00:00
This guy, this Ukrainian guy, their their leader, this guy is badass. Have you seen, like, him just wearing, like, green t shirts giving press conferences? Yeah. He He's amazing. This guy's amazing. This guy is,
00:12
I don't know much about him. I don't know what's going on. I don't know what's, like, kind of media portrayal versus whatever else. But the guy does come across like a goddamn hero.
00:28
Alright. Let me tell you a quick story. I don't know if you're gonna like this topic, so I wanna get it out of the way. If you like it, we could spend the whole time on it, but I'm not sure if you're gonna be into this. Alright. I'm intrigued.
00:38
Yeah. Yeah. So it it's about the most popular thing going on right now. The Ukraine Russian conflict not exactly about Ukraine, but it's about Russia. So something that I've always been interested in is the Russian oligarchs.
00:50
So have you ever studied those folks? Not studied, but, you know, okay. Tell me about it. Okay. So this starts. I'm I'm reading a thing. So you're gonna me look off. This starts on November third nineteen ninety five in a remote,
01:04
Siberian town called Surgot,
01:07
basically, what happened in the small cabin,
01:10
an auction took place for the right to lend, the cash strapped Russian government tens of millions of dollars. Basically in ninety five, the Russian government wasn't doing so hot, and they needed money. And so they got these banks,
01:24
to come to this meeting
01:26
And they said we need some money. We need to borrow some money. And also, as collateral,
01:32
we're gonna put up shares of some of the large state owned companies because at this point Russia is basically going from,
01:40
being a communist nation to being a private country. And so they still had some, like, state owned oil companies, mineral companies. Basically, like, if you think of ExxonMobil,
01:50
they, like, the government, like, own that. And at this point, they were trying to figure out how do we make this so private individuals can do this. And so
01:58
at this meeting,
02:00
basically only two bitters showed up. And if more bitters wanted to come, it was kind of a pain they asked because conveniently,
02:07
there were no more flights. The airport shut down, and you couldn't even book a flight to come,
02:12
into into this small town.
02:15
By the way, your camera's okay. You're there.
02:17
And so, basically, what happened at this, like, small cabin is one company
02:23
made a bid
02:24
to buy a or to loan money to the government. They loaned they loan something like five hundred million dollars.
02:31
And that was like a hundred thousand dollars above the opening bid. So people were bidding to loan money.
02:37
And
02:38
so that this this this bank loaned money to the government, and then the government had to pay back the loan at a certain point, like, something like a year later. And if they didn't,
02:48
the bank then was given the the collateral, so the shares in this company to auction off, and they could keep thirty percent of the
02:55
profits. So, obviously,
02:57
the government didn't pay back the money. And there's, like, a lot of, like, wondering why they didn't pay pay back. Basically, the idea is that the current president was like, obviously, this is all, like, we're all planning this. So don't pay this back and give us but whatever.
03:12
So they don't pay back. They're saying it's collusion. They basically, there was a
03:16
a handshake, wink, wink agreement, basically, of what's gonna happen here.
03:20
Yes. And so the government doesn't, pay back the loans. And so now this bank is basically now has,
03:28
a minority ownership in like twelve large state owned corporations.
03:32
And
03:34
they
03:35
basically holler at eight to ten guys. Guys who are already relatively successful,
03:41
and they basically said,
03:43
You, do you wanna make a bid on this company? I'm gonna make sure no one else bids on this company, but I'll give it to you. You interested?
03:49
And that's exactly what happened. And why would they do that? Why would they hook up these individuals in that way? They did it for three different reasons. The first reason, and a lot of this is just like here say? The first reason is
04:00
the person who was present at the time, who was it, Ben? What was his name?
04:05
It was the that guy who had a heart attack. Boris Yeltsin.
04:07
Yes. He was basically said to these eight or ten businessmen.
04:11
I'm gonna hook you up. You guys hook me up. When I'm when I'm when I'm in office, hook it up. I'm gonna hook you up. Whatever. So that's one theory. The second theory is that they wanted experienced managers in in
04:23
to to run these companies. And the third theory basically is even though these eight to ten oligarchs
04:28
put bids on these companies, and basically they bought the equivalent of ExxonMobil. So we're talking about, like, a company that's worth billions of dollars. They paid a hundred million dollars for this company. And so these managed these oligarchs, these eight to ten folks. A lot of them were mildly successful, but they were all in on the government. They were all friends and friends. You know, they're all homies.
04:47
They basically, they did take on risk. So, like, these companies did have debt, and, like, they had to go and, like, collude with other people and fire the rest of the managers of the company. So it was basically a almost like a PE thing, but it was, like, pretty dirty.
05:01
Alright. And then I forgot to tell you this, but this is the most important thing. I can't believe we didn't talk about this earlier, to be honest with you. Because if you're listening to this and you like what you're hearing right now, and you haven't gone and subscribed to the my first million podcast, wherever you can get your podcasts,
05:15
then that's the thing you've gotta do. There's nothing more important than doing that right now. And don't do it because I said to do it. Do it because you want it to because that's who you are.
05:26
And the government was like, yeah, we need we want, like, these mercenaries to be in power because if they make these companies better. Our, you know, our government's gonna be better. The the Russia is gonna be better. And so
05:37
they basically profits
05:39
after after this whole deal profits to these companies grow by fifty x, market caps go up by a hundred x. And so there's here's an example. The reason I got interested in this there's this guy named Robin,
05:51
Abraham. What what's his name? Ben, how do you say his last name? I think it's
05:55
Abramovich.
05:57
We're gonna call him Roman.
05:58
So and even knows what the hell you're talking about right now is impressive.
06:03
And he's like a he's like a part of your brain that's like outside of your body and you're Brian, what's that name? Oh, here it is. Roman's famous. Roman owns, we're just gonna call it Roman. He owns Chelsea, the soccer team. So he's like a famous guy and he owns like this like, you know, two hundred foot yacht. He's like a big deal. And basically
06:22
he paid a hundred million dollars. Him and his partner, Boris, paid a hundred million dollars, and they've just they came up a little bit of money, and then they went and hollered at, like, other rich people. And they said, Hey, loan us some money. Let's this company. They paid a hundred million dollars for a company that is now, like, the eighth or tenth largest oil company in the world. So imagine paying in the mid nineties, imagine paying a hundred million dollars
06:43
for
06:44
ExxonMobil.
06:45
Right.
06:46
Insane. And so
06:48
these companies explode.
06:50
Now, they explode partially because basically what these owners did, these eight to ten oligarchs. What they did was they purposely tanked company. So it sucked for a long time, and then they bought out the rest of the minority shareholder. So it's, again, cronyism there. And second, These were government run companies, so they're a shit. And so these private individuals, they did a pretty good job of making them better, and they became far more profitable.
07:11
And this created like eight to ten guys that were worth, like, up to forty billion dollars. So at one point, one of them was worth eighty three billion dollars. You know, things have changed, but it created so much wealth between these few folks. And it also, like, trickled down. So here's the craziest part is that, a bunch of the managers of So basically, there was like the pre there was like the the minister of oil or something like that as a government official. He becomes he sets up this these one of these companies, he eventually becomes president of one of the companies, and now is worth eight billion dollars, even though he was like a a government official. So
07:47
I thought it was interesting because I actually wanted to read a book about these folks because I'm like, oh, who's this, like, rich guy that owns Chelsea Football. Let me, like, go and learn from him And what I realized is, like, I pretty much can't learn from him. I mean, I could maybe learn some stuff, but, like, his process is not, like, replicable.
08:02
I can't replicate it because he was like thirty eight and Russia had just fallen and he basically turned zero dollars into
08:09
he's worth now, like, twenty billion dollars all through this cronyism.
08:13
But
08:14
I thought it was incredibly interested. Have you not heard about these folks? I've never heard any of that in my life.
08:21
Crazy. It's like a it's like the big bang for like Russian rich oligarchs. It's like there was just one meeting and it kicked off this series of events
08:30
that, like, you know, seems
08:32
kind of unfathomable how that would
08:35
be allowed to happen or just happen.
08:37
But then they also consolidated power. Right? Like, didn't Putin basically, like, take all their money and consolidate all their power? Here's the second interesting part of the story. And I actually those from LaSuna Ben's podcast. So, basically, Putin was considered like the anti corrupt guy for for for a minute. Like, when he was elected, he was like, you know, I'm not gonna stand for that nonsense. And he made an example of one of the guys. One of the billionaires, his last name starts with a k. I'm I'm not gonna try to pronounce it. It's it's it's a challenge. He,
09:04
put this guy in jail for fourteen years and he literally put him in so in Russia for some reason they put you in these like cages and you could like take pictures of folks. Have you ever seen that? Like, like, a Russian serial killer picture or anything? Like, it Wait. So it's, like, visible from the outside, you mean? Yeah. It's, like, the mug shot, but it's, like, literally a cage of on you, and people can come and, like, take pictures. It's weird. And anyway, this guy was worth at the time, like, fifteen billion dollars. And Putin arrested
09:29
him for not paying taxes, things like that, and put him in jail for fourteen years. And he goes to the other guys. He goes, you want that to happen to you? No? Let's play. And so a lot of people think that Putin is the richest man in the world. Right. And he owns one of the most expensive homes in Russia and in the world. That's like a billion dollar, two billion dollar house. And people were like, well, how'd you do that? It's a lot of people think. Dollar house?
09:52
Yeah. Ben was telling me all about this. It's a billion dollar house. Wow. I didn't even realize that.
09:58
It's it's not like it's got a skyscraper.
10:00
It's yeah. It is, this town complex. It's got private beaches. It's got, like, pools on pools. It's got guest houses. Basically, we got a hotel on it. It's, like, a house is maybe not the right way to think of it, but it is a house. It's a private residence for Putin. And but basically,
10:15
like, there's no proof of this, but a lot of peep because even when the, Panama papers released, they couldn't find Putin's accounts.
10:21
But basically,
10:23
a lot of people are like, well, so he made an example out of this one guy.
10:28
And he went to the rest and goes, y'all wanna play? Let's play. And and and now Roman, by the way. I was really hoping you'd attempt to Putin accent there. Kinda disappointed not gonna lie. The story is good, but it's just missing that little something.
10:41
I think that you are Ben giving it a shot, Ben. I think you have a little a little bit of the Russian twins, and you're speaking, you could Yes. They say me I they told me I speak good in Russian accent. I will try is this like racist? Can I do this? Is this okay? Don't know. Story. It's borderline. I don't think it's a race. This this we are we have the the cancellation vaccination.
11:01
You're allowed to do a, a funny, funny accent here, and people long it's rushing. If you're listening and you took that too seriously, just swipe over and delete the podcast and go on with your life. And to wrap this up, basic,
11:12
the way that these guys all work now is,
11:15
a lot of these oligarchs are
11:18
part of, like, the peace keeping like, they're they're part of they're helping Putin, like, negotiate peace. So, like, the inner the way that this shit's intertwined is just bananas. It's crazy.
11:27
And I was, like, trying to learn about these folks. And I was, like, oh, well, like, there's nothing to learn here. I can't, I can't do this. Like, the this is just crazy. And these guys are so wealthy. And and so it's trickled down. But if you basically, a lot of them when it happened were in their thirties, like thirty five
11:44
thirty eight years old. And that's why I got interested in winning this because I was I remember years ago reading about these folks. I'm like, how does a thirty eight year old become worth three billion dollars What the hell? How did a thirty eight year old become CEO of a diamond mining company?
11:57
And it was Alright. It's a stupid question. What does the word Olegark actually mean?
12:02
I think it just means when there's, a small group of people that are in power.
12:07
But basically it Sort of like a cartel. Basically.
12:10
Yeah. Not well, that's like what what are you gonna say, Ben? It's just like the typically, the way that it is classically defined is over here you have Anarchy, which is rule by a single
12:20
man. Over here, you have democracy, which is rule by everyone. Oligarchy sits in the middle of, like, rule by a few
12:25
people. Right. Yeah. But we talk about Russian oligarchies, a lot of times people will say that just means like Russian rich people,
12:32
Russian wealthy rich people. The way I'm using it is that there was literally like nine guys who were given like these twelve companies.
12:40
And now, amongst those nine guys, there was dozens more where like Roman was like, Hey, I need a homie. I need a cousin to come and run this thing. Hook it up. And so there's like, it's trickled down beyond that. And so now there's hundreds of
12:54
Quick interruption, do me a favor.
12:57
Scroll down, and you're gonna see a link to the hustle. So if you wanna stay up to date on the tech and business news you need to know, check out the hustle. It's a daily email. I used to help write it. I love it. So check it out. Scroll down below.
13:08
I'm on a
13:10
business insider,
13:11
news story about Putin's wealth right now just because I wanted to see the billion dollar house. So the house, one point three five billion. It's a crazy palace with three helicopter your landing pad landing pads and stuff like that. But the thumbnail was Putin doing basically like a bow flex. So he's he's like, you know, He's basically standing. He's got both, cables. And he's, like, clearly about to do, like, a peck fly, and that was the thumbnail they chose. Not one of his palace or his cars or anything like that. That shows Putin wearing
13:39
three thousand two no. Wearing,
13:42
cashmere sweats that cost fourteen hundred dollars and then a matching top, which is just looks like Hane's t shirt,
13:48
for his workout outfit total, which was three thousand two hundred dollars. And then it's just like, oh, every picture is hilarious. It's like him choosing with a champagne like only power photos, which is really funny. And keep in mind, this is a guy who before this, he was in the KGB, so it's like the CIA of America. So this is government salaried person for the last thirty years. So That's crazy. Yeah. Ben, how did you feel? So you did the how to take with the world episodes about Putin.
14:13
And, and I called you up about this. I was like, Ben, re release the episodes.
14:17
A lot of people are curious about Putin right now. Release the, like, just re upload them as new episodes.
14:23
But you kind of researched this guy a lot. What I mean, can we talk about this, like, Russia, Ukraine thing for us? Like, so, like, what's y'all's reaction to this? And I I guess, like, you know, the disclaimers is we're not experts. We're just friends talking about, like, yo, did you hear what's going on? What did you think about this?
14:38
So, Ben, what what did you think? Because you've spent a lot of time reading about this guy.
14:43
Yeah. My reaction,
14:45
is probably different for most peoples.
14:48
I think most people who listen to my podcast,
14:51
view it as like an anti Putin podcast, like, think it's
14:55
pretty hard on him. And I think in some ways it is, calls him out for some of the bad things he's done, including murdering people, and,
15:03
like, maybe doing
15:06
a false flag domestic terror attack on
15:09
the Russian people. So, like, it's not a pro putin podcast. Having said that, I think a lot of people's reaction just been like.
15:16
Putin is Hitler. He's gonna keep marching through countries until we stop him. Like, all he wants months is. Right. More power, more territory. He's a megalomaniac who's doing this just because he's tripping. And
15:29
I think that what they're missing a lot of the psychology of Putin of,
15:37
of this someone
15:38
who
15:39
was as
15:40
Sam said, a part of the KGB. Right? So he's a part of the Soviet empire it's a big empire. He watches it fall from grace, and then he watches his country get looted
15:50
in the in the mid to late nineties.
15:52
And kinda says to himself,
15:54
alright. Well, America was supposed to come in and make this situation better. I'm never trusting these guys again. Right? And so then he's watching Ukraine get pulled closer and closer into,
16:07
the European Union and and NATO orbit and American orbit.
16:11
And they're basically saying, okay, yeah, they're aligning with us, but that's their prerogative, and don't worry about it. This is not where not gonna, like, invade Russia or anything. And he's basically saying,
16:21
no. Like, that's his red line. I will never trust you guys again.
16:24
And that doesn't make what he's doing right, but I think it is important to understand
16:29
where he's coming from. So the motivation so that we can make the right decisions. Yeah. What do you mean by,
16:34
American was supposed to come in and fix? What what do you mean by that exactly? So you're saying post world war or something?
16:41
No. So it was essentially,
16:44
as
16:45
the Soviet Union is is coming down.
16:47
I can't remember the name of it, but there are some,
16:50
essentially, like, committee,
16:52
with a bunch of Harvard guys, who come into Moscow and are like, hey, we're the experts. This is how you do capitalism,
16:58
essentially.
17:00
And initially, there's like some optimism, right? Of okay. Well, America seems pretty great.
17:06
Soviet Union has not been great.
17:08
And so we're excited about this capitalism stuff.
17:11
And it turns out It goes just they just wear the sweatshirts. Never went to Harvard.
17:18
Got them.
17:21
That's right. They were they were pulling a bend. They were wearing the Georgetown law sweatshirt, but they didn't go to Georgetown law. They
17:27
And, so things,
17:29
the the the Russian economy really crashed during the nineties. And so that's that's what I'm talking about. Gotcha. Okay. So he's like, I've I I've, you know, fool me once,
17:38
you know, shame of shame on whoever the fuck. Okay. So that was your reaction to this, as you were sort of thinking about that. Sam, what was your as you kinda saw this all play out.
17:47
My reaction let's talk about this from a I mean, first of all, I was like, you know, screw Putin, not a fan. But let's talk about from business or like a management perspective when I saw when I've seen all this
17:59
go through or happen, I've been watching a lot of videos on Reddit and admittedly like, that's a USA. That's a American website, so I'm trying to figure out, like, what the truth is. I'm seeing these I'm seeing two things. One, I'm seeing videos of like POWs,
18:12
Russian POWs, and there's, like, I didn't wanna be here. They go, we don't wanna be here. We we were tricked. We don't we thought we were going to practice. We didn't know what was going on. And they also say, we thought you guys were gonna open us with welcome us with open arms. We thought that you're gonna love us. What do you doing? Like, why are you being angry at us? And so,
18:31
I see and and they also show the tanks, and the tanks are shit. They're like from the eighties and nineties. They're bad. Like, and their weapons suck. And so I'm seeing a, I,
18:42
like, they're they just end like, and they were a little chubby and, like, people don't have, like, nice haircuts. Like, they do in the, like, in American modes. Like, they're just, like, undisciplined. Like, it just doesn't seem, like, it's like a well oiled machine. That's what I'm seeing. And second, these are the most random observations
18:56
about this whole thing. It's like, Reddit videos of guys being like, I thought this was a practice war. That's what they've been trying to do. Chubby famous soldiers in nineteen eighties tanks. What? Yeah. I mean, look, like, when you see that you're like, oh, this you're, like, like, I was afraid of you, but, like, maybe I shouldn't be. Like, you're out of shape.
19:13
And the second thing is this guy, this Ukrainian guy, their their leader. This guy's bad ass. Have you seen, like, him just wearing, like, green t shirts giving press conferences. Yeah. He he's amazing. This guy's amazing. This guy is,
19:27
I don't know much about him. I don't know what's going on. I don't know what's, like, kind of
19:30
media, portrayal versus whatever else. But the guy does come across like a goddamn hero.
19:35
Hero. When you think of the word hero, what do you think of? It's like, you know, the president
19:40
who says, you know, not I'm not just ordering you to war. I'm going into the front lines. And by the way, this guy's the finance minister. He's here. This guy's, you know, this is my press secretary. He here, hold this gun. You don't know how to do it. You have it backwards. Does this matter? Stand here. And, like, basically sending out a video being, like, you know, hey, Putin, you know, go fuck yourself or, like, bring it on, basically. Like, the only thing cooler he could have done is if he was, like, Putin meet me at the border. You and me, unarmed, hand to hand combat. You win. You get my country. I win. I get your country. That's the only one level up, this guy could have done as far as being, you know, the real life Macho man Randy Savage, which is kind of the way he was coming across as a it's like a real hero. Right? Like, very brave.
20:22
Incredibly. And what I'm learning what I'm trying to, you know, when I watch the news, I try to fig beyond, like, the is bad, and I wanna help.
20:29
The the thought is, like, how can I use this to improve? And my takeaway here is
20:34
What Putin has done, they they say, like, he's like,
20:37
they showed him with, giving a press conference, and he was on this huge table.
20:42
And his generals were, like, literally twenty feet down on this table, and he was kinda by himself. And that was kind of a a represent representation of him him him being a little distant. Yeah. And whereas this guy was, like, literally on the streets, toasting coffee in the morning. And my takeaway is
20:58
in order to get one to do something, you have to make them want to do it. You can't force them to do it because if you force them to do it, it's a short lived short term thing. Right. And with the Ukrainians, I there was a poll where ninety percent of them support this guy. And they are all in the street They're all, like, pouring styrofoam into bottles with gasoline because that's how you make napalm, and they're using it for molotov cocktails. Yeah. And they, like, it sounds weird.
21:23
But it seems like they're happy in the sense of, like, they have a sense of purpose, and they have a community, and they have a mission. Maybe not happy is the right word, but, like,
21:33
purpose driven. And that's the takeaway that I have from this is if I'm gonna convince people to do stuff, like, run a work at a company or whatever, you need to make them want to do not force them to do it.
21:43
Yeah. That's, that's a that's a great point. They definitely have like sort of the the spirit right now
21:49
and the morale in the route. It's sort of like a rally going on right now. And, you know, especially under these circumstances, you know, it definitely, like, adversity is something that pulls people together. So, you know, it's definitely done that for them, or it'll break you apart depending on what your sense of purpose is. And So this guy's killing it, man. Yeah. This guy's it it's been a it's a it's it's a really good. I don't We've had that in America for a while. It's been it's a really good example of wonderful leadership. This guy is killing it, and he also uses really cute phrases, like, he says something like, lease sound bites. He's like, I don't need he was he was America offered me a a lift to get out of here. I don't need a lift. I need armor piercing bullets. Yeah.
22:30
And I'm like, oh my god, dude. You are rambo. You are wonderful. He's saying all the great stuff.
22:35
And that's just important And there's a reason why, like, have you ever heard about, where they describe old Roman emperors as, orders? You know, people who could speak well, like, Yeah. Now I understand why.
22:46
Yeah. Totally. There dude, but I've been, so I don't normally read the news or watch the news at all. I, like, never. Never turn it on. Don't read the newspaper. Don't go to CNN. I don't do any of it. And, and people sometimes, like, I don't know, make fun of me or sort Tell me, I'm an idiot for that.
23:03
Just yesterday, some guy was like, you know, terrible life choice. You know, you gotta you gotta be in tune with the world's realities.
23:09
And I just think you don't. In my head, I'm like, if you think the news is the world's reality, like, you know, you're watching the world's worst reality show. And, but I, you know, I didn't say anything to him because let him do his thing. Obviously, you know, the news is is making him a happy cheerful person. So so I've I've always had this mindset, which is like, don't get pulled. Like, basically,
23:28
I find the when people get really into government and politics,
23:31
the the phrase that my trainer said to me that makes more sense, he's like, these people can't govern themselves they wanna talk about, you know, what the government could do. And it's like most people fail to even govern themselves.
23:41
You can't get yourself to do what you should do. Why why are you so worried about what everybody else should if you can't even get yourself to do it. And I I've always sort of taken that as, like, a way to not get sucked into, like, twenty sixteen. I had friends who were crying about Trump and all this stuff. And, you know, I said, like, I get it. It's not who I would have voted for, but,
24:00
I just don't worry about that. Like, this is not I don't worry about the government. I worry about government myself. The exceptions being, oh, there's a pandemic. I should probably, like, figure out what's actually going on. What is the recommended course of action?
24:12
Although
24:13
that basically,
24:14
you know, was was not really paid off because we got a bunch of bad information.
24:18
You know, at first. The second thing was, okay, there's a war going on, and this was my first experience really, like,
24:24
watching a war break out. Like, there's been wars that have just been going on forever, like Indian Pakistan at the border, like, you know, Israel Palestine. There's skirmishes all the time, and at Afghanistan. Like, you know, I didn't even realize we were in it till we pulled out, you know, like as ignorant as that sounds. Like, it just wasn't top of mind, and I I didn't
24:42
you didn't see it play out day by day. This is the first time I've really seen it play out day by day. So there's definitely, like,
24:48
kind of a crazy thing to see. I mean, just to see, like,
24:53
just to see people basically
24:55
take a stand, which, like, kind of, like, inspirational.
24:58
Then to see, like, experts coming out, like, on the internet, like, being like, hey, civilians. This is how you, like, do urban warfare for your your bedroom window. And, like, there's these guys that get urban warfare expert. He's like, you need to drag all your furniture out into the streets into this s turn. Your goal is to make it so that their vehicles cannot easily like roam your streets. They need to be making all these different turns. Everything desks, lamps, toss it all into the middle of the street. Secondly, you know, drink water because, you know, you can't go three days without water. So make sure you're hydrating. Otherwise, you can't find anybody. Third, here's how you make a molotov cocktail. Fourth. And he just had this, like, checklist. I was like, holy shit. Is this real life?
25:36
And then you see It's crazy, man. You see, like, you know, there's, like, you see in the news versus,
25:42
I'm in these, like, telegram channels where people people are posting videos from, like, on the ground. And so you see, like, fully different perspectives.
25:49
How'd you getting those?
25:51
Ben had linked me to two of I was show I was sharing some links with him. He's like, check this out. There's a Telegram group where you could just get it. It's all in Ukrainian. Like, I can't under I don't re I can't read the text. I can only watch the videos.
26:01
Or just, like, the heartbreak, like, there's a video that was going viral of this dad just, like, because, you know, they did a contcription. Right? Like, everybody between the ages of eighteen and sixty, all men, like, you're now in the army.
26:12
And,
26:14
there's a dad saying goodbye to his daughter, like, knowing he may not, it may not ever see her again. And she doesn't understand. She's like a four year old kid. Like, you know, I have a two year old daughter. So that was just, like, you know, I was just, like, you know, shattered by that. And just that was, like, you see that and you're, like, this is wrong. This is so wrong. What's going on? Like, it it just hit in a different way.
26:34
And I had heard, on the all in podcast, they were talking about this. They go they go, yeah. Like, right now, the US sentiment is like, no, don't don't go fight other people's wars. Like, don't send our human lives into that.
26:46
Then the guy, Dave Freeckett said something he was like, you know, I wonder how that'll change as the, like, sort of media starts to come out as you start to see videos of, like, atrocities and kids and women, and people are gonna have a different reaction when they see that. And that's exactly, like, literally the first video I saw that was such a heartbreak. I was like, we gotta do something. Gotta donate some money. I gotta I gotta
27:06
do something here. And so it's just been crazy to see kinda how it's all
27:11
playing out crazy is really the only way I could describe it. Like, it's crazy that this is happening.
27:15
It's crazy the way it happens. It's crazy that, like, life gets turned upside down for people, like, all the things I care about on a day to day basis,
27:23
instantly would be out the window
27:25
if something like this happened. Then you see the financial side. Like, this crazy that this war is like I forgot somebody said this, like, banks, not tanks. It's like we're basically fighting Russia with financial warfare. It's it's crazy. It's way worse. Like Because I was I was telling Ben, I'm like, Putin screwed has is he's gonna he screwed up the only thing that really matters. We'll one. Don't fuck with the money. Yeah.
27:47
Like, if you mess up some money. Paper prudent.
27:50
Yeah. Like, because because money is, like, the the most important money is more important than lives often. Or at least, you know, that's a perception. And so, like, yeah, it screwed up. And I I wanna tell you a point. I wanna pump your ego. So do do you know who you you said something? You didn't say it as eloquently as I'm about to explain, but Nassim ta how do you say his name kinda so bad at names? To leave. Okay. So he tweeted some really good. So, basically, he is the guy who, anti fragile. I forget what else he did. Black swan. Black swan. Yeah. And kind of an oddball, but he he's eccentric is a better word. And he,
28:21
basically says, like, don't read the news. That's like what he set has said that. He said that for a long time. And he's like, don't read things.
28:29
He he says, like, don't don't, don't read the news. Only read things if it's, like, fifty years old. That's his whole point. And he tweeted out this yesterday. He's, like, accept my book coming this March, buy pre order now. Yes. And he tweeted this out yesterday. And he goes, most days, ninety nine point nine percent of the news is noise.
28:49
The last few days, it's all signal.
28:52
Newspaper reading is useless except in crisis,
28:55
and I actually totally agree with that. And that's what you said. I I read the news every day, but I actually think it's kinda pointless
29:02
until it's like an urgent urgent thing, and that bar, the threshold of what's considered urgent, is actually really high.
29:09
Yeah. And also, there's a way to, like, you can use the news to inform yourself
29:14
to gather information to, like, in my case, it's just, like, have empathy what's going on and just not think about this intellectually.
29:22
But the the news can also use you. And you have to, like, figure out where that line is. Are you are are you using the news right now to gather what you wanna gather? Or
29:31
are is the news using you as like eyeballs that they're gonna drain for the, like, You go you bet your ass, like, you know, Fox and CNN, every news channel. Like, this is their
29:41
like, I'm not saying they don't care about what's going on, but this is their payday. Right? This is when they get their spikes. This is when they say we have twenty four seven news coverage. Stay here. Don't move. Don't change the channel. We are gonna send you drip by drip, play by play updates. And it's like, that's actually not the healthiest, you know, like most productive way that you can live your life. Is by, like, getting hooked onto their twenty four seven, you know, play by play update of of this war. So, you know, that's the kind of like caveat.
30:09
This last point I'll make, but basically, one of my heroes, he's on my wall here. You can't see him as Ted Turner.
30:15
And Ted Turner started CNN. I think he started it in, like, nineteen eighty one,
30:20
but it was kind of a failure. It lost a lot of money until nineteen eighty nine, nineteen ninety when America
30:26
or sorry, when Iraq
30:28
invaded Coit.
30:29
And the reason why is he sent over a bunch of news stations,
30:34
news reporters, and it was one of the first times that news reporter could, because of technology,
30:38
could film something, and it be aired live. And so it was one of the first war that was viewed live. And it changed people's sentiment of the war and it made CNN a huge company that one year. And that's kinda like what's gonna happen now except instead of a noose
30:52
instead of, like, a a publisher, it's gonna be Facebook and Twitter. They're just gonna crush for, like, the next couple years because we're glued to it. And, dude, there's a can I give you the kind of, like, the finance or crypto angle of what's going on here? So so, basically,
31:07
the west is doing this like financial warfare. And they're like, okay, economic sanctions. So we're gonna make it hard to trade. We're gonna make it hard to, to buy and sell goods. And then they're doing a form of like,
31:19
you know, they froze they froze them out of swift or kicked them off of swift. Okay. So now you can't now you can't do international transfers
31:24
And then they froze the central bank assets, which was like the craziest move. That was the financial nuke. So that was where all of a sudden, you know, they had six hundred fifty billion dollars of reserves,
31:37
and they needed those reserves. Why? Because
31:39
their local currency is crashing. So I think the ruble lost what? What was it, like, forty percent in the last day?
31:44
It's crazy. So so, you know, the average citizen is the one who's paying the price. Right? Putin basically attacked as certain citizens here because the currency is crashing.
31:53
Nobody wants to hold this currency anymore. There's a bank, you know, people are lined up to get money out of the bank. So normally the way the government props up their currency to prevent it from spiraling to zero is they will buy it back using their reserve assets. They hold dollars. They hold euros. They hold gold. They hold some crypto, and they use that to buy back the ruble.
32:11
But because it got frozen, they can't do that. And so that's gonna cause the occurrence to go down fall. So I think
32:17
this time crypto's not gonna play as big of a story, but you kinda have to bet that any country out there who's watching this is probably gonna say, well, we probably don't want the US to be able to just freeze all her assets.
32:29
So why are we holding the dollar as reserve? Why are we holding any currency that one country can one country or an alliance can basically freeze
32:37
our assets or cut us off or take us out of the banking system. So I think you're gonna see a pretty big move
32:43
first by, you know, the quote unquote bad guys. Basically, quote, first by the the folks that are afraid of the west to get out of the dollar and get more get more heavily into crypto because
32:54
this is a wake up call. Oh, wow. They can just cut they would do this. They'll cut us off completely. They'll freeze our accounts. And so I think in the next few years, you're gonna see, different regimes, like switch over to digital currencies that can't be controlled by any one country.
33:07
For a bunch of uneducated dumbasses, I think we did pretty good with this one. Yeah. We probably just said one thing or maybe it's Ben's Russian accent Like, that'll be where everyone just decides, you know, we're assholes and cancels us, but, other than that, you know, whatever. I think it's good. So I thought that Ukraine stuff was awesome. Did you do you agree, Ben?
33:26
Yeah. I thought it was really interesting. I thought this is the most interesting news story. This is all I wanna talk about. So I thought it was interesting. And and
33:33
I think it's cool. I think it's cool that we actually talk about. It's funny. Dude, I I so,
33:38
you know, people don't want it either way. So you I didn't if you don't talk about it, it's like, dude, how are you not talking about this? What do you, you know, why you, you think your thing is important? There's a war going on. Like, I tweeted something else out. I was like, oh, this is really cool. Is happening to some tech thing. And some this guy's like, bro. Kinda insensitive, don't you think? So war happening?
33:57
I was like, oh, am I just supposed to not speak anything else? Okay. Okay. And then you're talking about the war. It's like, oh, now you're now you're a war expert.
34:06
Well, you you you wrote something in the milk road that was great. You said,
34:10
I think the opening line was, we're not gonna mention the Bitcoin price today because it's not really that important. And I know what you guys are thinking, like, stay in your lane, milk road. And the truth is we know our purpose, but we wanna talk about and I forget, you went into, like, the, the, a bunch of different stuff. But I thought that was a really good line did people say about, the milk road writing about this? Let's see. I'm gonna I'll open up the this this thing is the the, like, feedback thing is so,
34:35
help full, but also,
34:37
you know, like daunting at the same time. Because Did you see
34:41
while you're pulling this up, I'll say something. Did you see when I tweeted out
34:45
are there any pro Putin people here? What is your opinion? I wanna hear your perspective because everyone I know is is is anti Putin. And a lot of people got pissed at me for asking that. And I thought that was crazy.
34:56
Yeah. I tweeted something else similar like that. I was like, hey. So, you know, just trying to, like, you know, educate myself. Like,
35:04
What would be? I think I said it something like,
35:08
I forgot exactly what I said, but I was basically asking, like, what's the would be the most kinda, like, pro
35:15
Russian reason for the invasion? Or at first, I was like, do do the average people Russia? Does that person in Russia
35:21
support this? Right?
35:23
And then I was like, you know, second question is is basically like, what would
35:28
what would be the, like, strongest justification for doing this, you know, or, you know, if if you're, if you're, like, in Russia's camp. And,
35:37
you know, I didn't get too much flack for it because I, like, had to, like, hedge it like crazy, but it's so crazy that you have to, like,
35:43
really,
35:45
like, soften everything so much.
35:48
Yeah. I guess you don't have to, but, if you don't, you know, you're definitely gonna like, the the discussion becomes about you rather than just being able to be intellectually curious and say, I'm trying to understand. I'm trying to learn. I'm trying to think for myself, and I'm not saying I disagree with anything. I just want to actually, like, understand all the perspectives that, you know, that exist. So I said Steel manning. I want a steel
36:08
steel man, the shift from the dog. I wrote what would be the most pro pro Russian invasion
36:13
basically, if you tried really hard to think about why this is justified, what would you come up with? And,
36:19
and, you know, then I got a bunch of answers. I got twenty six to that. And I was like, okay. That's cool. That's helpful to, to see here.
36:25
And what about the milk road? What were the replies? Did anyone tell you to f off?
36:29
I'm opening up.
36:31
What did they What did they say to Lebron James? When Lebron James gave his opinion on some stuff, everyone was like, shut up and
36:37
dribble. Lebron.
36:39
Anyway, what would you say about? Shut up in podcast. What are they gonna tell me to do? Shut up in Type Shutter. I don't know. I I'm gonna read the first. I'm gonna read the first three good like, good reviews. Like, we we have a a system. It's like one one milk cup, like the emoji. Like, one milk is terrible. Three milks is average or five milks is is great. So
36:57
the tone, the analysis, the new war insights humor, this is this has it all. That's five. Another five one. I like the insight into the conflict going on right now. Another one, I think he wrote this, struck absolutely the right tone. Sam, is that you? Or is that a different song? That's not me. I I replied. I said this really good. Okay. Great.
37:14
Great news letter today. Way to have a perspective and a sense of humanity.
37:17
I'm glad you avoided the business as usual in Dover to how crypto was involved in this. And then they complain about one,
37:24
like, I made this analogy because I I'd said this thing, which was like,
37:27
I love crypto when it's, like, helping the underdog, Like, when it banks the unbanked
37:31
or in people's currencies inflating, and they can move into this to preserve their wealth. But, like, there's an idea that, oh, Russia could use crypto to get these sanctions. That sucks. And then I was like, oh, shit.
37:42
How do I feel? It's a moral dilemma in a way. And, and I was like, then I realized, you know, technology is neutral. It's neither good nor evil.
37:49
It's just used. I was like, you know, the example of a car, like, you can use a car to, you know, drop your mother at the hospital when she needs help, or you can use a car as a getaway vehicle to get away from the, you know, crime scene. Doesn't make a car good or evil in either case. It's sort of like amoral.
38:06
And so some people work as some guys, like, disagree with that. Alright. Let me see if there's a one star review. Was there any negativity
38:11
I literally wow. This might be the highest rate to one we've had. Here we go. Here we go. Here's one.
38:16
You should effing stick to crypto and stay out of politics. Okay.
38:20
Number one, awful.
38:22
Shut up and dribble. No. The this one. Not one one milk. Awful.
38:26
Oh, I can't miss the opportunity to on some political ask. Oh, my god.
38:31
What?
38:33
You think you I you're typically here. So I would say you'd you'd kiss it. That's buy it. It's like
38:40
I don't
38:42
even know. I don't even know how you don't have to make that.
38:46
And they did the thing where every other letter is capitalized, you know, like Oh my god.
38:50
Man, reading your own comments. I'm not sure this is even useful. I might just, leave this up. So people have an outlet, but it's, like, here, go yell into this shoe box.
38:59
I'm not reading this stuff anymore.
39:01
I check all of it. We have a VA. Right now, check it all because it's new, but, like, we have VA who basically will just summarize the, like, here was your score,
39:09
and here's, like, the, the, kind of valid criticism and the valid, like, compliments.
39:15
So I'm just gonna read that from now on and not the, like, the raw stuff unless I really need to go hate my
39:21
Yeah. There's a bunch of I'm actually for this Maven thing I'm doing. I'm talking about feedback. I'm like, not all feedback's important. Like, for example,
39:28
if people complain about pricing, I'm like, I don't really listen to that. I I don't care what they say about price because I'm not gonna change.
39:34
Another thing is, like,
39:36
if they say, like, well, I wish you would have sent that email. This is what we've seen in the hustle. Like, send that email earlier. Sometimes I'm like, alright, I'll we'll do it. But then once we started sending at six AM, and I would get complaints of, like, I'm not listening to this anymore.
39:48
I'm not we're not doing it.
39:49
And so it it is hard to figure out what is important and what's not. And for a lot of feedback is actually not important. Totally. It's all noise or it whiplash you. You do one thing and then they'll say one thing. You do the other. I remember at Twitch, this happened. We went to an exec off-site, and they're like, alright. So the feedback amongst the execs to the CEO and the COO was like, you didn't listen to our input enough. Like, we felt out of the loop. You guys just decided it was too top down.
40:12
And then the next off-site was three months. So they they spent that whole off-site gathering, like, do you guys think? What are your opinions? What would you do? Like, trying to get, like, the bottoms up? Three months later, it was like, okay.
40:23
Let's read out the feedback from last time, the, you know, what's happened in the last three months? Like, god, can you guys just make a decision already? You're the leader. You're supposed to just make a call. Like, why do you keep asking You're supposed to have the answers. It's like, wow. It's like it's like really extreme whiplash of, like, you know, you never never happy one way or the other. And the the best answer I got was, like, If you take ten pieces of feedback, they're all informative.
40:46
Nine will inform you. They'll, like, they'll tell you about the person. It's not about you. It'll tell you about them. And then one will tell you something interesting or insightful about you. You have to figure out what's the one out of ten and what's the nine that's just about this person? Like, Some guy tweeted some feedback about my course, like, saying, oh, it's going great. Like, you know, it's been awesome. Blah, blah, blah, blah. He was talking about, like, I love the energy. Like, Sean it's like a performance. It's not just like, here's some slides. And the guy and so some guy replies, he goes, oh, it's a performance. It's all about energy.
41:14
So basically you, you know, nothing insightful, probably just a big motivational talk. Stuff you could have just found on the internet. And then the guy, the original guy responds, he's like,
41:23
like, you know, eighty percent of anything, you could just go Google and find, but reality is most people are not gonna know what to Google, even if they've they're not gonna go take the time to Google. So it's great to, like, have it all packed in. And the guy's like, yeah. Yeah. Yeah. All I heard is I'm paying just I'm paying nine hundred fifty dollars just to hear Sean pump me up. It's like, Alright. So that's
41:40
that's about him. That's not about, it's not about the course.
41:44
The biggest thing when when the hustle when we first, I remember we we hired two. It was just me and, another guy and we hired two or three interns, and so these weren't even full time employees. And we used to from the beginning, we did this thing where every, I think, Wednesday, we would go out to lunch. And I remember,
41:59
I remember the first time we had other people in that office.
42:03
I said, alright. Well, what do you guys wanna do for lunch? And I got three or four different answers. And I was like, oh, lesson learned. Never ask. And so from that point on, it was We're going here. I and I said, here's what we'll do. Every week, someone else, there's a decision maker.
42:19
But you can't ask. You just you decide. Right. And I found that people are just happier that way, and life's easier. And and oftentimes it's like that with feedback where it's just like, I'll listen to sometimes, but most of the time, I'm just doing what I wanna do, and I'm gonna deal with the consequences.
42:33
Right. So Can I yep? Can I ask you a random question about milk road? Is -- Yeah. -- who designed the
42:39
the, like, milk jar? Did that little graphic?
42:43
I don't know. Ben got that made, or he found that somewhere. I think he got it made from there's a guy who
42:50
we featured their,
42:52
their Dow. So it's pretty cool. There's a bunch of designers that got together in this Dow. I think it's called Victor Dow. And basically, like, high level designers, and they've basically created a, like, a, like, a ad hoc agency.
43:02
So companies come to them. They pay them, and then, like, anybody the Dow can, like, take the project, like, form a little guild, like, a five people, a former team, and they'll go design the thing. And, basically, it's like an agency that was, like, they don't have a hiring and firing process. You just sort join, and you can either contribute or not contribute at the end of the day. And so,
43:21
the thing is cool, but it's pretty expensive. It's pretty pricey. So I think we were featuring it, we talked to some guy, Ben met some guy, and then one of the people in Victor, that was like, yo, I just liked, like, I like the milk road and your thing's so ugly. Like, I got gotta improve it. So Are they Indian, Sean? Are they Indian? I don't think they're Indian. No. They,
43:37
and then and then been every Ben does is he's like, he'll just post something. He'll be like, hey, what do you I made this design. What do you think of this? And the guy's like, Ben, I know what you're doing. You just keep showing me stuff that's so ugly that, like, I can't help myself but go fix it. Fine. I'll fix it again. He's done that twice now.
43:52
So I just did a reverse Google image search, and there's an article written in the India times, and it's using your logo. So
44:00
so may so maybe that one is maybe that icon is one that they've been found instead of the design. But the guy designed, like, all the, like, banners and
44:07
the the breaks in the, like, in the in the email itself, like the format of the design of the email.
44:13
Wow. And look.
44:15
Because I really like the formatting and, and they're the design, and it's really simple. Like, it's basically just that little milk jar like that color blue. Yeah. And I I find it really simple, but attractive and memorable.
44:27
Oh, thank you. Wow. That's flattering. Are you describing Sean or the logo.
44:31
Why am I blessing right now? Katie's gotta watch out. So you gotta
44:37
much for that.
44:39
Alright. That's the episode, I think. Right? Yeah. We're seventy Sam's like, I got a hard stop at the hour. And then I'm like, just we just keep talking about random useless stuff.
00:00 44:57