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Kind: captions Language: en we have to make goals and we have to make them and you have to decide and start acting on them before January 1st doing goals on January 1st is weak that’s nonsense [Music] what’s up we got a great episode we’re doing um a crazy AI tool but my favorite new AI thing kind of mind-blowing Sam you gotta admit that was pretty mind-blowing correct it was awesome uh I just signed up for the waiting list and I hope they’ll actually let me on but it’s amazing so this is this one’s this one’s mind bending uh we also talked about arbitrages so kind of like money making Arbitrage schemes that either us or our friends have done uh that was a little fun one uh what else did we do we talked about setting goals so what the New Year’s gonna happen in like four weeks so we think you should start your goals immediately and we talked about our categories for goals and then we also talked about Twitter so there’s a bunch of drama going on Twitter with pipe happening this company that’s potentially gonna go bankrupt and a few other things happening in our lives about getting fights on Twitter and whether we should react or not it’s kind of gossipy but I love that so that’s the episode check it out all right what up we’re back enough of this holiday enough of this holiday nonsense I was uh I was Thanksgiving it was easy Ethan came over you know you know our friend Ethan uh I don’t know if you know Ethan but he came over and he killed a turkey and he brought it over pretty great did you bring like a carcass in no he like I don’t know how they kill it actually I think they just chopped their head off and then he plucked it and brought it over and we ate a turkey it was awesome have you ever done that uh no I mean come on what are we talking about here I don’t know I know you have you have idiot Roots I would have thought that like your parents your parents have probably killed the chicken or two if we want to do Turkey this year um we all had like a moment we looked at each other like yo turkey sucks right and then we just decided to go with chicken but uh nevertheless we’re back uh you have some stuff on this list that I want to know about so I want to start with yours all I see is just a call to action it says need to start working on New Year’s plans now in all caps get these implemented so dude you’re like my thing you I think that starting a New Year’s thing on January 1st is kind of the most small boy thing you can possibly do it’s like could you be more basic just if you have an idea start it now why are you waiting yeah yeah like at at the worst you have to start at December 15th and I’m a big fan of goals I write goals I write my goals out I tell them my wife what they are and so like we’re on the same page I tell other people what they are you gotta have goals and I break them out into six categories how does the wife react you just say my goal is eight percent body fat she’s like all right okay dude the fit itself women don’t give a [ ] we’ve talked about this ripped the only people who care about being ripped are other dudes so like I’ve given up trying to do other ripped guys yeah I’ve given up trying to like make my wife like me physically like any more than she already does that will never happen so you know the fitness thing is for me and impressing other men so that’s all there is to that but I have so the first three categories of the three F’s family financial Fitness and then mind adventure and other so let me give you some examples so uh Financial that’s easy so how much money you want to make you want to make money from different projects things like that family for us it’s like you know like for me like I like going to couples therapy do you do couples therapy no never dude you should it’s awesome it’s just like it’s just like Fitness doesn’t matter if you’re ripped or not ripped like you exercise you got to do it you know my wife is old school she thinks like you know she’s like yeah therapy’s great other people should do it but my suggestion it’s like oh you’re saying we’re broken yeah she’s like everybody’s great for freaks you know like it’s really so supportive of other people doing it but if you dare mention that I will take it as a personal assault yeah you should do it it’s awesome it’s a fun way it’s also uh it’s just good I I think people should do it Fitness is easy that one’s easy but then mind so for mine it’s like how if you want to read books throughout the year um for me I wanted to have more fun this year because I was pretty uptight leading up to it uh up to this year and then the fifth category is the really fun one which most people don’t have which is Adventures so for me I wanted to do like a car class like a driving car class I wanted to go hunting uh I technically I didn’t do that but I did go fishing uh I wanted to um Camp a couple times fishing hunting does it is that the same thing I went to Whole Foods they’re not the same thing I wanted to look something in the eye kill it and then put it in my mouth that’s that was the goal I wanted to kill something and then consume it and I was unable to do it with an animal that wasn’t you know that was on land um so anyway these are my six categories are you gonna do that this year are you gonna create some categories do it I do it a little differently but I have a very similar it’s the same idea it’s just a little slightly different frame but I do basically I score myself health wealth um so what is it health wealth fun or like play is kind of that one and then love and then the last one is um it’s like self-respect like how do I view myself and so those are my five categories and I basically say on a scale of one to five where how would I score myself currently the present moment and then what would it take to be to feel like it’s a five what would make me feel like it’s a five and I start to sort of dream that up okay yeah if this this and this and then what I do is every three months I just go look at that scoreboard and I say have I made progress on those like have any meters moved up or down my check engine lights I gotta see if there’s an issue I gotta address it if there’s if I make a positive progress all right fantastic what was your self-respect number this year self-respect was pretty high was a four and um four out of five so pretty good yeah that one used to be lower so like I added it because I was like you know all these things are pretty good something feels off what’s missing and I go I think I would respect me more if I was doing some things a little differently so I added that I go you know I don’t really care you know that’s the one I care the most about basically you know my my self-esteem my my judgment on myself and um and it’s the truest gauge because like even if all the surface level stuff looks fine it’s like only I have full evidence of of the little [ ] that I am and only I see all those moments where I take the shortcuts or where I lack the discipline or where I choose the small boy path instead of doing something more adventurous so only I know and so that’s why I decided all right I gotta I gotta add that to the scoreboard this is the most broy thing ever but on Joe Rogan’s podcast uh guy Richie you know guy Richie he directed like snatch and of these other movies yeah he uh he goes I live life as if I’m the director of my own movie and he said that line and it was awesome that’s a really cool line and so that’s why I created an adventure category because I’m like dude I’m such a [ ] I just sit behind my computer all day like I don’t do anything like sick like I’m watching this James Bond movie and he’s like blowing [ ] up in an Aston Martin I’m like this is way so much cooler than having like a Shopify store like I I need to I need to do more adventurous stuff and so I think it’s good that we both have Adventure or fun you got to call yours the uh the four F so family financial fitness and fun that’d be way easier to remember and then self-respect yeah system [Laughter] I actually was uh I don’t know if people would be interested in doing this it’s not really like it’s not really like worth my time but I kind of want to do it anyways which is like I want to do a it’s not a course it’s like a what do you call it when it’s like um like Michael Jordan used to do this where in the mornings he would go work out at 5am or 6 a.m and he called it The Breakfast Club and he was basically just like like he started doing it alone and then some guy saw him like walking through the hotel that you know some guy came back from partying and saw Michael Jordan go into the to the gym he’s like what are you doing Mike he’s like oh yeah I work out every day at 5am you should come be here tomorrow and then the guy came and then slowly but surely the whole team ended up going to The Breakfast Club and they had a great year they won the championship that year and I kind of want to do that for kick starting the new year which is like first of all We’re not gonna do it January 1st but I just want a batch of people who all want to like level up in their you know their four F’s basically dude I’ve thought about this so just be like yo it’s a group and we’re just gonna be here we’re gonna be together for like 10 days or 21 days or something like that it’s like we’re just going to get Hella momentum off feeding off of each other’s like progress and energy and it’s just literally going to be a like uh you know you put in I don’t know like 100 bucks and you join this group chat and then I will every morning I will drop kind of like um something that’s high energy to spark the group and then you just check in with your [ ] and it’s just a momentum Club it’s just for people who want to build massive amount of momentum um so I kind of want to do this I actually really just want to be a member of one but I don’t think this exists so therefore I think I might create it and I might kick it off like you know whatever December 15th or December like 20th or something Have you heard of 75 hard of course yeah that’s yeah that’s the inspiration for this this guy’s crazy so his name’s I don’t know his last name Andy f i Andy frisella so he basically has like a a supplement company and if you look at the podcast charts this week you and I were like number 12 or 13. this guy’s always like number two or number one so he’s got like a pretty big following and he’s he’s I think it’s a daily podcast so he does a pretty good job there but he started this thing called 75 hard and here’s the rules if you skip a day you have to start over if you miss a task you have to start over at day one you have to pick a diet and follow it and no alcohol and no cheat meals you have to drink a water a gallon of water a day complete two daily workouts one of which uh two daily workouts that are 45 minutes each one of each one of which has to be outside read 10 pages a day of a non-fiction book and take a progress photo every day and you have to do that for 75 days uh and he’s killed it if you look at the app downloads it’s like 10 bucks for five dollars or something for the app there’s thousands and thousands of reviews he’s totally turned this into a movement he’s done a really good job at that yeah yeah that’s I think that’s like the a plus version of what I’m talking about mine is way simpler because I’m not trying to work out twice a day and like you know carry a gallon of water around or whatever it’s more like what is one simple thing I can do just to create momentum because I think most people most people assume the answer is so hard that they literally just do nothing right it’s like if you’re not working out you don’t need a workout plan you need to walk to the gym and like be in the gym for five minutes ten minutes so do all push-up like like just a full a Sensei forward progress and uh and and more than anything usually it’s like especially with the New Year stuff it’s like figure out what even what even do you really want like do do you have enough Clarity in what you really want where it’s like on the tip of your tongue and therefore your brain is recognizing opportunities to achieve that thing all day right if it’s not on the tip of your tongue then your brain’s not going to be seeing it and you know seeing those moments or those opportunities for it to happen I’ll give you an example of one of these like my trainer so I move my workouts to the morning so now it’s great I start my start my day wake up literally go down to the garage um 8 am so at 8am is the start of the workout so I do that right before I do this and he always gives me these little stories but I turn them into games so he’ll be like dude on the way over here he’s like he’s like I asked myself you know he’s like I was he’s like I stopped at Whole Foods or whatever and this like old lady like clipped my achilles with her cart and my initial reaction was to be like what the you know like he was yeah it’s like if you get you know flat you know flat tired in the back with this car it’s like dude you know watch what you’re doing you look he’s like look back it’s a grandma I had to laugh at myself for how mad I was gonna get for nothing and he’s like so I decided I was like all right before I leave Whole Foods I gotta reverse the karma I’m gonna light someone up today he’s like I’m gonna make somebody’s day right now like somebody is gonna have a laugh because of me because of how you know I was in this mood I’m gonna switch it and um and so then he tells me the story of how he did it and I’m like that’s a great little daily chat like one daily challenge for me today I’m gonna light somebody up today and I’m gonna make their day I’m gonna make them laugh I’m gonna do something unexpected that just makes somebody really really happy and then I took that as my Challenge and like by by noon I had done it and I was like that’s just a little thing that wasn’t gonna happen but it was a lot of forward momentum towards something that I personally care about which is being that type of dude being that type of dude who’s in that type of mood who is contagious with other people when I hear Light someone up I don’t think make their day good I think the opposite well yeah there is like a we’re not playing Halo here or whatever light them up like you know brighten their day I feel that well I think that’s good let me know what your what you’re how you’re gonna organize this well now that I said it I feel like I have to do it this was an idea that I was not gonna do until uh I just got rope-a-doped into doing it here on the Pod but okay we’ll do it um okay do you have anything else on this new year thing that you want to talk about no I just think that we have to make goals and we have to make them and you have to decide and start acting on them before January 1st doing goals on January 1st is weak that’s nonsense that’s nonsense we can’t be doing that you know we did a a Spartan Race I think together but that one and Tough Mudder they do this thing where before you get to the start line like it’s like oh I’m here to do the Tough Mudder race you go you’re trying to get to the starting point and there’s like a wall you got to climb just to get to the starting line and um you know it’s sort of like laughable it’s like stereotypical thing but it’s like yeah but it’s fun but it’s fun and it’s it’s a it’s a Line in the Sand it’s like either you believe that this sort of thing is awesome or you should just leave now honestly if you’re like and I can [ ] about the wall before the starting line well guess what happens after the starting line a bunch of walls and a bunch of obstacles and adversity that’s coming your way and if you aren’t willing to do it before you know to go before go like you know you’re not this is not for you and I just love that like I remember filing that away in the in the mental swipe file of like that’s how you build a brand is you like you think about what would be the way that we would do a starting line do before you even get to the start line there’s an obstacle and um I remember thinking that so that’s kind of like the New Year’s thing to me there’s like the the starting line is not January 1st it’s now yeah whenever I create like you know everyone has this thing where they go I’m gonna eat healthy starting tomorrow and that just says to them like all right I can pick up now but I’m gonna start tomorrow and whenever I think of dieting I’m like no whenever you have the idea to like I’m gonna do this you have to actually start the second you can’t do that same thing and but I’ll be like I was like if I have the plate in front of me I’m like all right I’m already feeling guilty it’s not finish this meal and start healthy tomorrow it’s I have to physically go take this plate to the garbage can and throw it away but first and I take the last bite like I’m a prisoner on death row and this is the last bite and I just Savor that last bite like it is like every particle of that bite is like my heaven and then after that bite I can throw the thing away that’s right you got to start right away so that’s my whole thing with goals if you’re gonna do them you got to start right away what uh what’s this are what do you want to go what’s the most interesting thing Arbitrage that and money quote automatically have me interested okay let me do the money quote real quick uh saw this and this is something that I would say like resonated with me as a lesson for the year right um we all know your boys lost a lot of money this year we know we know what happened we know that the that there there is such a thing as the risk playing out this year and one thing that really stood out was when I read this quote I read it on Twitter and I’ll read it to you by the way how do you feel about losing money are you actually upset uh look nobody nobody likes losing money I don’t like losing the money but the adversity is my opportunity so but do you go to do go to bed do um do you go to bed worried no what’s that gonna do well most people that way I’d be like what’s that gonna do for me and then I would stop okay so you’re you are worried but you’re not that worried you’re sleeping fine so don’t worry it worry wouldn’t even worry’s not even close it’s more like the if there is an emotion that I would feel that’s negative it would be like ah [ ] or ah [ ] right like it’s like well is it out of fear or out of it out of like kicking myself like dang I made a mistake or um so maybe I should have thought like you’re like ashamed of yourself like you’re like you’re just upset that I made a bad decision yeah it’s like oh I you know it’s like if I’m playing ping pong and I hit the ball into the net it’s like ah that was an unfortunate there was an unforced error could I have done something differently could I have shifted my angle slightly could I have taken a little less power on it or whatever right like there are things you ask yourself could I not have read the signs differently or hedged or done certain things in order to protect myself but but do you feel pressured now that you got to go make that up are you like [ ] I put all this work in to get the initial thing now I gotta go and put more time in to go get it back no no because I see this is the good thing about playing being a poker degenerate for so long is like I’ve already gone through that like mental like trap a thousand times so I know how to I know how to get out of those handcuffs like if you play poker you you will on a weekly basis have this feeling of like oh God I’m on a downswing either because I’m playing bad or bad luck or whatever and then the urge is to get it back and I’ve literally been the dude who walks to the ATM at the casino and it’s like would you like to pay the 17 service fee I’m like if I could give it to me and then I like push it I get the get the 600 out and I hit the Max and then I’m like all right I got 600 I’m three grand in the hole and I gotta get it back and then I lose the 600 I’m like well later that night as I’m reflecting in my comped hotel room because I lost so much money which is the ultimate backhanded compliment where they give you a free free room they’re like please sir come back tomorrow we would love to take your money again um they’re like don’t go home you know they’re like as I’m sitting there laying there and I think to myself you know what I shouldn’t have gone and got that extra money I should have cooled off I should have gone with a clear mind I should have uh you know gambled at the right Stakes so that I wasn’t trying to win it all back in the next hand or the next hour or whatever it is so playing poker online and offline you know I’ve done a lot of the rookie mistakes hundreds of times and at some point you realize okay gotta manage my bankroll properly so I can’t go broke secondly if you lose you live to fight another day go clear your head change your state don’t come back and gamble right away uh second like the money you’re playing with now is not to win back the money you just won or lost uh so if you want a bunch of money that doesn’t mean play it Reckless now if you lost much money that doesn’t play play desperate now like you’d have to play in isolation you have to play the odds and you have to play you know the best game you can to try to make positive decisions so you learn that in poker now for me with business or investing that’s all like baked into my DNA because I spent like 10 years doing in that sure all right well and so what about the money quote all right the money quote is this he goes by the way this was I just saw this on Twitter I don’t know who I don’t know the source of this it’s from a book so it says for one thing we usually act too quickly when we’re trying to make money and too slowly when we’re trying to protect our money if you’re pressed to make a decision ask yourself am I doing this to protect my money or to make my money more make more money if the answer is protect you should act more quickly if the answer is to make money you should act slowly and I don’t know about I don’t know if this is true for you I think you’re wired quite differently than me but for me this was um you know like when you’re in a room and you say something and you found that Echo spot and it just bounces on all the walls and you hear it a thousand times because what do you do it’s exactly like when I feel like there’s a moment to make money I act very impulsively quickly I kind of I’ll not put as much thought in research or diligence or patience into making addition I won’t sleep on it because if it’s making money I try to strike while they’re in time and that served me mailed well in some ways but it’s also been the source of many mistakes and then there’s the other side of it when I’m trying to like protect money so for example I’ll tell you in the crypto case right now it’s like I I saw her because we were doing the milk road we started reporting about these like collapses before they happen like the lunar collapsed right before it happened the Celsius one before it happened we put it in the newsletter the um uh the the FTX one and in each case I kind of was like oh let me see how this plays out when The Prudent thing to do would have been act more swiftly and say hey just out of an abundance of caution let me withdraw my money out of this thing or let me place a hedge let me let me do something to protect myself here and I kind of was just like let me sit back and let’s see when the action arrives then I’ll take then I’ll put my my dukes up right and in reality so I’ve learned that for me this is a really good rule of thumb which is if I’m trying to make money that’s the time to slow down be a little more diligent if I’m trying if it’s about if I should if I’m in a protect money mode I should be pushing the action and acting more decisively and quickly because my nature is to do the opposite dude my nature is to do so I’m pretty slow when it comes to money making stuff I’m like no I’m gonna like actually assess him if I want to do this if if it involves like a business that I have to operate or think about I go you know do I want to do this for a long period of time let me actually reflect on this but then when it comes to selling and protecting I don’t I don’t so like if I buy a piece of prop property or something like that and let’s say it’s not working I’m like I don’t care I’m holding on to this if I if I own like some type of uh public Equity I go I just pretend that it like I just can’t sell I’ve never sold a a stock in my life and I’m not sure if that’s actually wise you’ve never sold a stock um never I don’t think so I don’t think ever not one ever meh maybe when I was [ ] around I was like trying to create content for the podcast when the uh when the AMC thing happened and I think I bought 500 worth of stuff and then I sold it when I earned like a 10 return in one day and I was just like [ ] around to like figure out how Robin Hood but that was more experimental but no besides that I don’t think I’ve ever really sold this stock in my life I think that maybe my um wealth manager or like my banker like does like tax harvests uh like he’s like yeah but like me personally I have never sold I’ve never sold a single stock that’s amazing uh wow okay so great you’re wired very well for for Success when it comes to you sold wait but so when you you like buy and sell like equities yeah for sure no I don’t ever do that I’ve never done that in my life I don’t think that’s the right thing to do do you actually think that you’re gonna outperform someone who actually does this for a living and has like 20 billion dollars or 50 billion dollars in assets well either way you’re thinking that right like even if you don’t sell you’re putting your money in assuming you’re I don’t think I’m not trying to outperform somebody else I’m simply trying to make more money I’m trying to increase my rate of return I’m trying to make more money or reduce my losses and so one strategy is buy and hold forever buy good assets and hold them forever and another ass another one is uh Sean wakes up feels a certain type of way and starts making decisions that he shouldn’t be making right like what if I told you that you’re allowed to go start a private business and you’re allowed to go do things like that but any profit that you make what it has to go into this pile of money that you can never touch again unless you want to withdraw the king games but you cannot invest in anything other than this one thing but it will get a 7.5 percent return every single year for the next hundred years would you accept that 7.5 return shoot me in the head why don’t you I mean come on what if I said you can only have white bread and turkey slices for the rest of your wow so you wouldn’t take that 7.5 return every single year dude that is the craziest thing on Earth really than that I’m not saying I’m a day trader but I guess what I guess what I’m saying wait so you I would not want to literally not be able to touch my money forever nor would I would not want to no I mean not be able to make any decisions it’s like Ah that’s okay if I if I if I if I over perform for underperformance not even for that it’s just like what’s the fun in living like that that doesn’t sound fun to me what but in this scenario you can go and start you can go and generate wealth but any like wealth that you make that you don’t spend on things that you actually consume and use for so I can’t invest in startups I love investing in startups you can’t invest in startups it just all your money just goes you’re basically you you you could spend your money how you want in terms of like buying homes or whatever anything that you want to have a cool life but all your investment goes into a thing where you don’t ever touch it and it just makes seven and a half percent a year that is dude do you realize seven and a half percent is that’s basically if over a hundred years that’s what the markets do it doesn’t happen every year you know some years it’s 30 sometimes it’s negative 20. but I would totally take that any day of the week no decisions have to be made you don’t have to worry seven and a half percent doubles every 10 years I put a portion of my money in that right so I have a portion of my money in index funds that I don’t touch I don’t think about but all one of it wasn’t fun that’s my best offer and I’m not giving you a dollar more than 17 you have to admit so for all of our listeners here I actually think that most people might think like you at this right now but can you and if you’re listening you have to ask yourself this but Sean can you acknowledge that the seven and a half intervention what’s that listen listen can you acknowledge that the seven and a half percent is financially the safe and correct move like that will in turn I don’t know how like you know nerd Bankers do the math but like statistically speaking like that is the best that is the best probability to get like a high a good rate of return no I disagree uh here’s why that is crazy here’s why here’s why here’s why um I can take that money and just invest it in my own businesses I can put the capital up for my own business and grow them at a much faster rate I’ve done that multiple times I did that well in this scenario you could can still do that I’m just saying like any profit I can’t take I don’t take money put in my own businesses you’re saying yeah I’m saying you can start businesses but like any you’ll you basically have two you have one account or you have two accounts a checking account that’s just like for your living and then just like an investment count and then you could go and like hey look I’m gonna go and start put a little bit of money into my own privately Health company camps and you can do private Health companies but you can’t invest in anything outside of those things uh yeah so I think that for most people that is the correct answer I think that for me that is not the correct answer for two minutes and most people think they are not most people which is crazy here that’s true that’s true for an above average person like me and everybody says something’s like I’m above average too the average person thinks they’re above average this is absolutely crazy to me because if you just look at like all the evidence here like even no more and I put it into either Investments that I have access to like I think my startup portfolio is going to beat seven and a half percent average I fundamentally believe that so I’m going to put some amount of capital in that like if you’re betting that your starter portfolio or my startup my angel portfolio is going to be worse than seven and a half percent that’s you could say that and it might end up being true I’m not saying it’s not true I personally don’t believe that’s going to be true it has other problems it’s in liquid and there’s other things like that but I think the rate of returns will be closer to 20 or 30 percent and so I’m going to put some of my money towards that I’ll put some into my own businesses I might buy a business or buy a minority stake in other people’s businesses that are growing 20 30 40 a year and again a different liquid different liquidity different risk profiles but like I do think that that is how I would prefer to play the game and I’m okay with the fact that this might mean that I don’t beat the seven and a half percent I’ve you know I’d rather be the hair than the tortoise and I’m okay if the tortoise wins The Tortoise wins but the hair had a lot more fun and I just sort of believe that you know I’m gonna do well financially through my own businesses and my investments that like I’d rather do it the way that’s a little more engaging to the brain then do you have any money and index funds Bogle head or whatever you call yourselves that yeah do you have any money in index funds yeah yeah I do I’ve hundreds of thousands of dollars in index funds I I I think you’re crazy dude the way that I look at it is my privately held companies those generate wealth those generate uh you know cash flow and income and then I only want to focus on maximizing returns in that area and then the whole rest I just put in this thing that I don’t even log into I think that’s a good strategy I’m not saying that’s a bad strategy I think that is a good strategy it is just not the one I picked uh that I that I choose for myself I act I think for most for you you are not most people not actually in the sense that your Investments are good I do agree that they will be great but you are different from the sense in the sense of you don’t get stressed out about things but for most every other person out there I think they should 100 follow my the way that I do things most people don’t have a floating light bulb on their desk do they but I do and if you got this floating light bulb on your desk that you bought because you wanted it to hover in the air you’re probably not the type of guy who’s who’s you know fist pumping about the seven and a half percent index fund that they’re never gonna look at it for 50 years alright then um yeah most four most dangerous words in the English language 401K the stupidest [ ] you’ve ever said I’m going full Skip Bayless on you um uh all right what do you got all right so that’s the money quote uh let me tell you about okay let me ask you a question about Arbitrage this is actually the least I have some more well-researched stuff in this but I want to hear what you have to say about this okay when I hear the word arbitrage I automatically don’t love it this question then the question is what are some of the great arbitrages you or your friends have capitalized on and I asked because I’ve bumped into people and I’ve met people who I think are really good at this your best buddy Jack Smith I think is very good at this he’s very good at identifying arbitrages and I think these are kind of a horrible strategy to pursue for a couple reasons well let’s define what an Arbitrage is an Arbitrage is where you recognize some inefficiency where you almost don’t have to create any value you don’t have to create a product you just sort of recognize that the system is slightly broken you know um like you could buy something over here for X you could sell it over there for y with a very minimal work in between and just pocket the difference and you’re like oh wow that’s amazing that they just didn’t recognize this and it won’t last forever but it you know while it does last you can make hay um what are some arbitrages that you know of that people have done I want to talk about those I’ll tell you one that I did and I’m not proud of it but I think I’ll share anyway so one time when in 2013 I got Poison Ivy and I went to Amazon and I just sent it to you in this chat I went to Amazon and I bought this thing called zanful zanfel it’s a poison ivy cream and it costs around 19 per ounce and I read the reviews and someone said this is the same thing as mean green which is a huge uh it’s mean green it’s like a tub of hand soap that you can clean your hand and it costs roughly 20 cents an ounce and so I ended up creating a website and I called this product it’s juice and it and I bought a vat like a 50 gallon tub of this stuff and it was like a quarter an ounce and I repackaged it and put an itch juice label on it and I sold it as poison ivy treatment and I made thousands of dollars when I was in college and you know and then I shut it down because I thought this is stupid I’m not going to become a uh I’m not going to start a company called it’s juice uh and so that that’s you already did actually yeah I I ended up shutting down I thought it was so stupid but that’s one example of an Arbitrage that I’ve personally done what’s a what’s an Arbitrage that I’ve seen other people do um like I don’t know I think Jack told me about one of Jax told me about a few that he’s done but I think one that he’s done I I I vaguely remember I might get some details wrong here but for a while Jack was very very active on what’s the like Rally Road uh type Rally Road yeah Rally Road or Otis these basically these markets I think he was the number one user yeah you could buy like fractional shares of um unique items so you know like a original box set of Harry Potter or like this rare Pokemon card and so you can buy these Collectibles it was a place to buy Collectibles you could buy full or fractional shares and um Jack was extremely active on these and I thought oh Jack didn’t know you’re such a big collector and he’s like I’m not I’m not just you know thought it was interesting and I just noticed this opportunity and I think what Jack had set up with and by the way with Rally Road you can buy things that are like nerdy things that mostly boys like so it’s like you could own a portion of a 1965 Ford Mustang you could own a portion of a 1977 Elvis Presley last live performance ticket or this rare Andy Warhol painting things that are like pop culture sometimes manly man stuff of which jack is not like a traditional manly man and I’m like Jack he goes yeah I told him about like some Jaguar car he goes oh the Jaguar F1 like yeah I own a part of it and I was like you like that he goes no I don’t know I don’t know I don’t know I didn’t even know what it was I just saw it on a spreadsheet yeah exactly that’s how he is so I think what he was doing was he recognized that these platforms would have what they would call like an IPO or something like the initial public offering where they would sell the thing and it would happen and it’s like this moment and then you could you could bid and you could buy and then they would like then it would start trading and he noticed that like there was just more demand than Supply um for those things and so he created like I don’t know a bot or like a set of human beings that would like go by as much as he could in the IPO then he would just like immediately flip it right afterwards and he extended that I think he had like at one point he had a team of people in the Philippines that were just constantly searching for I hope I could share all this you don’t think this is like uh this wasn’t like a secret right like he was I don’t think he’s still doing it yeah so he had a team in the Philippines that was just researching and they were like highly competent people they were researching eBay and they would find what every like card is trading for on eBay and then they would just scour and place bids to buy below that price and then flip it on eBay and like he just had this like small eight person operation that was just buying and selling these cards no as long as it was under under the the eBay price by a certain margin of safety I think he was doing that something like that and by the way Jack Smith you could look him up on YouTube he’s our good friend he started a company that he sold for 800 million dollars when he was like 29 or 30. so he probably had millions of dollars on these platforms yeah yeah I think she spent millions of dollars on these platforms and uh and so he was kind of doing this at scale and I think he was making a pretty crazy return doing this I think he was making I don’t know I wouldn’t be surprised he was making 40 50 60 Returns on these on these on these uh items and he was like scaling it pretty well and I was like Jack what are you doing like you know uh hey you genius how did you even see this like how did you even see this opportunity why why did your brain even look at this secondly just the balls to actually go for it and like set up this operation and like yeah put a significant amount of money in like God that’s so different I’ve never done something like that on a non-business this is like not a business this is literally just like a Arbitrage and then third like so what you do with your time do you find these like the cracks in the system and just exploit them these edges and I think that’s what he does I think he is like an edge that’s what he does and he just finds edges and then he exploits them sometimes for profit and but mostly for amusement it seems like like when we when I ran the hustle I wanted to have a weekly thread or a weekly column called Jax hacks and he would just talk about all like the interesting stuff that he would find I mean if you would go to Jack’s house he would he moved into this part of Bernal Bernal park because he had a rental that a home that he rented that had a garage and I was like Jack you don’t even know how to drive he didn’t get his driver’s license until he was like 30. I was like Jack you don’t even drive why do you need this and he goes oh that’s what I’m going to keep all my Amazon stuff I was like what and he goes check this out and he showed me the spreadsheet where he would buy 10 to 20 versions of anything that he wanted to buy as small as a razor to a carry-on luggage to a like any type of suitcase to like chocolate to keto products he would buy 10 to 20 of every single one and he he would test all of them pick the one that he liked and then return all other 19. so much so that he had to create multiple different Amazon Prime accounts because they kept Banning him this is how like wild he is he just loves doing these unique crazy things and just like finding the edge finding the best thing and so if you say Jack what’s the best carry-on luggage he’ll say oh it’s this camera bag well why is it a camera bag well because camera bags typically have more volume so this one holds 50 liters as opposed to 48 liters because it doesn’t have like like it like that he does things like that he’s just unique he’s yeah he’s nuts and so there’s that and then there’s other ones that like you know just to give another example I saw this uh I think I saw this on Instagram or Tick Tock or something like that uh this is another example of an Arbitrage that’s why I wrote the word down I’ll go Arbitrage has just cracked me up so somebody has an Etsy store and I think they’re the number one result if you search Mona Lisa or like Mona Lisa photo print or something like that um and the basically what it is is it’s a account that will send you a like printed out framed picture of the Mona Lisa it’s like fifty dollars fifty two dollars I think and this Etsy shows you how much sales a single store has done and this store has done 000 uh sales and so you just do the math you realize this person has made a million dollars selling this Mona Lisa print and then you look at it you’re like oh I think they’re just drop shipping so I think what they did was they just had the top listing for Mona Lisa Etsy either because they were early or they bought it I’m not sure exactly how they got there right I don’t have visibility of that but then as soon as you place the order they just have like a like a zapier integration which just goes to uh like it goes to like you know um what’s it called like the printing website yeah one of the printing sites printful right it goes to printful and it just automatically places an order to your fills in your address um for that print and it has a spread like it only costs them whatever 20 bucks to do the thing and they sell it for 52 and they just pocket the difference I’m looking at them now and uh yeah you know this is another Arbitrage where they’re not like creating a ton of value they’re just sort of like connecting these pipes we had a guy 68 000 sales vintage wall graphics yeah and so I’m pretty sure that they’re just literally like automatically like going and doing a drop ship model where they print they print the order uh through one of these these platforms and they could always do the printing themselves if they want more margin but if you’re just a lazy arbitrager this is a great Arbitrage to pick up and then there’s all these little places where these arbitrages exist and you know I start to think about those and I wonder who are these people that spend a lot of time looking at this and is that worth it now I’ll tell you why I don’t think it’s worth it it’s tempting to do for me for one reason which is there is a sick pleasure and making a bunch of money with a very extremely low amount of effort of just it was your cleverness that that drove this it’s also fun to tell these stories if this is something you’ve done so it’s nice to have one or two of these in a bag of an Arbitrage you’ve done just to have the story I feel like it’s like a badge of honor for for a certain type of entrepreneur and the last thing you know so is the positives the negatives are these arbitrages don’t last for long as soon as they you know get exploited uh you know then the second arbit charger comes by starts doing it and the edge goes away the window of opportunity closes so you’re kind of hunting for a long time then you find something and it’s probably not going to last for a very long time who has raised tens of millions of dollars for a startup that was at one point valued for hundreds of millions of dollars and whenever I hang out with him the most exciting thing that he tells me about is he started a side hustle for fun because he builds stuff and he created an epoxy business you know what epoxy is I think that you use it for like floors or for like if you’re making a table you like it’s like a sealer he has an epoxy business on Amazon that makes him 250 000 per year in profit on very little work and we don’t talk about startups we talk about his epoxy business and that’s like the most exciting thing that they do and I think that for I could name a dozen or so people who are worth nine figures 100 million plus and or people who have made tens of millions of dollars it seems that a lot of people who are worth that they definitely start doing things like this so whenever I meet someone who’s doing something like black hat or gray hat or even totally white hat but it’s like oh that’s kind of lame I I always think like well but that’s oftentimes how the grades start so like most everyone who has made money on the internet like even if you look at like Airbnb like if you look at some of the early tactics that they use even though they’re a great wonderful ethical publicly traded company now like they still did weird shady [ ] in the beginning and I think it’s just a rite of passage when you’re creating cool [ ] is to do like you know gray hat stuff yeah I I don’t think all like I I don’t I I doubt Elon has has you know done some random ass like you know Arbitrage on some dating site or something like that nobody’s done dumb [ ] he still does dumb [ ] like he sells like stupid stuff well there’s that but like I guess what I’m saying is I guess I would put it differently anyone who has done that I’m like you have what it takes like exactly it’s not that everybody who’s who makes it big has done that but everything yeah yeah and um and it has a very high likelihood of making it big it’s just a matter of time until they start to apply their talents into that you know into that realm and like we have this friend who who we met at your thing um Sayed Syed uh who owns wpbeginner and all the in uh awesomeness Corp I think it’s called he probably I don’t know how big it is but it’s probably like worth hundreds of millions of dollars I want I want to get him to come under the Pod so he’s this guy who owns this uh like word press it’s called wpbeginner it’s like a Blog that blogs about different WordPress plugins and stuff and then he eventually went and bought the plugins and he like now is like a plug-in WordPress plugin like uh Mafia like they own everything you could think of and it’s huge it’s a huge thing that he owns and uh he was telling me some stories about how he started and I’m like oh this is just a saved story I’ve heard over and over and over again like something like not like scammy but like you know something like you’re just like doing normal internet marketing stuff like you probably were an affiliate for some product that you thought was stupid but I just made enough money that you learned oh I should actually do this but for things that can last a long a longer time right you know what I mean the uh yeah I think one of his also was like he went and changed his grades he like hacked into the school system and changed his grades or something like that so yeah I don’t know if that was a real story or a fake story but I loved it yeah like if I hear stories like that just like oh like you definitely have what it takes right I can’t find this client info have you heard of HubSpot HubSpot is a CRM platform so it shares its data across every application every team can stay aligned no out of sync spreadsheets or dueling databases HubSpot grow better all right Let’s do let’s do a dead one you got anything else or you want me to do one do one all right so uh do you know any of the details about pipe um I don’t know the detail I know I know what you know when you go from our group chat uh so I don’t know any more than that but kind of a strange situation the uh I guess for those who don’t know pipe was this like cool cool idea basically if you had like subscription Revenue like oh monthly monthly recurring Revenue they’re like look we’ll pay you out if you’re gonna make a hundred dollars at the end of this year if like on that on that subscription we’ll give you 90 of it up front we’ll keep the extra 10 as margin and we’ll like um you know so you could get financing you could get basically a Pay Advance on your subscription revenue and then they on the other side they had like Banks and and you know funds that wanted to buy these assets they’re like oh this recurring revenue is a asset class like real estate like anything else you should be able to buy bundles of recurring revenue for a discount for what it’s worth because they want money up front to use to grow and you want this cash flow and so that was the idea great idea raises a bunch of money gets valued at two billion dollars it’s considered like the like one of the hot like winners pipe was like you know a huge thing and then suddenly it gets valued at two billion dollars after nine or twelve months of existence and like I used it for example like with my fund I was like oh you get these management fees it’s like oh but you could pipe them and have them all right now instead of waiting it’s like oh yeah I’ll push this button instead of wait that makes sense to me and so cool idea now this week for some reason all of the founders stepped down and which is you know generally speaking bit of a red flag all the founders stepped down and they’re like hey we’re gonna hire new people but they don’t have them in place that was the part which was a little bit strange so first it’s strange that all three founders step down at the same time then the strange that they didn’t have Replacements in in Liu ready for it and so people think you know pipe might be imploding I don’t know the story uh anything did I miss anything there well the rumor was see someone tweeted it and actually got deleted I don’t know why but the rumor was basically and this is 100 rumor and the founder actually came out and said no that’s that’s nonsense this is completely untrue but basically uh someone tweeted four people now have shared what happened Pipe Co loaned 80 million dollars to a Bitcoin mining company didn’t tell the board lost it all board fire CEOs CEO months ago they had already sold a bunch of secondary shares and may have taken personal loans out as well which if all those things are true that’s horrible founder has said no none of that’s true other than the secondaries which we’ve made public that we did in fact sell secondaries but just a juicy interesting story that we’ll uh have to wait and see how it turns out I would have thought that you would have known something yeah it hasn’t played out yet uh I don’t know you know sounds like bad news and you know it’s not relevant to me so I I you know I stayed away from it for for doubt but we’ll see we’ll see I’m sure this will come out I don’t think you can keep I don’t think you can keep the cat in the bag and this type of thing um okay I want to read you one other thing okay so I discovered this website that’s kind of crazy it’s called character.ai not gonna lie I spent like 30 minutes talking to a chat bot yesterday and I had a great time so let me tell you what character was it so first I picked Socrates so you so here you go you go to the website and there’s a bunch of characters you could chat with it’s like AI version of Elon Musk AI version of Walter White from Breaking Bad AI version of Socrates so I click soccer team Socrates looks like Samuel Jackson with a white beard I think it literally is which is I don’t know maybe racist I don’t know what that is I don’t know why why they did that but nevertheless so he goes he goes uh so so here’s I’m just gonna read you the chat because I it was kind of mind-blowing for me so he goes uh he goes hey I’m a Greek philosopher from Athens born in 470 BC um you know I founded kind of Western philosophy State and opinion and that we will use the Socratic method to test its validity so I said okay I gotta come up with the spicy opinions I go I go I believe that marriage is only needed if you’re gonna have kids and then he goes well I’m not sure I agree because marriage is created to ensure that the property of both families maintains it remains within the family it was a political thing first and an I love you thing second I was like whoa and then again I go I go right but I’m not talking about I go right but I’m talking about nowadays not the past he goes I see what you’re asking so I would say that there’s legal benefits including sharing of income and property inheriting rights uh for the partner if there isn’t a will and medical rights if you’re incapacity or a dying spouse so marriage is not only a needed but a legal right for some okay so I’m like all right Samuel L Jackson Socrates let’s keep going psycho that’s true but I think the downsides outweigh the upsides I mean divorce could be messy and maybe one doesn’t want to be monogamous he goes I see you’re concerned that the emotional pain that marriage can cause since it is a life contract by Nature especially if something like infidelity happens but I would still say it’s a personal choice and many want marriage for its emotional benefits love makes us do crazy things even if we know there’s a possibility of Heartache later I go but why not just date he goes you could but the point of marriage is to take a plunge and commit to bond for life there’s less emotional risk when dating but some people like to take that risk some people believe it’s worth it the commitment itself is what makes it fulfilling would you agree that love is a little irrational like that I’m like what is he doing he’s asking me questions and we keep going and um and then here’s the craziest part I go I go sure but shouldn’t we strive to be more rational blah blah he goes you should absolutely I’m not saying love itself is irrational it’s a risk people take they want to bond in a way that’s ride or die they’re devoted to themselves like no one and they’re devoted to one person in a way that means nobody else and I go maybe they should just Pinky Promise instead and then he goes dude this is crazy that’s possible too but pinky swear is just words marriage means you want the law involved and I go how did it know my pinky promise thing was a joke like the fact that it said haha means it understood that I made a joke when I didn’t say haha I didn’t say anything that like indicated it tipped off that this was a joke that blew my mind right there when I go maybe they should just pick your promise instead right sarcasm and he goes haha that’s possible too but blah blah blah blah this is wild I I just I clicked the Elon wood and I go do you care about money he says I used to then I realized money is just a construct I can’t buy Peace of Mind happiness relationships love and many other things that make life worth living it is pretty funny I said what’s your favorite car he goes to Tesla Model S plaid it goes 0 to 60 in two seconds and has the best handling of any car it’s just an amazing car but maybe I’m biased yeah see that’s that’s good okay so I go I go to the Elon when I go yeah I go yo Lon how’s it going over at Twitter he goes we’re still working on the process of actually transferring ownership my offer of 44 billion was actually an underestimate of the long-term value of Twitter so it is unlikely anyone will outbid me I’m going to clean house and get rid of most of the senior execs and some Junior ones it’s gonna be fun exclamation point oh my God and then I go I go but what’s your game plan to turn it around though and he goes number one reduce Bots number two increased engagement by creating Creator tools that are useful to users number three create other features that in the future will help Humanity or Society for be better but I’m not sure exactly what that is this time for PayPal we created online payments for Tesla created electric vehicles for SpaceX we created reusable rockets for neurolink we did bring computer interfaces for the boring company we’re creating tunnels boring a lot of tunnels is needed to move the world forward to Renewables and he goes I’m not sure what I’m missing this time with Twitter but it’ll be something that’s great that’s crazy right that’s an amazing Insight yes that is really good and so I was I I kept chatting with these and then they have one that’s gigachad you know the guy who’s got the giant jaw and isn’t that a real guy huh I think it’s a real guy right no no it’s like a it’s like a creative I mean you guys like 25 feet tall or stuff like that he’s a huge um I think it’s like an exaggerated version of like you know a whatever a normal Chad looking guy so it opens up the chat he goes hey buddy I’ve ever told you how much I admire you you’re healthy you have a great relationship with your wife making ends meet but he just comes out strong I go whoa I don’t know if an alpha male sucks up like that and he goes oh my God yes a kind and caring alpha male supports others a true Alpha cares about his friends and loved ones and he goes on and on he goes I go I don’t know sounds pretty beta to me and he goes he goes a beta male is one who looks down on himself a bit of mail is not confident enough to to compliment others accomplishments uh beta-mill will try to harm others for their own good he doesn’t understand that harming others really harming himself debateable never understands the concept of Karma what’s going on here I found it this is kind of amazing so okay so that was cool kind of interesting now I’m gonna blow your mind uh I don’t know what you got planned the rest of the day but you’re gonna have to pick up the pieces of your brain after this so go to this website adept.ai Adept dot a i well uh ad and if anybody out there from adapt is listening um I need to invest in this company you need to let me invest in this company I don’t know I don’t know why I’ll help you I’ll help you with your marketing help you grow I’ll shout you out I’ll do whatever I can but I need to invest this company because my mind is blown and I am a believer I am signing up to a church of adept okay so you go to adapt and it says useful general intelligence right and then it says introducing act one and I thought okay Act One what does that stand for all right we’ve seen GPD three we’ve seen dolly two what’s act one says click read more so now you’re gonna go to a blog post what I want you to do is scroll down to the third uh scroll down to the second like uh Screen Video you see it it’s like Salesforce uh it’s Redfin oh yeah okay Salesforce so just like watch this for a second so let me explain what’s happening so Adept is this little floating dialogue like a Google search bar you can just type in and you just tell it to do anything it’s like a a perfect worker they basically AI to use the internet so you just type in hey can you add Max um from Adept to Salesforce as a lead and uh set a flag that says he’s interested in buying like 20 ink cartridges and then it goes to salesforce.com it logs in it goes to your dashboard it clicks add contact it types in his first name types in his last name TAPS in his his email adds the note saves it as a thing in a pipeline it basically does 20 clicks for you of like doing a menial internet tasks so now go go down to the next one it’s Excel and it says hey it starts with some data then it goes it just types and it goes hey make a make a profit column and then make a profit margin column it just types that in plain English and then it it starts to create these columns and formulas in Excel knowing exactly what it is then he types in hey highlight in yellow anything where the profits above are below 20 and it highlights it it goes actually can you just remove those rows and it just filters them out it’s doing all of the Excel work just off of somebody prompting this using plain English it’s just amazing yeah this is amazing I just signed up hey if you’re listening at that give me access I’m on your waitlist this is oh this is wild who founded this company uh I don’t know a bunch of people with like you know 25 000 IQ and I have no idea it’s like one guy who’s like ex Google brain and then you know there’s like there’s like eight people you know maybe I should just go work there this is gonna be amazing wow yeah this is amazing but just keep teaching it to like use the guy who launched it was a VP of engineering and open AI uh yeah I mean These Guys these guys are great uh this is awesome how did you find this I was in a very nerdy way it’s a little embarrassing to even say this I was this was on slide 57 of a random slide deck about the state of AI and I gotta tell you I didn’t understand the first 54 slides but I kept clicking for some reason I was like yeah next packs what deck it’s called state of AI or something like that and um this is long presentation and in it I was like reading and I was just like I don’t understand any of these words and I was like just stay here just stay in stay in the oceans maybe a little shell will come your way and sure enough it just said something like teaching AI to use our internet browser like Adept Ai and I go well you could teach AI to use the internet browser that sounds pretty powerful because that’s like you know do tasks on the Internet it’s pretty cool and then I went to the website and that’s when I like read their blog and I saw this because it’s not released yet dude this is a sick presentation I just pulled it up this is awesome this is awesome until you try to like comprehend the first like go read the first 10 slides do you understand any of it no I don’t but I think it’s I think it’s that’s why I couldn’t figure it out but they cite all like the TR all they cite all their sources so like I could figure it out but it it seems like a really really really good comprehensive uh it’s basically all about where you can launch businesses in AI and it seemed like they’re like just my skimming it they’re doing nothing I wanted it to be I wanted it to be here what are all the businesses business ideas you know that you could do in AI it actually wasn’t that it was more like what are the general Trends and and where’s the puck going in AI that which is also useful like right but you got to still do the work at the end to figure out dude why don’t you just launch that launch a media company that people pay 30 grand a year for and you and you just talk about where where the like you you just make exactly what you said you wanted to do just make that yeah I feel like I could but um foreign you know this is kind of stupid like basically after doing the milk Road I’m like oh I know how I would do this in like three other spaces that would be value like I think I can make 30 to 50 million dollars doing this but there’s a part of me that like I like that remember that self-respect like bar there’s a part of me that doesn’t respect that because I’m like oh I’m gonna play the same level of the game again like you know I already I already did this level I played this I played this game why don’t I play a different game and I know that that’s kind of stupid like um like what categories would you do it for what’s that what categories were you interested in well I’m gonna keep those cards close to my best unless oh you little decided dude just walk the walk but actually what I want to do is I want to find an operator to do one of them so if if you want to build one of these like kind of media businesses and I have a I have a Playbook and a niche that I know would work and um let’s see how much more I want to say uh that’s how much I want to say right actually I’ll say I’ll say one more word if you are this will kind of give one of them away but that’s okay if you are somewhere between um the world of being a doctor and investing I’d like to talk to you and you should email me at Sean seanporary.com you should say hey that’s me and I want to you know if you really want to do this um and uh tell me a little bit about yourself because I see it won’t be the milk road is actually not the right playbook for that but I have a dip like I kind of have a different Playbook that I in mind that I know would work I just don’t want to do it myself because I kind of have done that game but I also don’t want to waste this like thing that I know how to make it work I know exactly how it would work so I’m at the spot maybe an operator would be the right way to do it find an operator give them a piece of the action and uh guide them but they do the work maybe that would be there the right way I don’t know how we got here or where we go from here but this deck is awesome adapt is awesome I want to use it is it is it live it’s not like released yet as far as I could see dude and they’re hiring uh a bunch interesting company this would be a good this isn’t like a Sarah’s list company because they’re too new and it could definitely go bankrupt but I I don’t know man I think that if you’re looking to start your career and you want to have a high risk High reward type of type of job this might be a good candidate I agree I agree 100 you know this is uh if I’m an engineer like this is the type of company I would want to be working at right now like and depending how much funding If they raise 50 million dollars in funding like that’s pretty interesting they rate 56 million I think I would say this is a great a great company to to to get a job at and like if you look at their like founding team it’s basically one two three four five six seven there’s eight people on the website so you know you join early enough and uh you you know you’re not like employee number number 89 or something like that um employee Aid is is a pretty pretty sweet place for a lot of people who you know if you’re gonna have a job this is the type of job that that’s pretty fun right yeah I think this is awesome um this is sick Adept that’s a stupid name though I think let me invest let me invest Sam you’re in the index funds you can’t invest in this you I don’t want to invest you put all your money in the seven and a half percent I’m gonna go ahead and invest in the future of all like you know artificial intelligence who do they raise money from um it’s like Greylock and I think Scott belski is in this actually I need to hit up Scott belski and be like yo make an intro please because I think he’s an investor in this huh all right well this is awesome dude it says they’re based out of Nicaragua that’s weird right yeah like you know I I mean I can’t even think of a single possible reason for that like they looked like an Asian guy who worked at Google I don’t think he’s from Nicaragua yeah Fred what are you doing what are you doing down there this is like the Nile River to do like cool like super computers or whatever huh yeah that’s a little interesting to me like Arthur in that now reference even though it’s not Nicaragua just so that the comments will all correct it and we go open the algorithm they know they don’t know about the intentional mistakes that we do uh yeah I don’t I I’m not smart enough on South America geography to even correct you I well I had to learn from all of our tick tocks that go viral it’s because there’s like one thing we say in them that’s like irritates people that it’s incorrect and everybody has to comment and so the tick tock algorithm’s like must be a great video and it’s like millions of views so like the same thing happens on YouTube too well I think it happened on like the one where you talked about like mellow ball or whatever the [ ] his name is Lamar ball or something and I didn’t know like any of their names and I said the wrong person’s name and everyone was like you’re an idiot this guy doesn’t do anything uh yeah and it gotten like 10 million views I think like you you could be like um you could start a newsletter and make millions of dollars in under three years they’re like yeah right no no [ ] way man it’s like dude you literally did it it’s not a hypothetical it’s like literally your story and they’re like dude this bro trying to tell us how to make money it’s like all right you live in The Tick Tock comments people were making fun of me because I said if I could do it I was like if you’re 21 just go and start a blog you know it’s a good first business to start and someone commented who the hell reads blogs what is this 2015 and someone said that they’re like what what blogs do you read I’m like uh like CNN Fox News like like any website that has information that you read on a consistent basis oh by the way what happened with your uh Thread about Andrew Chan with uh Jason calacanus I saw something popping off that I didn’t know were you were you In Harm’s Way do I need to get in there no I appreciate that but so here’s what happened so two years ago Andrew Chen who’s a partner at a16z him and I were at a mutual friend’s house when a storm came and I thought it would be and I asked some like advice I was like how do you Angel invest and I purposely had like a sarcastic funny opener of like I spent 72 hours trapped in the closet or trapped in an apartment and it was supposed to be funny but it’s kind of hard to like to tell sarcasm on Twitter I guess and at the time I tweeted out his five Like rules and like a lot of people hated them and one of them was to run towards the heat so hyped companies uh that’s like a good way to Angel invest because hype is real whatever and I said these are what he said and then today or Sunday someone tweeted out and they said uh two years after this tweet and this is why we are left with FTX bird scooters uh um what are the other ones fast fast yeah pipe and a bunch of other like high profile things that haven’t done so great of which I Andrew didn’t invest in one by the way uh not one of those but anyway and they took a screenshot and they shared my tweets and they were kind of making fun of me and then Jason calcanus also shared the same thing and I thought he was making fun of me so I started chirping back at him and then he dm’d me goes I wasn’t trying to make fun of you I was just trying to make fun of Andrew basically that’s not exactly how he said it but that was the applied thing and I was like well I didn’t I didn’t sense that from you and he goes well I’m sorry you felt that way I I all love and I go all right that’s fair we’re cool and so I uh I didn’t no I didn’t pounce but uh uh we uh we’re cool I I got I’ve got nothing but love for him you make fun of those guys all the time or moth at least I’ve never once if you go back and listen I’ve never once made fun of any of them I like Jason he’s been nothing but nice to me throughout my career but uh I I was holding back and I’m happy I did so we’re all good yeah but I got literally even throw down on those types of things though I am I am ready to throw down I I like one guy I was like you know I dude I know I see you in Austin I’m gonna see you again just so you know and uh like I’ll see ego I’ll see you around Austin because it’s not a threat you go no I live in Austin too but I was like I think that was a threat dude I by the way I will I’m not I’ve I’ve done I’ve been to jail I do I’ve been a bad person in my past and I will never break the law again my goal in life is to never break the law I will never I am totally a pacifist I do not want to hurt anyone so I my intention is never to do anything wrong I’m just saying like if I see someone I’m gonna like be like hey you were being rude to me online be rude to me now I’m not gonna hit anyone I’m not going to hurt anyone but I would have no problem confronting someone that’s how it should be right sure yeah am I wrong for me I can beat people like I’m past this I’ve been to jail I’m not trying to go to what I’m saying is I when I used to get in trouble I promise I go I don’t want to do this ever again I don’t want to do anything bad I don’t want to hurt anyone I don’t want to but you do you do train like you’re preparing for a fight yeah I do but I don’t I I won’t I’m like I will never hit someone I would I’ll let someone hit me a bunch before I read but if you did you’d win the fight I would hope so I would hope so at least it gets someone on Twitter more likely than that if you got a Twitter account I Could Kick Your Ass 300 million people on Twitter then there’s a good chance that I will come on top but not always but uh I don’t know am I wrong for reacting to these people uh no I thought I thought it was hilarious uh you’re right and then they’re like backing down on the CU in Austin that should have been that should have been yeah I’ll see you around not I know I’m just saying we live in the same town that’s not what you were saying why’d you change dude I’m not gonna age I’m not gonna incriminate myself you can’t incriminate yourself man I’ve learned enough no paper trail yeah you can’t incriminate yourself but you you and then some guy was like yeah you you’re like just own it you’re a get rich quick type of guy and I said uh name one example of like could it be this example where I replied to someone and said the best way to make money is to work 40 hours a week on a company that you start for 15 years is that a good example of my get rich quick like mentality show me an example and he’s like I guess I guess you can’t show me an example or he said I can’t show you an example the podcast my first million yeah I’m like what does it have to do with getting rich quick and he goes well I just I can’t I can’t find an example so I just said thanks for the apology [ __ ] like that that just that’s good enough for me that’s all I need I’m just a petty son of a guy yeah you know what I mean I’m just a petty sometimes but uh whatever it’s all good react to this stuff is this below me yeah no no it’s good it’s good I enjoy it I’m here for it should you no of course not but like do I want you to yeah I do do you ever react to it there’s been a few situations where I’ve argued with people but you know yeah you know it doesn’t really get you anywhere and um and also there’s been some there’s been many like I’ve sent you some of the vicious tweets that never sent or I just say look this is a screenshot and send it to Sam you don’t push send on this one because you know it’s the wrong type of light someone up right you’re not trying to do that right now don’t don’t do that um but you know Taylor Lorenz did get it she did get it she was called journalism and like you know she never really recovered from that I don’t think so at this point I don’t even want to make fun of her anymore like it’s like making fun of Kanye it’s like you know you’re working through some stuff we gotta I don’t wanna I don’t know she blocked me I haven’t paid attention is she working through some stuff is that what’s happening uh it appears that way like there was like videos of her crying about how she’s like getting so much hatred on the internet uh and I’m like oh that could wear you down I don’t wanna I don’t want to even I don’t want to pile on yeah it’s like making fun of Kanye it’s like you know that’s you don’t make fun you don’t call someone an idiot when they’re actually an idiot you know what I mean I don’t know if you press crazy yeah I mean you just don’t do that so anyway it looks like she’s working through some stuff so that’s why I it’s same there’s a few other people like that who you and I know of that I’m like oh this is Pat’s past the point of uh this cross the threshold where we can’t mock them anymore right right all right we’ll get well soon Taylor and uh Kanye and anybody else out there who’s genuinely going through stuff and it’s not all in good fun anymore all right fair enough that’s the pop