00:00

I'm gonna blow your mind, ready.

I'm gonna blow your mind, ready.

00:02

So Scotland. You know Scotland, you've heard of that country, Scotland. Right? You've heard of that place? Familiar?

So Scotland. You know Scotland, you've heard of that country, Scotland. Right? You've heard of that place? Familiar?

00:07

Land of kilts and sheeps, but also Redheads, but, okay. And Redheads. But it's also home to one of the coolest SaaS businesses that I've ever heard of, so it's called petroleum exports.

Land of kilts and sheeps, but also Redheads, but, okay. And Redheads. But it's also home to one of the coolest SaaS businesses that I've ever heard of, so it's called petroleum exports.

00:19

They it's known as, Petax.

They it's known as, Petax.

00:30

Let's jump in. We got a bunch of stuff today. We're gonna do what's called a business breakdown dual.

Let's jump in. We got a bunch of stuff today. We're gonna do what's called a business breakdown dual.

00:36

Sean and I

Sean and I

00:38

western duel.

western duel.

00:39

Is that a Western duel, I guess? Is,

Is that a Western duel, I guess? Is,

00:42

we both did a business breakdown.

we both did a business breakdown.

00:45

And we didn't know that the other one was gonna do it. And so now we're gonna compare. I'm gonna go first, which gives you the advantage because the person who goes last always

And we didn't know that the other one was gonna do it. And so now we're gonna compare. I'm gonna go first, which gives you the advantage because the person who goes last always

00:54

usually wins in rad battles, because that's it's always like when you, you know, like, when they do, you know, when they do the applause or, like, person a. Person b. For the b, always wins.

usually wins in rad battles, because that's it's always like when you, you know, like, when they do, you know, when they do the applause or, like, person a. Person b. For the b, always wins.

01:06

I get to hear you say your thing and then I can make fun of what you said. Yeah. So, anyway, you're gonna you get the advantage, but that's okay. So I'll go first. Okay.

I get to hear you say your thing and then I can make fun of what you said. Yeah. So, anyway, you're gonna you get the advantage, but that's okay. So I'll go first. Okay.

01:16

But before I go first, I better give a shout out to Andrew Lynch from net income,

But before I go first, I better give a shout out to Andrew Lynch from net income,

01:21

it's a sub stack. It's where I I found,

it's a sub stack. It's where I I found,

01:23

this particular business, and I'm and I'm stealing

this particular business, and I'm and I'm stealing

01:26

a lot of his numbers. But

a lot of his numbers. But

01:28

I'm gonna blow your mind, ready.

I'm gonna blow your mind, ready.

01:30

So Scotland, you know Scotland, you've heard of that country, Scotland. Right? You've heard of that place? Familiar?

So Scotland, you know Scotland, you've heard of that country, Scotland. Right? You've heard of that place? Familiar?

01:35

Land of kilts and sheeps?

Land of kilts and sheeps?

01:38

But also,

But also,

01:39

I think there's sheeps there. I don't actually know. That's how little I know about Scotland, but also Redheads, but okay. And Redheads, But it's also home to one of the coolest SaaS businesses that I've ever heard of, so it's called petroleum exports.

I think there's sheeps there. I don't actually know. That's how little I know about Scotland, but also Redheads, but okay. And Redheads, But it's also home to one of the coolest SaaS businesses that I've ever heard of, so it's called petroleum exports.

01:52

They it's known as, Pet tax, Pad tax, challenging name. I know. And it's a highly technical

They it's known as, Pet tax, Pad tax, challenging name. I know. And it's a highly technical

01:58

specialist software crucial for oil and gas operations. You can go to PE

specialist software crucial for oil and gas operations. You can go to PE

02:03

t e x dot com to check it out, so pull it up, but pet pet techs.

t e x dot com to check it out, so pull it up, but pet pet techs.

02:08

It's a highly technical specialist software that's the backbone of some of the most important operations in the oil and gas industry, and it sounds boring, and that's because it is. However,

It's a highly technical specialist software that's the backbone of some of the most important operations in the oil and gas industry, and it sounds boring, and that's because it is. However,

02:20

they last year, they made seventy eight million pounds in revenue, which is about a hundred million dollars USD.

they last year, they made seventy eight million pounds in revenue, which is about a hundred million dollars USD.

02:27

And on that hundred million dollars in revenue, about sixty seven million of it was profit.

And on that hundred million dollars in revenue, about sixty seven million of it was profit.

02:32

And of that,

And of that,

02:34

of that profit, they basically took out all the money. So they paid a dividend of forty one million pounds which is about sixty million dollars, and that was paid to the owner. And it wasn't even retained to the company, which means for every dollar they took, about fifty two dollars went directly to the or fifty two cents went directly to the owner's pocket. Now

of that profit, they basically took out all the money. So they paid a dividend of forty one million pounds which is about sixty million dollars, and that was paid to the owner. And it wasn't even retained to the company, which means for every dollar they took, about fifty two dollars went directly to the or fifty two cents went directly to the owner's pocket. Now

02:54

here's the cool part. None of this is rumors. This isn't here say, I'm not like telling you I heard a story because in the UK, if you're a privately held company that hits a certain threshold in revenue, you have to submit your reports, and you can just log in. It's called company's house. You can just go there, and you can log in. You can see all this information. And so I went and looked at many, many, many years of their data, and I'm gonna tell you a story about how this company came to be. So it was started by this guy named we're gonna call him a. His name's Abe. His name he's he's a Muslim guy. Very, very, very, very challenging,

here's the cool part. None of this is rumors. This isn't here say, I'm not like telling you I heard a story because in the UK, if you're a privately held company that hits a certain threshold in revenue, you have to submit your reports, and you can just log in. It's called company's house. You can just go there, and you can log in. You can see all this information. And so I went and looked at many, many, many years of their data, and I'm gonna tell you a story about how this company came to be. So it was started by this guy named we're gonna call him a. His name's Abe. His name he's he's a Muslim guy. Very, very, very, very challenging,

03:25

first and last name. Can you see his name? Can you tell me how to pronounce that? Do you know how to pronounce that?

first and last name. Can you see his name? Can you tell me how to pronounce that? Do you know how to pronounce that?

03:31

Aldual Hamid

Aldual Hamid

03:32

is the first name, and the last name, but it's very challenging. There's a d and there's a j together. That's a very challenging

is the first name, and the last name, but it's very challenging. There's a d and there's a j together. That's a very challenging

03:38

So you are calling him Abe, or he goes by Abe. I'm calling him Abe. His last name is if you look at it have met many Muslim Abe, but, We're gonna call him Abe. His last name has a d and a j next to each other. I don't even know how to pronounce that sound.

So you are calling him Abe, or he goes by Abe. I'm calling him Abe. His last name is if you look at it have met many Muslim Abe, but, We're gonna call him Abe. His last name has a d and a j next to each other. I don't even know how to pronounce that sound.

03:52

So I'm sorry, Abe. He's

So I'm sorry, Abe. He's

03:54

Wait. It's a very challenging name to pronounce. So he started the company in nineteen ninety. It was based in al al

Wait. It's a very challenging name to pronounce. So he started the company in nineteen ninety. It was based in al al

04:02

Aberdeen Scotland, which is basically like a hub for oil industry. It's kind of like similar to what Houston in America is, and the company originally served as a petroleum consultants for and,

Aberdeen Scotland, which is basically like a hub for oil industry. It's kind of like similar to what Houston in America is, and the company originally served as a petroleum consultants for and,

04:13

consultants to the control petroleum industry as well as retailers, and they would create these mathematical models to help people in the in the oil and gas industry

consultants to the control petroleum industry as well as retailers, and they would create these mathematical models to help people in the in the oil and gas industry

04:22

manage their projects.

manage their projects.

04:24

And so today, they've kinda pivoted from consulting to providing software. They only have four hundred and twenty customers, and their core product

And so today, they've kinda pivoted from consulting to providing software. They only have four hundred and twenty customers, and their core product

04:31

is composed of complex products, which are complex features that, with descriptions like a multi phase network modeling and optimization

is composed of complex products, which are complex features that, with descriptions like a multi phase network modeling and optimization

04:40

and thermodynamics

and thermodynamics

04:41

fluid characterization package. So pretty complicated stuff. So as I said, they started as a consulting business and they did have done seventy eight million pounds in revenue last year, which is about a hundred million USD,

fluid characterization package. So pretty complicated stuff. So as I said, they started as a consulting business and they did have done seventy eight million pounds in revenue last year, which is about a hundred million USD,

04:53

fifty eight million USD and profit and fifty million in dividends.

fifty eight million USD and profit and fifty million in dividends.

04:58

Meaning, the company doesn't require much capital x. So they made all this profit and most all of it fifty eight million profit, fifty million came out of the business and went directly to the owner's pockets. And he's been doing this for years and years and years. Their business

Meaning, the company doesn't require much capital x. So they made all this profit and most all of it fifty eight million profit, fifty million came out of the business and went directly to the owner's pockets. And he's been doing this for years and years and years. Their business

05:12

biggest expense is employees. So because they're based in the UK, they pay UK software engineer salaries, which are lower than the US, making their average all in cost per each employee, of which they have eighty six of them, only a hundred and one thousand pounds per year. So the which means that they are doing nine hundred and eleven pounds.

biggest expense is employees. So because they're based in the UK, they pay UK software engineer salaries, which are lower than the US, making their average all in cost per each employee, of which they have eighty six of them, only a hundred and one thousand pounds per year. So the which means that they are doing nine hundred and eleven pounds.

05:30

Nine hundred nine hundred eleven thousand pounds. In revenue per employee.

Nine hundred nine hundred eleven thousand pounds. In revenue per employee.

05:35

So nine x.

So nine x.

05:37

Nine x basically ROI per per person that they hired.

Nine x basically ROI per per person that they hired.

05:40

So, yeah, this company absolutely kills it. And I wanna tell you when I was analyzing this company, and, if you look up Andrew Lynch, His sub stack, he does a really good job of explaining the technical details of the company. I wanna explain some of the entrepreneurial

So, yeah, this company absolutely kills it. And I wanna tell you when I was analyzing this company, and, if you look up Andrew Lynch, His sub stack, he does a really good job of explaining the technical details of the company. I wanna explain some of the entrepreneurial

05:55

takeaways that I had. So if you go to the top link Sean in our doc,

takeaways that I had. So if you go to the top link Sean in our doc,

06:00

right at the beginning of the story, you'll see the, sub stack where you can it's his Andrew Lynch has a thing called

right at the beginning of the story, you'll see the, sub stack where you can it's his Andrew Lynch has a thing called

06:06

net income, and that's where I discovered this. So I wanna tell you some of my takeaways. Takeaway one, Focus plus time. That's what this I did. So everyone talks about focus, but what does focus means? You basically, in my opinion, need to focus enough to turn your idea into a machine And then after that, I think you can deviate some attention away from that if you want, but the company needs focus, and that focus took takes time. So I went back and I looked at a lot of their revenue and so did Andrew. So if you scroll down Sean, you'll see a graph of the revenue.

net income, and that's where I discovered this. So I wanna tell you some of my takeaways. Takeaway one, Focus plus time. That's what this I did. So everyone talks about focus, but what does focus means? You basically, in my opinion, need to focus enough to turn your idea into a machine And then after that, I think you can deviate some attention away from that if you want, but the company needs focus, and that focus took takes time. So I went back and I looked at a lot of their revenue and so did Andrew. So if you scroll down Sean, you'll see a graph of the revenue.

06:36

And what you'll notice is that it took them fifteen

And what you'll notice is that it took them fifteen

06:39

years to get to ten million dollars in revenue, ten million pounds, where I'm gonna call it dollars or ten million dollars in revenue. And I know a lot of people, I think maybe you have done this with one of your businesses got to close to ten million in revenue in, like, one point five or one or two years, actually. And so fifteen years, particularly in, like, the tech Internet space,

years to get to ten million dollars in revenue, ten million pounds, where I'm gonna call it dollars or ten million dollars in revenue. And I know a lot of people, I think maybe you have done this with one of your businesses got to close to ten million in revenue in, like, one point five or one or two years, actually. And so fifteen years, particularly in, like, the tech Internet space,

06:58

It peeled horribly long, but I think that's okay. That's the right feeling. And so

It peeled horribly long, but I think that's okay. That's the right feeling. And so

07:03

what I try to do, something I've been thinking about for a while, is I ask myself, in ten or twenty years, will I be happy if I started this today? And that's a really good quote.

what I try to do, something I've been thinking about for a while, is I ask myself, in ten or twenty years, will I be happy if I started this today? And that's a really good quote.

07:12

But that answer is incredibly

But that answer is incredibly

07:15

murky more often than not. Sometimes it's like a, I think, yes. It's a very murky thing. And there's this famous story about Jeff Bezos when he started Amazon has this thing called the regret mineralization

murky more often than not. Sometimes it's like a, I think, yes. It's a very murky thing. And there's this famous story about Jeff Bezos when he started Amazon has this thing called the regret mineralization

07:25

framework where he says this story about, he's like, well, even though I had this good job, I decided to start Amazon because in eighty years, when I made or when I made a year's will I be proud that I started it today? The answer was yes, but in that same story, he also said that he thought at most Amazon could make is a hundred million dollars a year. So he he's not like he had the full picture. So it was like, yeah, I'd I think this can work. And so I went and talked to Damesh, who's the founder, Damesh, the founder of HubSpot. I talked to Kip, who is the CMO, and Kip joined Hubspot in year five. I asked Kip, how big do you think Hubspot could be when he joined, you know, how big did he think? So HubSpot today is worth twenty five billion dollars. When I asked him, he said, I thought it could hit a billion dollars in evaluation

framework where he says this story about, he's like, well, even though I had this good job, I decided to start Amazon because in eighty years, when I made or when I made a year's will I be proud that I started it today? The answer was yes, but in that same story, he also said that he thought at most Amazon could make is a hundred million dollars a year. So he he's not like he had the full picture. So it was like, yeah, I'd I think this can work. And so I went and talked to Damesh, who's the founder, Damesh, the founder of HubSpot. I talked to Kip, who is the CMO, and Kip joined Hubspot in year five. I asked Kip, how big do you think Hubspot could be when he joined, you know, how big did he think? So HubSpot today is worth twenty five billion dollars. When I asked him, he said, I thought it could hit a billion dollars in evaluation

08:07

a little bit of a stretch, but I thought we could do a billion dollars,

a little bit of a stretch, but I thought we could do a billion dollars,

08:10

in valuation, meaning, like,

in valuation, meaning, like,

08:13

what's that? Eighty million in revenue? I don't I don't know how that

what's that? Eighty million in revenue? I don't I don't know how that

08:16

And then I asked Dar mesh. I go, how big do you think he could get? He goes, really, I didn't have any idea, but I knew that all I wanted was a thousand customers who would each pay two hundred and fifty dollars. Which, by the way, this is only three million dollars a year in revenue. And I thought that would be a pretty cool milestone. And so the reason isn't all we or the outcome isn't always clear up. Is this worth it? Now The reason this is important is because the biggest pain in business is not just failing, but it's failing slowly and spending, like, a decade working on something and wasting your the most Non renewable resource, there is time, wasting that time, and, I mean, it's significantly worse, I think, than losing millions of dollars a year in one or two years of liquidity. And so that's where the it's kind of an art. It's a skill. It's an intuition. It's talent. That's where all the stuff comes with plates. So tactically, what does this mean? Ben Franklin said a small leak will sink a great ship. Warren Buffett said, so you'll find yourself in a chronically leaky boat

And then I asked Dar mesh. I go, how big do you think he could get? He goes, really, I didn't have any idea, but I knew that all I wanted was a thousand customers who would each pay two hundred and fifty dollars. Which, by the way, this is only three million dollars a year in revenue. And I thought that would be a pretty cool milestone. And so the reason isn't all we or the outcome isn't always clear up. Is this worth it? Now The reason this is important is because the biggest pain in business is not just failing, but it's failing slowly and spending, like, a decade working on something and wasting your the most Non renewable resource, there is time, wasting that time, and, I mean, it's significantly worse, I think, than losing millions of dollars a year in one or two years of liquidity. And so that's where the it's kind of an art. It's a skill. It's an intuition. It's talent. That's where all the stuff comes with plates. So tactically, what does this mean? Ben Franklin said a small leak will sink a great ship. Warren Buffett said, so you'll find yourself in a chronically leaky boat

09:09

Energy devoted to changing vessels is likely to be more productive than energy devoted to patching leaks.

Energy devoted to changing vessels is likely to be more productive than energy devoted to patching leaks.

09:15

So the point b, only work on shit.

So the point b, only work on shit.

09:18

As long as your boat ain't leaking. As long as you don't got any holes in that boat. But here's the thing, every early stage company -- Yeah. -- everything's leaky at first. So I went back to Dharmesh and back to kit. And I go, guys, tell me about this. HubSpot right now. Your guys' net revenue retention. I don't know what it is but I think it's like a hundred and five percent, meaning for every dollar that someone spends at HubSpot now, the next year, they're gonna spend a dollar and five cents.

As long as your boat ain't leaking. As long as you don't got any holes in that boat. But here's the thing, every early stage company -- Yeah. -- everything's leaky at first. So I went back to Dharmesh and back to kit. And I go, guys, tell me about this. HubSpot right now. Your guys' net revenue retention. I don't know what it is but I think it's like a hundred and five percent, meaning for every dollar that someone spends at HubSpot now, the next year, they're gonna spend a dollar and five cents.

09:42

And he said, and chip and, Kip, they they said a few things. So I'm gonna mix it up a little bit, but, or I'm gonna kinda interchange with what what they said. But I believe it was Kip. He said, Our churn at first was terrible. It was beyond bad. At one point, we are losing thirty percent of customers on an annual base on an annual basis. I then asked dharmesh, I go, was your guys' churn really that bad? He goes, yeah. It it it was definitely really bad. It it took about five years. In order to, like, get it to where it was a good place. And I said, well, what did you do to fix that? And he said, our goal was not to make customers happy. It was to make happy customers. Meaning everything from our branding, pitch, marketing, sales, service, everything should be thought out in a process where the outcome was a happy customer, and that meant it was everyone's job. Marketing needs to be reaching better fit customers who are less likely to churn, sales need to not sales shouldn't oversell

And he said, and chip and, Kip, they they said a few things. So I'm gonna mix it up a little bit, but, or I'm gonna kinda interchange with what what they said. But I believe it was Kip. He said, Our churn at first was terrible. It was beyond bad. At one point, we are losing thirty percent of customers on an annual base on an annual basis. I then asked dharmesh, I go, was your guys' churn really that bad? He goes, yeah. It it it was definitely really bad. It it took about five years. In order to, like, get it to where it was a good place. And I said, well, what did you do to fix that? And he said, our goal was not to make customers happy. It was to make happy customers. Meaning everything from our branding, pitch, marketing, sales, service, everything should be thought out in a process where the outcome was a happy customer, and that meant it was everyone's job. Marketing needs to be reaching better fit customers who are less likely to churn, sales need to not sales shouldn't oversell

10:30

and make sure they only qualify that these customers will likely succeed, which helps reduce the churn product needs to make sure they don't just build new features, but build a feature that reduces churns. And they have to make these features, make sure these features get adopted and churn is churn reduction is a team sport. You all start to remember there's a power law, which is ninety percent of stickiness will be driven by ten percent of the product and company features, and not to add a hundred features and instead just find ones that work and double down on those. So the point being,

and make sure they only qualify that these customers will likely succeed, which helps reduce the churn product needs to make sure they don't just build new features, but build a feature that reduces churns. And they have to make these features, make sure these features get adopted and churn is churn reduction is a team sport. You all start to remember there's a power law, which is ninety percent of stickiness will be driven by ten percent of the product and company features, and not to add a hundred features and instead just find ones that work and double down on those. So the point being,

10:59

all ships are leaky at first, Like, hopefully, you can figure out a way to do it. And last, but not least, my takeaway.

all ships are leaky at first, Like, hopefully, you can figure out a way to do it. And last, but not least, my takeaway.

11:06

Ten dollars a month,

Ten dollars a month,

11:08

It's rarely gonna feed a bunch of hungry mouths. So our listeners, including you and I, sometimes I do this as well. I had a twenty five dollar a month product.

It's rarely gonna feed a bunch of hungry mouths. So our listeners, including you and I, sometimes I do this as well. I had a twenty five dollar a month product.

11:17

A lot of times what we do is we look for arbitrages,

A lot of times what we do is we look for arbitrages,

11:20

or we look for, like, small little hacks. That's neat. That's all cool and all every once in a while. It gives you that dopamine hit. This company, the reason I like it is you know how much they charge per year, three hundred thousand dollars a year for a license to their company. They only have four hundred and fifty clients.

or we look for, like, small little hacks. That's neat. That's all cool and all every once in a while. It gives you that dopamine hit. This company, the reason I like it is you know how much they charge per year, three hundred thousand dollars a year for a license to their company. They only have four hundred and fifty clients.

11:35

And Andrew, in his sub stack article, he says something great. He goes, imagine you're running an oil rig that extracts hundreds of thousands of barrels of oil per day, Brent crude is currently,

And Andrew, in his sub stack article, he says something great. He goes, imagine you're running an oil rig that extracts hundreds of thousands of barrels of oil per day, Brent crude is currently,

11:45

crude is currently trading at seventy five dollars per barrel. So every hundred barrel is seventy five dollar seventy five hundred dollars in revenue. Your IT guy comes up to you and says, boss.

crude is currently trading at seventy five dollars per barrel. So every hundred barrel is seventy five dollar seventy five hundred dollars in revenue. Your IT guy comes up to you and says, boss.

11:53

Patax just raised their prices by ten percent. I think we could save three thousand dollars annually if we switch software providers to another thorough dynamic fluid, characterization,

Patax just raised their prices by ten percent. I think we could save three thousand dollars annually if we switch software providers to another thorough dynamic fluid, characterization,

12:02

package instead.

package instead.

12:04

You tell them to piss off, don't touch a thing. Just make sure nothing breaks. A measly three thousand dollars, there's nothing in the grand scheme a huge capital intense business. So they put their price up ten percent, and everyone moves moves on and and goes on before because, look, it helps them solve their business. So or it helps them solve problems in their business. It makes their business better. So this is my breakdown of this company.

You tell them to piss off, don't touch a thing. Just make sure nothing breaks. A measly three thousand dollars, there's nothing in the grand scheme a huge capital intense business. So they put their price up ten percent, and everyone moves moves on and and goes on before because, look, it helps them solve their business. So or it helps them solve problems in their business. It makes their business better. So this is my breakdown of this company.

12:23

I love it. I love this company.

I love it. I love this company.

12:26

I love these Scottish guys. Jonathan's giving me a clap. What do you think about this one?

I love these Scottish guys. Jonathan's giving me a clap. What do you think about this one?

12:31

Yeah. Jonathan, you like that one? Yeah. That was you you kinda touched it all. You got the opening story hit with impact, and then the three big takeaways at the end, and that, like, q and a with Kiv Darmesh was a nice touch. Yeah. That was a that was a good touch. I like how you brought that in. The,

Yeah. Jonathan, you like that one? Yeah. That was you you kinda touched it all. You got the opening story hit with impact, and then the three big takeaways at the end, and that, like, q and a with Kiv Darmesh was a nice touch. Yeah. That was a that was a good touch. I like how you brought that in. The,

12:48

there was a a bit of a spelling and pronunciation challenge at the beginning, but you overcame that. And I'm proud of you for doing that. Do you know what I say? I so I went to speech class when I was a kid, by the way. And I always tell people I just got a big tongue. My tongue's real thick. I got a thick tongue. Something that's hard for me. I'm big tongue. Yeah. I got I got fat dog. A pet. I give us a a fat tongue. It's just it's like a it's like a snail in there. It's like a slug. I got a slug of a of a tongue. I got molasses in my mouth. I don't know what to say. For me to say some words sometimes.

there was a a bit of a spelling and pronunciation challenge at the beginning, but you overcame that. And I'm proud of you for doing that. Do you know what I say? I so I went to speech class when I was a kid, by the way. And I always tell people I just got a big tongue. My tongue's real thick. I got a thick tongue. Something that's hard for me. I'm big tongue. Yeah. I got I got fat dog. A pet. I give us a a fat tongue. It's just it's like a it's like a snail in there. It's like a slug. I got a slug of a of a tongue. I got molasses in my mouth. I don't know what to say. For me to say some words sometimes.

13:18

It's like the further away from Saint Louis, a person gets or a company gets, like, the harder it is to to explain them

It's like the further away from Saint Louis, a person gets or a company gets, like, the harder it is to to explain them

13:27

That's interesting. You know, I I guess two things on mine. Right now, I bet there's opportunity to create, like, another FedEx, basically, which is

That's interesting. You know, I I guess two things on mine. Right now, I bet there's opportunity to create, like, another FedEx, basically, which is

13:36

with machine learning and AI, you could go into these kind of, like, old school big dollar type

with machine learning and AI, you could go into these kind of, like, old school big dollar type

13:44

companies and be like, hey, look, we have the ability to process your data or to give you insights. That's gonna save you money. Like, yeah, ten percent efficiency gains, twenty percent efficiency gains. And I bet that these opportunities, you know, have existed, but the the more powerful ML and AI get, the more those opportunities open up. And the bottleneck is people who even understand what problems exist inside of,

companies and be like, hey, look, we have the ability to process your data or to give you insights. That's gonna save you money. Like, yeah, ten percent efficiency gains, twenty percent efficiency gains. And I bet that these opportunities, you know, have existed, but the the more powerful ML and AI get, the more those opportunities open up. And the bottleneck is people who even understand what problems exist inside of,

14:05

you know, some shale gas company or, inside of ExxonMobil

you know, some shale gas company or, inside of ExxonMobil

14:09

and then being able to go sell into them. There was a guy who I met very early on when I was doing my startup. I didn't really know any other entrepreneurs, but there was one guy who also went to Duke. And I wonder what happened to him. I haven't kept in touch, but I think his name was Evan Anderson.

and then being able to go sell into them. There was a guy who I met very early on when I was doing my startup. I didn't really know any other entrepreneurs, but there was one guy who also went to Duke. And I wonder what happened to him. I haven't kept in touch, but I think his name was Evan Anderson.

14:22

And he was building a company

And he was building a company

14:25

that was,

that was,

14:27

selling to it was called Ozburg. Yeah. This this is exactly right. Let's see what happened with this company. So we were selling to

selling to it was called Ozburg. Yeah. This this is exactly right. Let's see what happened with this company. So we were selling to

14:35

companies that were in Oklahoma.

companies that were in Oklahoma.

14:37

So I was like, woah, you moved to Oklahoma, and he was like, yeah. This is what my customers are. And I was like, who's your customers? And it was, like, all the oil and gas companies

So I was like, woah, you moved to Oklahoma, and he was like, yeah. This is what my customers are. And I was like, who's your customers? And it was, like, all the oil and gas companies

14:46

that,

that,

14:47

that are in America. And what he was doing at that time was basically

that are in America. And what he was doing at that time was basically

14:50

quote, quote, big data,

quote, quote, big data,

14:52

big data form oil and gas. And I was like, that's a great idea.

big data form oil and gas. And I was like, that's a great idea.

14:56

I'm looking at it now. He's still there. See, fourteen years later, I've got this company's been been pretty successful.

I'm looking at it now. He's still there. See, fourteen years later, I've got this company's been been pretty successful.

15:02

And I was like, I would check-in with them and be like, you know, what's the challenge? And at this time, I'm working on a sushi restaurant chain.

And I was like, I would check-in with them and be like, you know, what's the challenge? And at this time, I'm working on a sushi restaurant chain.

15:07

And he's like, you know, I'll spend six months

And he's like, you know, I'll spend six months

15:11

just courting the right guy,

just courting the right guy,

15:13

the right suit at this, I company. I gotta take him to, you know, a football game. I gotta invite his family over. We gotta get to Nome. We gotta get him comfortable with this, you know, the software. But once I get once I close that deal,

the right suit at this, I company. I gotta take him to, you know, a football game. I gotta invite his family over. We gotta get to Nome. We gotta get him comfortable with this, you know, the software. But once I get once I close that deal,

15:26

these deals are gonna be worth millions and millions of dollars over time. They're never gonna rip us out once we get in. And so,

these deals are gonna be worth millions and millions of dollars over time. They're never gonna rip us out once we get in. And so,

15:33

I I'm curious how this company is doing today, but I know that, you know, fifteen years ago, I was like, this is a great idea. And I just I I intuitively knew it because I was like, the same effort it's taking me

I I'm curious how this company is doing today, but I know that, you know, fifteen years ago, I was like, this is a great idea. And I just I I intuitively knew it because I was like, the same effort it's taking me

15:47

to do this silly sushi restaurant thing, He's spending the same amount of time. He's just work working for a much bigger prize with much more defensibility

to do this silly sushi restaurant thing, He's spending the same amount of time. He's just work working for a much bigger prize with much more defensibility

15:55

and a much clearer value where he's going into an industry that's like had, you know, doesn't have this, this sort of software capability.

and a much clearer value where he's going into an industry that's like had, you know, doesn't have this, this sort of software capability.

16:03

He's like, I will sit here until I understand your problems, and then I will build solutions for this. And, I just love that approach. I think that's a, like, if people are willing to kinda, like, eat shit and go outside of their, like, kinda comfort zone Problem areas they understand is pretty big opportunities.

He's like, I will sit here until I understand your problems, and then I will build solutions for this. And, I just love that approach. I think that's a, like, if people are willing to kinda, like, eat shit and go outside of their, like, kinda comfort zone Problem areas they understand is pretty big opportunities.

16:19

Yeah. And it's cool. Did you see this graph from Andrew Lynch of this company's revenue?

Yeah. And it's cool. Did you see this graph from Andrew Lynch of this company's revenue?

16:24

Yeah. This is like a perfect hockey stick, but over a long period of time. Over a really long period of time. I mean, that's something you can talk about, like, this fifteen years to get to ten million.

Yeah. This is like a perfect hockey stick, but over a long period of time. Over a really long period of time. I mean, that's something you can talk about, like, this fifteen years to get to ten million.

16:33

You know, respect for continuing and making it all work?

You know, respect for continuing and making it all work?

16:37

That's not for me. What what's the voice quote?

That's not for me. What what's the voice quote?

16:41

Everyone make fun of getting rich quick? That's the best way to get rich.

Everyone make fun of getting rich quick? That's the best way to get rich.

16:45

And I'm gonna tell you about a company in a second here that said, in their first week, they did a million dollars of sales and never went less than that from their loss. And you think that that's not true. Correct? I think it's I think it's a lie. But I love a good lie.

And I'm gonna tell you about a company in a second here that said, in their first week, they did a million dollars of sales and never went less than that from their loss. And you think that that's not true. Correct? I think it's I think it's a lie. But I love a good lie.

16:59

I love a good lie. Tell me about this. Give me a good lie. Underestimate how much of startup stories are just lies. Okay. So here's my here's my big business breakdown. I see your dual, and I, I raise you.

I love a good lie. Tell me about this. Give me a good lie. Underestimate how much of startup stories are just lies. Okay. So here's my here's my big business breakdown. I see your dual, and I, I raise you.

17:12

In in my head, by the way, we were doing old fashioned western duel, but now I decided it's American gladiators and you're a laser and I'm blazer, and we're going at it on the joust. But so

In in my head, by the way, we were doing old fashioned western duel, but now I decided it's American gladiators and you're a laser and I'm blazer, and we're going at it on the joust. But so

17:22

This morning, I was thinking about

This morning, I was thinking about

17:25

who's lying out there?

who's lying out there?

17:27

Who's lying? Men's problems. Let's let's find my face finger that way. Okay. So Most people have heard that. You got a little you got a little situation.

Who's lying? Men's problems. Let's let's find my face finger that way. Okay. So Most people have heard that. You got a little you got a little situation.

17:36

Is that the issue? You got a little situation?

Is that the issue? You got a little situation?

17:39

No. No. No. No. That's not how we actually, here's the here's the actual train of thought. I was thinking about,

No. No. No. No. That's not how we actually, here's the here's the actual train of thought. I was thinking about,

17:45

these t shirt company, a little segue here to tell you how my brain works. Thinking about these t shirt companies. I don't know if you've seen this, but basically,

these t shirt company, a little segue here to tell you how my brain works. Thinking about these t shirt companies. I don't know if you've seen this, but basically,

17:51

in the last kinda like four years,

in the last kinda like four years,

17:54

there's been a bunch of companies start started that succeeded, that did the most obvious thing. And I've seen this happen again and again. That there's these windows of time

there's been a bunch of companies start started that succeeded, that did the most obvious thing. And I've seen this happen again and again. That there's these windows of time

18:04

Where big ideas are just hidden in plain sight.

Where big ideas are just hidden in plain sight.

18:07

And so, basically, in the last four years, a bunch of companies have started that do such a simple thing. They just sell

And so, basically, in the last four years, a bunch of companies have started that do such a simple thing. They just sell

18:13

basic

basic

18:15

plain men's t shirts.

plain men's t shirts.

18:17

And these were the big D to C ideas. So, like, anybody who wanted to do e commerce or drop shipping or D to C, build a brand.

And these were the big D to C ideas. So, like, anybody who wanted to do e commerce or drop shipping or D to C, build a brand.

18:25

The opportunity was sitting right in front of everybody. It was just men's t shirts.

The opportunity was sitting right in front of everybody. It was just men's t shirts.

18:29

So you have cuts,

So you have cuts,

18:31

fresh clean teas, true classic teas, built basics, all of these companies that in the last sort of four year window,

fresh clean teas, true classic teas, built basics, all of these companies that in the last sort of four year window,

18:38

have built hundred million dollar plus companies. So some of them do about fifty million a year in sales, some of them do a hundred or a hundred fifty million dollars a year in sales. So this this kinda range But to go in, like, a three year period

have built hundred million dollar plus companies. So some of them do about fifty million a year in sales, some of them do a hundred or a hundred fifty million dollars a year in sales. So this this kinda range But to go in, like, a three year period

18:49

to get to a hundred fifty million in sales, that's what true classic tees did,

to get to a hundred fifty million in sales, that's what true classic tees did,

18:53

is just bananas, to be honest. And so

is just bananas, to be honest. And so

18:58

I'll tell you the, the numbers for true classic. So year one, let's see where they do. So where'd my thing go? Okay. Your one, fifteen million, your two, ninety million, your three, a hundred fifty million, and top line revenue.

I'll tell you the, the numbers for true classic. So year one, let's see where they do. So where'd my thing go? Okay. Your one, fifteen million, your two, ninety million, your three, a hundred fifty million, and top line revenue.

19:12

And, and they did it all through Facebook ads selling plain,

And, and they did it all through Facebook ads selling plain,

19:15

you know, white, black, blue men's t shirts.

you know, white, black, blue men's t shirts.

19:19

And that's the same thing. I think fresh clean teas is somewhere like fifty million north of fifty million in revenue.

And that's the same thing. I think fresh clean teas is somewhere like fifty million north of fifty million in revenue.

19:25

I think cuts is over a hundred million.

I think cuts is over a hundred million.

19:29

It's crazy that these companies all scaled so fast doing this such an obvious thing. Where's the there was no massive innovation so I was thinking about this. I was like, man, there's these windows of time, and then I thought about what what are other windows that I've seen like this? And I stayed in the e commerce world and I thought about, oh, Back in twenty seventeen,

It's crazy that these companies all scaled so fast doing this such an obvious thing. Where's the there was no massive innovation so I was thinking about this. I was like, man, there's these windows of time, and then I thought about what what are other windows that I've seen like this? And I stayed in the e commerce world and I thought about, oh, Back in twenty seventeen,

19:47

both Roman and hims launched doing basically the same thing, and they launched within, like, a couple months of each other. Basically, people had the same idea at the same time, and both of them became billion dollar plus companies doing the same thing. What they did was, you know, I guess the summary is

both Roman and hims launched doing basically the same thing, and they launched within, like, a couple months of each other. Basically, people had the same idea at the same time, and both of them became billion dollar plus companies doing the same thing. What they did was, you know, I guess the summary is

20:03

They took advantage of a, what do you call it? An inflection?

They took advantage of a, what do you call it? An inflection?

20:08

Sam Lowe's this reflection

Sam Lowe's this reflection

20:10

inflection in Well, this was a regulation inflection. This was a regulatory inflection. And so what happened was,

inflection in Well, this was a regulation inflection. This was a regulatory inflection. And so what happened was,

20:16

there was proven market demand for drugs like Viagra,

there was proven market demand for drugs like Viagra,

20:20

or propecia

or propecia

20:21

or rogaine.

or rogaine.

20:22

And so hair loss or erectile dysfunction, there was a proven, like, business there.

And so hair loss or erectile dysfunction, there was a proven, like, business there.

20:27

And they started, like, in the early nineties. And so by twenty seventeen, the patents expired for those. And when the patents expired Have you ever taken a viagra or anything like that?

And they started, like, in the early nineties. And so by twenty seventeen, the patents expired for those. And when the patents expired Have you ever taken a viagra or anything like that?

20:37

Haven't. Have you? No. But the

Haven't. Have you? No. But the

20:39

if someone if someone told me it's awesome, I would. But I've never I've never It's awesome.

if someone if someone told me it's awesome, I would. But I've never I've never It's awesome.

20:45

Go.

Go.

20:48

So so the patents expired, and, basically, now there was, like, generic versions of these. And so what and at the same time, there's another regulatory inflection, which was that telemedicine

So so the patents expired, and, basically, now there was, like, generic versions of these. And so what and at the same time, there's another regulatory inflection, which was that telemedicine

20:57

was becoming more and more things were getting opened up for telemedicine. Meaning, You could prescribe drugs without going to the doc. So drugs without a doc was the key, kinda, like, just, you know, frame, framework for for this type of business. And so they both launch. And the hims guy says this guy, Andrew, dude, him. He goes,

was becoming more and more things were getting opened up for telemedicine. Meaning, You could prescribe drugs without going to the doc. So drugs without a doc was the key, kinda, like, just, you know, frame, framework for for this type of business. And so they both launch. And the hims guy says this guy, Andrew, dude, him. He goes,

21:16

we launched and

we launched and

21:18

In our first week, we did a million dollars of sales, and we've never done less than a million since then. I was like, wow. That is incredible. And it is true

In our first week, we did a million dollars of sales, and we've never done less than a million since then. I was like, wow. That is incredible. And it is true

21:26

that him scaled really quickly. So their revenue a week.

that him scaled really quickly. So their revenue a week.

21:29

So he said they never did he said they never did less than a million a week after watching? Yes.

So he said they never did he said they never did less than a million a week after watching? Yes.

21:34

Oh,

Oh,

21:35

Is that and I was like, that's insane. I was thinking about that because I was like, I've launched many things. The first week is

Is that and I was like, that's insane. I was thinking about that because I was like, I've launched many things. The first week is

21:42

You're talking about patching holes on a boat. That's how the first week is. It's like, you don't even have inventory. You don't have you don't have a million dollars of inventory. You don't have, like, to do a million dollars,

You're talking about patching holes on a boat. That's how the first week is. It's like, you don't even have inventory. You don't have you don't have a million dollars of inventory. You don't have, like, to do a million dollars,

21:52

How much are you spending in ads? Did you did you just blast, like, half a million dollars of ads in your first week? Facebook ads doesn't even let you ramp up that quickly. So I was a little bit suspicious of this.

How much are you spending in ads? Did you did you just blast, like, half a million dollars of ads in your first week? Facebook ads doesn't even let you ramp up that quickly. So I was a little bit suspicious of this.

22:02

And, the revenue did ramp quickly. So two they launched the very end of twenty seventeen. Twenty eighteen, the full year, they did twenty seven million dollars in revenue with twenty seven million dollars in ad spend. So they spent a hundred percent of revenue on ads, so they burned a bunch of money.

And, the revenue did ramp quickly. So two they launched the very end of twenty seventeen. Twenty eighteen, the full year, they did twenty seven million dollars in revenue with twenty seven million dollars in ad spend. So they spent a hundred percent of revenue on ads, so they burned a bunch of money.

22:17

Twenty nineteen, they did they went from twenty seven million to eighty three million, and they spent fifty million on ads. Twenty twenty, they were forecasting about a hundred forty million, and then I have the actual so they'll look check out this revenue growth. It's pretty insane. Twenty twenty one, they did two seventy. Twenty twenty two, they did five forty. Twenty twenty three, they're projecting to finish at eight hundred million in revenue. So this is a pretty crazy run-in,

Twenty nineteen, they did they went from twenty seven million to eighty three million, and they spent fifty million on ads. Twenty twenty, they were forecasting about a hundred forty million, and then I have the actual so they'll look check out this revenue growth. It's pretty insane. Twenty twenty one, they did two seventy. Twenty twenty two, they did five forty. Twenty twenty three, they're projecting to finish at eight hundred million in revenue. So this is a pretty crazy run-in,

22:39

what, six years to ramp up to eight hundred million in in revenue. So they could get to a a a billion in revenue in seven years. Exactly. They're burning money this whole time. Even now, even at five hundred million last year, only have two percent EBITDA margin. And that's the adjusted EBITDA. The real the they actually burn ten million, but the the adjusted is that they, you know, they they they made a a a small two percent,

what, six years to ramp up to eight hundred million in in revenue. So they could get to a a a billion in revenue in seven years. Exactly. They're burning money this whole time. Even now, even at five hundred million last year, only have two percent EBITDA margin. And that's the adjusted EBITDA. The real the they actually burn ten million, but the the adjusted is that they, you know, they they they made a a a small two percent,

23:02

margin. And so super capital intensive, they raise, like, two hundred something million dollars before going public and then in going public another

margin. And so super capital intensive, they raise, like, two hundred something million dollars before going public and then in going public another

23:10

two, three hundred million dollars went into the business, I think. And so it's taken them a lot of capital to get here. So I would say three things.

two, three hundred million dollars went into the business, I think. And so it's taken them a lot of capital to get here. So I would say three things.

23:18

Amazing story just in general, like, props to them for pulling this off. Like, they they built us out of an incubator. I ran an incubator for six years. It couldn't get one thing to even ten million in revenue. And they this was, like, a big hit that came out of a a incubator, which is very, very rare.

Amazing story just in general, like, props to them for pulling this off. Like, they they built us out of an incubator. I ran an incubator for six years. It couldn't get one thing to even ten million in revenue. And they this was, like, a big hit that came out of a a incubator, which is very, very rare.

23:33

Roe Roman, which now rebranded Row also came out of an incubator. At the same time. So the the two biggest incubator hits were were sort of the these two companies that did the same thing essentially. One did it for hair

Roe Roman, which now rebranded Row also came out of an incubator. At the same time. So the the two biggest incubator hits were were sort of the these two companies that did the same thing essentially. One did it for hair

23:44

So I think,

So I think,

23:46

hims did it for hair, hair loss, and Roe did it for ED, and then they both just added the other product as they went.

hims did it for hair, hair loss, and Roe did it for ED, and then they both just added the other product as they went.

23:53

So impressive in that way, the revenue growth impressive,

So impressive in that way, the revenue growth impressive,

23:56

the ad spend and the money burned incredible.

the ad spend and the money burned incredible.

23:59

I now question. Is this even a good business? So, like,

I now question. Is this even a good business? So, like,

24:03

They basically showed that their

They basically showed that their

24:05

their cacs or their cost to acquire customers,

their cacs or their cost to acquire customers,

24:09

is really high. Like, their cost to acquire customers is basically what do I have in here? It's like a hundred plus dollars

is really high. Like, their cost to acquire customers is basically what do I have in here? It's like a hundred plus dollars

24:16

to acquire a customer. Let me grab it.

to acquire a customer. Let me grab it.

24:19

I think it's like a hundred fifty dollars on average to to acquire a customer. The lowest it's been is, like, a hundred dollars to acquire a customer.

I think it's like a hundred fifty dollars on average to to acquire a customer. The lowest it's been is, like, a hundred dollars to acquire a customer.

24:26

And,

And,

24:27

they basically think they think they three x their money in three years, which is actually not very good for e com. Like, My e com business, which is nowhere near the scale of this,

they basically think they think they three x their money in three years, which is actually not very good for e com. Like, My e com business, which is nowhere near the scale of this,

24:37

is way more efficient than this. Like, they're trying to pay back essentially, you know, a little over a year.

is way more efficient than this. Like, they're trying to pay back essentially, you know, a little over a year.

24:43

I you know, we try to pay back in in two months. And so, like, you know, it's amazing what just pure aggression

I you know, we try to pay back in in two months. And so, like, you know, it's amazing what just pure aggression

24:50

they approached this business with. They were just like, yeah. We're gonna scale this thing, and we're gonna pour a bunch of money in. We're gonna burn a bunch of money, but we're gonna ramp up and, like, We're gonna try to thread the needle to get this business to work when it's at the billions in in in scale.

they approached this business with. They were just like, yeah. We're gonna scale this thing, and we're gonna pour a bunch of money in. We're gonna burn a bunch of money, but we're gonna ramp up and, like, We're gonna try to thread the needle to get this business to work when it's at the billions in in in scale.

25:05

And,

And,

25:06

they kinda pulled it off because they went public with v s back and they got liquid before the business really worked. This week, I had to chop down a tree at my farm, and I didn't have an axe. So I just used a sledge hammer instead. So my wife was like, oh, do you you you chop down that tree? I was like, I I kinda smashed it down. And, I just sledge Hamner hammered it down. And that's kinda what these guys did. They just kinda sledge hammered their way into into the market.

they kinda pulled it off because they went public with v s back and they got liquid before the business really worked. This week, I had to chop down a tree at my farm, and I didn't have an axe. So I just used a sledge hammer instead. So my wife was like, oh, do you you you chop down that tree? I was like, I I kinda smashed it down. And, I just sledge Hamner hammered it down. And that's kinda what these guys did. They just kinda sledge hammered their way into into the market.

25:31

Have you seen this guy that's on TikTok that just chopped the tree and all, like, it gets, like, a million views, and it's all there's, like, hundreds of thousands of women commenting, like,

Have you seen this guy that's on TikTok that just chopped the tree and all, like, it gets, like, a million views, and it's all there's, like, hundreds of thousands of women commenting, like,

25:41

like, just, like, gasp. Like, I need him. Is he hot? Shirtless? No. Is he shirtless and hot? He shirtless

like, just, like, gasp. Like, I need him. Is he hot? Shirtless? No. Is he shirtless and hot? He shirtless

25:48

and he just chops the tree perfectly. Like,

and he just chops the tree perfectly. Like,

25:51

It's like it takes him, like,

It's like it takes him, like,

25:53

ten strokes to crack down this giant tree. Is that like a innuendo for sex or something?

ten strokes to crack down this giant tree. Is that like a innuendo for sex or something?

25:59

Literally, like, I'm watching this thing, and I'm like, I don't even know why I'm watching this. This is, like, just

Literally, like, I'm watching this thing, and I'm like, I don't even know why I'm watching this. This is, like, just

26:05

from a purely objective level, this is very attractive.

from a purely objective level, this is very attractive.

26:09

I'm just gonna say this. This is very backwards hat?

I'm just gonna say this. This is very backwards hat?

26:13

He just wears, like, suspenders.

He just wears, like, suspenders.

26:16

He looks like a lumber jack, but he's, like, g queued out. So he's he's, like, a groomed lumber jack that's super, like, with a crossfit body that chops down trees instead of going to the gym. Since is incredible.

He looks like a lumber jack, but he's, like, g queued out. So he's he's, like, a groomed lumber jack that's super, like, with a crossfit body that chops down trees instead of going to the gym. Since is incredible.

26:26

So,

So,

26:27

you're kind of like that. You're like that, but, like, you know,

you're kind of like that. You're like that, but, like, you know,

26:30

not.

not.

26:32

I'm like, I'm I'm like store brand that. Yeah. You're you're like in the in the in the zip code of that.

I'm like, I'm I'm like store brand that. Yeah. You're you're like in the in the in the zip code of that.

26:42

So that's basically what these guys did. They kinda brute force their way, but why don't you think this is a good business?

So that's basically what these guys did. They kinda brute force their way, but why don't you think this is a good business?

26:48

Well, I think that the I mean, just the amount of capital it took to to get to this business value. So it's worth one point eight billion on paper.

Well, I think that the I mean, just the amount of capital it took to to get to this business value. So it's worth one point eight billion on paper.

26:56

And they've taken five hundred million to get here. So, like, if you just zoom out, it's, like,

And they've taken five hundred million to get here. So, like, if you just zoom out, it's, like,

27:00

we, three and a half extra money. Like, that's not the most impressive thing. But, like, when you frame it the other way, which is, like, we're gonna hit a billion dollars in sales, and we've done this in seven years. And, like, you know, we've built the largest telemedicine

we, three and a half extra money. Like, that's not the most impressive thing. But, like, when you frame it the other way, which is, like, we're gonna hit a billion dollars in sales, and we've done this in seven years. And, like, you know, we've built the largest telemedicine

27:14

health company for men and women, and you could frame it one way, or you could just kinda look at it another. It's like, now here's a business where if I have to pay hundred fifty dollars to acquire a customer and give takes two years to pay it back. If if that, we'll see how it all projects out. It's super sensitive to, like, you know, they they pour so much money into marketing. And what if, you know, Facebook changed, like, and how's that gonna affect them? Like, there's all these factors. I'm not saying it's a bad business,

health company for men and women, and you could frame it one way, or you could just kinda look at it another. It's like, now here's a business where if I have to pay hundred fifty dollars to acquire a customer and give takes two years to pay it back. If if that, we'll see how it all projects out. It's super sensitive to, like, you know, they they pour so much money into marketing. And what if, you know, Facebook changed, like, and how's that gonna affect them? Like, there's all these factors. I'm not saying it's a bad business,

27:36

but,

but,

27:37

like, compared to that FedEx company, that does a hundred million in sales and dividends out fifty million to the owner?

like, compared to that FedEx company, that does a hundred million in sales and dividends out fifty million to the owner?

27:43

I know which business I would wanna own. Right?

I know which business I would wanna own. Right?

27:46

I the business that didn't meet a spac,

I the business that didn't meet a spac,

27:49

to to to succeed as the business I would wanna hope. The one that's divinating out, like, a mega yacht every year to this guy, like, that's sick. And it has, like, you know, one one millionth of the notoriety

to to to succeed as the business I would wanna hope. The one that's divinating out, like, a mega yacht every year to this guy, like, that's sick. And it has, like, you know, one one millionth of the notoriety

28:00

of a brand like it. So what did you say about the, yeah, tell me the the other interesting. So other cool things. So I think so, seriously, some notable things for the research. I wanna put these on the screen. So I put the put the images on screen on YouTube. If you're listening to the podcast, just pause. Go to YouTube. Because you gotta see these. So if you go back through their history,

of a brand like it. So what did you say about the, yeah, tell me the the other interesting. So other cool things. So I think so, seriously, some notable things for the research. I wanna put these on the screen. So I put the put the images on screen on YouTube. If you're listening to the podcast, just pause. Go to YouTube. Because you gotta see these. So if you go back through their history,

28:17

first, take a look at this thing I have on page. What is this page like? Three or something of this, the P and L. Do you see this P and L?

first, take a look at this thing I have on page. What is this page like? Three or something of this, the P and L. Do you see this P and L?

28:25

This was in their s one to go public.

This was in their s one to go public.

28:29

It's literally it just says revenue

It's literally it just says revenue

28:31

twenty seven.

twenty seven.

28:33

Gross profit, eight. Adjusted EBITDA,

Gross profit, eight. Adjusted EBITDA,

28:36

Minus sixty eight. That's the P and L they shared in their investor presentation. I was like, what kinda kindergarten

Minus sixty eight. That's the P and L they shared in their investor presentation. I was like, what kinda kindergarten

28:43

level of detail is this. What kind of free on P and L are you doing? Like, this is fucking ridiculous.

level of detail is this. What kind of free on P and L are you doing? Like, this is fucking ridiculous.

28:49

And I was like, this is why spax This is why specs went to shit because it's, like, half the P and L is just projections. What you can't do if you go public the traditional way, but in specs, you could do these, like, forward looking projections And that's how all these guys got away with it. It's like, we got a shitty business now, but, like, five years from now, we are crushing.

And I was like, this is why spax This is why specs went to shit because it's, like, half the P and L is just projections. What you can't do if you go public the traditional way, but in specs, you could do these, like, forward looking projections And that's how all these guys got away with it. It's like, we got a shitty business now, but, like, five years from now, we are crushing.

29:06

And that's, like, you know, they they were able to tell that story, whereas you can't make forward looking statements the traditional way of going public.

And that's, like, you know, they they were able to tell that story, whereas you can't make forward looking statements the traditional way of going public.

29:12

And then I was like, this is some absolute basic beginner looking thing. I I was just stunned at this. This is, like, On the SEC website, that's a that's an embarrassment.

And then I was like, this is some absolute basic beginner looking thing. I I was just stunned at this. This is, like, On the SEC website, that's a that's an embarrassment.

29:22

Alright. Second thing. You can go to their website,

Alright. Second thing. You can go to their website,

29:25

and you could find in the web archive their landing page from the beginning. So check this out. This was first landing page. This is like the month that they launched. It just said, guy.

and you could find in the web archive their landing page from the beginning. So check this out. This was first landing page. This is like the month that they launched. It just said, guy.

29:34

I could stagger odds two things happen. One, the universe, two, you.

I could stagger odds two things happen. One, the universe, two, you.

29:39

You let's walk at our full height, honor our forebearers, have a smile and for god's sake, floss. Shop now. And it just go it just scrolls down and it just says sex.

You let's walk at our full height, honor our forebearers, have a smile and for god's sake, floss. Shop now. And it just go it just scrolls down and it just says sex.

29:49

This is this is simple. You need directions when you want them and not when it's convenient for your And there's eggplant emojis that shop sex. And there was another one for hair. Like, that was, like, the same. It was like, she needs to run her fingers through your hair. A lot. And then it just says, our best sellers, and there's just very basic bottle

This is this is simple. You need directions when you want them and not when it's convenient for your And there's eggplant emojis that shop sex. And there was another one for hair. Like, that was, like, the same. It was like, she needs to run her fingers through your hair. A lot. And then it just says, our best sellers, and there's just very basic bottle

30:05

that says

that says

30:06

finasteride.

finasteride.

30:07

And that's, like, the the generic name for propecia

And that's, like, the the generic name for propecia

30:11

or, like, you know, for for, like, the hair, male pattern baldness, like, drug or whatever. And they were just selling it for twenty eight dollars. And then there was they only had two SKUs. Finasteride and vitamins. Not even, like, vitamin c. This is guys. And but here's some vitamins.

or, like, you know, for for, like, the hair, male pattern baldness, like, drug or whatever. And they were just selling it for twenty eight dollars. And then there was they only had two SKUs. Finasteride and vitamins. Not even, like, vitamin c. This is guys. And but here's some vitamins.

30:26

And so

And so

30:27

Incredible to go see. I love love love looking at successful businesses early landing pages just to see. Like, how did they get their business out the door? One thing that's interesting is from the beginning, they actually had a pretty strong, like, branding and brand identity. So if you go do this with, like, Snapchat or Uber,

Incredible to go see. I love love love looking at successful businesses early landing pages just to see. Like, how did they get their business out the door? One thing that's interesting is from the beginning, they actually had a pretty strong, like, branding and brand identity. So if you go do this with, like, Snapchat or Uber,

30:43

The first websites are just absolutely ugly. Like, I have this blog post on the internet that's called, like, you just search

The first websites are just absolutely ugly. Like, I have this blog post on the internet that's called, like, you just search

30:49

Sean Prairie,

Sean Prairie,

30:51

early startup

early startup

30:53

landing pages medium.

landing pages medium.

30:56

Ten throw okay. It's called ten throwback startup home pages. When did you write that article?

Ten throw okay. It's called ten throwback startup home pages. When did you write that article?

31:01

I wrote this in two thousand fifteen.

I wrote this in two thousand fifteen.

31:03

So this was Wait. What month? What month?

So this was Wait. What month? What month?

31:05

June.

June.

31:06

Oh, you beat me. On October twelfth two thousand fifteen, I wrote an article at said proof that your favorite startup started out awful, and it's a list of ten landing pages -- Yeah. You copy. -- your favorite startup.

Oh, you beat me. On October twelfth two thousand fifteen, I wrote an article at said proof that your favorite startup started out awful, and it's a list of ten landing pages -- Yeah. You copy. -- your favorite startup.

31:17

I think we knew each other then. So

I think we knew each other then. So

31:20

you can go look at Airbnb's. It's, like, literally plain black and white. And it just says, forget hotels. Stay with a local.

you can go look at Airbnb's. It's, like, literally plain black and white. And it just says, forget hotels. Stay with a local.

31:26

Uber, it looks like,

Uber, it looks like,

31:28

you know, janky thing. Everyone's private driver, but it looks like a old school car service.

you know, janky thing. Everyone's private driver, but it looks like a old school car service.

31:33

Snapchat, it's got one of these, like, yellow bubbles that's, like, the, like,

Snapchat, it's got one of these, like, yellow bubbles that's, like, the, like,

31:38

By now. You know, like, you know, half buy two. Get one. And it just says free download inside, and it says, introducing Snapchat real time picture chatting for iPhone, and it's two girls and they're, like, bikinis. And it just says seven seconds on the screen and, like, you know, a self destructing photo. So you can see what early start of landing pages looked like. What's interesting that was unique in the hims case is that they actually had their branding from date one, which I think was a smart move by them. And they specifically branded it, the opposite colors is every other male wellness products. Every other male wellness product is essentially blue.

By now. You know, like, you know, half buy two. Get one. And it just says free download inside, and it says, introducing Snapchat real time picture chatting for iPhone, and it's two girls and they're, like, bikinis. And it just says seven seconds on the screen and, like, you know, a self destructing photo. So you can see what early start of landing pages looked like. What's interesting that was unique in the hims case is that they actually had their branding from date one, which I think was a smart move by them. And they specifically branded it, the opposite colors is every other male wellness products. Every other male wellness product is essentially blue.

32:10

And they were like, no. We'll go all neutral color scheme, lowercase,

And they were like, no. We'll go all neutral color scheme, lowercase,

32:14

like, lowercase font for the for the brand name, and we're gonna make it subtle because There's a stigma and a taboo around this. It's not something you wanna brag about. We don't want bold. We want, like, we wanna be able to give you this package in a discreet way, and You know, and I know, and that's all who needs to know. And I thought that was, like, a smart thing for them to get right from day one.

like, lowercase font for the for the brand name, and we're gonna make it subtle because There's a stigma and a taboo around this. It's not something you wanna brag about. We don't want bold. We want, like, we wanna be able to give you this package in a discreet way, and You know, and I know, and that's all who needs to know. And I thought that was, like, a smart thing for them to get right from day one.

32:33

All their models are like usually like a cool looking black dude or like a racially ambiguous guy. It's like,

All their models are like usually like a cool looking black dude or like a racially ambiguous guy. It's like,

32:39

some it's like, oh, I I can see myself at you. I'm a young cool guy with, like, I wear it like, cool j's as well. Were your parents all of the power rangers? Why are you all solace?

some it's like, oh, I I can see myself at you. I'm a young cool guy with, like, I wear it like, cool j's as well. Were your parents all of the power rangers? Why are you all solace?

32:50

It's usually, like, like, I'm pretty racially ambiguous good looking guy with nice teeth.

It's usually, like, like, I'm pretty racially ambiguous good looking guy with nice teeth.

32:55

Yeah. The teeth throws on point. Versus, like,

Yeah. The teeth throws on point. Versus, like,

32:57

of

of

32:58

Viagra is always like Brett Farm looking guy. And then this was one of their early,

Viagra is always like Brett Farm looking guy. And then this was one of their early,

33:04

early ads. So it's just, it just says get hard or get your money back. And it's just a guy holding a tiny pill.

early ads. So it's just, it just says get hard or get your money back. And it's just a guy holding a tiny pill.

33:11

And it's and then what FTC is that guy?

And it's and then what FTC is that guy?

33:14

Oh, dude. His hand is, like, a gradient in Photoshop. It's, like, all all the colors are you you see here.

Oh, dude. His hand is, like, a gradient in Photoshop. It's, like, all all the colors are you you see here.

33:20

So It says eggplant emoji rise to the occasion for less. So one thing that they did really well was they figured out how do you advertise on Facebook with a taboo product So they would do stuff like they would show a picture of a cactus that was limp. And then another and it it would be like, with him, so you don't have this problem. So, like, how do you and so they were very clever clever with their marketing. They also did stuff where they would create ad inventory. So they would go to,

So It says eggplant emoji rise to the occasion for less. So one thing that they did really well was they figured out how do you advertise on Facebook with a taboo product So they would do stuff like they would show a picture of a cactus that was limp. And then another and it it would be like, with him, so you don't have this problem. So, like, how do you and so they were very clever clever with their marketing. They also did stuff where they would create ad inventory. So they would go to,

33:44

like stadiums and they'd be like, alright, bunch of guys who are in our demographic are at the stadium.

like stadiums and they'd be like, alright, bunch of guys who are in our demographic are at the stadium.

33:50

We could either spend, like, four hundred thousand dollars to get on the jumbo tron and, along with, like, you know, BMW and a bunch of other big brands,

We could either spend, like, four hundred thousand dollars to get on the jumbo tron and, along with, like, you know, BMW and a bunch of other big brands,

33:59

or

or

34:00

they went to the stadium facility manager, and they were like, hey, How much for the urinal space? They're like, what? They're like, yeah, we wanna put a little ad on the urinal, and we'll give you guys, like, you know, x price to be in every urinal. And they're like, Yeah. I think we got, like, thirty seconds of guys' focused time while they're touching their thing. Like, you know, looking at our ad, this is actually kinda perfect.

they went to the stadium facility manager, and they were like, hey, How much for the urinal space? They're like, what? They're like, yeah, we wanna put a little ad on the urinal, and we'll give you guys, like, you know, x price to be in every urinal. And they're like, Yeah. I think we got, like, thirty seconds of guys' focused time while they're touching their thing. Like, you know, looking at our ad, this is actually kinda perfect.

34:20

And so they would create new ad inventory that didn't even exist before just trying to figure out how do we spend a hundred million dollars in a way that's gonna be as efficient as So they're, you know, really just, like, very they're, like, a very advanced marketing agency, essentially.

And so they would create new ad inventory that didn't even exist before just trying to figure out how do we spend a hundred million dollars in a way that's gonna be as efficient as So they're, you know, really just, like, very they're, like, a very advanced marketing agency, essentially.

34:35

Are software is the worst. Have you heard of HubSpot?

Are software is the worst. Have you heard of HubSpot?

34:38

See, most CRMs are a cobbled together mess, but HubSpot is easy to adopt and actually looks gorgeous. They kind of love our new CRM. Our software is the best. HubSpot,

See, most CRMs are a cobbled together mess, but HubSpot is easy to adopt and actually looks gorgeous. They kind of love our new CRM. Our software is the best. HubSpot,

34:49

grow better.

grow better.

34:50

And another thing that they did, and I did a big breakdown on this one time, was So if you Google Viagra

And another thing that they did, and I did a big breakdown on this one time, was So if you Google Viagra

34:56

alternative

alternative

34:57

or cheap viagra or buy viagra online, they show up number one And what they did was they actually sponsored a ton of Twitch people.

or cheap viagra or buy viagra online, they show up number one And what they did was they actually sponsored a ton of Twitch people.

35:05

And somehow that, like, got their links out there and they, like, They got tons and tons of backlinks really early on. So hymns dot com ranked quite high.

And somehow that, like, got their links out there and they, like, They got tons and tons of backlinks really early on. So hymns dot com ranked quite high.

35:16

So they were able to get, like, it was I think if you I think it's viagra alternative might be, like, their word. I forget which it's one of those pages, and that's where they got most of the revenue early on. Oh, wow. That's know, there's another cool thing. I'll put this graphic on the stream.

So they were able to get, like, it was I think if you I think it's viagra alternative might be, like, their word. I forget which it's one of those pages, and that's where they got most of the revenue early on. Oh, wow. That's know, there's another cool thing. I'll put this graphic on the stream.

35:29

It's this graphic from I don't have you ever read Sacra, by the way? I don't even know if that's how you Yeah. Yeah. Yeah. The, like, the research thing. I like it. Yeah. They're pretty cool. I don't think people know about them, but they put out, like, really good research.

It's this graphic from I don't have you ever read Sacra, by the way? I don't even know if that's how you Yeah. Yeah. Yeah. The, like, the research thing. I like it. Yeah. They're pretty cool. I don't think people know about them, but they put out, like, really good research.

35:41

S a c r a. Yeah. So they had done a thing, and they had this great graphic, which is basically they were like, telemedicine

S a c r a. Yeah. So they had done a thing, and they had this great graphic, which is basically they were like, telemedicine

35:48

was like this, like, trend, like, this, like, a lot of opportunity in telemedicine right now, and they just show this picture of, like, a guy and a girl, and it's a diagram. And, basically, it's like, you could look from, like, head to toe

was like this, like, trend, like, this, like, a lot of opportunity in telemedicine right now, and they just show this picture of, like, a guy and a girl, and it's a diagram. And, basically, it's like, you could look from, like, head to toe

35:59

Literally, from head to toe, and you just go down the body, you're like, okay, hair.

Literally, from head to toe, and you just go down the body, you're like, okay, hair.

36:03

There's hymns, there's keeps, there's Roman.

There's hymns, there's keeps, there's Roman.

36:07

Okay. Then you go down to, like, eyes, and it's, like, there's prescription contact, Hubble,

Okay. Then you go down to, like, eyes, and it's, like, there's prescription contact, Hubble,

36:12

you know, it was it was a DDC startup doing prescription contacts through a phone app instead of going to the doctor. When you go to their bicep, it's like,

you know, it was it was a DDC startup doing prescription contacts through a phone app instead of going to the doctor. When you go to their bicep, it's like,

36:21

there's a bunch of TRT companies like HoneHealth and others. And then you're like, and then you go to, you know, their abs. It's like weight loss. You go to the crotch. It's like, here's the Directile dysfunction. You go down to the toes. It's like, here's toe fungus. That he's got a little pet next to him. It's like, hey, here's pop. It's it's insurance for your pet. So you have, like, instead of going to the vet for everything, you can use Pop. And, and so it's, like,

there's a bunch of TRT companies like HoneHealth and others. And then you're like, and then you go to, you know, their abs. It's like weight loss. You go to the crotch. It's like, here's the Directile dysfunction. You go down to the toes. It's like, here's toe fungus. That he's got a little pet next to him. It's like, hey, here's pop. It's it's insurance for your pet. So you have, like, instead of going to the vet for everything, you can use Pop. And, and so it's, like,

36:45

and then they do the same thing for women, and you could just literally see, like, If you've seen those diagrams that were like, there was a big opportunity to unbundle Craigslist, and they took Craigslist's homepage and they showed out every little section of Craigslist became its own billion dollar startup?

and then they do the same thing for women, and you could just literally see, like, If you've seen those diagrams that were like, there was a big opportunity to unbundle Craigslist, and they took Craigslist's homepage and they showed out every little section of Craigslist became its own billion dollar startup?

36:59

They did the same thing to your body. Every part of your body became a billion dollar startup, essentially, from one DTC

They did the same thing to your body. Every part of your body became a billion dollar startup, essentially, from one DTC

37:05

wellness company

wellness company

37:07

and, or or multiple in some in some areas. So from skin care All of their logos look exactly the

and, or or multiple in some in some areas. So from skin care All of their logos look exactly the

37:12

same.

same.

37:14

Lower case font, pastel colors.

Lower case font, pastel colors.

37:18

Hims. I think it's Oh, by the way, what what one other little observation?

Hims. I think it's Oh, by the way, what what one other little observation?

37:23

A lot of these DDC

A lot of these DDC

37:25

successes

successes

37:26

came from a certain type of founder, not all of them, but many. From MBA found like, founders who went to, like, business schools, which is funny because, like, in the startup world, business schools, kinda like our easy punching bag, because you're, like, punching up at the institution. It's easy to make fun of them. Like, bro, you don't learn business with school. You learn business by doing business, and that's how I feel, to be honest with you. So I'm, like, that's true. But there is something interesting that a lot of DDC companies, Blue Apron, Birch Box, stitch fix, warby Parker,

came from a certain type of founder, not all of them, but many. From MBA found like, founders who went to, like, business schools, which is funny because, like, in the startup world, business schools, kinda like our easy punching bag, because you're, like, punching up at the institution. It's easy to make fun of them. Like, bro, you don't learn business with school. You learn business by doing business, and that's how I feel, to be honest with you. So I'm, like, that's true. But there is something interesting that a lot of DDC companies, Blue Apron, Birch Box, stitch fix, warby Parker,

37:54

rent the runway,

rent the runway,

37:56

Hello, hello, Fresh.

Hello, hello, Fresh.

37:58

And then this, you know, this guy who did,

And then this, you know, this guy who did,

38:01

him, so he went to Warton as well. So it's like, A lot of these big I think there was something about the type of person who would do well in a business school and the types of things you learn in business school where you, like, do this market landscape you, like, figure out the opportunities. You're like, okay. Good. I just need to be, like, good at marketing and then good at operations in order to, like, like, put cash in here and get thing out It's not like very software based. It's not in a you don't have to be the the innovator who's, like, you know, the one inventor of something.

him, so he went to Warton as well. So it's like, A lot of these big I think there was something about the type of person who would do well in a business school and the types of things you learn in business school where you, like, do this market landscape you, like, figure out the opportunities. You're like, okay. Good. I just need to be, like, good at marketing and then good at operations in order to, like, like, put cash in here and get thing out It's not like very software based. It's not in a you don't have to be the the innovator who's, like, you know, the one inventor of something.

38:29

I think it landed itself to that type of entrepreneur, which I thought I found pretty interesting too.

I think it landed itself to that type of entrepreneur, which I thought I found pretty interesting too.

38:34

Well, here's what our listeners need to do. They need to either Probably in the YouTube comments. They need us to let us know. I'll actually want them to do it. Who won the duel? I actually want them to do it. I wanna know if they think him is a good business, but Also, who won the duel. So you'll have to vote by saying our names.

Well, here's what our listeners need to do. They need to either Probably in the YouTube comments. They need us to let us know. I'll actually want them to do it. Who won the duel? I actually want them to do it. I wanna know if they think him is a good business, but Also, who won the duel. So you'll have to vote by saying our names.

38:52

We'll include a a Spotify poll as well. So you can just vote in the app. And we'll do a Spotify poll as well. Some guy in the YouTube channel said,

We'll include a a Spotify poll as well. So you can just vote in the app. And we'll do a Spotify poll as well. Some guy in the YouTube channel said,

39:02

Who's this blonde host? And why is he so annoying? So just over the record, the blonde annoying guy.

Who's this blonde host? And why is he so annoying? So just over the record, the blonde annoying guy.

39:09

That's what someone said in the comment. The the blonde annoying guy, that was Sam. I went first, and Sean is the Brown less annoying guy. He went second for him. So let us know. Who's the winner here of the of this duel?

That's what someone said in the comment. The the blonde annoying guy, that was Sam. I went first, and Sean is the Brown less annoying guy. He went second for him. So let us know. Who's the winner here of the of this duel?

39:21

I'm very eager to hear. What people are gonna say. I know which one I would rather own, but I think they're both quite interesting.

I'm very eager to hear. What people are gonna say. I know which one I would rather own, but I think they're both quite interesting.

39:28

For sure. For sure.

For sure. For sure.

39:31

You saw this post by Mark Zuckerberg that he did the Murf

You saw this post by Mark Zuckerberg that he did the Murf

39:36

I tweeted out the picture of it, and it got, like, five million views. It it kinda took off. And

I tweeted out the picture of it, and it got, like, five million views. It it kinda took off. And

39:42

I don't know. So do do you know what the MERS?

I don't know. So do do you know what the MERS?

39:45

I had never heard of the murph until I saw this. And then I was like, I must do the murph. It's named after Lieutenant Murphy. I believe

I had never heard of the murph until I saw this. And then I was like, I must do the murph. It's named after Lieutenant Murphy. I believe

39:53

context clues leads me to believe that he died,

context clues leads me to believe that he died,

39:57

in the military. And, his favorite workout,

in the military. And, his favorite workout,

40:00

I believe it's one mile run.

I believe it's one mile run.

40:03

Three hundred squats, a hundred push ups, and a hundred pull ups, and then a one mile run,

Three hundred squats, a hundred push ups, and a hundred pull ups, and then a one mile run,

40:09

all while wearing a twenty pound weighted vest. That the workout?

all while wearing a twenty pound weighted vest. That the workout?

40:14

That's exactly right. Run a mile, hundred pull ups, two hundred push ups, three hundred squats, run another mile while we while wearing a twenty pound vest.

That's exactly right. Run a mile, hundred pull ups, two hundred push ups, three hundred squats, run another mile while we while wearing a twenty pound vest.

40:22

And,

And,

40:23

Zuck basically

Zuck basically

40:25

takes a, like, bro gym shot. I gotta use the blackberry for this. He's got the phone down here.

takes a, like, bro gym shot. I gotta use the blackberry for this. He's got the phone down here.

40:33

Not smiling. Got the mouth open. Just

Not smiling. Got the mouth open. Just

40:35

and just snaps it with himself drenched in sweat, and he's like, just did the murph.

and just snaps it with himself drenched in sweat, and he's like, just did the murph.

40:42

But he's like, me and my daughters did. He's got a picture of his daughters doing, like, push ups.

But he's like, me and my daughters did. He's got a picture of his daughters doing, like, push ups.

40:46

And he goes, like, this year, I got it done in thirty nine minutes and fifty eight seconds.

And he goes, like, this year, I got it done in thirty nine minutes and fifty eight seconds.

40:51

And I was like, I read that, and I was like, mhmm, that sounds like,

And I was like, I read that, and I was like, mhmm, that sounds like,

40:55

Really fast. If he had just said, I did a hundred pull ups today, I would have been, like, man. What a day?

Really fast. If he had just said, I did a hundred pull ups today, I would have been, like, man. What a day?

41:00

Fantastic. For for getting ready all the rest. I was already impressed by a hundred pull ups. To say you got that done in

Fantastic. For for getting ready all the rest. I was already impressed by a hundred pull ups. To say you got that done in

41:06

waited pull ups?

waited pull ups?

41:08

To say you got that done in thirty nine minutes, I was like, that sounds ridiculously

To say you got that done in thirty nine minutes, I was like, that sounds ridiculously

41:12

fast And sure enough, all the comments were like, that's an insane time for the MIRF. Do have you ever done this workout? I haven't, but the world record holder of the MIRF is this dining hunter McIntyre who's dm'd me on Twitter and Instagram and I've talked to because I I like him a lot where I follow him and I feel like I like him. Is that what fit guys do? They just DM each other? Yeah. Yeah. Yeah. Yeah. It's like a club. You know, like, once you can see the sixth app, you start following each other. Yeah. I'm one of us.

fast And sure enough, all the comments were like, that's an insane time for the MIRF. Do have you ever done this workout? I haven't, but the world record holder of the MIRF is this dining hunter McIntyre who's dm'd me on Twitter and Instagram and I've talked to because I I like him a lot where I follow him and I feel like I like him. Is that what fit guys do? They just DM each other? Yeah. Yeah. Yeah. Yeah. It's like a club. You know, like, once you can see the sixth app, you start following each other. Yeah. I'm one of us.

41:40

Good to see you. And he'd the end me. He listens to the pod. He's the world record holder, and I think his world record is, like, thirty four minutes, and Zuck's time was thirty nine minutes. Which means he would have gotten, like, tenth or fifteenth place at there's, like, a murph games or something like that. I mean, I had so many thoughts rushed through my head when I saw it. First, I saw thirty nine minutes, and I thought,

Good to see you. And he'd the end me. He listens to the pod. He's the world record holder, and I think his world record is, like, thirty four minutes, and Zuck's time was thirty nine minutes. Which means he would have gotten, like, tenth or fifteenth place at there's, like, a murph games or something like that. I mean, I had so many thoughts rushed through my head when I saw it. First, I saw thirty nine minutes, and I thought,

42:01

I've taken shifts longer than that. Like, that's a that's a crazy fast time. Then I thought, I don't think I could even do a Murf in an infinite amount of time. I don't think in my life, I have done a total.

I've taken shifts longer than that. Like, that's a that's a crazy fast time. Then I thought, I don't think I could even do a Murf in an infinite amount of time. I don't think in my life, I have done a total.

42:13

Of two miles running one hundred pull ups, two hundred push ups at three hundred air squats, like, with a twenty pound vest. I have just never done it. Period. So my time is currently thirty five years.

Of two miles running one hundred pull ups, two hundred push ups at three hundred air squats, like, with a twenty pound vest. I have just never done it. Period. So my time is currently thirty five years.

42:24

Then I thought,

Then I thought,

42:26

this month, this guy has

this month, this guy has

42:29

he decided, yo, you know what? I'll just become one of the richest people in the world,

he decided, yo, you know what? I'll just become one of the richest people in the world,

42:34

one of the most powerful people in the world, and the one of the fittest guys in the world. Like, he's basically wholesome.

one of the most powerful people in the world, and the one of the fittest guys in the world. Like, he's basically wholesome.

42:39

Top point one percent wealth,

Top point one percent wealth,

42:43

top point one percent,

top point one percent,

42:44

you know, intelligence, top point one percent power. And now he's top point point Tom one point one percent, Chad, also.

you know, intelligence, top point one percent power. And now he's top point point Tom one point one percent, Chad, also.

42:51

I am blogging all all before the age of forty.

I am blogging all all before the age of forty.

42:55

Yeah. Exactly. And he's got two kids or something like that. I'm like

Yeah. Exactly. And he's got two kids or something like that. I'm like

42:59

the I mean,

the I mean,

43:00

Damon Goggins should go to sleep listening to Mark Zuckerberg videos for motivation.

Damon Goggins should go to sleep listening to Mark Zuckerberg videos for motivation.

43:06

This guy is incredible.

This guy is incredible.

43:08

I went I bought more stock, and I bought a plain gray,

I went I bought more stock, and I bought a plain gray,

43:11

you know, cookie cutter t shirt in his honor. I was like, this is gonna retire this to the rafters of my office. I'm gonna put a I'm gonna hang a gracer

you know, cookie cutter t shirt in his honor. I was like, this is gonna retire this to the rafters of my office. I'm gonna put a I'm gonna hang a gracer

43:19

just to honor this man. He gets so much shit, and man, he's really turned to his, like,

just to honor this man. He gets so much shit, and man, he's really turned to his, like,

43:24

public persona around. Like, do you remember he was

public persona around. Like, do you remember he was

43:28

he was the biggest dork, like,

he was the biggest dork, like,

43:31

not just like, oh, when he was young. Like,

not just like, oh, when he was young. Like,

43:34

Recently, he was the biggest dork is that he tried to do something cool. Like, he would do he when he did that, like, hydro foiling thing, and he paint this fight his face white like a geisha and, like, it's like, man, it's like,

Recently, he was the biggest dork is that he tried to do something cool. Like, he would do he when he did that, like, hydro foiling thing, and he paint this fight his face white like a geisha and, like, it's like, man, it's like,

43:46

and I got American fire. It was just like, it was like, oh, man. Like, you know what?

and I got American fire. It was just like, it was like, oh, man. Like, you know what?

43:51

Keep all your money. I don't wanna be you. And now he's like,

Keep all your money. I don't wanna be you. And now he's like,

43:55

you know, just got off work, did a quick jujitsu tournament, came back, you know, fucking deleted Snapchat off the earth. I'm like, wow. This guy is just this guy's making power poops all day. He's incredible. He's he's a very inspirational dude. He's done it scandal free. So Zuck is only thirty seven now, you know, probably fifth or sixth. Is he only thirty seven?

you know, just got off work, did a quick jujitsu tournament, came back, you know, fucking deleted Snapchat off the earth. I'm like, wow. This guy is just this guy's making power poops all day. He's incredible. He's he's a very inspirational dude. He's done it scandal free. So Zuck is only thirty seven now, you know, probably fifth or sixth. Is he only thirty seven?

44:15

Something like that. I mean, he's still in his thirties.

Something like that. I mean, he's still in his thirties.

44:18

How old is he?

How old is he?

44:21

Thirty nine. Thirty nine. It's only so so he so, basically,

Thirty nine. Thirty nine. It's only so so he so, basically,

44:25

He,

He,

44:26

been married to the same woman, been with her since college, has two kids, seems like his family life on the on the on paper seems awesome.

been married to the same woman, been with her since college, has two kids, seems like his family life on the on the on paper seems awesome.

44:34

There was a time where, like, the most scandalous thing that he did was he had a video where he talked about smoking meats. And Every year, he sets you remember that? Because every year he sets goals. No. No. That's not the most scandalous thing. That was just, like, hilarious that he was a robot trying to be, like, Hello, humans. I am doing a barbecue with I have flesh on a grill with fire, and it was like, fair. This is the robot. The most scandals thing he did was when he was in college, and

There was a time where, like, the most scandalous thing that he did was he had a video where he talked about smoking meats. And Every year, he sets you remember that? Because every year he sets goals. No. No. That's not the most scandalous thing. That was just, like, hilarious that he was a robot trying to be, like, Hello, humans. I am doing a barbecue with I have flesh on a grill with fire, and it was like, fair. This is the robot. The most scandals thing he did was when he was in college, and

45:00

the the his aim messages got leaked. That was, like, you know, a real wonderful day at my household as I, like, was like, hey, cancel Netflix. I have my entertainment for the week. I'm reading all of Mark Zuckerberg's

the the his aim messages got leaked. That was, like, you know, a real wonderful day at my household as I, like, was like, hey, cancel Netflix. I have my entertainment for the week. I'm reading all of Mark Zuckerberg's

45:11

a messages for the next week. That And it wasn't even that big of a deal. What he said was pretty on par with an eighteen year old, nineteen year old person, like, if Well,

a messages for the next week. That And it wasn't even that big of a deal. What he said was pretty on par with an eighteen year old, nineteen year old person, like, if Well,

45:20

maybe it was a lot one part was a little bit, like,

maybe it was a lot one part was a little bit, like,

45:23

is this what we want? Like, this guy's this is the guy running Facebook where he was, like, He's like, yeah. He's like, he's like, yeah, just tell me if you want anyone's, like, you know, name, you know, date of birth, you know, address, whatever. He he's, like, these dumb fucks just is trust me. They just put everything in the in the system. And so That sounds like something That's a eight year old kid who invented this stuff with saying.

is this what we want? Like, this guy's this is the guy running Facebook where he was, like, He's like, yeah. He's like, he's like, yeah, just tell me if you want anyone's, like, you know, name, you know, date of birth, you know, address, whatever. He he's, like, these dumb fucks just is trust me. They just put everything in the in the system. And so That sounds like something That's a eight year old kid who invented this stuff with saying.

45:45

Yeah. I would say

Yeah. I would say

45:46

That was the last time I was relatable with Mark Zuckerberg.

That was the last time I was relatable with Mark Zuckerberg.

45:50

Ever since then, he's created a gap. And he's he's outpaced me from there. Every year he sets these goals, one year it was he only wants to eat food that he killed or grew, and I think he did it. And then another year was like, I'm gonna learn Mandarin because I want Facebook to come to China, and I think his wife is Chinese.

Ever since then, he's created a gap. And he's he's outpaced me from there. Every year he sets these goals, one year it was he only wants to eat food that he killed or grew, and I think he did it. And then another year was like, I'm gonna learn Mandarin because I want Facebook to come to China, and I think his wife is Chinese.

46:08

And he was like, I'm gonna learn

And he was like, I'm gonna learn

46:11

And then he goes and he gives a talk. I think he does it gives a talk to a Chinese university. He he gave an interview. They go he they fly him out there. They're like, thank you so much, Mark Zuckerberg. Coming, we are so happy to have you. And he's, like, he's, like, you know, well, Mitchell, and he just starts speaking Chinese, and they're, like, hurt blown away.

And then he goes and he gives a talk. I think he does it gives a talk to a Chinese university. He he gave an interview. They go he they fly him out there. They're like, thank you so much, Mark Zuckerberg. Coming, we are so happy to have you. And he's, like, he's, like, you know, well, Mitchell, and he just starts speaking Chinese, and they're, like, hurt blown away.

46:27

It's it's like really great man where he's basically fluent.

It's it's like really great man where he's basically fluent.

46:31

And so the guy kills it, man. He does great.

And so the guy kills it, man. He does great.

46:35

And, like, when he did the e so he got into e foiling, which is basically surfboarding without a wave, and he is doing it with an American flag, and he has too much sunscreen on his face. That's my guy, a guy whose biggest, like, flaw is that he's goofy.

And, like, when he did the e so he got into e foiling, which is basically surfboarding without a wave, and he is doing it with an American flag, and he has too much sunscreen on his face. That's my guy, a guy whose biggest, like, flaw is that he's goofy.

46:49

It's not the kind of my guy. And then now that I

It's not the kind of my guy. And then now that I

46:53

You're zagging the other way. You're saying,

You're zagging the other way. You're saying,

46:56

Zuck, bad move, unrelated.

Zuck, bad move, unrelated.

46:58

Too too good. No vulnerability, no no relatability now. He's no longer

Too too good. No vulnerability, no no relatability now. He's no longer

47:03

girl next door hot. Now he's just supermodel hot. Sucks the best man. He just he you know, our friend Nikita Beer,

girl next door hot. Now he's just supermodel hot. Sucks the best man. He just he you know, our friend Nikita Beer,

47:10

has this joke where he says something, like, I would never, or I forget why he says this, but he says he never, ever, ever bet against suck how he's just a complete killer, and he is wrong sometimes, but not in the grand scheme. And this is for the proof. Well, the funny thing is people will

has this joke where he says something, like, I would never, or I forget why he says this, but he says he never, ever, ever bet against suck how he's just a complete killer, and he is wrong sometimes, but not in the grand scheme. And this is for the proof. Well, the funny thing is people will

47:25

hate the segment because I think it's popular to really hate Mark Zuckerberg,

hate the segment because I think it's popular to really hate Mark Zuckerberg,

47:31

because they hate Facebook, I think, because they're, like, my data like, the Russians hacked the election. I'm not even sure. I'm not even sure what the what the exact reason is for hating Zuckerberg at this point.

because they hate Facebook, I think, because they're, like, my data like, the Russians hacked the election. I'm not even sure. I'm not even sure what the what the exact reason is for hating Zuckerberg at this point.

47:42

I just gotta say, like, this is

I just gotta say, like, this is

47:45

I mean, he

I mean, he

47:47

he he is inspiring in that he is excellent. And if you appreciate excellence, that is kind of inspiring. It's kinda like people who hate LeBron. It's like, okay. I get it. You don't have to like the guy, but,

he he is inspiring in that he is excellent. And if you appreciate excellence, that is kind of inspiring. It's kinda like people who hate LeBron. It's like, okay. I get it. You don't have to like the guy, but,

47:57

I mean, you gotta respect.

I mean, you gotta respect.

47:59

Yeah. It puts a respect on this guy's name. Her funny story didn't run either, by the way. But did you complain sometimes?

Yeah. It puts a respect on this guy's name. Her funny story didn't run either, by the way. But did you complain sometimes?

48:06

Yeah. Exactly. Yeah. But, yeah, he switched teams when he was a free agent.

Yeah. Exactly. Yeah. But, yeah, he switched teams when he was a free agent.

48:10

My real estate agent told me the story that she was driving. She's Mark Zuckerberg's house in the in the Mission,

My real estate agent told me the story that she was driving. She's Mark Zuckerberg's house in the in the Mission,

48:16

kinda like near Dolores Park type of area. And I was like, he lives here. And I was like, that's not like I thought he lived in private gated community.

kinda like near Dolores Park type of area. And I was like, he lives here. And I was like, that's not like I thought he lived in private gated community.

48:23

And she was like, well, I mean, he has, like, many houses, but this is one this is one, and this is, like, his main one for a while.

And she was like, well, I mean, he has, like, many houses, but this is one this is one, and this is, like, his main one for a while.

48:29

And she's like, and he made it private. I was like, what do you mean? I don't see any fence. And she's like, no. He bought the houses next door. Like, he just bought all the houses in the area so that, like,

And she's like, and he made it private. I was like, what do you mean? I don't see any fence. And she's like, no. He bought the houses next door. Like, he just bought all the houses in the area so that, like,

48:39

you know, whatever. And so he he'd knocked on someone's door

you know, whatever. And so he he'd knocked on someone's door

48:43

himself.

himself.

48:44

So somebody opened the door, and it was Mark Zuckerberg outside, and

So somebody opened the door, and it was Mark Zuckerberg outside, and

48:48

He's like, hey, you know, I love this house, and I

He's like, hey, you know, I love this house, and I

48:51

would you sell it to me? And they're like, no. I mean, it's not sale. We we love this house. We're so close to the park. You know, my commute's only seven miles. He's like, I'll give you ten million dollars. And they're like, okay. Here's the keys.

would you sell it to me? And they're like, no. I mean, it's not sale. We we love this house. We're so close to the park. You know, my commute's only seven miles. He's like, I'll give you ten million dollars. And they're like, okay. Here's the keys.

49:02

Basically, which bought the house for ten million. It was probably a two million dollar house, and then the house next, like, the house is nearby him, two and a half, three million dollars. And he paid ten and just shot the house right away. Dude, that person who sold their house to him would be the best dinner guest. Imagine that story.

Basically, which bought the house for ten million. It was probably a two million dollar house, and then the house next, like, the house is nearby him, two and a half, three million dollars. And he paid ten and just shot the house right away. Dude, that person who sold their house to him would be the best dinner guest. Imagine that story.

49:18

Just imagine that. We'd like to have you on air. If that's you, We would like to have you come tell that story because,

Just imagine that. We'd like to have you on air. If that's you, We would like to have you come tell that story because,

49:24

obviously, I'm reenacting what I was told by real estate agent. I don't know if that's a that's true or that's bullshit.

obviously, I'm reenacting what I was told by real estate agent. I don't know if that's a that's true or that's bullshit.

49:30

So, yeah, Zach. Amazing. Let's, wrap wrap up with this last thing, this Nike thing.

So, yeah, Zach. Amazing. Let's, wrap wrap up with this last thing, this Nike thing.

49:35

Did you watch this movie?

Did you watch this movie?

49:37

Air.

Air.

49:38

Yeah. I did. I thought it was awesome. It it was pretty sweet. Right? Like, not the best movie, but, like,

Yeah. I did. I thought it was awesome. It it was pretty sweet. Right? Like, not the best movie, but, like,

49:44

just a solid

just a solid

49:45

base hit on a on a Thursday night, a Friday night. You know, you just need something that's I don't wanna sit here and browse Netflix for the perfect thing. Alright. I'm just gonna go on. I think it's on Amazon, and I'm just gonna go watch Air. And, like, just just watch the story of

base hit on a on a Thursday night, a Friday night. You know, you just need something that's I don't wanna sit here and browse Netflix for the perfect thing. Alright. I'm just gonna go on. I think it's on Amazon, and I'm just gonna go watch Air. And, like, just just watch the story of

49:59

how Nike signed Michael Jordan.

how Nike signed Michael Jordan.

50:01

They made Phil Knight look like a doofus.

They made Phil Knight look like a doofus.

50:04

Yeah. Why did they do that? I didn't understand that. They,

Yeah. Why did they do that? I didn't understand that. They,

50:07

well, he does, like, appearance wise look like a doofus, but they also made him like a doofus.

well, he does, like, appearance wise look like a doofus, but they also made him like a doofus.

50:12

Yeah. Which I don't think he was like that. When I read shoe dog, I I didn't get that idea. He he he he's more, I think, they made him look like when he wrote his own memoir. Made himself sound cool? Well, I've read a lot. I've read a lot about him. He he they they just kinda made him look like a, like, a, like, a Ditzy person. Like an idiot. Yeah. He he's not an idiot.

Yeah. Which I don't think he was like that. When I read shoe dog, I I didn't get that idea. He he he he's more, I think, they made him look like when he wrote his own memoir. Made himself sound cool? Well, I've read a lot. I've read a lot about him. He he they they just kinda made him look like a, like, a, like, a Ditzy person. Like an idiot. Yeah. He he's not an idiot.

50:31

But the guy they feature so a couple things. So so first, anything stand out from the movie air, but then I have I wanna go deep on this guy, Cindy Vacaro, because I think he's actually more interesting. Who without the main character, I don't even remember his name. That's the that's the main character. That's Matt Damon. Matt Damon in the movie. But,

But the guy they feature so a couple things. So so first, anything stand out from the movie air, but then I have I wanna go deep on this guy, Cindy Vacaro, because I think he's actually more interesting. Who without the main character, I don't even remember his name. That's the that's the main character. That's Matt Damon. Matt Damon in the movie. But,

50:47

Yeah. In in in Nike, in in the air movie, I thought one one interesting thing I didn't know was they're they're talking about just do it, which is the

Yeah. In in in Nike, in in the air movie, I thought one one interesting thing I didn't know was they're they're talking about just do it, which is the

50:55

Just do it. It's the slogan that, you know, everybody knows. It's the Nike kinda, like, iconic slogan.

Just do it. It's the slogan that, you know, everybody knows. It's the Nike kinda, like, iconic slogan.

51:00

And they were talking about, like, at the time, even people internally were, just do it. Like, we could they got that from the ad agency, Widen Kennedy. And they're like, I don't know. What what does that what does that mean? Do you like it? I was like, I don't know. It's okay. I guess. Were they weren't like, yes. This is this is gonna be this, like, marketing masterpiece.

And they were talking about, like, at the time, even people internally were, just do it. Like, we could they got that from the ad agency, Widen Kennedy. And they're like, I don't know. What what does that what does that mean? Do you like it? I was like, I don't know. It's okay. I guess. Were they weren't like, yes. This is this is gonna be this, like, marketing masterpiece.

51:15

And they go, what what does that even mean? And they go, dude, it's from an inmate on death Rowe, who was about to be a sass about to be executed.

And they go, what what does that even mean? And they go, dude, it's from an inmate on death Rowe, who was about to be a sass about to be executed.

51:23

And they were, like, any last words, and he goes, just do it.

And they were, like, any last words, and he goes, just do it.

51:26

And so that became the ninety slow here, which is,

And so that became the ninety slow here, which is,

51:30

honestly, kinda genius.

honestly, kinda genius.

51:32

So

So

51:34

I wanna talk about this guy, Sonny vaccaro, because he's kind of a gangster that I've seen for many, many years in the basketball scene.

I wanna talk about this guy, Sonny vaccaro, because he's kind of a gangster that I've seen for many, many years in the basketball scene.

51:40

And the movie was about him. And he this guy's pretty fascinating. So

And the movie was about him. And he this guy's pretty fascinating. So

51:44

what, in the movie, he's famous because he's working at Nike. At the time Nike is

what, in the movie, he's famous because he's working at Nike. At the time Nike is

51:50

The last player, it's a it's just a running shoe company, and they're the smaller shoe company.

The last player, it's a it's just a running shoe company, and they're the smaller shoe company.

51:55

Adidas is this global brand that's crushing it. They own most of the sneaker market. I believe it's pronounced

Adidas is this global brand that's crushing it. They own most of the sneaker market. I believe it's pronounced

52:02

Adi Das. Yeah. Adi Das.

Adi Das. Yeah. Adi Das.

52:05

Which has its own interesting story. Then rebock is like number two and Nike's like a distant three, but they were doing like twenty seven million a year in sales through their running shoe. So good, but not like nowhere near the kind of top tier,

Which has its own interesting story. Then rebock is like number two and Nike's like a distant three, but they were doing like twenty seven million a year in sales through their running shoe. So good, but not like nowhere near the kind of top tier,

52:18

a a few companies.

a a few companies.

52:19

And so Sonny meets Phil Knight, and he's like, hey, I got an idea for a basketball shoe. Wanna create, like, a basketball division. Like, you guys are all running shoes, which create basketball shoes. And he's like, okay. Like, come on in. You got this little basketball department. Like, go ahead. Try to make it work.

And so Sonny meets Phil Knight, and he's like, hey, I got an idea for a basketball shoe. Wanna create, like, a basketball division. Like, you guys are all running shoes, which create basketball shoes. And he's like, okay. Like, come on in. You got this little basketball department. Like, go ahead. Try to make it work.

52:35

And the movie is all about, like, one breakthrough thing he did, which was

And the movie is all about, like, one breakthrough thing he did, which was

52:40

they had a tiny budget and in the nineteen eighty four draft,

they had a tiny budget and in the nineteen eighty four draft,

52:43

they decided

they decided

52:45

to sponsor Michael Jordan. And Michael Jordan was not interested in Nike. He was gonna go with, I think Adidas or somebody like that. And,

to sponsor Michael Jordan. And Michael Jordan was not interested in Nike. He was gonna go with, I think Adidas or somebody like that. And,

52:53

He was known as a as a hot prospect. He's like the number three pick, and they were like, well, we still want and and Sonny was convinced. We need Michael Jordan. And so the movies about them trying to go get Michael Jordan onboarding. And what ended up what they what the pitch was was basically they put their entire budget on one guy instead of spreading across multiple players,

He was known as a as a hot prospect. He's like the number three pick, and they were like, well, we still want and and Sonny was convinced. We need Michael Jordan. And so the movies about them trying to go get Michael Jordan onboarding. And what ended up what they what the pitch was was basically they put their entire budget on one guy instead of spreading across multiple players,

53:11

He relentlessly pursued Jordan and, like, met his mom and, like, just, like, drove out there to North Carolina to to meet them and try to build a relationship. And then they even show Jordan's face in the movie, which actually was pretty cool. It was basically the whole relationship was, how do I impress his mom? Because I know his mom will have my back. She's making the decisions. And so they were like, well,

He relentlessly pursued Jordan and, like, met his mom and, like, just, like, drove out there to North Carolina to to meet them and try to build a relationship. And then they even show Jordan's face in the movie, which actually was pretty cool. It was basically the whole relationship was, how do I impress his mom? Because I know his mom will have my back. She's making the decisions. And so they were like, well,

53:30

we're gonna pitch him on his own signature shoe from day one, and we're gonna name it after him.

we're gonna pitch him on his own signature shoe from day one, and we're gonna name it after him.

53:36

So it'll be the air Jordan. It'll be a whole product line named after him, and he ended up negotiating a royalty on every pair of Jordan sold. And that's how Michael Jordan became a billionaire, not to basketball three issues. So that's the the movie part. Okay. Cool. This guy Sunny actually did a bunch of other interesting things that I thought were pretty cool. So as a marketer, I just respect this guy's hustle. So here's some of the things he did to make Nike win.

So it'll be the air Jordan. It'll be a whole product line named after him, and he ended up negotiating a royalty on every pair of Jordan sold. And that's how Michael Jordan became a billionaire, not to basketball three issues. So that's the the movie part. Okay. Cool. This guy Sunny actually did a bunch of other interesting things that I thought were pretty cool. So as a marketer, I just respect this guy's hustle. So here's some of the things he did to make Nike win.

53:58

He created so he was like, alright. We gotta create, like, Like a kid's strategy? It's like, how do we get him while they're young? And so he created a high school all American game?

He created so he was like, alright. We gotta create, like, Like a kid's strategy? It's like, how do we get him while they're young? And so he created a high school all American game?

54:09

So he was, like, he called it the, the Dapper Dan round ball classic. And he goes throughout the country. He's, like, I'm inviting you to participate. You're gonna compete against, you know, the the twelve best players,

So he was, like, he called it the, the Dapper Dan round ball classic. And he goes throughout the country. He's, like, I'm inviting you to participate. You're gonna compete against, you know, the the twelve best players,

54:21

whatever, twenty best players in the country, you're invited to come do this thing in in in Pittsburgh or Philadelphia or some shit like that. And it was like,

whatever, twenty best players in the country, you're invited to come do this thing in in in Pittsburgh or Philadelphia or some shit like that. And it was like,

54:29

and so he flies them out there, and he puts this thing together. Now he's got the players. So then he goes and tells all the college coaches, hey, if you're scouting, You need to come to this round ball class. You can see all the best high school players at once. And so then college coaches start coming. So now players are like, Oh, if I wanna get seen by college coaches, I gotta get to the high school American game. So he just, like, created through brute force, like, a conference essentially

and so he flies them out there, and he puts this thing together. Now he's got the players. So then he goes and tells all the college coaches, hey, if you're scouting, You need to come to this round ball class. You can see all the best high school players at once. And so then college coaches start coming. So now players are like, Oh, if I wanna get seen by college coaches, I gotta get to the high school American game. So he just, like, created through brute force, like, a conference essentially

54:52

that would, bring together the, kind of, the core supply and demand, and that he could find at that age the best young players. And so he that's how he found Kobe Bryant, That's how he found LeBron James. They were part of his high school all American things in his camp. So the second legacies he created a summer camp for only the best players called ABCD. And he brant this is when he was with Adidas. So this guy worked for Nike. Did he work for Adidas?

that would, bring together the, kind of, the core supply and demand, and that he could find at that age the best young players. And so he that's how he found Kobe Bryant, That's how he found LeBron James. They were part of his high school all American things in his camp. So the second legacies he created a summer camp for only the best players called ABCD. And he brant this is when he was with Adidas. So this guy worked for Nike. Did he work for Adidas?

55:15

Then he worked for rebock. So he just This guy was just a hired assassin that went from company to company and would just try to get them to win in their market using whatever advantages they had. And so when Nike needed something, he was like, alright, you need to get them all year young. We're gonna do this camp, but also what we're gonna do is we need to get college players wearing our stuff. They all wear adidas. And, because it's the most popular brand, so that's just what they choose by default, or they choose converse.

Then he worked for rebock. So he just This guy was just a hired assassin that went from company to company and would just try to get them to win in their market using whatever advantages they had. And so when Nike needed something, he was like, alright, you need to get them all year young. We're gonna do this camp, but also what we're gonna do is we need to get college players wearing our stuff. They all wear adidas. And, because it's the most popular brand, so that's just what they choose by default, or they choose converse.

55:38

And so he's like, you know, why don't we,

And so he's like, you know, why don't we,

55:40

you can't pay college athletes.

you can't pay college athletes.

55:43

But nobody's saying anything about coaches. And so he just started he would go to the coaches and he'd be like, hey. I'm gonna give you ten grand. And here's twenty six pairs of shoes.

But nobody's saying anything about coaches. And so he just started he would go to the coaches and he'd be like, hey. I'm gonna give you ten grand. And here's twenty six pairs of shoes.

55:52

Give them out. Oh, they happen to be the sizes of, like, most of your guys. They don't have to wear them. You get the ten grand either way, but we sure do hope you would, you know, you would go ahead and,

Give them out. Oh, they happen to be the sizes of, like, most of your guys. They don't have to wear them. You get the ten grand either way, but we sure do hope you would, you know, you would go ahead and,

56:01

and, you know, encourage them to wear these shoes. And so he went to Jim Bayhive, and he went to, like, you know, all the top college coaches, and he basically bribed them. And it was, like, in this gray area where it was allowed. And in one year, he just traveled, like, he would just fly, city to city. He would go to the campus would make the coaching offer. And at the time, they were buying this equipment for their program. They're like, our kids need equipment. So we gotta buy this the stuff so we turned to cost into revenue for them. And gave them free stuff, and sure enough, all of them started wearing Nike's for free. So all of a sudden now Nike's being worn by all the best college players, and it's on TV. And in one year, he just did a land grab across the country before the other companies could could react. He got all of them. And I thought this was just like a genius,

and, you know, encourage them to wear these shoes. And so he went to Jim Bayhive, and he went to, like, you know, all the top college coaches, and he basically bribed them. And it was, like, in this gray area where it was allowed. And in one year, he just traveled, like, he would just fly, city to city. He would go to the campus would make the coaching offer. And at the time, they were buying this equipment for their program. They're like, our kids need equipment. So we gotta buy this the stuff so we turned to cost into revenue for them. And gave them free stuff, and sure enough, all of them started wearing Nike's for free. So all of a sudden now Nike's being worn by all the best college players, and it's on TV. And in one year, he just did a land grab across the country before the other companies could could react. He got all of them. And I thought this was just like a genius,

56:43

Gita's strategy. He started doing a search on something. How far you can go with brute force?

Gita's strategy. He started doing a search on something. How far you can go with brute force?

56:49

This was a sledgehammer.

This was a sledgehammer.

56:51

This was a sledgehammer, and you can get pretty far with a sledge hammer.

This was a sledgehammer, and you can get pretty far with a sledge hammer.

56:55

Then then he did another thing he sued the NCAA.

Then then he did another thing he sued the NCAA.

56:59

So he went to this guy, Ed O'Bannon, and he was like, hey, we should sue the NCA. They're using your name, your face, you're like this, to market the tournament, and all this stuff, and you're getting nothing from it. And now college players can get paid through this NIL rule, this name, and like this thing. And it's because he won the case with that, lawsuit

So he went to this guy, Ed O'Bannon, and he was like, hey, we should sue the NCA. They're using your name, your face, you're like this, to market the tournament, and all this stuff, and you're getting nothing from it. And now college players can get paid through this NIL rule, this name, and like this thing. And it's because he won the case with that, lawsuit

57:18

against the NCAA.

against the NCAA.

57:20

That was, like, you know, it happened. The lawsuit happened the last nine or five years or so, then the the rule came into effect, like, a year ago or something. And so,

That was, like, you know, it happened. The lawsuit happened the last nine or five years or so, then the the rule came into effect, like, a year ago or something. And so,

57:28

So I thought that was awesome.

So I thought that was awesome.

57:30

There was some great quotes about him. Some guy goes,

There was some great quotes about him. Some guy goes,

57:35

when Sunny dies, he's gonna sneak his way into heaven.

when Sunny dies, he's gonna sneak his way into heaven.

57:38

And, and when he gets through, the first thing he's gonna do is he gonna look for a six nine kid to make a deal with. Like, he he's like and and the other thing they said is There's only one man on Earth who could tell you who the best sixth grade basketball player in the country is, and it's Sunny Vucaro.

And, and when he gets through, the first thing he's gonna do is he gonna look for a six nine kid to make a deal with. Like, he he's like and and the other thing they said is There's only one man on Earth who could tell you who the best sixth grade basketball player in the country is, and it's Sunny Vucaro.

57:51

And I just love that this guy just, like, owned his niche and just absolutely,

And I just love that this guy just, like, owned his niche and just absolutely,

57:57

like, went balls to the wall and really built, like,

like, went balls to the wall and really built, like,

58:01

I don't know, tens of billions of value at least inside of Nike plus Adidas plus Rebach with these athletes. And he would have also gotten so he signed Jordan. He signed he he got he poached Kobe away from Adidas's. And that he would have got LeBron too when he was at Adidas, and LeBron was ready to sign. He goes, we need to offer him ten million a year for ten years, a hundred million dollar contract to this eighteen year old kid.

I don't know, tens of billions of value at least inside of Nike plus Adidas plus Rebach with these athletes. And he would have also gotten so he signed Jordan. He signed he he got he poached Kobe away from Adidas's. And that he would have got LeBron too when he was at Adidas, and LeBron was ready to sign. He goes, we need to offer him ten million a year for ten years, a hundred million dollar contract to this eighteen year old kid.

58:23

And Robon's ready to sign, and then Adidas gave him the ten million, but they changed the structure last minute. They got a little cold feet, and they're like, Well, we don't know if this kid's gonna work out. Why do we make it part of an incentive base? And so they offered him seven million guaranteed and three million a year of incentives. A LeBron turned it down ends up going like he never looked back. Like, just a huge blunder. Like, basically, this guy's whole life, he was fighting bureaucracy inside companies,

And Robon's ready to sign, and then Adidas gave him the ten million, but they changed the structure last minute. They got a little cold feet, and they're like, Well, we don't know if this kid's gonna work out. Why do we make it part of an incentive base? And so they offered him seven million guaranteed and three million a year of incentives. A LeBron turned it down ends up going like he never looked back. Like, just a huge blunder. Like, basically, this guy's whole life, he was fighting bureaucracy inside companies,

58:45

and then doing, like,

and then doing, like,

58:47

black market and gray hat shit in the, like, you know, in the streets. And every NBA player is, like, no sonny. Their parents, no sonny because this guy was just working the streets. And, like,

black market and gray hat shit in the, like, you know, in the streets. And every NBA player is, like, no sonny. Their parents, no sonny because this guy was just working the streets. And, like,

58:57

There are certain companies that have had this. Tinder kinda had this with,

There are certain companies that have had this. Tinder kinda had this with,

59:01

what's her name? The a Whitney Wolf who started Bumble?

what's her name? The a Whitney Wolf who started Bumble?

59:05

She was kinda doing this from college campus to college campus, like going into the sorority houses and the frat houses and just brute force onboarding

She was kinda doing this from college campus to college campus, like going into the sorority houses and the frat houses and just brute force onboarding

59:13

All the guys and girls in one campus, so that Tinder was useful. And then throwing parties and doing stuff like that. And, like, you need these people. These are, like, game changing people for your company. I remember when coinbase went public.

All the guys and girls in one campus, so that Tinder was useful. And then throwing parties and doing stuff like that. And, like, you need these people. These are, like, game changing people for your company. I remember when coinbase went public.

59:26

Brian Armstrong did this long thread. He did something you never see somebody do, which was company goes public. They usually just say generic stuff. He actually talked about, like, what led coinbase to be successful, and he called out one guy by name,

Brian Armstrong did this long thread. He did something you never see somebody do, which was company goes public. They usually just say generic stuff. He actually talked about, like, what led coinbase to be successful, and he called out one guy by name,

59:38

that wasn't his co founder, wasn't his main investor. It was just an employee, and this guy Dan Romero.

that wasn't his co founder, wasn't his main investor. It was just an employee, and this guy Dan Romero.

59:43

And he's like and, you know, it's basically special thanks to Dan Romero who, like,

And he's like and, you know, it's basically special thanks to Dan Romero who, like,

59:48

just kinda like brute force built our relationships with banks,

just kinda like brute force built our relationships with banks,

59:52

and he he basically got them their relationships with banking partners. And, like, I think maybe some stuff overseas

and he he basically got them their relationships with banking partners. And, like, I think maybe some stuff overseas

59:59

And it was just kinda like one of those things, like, dude, I don't know how we're gonna do this. I don't know. Dan, that's your mission. Send them on a mission to go do that. And Dan basically joined Coinbase own base as an employee ended up making, like, a hundred million dollars plus through this process.

And it was just kinda like one of those things, like, dude, I don't know how we're gonna do this. I don't know. Dan, that's your mission. Send them on a mission to go do that. And Dan basically joined Coinbase own base as an employee ended up making, like, a hundred million dollars plus through this process.

01:00:12

And I knew this guy. I met him in college. He was in my class. Didn't he, didn't you, like, used to make fun of him and call him a dweeb? I didn't make fun of him, but in my head, I did. He was We took a class called Computers.

And I knew this guy. I met him in college. He was in my class. Didn't he, didn't you, like, used to make fun of him and call him a dweeb? I didn't make fun of him, but in my head, I did. He was We took a class called Computers.

01:00:24

Again, I was going through campus looking for the easiest sounding classes. I took giving Rich of one class. I took another class from computers.

Again, I was going through campus looking for the easiest sounding classes. I took giving Rich of one class. I took another class from computers.

01:00:30

And in computers, they were talking about, like That's a good class. Person class. It's computers. And they were just talking about, like, the internet and, like, internet. I remember, like, just talking about net neutrality a ton. I was like, I don't know what these guys are talking about. Like, I couldn't give less of a shit about this. And there was one guy that every class had, like, strong opinions

And in computers, they were talking about, like That's a good class. Person class. It's computers. And they were just talking about, like, the internet and, like, internet. I remember, like, just talking about net neutrality a ton. I was like, I don't know what these guys are talking about. Like, I couldn't give less of a shit about this. And there was one guy that every class had, like, strong opinions

01:00:49

was super informed. I was like, man, who is this, like, teacher's pet? That's just like, is he trying to impress him? I was like, no. I don't even think he's trying to impress him. I think he actually is just nerdy about this stuff. He just listened motherfucker just loves the internet. This guy, like, wants to make out with the internet. I was over sitting in the back of his last, like, I was like, thank you for talking so much, Dan Ramirez, because I don't have to say a word in this class.

was super informed. I was like, man, who is this, like, teacher's pet? That's just like, is he trying to impress him? I was like, no. I don't even think he's trying to impress him. I think he actually is just nerdy about this stuff. He just listened motherfucker just loves the internet. This guy, like, wants to make out with the internet. I was over sitting in the back of his last, like, I was like, thank you for talking so much, Dan Ramirez, because I don't have to say a word in this class.

01:01:10

And,

And,

01:01:12

It's sort of like, you know, revenge of the nerds in a way. It's like jokes on you. Like, this guy's passionate enthusiasm

It's sort of like, you know, revenge of the nerds in a way. It's like jokes on you. Like, this guy's passionate enthusiasm

01:01:18

about the internet technology is what led him early into crypto. Was led him to pick coin base and ended up, you know, like, his passion for that led him to be a key person there. This guy made hundred million hundreds of millions of dollars probably is retired and,

about the internet technology is what led him early into crypto. Was led him to pick coin base and ended up, you know, like, his passion for that led him to be a key person there. This guy made hundred million hundreds of millions of dollars probably is retired and,

01:01:30

and got to do what you love the whole time. And so, like, you know, I I used to make fun of people who were, like, you know, overly enthusiastic.

and got to do what you love the whole time. And so, like, you know, I I used to make fun of people who were, like, you know, overly enthusiastic.

01:01:36

And now,

And now,

01:01:38

I preach that you need, like, enthusiasm is massively underrated in more people. Dude Danny's got a super handsome headshot now in LinkedIn. Dan Ramirez does.

I preach that you need, like, enthusiasm is massively underrated in more people. Dude Danny's got a super handsome headshot now in LinkedIn. Dan Ramirez does.

01:01:46

Good. You can afford a whole, you know, glow up if if you,

Good. You can afford a whole, you know, glow up if if you,

01:01:50

if you get that coin based IPO and early Bitcoin money, He's got great hair. This guy definitely takes him. He's a good looking guy.

if you get that coin based IPO and early Bitcoin money, He's got great hair. This guy definitely takes him. He's a good looking guy.

01:01:58

How are him's user? And he just bought,

How are him's user? And he just bought,

01:02:01

thirteen million dollars worth of a a thirteen million dollar property in Venice and another one in Park City. Dan one.

thirteen million dollars worth of a a thirteen million dollar property in Venice and another one in Park City. Dan one.

01:02:07

Yeah. Dan one. For sure.

Yeah. Dan one. For sure.

01:02:09

I and you could tell that he's ripped too. I this guy definitely has abs.

I and you could tell that he's ripped too. I this guy definitely has abs.

01:02:14

Dan won.

Dan won.

01:02:17

Good to have Dan.

Good to have Dan.

01:02:19

I'm just like, you just Google him and see his face. You know this guy is fit.

I'm just like, you just Google him and see his face. You know this guy is fit.

01:02:25

I should DM him. And put

I should DM him. And put

01:02:28

you on the edge of the group.

you on the edge of the group.

01:02:32

Say no more. I've seen enough to pick.

Say no more. I've seen enough to pick.

01:02:35

Yeah. You could tell by his jawline. This guy's got one of those, like, Vs that no stat is there's, like, junk

Yeah. You could tell by his jawline. This guy's got one of those, like, Vs that no stat is there's, like, junk

01:02:40

No. No NFTs. Just lift up your shirt six inches. I'll tell you. Yeah. Yeah. This

No. No NFTs. Just lift up your shirt six inches. I'll tell you. Yeah. Yeah. This

01:02:46

is

is

01:02:47

to qualify.

to qualify.

01:02:48

So,

So,

01:02:50

Dude, this guy's Sunny sounds awesome. I I did see the movie, and they made him look like a guy who could just put up with a whole lot of pain. That's what they made him look like.

Dude, this guy's Sunny sounds awesome. I I did see the movie, and they made him look like a guy who could just put up with a whole lot of pain. That's what they made him look like.

01:03:01

They made him look like a guy who, like, he would just get shit on constantly and he always pulled through. That's what they made him look like. And they also made them look exhausted

They made him look like a guy who, like, he would just get shit on constantly and he always pulled through. That's what they made him look like. And they also made them look exhausted

01:03:10

and they're terribly unhealthy,

and they're terribly unhealthy,

01:03:12

which is the price to pay. Kind of true. Yeah.

which is the price to pay. Kind of true. Yeah.

01:03:15

They made them look horrible. And if you look up photos of them, Granted, he's, like, looks like he's he was born in nineteen thirty eight, I think. So, like, you know, you are what you are at that point, but, like,

They made them look horrible. And if you look up photos of them, Granted, he's, like, looks like he's he was born in nineteen thirty eight, I think. So, like, you know, you are what you are at that point, but, like,

01:03:26

He definitely looks like he smoked a lot of cigarettes.

He definitely looks like he smoked a lot of cigarettes.

01:03:29

That's nineteen thirty eight. That sounds very old. Is that I looked him up on Wikipedia. I think it's thirty eight. Thirty years old. Wow. Yeah. He's eighty three. Wow.

That's nineteen thirty eight. That sounds very old. Is that I looked him up on Wikipedia. I think it's thirty eight. Thirty years old. Wow. Yeah. He's eighty three. Wow.

01:03:38

Sunny. Yeah. So he he, you know,

Sunny. Yeah. So he he, you know,

01:03:42

He he's alive and and And by the way, guy's name is actually John Paul Vincent Vicaro.

He he's alive and and And by the way, guy's name is actually John Paul Vincent Vicaro.

01:03:48

Quote, he changes Sonny.

Quote, he changes Sonny.

01:03:50

God damn. I

God damn. I

01:03:52

like,

like,

01:03:53

you have to have a nickname that everybody in your town knows you by.

you have to have a nickname that everybody in your town knows you by.

01:03:58

That's, like

That's, like

01:04:00

to me, that's, like, one of the great honors of life. It's, like, yeah, his name's name's Sean, but everybody called him, Sonny. Whole life, everybody called him Sunny. It's like, that's just, like, such a cool. I wish I had a calling card like that. That's an Italian thing. That's, like, I feel like all the there's always a Sunny in the mafia movies that I watch. Yeah. He operates like a monster for sure.

to me, that's, like, one of the great honors of life. It's, like, yeah, his name's name's Sean, but everybody called him, Sonny. Whole life, everybody called him Sunny. It's like, that's just, like, such a cool. I wish I had a calling card like that. That's an Italian thing. That's, like, I feel like all the there's always a Sunny in the mafia movies that I watch. Yeah. He operates like a monster for sure.

01:04:18

I like this. This is a good find. I saw that movie and I thought I don't want that guy's job. It sounded like an exhausting,

I like this. This is a good find. I saw that movie and I thought I don't want that guy's job. It sounded like an exhausting,

01:04:25

exhausted

exhausted

01:04:27

existence.

existence.

01:04:29

It's it sounded very challenging, but I did like the movie. They made him they made Phil Knight

It's it sounded very challenging, but I did like the movie. They made him they made Phil Knight

01:04:33

look a little goofy, which I'm a big Phil Knight fan, so it kinda hurt my feelings.

look a little goofy, which I'm a big Phil Knight fan, so it kinda hurt my feelings.

01:04:37

But,

But,

01:04:38

no, I thought it was a good movie, and this is a good find.

no, I thought it was a good movie, and this is a good find.

01:04:41

Alright. That's it.

Alright. That's it.

01:04:43

That's the pod. Let us know who won this the the duel, the annoying blonde haired guy who went first, or the less annoying Brown guy who went second. That's the pot.

That's the pod. Let us know who won this the the duel, the annoying blonde haired guy who went first, or the less annoying Brown guy who went second. That's the pot.

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