Transcript
Raw auto-generated captions — not yet polished.
Note: This transcript was auto-generated from YouTube captions. It may contain errors and lacks speaker identification. A full Gemini audio transcript will replace this.
Kind: captions Language: en so he’s got uh is it the daily wire is that what it’s called daily wire so this is like a subscription Media company that he created because they’re just sort of like anti-mainstream media that became a big thing like fake news and F the mainstream media well why don’t we create an alternative the daily wire and the daily wire does some insane numbers it’s like only in year three or four or something like this very new and it does over 100 million a year in subscription Revenue yeah and have you heard of their their spin-off Jeremy’s razors dude you’ve got to go to this [Music] foreign dude I’ve had a hell of a of a of a day I’m not gonna say who but check this out a friend wanted to come skateboarding with me so naturally he got a concussion so I took him to the hospital by the way did you even get like an hour of skateboarding in or was this like five I got an hour in I got an hour in uh yeah and then he was getting hyped up seeing me do stuff he fell hit his head take him to the hospital to get his concussion checked out turns out while we while we were there while they were getting the scan their appendix ruptured and they get rushed overnight or they get they have to stay there overnight get rushed to the a different hospital emergency appendix surgery so this head injury basically saved his life and they were like I don’t know like this is just a gift from God but you definitely could have died from this did the appendix get damaged in the skateboard fall or no just separately happen to be the same time separate it’s just a weird turn of events very separate so that’s where I’ve been so I’m a little disheveled but I’m wearing my cool guy jacket now that’s my new thing I’m gonna be the token cool guy you could be the nerd congrats no this is real leather bro this thing this ain’t Tesla vegan leather but I’m in my cool guy outfit so I’m good to go yeah um cool is what I would describe that as so that’s uh all right where where shall we start where do you want to start are we still is Sam still showing up to the BYOB empty-handed or is he bringing ideas to the table where are we at with this whole uh well Sam does research thing I know you started with a doctor’s note there so is that your excuse for why you don’t have any topics we I just went over a lot of my topics I was the one who did the topics um oh you want to talk about your new seed oil only diet isn’t that what you told me that you’re doing a seed oil only diet so like seed oils are all the rage right now is it just in my world we start talking about them and now I’m seeing everywhere people are so anti-seed oils my friend Dennis was like screw it I’m only eating seed oils from now on I looked yesterday at the bag of um I was like you know what I kind of want to have one of these little little bag of this little pretzel thing for a second I just let me just check the check the stats on this I was like ah it’s not so bad not too many calories whatever and I looked at the the ingredients I saw canola oil on there or something like that you know sunflower oil whatever these things are and it was a Sam voice in my head that just told me these things kill you and so I decided I decided to put it down I drank a big tall glass of water instead so pretty pretty big net win there for me yeah I don’t know why it’s bad for you but someone on Twitter told me it was therefore it’s true if it’s if it’s written down on Twitter or if it Rhymes or if it’s like a cute phrase I automatically believe it alliterations Rhymes or four people I don’t know either any one of those three and I’m in let me tell you uh two things one you said something about like oh it’s beautiful it’s well done and it reminded me I uh yesterday I found anime what would be an amazing DDC product not amazing like hundreds of millions of dollars but uh a DDC business that is I know would just it would work it would work really well it would be very profitable um I’m looking uh if somebody wants to operate it I I’ll I will just simply give you an idea in a Playbook and then uh I’ll take my share and we can we can start this company but basically it would require somebody who’s good at things that are beautifully done so this I think requires the feminine touch so I’m sort of fishing in a dry Pond here with this with this podcast but uh to our four female listeners if any any of the four of you you’ve got a 25 chance each here to uh to step in and take it or um to one of our male uh listeners if you I don’t know see a female today let her know about this opportunity I’m looking for somebody who could do something that is uh the product is beautifully done it would be a successful d2c product I have no doubt in my mind uh you just need to be good at a couple things you know an aesthetically beautiful brand and short form video content tick tocks or getting them made by other people if you don’t do them yourself but easier all right you have been the palm of your hand tell me what it is um I can’t tell you on air because I don’t want everybody to copy it I will tell you off air wait really yes dude this was the lamest segment ever is that really it that’s really what you want to do that’s really what I’m going to do here if it happens then we can we can reveal it uh and if it doesn’t happen then I’ll also reveal because I have nothing to lose at that point so just not yet I I was gonna remind people this is usually a segment where I remind people of our Gentleman’s Agreement where we work for you now but all you have to do is go to our YouTube channel And subscribe that’s a gentleman’s agreement it’s called The Gentleman’s Agreement because I can’t check to see if it’s true so it’s just based on trust but all right I’m in The Penalty Box but I’m gonna fight my way out okay so here we go I tweeted something out the other day that I think is very interesting and reminds me of the Doug demuro a YouTube Creator yeah a YouTube Creator who’s not just gonna make money off YouTube ad Revenue but has built a business that they built basically a 50 million dollar plus Empire off YouTube why did I ask this question well your boy’s gonna start doing YouTube content but your boy also wants to make more than 50 million dollars doing this process and so I wanted to see who has done this before because I’m not really interested in being a Pioneer the Pioneers get slaughtered right so I don’t want to be a Pioneer doing this I want to be sort of a fast follower so I was looking for examples and I got a bunch out of this tweet I want to read some of them off to you and see what you think about these first one by the way when you tweeted that I don’t know if it’s because I know you well or if everyone like could read through the lines here but it was very much like uh tell me what to do with my life yeah yeah yeah yeah like hey can you just um can you validate my parking pass here yeah I need some need something so first one’s right up your alley more plates more dates more place more dates you probably know this story a little better than I do I didn’t know he was doing this because I watched his videos he doesn’t really pump product as much uh or at least in the clips that I’ve seen if you watch closely he does not not in an obnoxious way right so this guy Derek super likable guy uh puts out great content I’m not even really interested in like testosterone and like steroid usage and something else occasionally I am with certain athletes but usually not but I find myself just watching this guy’s videos because I like this guy a lot um apparently he’s got a brand or maybe two Brands one brand uh you know the name of it yeah one’s called Merrick health and the other one is called gorilla what’s real mind gorilla mind yeah so gorilla mind if you go to gorilla mine gorilla mind is getting I want to say almost two million uh between one and two million uh visits a month right so let’s say a million visits a month I think it’s pretty safe that this that this brand is doing about a million dollars a month in Revenue so 12 million a year in revenue on his uh supplements brand I think more I I would take the I would take the the more on that one yeah uh yeah that’s a I would say a conservative estimate uh would I wouldn’t be surprised if it was as high as four million a month um and supplements are an amazing Niche to be in right like everybody wants to be in the uh everybody wants to be in the supplements Niche so um so that’s great just gave me by the way two pronunciations of Niche uh back to back just to appeal to both both sides of the aisle you totally redeemed yourself and then Merrick is this trt clinic so they basically do kind of like you know uh help men you know stay young so hormone replacement hair loss sexual Wellness all this stuff um this thing’s got to be doing pretty well too and I think they also do the semi-glue tied stuff uh as well I don’t did he start this or what because it has like 200 employees on LinkedIn is just a partner or he started it I think he’s an equity owner I don’t know if he’s the guy but I think it’s he’s he’s so popular that it appears as though he’s a a main guy and he’s definitely pulling his weight I know a lot of people he used Merrick health I don’t know anyone who uses gorilla mine I think gorilla mine’s a horrible name for a supplement company uh but I trust Derek I think The Branding on this is wrong but it’s interesting and it’s what’s really interesting is like he sells creatine do anything about creatine it’s awesome for one and number two it’s basically like have you ever heard of creatine it’s awesome I’m almost positive that creatine is like a commodity like it’s almost like all the same uh and and he’s selling it but he has an upset here he has a he marked it up because it’s Derek um but yeah that’s a good example of a Creator killing it and by the way these examples I specifically said I said you get kicked out of the party if you come here and you say Joe Rogan or Mr B started like it has to be somebody else like not the examples everybody always talks about so here’s here’s a couple others okay so here’s some that uh I’ll go in order of the ones you know to the ones I think you don’t know so another one you know Kayla I don’t know how you say her last name Kayla izinis I think so no I think it’s like it’s new or something I think it’s pronounced a little bit different but but if you’re if you’re one of the four women listeners they 100 know who she is trying to pronounce like uh Hermes or something like that on this podcast or like Hermes yeah you know I got a lot of [ ] for that um yeah one time I heard you pronounce it you’re not exactly good at pronouncing pronouncing things my mouth doesn’t fully work yeah I got a thick tongue uh so she created this app so she’s like a fitness influencer type person ends up creating an app called The Sweat app I believe they sold it for 400 million dollars so her and her husband or boyfriend and then they broke up but they kept building the business together I don’t know what ended up happening there but it sounded like there was some drama uh 400 million dollars on this exit so I thought that was a great example of not just saying cool I’m gonna hold up a detox tea and you know get paid five thousand dollars for a shout out I’m actually going to create a business off of my following um Mark Rober so Mark Rober yeah he’s a former NASA engineer he makes like engineering videos like oh I built the world’s biggest T-shirt cannon I love this guy he built it yeah he’s a really likable guy he’s like you know the science teacher everyone’s favorite science teacher type of guy he has a monthly subscription box I think that does like it’s like a science kit and you’re like you get to build little products yourself and that’s a great idea super on brand uh it’s 25 30 bucks um this thing is I I think doing millions of dollars um a year pretty safely he’s got a very very big following 23 million I think on YouTube I mean he’s like one of the big guys yeah he’s been around for a long time um okay another one you probably know Ben Shapiro so Ben Shapiro is um by the way I’m gonna make a little prediction you don’t agree with everything he says but you kind of love this guy I’m objecting I also feel the same way yeah I like his nerd Swagger and he’s he’s just fast-mouthed he just like says things very succinctly and quickly and I don’t believe in most of the things he says I believe maybe some of them he’s pretty religious uh and I’m not into I’m not into religion but he says a lot of stuff that I’m like dude just the fact that you came with that like pretty brutal reply so quickly I respect you yeah it’s like a rap battle right like you just at the end of the day you know whoever kind of insults the other person the fastest and the best wins and uh he does not have a thick tongue like your boys uh do so he’s at that thin time yeah he’s good man so he’s got uh is it the daily wire is that what it’s called daily wire so this is like a subscription media company that he created because they’re just sort of like anti-mainstream media that became a big thing like fake news and F the mainstream media well why don’t we create an alternative the daily wire and the daily wire does some insane numbers it’s like only in year three or four or something like this very new and it does over 100 million a year in subscription Revenue yeah and have you heard of their their spin-off Jeremy’s razors no dude you’ve got to go to this so go to it’s just Google like daily wire Razer company but so basically uh dollar share or Harry’s razor was one of their spots so basically Ben Shapiro’s conservative or he’s right-wing whatever he’s you call him and so naturally like the left hates him um and the right uh loves him because they feel like they’re being canceled all the time and so Harry’s Razors was one of their biggest or big advertisers and they bailed they you know said you know we’re not going to associate with Ben you know you’re screwed up and so the founder or one of the co-founders and CEO of the daily wire his name is Jeremy and so if you go to Jeremy’s razors you’ll see the website and they made this crazy video where they just said like it’s actually pretty hilarious regardless if you agree with them or not but they created this video that’s like a hype video and it was launched nine months ago and it has 22 million views and they’re selling millions and millions of dollars they basically just took the Harry’s razors like it’s pretty much their site is identical to Harry’s Razors but they just go taught Jeremy’s razors and it’s like and the picture is this guy who’s he’s like smoking a cigar it’s basically a big middle finger to uh to Harry’s Razors on the about page it says Harry’s in the daily wire had a deal they paid us we advertised their razors but after we said that boys our boys and girls are girls they probably condemned our views as inexcusable uh and misaligned and you know what uh you’re damn right our values are misaligned we value truth and the right to speak we Embrace masculinity and the courage to uphold it and so that’s like the whole shtick it’s Us Versus Them regardless of what you feel about that if you think it’s right or wrong very uh they capitalized on something and it’s and it’s doing well this is so good this is uh wow this is an amazing amazing little case here the video that’s the like ad the launch video for this it starts with a it’s like it’s like professionally made and basically starts with like you hear like a car and you’re in a parking lot and it shows like the parking signs and it’s like um you know the daily wire and then it says god king and a guy pulls up in a McLaren and he gets out with a like a blowtorch and he goes inside and just blow torches a bunch of like Harry’s um like merchandise and just sets it on fire and it’s like uh such a such a smart thing to do to take this like great business model right the the classic kind of Gillette you know um Razer cartridge model and then just be like no this is the one done by by us for us right like um yeah that is so smart and I feel like that just opens the door for them to do this in five other categories yeah it’s a very very intriguing uh case study of what these guys are doing so yeah that’s a good one can you write the word Jeremy on a stick of deodorant yes you can all right Greg can you write Jeremy on a tub of toothpaste great yep you sure can uh what else can I write the word Jeremy on that’s not there’s now a guy running around grocery stores being like we can write Jeremy on that we can write Jeremy on this oh my God guys the opportunity is massive yeah they’re like hey Republicans like sunscreen let’s do that white people get sunburned this is yeah totally work yeah interesting case study all right what else is there all right so then there’s kind of like the Emma Chamberlain a lot of people talk about her coffee thing people know that uh Pat McAfee killing it you know he kind of did he did a hundred a four-year 120 million dollar deal with FanDuel for his NFL show which is pretty insane um that’s like a absolutely insane like brand deal to pull off okay then there’s some others that I hadn’t even heard of so he’s also the host of like WWE do you know that he’s like an announcer there he’s kind of Crossing I went down a very deep McFly Rabbit Hole one night because I was like I think I love this guy he’s amazing and I was like I’m doing this for the Pod This research and then three hours in I was like this isn’t for the Pod this is for my soul I I just enjoyed this is watching this whole journey and I was also like I don’t think there’s even a story here for the podcast I just think I really like this content and I’m and I never talked about it I just did three hours one night and I just never brought it up there was one time where I thought about our setup and I’m like we should do it standing up because he stands up when he records and I love it he also wears a tank top which I know you love yeah so win-win um all right so here’s some others that I didn’t even know who these people are Danny Austin you ever heard that have you ever heard of this person no okay so she created a brand called Divi and it’s basically scalp care for women so she basically took a problem in her life which was I think maybe like as she was aging or postpartum maybe she was struggling with hair loss which is actually pretty common for women to struggle with hair loss um like I know my wife like after we had every time like you you go kind of like after you have a baby uh like your body’s just producing whatever different hormones and there’s like they all like complain about like you know their hair thinning or hair loss it’s a very common thing so anyways um she creates a brand she first was just talking about the struggle and then she stole the solution so her content was everyone’s like oh my God Danny so vulnerable so authentic oh my God so like I’m so glad you’re speaking up on these issues and like you’re a beautiful queen you’re so beautiful this is like don’t worry about it and then she sold a solution which was like the scalp care thing and she did 20 million dollars in the first like 10 months or something that’s crazy so it just like took off right away like a rocket um so I like that one there’s another way do you ever watch dandruff videos on Tick Tock that’s like my favorite type of content people just like flaking off dandruff you ever do that people like people like popping zits too dude because I got crazy dandruff if I like itch my head there’s gonna be a snow day I’m always looking for like a good a good dandruff shampoo and I love watching dandruff videos on Tick Tock it’s a huge Niche don’t wear black around Sam yeah not good um so there’s this woman named Mindy McKnight this is another cool example so she started a brand called cute girl hair where she was because she was just doing hairstyles YouTube yeah great name honestly amazing name uh yeah she was making YouTube content just doing hairstyles for her girls that’s cool content oh here’s how we do this hairstyle here’s how we do this one um it’s kind of like you know what your big sister should have taught you or something like that and uh I think her story is like she has five kids I might butcher the story because I just I don’t remember this was like a couple weeks ago when I saw this but like I think she’s got five kids or something like that and they all have different hairstyles or textures they may have adopted or something like that and so she’s like her content is showing like this wide range of like hairstyles and how you can make them all look cute no matter what your hair is right that’s great she does a launch with Walmart and it’s the second biggest launch with Walmart she just they’re doing nine figures in sale so over a hundred million in sales um and her YouTube channel has five and a half million uh Subs um her twin daughters have YouTube have a YouTube channel with seven million Subs right like this is just kind of insane how big that launch can be when it’s like total alignment between Creator their personal story their content and then the product once they have the distribution and so that was pretty inspiring to me I really like that and now uh now I have a good excuse to spend all day just making fun content for free and being like don’t worry one day this is all gonna become actual like this will this will be real work this is not just me getting to play around and like you know be on YouTube all day all right well what else is there I mean cute girl hero great name what else you got uh well okay I just gave you seven but like we can keep going if we if we like Oh I thought you had a few I there’s one one guy that I find very fascinating that I saw someone mention on your thing Gooseman I didn’t know who this was a lot of people mentioned him so Guzman he’s I guess a fitness influencer he’s got athlete or something like that alphaly yeah his I don’t know if his knit I think his Niche is like Texans I think he’s hispanic so I think he has like a huge Hispanic following but basically basically he’s like a rip a rip guy but he like has like weaved in his family into his content so you like know about his life and he’s like a family guy he launched something like a 50 000 square foot gym called Alpha land uh so probably not in your wheelhouse but it’s called Alpha land and uh sister Branch for uh dudes yeah you go there to watch what’s going on is that like a gymnastics like part of the stream we stretch and watch other men workout yeah it’s called Alpha land it’s like a 50 000 square foot gym I forget where it is San Antonio or Houston or Dallas or one of those folks one of those places where you’d expect an alpha land and uh and he also has a clothing line and I think he’s killing it I think he’s doing a he’s big business right I like say you acted like you hadn’t been there or don’t have a membership but like um uh okay yeah so this is my these are my 50 million dollar creators and all these people I think have built off of their YouTube content uh United Empire that’s easily worth 50 million or more uh you um you you made fun of me for not preparing and you prepared that list I think I knew more about all of them than you did yeah because you were you’re like a real consumer of content um right like I’ll be like oh they use this technology in this music video you’re like yeah I love that music video and I’m like I haven’t watched a music video and it literally it’s been 17 years since I’ve watched a single music video I went to your house and you just had music videos on TV on Loop I love music videos I was like this is what you watch and you’re like I just leave it on [Laughter] I ran out of questions because I was like wow this is just a different thing that just doesn’t happen in my world no I watch music videos constantly so yeah that’s one of the ways I know about stuff also my wife is a little bit younger so she just turned 30 so when we were dating you know only a couple years ago she was like in my 20s okay yeah well hey I said younger than me and she’s got a younger sister so I’m kinda I’m I got my toe in the cool kids Market yeah you like you see people you leave the house you take supplements you watch music videos you watch movies you read biographies you do a lot of things that like you know I simply don’t do I’m like a I’m just like a heat-seeking missile for like what’s the interesting story and then my stories are typically like uh did you know that there’s this and then for most normal people are like yeah I love that I love their Channel you’re watching them October for years you’re a potato what you see is what you get you can pull the skin back a little bit it gets something new I’m like you’re an onion bro there’s layers there’s lots of layers it goes all the way to the core the layers don’t stop yeah but french fries are made out of me and I think that that’s kind of a win dude all right let me tell you something interesting and this is more so I want to put this on record that I brought this up about two years ago but have I remember when I told you about the company bring a trailer yeah yeah you said um you said you were talking about um car companies or auction companies or something like that and you were like dude there’s this thing you’ve been told that this is like a long time ago before a long time ago you were like dude there’s this thing called bring a trailer it’s sick you can just buy a car on this auction thing I don’t even know how it works exactly you’re like it started by this guy Doug no you’re confusing two things it was the guy from uh inbox or whatever right yeah yeah so it was started the main guy I forget his name Nathan I think the the non-main guy but also co-founder I think his name is Gentry Underwood and he started uh this company called mailbox which is like an email thing that sold for uh reportedly 100 million dollars to Dropbox like before it even launched because it built up such a huge waitlist and it sounded like a cool product I don’t even think it got launched but anyway it’s this website called bring a trailer and if you go to it it just looks like almost like a Blog it’s a it’s fairly unsophisticated honestly I think it’s WordPress and what they do is there’s this neat niche of car enthusiasts who like things from like the 70s to like early 90s which I don’t like my jacket yeah yeah exactly like my jacket and it started out small but it sold recently and it was recently ish announced that they last year in the trailing 12 months sold something like 1.2 billion dollars worth of cars in one year and they made something like 100 million dollars in net revenue with like 80 employees and you go to their website and it’s so basic and people love it and there’s this guy named Doug demuro who has a YouTube channel where he reviews all types of cars and he does it just within like an iPhone and he like always has like have you know like a bacon collar have you heard of a bacon collar it’s like where you wear an undershirt on your on your shirt in your white shirt the collar is all like shuffled or like the the the white sleeves are like coming down below your Polo you know what I’m talking about okay so your undershirt is showing is that the idea yeah where you’re like under like he’s like it’s like where you’re wearing like imagine a guy wearing cargo shorts and like an Old Navy T-shirt with like a Hollister Polo above it and like you have a bacon collar like he just looks totally disheveled it’s incredibly unprofessional looking okay I got the definition shirts that have a wavy neck due to being stretched out or from improper care yeah it’s just like it’s just like the very typical like oh my shirts look yeah you’re a bacon color guy so that’s what this guy is Doug’s a a bacon collar guy but he’s hilarious and he’s lovable and he’s likable and he’s built this YouTube channel like he’ll review like a two million dollar Ferrari as well as like a thirty thousand dollar Honda Pilot and it’s right pretty hilarious he’s got three or four million subscribers on YouTube now I told you about two years ago maybe I forget what maybe three years ago he launched this new company called cars and bids and it’s very similar to bring a trailer and so I predict that this is actually going to be a multi 100 million dollar exit and I want to make my prediction there now that that’s going to happen but what’s really interesting here is curated auctions I think that’s very fascinating because the reason it’s fascinating is if you go to eBay have you been to eBay in the last like five years I have not dude no like not a lot of people do of course A lot of people do but like not a lot of people do and it’s because it’s one of those things no one goes there anymore perfect description it’s got like 100 million visitors you don’t know any of them yeah it’s too crowded no one goes here anymore um and so it’s one of those things where like you go to eBay and you like that one it was really the timing that I enjoyed it you go to eBay and you get overwhelmed with options and there’s a couple of businesses that I’ve been looking at where I’m trying to think of what a curated auction could be because I think it’s like I think it’s cool and it feels it’s just a beautiful experience you know that’s what we that’s our phrase it’s just like one option but it’s just beautifully done yeah it’s beautifully done really well done anytime people can say like hand crafted or like Ultra Premium uh that’s what this is and I really have been digging this I invested in a company that is doing this for homes because I’ve been looking at like what are big ticket items that people will buy online that they previously didn’t but they will because it’s more well curated so like for example we talked about uh I can never say it right but hodinki we had Kevin Rose the founder they sell like you can buy like a forty thousand dollar watch online and they do a really good job of editorializing it so I’ve been thinking what are other categories where someone can buy something online that’s 30 to 100 000 even a million dollars plus but if you curate it nicely and you describe it nicely with beautiful photos so in the same way that Airbnb I don’t know if you know this but they used to send out photographers to the really nice listings because they’re like we charge a thousand dollars a night with better pictures you can charge fifteen hundred dollars a night so it’s worth worth it to us to help you make your [ ] look better what else is like that that these curated auctions can can work out because I think they’re really really cool companies to to run and they’re really hard to break once they work once they work it’s like the people working there you guys are important but like the community has taken you are you are just a um uh you you’re just there to to help the community it’s no longer your business that you’re pushing down people’s throats golf equipment golf equipment golf equipment really how much is an expensive how much why do you say that well you have an Enthusiast Market you have a kind of like a knowledge gap of uh which one should I get what’s better what’s worse blah blah blah you have a super premium price point and I think a golfer over the course of their lifetime is going to spend you know probably upwards of ten thousand dollars on equipment and I think that so because I think because I think the the thing you want is like cars you want a high ticket right you need you need a high ticket you need ability to drive high ticket customers to something and so I think that’s one where people will nerd out on the content and um and get there but I have other this what you said by the way is a perfect lead into two things I want to talk about wait let me say mine livestock livestock like animals hell yeah dog dude my my so listen to this my cousins they’re they’re cowboys so they Buck Bowl it’s called if you ask them what they do they’ll go I Buck balls which means they live in rural Oklahoma and and when I went to their house once and instead of like it was a Thursday night and instead of going like the community softball game we went to the community rodeo and there was only like 20 people in the stands but they are practicing their Rodeo which is basically you get on a bowl and bowls are mean bulls want to kill you even if they even if you raised them they’re just like mean and they get on these bowls and they Buck them off and the bull the person who stays on the longest gets a prize but the bull who bucks the hardest based off of like judging wins a prize and some of these balls cost 50 Grand my parents bought into a bowl for fifty thousand dollars and they get a portion of the like The Offspring like the the the sperm that they they sell and they get a portion of the winnings from the bowl they make money off of it yeah and they it’s like what kind of money are we talking here what did it do the return’s not like that great but like you like I don’t know you get a couple grand every once in a while so it’s like not that great and like the bowl can like break its leg and you’re screwed but but should we go have these on a bull it is pretty interesting to own a bowl but it’s a it’s a huge sport in certain parts of the country my cousin went to college on a scholarship for bucking bulls for being a rodeo guy and so and all these folks they they it’s cash so they’ll come to the rodeo with like 10 30 40 grand in cash and they’re like playing right there on it it’s very fascinating you’ve never been to a Livestock Auction sure haven’t uh dude it’s dope but it’s awesome I do think we should go have these on a bowl uh if there’s a bull dealer in the audience uh hit us up we are uh we’re in the market for one uh and we’ll live stream our our bull purchase um yeah this is great okay uh okay so livestock that’s one yeah sure I like our software is the worst have you heard of HubSpot see most trms are a cobble together mess but HubSpot is easy to adopt and it actually looks gorgeous I think I love our new CRM our software is the best HubSpot grow better all right I think I’ve kind of done this but I went even deeper down this Rabbit Hole so I got to bring him back as a new Billy of the week [Applause] a million dollars isn’t cool you know it’s cool a billion dollars the new Billy of the week is an old Billy of the week it’s Sam Altman and you would think Sam what uh somebody you know you got nothing new to say here well Sam Altman we all know Sam Altman we’ve talked about Sam Altman dude Sam Altman’s Sam Alvin’s onion status he’s got layers uh okay so I want to read you some of the interesting I went down to Sam outman Rabbit Hole last night here’s why he did an interview and I was I was watching you got to explain who he is for the news okay for people who don’t know Sam Altman is he’s uh like an entrepreneur in Silicon Valley he created one company he didn’t go that far called looped uh sold it for 40 billion bucks then he but he admit he went through y combinator the big accelerator down here when he was like 19. and the founder of why common are super impressed with him and kept him on his partner and eventually named him president of YC which is like one of like it’s like being named the dean of Harvard after being a Harvard student because the dean thought you were so special and so that’s literally what he did he became the president of YC grew YC he then created he then created the non-profit open AI he then left to go work on open AI open AI is now behind chat GPT which is like one of the fastest growing like Tech waves that’s out there basically in artificial intelligence platform that’s I think they launched Chad GPT and I think got 10 million users in like 10 days or something ridiculous like that it’s worth 40 billion dollars companies worth you know somewhere between 20 40 billion dollars now and uh he’s the you know the leader of that thing too plus he’s a prolific investor was Investments all right so I got some of those facts coming but that’s and most people know Sam Altman I’m not bringing up a surprise if you listen to you probably know who he is okay but here’s some of the things I didn’t know I was listening to this interview and they go um you invested in this Fusion company and I’m thinking okay if you’re gonna still don’t know what the hell that is but I know smart people talk about it okay great and they go uh you led the investment okay that’s fine he led the investment so you put you wrote a 375 million dollar check into helian uh and I was like what you know like rewind what what did this person just say and I literally went back and I re-listened to it and I was and I was like oh I didn’t know Sam Altman has like a giant Venture fund like uh surely he’s not writing a 375 million dollar check himself as far as I could tell that is what he did he wrote a 360. check himself and that got me down this Rabbit Hole up where did how did Sam Altman get so wealthy uh because I’ve heard several stories now so for example when he started open AI or even when he was president of YC he donated 10 million dollars to um a science research uh like um a project that he created right like science research nonprofit to donate 10 million dollars means you got a lot more than 10 million dollars and at that time I was like how did he get 10 million dollars because again his first startup which he was like whatever 18 or 19. sold for 41 million dollars out of that he said that he got five million dollars so somehow he parlayed five million dollars and in a very short amount of time about four or five years was now donating 10 million dollars that was the first thing wow it was that short that didn’t make sense and I was like okay so he’s you know this is now you know maybe six years Max later okay then what else did he do he also donated to you know when he started open AI but they didn’t say how much and then this 375 million dollar check so I started going back and trying to figure out what’s going on so starts looped sells it and that’s about five million dollars from there how old was he uh at that five million dollars like 22 23 yeah something like that I don’t have the exact timeline but I think he’s in his young early 20s is pretty safe to say there he then uh starts investing in startups and so he’s investing in startups second investment is drumroll please the best investment of the decade stripe so he’s one of the First Investors in stripe um that was his second investment and there’s this like thing that I’ve noticed which is uh in d2c Brands they call your first kind of like couple months um your golden cohort it’s like I noticed this about our customers and my Ecom brand but I noticed this across many Brands uh which is your first that first batch of customers you get for some reason their LTV is way higher and it kind of makes sense because it’s actually like the people who immediately get it with your message are willing to adopt your thing before you’re a big brand they probably really have the problem or they’re heavy enthusiasts um there’s some there’s an equivalent thing in investing for some reason it’s very common for People’s First sort of five to ten Investments to do extremely well uh in the world of Angel Investing when you’re for for great investors often their best hits come early like uh Chris Saka who’s one of the best early stage investors of all time his or one of some of his earliest Investments were basically you know the combination of Twitter Uber Instagram you know things like that and they came in kind of the first 10 15 deals that he did and I feel like that’s the only stuff he did like those were the hits and then everything he did so well he retired right he became a billionaire and essentially retired from the game because he was like well my first fund was like whatever 6000 x I’m good Sam said that in his first 40 deals um at that at that time he had invested in 40 deals um he was two years in and he said that uh five of the companies were doing really good and then it was like what’s really good mean it was over 100 x so what’s up that’s not really good that’s ridiculously good so what’s a what’s a fifty thousand dollar how big of it maybe 25 000 what’s 100 times uh 25 000 well you’re violating the no public math rule but is that 2.5 or 25 million so 50 000 turns into 5 million for 100x wow okay and so you stack five of those that’s pretty good right off that that was like okay where do you get all this money how was he doing all these deals was he just investing out of that 5 million and the reality was yes he was investing personally but um I texted a friend so I was like yo I’m looking up Sam open like did he write this check personally how did he get all this money and this is somebody else who’s young smart and friends with Sam and that crew and he’s like I think it was I think this check was personal this 375 million dollar check because I think so but it might have been an SPV and I was like um I was like dude I feel like there’s like some underground uh you know like team Prodigy thing where like there is if you’re if you turn 18 years old and you’re like a Phenom Peter Thiel just gives you 100 million dollars and I was like I was laughing and I was like you know I think you’re in that club too and he was just laughing he’s like oh yeah Peter does actually back it so I go and I Google it sure enough Sam Alvin right after he saw his first thing races a 21 million dollar fund from Peter Thiel they’re 100 is dude I know a few of these prodigies there is there is a club they exist so people talk about like uh like you know oh just like what do they say uh you know it’s that boys club and I can’t ever break into it unfortunately that’s true it’s real they exist you and I aren’t in that club maybe we have our own club but these type of like Elite clubs they’re real they’re 100 real so somebody said something they were like you know Sam they’re asking Paul Graham I think they’re like What’s what stood out to you about Sam because from the very beginning I’ve talked about this before from the very beginning I think 2007 2008 Paul Graham wrote a blog post about who are the five most impressive people he’s met in Silicon Valley or who does he admirer look up to or whatever and it was like Steve Jobs Larry and Sergey from Google and Sam Altman and it was like what one of these does not belong one guy invented Apple another guy invented Google who’s this kid I’ve never heard of and he was like um when I talked to Sam Altman I think oh this is what it would have been like to talk to Bill Gates when he was 20 years old and I was just like what an epic call for a guy who’s now gone gone on to do some pretty amazing things there was a story I’d never heard though or two stories I thought were pretty remarkable um I think there was a situation where at his school when he was in high school there was a protest from like the Christian or Catholic you know some some protesters that were like you know uh protesting the I forgot exactly what it was he’s from my hometown he probably went to he’s from St Louis where I’m from and uh he he went to a Catholic school if I had to bet I think it was a um I don’t remember exactly what the what the protest was but it was like uh you know uh here we go so basically um a Christian group boycotted an assembly about sexuality so they’re gonna have an assembly about sexuality at his Prep School John Burroughs yeah John Burroughs in St Louis and so Sam Altman basically takes the mic announces that he’s gay and then asks the school whether they want to be a repressive place or a place open to different ideas baller and and then baller right yeah and then the college counselor goes what Sam did changed the school it felt like somebody opened up a big box and then all the and then all kids of all kinds got to be let out into the world like you know it just kind of like it drew a line publicly that’s a really good uh way to describe it by the way and that is that is just an amazing story I love that story um he also talked about like okay I want to read you some other amazing quotables because this guy’s kind of remarkable and we just respect people who kind of like what you say let the freak flag fly that people who just like do life their way and their way happens to be different than like the craziest thing that he did was he did a speech about announcing something big and he wore two double popped collars that were pink and green I love that guy I thought I remember seeing that I like your old conference like a big deal a life highlight for most people um there’s all these amazing anecdotes from these these articles that I was reading so one because um so they got uh so they got in uh him and his brothers he’s got uh Brothers Jack and uh Max and so they uh one of them started this company called lattice and like you know he had some phrase about what lattice was doing and uh and so uh Sam invests in Asana the a different company and he writes this blog post about like you know just quickly you have the morning of kind of writes this um where’s this blog post where he goes uh how did he goes he goes he goes um yeah I uh you know I invest in a sauna because I think it’s great it’s gonna make people more productive because they do a b and c and it turns out that a b and c were like the same marketing material that Jack his brother was using for lattice and so the article’s talking about it’s like Jack’s like super pissed he’s like dude you just invested in them for the exact you know that’s our mission statement why are you saying they do it and Sam’s like oh dude like I’m so I totally I must have just totally spaced like I must have heard you say that so many times over the years that like it just kind of became like a a set of words I know I totally didn’t intend that edited edits it but Jack’s mad calls the mom and it’s like you know Sam did this and they’re and Sam’s like are you still mad at me or whatever and they’re fighting and then they’re like and then the end the story goes like uh like and then Jack looks over at a board game called Samurai that’s on their bookshelf in their home and says you know Sam won every single game of Samurai when we were kids and always declared himself the samurai leader because he’s he always has to win he’s always in charge of everything this is oh and then says Samuel been shot back you want to play speed chess right now know I read this and I was like that’s literally like if Chad I told chat GPT to like make up a story about like young Silicon Valley nerds who are compared of a competitive streak you know like oh yeah it’s called Alpha land you gotta take this outside and play some speed chess instead of see who’s the real man yeah that’s Alpha land in Silicon Valley yeah so I thought that was hilarious there’s another one that I thought was a kind of an amazing thing so did you know that at some point he basically sold what did he do he sold yeah so the The Story Goes he decided to get rid of all his uh you know Comforts except for uh you know three or four things so he kept a four bedroom house in San Francisco he kept his cars because he loves cars it was like a mclareness he has two McLarens and something else he kept a property on Big Sur in case the the world ends and um and then he has a reserve of 10 million dollars and he’s like the annual interest should cover my living expenses and I could just spend the rest of my money and the rest of my time trying to improve humanity and so he’s like I just whittled it down to what are the things I really care about yeah what do I need the essentials in my McLarens my 10 million dollar you know whatever and it sounds a little like trite because it’s like oh yeah dude like that’s it but in reality like if you know people in Silicon Valley like there’s a never-ending appetite for more more Fame More Money More Everything um and I actually think that somebody who can sort of figure out do just accruing these these money points doesn’t do anything past a certain score so what am I going to do with this money in my time to like make sure I use my you know my time on this this little blueberry cold Earth to the best Advantage right so I I like that he had that another thing that he said about being a prepper that I think you’ll like let me read this quote to you uh dude I think he like didn’t he like wasn’t he like saying you know in case there’s like a pandemic or something like that I want a place to go to exactly exactly so um so somebody goes like he goes up to this is the story he goes with these guys at this uh conference or like whatever at this Meetup or whatever he’s like so what do you guys do they’re like oh we just kind of work and whatever like what do you do for fun he goes well I like racing cars I got five cars I have two McLarens an old Tesla uh I like to fly rented planes all around California oh and uh one weird one I like to prep for survival and they’re like survival what he goes he goes yeah I have a lot of friends that are constantly getting drunk and telling us telling me about all the way that the world’s all the ways that the world’s gonna end and I read that this Dutch lab had modified the uh h5n1 bird food virus five years ago and it was super contagious by the way this is pre-pandemic right it’s pre-covered so he goes I read about this lab that was modifying this thing making it really contagious and I realized that the chance of a lethal a lethal synthetic virus being released in the next 20 years was well non-zero and non-zero that’s such a that whenever I hear that phrase that that’s like oh you either are smart or you’re trying to be smart either way you’ve got my attention dude I have another one that when I was reading this he kept saying orders of magnitude orders of magnitude I love that I just decided that that’s going to be the name of my gang and so if you want to join my gang it’s called orders of magnitude and we [ ] [ ] up at levels the next previous level dude I’m gonna have like the the sub committee on that we’re gonna call it parabolic or something like that like I’m just going to come up with like crazy names like oh you guys want to join the exponentials or not exactly oh yeah it’s the orders of magnitude that’s the Crips and bloods we’re gonna say exponentials um so then he also says this before opening he goes the other one is that that AI might you know get really powerful or be used to attack us and Nations will use it and then people were getting he goes he goes you know I try not to think about it too much but I have guns gold potassium iodide antibiotics batteries water a gas mask from the Israeli Defense Force and a big patch of land and Big Sur that I can fly to if the world ever ends that’s crazy what a baller there’s also a story of him walking around with Brian chesky Brian chesky was about to uh pitch at YC and this is Brian chesky started Airbnb Airbnb it was just getting going and Brian was explaining the idea to Sam he goes yeah yeah that’s cool I think it’s great can I see your presentation he shows him the presentation he goes yeah I think we can make like 100 million dollars a year doing this he goes Brian do me a favor can you add a zero to every single number that you have up there I need to see a billion in Revenue not 100 million just change all your M’s to B’s yeah take all your n’s to B’s and uh that that’s good that’s actually going to be my new boy stuff as we say sam you just needed our phrase no small boys change all your M’s to B’s I used to work at this office and they took the exit sign so you know how there’s exit signs and uh at offices like above the door they changed the exit sign to say uh they like molded it in such a way so it said IPO so the exit was an IPO so oh it’s the IPO side the exit side uh and I always thought that was awesome and we need a new sign that says change it change the ends to B’s and uh that’s what he did with Brian chesky when he was Fire Marshall would like a word but yeah the only North Will Survive only nerds will get that joke so he had another um he had another um quote about that the m2b thing he goes he goes he goes look I listened to your whole presentation and uh you need to change that they’re like are you sure and he goes look either you don’t believe what you told me or I’m dumb and I didn’t understand what you told me or I don’t know math one of those three is is what’s true here like either you’re ashamed to say it you don’t believe it or I’m dumb and I don’t know Matt and I thought that’s great that’s a pretty baller way to say things um I want to read you some of the other uh little like you know isms okay let me give you some more so uh here’s some like quick chat advice so so I’m pretty into my meme of the year is that what I call the midwit meme uh you throw this up on YouTube so you can see it but it’s basically like there’s the dumb the ignorant kind of beginner on one side there’s the Jedi Master on the other and every in between is the kind of sort of like stressor type A personality that’s like over analyzing everything and my goal for the for the year slash life is to live life like either the dumb beginner or the Jedi Master it doesn’t matter they think the same way um and so and and not be the stressor stressor achiever type A over analyzer type person and um and I’m just seeing that Meme everywhere when I meet people I just classify them instantaneously so are they being right now what do you think you’ve been historically um I started off for sure as the dumb the dumb troll like my first my sushi restaurant startup that that was the greatest thing in the world my next thing yes uh even just when I applied for my job and moved to Silicon Valley and got a job with a billionaire like I didn’t know what the hell I was doing but I was so dumb that I like my Approach was correct I was like well I’ll just I’ll just reach out to the guy and I’ll just send him a letter saying why why I’m the right guy for the job and then I’m Not Really Gonna apply for other jobs I’m just gonna prove to this guy this is I’m good at this job and I just that was my job search right like I didn’t do any of the traditional things I just did seemed like the dumb thing to do but that would also be the Jedi move too in that case it’s like uh you know find the thing you really want and Chase it with Reckless abandon don’t like just put a resume on 500 desks and see who calls you for the job um so you know I’m still a mouth breather I think I’m still pretty far left on that on that I’m still pretty stupid yeah I do it from time to time I’ll often do it with my econ Biz like um Suli is my like kind of like Mentor coach on that side and I feel like he’s the Jedi guy I know he’s the Jedi guy because he’s like he said something about Frameworks he goes everyone in Silicon Valley talks about Frameworks I don’t know what a framework is and um at first I used to think maybe I’m too dumb like should I learn this thing I don’t understand what everyone’s talking about and now I realize they’re all dumb he’s 100 right like uh I’d be like you know hey should we do influencer marketing for the brand blah blah blah he’s like remember I told you Facebook ads just write the word Facebook ads on your computer and then every time you think about doing anything else besides Facebook ads look at that sticky note again that’s hilarious and he’d be like um if you’re gonna call me and talk to me about another idea you better have to be doing 500 000 a month and don’t call me about another idea until Facebook ads has got you to 500 000 a month and it’s like the Jedi Simplicity is something I like you know Revere now so he had a few um a few Jedi quotes in this imma read you he goes uh Founders will come to me and be like oh you know what what if um you know I’m worried about saying this to my investors because then they’re going to think this that might affect our Series be raised he goes just tell them and then he goes uh people are worried about you know you don’t know how your customers are going to feel about this just ask them um you’re worried about competitors don’t worry about them until they’re beating you in the market um and he’s like oh you want to do these five things you’re trying to decide like just pick one and do it most people just simply do too many things do a few things relentlessly another one he goes you need to every every year you need to think about how you’re going to add one zero to what you’re doing but don’t think Beyond one zero and I thought that’s a good jediism it’s like a way to think it is great without being kind of like just a delusional talker and like you know living in fantasy land um so you had a bunch of those as I was reading this uh that I thought was was pretty dope he’s um he’s great man he I always see pictures there’s that famous conference in Idaho like the Sun Valley thing and you’ll see pictures uh oh no the rich guy one the rich guy one it’s like we’re like it’s almost like a Davos but or something like that but it’s like all like the who’s who I think it’s mostly media though which includes everyone so like the Murdoch family and like the people who run CNN and and you see like you know uh there’s pre ex-presidents there and then you see Sam Altman and he’s wearing like cool running shoes with like cool sunglasses and like his hair is all disheveled he is uh he’s very he’s a very interesting character Sam offman’s cool he’s kind of been like uh a little bit under the radar while he’s been building his company but he said something the other day uh someone was like we’re really hyped about gpt4 can you tell us he goes all I can say is like people are setting themselves up for a lot of disappointment I don’t think we’re gonna live up to your expectations or something like that and I was like oh that that’s a pretty cool response now now I’m interested yeah he goes with he goes with AI there’s people who think um AIS changed the whole game and everything Google search is dead AI is going to change everything gpd4 is going to be like you know freaking uh sentient and whatever it’s gonna be amazing he goes that’s that’s wrong and people who think oh chat GPT this thing’s overrated it’s a big nothing Burger it’s uh you know look it makes this mistake it makes this mistake it can you could trick it into saying this stupid thing he goes they’re also wrong they’re also being dumb but in a different way uh you know they’re being dumb because they’re not realizing how fast this thing’s gonna improve and the other guy’s being dumb because they think it’s already there but it’s not there yet uh you know the truth is like somewhere in the middle and um I just thought that was like a you know a much better like reply I also thought there was like a couple of kind of remarkable little things that I want to share as well things that I didn’t know about Sam Alderman so that first fund that Peter Thiel gave him 21 million dollars for uh in I think three years or so let’s see three years or so he had the fun uh the four years the fund was up 10x already um so you know that’s like what people want after like you know a 10-year period in in four years he had done that um the second thing was how did he do it he made like pretty ridiculous bets so he he was like all right if I want to if I want to help create like you know trillions of dollars of progress that’s going to come from Science and Technology not just like the next random app and so he’s like uh all right I gotta invest in more science technology so he goes for he goes to Cruz uh which was a self-driving car company that eventually got bought by GM for a billion dollars but at the time nobody was funding Crews nobody was funding self-driving cars um it just seemed too hard like Hardware seems like an obvious bet now looking back right I mean that team was like a plus completely non-obvious back then and they were struggling he puts three million dollars directly into that one company and the same thing with this 375 million dollar check that like the lady was like most people can’t write that big of a check he goes especially not into an extremely risky thing like nuclear fusion and it’s completely right like that’s going to be like you know a zero or massive and he’s writing massive checks into it and he did this several times he puts like millions of dollars into single bets that he like had conviction on he then reflected on he goes of all the biggest winners um uh he goes I looked at the five biggest winners that I have had in that early portfolio he goes four of the five nobody wanted to fund they were not oversubscribed people generally thought they were bad ideas in fact I almost got talked out of doing them because smart people were telling me why these are bad ideas only one optimizely was an idea everybody thought was a good idea that turned out to be a good idea it didn’t even do that well I think well it did okay I think optimize it did go public I think in the end so you know it didn’t make it but um maybe maybe I’m wrong about that but like I thought it got bought by pe but like it was it compared to the other oh no it says they have a thousand employees I’m wrong yeah it must have been a hit so so uh the other ones you know zenefits uh Cruz um you know things like that uh basically he was like stripe he’s like at the top now Stripes everything but he’s like at the time it was 18 year old kid saying we’re gonna like work with banks and change the payments industry and they ever Do’s like these guys don’t know what they’re getting into except for like you know a handful of people that believed in them same thing with Airbnb he was early investor in Airbnb that was not obvious so he kind of got really into this like non-obvious but correct mentality which is the the Peter Thiel like school of thought too like um he’s like the Investments that didn’t work out people also told me those were bad ideas so it’s not that all bad ideas are good ideas it’s that some bad ideas are actually great ideas and that that’s where all the returns are and so you need to be willing to go where it’s unpopular which is so easy to like talk about and it sounds like oh yeah just do not obvious things therefore any bad idea I see I should invest in I get so many bad ideas and I think I would say no these are actually all bad ideas that’s such a challenging thing to figure out that’s that requires so much talent or skill I don’t know what it is but it’s really really really impressive and really hard because looking back Airbnb that sounds that sounds incredibly obvious but uh it’s just crazy that he was able to pull that off yeah it’s insane so anyways that’s a giant you know Sam Altman gasm but uh the guy’s just really interesting he’s one of the more interesting characters I think that exists in the tech world so uh so yeah I like some of those quotes I think this was a 10 out of 10 pod you know so here’s how I know it’s a good pod so it’s a 12 30 in Texas where I’m recording this usually I go and take a nap till about two o’clock after we have a good pod um I I require I require sleep and rest and that’s how I feel after this pod I’m like I need to take a nap and that’s how I know it’s good all right great glad to hear it um oh and by the way I’m gonna uh show my tax return on the YouTube channel go subscribe and then you’ll see it go my first point on YouTube if you want to see it yeah and if you find the glitch uh you might be able to see his uh social security number it’s somewhere in there