately,
47:34
I I don't know you guys, Bethany and Imran. I think those are the two founders. I'm sure you're wonderful people, but
47:40
I think any company that raises that much money and has a site that says change everything
47:47
and has raised a hundred and twenty million dollars and has never shown anything,
47:51
I think they always fail.
47:53
Nine out of ten times. I think that they're gonna fail because of their hubris. And it's like, what the hell are we making here? What's one that didn't fail?
48:00
Is there an example? Like, Quibi was the most recent one that was like this, and, Quibi failed. Magic leap before that. Magically failing in progress.
48:10
What were the other ones? Like, you know? Dosero, that one failed. I mean, the only one I can think of is jet dot com. And
48:16
But one would argue that that didn't succeed. Well, I could what would say it didn't fail, but, like, they probably sold a slightly above the valuation in which that they raised at. Yeah. Like, I don't know if the underlying business was healthy or not. It I I didn't feel like Jet dot com became this main, you know, big consumer thing that was going on, but, like, you know, who knows? The world is really big. Maybe there were a ton of loyal jet dot com users who were, you know, using it all the time and the business was working, but it did seem like it was the the team, the story, the technology that got acquired by Walmart in order to make Walmart's online thing better. But nonetheless, still a definite win.
48:54
Mark Laurie, friend of the pod. Love the guy. You know Oh, it was a fucking NBA team. So, like, it worked. You know, in terms of cooperation.
49:02
Own's a place in my heart. That more importantly.
49:05
But, like, you know, how many of these dream big, raise big,
49:09
hype big build instills for multiple years and then, like, launch with the world changing device,
49:15
or world changing product.
49:18
Yeah.
49:22
I'm reviewing the track record here. Yeah. Yeah. Yeah. Yeah. If I had a nickel every time that happened, I mean, I would maybe have a dime. Yeah. You know, it
49:31
it it doesn't it doesn't happen a lot. You're a funny game mind sweeper. It looks like that. You know, okay. So so here's a couple things.
49:39
Number one, we did talk about this before because when it came out, the patent, I think got leaked and it looked like at that time, the device was some kind of clip on sort of a camera that you basically would wear on your your chest.
49:51
Sort of like a GoPro, but for everybody.
49:54
I don't know if this is still the the product or not, but I remember that was the the idea.
49:59
And it was like, oh, that's cool. You just kinda have this, like, hands free, you know, camera, audio device. That sort of thing. Oh, yes. I do remember that. And so that was kind of interesting, but that that would only be to capture. It wouldn't be to,
50:11
you couldn't, like, look at that and read something or or watch video or anything like that. So it wouldn't totally replace the phone, but I'll say a couple things. I think they're solving the right problem, which is the phone is not the last it's not the last frontier. There's certainly gonna be some kind of wearable device after this. Is it a watch? Is it glasses? Is it, something like this? Is it a drone that's floating above your head all the time? I don't know. But, like, most likely, it's gonna be glasses
50:35
you know, that that seems to be where everybody is going. And so, like, we'll see.
50:39
But definitely will happen and definitely will change the world when whoever does get that form factor right. So it is inevitable in my opinion. The next thing, the phone really is causing, like, you know, a lot of damage and problems in terms of how society, like, you know, with the extreme strength that came from this device that helps us never get lost, never be bored, never never be alone, all that good stuff. You know, I remember going to a doctor, and he was like, he did a scan. He's like, oh, yeah. You have a little, you know, slight thing up your c four, c five, whatever, like, your your vertebrae. He's like, I was like, oh, shit. Like, what did I, you know, Then I wanted to look him down. He's like, oh, no. Everybody has this now. It's from looking at the phone. He's like, it's like the most chronic problem in the, you know, the country right now is people's vertebrae are, like, you know, messed up because their neck is always cramed down. And I was, like, oh, damn. Man, I gotta really start raising my phone higher when I'm, like,
51:30
I gotta really get, like, a selfie stick or something.
51:35
Their neck brace balconies?
51:37
And he sells them. Yeah. And then the doctor sells them out. He's like a drop shipping store. So,
51:43
So I think they're solving the right problem. I also think that the, like, people think, the the common thing people would say, and this is kind of the white knight a thing that I hate, which is
51:55
I don't wanna have more technology. I don't I don't wanna have you know, glasses that have my phone on them. I'm like, eyes all day. Like,
52:03
shoot me now.
52:05
And I'm like, alright. I will shoot you now. You're in the impression. I'm gonna kill you.
52:10
Your impression of a of a white knight, you're basically like a white californian
52:15
guy. I think you put a little more like
52:17
lowerness in your voice. And I think you've got this the the best white guy impression I've ever heard of. Yeah.
52:24
Social media.
52:30
All I can say is they need a raw lima in their life. So
52:34
we'll talk about it in a second.
52:36
But,
52:37
but dude, so so I think that there's this idea of, like, oh, you know, social media's too crazy. I wanna detox. I wanna
52:44
I'm not going to, I don't want more technology. Oh my god. I don't wanna live in a world like that.
52:50
Guess what? It's coming, and you're gonna love it, and you're gonna And, like, yes, it will have some negatives associated with it, like, anything, but, like, it is gonna happen. What one thing that's gonna happen with it is this, Zuckerberg has this law. He he said, I I don't know if you remember this back of the day, but he co he coined this term Zuckerberg's law. Did you ever hear what this was? No.
53:07
He tried to get away from it. He said it one time in an interview. Never said it again because it was, like, bad, but, like, it stuck with me, which was because every year, people are basically willing to share
53:17
up to twice as much as they were willing to share the year before. So in terms of, like, You know, we weren't sharing our status updates about what we were doing all the time, but then, like, you know, a Twitter comes out. And that people are just, you know, sharing every random thought on their mind. We weren't sharing our location before, but then Forsware and others came out. Now we started sharing location.
53:34
Photos, we were only sharing, you know, we weren't sharing online. Then we shared albums. That we shared a single photo. And then with Snapchat, we'll just share, like, you know, tons of photos because they all disappear. So, like, basically, as long as a product can unlock, There is, like, pent up demand to share twice as much as you're currently sharing. And I feel this all the time. There are so many moments of the day that I wish I had captured. My kids did something cute or
53:56
Some you know, my trainer said something awesome to me in a workout, and I'm not, you know, I don't have my hands on the keyboard at that moment to capture that video, that note, or that that image.
54:04
And so
54:06
I think that there is, like, big pent up demand to be able to share way more moments or capture way more moments and share some portion of those than is happening today. And that will happen with either glasses,
54:15
you know, like, maybe a drone camera or, like, a this wearable thing on your chest. So I think those things are all working for it. The thing that's working against it is Once you get this cute ass domain and you raise, like, a hundred million dollars and you go into stealth and you hire a hundred people,
54:30
and you're basically like, we're gonna change the world.
54:34
You're basically saying I'm going to, you know, like, follow this path. You know, I'm gonna walk off this cliff like the many before me that that many companies before me that have done this, like, Hey, magically, if I could see you down there, right? Like, you know, that that is the the challenge with some of this stuff.
54:47
Yeah. I I don't think it's gonna work, but I think it's a cool, I think it's a cool move.
54:51
I'm glad they're doing it.
54:53
Yeah. It's like What what do you say? Face tax and foreigners?
54:57
Yeah. It's like, hey,
55:00
Like, once he say to his wife, I mean, like, hey,
55:02
you wanna feel what it's you wanna feel what it feels like to spend a hundred and thirty billion dollars? Like, you know what I mean?
55:09
Like, you you feel like spending money? Like, you know, they just, like, are are coming over the way just to blow this cash, but, pick one more of these thing for the last few minutes Suly or Warren Buffett. They both are incredibly interesting.
55:20
Let's do the Sully one. Alright. So he he tells the story here guys. You know, when I sold my company tiny, tiny code was the name of his his company. It was a mobile gaming company. He says there was two parts. There was our original games that we had been making, like, tiny monsters, tiny zoo, stuff like that. And our license game. Like, we made the family guy game, the Harry Potter game, the Marvel game, the Marvel game.
55:38
And we got acquired,
55:39
the choir, the guy who the people who bought really wanted the, like, the licensed famous IP games. And so after the acquisition, we decided to sell the first one. And there was a bunch of potential acquirers
55:50
and they all, you know, one of them, you know, offered us five hundred k for it. I thought it was a good offer, but we could get more. So I created a new bidder. I hit up a former engineer from Tyneko, and I told him to bid. I said,
56:00
You're gonna need to offer, like, a million dollars, like, two two times the current offer to get the deal because you're just, like, a random guy. And he did. And it was a lot more than than James City imagine. It was more than the market price. And as such, he won the bid. And I was like congrats. Alright. You At a million dollars. Right? It was only a million dollars. A million dollars. I was like, congrats. You got it. Okay. Now here's the deal. You we've under invested in these games. You should, you know, just you gotta work, like, six hours a week. Just put some money into ads to grow it, add these features. That'll help, you know, retain it better. And, like, you're gonna be able to three or four extra revenue in the next twelve months.
56:29
And the guy, like, you know, sat there, and he's like, I got a better idea. He's like, I'm working today at as an engineer, company.
56:36
I'm just gonna quit.
56:38
And then he's like, I look he's like, I'm just gonna do the absolute minimum
56:41
to keep this thing, like, refreshed and working. And so he goes, Instead of doing more work, he goes, you know what? I'm good with this. I'm just gonna tap out of the workforce at age thirty one, and I'm gonna retire. I don't need to spend any more money. I'm gonna live, you know, like, within my means and, like, this app that I just bought for a million dollars is gonna keep giving me cash flow for, you know, forever. I don't need a job anymore.
57:02
And I'll just always maintain it so it keeps bringing me that cash flow. And in the meantime, I'm gonna work on my hobby projects and other software things that just scratch my itch. And he goes, he goes, then, you know, just like the world started working in his favor on on top of that. He goes, you know, like, Epic and Apple got into a lawsuit. Apple had to change their your rev share deal. So they said for for anybody making less than a million in revenue, we'll give you thirty percent. Instead of take a thirty percent cut, we'll take a fifteen percent So immediately, profit went up by fifteen percent for this guy. He goes, the business has generated more than three million in profits since he bought it. The purchase price assumed that revenue would go down over time, but it remained steady and actually grew during COVID.
57:38
And he goes, takeaways.
57:40
The only way to win the rat race is to opt out. This is a takeaway that I understand intellectually, but I have not accepted emotionally.
57:47
Frankly, I'm still blown away by my friends act of saying, yeah, I have enough.
57:52
And, he goes, number two. When I tell you something to buy something, buy it. And I tell you to work harder on something, don't do it.
57:59
And, and then he was, like, you know, you know, the self serving part of this thread was like, you know, a lot of businesses have these little baby businesses inside that are undervalued. Like, if you have one of these, like, you know, I wanna buy one. I I think these businesses have a lot of value in them. And so,
58:14
and so,
58:16
Yeah. So, basically, and I think by the way, he didn't just buy the whole million with a million dollars of cash up front. He, finance. Yeah. Right. So he put down maybe three, four hundred thousand and finance the rest, as an example. And so Would you ever do that? Would you could you see yourself tapping out?
58:32
Yeah. I think about that all the time. You know. Really?
58:35
Yeah. Not tapping out forever, but I feel like,
58:38
tapping out in the sense that I really have this urge
58:41
to work on Whatever the most, like, creative and fun project is, which might make zero dollars or negative dollars. But don't you do that now in a way? Like, that's what how I started this podcast plan when I started this podcast was I was like, I think I'll probably lose ten grand a year all in on production,
58:57
you know, paying my editor, you know, a couple hundred bucks a month and, like, you know, I was like, you know, by booking the studio, you know, four times a month, that's four hundred bucks. I was like, I probably net will lose ten grand. I'll have some sponsors, but net lose ten grand. I was like,
59:11
totally happy to do that, because I think this project should be a lot of fun. And instead of starting a new business,
59:16
I started this podcast. And this podcast turned out to be, like, my favorite thing I've ever done, the the best project I've ever started, and actually turned out to be a pretty good business, actually on top of that. And,
59:27
kinda wanna do that again. So I kinda wanna go look at, like, what's something I would be willing to lose money doing because it's that fun to me or that intriguing to me? Because I think that that's probably a better signal of, like, what I really wanna do. And therefore, we'll take an interesting shot at doing something. Dude, I think that, like, a lot of people dream about retiring.
59:46
And I've
59:47
I've a few times in my career, I've taken, like, as much as
59:51
a month off to a year off. The baticle. I think.
59:55
Yeah. I used to call it a sand baticle. And, I was like, I'm on a sand baticle. And,
01:00:00
every single time. I love it at first. And at the end, I'm like, dude, I gotta go do something. I can't I can't just do this. I I, like, your your friends can't hang out. Do you wanna Wednesday at, you know, one o'clock. Like, you're just so bored and you're like, I need to go create. I need to produce. I need to, like, and then I just realized I am not built in men or, you know, all people, but I I can always speak from a man man's perspective.
01:00:21
We are not built to sit idle. We are you know, created to work. I don't think we're actually created to work a hundred hours a week, but I think we are created to work like thirty hours a week. And, like, that's the minimum words, like, You just have to produce and you have to contribute. Otherwise, you feel pointless, and I think you die sooner.
01:00:39
I don't Well, yeah. When people with, dude, I don't think it's over tired. I think women are way more active in general, men are more lazy. Yeah. Sure. As a stereotype. Yeah. I don't I I don't mean men in particular. I just I mean, human, but also, I mean, like, I only know my I only know, like, what men are like, because I'm a man. You know, that's what I mean. So yeah. Sure. All humans, I'm sure are like that. I just haven't conversation with a lot of people.
01:01:00
But I think that when you retire, like, I've I've got family and they're like, I'm gonna retire. I'm like, I don't think you should retire. I just think you should work a little bit less. Or do a six month vacation because I think the sooner you retire, that's just you just like you just actually take it off four years on your life. You know what I mean? Like, if you're gonna retire, you at least gotta go volunteer. Like, you gotta contribute in some capacity. You gotta have something that you're living for. Yeah. Yeah. Totally.
01:01:22
My I I wouldn't take a sabbatical.
01:01:25
I would I would just pour my energy into a more creative project that, like, is not the best business use of time. Like, I have a bunch of ideas that I think could make a bunch of money. And then I have a bunch of ideas I think would be really fun to do that would probably not make any money. It might not even get anybody to to use it or like it, or maybe it'll turn out crappy, but I I'm intrigued to do it. And so,
01:01:45
that's the temptation for me.
01:01:48
All the things I wanna do, they all cost money. So I'm like, fuck. I need to earn more. Yeah. But you know what I mean? Like Like, in reality, you don't.
01:01:55
Well, it's only, you know, I guess perceptions reality. Who knows?
01:02:00
Yeah. Alright. You gotta change perception. Right? Easier than you could change reality. So it's
01:02:04
I think that's it.
01:02:06
Yeah, I gotta run.
01:02:07
But, yeah, good episode. Alright. That's a
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