00:00
I am trying to be intentionally out of touch in the same way that I intentionally avoid the views.
00:10
Alright. We're live. What's going on?
00:13
Well,
00:14
Yeah. Well, Sam?
00:16
Yeah.
00:18
Yeah.
00:19
You're My first million has become
00:22
My first hundred thousand.
00:25
Yeah. Your first,
00:27
My last million.
00:29
Yeah. On a good day. What,
00:31
You took something out of the milk road. I texted you this, but you didn't reply. You so in the milk road, my favorite part was you had what was the starting amount a million or five hundred or what was it?
00:43
You had your portfolio. It was actually a little bit less. It was nine nine hundred fifty thousand. So nine hundred fifty thousand dollar portfolio, and every day you would say what it's at compared to where what it was, you took it out. What's it at now? Correct.
00:57
Why'd you take it out? I don't even wanna look. We took out the prices today
01:01
because,
01:02
or what do we do? We today, we did a little different things to crypto prices crashed over the weekend.
01:08
And so we were like, okay, people are definitely gonna wanna know, like,
01:11
what's happening by email? Happening, all that stuff. So
01:14
No. Not Saturday. Monday. We we sent it today.
01:17
No. You sent a weekend. Oh, well, we can version.
01:22
Yeah. That was just a different. That was just like a special edition. Yeah. That was that was nothing.
01:27
Today, we sent, like,
01:29
why is crypto crashing? The weekend one was about Jack Dorsey, because Jack Dorsey announced something called web five. And we were like, which is hilarious. It's just like a hilarious thing because it's like, web threes that people are debating
01:41
is even a thing. And, like, he just skipped web four and went straight to web five. And, like, people were like, what the hell is this? So we explained what the hell is this. That's what the weekend one was.
01:51
But today,
01:53
crypto's down, like, twenty percent or something crazy.
01:57
Like, if your room is is, like, I don't know, thousand dollars or something like that right now.
02:03
So, yeah, dude, it's brutal.
02:05
The million dollar portfolio. We basically started this, right, wherever I started the milk road, I was like, what will be entertaining
02:11
to get people hooked to subscribe. And I was like, oh, I know. I'll put up a million dollars,
02:17
and I'll say, watch. I will publicly invest this money. And let's try to turn it into ten million and became a mission, turning one million into ten million through crypto investing.
02:26
And to be honest, we didn't even do that much we didn't even make very many moves. I could just started with a million dollars worth of of ETH.
02:33
And I think we made, like, two investments maybe, since just because I've been busy with the milk road, like, building the milk road and, like, the podcast and my other business and stuff like that. It's not like I've been super active.
02:44
But,
02:45
ETH is down, like, sixty six percent, and all of crypto is down, like, that or worse.
02:50
And so,
02:51
the portfolio is brutal. Like, you know, a million dollars is currently
02:55
two hundred fifty or three hundred thousand dollars is my guess, based on where we're at. Where's your head at? Are you freaking out, or are you still calm like you always are?
03:05
I'm still calm. Yeah. So so this is so it's a funny little, like, story, I guess.
03:10
I don't know why I said it's funny. This is actually no humor at all in it, but it's interesting how how I feel about it.
03:17
Ben flew in. So Ben flew in last night, not producer, Ben, business partner, Ben. So business partner Ben flies in last night where he's gonna be here for the week. We're gonna, like, work on a bunch of stuff. And, like, basically, like, you know, from the time he took off, the time he landed, like, our whole business has changed. And what what has changed is basically, like, Well, aside from our own personal
03:35
net worths,
03:36
you know, going down,
03:38
and the Mill Grove Public portfolio going down, Like, we have just entered,
03:43
like, the whole economy has entered a recession,
03:46
and crypto has entered for sure, like a big downswing, bear market, crash, whatever you wanna call it. And it's it's not gonna, like, just bounce right back and all is gonna be, like, fun and dandy again. Like,
03:56
if you think about this time last year,
03:59
Not this time last year, but let's say, like, six to twelve months ago, it felt like
04:04
money was raining from the skies. Like, you know,
04:08
I invested in a bunch of tech stocks. Everything was up. Every day, everything was up. Zoom is tripled in price and Amazon is up because everybody ordering all their shit online. And, like,
04:18
every company that we invested in private startup was, like, raising money at crazy valuations.
04:23
And literally, like, there's a phrase of money raining on fools. Money was raining on fools. And, like, NFTs were selling, you know, NFTs were selling for ridiculous prices.
04:33
And it's so crazy that, like, you know, on a dime,
04:37
it feels like the whole world has changed, and everybody's mindset mentality has also changed, which is that, like, Now it feels almost impossible to make money. It's like, well, where do I go make money? The stock market is down brutally.
04:48
Crypto is crashed.
04:50
Every business is now laying off people or freezing hiring.
04:55
On top of that, you know, companies are cutting their budgets and add spend. So if you're at if your business relied on ads, you know, that's getting cut. And so now, you know, money was draining on full. And now money's being drained from from smart people too. You're seeing advertisers run I tweeted out, like, what's going on in the ad world because I'm not in it anymore. You're seeing it go away.
05:15
Not this fast, but, yeah, like, you know, the first, shoe to drop was, like, kinda, like,
05:20
consumer
05:22
brands, like, D to C brands and whatnot,
05:24
they were the first, I would say, the last three months to start, like, reducing spending. Whereas before, it was, like, How do I spend more?
05:32
And then there was, like, companies that are like, well, it's hard to have a big ad budget when you're laying off a bunch of people. So they're and now that they went into hiring freezes or layoffs,
05:41
their ad budgets are certainly tightening up. We don't see it this month. Like, this month's an all time high in ad revenue, but, like,
05:47
I'm sure in the next three months that ad budgets are gonna constrict. They'd be crazy not to.
05:53
In our e commerce business,
05:55
we see sales
05:57
Like, this month is good, but you could see the tightening happening where it's, like,
06:02
you know, people just are you know, they're not getting STEMy checks that they can go spend on, you know, you know,
06:08
electronics and toys and and and clothes and and all this good stuff. And so consumers are start slowing down their their spending. And so it's like and all these things are interlinked. Right? Like,
06:19
the cons when the consumer spends less, the business makes less money, then it has less money to hire, less money to advertise, and then the platforms get less revenue, and then they do the same thing. And it's just all just interconnected. Right? So this is interesting to me because
06:31
I have not lived through a bear market as a founder or investor.
06:38
Right? Like, two thousand eight, I was a sophomore in college or something like that. Right? Like, I don't know. You're probably saying that you're, like, a freshman sophomore in college. I graduated. I graduated high school in o eight. So, basically, this is our first time as like money earning professionals
06:52
that we've experienced anything like this. Yeah.
06:55
Dude, it is crazy. So I'll give you kind of my
06:59
my mentality, because you said, like, are you freaking out? My mentality was, like, definitely I've had thoughts of, like, oh, shit.
07:05
Oh, shit. Oh, shit. Oh, shit. But then I sort of, like, well,
07:08
The thought can arise, but I'm not, like, consumed by it. Like, I definitely had, like, a day where I was just, like, kept checking prices, kept doom scrolling Twitter.
07:17
But, like, I don't know, If I pride myself on, like, you know, my my mental fitness, then it's like, well, this is the time to be fit. It's like when stuff that's hard happens,
07:26
This is the time to use all those tools you've been building up, all those muscles you've been building about, like,
07:31
seeing things in a way that actually serves you. And so for me, I'm like, immediately, I'll show you this thing.
07:38
So Ben flies in and last night at midnight where, basically, he were sitting in my office and we We wrote this thing at the top. I don't know if you can see this. It's, like, unfocused, but it says, like,
07:47
how a loser's brain would work right now? A loser brain. It's like, loser brain says this. So we all, like, you know, like, rich dad poor dad. In my head, I have this thing called loser brain, winter brain. It's like, a loser's brain will bring these thoughts up and bring its attention to these things. And a winner's brain will have these, like so we basically wrote down all the scary thoughts. It's like,
08:07
you know, and so I was like, Ben, just rattle them off. So I'll I'll read you some of these if you're interested. But, like, well, alright, but we did this exercise in order to reframe our thinking. Everything that I think about right now, and I've been I'm calm about it because I I've always I'm you everyone gives me a hard time that I'm conservative and it's kinda working out right now. But even still, I'm down a sick a huge amount.
08:28
And
08:29
my fear is always rooted in, like, I'm gonna run out. I'm, like, I'm I'm homeless. Do you have those fears of, like, I'm I'm gonna run out?
08:40
No.
08:41
Because if I act if I asked you, do you actually think you're gonna run out?
08:46
No. But I wake up. You sample or think you're gonna go broke,
08:52
which is a combination of
08:54
you you got a lot of money still. And secondly,
08:57
you always have like, your core skill is the ability to make and sell products
09:02
that people are gonna want. Well, I'm not saying how do you ever watch this? I'm not saying it's logical. I'm saying like, it's like my fear of flying. I understand that, like, I'm I'm far more likely to fall off, like, set of stairs or to get hit in the car going to the plane, but I'm still, like, it's such a deep rooted,
09:19
issue. And I think it's actually deep rooted in a lot of people of, like, I just Fuck. I worked.
09:23
Sure. So long for this thing, and it's gonna run out. Joseph Kennedy, the JFK's dad. I I read his biography. He was like, the eighth or ninth richest person in America,
09:32
when he was alive. And I think he was worth a hundred million dollars. And he said, I would give away half of my money now if it meant I would be, I get I would be guaranteed to have the other half forever and grow at a very conservative but consistent rate because he was, like, I'm just so afraid of losing everything that I worked for, and that loss aversion is often, like, it's interesting.
09:53
It's, like, way harder. Would you do that, by the way? Would you take that trade?
09:58
No. No. I wouldn't. But,
10:01
at no. No. I
10:03
I I think that the world so he said that probably in nineteen twenty. I think, like, I think that I still am bullish on America, and I still think that over the next hundred years. Like, I'm gonna it's gonna average seven or eight percent a year, and I'll be okay. So I'm I'm okay with no. I I wouldn't do it. I I still think and everyone talks about America, like,
10:22
like, oh, like, Empire's only last two hundred and fifty years and we're we're there. And in my head, I'm like, but
10:28
do you think that we're gonna go to zero? Like, England, like, has been around for two thousand years, and they're not number one or number two, but, like, being number seven's pretty good too. You know what I mean? And so whenever people talk about, like, America's gonna collapse, I'm like, well, like Wait. They
10:42
they still got, like, a dude standing in front of a building all day, like, statute. You can go take pictures of them. Right? So, like, life can't be that bad there. They got the guy with a fuzzy black hat on. Yeah. Like, it's not that bad. Like, I wouldn't mind being Germany or France. And, like, they they, like, were the best for two thousand years, and now they're not number one or number two. But, like, You know, I'll be the red sox. It's okay. Like, it's not a big deal. So anyway, I'm pretty, like, long term bullish on America. So, no, I wouldn't give away half of the door.
11:10
Italian's still eating pasta. Are the Spain the Spaniards still taking naps in the middle of the day? Like, yeah, you don't need to be number one. To live a very sweet life. Yeah. Yeah. Yeah. Yeah. So, like, so it's not like, I'm I'm happy.
11:24
So I wanna describe because I think this is the main topic. Right? Like, I had a bunch of, like, you know, random ideas and stuff like that. And we can get to those. But I do think the main topic is probably where most people are at is
11:34
Our audience is, I would say, heavily entrepreneurial
11:37
and or work in tech. If you let's just go through both scenarios.
11:41
If you work in tech,
11:43
you're likely,
11:45
you know, have a lot of your net worth invested in either the stock of the company that you're being paid in,
11:50
or you,
11:51
you know, you might be investing the mark crypto to the crypto markets or the stock markets.
11:55
And,
11:57
Most likely you are you've taken a bath of, like, you know, something between thirty and sixty percent of your net worth in, like, the span of five months has evaporated.
12:08
And, like, whatever plan you had for buying a house, you know, you're like, oh, wait. You know, the My money is sort of, you know, a lot of my money is gone, and the interest rate has gone up. And, like, you know, or, like, you know, I wanted to have that kid another kid. And, like, now I need to, like, think twice before I do that. And, like, shit. I've been ordering groceries, like, three days, you know,
12:27
ordering DoorDash three days a week. And, like, do I really need to pay, like, you know, thirty two dollars for, you know, a burrito and chip like,
12:34
you know, you start to reassess a bunch of things in your life.
12:38
Especially because the last ten years, like, if you're around our age, we're, like, you know, kinda like early thirties.
12:44
Like, all you've seen since you graduated was numbers go up. And so it's kinda jarring to suddenly see
12:51
numbers go down. At least that's my perspective. Did you think I accurately, like, labeled one part of our audience?
12:56
Yeah. In particular,
12:58
the last two years. Like, it's been, like, up, up, up, up, up, like crazy. Yes. And that that is our audience.
13:07
And then you have business owners who are like, great. This thing I've been, you know, working so hard at every day for the last x years.
13:16
Like, Here's the here's the good news,
13:20
long silence. Okay. Here's the bad news now. Your valuation
13:24
is, like, cut in half.
13:25
Your customers are likely going to, you know, start tightening up and paying you less money.
13:31
You're probably gonna have to do some layoffs trimming somewhere in your business and your cost structure.
13:36
And, like, there's a, I don't know, thirty to forty percent chance you got a business in the next year and a half. On top of whatever your normal risk of going out of business was. And so, like, great. You know, we have you have risk of going to zero. And so that's a kind of stressful thought. And so on both sides, you have this kind of stressful, kind of depressing thought. And, I would say
13:57
And and if you're an investor, you know, all the same thoughts, you know, times two.
14:02
So
14:03
where does that leave you? You know, you're either in a puddle of despair,
14:08
or you're gonna be like, okay. I need to kind of, like, giddy up and re and and I have to realize the environment has changed and
14:16
If that changed, what needs to change in my world? And so I think there's, like, a pretty healthy exercise to go down of, like, what needs to change in my world?
14:23
And that I would say, like, that's the productive conversation.
14:27
So it's not enough to just be like, I'm just gonna close my eyes and think happy thoughts and be positive.
14:32
It's like, Well,
14:34
I need to
14:36
be realistic. A lot of shit's changed. I probably need to change with it. But also, like,
14:41
Do I wanna sit here and feel depressed or hopeless? No. And so, therefore, I gotta, like
14:47
you might have that thought of, like, I could lose it all or this could all go to zero or, like, all my hard work is gone or, like, whatever, all those thoughts. But in my mind, it's like,
14:56
I need to reprogram my brain to operate in this new world. And I need to, like basically, I need to, like, consciously reprogram my brain. That I have Well, what what I'm my point is I do believe, like, or I do have that fear of it's all gonna go away. And my reaction is not quit my re or my reaction isn't even spend less. My reaction is, yeah, it might go all the it might go away. Let's get after it. Like, let's go get more. Or let's go you you know, like, it that to me, it's a very stressful period, but it's a period. And it's not actually stressful when I actually like logic think about it. I'm like, it's not that big a deal, but it is a I think that whenever I look back at the shit that I've made that's been successful,
15:37
It typically is when there's not a lot of alternatives.
15:41
And it's like, oh, man, this needs to work.
15:44
So Right. I do my best work. When when back against the wall. That's a that's a one thing that a lot of people believe, and that's a belief that can serve you well when things get hard.
15:54
So it it is stressful, but,
15:57
you
15:59
I I think I said this a while ago. I go, you're
16:02
I think I'm more likely to be like a slow and steady, like, success, whereas you're more likely to become a billionaire in, like, five years or lose it all. And so
16:13
because you take you take well, you take a lot of risk or both. You'll become a billionaire then lose a little. You take way more rate. Your risk on.
16:21
That's why I'm interested in hearing your perspective on this right now because you're, like, you're you're all in on a couple things that that just so happen or getting hit the worst.
16:31
So what would be fun to talk about? What would be interesting to talk about? Like, you know, we can go into, like, why we think it's happening? We can go into, like, what are you gonna do about it? We can go dev. Well, I don't feel bad. Like, Where do you wanna go? I don't wanna go into why it's happening. And I was thinking about this. We're in this tech group with all those guys, and they're all, like, it's just a bunch of, like,
16:49
supposedly smart people. No. They they actually are smart. But, like,
16:53
they,
16:55
they're what's crazy is that, like, America has been around for hundreds of years.
17:01
Capitalism has been around for thousands of years, and yet the smartest people don't agree on the cause or the solution, and they can't predict what happens. And that's kind of interesting to me because
17:14
at your business, at a business, like you have a pipeline and you have a funnel. And when you build a good business, you're like, alright, there's a ninety percent chance that blank is gonna happen and I understand that business.
17:25
America is kinda like a business just with three hundred thirty million people and like a weird cover, a weird corporate structure where, like, you can't really, like, do whatever you gotta get all these checks and balances and all this shit done. But what's isn't it kind of fascinating?
17:38
That we still don't entirely understand
17:41
the cause or the solution to a lot of these different problems.
17:46
That's always been very unsatisfying.
17:48
It's like,
17:49
stock market goes up or down, then there's, like, this race to make up the cause.
17:54
And it's like,
17:55
okay. So you're saying every time that happens, this will happen? No. Okay. So you're saying that you could have foreseen this. Well, it's like And what it is is, like, you know, sort of this backwards application of narratives.
18:07
And it's not that there was no cause or there is no true narrative. It's just that
18:12
It's not easy or clear to see what is this true cause and what are the true narratives
18:17
amongst the many possible explanations and reasonings you could have. Right? Like, Did it rain today? Cause I did this dance, or did it rain today? Because,
18:26
you know, the clouds have, you know, heavy, but of a precipitation. And why do they have that bill because of the changes in weather and whatever else. Like, you know, it's very it's very hard to separate the people who think things are happening because they did the they think it's raining because they did a funny dance.
18:40
It's just that we can predict certain human behavior
18:43
relatively reliably.
18:45
Like, you know, the whole padlocked dog thing, like, I I know that if I do this, this and this, most of the time, a creature is gonna react by doing x, y, and z. And I was and it just kinda has always baffled me. I'm like, well, why can't we take all of this input and put it together and figure out what the solution or what the cause is. And that's always baffled me. And it also freaks me out that
19:06
So many people who I view as smart say opposite things. Do you follow a zero hedge on Twitter?
19:12
Yeah. So zero hedge is like this pretty hardcore.
19:15
I don't know if it's like liver libertarian's the best way to describe it, but, like, they're pretty much always like doom and gloom. And every article is written by the guy from Fight Club. What's his name? Tyler Durden. Tyler Durden. Yeah.
19:28
And every article is written, by that guy.
19:31
And their Twitter profile,
19:34
they only tweet in caps.
19:36
Every tweet is a is a caps lock. And they tweet.
19:40
They tweet the scariest stuff
19:43
all the time. And it's incredibly easy to believe and trust for some reason because I don't know what it is about emotion that I just automatically assume that the worst is actually the truth.
19:53
And
19:54
I I've had it, like, unfollow that. Did you have you ever do you file that handle?
19:58
Yeah. For sure. And I I I would not unfollow it, but I I totally get what you mean, which is that like.
20:04
If you follow zero hedge, you're just, like, Wow.
20:08
All of the big
20:09
people in charge are sort of idiots and
20:13
all of the stuff that's going is, you know, overvalued and overinflated
20:17
and over everything.
20:19
And, like, you know, no matter how bad it is, it could get worse. Don't think that this is the end of the pain. Right? And and and that, you know, like, people have said this about, like, you know, people who predict crashes and recessions. It's sort of like, This guy has predicted, you know, a recession thirteen out of the last three times it's happened. And it's like, you know, if you're every year you predict a crash,
20:39
you know,
20:41
you'll be seen as a genius because you predict it for three straight years. It's like, you then it happens. Like, well, you weren't wrong. You were just a little early.
20:48
And then, like, you know, all those years where things are going up,
20:53
you know, you're again, you're just sort of, like, you're just early. And so it it kinda pays
20:58
somebody said this the other day. Like, I would say in general, like,
21:02
in a bear market, you know, it pays to be a pessimist.
21:05
And in a bull market, it sort of, pays to be an optimist.
21:08
And somebody who's always a pessimist or somebody who's always an optimist is not gonna have, like, long term success. The ability
21:15
to shift gears between like optimism and pessimism and knowing when to do what is a, like, highly underrated trait that, very few people have. Let me tell you what I'm doing with the I don't exactly have a biz I don't really have like a business business, but I have a, a small version of that that might become a proper business. Let me tell you what I'm doing and then you tell me what you're gonna do. But basically,
21:36
my reasoning and keep in mind, I'm like a I I feel so stupid when it comes to this finance and economy stuff. I don't know. I I really don't don't understand anything, but my belief is basically like Well,
21:49
now is the bottom. And I actually discovered this with the hustle where I was like, I was creating something that people kinda dismissed or thought it couldn't work. But then it takes like four, five, six years to get to like, a substantial
22:02
business.
22:03
And by that point, people took it seriously and I was the biggest and the best and therefore it could get acquired or was making a lot of the revenue. So with my the thing I'm working on now, my my logic is, well, now is the time to work really, really hard. And it might suck for one or two or three years. But when things start changing a little bit, that's actually around the time where I'm gonna have a team I'm gonna have process, I'll have systems, I'll have product market fit, and then we could accelerate really hard then because we've already done the the hard work during the hard times. Is that is that kinda how you're looking at it too a little bit?
22:35
Yeah. Definitely. I I think that's,
22:37
that's definitely the case. So what what I'd said was, I said it's kinda kinda three things to myself.
22:42
I said, number one,
22:45
this is a good chance to remember what I truly believe. It's, like, this is, like, first I needed to calm my nerves because if I'm in a sort of fighter flight, if I'm in a state of, like, panic, anxiety, and stress, I already know my decision making is not very good. My decision making is at best,
23:04
rushed,
23:05
and at worst,
23:06
it's, you know, like, operating from a place of fear. And therefore, all I'm trying to do is, like,
23:12
you know, like, minimize pain and never, like, get any any advantage out of it, just like minimize the amount of disadvantage I'm having into short term.
23:21
And so our my first step for me is get out of a fighter flight mindset. And so that that's where I first just check myself. I'm like, well, what do I really believe? I truly believe this in the bottom of my heart don't mean this in an arrogant way, but I truly believe that, like, if I look at my life over, like, a ten to twenty year period from here, right, I'm in my early thirties. So by the time I'm forty or fifty, Like, I think I'm gonna have more money than I'll ever know what to do with. To me, that's like the spoiler of my life. It's like if I flip to the end of the book, I'm like, oh, it ends happily ever after. Yeah. Like, I I truly believe that. I truly believe that, like, I'm just gonna keep doing business projects. I'm gonna keep investing in things and, like, On the whole, I'm gonna end up so far ahead, even if any individual investment or any individual business project doesn't work out. In a ten to twenty year period, the when I check the score at the end of the game, like, I'm gonna be ahead. I'm gonna have more money than I know what to do within my personal I truly believe that about myself. So if I knew that was the ending, then there's no real reason to panic. Like, if I know that's what the score is at the end of the fourth quarter, then, like, It doesn't really matter what happens in the first quarter. Like, I should I should, for sure, be playing and doing my best. But, like, it doesn't matter if I fall behind or if I lose a little bit money here. If I if the score doesn't go my way, for this next twelve to eighteen months. That's okay. So that that it's like, I gotta remember, do I believe that or not? Alright. I do believe that, then chill first, chill the fuck out. Okay. That's that's like stage one. Wait. Let me let me tell you something though really quick. The to let me be the huge pessimists here.
24:46
I believe that that is true about you as well. I believe that that is true about a a bunch of people who we know. But here's the thing that I think about all the time. It's like, I don't wanna be I don't wanna have more money than I know what to do with when I'm seventy. I wanna fuck it now when I'm young and I can experience all this crazy stuff and like enjoy life. I don't want it then. I want it now. By by then, I don't care. Like, I'll I I'm okay with having way less. I want it today. I want the freedom now when I'm healthy and can go do whatever I want.
25:13
That's why I I freak out. Like,
25:16
I'm with you, but it's sooner, the better. It's not now or never. So sooner, the better is very different than now or never. And so, okay, we got a sooner than Metaret mindset. So we're gonna take a bunch of shots. We'll take a bunch of action now to increase the odds that it comes sooner rather than later. The second thing is Does it mat did my day to day actually change
25:34
because my stock portfolio, my crypto portfolio, my net worth changed? Right? Like your net worth, it's not a figment of your imagination,
25:40
but it's sort of like a figment of your,
25:43
like, ego or sort of like a figment of your, like, perceived sense of safety.
25:48
And so, like, in reality,
25:50
the stock market go down, the credit mark go down, it doesn't actually change my, like, day to day lifestyle or comfort.
25:56
Based on where I'm at. For some people, it's going to change that. But for me, it's not gonna change that. So that also to help take the edge off, which allows me to think with the clear head. Then I start thinking, alright. You're not changing you're you're not changing your spending pattern?
26:10
Oh, like, in a small way, but nothing that, like, My happiness on a day to day level doesn't change whether I, you know, like,
26:17
like, you know, have a chef or not. Yeah. Like, oh, oh, cool. It's cooking season then. Right? Okay. Cool. I'm buying. I'm going to, like, I went to Trader Joe's yesterday instead of Whole Foods. Yeah. I shift some shift some small decisions, but, like, That's cool. Twitter does sick. Like, you know, who cares? Like, those sorts of things don't actually, like, sway how I feel. Wait. He's gonna give me another card. Did you actually do? I guess I'll hold off on that.
26:39
You're doing trader joe's now. Trader joe's? Yeah. Like, literally. Literally. Yeah. Like, but, again, I like trader joe's. This is not a big problem for me because I drove four extra blocks and went to the trader joe's.
26:49
You know, like, cools. You know, so so, you know, and again, not everybody is fortunate, but, like, these are, like, their situations. I get that.
26:57
But, like, I'd like to believe that in general, my my day to day, like, kind of happiness quotient
27:03
is not
27:04
so
27:05
so weak that it's, like, dependent on these, like,
27:08
material or, like, you know, like frivolous things. It's like, you know, sometimes, like, it's stuck in traffic. Well, guess what? I don't know, man. Radio, baby. It's a concert.
27:16
Right? Like A big ass honey crisp apple from Whole Foods. It's not trivial if you ask me.
27:23
But I don't know. I've always had this feeling of, like, I I've always kept myself honest, which is what I want is to have,
27:30
you know, a fat mansion and be eating a feast with all the people I my friends and, you know, family, like, all at the table. We're laughing and joking. That's my ideal.
27:38
But
27:39
what's even better than that? What's even better than having the sick mansion with the feast with all your friends and family all around you and you're laughing at the great joke you just cracked. Okay. That's what I thought was the peak, but the actual peak of the peak is you're the type person that you can get stuck in an elevator and have fun. Because then you're invincible. What's better than invincible mode is, like, You can put me in the shittiest situation, and I'm still gonna be laughing. Okay. So now now what? Now I don't really have anything to fear because my my my situation, my my feelings weren't dependent on having all those those items. Alright. Even though I prefer them. So,
28:14
So, yeah, you know, I think that, I guess, like, yeah, I do make some shifts in my, like, lifestyle, but it's not, like, to me, I'm, like, oh, cool. It's a new season. Like, it's tightening up season. It's like, you know, it's like getting shredded for the summer for, you know, your body. It's like, cool. I'm also gonna go and cancel a bunch of subscriptions. I don't care about. Because it'll make me feel good. Like, I'm I'm putting a healthy amount of discipline in. Like, I kind of accrued a bunch of excess fat when it was one season. And now it's time to cleanse. And, like, good. Like, you know, where where am I spending that I don't really wanna be spending? You know, where are we where are we advertising that's inefficient you know, who's on our payroll that's not really pulling their weight? Good. Let's get rid of all that weight. Now is a spring cleaning baby. Right? So it's like, that's the next step for me. It's like, you're doing an actual bring cleaning and be excited about it. I've been using True Bill. This is not an ad, but have you seen it yeah. It's called True Bill. I bought, like, the hundred dollar subscription. Have you ever used that?
29:06
You know what that is? Used it, but I've used stuff like it. Yeah. It basically, like, looks at your subscriptions and, like, suggests how does it know what you're not using? It suggests what to cut. Right? Or how do I describe them?
29:17
Like, I didn't realize that me and Sarah both had Amazon Prime subscriptions. Like, apparently, I thought I canceled one of them. And so it catches that And it also, like, I just see how much I'm spending every month and I'll say you have an upcoming three hundred dollar subscription coming up and it's like, oh, that's my trainer.
29:34
But there's been times where I'm like, oh, damn. I thought I didn't know I had Xbox live or whatever the hell that thing's called.
29:40
It's a twenty nine dollar thing and it's coming up. So you can, like, cancel it. But then what they do
29:45
is
29:46
if you need to cancel something that you wanna call, they'll, like, do it for you. They'll do it for you. It's pretty cool.
29:53
Yeah. And so so that's another piece of this, which is, me, me, Ben, and Safon, we were hanging out this morning. And so we, you know, we all hung out together, and we're getting our coffee for the that's the milk road team. And we're like, or like part of it. And we were like, okay, let's just make a real list real quick. Let's assume for a second.
30:09
Assume this market condition these market conditions last for the next, let's call it eighteen months. So let's assume the stock market, yeah, it'll bounce back from, like, whatever. It'll find some low, and it'll bounce back a little bit, but it's not gonna be, like, Alright, baby. We're back to, you know, everything just keeps going up. We all printed money. Right? That's not gonna happen. Let's say for for the next cycle.
30:29
Same thing with crypto. Let's say that, you know, companies, you know, they're not giving out raises or hiring as much. Let's say that customers tighten up their spending. So revenues go down across the board. Like, cool. Let's assume all that to be true.
30:41
Do we also believe that, like, like, first, some things are gonna die, some things are gonna survive, and some things are gonna thrive. True bill is something that thrives.
30:51
During a time like this. Right? Cause it's helping you
30:54
bring some, you know, austerity or, like, you know, financial discipline into your life. So people are gonna want that product more. So they're gonna thrive. What else is gonna thrive? Baby short sellers are gonna thrive right now because they've been betting that the market's gonna go down and sure enough it has. Who else is gonna thrive? You know, the guy who's been sitting on a bunch of cash on the sidelines is like, oh, actually, like, there's things that I think valuable businesses, like, you know, Facebook and Amazon that are trading at all times sort of, like, you know, lows in the last decade. Like, now is the time to dollar cost to average into these companies into Dude, how about assets.
31:25
How about Moiz Ali saying he had in the interview you did with him saying he had fifty million in cash, and he was like, I just am waiting. It's like, oh, okay. Now,
31:33
Yeah. I understand what you what's the time I understand her. Yeah.
31:38
Yeah. Exactly. I remember, just as like a small anecdote, like, I remember maybe seven years ago, six years ago, something like that. I don't know. I bought Bitcoin for the first I think I bought ten grand of Bitcoin back when Bitcoin was, like, at six hundred seven hundred dollars. Six, seven hundred bucks.
31:53
And the next week, it goes up to eight hundred. And I'm like, there we go, baby, just as I wanted. Buy the thing, price goes up. Love it when they stick to the script.
32:02
And,
32:03
like, I think two weeks later or something like that, I don't make it up timelines here, but very short soon after that, Bitcoin crashed to, like, two hundred dollars. So my, like, what was eight hundred was now, you know, I lost, you know, whatever, seventy five percent, I don't know public math, but you get the idea. Lost a bunch of money in that process. And at that time, ten thousand dollars, like, I was making
32:21
a hundred and
32:24
fifty k a year, I think, was, like, my salary, a hundred Actually, definitely a hundred. I made either a hundred twenty or a hundred sixty. So Dude, I I remember when that was, and I remember you told me you made a hundred fifty grand a year in salary. And I was like,
32:35
my god. You're the richest person I know.
32:39
Yeah. I was the richest person I knew at that time. So I was like, and, you know, and I actually, like, it I was underpaid for, you know, what I was doing. But in my head, I was I was like, wow,
32:48
don't say anything. They might realize how much money they're paying you. You know, like, that was like, I was so honored to be making that kind of money. So,
32:56
and, like, I feel good that I was honored. Like, it feels it's it's great to feel honored at what you're getting. That's actually an awesome feeling to be versus consistently dissatisfied.
33:05
But, like, I remember it went down to two hundred. I walked into the office and I was, like, bitching about the, like, the crash of it. I was like, my big coin because, like, you know, I'm very public when I invest in things, which makes me often look like a dummy. Let me occasionally make sure you look very smart. And I was like, oh, guys, my favorite coin purchase. My my my my I forgot I put a ten or twenty grand something like that. I was like, it's, it's, like, all gone now.
33:24
And Fercon was, like,
33:26
He's like, this is great. Right? Like,
33:28
you know, do you, like, do you believe less in Bitcoin just, like, than you did two weeks ago? Like, did you learn some new information?
33:35
Like, besides the price changing, like, did you learn any new information on Bitcoin that makes you less bullish on Bitcoin? I was like, no. Like, barely knew anything to begin with. And, like, you know, nothing changed. And he's like, cool. So, like, if you bought now, you could bring your average cost basis down to, like, four hundred. And I was like,
33:53
Oh, like, yes. That's true. And I went home and I did it. And I was like,
33:57
like, I remember going from, like, just what I thought was the only response. I thought the only response is bitch and moan. And then he kinda pointed out, well, like, did your actual conviction change or just the valuation?
34:08
I was like Right. Well, I don't know. But conviction didn't change. Not not to say I had a ton of, like, very well thought through conviction at the time, but, like, it didn't change. So I did. I I lowered my cost basis to four hundred. Now as Bitcoin, bitcoin today trading at, like, I don't know, twenty three hundred or twenty three thousand or something like that. But, like, Let's say on the average last year, it's been like thirty k. So that that's the difference between,
34:28
basically, like, an eight x and a four x in your return. Was that one conversation during that one time. And I've heard this many, many times before, which is like, you know, fortunes are built during these bear market times, and it's really for two reasons. Number one,
34:42
If you start a company,
34:43
you're gonna be, like, the lean mean cockroach. You're not gonna have too much competition,
34:47
and you're gonna build up your con your kind of team and consumer base now.
34:52
So that as, you know,
34:54
as the tide lifts all the boats, you're the biggest fucking boat. That's what happened to you with the hustle. And, like, that's what happened to many companies that started during, you know, let's say the the recessions or bear markets. The same thing happens with investing. It's like, well,
35:07
the goal If your strategy with investing is to only buy in when things are going up
35:12
and then, like, sell or do nothing when prices go down, like, you have
35:16
inadvertently
35:17
subscribe to a buy high
35:19
sell low strategy.
35:21
And, like, you know, I think we know that that's not a winning strategy. And so, like,
35:27
You know, well, then what's the opposite of that? The opposite of that is to
35:31
if you have conviction or if there are good assets that are under priced temporarily, like, there's a dislocation because of panic and fear. Like, those are the times we were supposed to buy in. Very hard to do so because your mentality is like like, I just lost a ton of money. I don't feel like going and putting more at risk, but
35:47
in reality, we kinda know that is the right thing to do. For the if you could pick assets properly.
35:52
Dude, what I've been learning about this and I tweeted this out was, like, I'd rather just earn more income and build more companies than worry about these losses.
36:03
So let me can can I let's Let's shift a little bit. Can I tell you about a company or this you remember how you said I I find these things that are kind of interesting and weird? I found another one.
36:14
And I wanna say about it. Alright.
36:17
Have you heard of this conference
36:19
called Shop Talk?
36:22
Shop talk. No. My name sounds familiar. One second. Let me go to this. So start to describe it. Let me see if I have heard of Alright. So it's a conference that I think you would have been involved in because it's for e commerce people, but it's not just like e it's not like D to C entrepreneurs. It's like Shopify, as well as, like, every Shopify plugin, as well as, like,
36:42
retail brands, like, like, the founder of or the CEO of Jay Crew might go and talk to, like, the talk on a panel with, like,
36:50
the someone at Stripe. I don't know. Just like, it's like online commerce, but, like, for retail stuff. That makes sense. But it's, like, b to b to b to b to b to b to the use case. So who who goes? I'm, I'm at ecomm store. So should I go to this?
37:03
Probably
37:04
not. But if you're, like, you would go and speak and, like, executives at Gap would be, like, oh, like, these young startups, here's what they're doing. Maybe we should, like, considered changing our strategy to x, y, and z. Or we're we're making apps for this. We're making software for this ecosystem. Let's go and talk to other apps, so maybe we could do business together. Does that make sense? Let let me ask you slightly, slightly differently. There's, like, kind of like trade shows or, like, it's a trade show. Conferences where it's Okay. It's more like a trade show. Gotcha. It's a trade show. Alright. But here's where things get interesting.
37:34
So the guy who started it, I linked,
37:37
to his
37:38
his LinkedIn down there, in the document.
37:40
And I think his name's Jonathan Weiner, and he has this co founder, he's an Indian guy named I forget the Indian guy's name, but, so listen to their background and let me tell you what they're doing now and why this is so fascinating.
37:54
So I relinked LinkedIn article from Fox and it said the guys behind money twenty twenty conference won't do the same thing but for commerce. So what that's what that will explain is basically this guy, Jonathan and his partner, they started a company, by the way. I saw you smirk when I said the guy's last name. That was hilarious.
38:13
I was trying so hard to come up with a good joke,
38:15
and I just,
38:17
you know,
38:18
my filter in my brain was like, you know what? Not worth the risk.
38:23
This data is wrong every freaking time.
38:26
Have you heard of HubSpot?
38:28
HubSpot is a CRM platform everything is fully integrated. Well, I can see the client's whole history, calls, support tickets, emails.
38:36
And here's a test from three days ago, I totally missed.
38:40
Hubspot, grow better.
38:43
So this guy and his partner, Jonathan Weiner is in his Indian partner. It's it's like you and you and me. Like, Weiner and the Brown guy.
38:54
So,
38:55
this guy, they had an ad tech company as well as a payment software business that they sold for hundreds of millions of dollars. And then oddly, they went and started a conference, and it was called Money twenty twenty. Which was like a fintech payment processors
39:09
trade show business. And within two years,
39:12
they scaled it to like thirty or twenty five million in new with ten million in profit and they sold it for a hundred million dollars. Right when they sold it, they went and started the same thing, then they called it Shop Talk and they did it for commerce. And they sold that for over a hundred million dollars and they sold both money twenty twenty and Shop talked to two different publicly traded companies. So all these numbers that I'm saying you can actually go and look at the numbers and, like, verify the acquisition price as well as the revenue.
39:37
Now
39:38
I noticed that one of the founders spun off and he's doing a different thing called, like, the fintech meetup or something involving fintech. And then the other guy is doing one called health. It's
39:48
pronounce health. It's spelled h l t h dot com. And he's doing this. A trade show business for health care.
39:55
And they're basically doing the same strategy every single time. And if you go to all three of their of their conference websites and you click the about page, They have these really cool cartoons about
40:06
cartoons
40:07
instead of like head shots of each employee. They just do cartoons. They've done that for every single about page. So they're more likely than not, like, hiring, like, the same people, the same graphic designers, the because they're not compete. Yeah. They're not compete probably says, like, Look, you can't create anything in the fintech space anymore. You can't create a thing in the commerce space anymore. And they're like, alright, let's do health. Let's do this. Let's do that. And it's so interesting that they're getting into conference and trade show businesses as opposed to software and they've crushed it. They are crushing it. And they don't raise money. And they just like it's like every three years they start something and sell it for a hundred million dollars and it's the same thing and they've done it two or three times now. Isn't that crazy?
40:47
This is amazing. You've done it again, Sam. You have done it again, dude. I love these. In fact, I remember you telling me about money twenty twenty a little while back because you've always been interested in conferences, trade shows, businesses from the hustlecon days.
41:00
And, I remember every time you told me about these, I was like,
41:03
sort of consistently blown away as to how much money these make.
41:07
Now what do you think is the playbook to do this? Cause, like, for example, Well, this is kind of in transparency. We've talked about this with the milk road of, like, dude, there's a lot of, like,
41:16
there's a lot of money and there's a lot of moving parts to, like, people who are, you know, have some interest in this, whether it's, like, Wall Street people kinda wanna get educated on this stuff,
41:25
you know, insurance, you know, let's call it, like mutual funds, hedge funds, bankers, whatever, and then there's like crypto people, there's VCs. There's like, all these different people who are, like, professionals,
41:35
and there are tons of conferences. Right? So it's it's not like some uncompetitive space.
41:40
But what are these guys doing that's better or different? Cause I don't believe most conferences businesses are scaling this fast or selling for this much. What are the what's this guy? What are their what's their playbook compared to how most people do it? Do you know?
41:54
A little bit. So the misconception with a lot of these make some conjecture. Make some guessing. Cause, of course, you don't know exactly. And I've tried to, like, deconstruct it just based on the outside, but so the misconception
42:04
about conferences is that you need cool speakers and people come to watch content.
42:09
And as I've studied these guys and read their quotes and figured out exactly how they do it and I ran a conference business that made millions of dollars a year, I've realized that the real money, like the twenty, thirty, forty million dollar a year money, it's not necessarily a conference. It's a three day transactional
42:25
event. It's you you are creating eBay or you're creating,
42:29
Main Street with stores on the on the street and renting it out. You're creating that, but it just so happens that's gonna happen in three days. So years where the business is gonna happen in three days. And so what you have to think about is your
42:40
your speakers
42:41
are just the bait to get the right people to come and then once a certain right people are coming, the rest of the right people will come, and they're justifying all of it in the they're justifying all of it by a couple things. The first thing They're justifying it because they say, shit, our competitor is there. We have to be there. So that's like a really big thing. And so I've talked to my friend,
43:06
who runs Blackworks, that other crypto media site, and they have this huge crypto business. And he was like, man, it's pretty crazy. Like, if blank company is coming other company is like, oh, we gotta come and can we, like, get a better boost in them? And so that's like a really common thing. But the second thing and more logical thing is
43:22
Alright. Look, if we're gonna buy this hundred thousand dollar booth, we gotta close all these deals. Who's, you know, what shot colors are gonna be there, and we have to do a really good job of making transactions happen. That's the really big thing is you have to realize that this so there's this guy named Sheldon Adelson. Do you know who that is?
43:37
Yeah. He's like the,
43:39
Vegas Ceno,
43:41
guy. Right? Or is that his cousin? Yeah. He's a mean as fuck old billionaire. He's, like, known for being, like, a huge asshole. And he's worth, like, twenty or forty billion dollars a month. Lookin' guy?
43:52
Yeah. Like, he's, like, looks like this. And he, like, thinks that, like, weed is, like, the end of the world. And so he, like, buys,
43:58
all these ads about how, like, weed is. You remember, like,
44:01
those commercials, like, Julie used to care about stuff. Now she just smokes weed all day. And then, you know, like, it's, like, it's, like, someone This is your a. This is your brain on weed. It's, like, cracks it down. Yeah. It was, it was, like,
44:13
it was, like,
44:15
they used to have these commercials with, like, there's someone, like, melting into the couch, and they're like, she used to go for runs all the time. Now she just sits and watch TV. It's like, anyway, He's like a huge anti weed guy. And so but he's just like ninety year old guy. I think I forget what he owns, but it's like the largest. He basically Chris guy definitely just had, like, a bad weed spirit. He's, like, definitely smoked weed in college and, like, Peter's pants got made fun of Ford. Like, there's gotta be some deep rooted, like I looked it up. It's angst. What is it? So the it is serious. His kid, I think, became a drug addict, and he, like, thought and this guy, like, group weed in a in into the same as all that other bullshit, which is not which I think is crazy. But he basically started,
44:54
this event called ComDex
44:56
which eventually was acquired for a billion dollars by SoftBank, and it be and it became,
45:02
what's that thing? The consumer electronic CES.
45:05
And I read, I would read all these old articles about them, and he goes, you know, you're in the conference business and now you're in the real estate business building up Las Vegas What are you doing? And he goes, well, the conference business is the real estate business. What I learned early on was I gotta get people in foot traffic to my event And then I'm just selling real estate at a crazy high square footage, and, it's the same thing. And so that's why I'm into real estate now. And he basically built up all these hotels. I forget all the casinos he owns. The there's like three big biggest casinos and he owns one of the biggest one. And, anyway, So these events
45:38
are rooted in, like, real state and foot traffic. And so that's really how you do it. The second thing is it's gotta be b to b. Of course, a fucking TED Talk is like the coolest thing out there, but, like, you know,
45:49
people coming to, like, hear talk about why sleep matters or, like, how to cure malaria. That's unfortunately not where the money is if your name is anything but Ted. So if you're anyone else but Ted, don't do these like sexy things do boring ass b to b. We're here to get some deals done and we're gonna sell you some shit. You know, it's a bunch of a bunch of white dudes with
46:10
tight blue jeans and like those brown leather shoes and tucked in collar shirts. Just like, you know, sales bros. That's what that's like where the money is.
46:17
At least forty percent of participants must have a tucked in button up shirt,
46:23
or polo.
46:24
And, you know, like half the jokes need to be about their wife
46:28
you know, like, something something complain about their wife. And then, like, if you said the old ball and chain, you'd get, like, a default smirk from anybody You know, like, their badge needs to be, like, you know, semi tucked in under the belly. Like, that's who you need at these conferences for this to work. Yeah. And if you don't have a tucker in your crew, you're out. You're just you're not part of this. You have to have a tucker and your crew.
46:49
Right. So There's like a dog, like, a bomb sniffing dog. That's just looking for tuckers. In line. Yeah. It's like, gosh, not enough tuckers in this in this queue. Shut
46:57
it
46:58
down.
46:59
Yeah.
47:00
So that's when it's This is German Shepherd.
47:05
That's that's where it seems the money is.
47:08
Is like joining these,
47:10
industries that are fast growing and making it a a real state, thinking like a real state person.
47:16
And how do you, how do they go get people to go buy these like, I'm I'm assuming they're basically selling, or is their model you sell tickets for a couple thousand each and then you sell sponsored booths for, you know, tens of thousands each.
47:30
Something like that. Is that the model?
47:34
I think what they do so I went and looked at their revenue. And so the revenue in year one is like two or three million and then in year two, it's like twelve and then year three, it's like thirty. So based off of that and it's a bunch of marketing materials and as well as their headcount on their about page, I think what they do is they a just give away a bunch in the first year in the first year. You're just trying not to lose your shirt.
47:58
And I also think that they when they sell
48:01
sponsorships,
48:03
which are actually
48:05
can be easier to sell for these things. They like only give away x amount of tickets and for the rest of the people to come, you have to purchase it. And once you get a certain
48:13
amount of sponsors, it's kinda like we used to host we used to host events and we would purposely have like as many speakers as possible because each speaker would bring like ten people. And so I think it's kinda like that where each sponsored company automatically brings a small crew
48:27
and that is how they actually do it. And because they don't and they spend a lot in marketing though, and they based on their teams, they have digital marketing. You know, that Spider Man meme? The Spider Man, where they're all pointing at each other. Like, yeah. Yeah. Spider Man, it's that. But just sponsors at the booth being like, buy my buy my thing. No. Buy like, you buy my I'm here to sell not to buy.
48:48
Yeah. It's a it's a circular economy of just like, you know, buying buying one another's crap.
48:55
But, anyway, it's kinda cool what they're doing. And
48:59
I think
49:00
this business
49:01
I think events can be a headache, but There's a way that you can build it.
49:07
What?
49:08
What I would do, by the way, if I was international, I would study these guys, and I would do the exact same thing in Europe. I would do the exact same thing in Australia. I would do the exact same thing in India and in China and in South Africa. Like, wherever you are, there is a version of this that can be built locally.
49:23
That is not going to be
49:25
competitive with these guys. Basically, like, this is a clonable template in my opinion. I'm sure it takes good execution. I'm not not not saying that. But I think this is a business that can, like, generically work in other markets,
49:36
either other vehicles or other countries.
49:39
There can be more than one winner. You know, like you can go to more than one conference a year. And so it it's not a winner take all business. So it's kind of interesting. And interestingly,
49:49
All the companies that have bought these guys' companies have been European.
49:53
And I looked online about what they were doing, and
49:56
One of the big things that they are doing was at first of all, they've gotten really good at selling.
50:01
So they host the event in two thousand twenty two and and the end of two thousand twenty two, they already have a ninety percent of the revenue for two thousand twenty three because you sell the you upsell the people like right away for the next year and you could sell multiple year the second thing that they're doing is they're starting to charge money for online communities.
50:19
So, like, alright, you met at the conference. You can keep us up and, like, and so they're doing online communities. And that's one of the reasons that's the business, one of the business I'm interested in, and that's why I've been studying this and figuring this out. It's just this is a super fascinating thing, I think.
50:32
It is. This is great. I I really like this one.
50:35
Anything else on this? Otherwise, we could do another topic. No. I don't
50:39
I fucking I just So I have I have so much stuff backloaded by the way. And I know I spent, like, half of forty minutes of this podcast just being, like, the mentality of a downturn. But, again, I think it's the most whether you're an employee,
50:53
you're a employer
50:54
or you're an investor, like, nobody is gonna be spared
50:58
from the economy going into a recession to stock market tanking and the crypto markets tanking and global inflation. Like, this is like,
51:06
you know, like,
51:08
you like, Oprah comes out and she's like, you know, you get a disaster. You get a disaster. You get a disaster to everybody. Like, nobody is gonna be untouched by the effects of this. Some people are gonna get hit to the point where their business goes under. They declare bank personally or in the business, whatever. Right? That's gonna happen. But I don't see anybody getting untouched by like a
51:28
stack of problems like that. Man, when I remember when there Biden was saying that Putin was gonna evade,
51:34
invade, Ukraine,
51:36
and, I was, like, reading about Putin and listening to Ben's podcast how to take over the world. And I was like,
51:42
Hey, Putin. Why do you why do you wanna fuck this up for everyone? Like, things are pretty awesome right now. Like, What are you thinking? Like this I that that's just the conversation I wanted to have. Like, you know, like, Putin, like, everything's pretty pretty good. What what what it like, you're gonna blow this for everyone. We're all gonna get screwed.
52:02
And that's, like, the conversation that I've that's, like, the kid in class who's
52:07
the getting class who raises his hand. It's just like, hey, miss. You forgot to collect the homework.
52:11
And it's like,
52:12
dude, what are you doing?
52:16
Are you checking? We are seven minutes away from getting out of here.
52:21
Dude, do you buy okay. So this is, sounds like a very, like, yuppy asshole thing to say, but I don't really look at gas prices because they don't drive that much. But, you know, it's just, like, it's I gotta buy gas and it's not gonna hurt me however much it costs I'll buy it. And, I was driving up here from Austin to Brooklyn where I'm living now, and I was listening to the news and you're talking about gas prices and I was like, oh, shit. I haven't even looked at the gas prices while I've been driving up here. I I wonder what it is. And it was like five fifty, and it was crazy. And again, I know, like, what the news was saying, but I just wasn't looking because I don't drive that much. What's the gas in California where you are? Are you paying like six fifty?
53:00
Seven dollars a gallon. How the fuck are normal people
53:04
Doing this. That is crazy. That is crazy.
53:08
Seven dollars.
53:10
Yeah. When you said five fifty, I was like, wait. You're saying you found a good but you were trying to say that's a bad deal. Right?
53:16
I thought that was real. I mean, I haven't lived in California in two years. I remember in California, it was five dollars. But But when it when is it in Austin?
53:23
Dude, I don't even know. I just looked in like West Virginia when I was driving up here. I I don't pay attention to gas prices. I don't drive that much and I just don't I'm buying it no matter what it says.
53:32
But, like, seven dollars, how this is we're we sound like fucking fools right now. How much Gas is a car tank. I don't even know. Like, I mean, it would cost, like, a hundred and fifty dollars, I guess, to fill, like, how big is the tank? I don't even know. Yeah. I drive an SUV, so it's, like, you know, twenty gallons, basically.
53:48
Alright. Jonathan says stop four four fifty at Austin.
53:52
Dude, so you're spending a hundred and fifty dollars to get gas.
53:57
Yes.
53:59
Yeah, it's bad. But, you know, asking for a friend, you know, like, okay. I got, like, a, you know,
54:04
card that says, like, you should use the good, you know, pay the most on when you go to the gas station, like, pick the pick the top of the of the three options.
54:12
Like, let's just say What do you drive? What's your SUV?
54:15
I got a BMW
54:17
x five. And so it's like, let's say your boy's been, putting the shitty one in for a while. Like, you know, does this matter? Is this is this, like, marketing
54:25
or, you know, like, do I pay some price later in life, or do I pay some price now? Like, I actually never really knew how big of a deal that is. Like, is it pretty strict?
54:34
I don't know. I but
54:36
your pay, it's Sam I think I feel like you know that.
54:40
I don't know, but I'm gonna be honest. It doesn't sound great. It doesn't sound like that's what you wanna be doing. To me, I'm like, you
54:47
know, is that this seems like a recommendation, not a rule. And, you know, so I've been going with the, eighty seven, whatever that stands for instead of the, like, ninety or whatever, the the top end gas is. And I've just been like, so okay. So
55:01
The most expensive thing is I'm just like eating McDonald's.
55:06
The most yeah. I don't even know what the yeah. It's basically around seven bucks, seven bucks a gallon. I think it's I think that's kind of the top.
55:13
Oh, my god.
55:16
That's crazy. That's that's wild. So every eighteen miles is seven dollars for you, basically.
55:23
Yeah. I don't know. I don't even think about it. Like, it is what it is. I need to get places and, like, that's the cost of cash right now. Like, what am I gonna do?
55:32
I'm not gonna drive Virginia and get gas.
55:34
I'm not gonna not drive around, you know, like, I do did go places. And so, you know, it is what it is.
55:40
Of course. It's not a big deal for you, but
55:43
you remember how we were talk we were talking about how the economy was crushing for years and years, and I've got so many friends that they're like, man, I've got I've been in in my apartment for a year and a half for two years. I've got a money burning hole in my pocket. Like, I I I haven't bought anything out. I have I have all time high savings. I'm ready to save and All these people are quitting their jobs because they're like, f that. Like, I get these checks. I've saved up money. Like, I'm not taking this thing.
56:07
At seven dollars a gallon, like, people are just gonna run out, I guess. Right? I mean, like, you're just gonna run out of savings.
56:14
A huge amount of people. Again, you
56:17
again, you gotta cut back. Right? So, you know, I back down to that low end gas. So I could, you know, save the thirty, forty cents a gallon. Are the people just gonna drive less? They're gonna say public transport or they're gonna carpool or they're gonna find something, like, people will find a way is, you know, my mental mentality.
56:32
And, like, I don't know. I spent a lot of my life living in, like, Jakarta or, like, Beijing. And you just see people, like in Beijing, right next to our house, there's just people just shucking corn, like, all day in a They're just sitting in a squat
56:45
just like removing husks from corn
56:48
for, like, ten hours straight in the heat. And they were just, like, you know, and then they would, like, take their break, smoke a cigarette, and play some mah jong, and, like, you know, like, that's just what they did, and they were fine. And then, like, your driver had different set of problems and, like, at Jakarta, they're, like, in India, people just burn trash on the side of the road because there's no, like, waste removal thing. So they're like, you burn it, and then it's gone. Like, yeah. But, like, it smells awful all day.
57:11
And, like, what are you talking about? It's just, like, how air smells. I was like, no, no, man. That's not how air has to smell. But, like, You know, I don't know. You the the range of how humans can live survive and thrive is so much wider
57:23
than, like, you know, the average person thinks.
57:27
And so I don't know. Like,
57:29
I don't know. I just don't really pay too much attention. It's just, like,
57:33
You have to, like I don't know.
57:35
You just have to, like, kinda figure out how to govern yourself in a new world. It's like, do are you a self governing individual or not? Because, like, if you are not a self governing individual, every day, you're gonna get punched in the face with bad news right now. And, like, you gotta learn how to parry punch. Otherwise, you are gonna get, like, knocked out by just taking most shots to the nose every day.
57:56
Like, I just got done. I was in Missouri for two weeks Most people aren't like that. They're just like
58:02
they're most people are not that resourceful.
58:04
That's what I've I've learned.
58:06
I I actually think that that our audience is like that. Most are not like, oh, I gotta go start something. I gotta do this. I gotta
58:13
I think most people will just are are just gonna be fucked.
58:17
That's I mean, that that's really what I think.
58:20
So so I'm writing the book right now. I don't know if I'll tell you this. I'll write write the book. I'm using that, like, scribe media thing where you'll be, like, write the book for you or whatever. Is it awesome? Content. They just they write the words after you say it to the guy on the phone for, like, two hours every, like, week or something.
58:33
I don't know if it's awesome. I'm loving doing it because I'm like, Oh, cool. I get to, like, put something down on paper. Like, this is fun.
58:41
And I'm not gonna, like, sell the book. I'm gonna do something different with it, but whatever. So, basically, point is,
58:46
the start of my book is that,
58:50
everybody wants the same things. Like, everybody wants
58:53
to be, like, wealthy. Everybody wants to be, like, in great relationships, great family, and everybody wants to be, like, in, you know, great shape.
59:01
You look at, like, okay. Cool. So, like, if everybody wants that and that's all achievable, then certainly, you know, like, most people are doing that. No? Okay. Half people are do it's, like,
59:10
Most people have the exact opposite of that result.
59:14
Most marriages are ending in, you know, unhappy or ending a divorce. Most people in America are are, you know, overweight or obese.
59:20
And most people don't have, like, you know,
59:24
more than ten thousand dollars of savings to the bank or whatever for, like, a rainy day. And so everybody wants the same things. Everybody wants to be, you know,
59:32
you know, rich fit and madly in love. And in fact, everybody has the opposite. And so, like, if if you think like most people think you're gonna do what most people do and you're gonna get the result most people get, and the sad truth is that the results most people are getting are not very good. And, like, I
59:47
so that's the start of my, like, that's the premise of my book. And,
59:50
that's the start. And then the the the second part of of
59:54
I guess, like, I would say a controversial thing about me is, I am totally okay not taking into consideration
01:00:04
most people's
01:00:05
situation.
01:00:07
I am told so, like, for example, I always I I it sounds like a asshole thing. I understand. I said it. It put in a
01:00:13
purposely provocative way. Right? I did not wanna soften that.
01:00:17
What do I mean by that? Like, I always talked about, like, oh, I love to teach, and I wanna be a teacher
01:00:22
So most people see that as, like, some, like, mother Theresa, you know, like, sort of, like, save the world, like, be the educator who helps all. I'm, like, no. No. No. I do not wanna try to educate everybody or teach everybody. I'm like, most people are horrible students. They don't wanna learn anything. They're not gonna really learn anything. They're not gonna do anything with even if you told them the exact right answer or how to think. They're just not gonna do it. So, like, why would I waste my energy doing that? Like, no, no, no. My preference is, like, in a in a population of a hundred percent of people, there's, like, three percent that, like, really want to know the answer. And of them, maybe, like, twenty percent of them are gonna be able to actually take action on it. Like, I'm only gonna try to teach the driven and motivated and capable.
01:01:00
Like,
01:01:01
and that is not a, like, society like, socially acceptable point of view.
01:01:06
But it is my, like, operating
01:01:08
philosophy
01:01:09
is to, like,
01:01:11
myself, I focus on the controlling the things I can control and not other things. And secondly, like, even when I'm, like, talking about what most people should do, I know that most people are not gonna be able to do that or want to do that or choose to do that. That's okay. I'm not talking to most people. I'm talking to the one to three percent of the population.
01:01:27
Who, like, wants to thrive in those ways.
01:01:30
And,
01:01:31
I hope everybody else listens to it and says, this guy's a jerk and, like, does so out of touch. It's like and they leave. They leave my orbit, and they unfollow me completely because I'm like,
01:01:43
I I am trying to be intentionally out of touch. In the same way that I intentionally avoid the views.
01:01:51
That's hilarious. It is it is at my part of my core strategy is to be out of touch and avoid the news. And, like, not
01:01:58
not not learn from or speak to the common denominator of the population And I I know that all of that sounds
01:02:05
completely awful to some people. And,
01:02:09
But, you know, I'm okay with that. Like, I I I do believe even if you disagree with that,
01:02:14
I hope you agree that, like, I'm allowed to have that choice. To to do that. And if you don't think I have the choice to do that, like, you know, then I disagree with you and all of your your ways of living.
01:02:26
Yeah. You're like, if you I get that. If if you don't if you don't think that my opinion is good, I get that and you're fine, but you're wrong and I hate you.
01:02:34
That's basically what it is. If you if you think my opinion's wrong,
01:02:38
if you think my opinion's wrong, I understand. And I I would expect that from a lot of people If you think I shouldn't be allowed to have my opinion or to act on my opinion,
01:02:48
that's where, like, there's a difference between I disagree
01:02:52
And that's not allowed or that's not okay
01:02:55
or no. You can't do that or, you know,
01:02:59
lynch him, you know, like, there's a there's a difference in, like, being able to disagree and disallow.
01:03:05
And I would say you're, you're, you know, like, I don't need to get a little far with the ledge. Yeah. They're gonna kill them.
01:03:11
Yeah. Lynch them. Yeah. Yeah. Yeah. That's that's probably a bit bit harsh.
01:03:17
Alright. That's the pod.
01:03:18
We'll see if people,
01:03:20
dig it. I, dude, what if tomorrow, it just goes back to normal?
01:03:24
That would be nice. By the way, if if you wanna cancel me, I hope people get our voices mixed up, and this has been Sam talking that whole time.
01:03:33
Why this voice you hear is Sam.
01:03:36
I think they're saying that you p a r r. Yeah. You can find him. He's a there's affiliate HubSpot if you wanna go get them. Like, that's the guy to go get if you didn't like what was just said.
01:03:48
Dude, I still get people messaging me saying that they they they confuse us still. I don't understand that. I guess I think they're People go watch the YouTube video. They're like, shit. I've been had you guys opt mixed up for, like, a year?
01:04:03
I I think what they're saying is I look beefier, but I talk nerdier and you look nerdier and you talk beefier. So
01:04:11
It is what it is. You you look dumb and you talk smart, and I look smart, and I talk dumb.
01:04:19
Alright. We'll talk soon. Peanut butter and jelly, baby. It's a perfect combo. Yeah. Alright. I'm ready.
00:00 01:04:42