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 your random tweet about your mother-in-law gets to him and he writes back dear Smithy sine both Bad Bath and Beyond and myself would like to invest in your business if these are your designs they are outstanding and then the best part and believe me I know [Music] pillows all right we’re live Sean I’ve got three stories I want to tell you about to kick today’s episode off you ready I’m ready first one years ago this is going to be fast years ago I was trying to get this one entrepreneur who is the CEO and founder of this very famous Media company that I’m I’m not going to call out and he ignored me he never got back to me I probably sent him 15 emails well I’m currently in Brooklyn staying at an Airbnb right now for a couple days not in Airbnb a different service and um visiting family and I log on to the nflix on the TV and guess whose house I’m renting right now that guy I am currently staying at his house right now should I do anything to like is there anything like should I look something up on YouTube so when he goes to his YouTube account he sees it like do the most the whatever the what is the most Petty thing you could do like just change his Wi-Fi password just send him for a loop he’ll be like what what is happening right now I don’t understand this so I’m in his house so I like go to I go to Netflix and I see his the image for like the or I go to some YouTube account or something and I see the image for like the thumbnail image for his account and I’m like I know this person and then I start picking up the other details I’m like oh he’s logged into all the stuff I know exactly who this is so I’m gonna have to figure out a way to get his attention it’s going to be borderline creepy regardless of how I do this even if I do it in the most tasteful way but I’m GNA take my shot I’m going to leave this guy a message it’s not mean I’m very happy I’m happy but I’m going to leave him a m message hey man uh really love the place I’m trying to pee in the sink but there’s no stool do you know where you keep it yes I’m G have to do something the second story that I’ve got to tell you about is that we need to get our people listening to this right now to subscribe we just crossed 400,000 followers you tweeted out that we’re gonna make out when we get to a million is that right no I didn’t say I did not say that I said specifically these other podcasters made out when they crossed 50k and it’s a very uncom video watching them in slow-mo kiss and he’s like the GU kissing they’re kissing each other and one guy’s like resisting it and the other guy’s like trying to do the BET and he’s like I’m just getting teeth there’s just teeth can I can you can you move something I just I’m just getting a lot of teeth right now and by the way it’s a finance podcast yeah and the video that they make out on it barely has any views and they never like it barely worked that is the funniest part of the whole thing was when I saw that the video has 25,000 views I was like my worst nightmare is not that I have to make out with you it’s that I made out with you for the YouTube content didn’t go anywhere which is exactly what would happen if I tried to you know oh this will definitely you know go viral and then it does it by the way there is a number for everything I don’t know if a million subscribers is that number but please sub number ends in the word subscribers either I think the number have dollars instead of subscribers but there is a number so if you’re listening on uh through the podcast apps just go ahead go to our YouTube And subscribe the the comment section is pretty fun we read every comment all right everyone a quick break to tell you about HubSpot and this one’s easy because I’m going to show you an example of how I’m doing this at my company when I say I I mean not my team I mean I’m the one who actually made this so I’ve got this company called Hampton you can check it out join hampton.com it’s a community for Founders and one of the ways that we’ve grown is we’ve created these surveys where we’ll ask our members certain questions that a lot of people a lot of times people are afraid to ask so things like what their net worth is how their assets are allocated all these like interesting questions and then we’ll put it in a survey and I went and made a landing page so you can check it out at join hampton.com wealth you can actually see the landing page that I made and the hard part with this is with Hampton we are appealing to a sort of a a higher-end customer sort of like like a Louis Vuitton or Ferrari so I needed the landing page to look a very particular way HubSpot has templates that’s what we use we just change the colors a little bit to match our brand very easy they have this drag and drop version of their Landing Page Builder and it’s super simple I’m not Technical and I’m the one who actually made it and once it’s made I then shared it on social media and we had thousands of people see it and thousands of people who gave us their information and I can then see over the next handful of weeks this is how much revenue came in from this wealth survey that I did this is where the revenue came from so it came from Twitter it came from LinkedIn whatever it came from I can actually go and look at it and I can say oh well that worked that didn’t work do more of that do less of that and if you’re if you’re interested in making landing pages like this I highly suggest it look I’m actually doing it but you can check it out go to the link in the description of YouTube and get started all right now back to MFM the third story I’ve got to tell you so I said this story a little bit I haven’t given an update on it but about three years ago my mother-in-law who loves to sew she previously a long time ago like used to even sew wedding dresses and things like that for friends but uh now that her kids are grown and out of the house she starts sewing again she goes Sam I I think I want to start a business online can you like can I drive to the airport and uh you can like tell me how like the internet works basically and I gave her free ride to the airport sweet yeah yeah and I gave her like the most highlevel like advice ever so I I can’t even remotely take credit for this because it was basically like well there’s this thing called Shopify like that’s basically what the advice was and like there’s a thing called The Funnel where you get like this many eyeballs and a percentage of them buy whatever the most basic thing ever well 3 weeks after that she sends me this website I’m like Smithy this website looks beautiful is they named your company the same name that you were gonna name your company though what the hell and she goes that’s my website and I’m like what she’s like yeah in fact I already got my first sale uh and I was I was I was blown away well fast forward three years ago she’s done over a million dollars in Revenue she’s doing High six figures I think or she did High six figures in 23 and what’s the store so it’s a it’s a pillow store right what is the name of it it’s smithy’s pillows or something so her birth name and the name of the store is slightly different so her name is Smithy but she smells her spells the store’s name Smithy with a Y so the word Smith with a y at the end and then uh home the word home and then Co cotor so c u t r e if you go to her Etsy page that’s where I think a lot of her sales come from you’ll see on her Etsy page I think it’s like 8,000 or 10,000 sales so basically what she sells is like really high-end throw pillows which is as a young man I was like throw pillows who the hell buys that well women love throw pillows do you see how does say how many sales cuz they’re on the bed and then you have to throw them on the ground whenever you want to use the bed that’s what is the name for I don’t really understand this but I do see do you see that pillow you see that pillow you have behind you in that leather chair oh I got a throw over here okay you have a throw that’s a throw pillow they’re decorative fancy pillows 9,685 sales so that’s how many transactions she’s had or how many customers she’s had check out so almost 10,000 star seller five star review very cool and then she so she’s hand making these no yeah well she now she has a little wehouse in New Jersey and she’s got like four ladies like sew it I just I just imagine her just like what was that movie where they like my fingers hurt from sewing well now your back’s going to hurt you just got Landscaping Duty uh yeah she just has like these four like stome moms or I guess moms who aren’t working anymore but like the sew and they have part-time work sew in these pillows and then she’s got like the UPS guy coming to her office every day picking up these pillows she’s got like a legit small business and I’m always like SMY scale scale scale spend more look at this uh the store if you go there every pillow says $2 under it and I’m like $2 this incredible deal then you go and it’s like no $2 is for the Swatch sample if you want the pillow it’s $79 so I think that’s uh definitely bringing a lot of people in I like it it brings a ton of people in and uh they’re great pillows I have them all over my house and people love them it’s high quality stuff and so I’m like Smithy you got to grow this thing scale scale scale and she’s like nope I’m really happy with how it’s going and my my mother-in-law have you ever seen a photo of her no have you seen a photo of my mother-in-law no that’s just not a thing people do well I tweeted out pictures of her I tweeted out pictures of her and so she’s like a very pretty woman she like I call her like the Haitian Martha Stewart like she’s always really well put together she just like dresses nice all the time so very charismatic like good energy type of person I tweeted out that story two days ago or maybe yesterday I tweeted out that story the Tweet got like viewed by like quarter of a million people but that guy Marcus from the propit what’s his last name uh leonis something lonis he’s now he’s on that TV show The Profit I think he’s the CEO and founder or CEO of camping world but does like a multi-billion dollar RV business and he’s now on the board of directors at Bed Bath and Beyond so I think you just you said that whole sentence so casually like yeah I tweeted this out and then that guy Marcus from the propit replied do you know Marcus what what do you mean the guy from The Prophet replied like how did this even happen no idea I have no idea who he is I mean I know him as a celebrity I know him as a celebrity but I don’t like I’ve never spoken to this person in my life your random tweet about your mother-in-law gets to him and he writes back dear Smithy sine right her her name yeah both Bed Bath and Beyond and myself would like to invest in your business if these are your designs they are outstanding and then the best part and believe me I know pillows and then the way that he originally communicated to me was he replied so he he tweeted that on his own like in front of his old audience of like 600,000 people he replied to my tweet and he goes um contact me I would love to sell this in Bad Bath meon and I I go here’s my email he emails me it goes straight to spam for some reason so I’m thinking like this might be a what I don’t know is this really you so anyway I connect him and now they’re meeting and he shared it on his Twitter that he wants to like meet her pretty right so like I better be I I better get the [ ] will for this one I deserve something yeah you’re gonna get like a loaf of pumpkin bread but um still pretty good yeah son-in-law of the Year Sam par I did not know that’s what you were that was the New Year’s resolution good good job this is crazy that it got picked up like that and good you know good for her this is such a cool story of you know how old is she right she’s probably in her what like 50 yeah she’s in her 50s and basically her you know uh my wife is uh uh 31 and then her other daughter’s 27 and so she was just like my kids are grown I I’ve got time what what should I do and she loved to sew she always had an entrepreneurial Spirit her husband is an entrepreneur as well and she helped run their moving business and they were like let’s uh you know my husband’s retired I’ve got free time I got to figure out something and she she just starts sewing these pillows and she had the gumption to go and get this website built for like $3,000 like she found a developer to make the website she gets on Etsy and she I teach her when I say teach her I I don’t actually teach her I was like yeah I think I bet I was like I bet you Etsy has a way that you could run like a hundred bucks worth of ads she runs like $100 worth of ads and gets a handful of customers and from there she spent no money basically on marketing I’m like how much you spending on marketing she’s like 300 bucks I’m like a day she’s like no no no like over the past like two months uh and I was like scale that suck her up baby and she’s like nope I’m happy with the workload this is fine it’s going good I like it and her customers are coming back and forth now what she does is she goes into all the door building or the in New York City there’s Fancy highrises with Dorman and she goes to all those buildings and they’re buying their her pillows to put in the lobbies of the so she’s got like these like contracts wholes cont what I was going to ask you because most annoying thing in the world for me is any business story that’s like I had this idea and then it worked it’s it’s like yo yo yo what about the middle part that I’m going to have to do of like getting it to work what what did you do how did you actually get the initial sales so do you know was it just post on Etsy and Etsy brought some traffic or did she sounds like maybe she went door to door and kind of was showing her product to some people well she did what she did what a lot of like she she she didn’t do any like crazy hacks she basically had uh like 10 or 20 friends including me like buy her pillows at Cost through Etsy we left a review she started getting reviews she ran like I literally think it’s $100 worth of ads the customers loved the pillows and they started telling their friends about it and it was mostly all word of mouth and then now she starts going to these dman buildings to get more sales but it was a very Word of Mouth business so like I’ll be with her and like customers will call her and she’ll just pick up her cell phone and just talk to them I mean it’s it’s like a small business where there’s not really any hacks it’s just been W to mouth dude so many amazing things about the story I’ll tell you three of the amazing things number one that you tweeted this and it got in touch with uh the guy from Bed Bath and Beyond who’s going to now get her to bed bath number two your mother-in-law in her 50s decides to like just like start a business become an entrepreneur that’s the second most most impressive thing that she took the action and actually did it how many people do you know that would love to do it but count themselves out she didn’t count herself out I really respect that number three um that she found her version of enough it’s hard enough to win the even harder part is to actually enjoy the win and not let the win turn into a loss because you you start to stress out and try to keep up with the thing or try to grow it try to keep going because you feel some stupid pressure to keep going so being able to say no no no this is how I wanted my business to run on her terms even more respect for that and actually I got a fourth bonus one this guy saying and trust me I know pillows I am now gonna end every tweet with some version of that like if I’m like hey I really like this app and believe me I know a thing or two about apps like what a what a gangster just style of speaking I love this guy I’m totally stealing this you’re G to see this my next 10 tweets I’m going to end like that it’s like when Trump used to end twet with like the emotion like instead of emojis he would be like you know the border is not safe sad point he would always end his tweets like that well it’s kind of smart to this guy this guy probably has no idea who you and I are and he doesn’t give a [ ] but he probably saw the engagement of the tweet and he’s like well if I could like pounce on this and just get like a little bit of like interesting press like this could or not real press but get impressions like it could be worth it to them and who knows if I told Smithy I was like have your hopes love like who knows if this is going to work out it’s a huge company even though he’s on the board or whatever he is like that doesn’t mean anything’s going to happen I don’t think you need to be given her advice anymore I think she needs to be giving you advice from now on well I agree I agree with that I was it was a little more therapist session although she doesn’t need that but it was more like oh who knows you know I don’t want you don’t get your hopes up all right well Sam makes the will congratulations dude yes congratulations to me I have a a bunch more interesting stuff do you want do you want me to dive in yeah yeah give me another one there’s these ads I’ve been getting and it’s buy this company called mad muscle so you actually it might be easier if you just go to Facebook ad library and type in Mad muscle and they have these animations it’s the it’s a popular ad I see all the time where it’s these cartoon looking guys one picture is like a guy with kind of a beer belly at 20% body fat and then a guy that’s ripped at 10% and like it’s very eye-catching ads that grab your attention and they have got these other ads where it’s like a guy doing a bicep curl very catchy ads they’re very catchy ads I get this ad like crazy and so I was curious who’s behind it and I found an very interesting thing I do this with every ad that’s catchy I go to the website I scroll all the way to the bottom where it says like trademark and then it say like the real name of the company and then I’ll research the company so check this out there’s these two guys in Ukraine they started this company when they were 25 their name is Ivan and Demitri originally the company was called well the whole holding company is called Amo Soo but they’ve got three arms of the business and the first part of the business was Amo publishing listen to these numbers so they kind of created like these these uh little click baity like news websites and then again eventually they geared it toward moms and so they have headlines like elderly couple divorces after 53 years of marriage later man sees ex-wife dating in a cafe and it’s an article then they switch to Facebook videos and they get crazy viral and so at this point they have 53 million followers on Facebook they have this thing called Amo Mama which has 14 million they have Amo Nostalgia they have Amo news it’s almost sort of like I guess you could say like a [ ] Jerry where it’s like a social first news company they get huge they get 53 million followers from there they create this thing called Amo pictures years or not years ago but a few months ago you mentioned these guys have soap operas on YouTube and that is exactly what Ivan and Demitri pivoted to next so they created this YouTube channel called dramatize me dramatize me has 2.4 million subscribers and 500 million views so a lot and the average video is something like 20 or 30 minutes and these it’s these actors like acting out a soap opera and you could you could tell that a lot of the stuff is dubbed so they film it one time and then they have uh dramatized me in different in different languages and so they have different page for each for each uh language from there they started launching these apps and so their first big app that they launched it was to help women exercise on their periods which I guess when you’re menstrating I guess like you feel crappy and you don’t want to work out they created an app that helps you do that that’s got to be the hardest sale to make it’s like yo what kind of extra degree of difficulty did they take as an entrepreneur it’s like we are going to help somebody do something they don’t want to do right at the time that they don’t want to do it wow yeah I don’t know I you know I I obviously I don’t understand that that how that feels but I guess there is a need then they launched this thing called yamal which is a healthy meal plan app that costs $20 a week so clearly they must have high churn if they’re charging $20 a week right off the bat and then from there they create mad muscles which is the thing that I saw so their website this website for Mad muscles according to similar web is getting 11 million visits a month it’s insane wow 500,000 followers on Instagram and the app has 35,000 reviews and so these young guys they started this company when they were 25 uh just like four or five years ago according to LinkedIn they now have close to 400 employees in Ukraine these young guys that nobody at least in America is talking about have this massive media Empire in the middle of Ukraine and they are like the scrappiest people that I’ve ever seen because they’re just like Laing stuff and they’re like oh that works let’s do this spinoff oh looks like they all have a similar problem they want I guess to work out we have we have a lot of middle-aged women they want to work out on their periods let’s create this thing oh looks like workout apps was cool let’s create one for men and they are like it this is an example of what we’ve talked about many times of these just like Scrappy people who just they’re I don’t want to say soulless because that sounds negative but they just follow the numbers like crazy and they don’t overthink it what what’s that Meme that you were talking about the other day it’s called like the the mid whip meme which is like the in the middle it’s like create a beautiful product study the market whatever y y y the one on the left with is the idiot it’s like H Just Launch it and just keep iterating and just do whatever the customers say and the you know the smart person also says that launch it and see what works yeah that’s exactly what they’re doing these guys it’s are it’s so fascinating how they’re running their company this is a crazy find good on you props Sam with a s par special finding the random app in the Ukraine or this company I am impressed and Confused I’m impressed because clearly these guys are awesome and they’re smart and they’re figuring stuff out and they’ve built a really cool set of products and uh what looks like a pretty cool company um I’m confused because I’m like they are doing four separate hard things at the same time and I’m confused about that strategy but you know this is actually pretty common when it comes to to startups in Eastern Europe I I’ve actually seen this several times which is because they don’t have a lot of venture capital it’s like bootstrap driven and so they make businesses that are working and one business like unlocks the next or they discover the next opportunity or maybe one Taps out but it’s still good enough to stay as a business and so they end up with this like conglomerate of like four different things and I’ve seen this like 10 times now so I’m actually not surprised that this is what’s happened here but to go from publishing to then their pictures arm which is like you know their their Hollywood arm or whatever that’s making movies and and shows or whatever to apps you know like those are not related really like you can kind of squint and be like oh we use the media to promote our apps okay cool but what about these like YouTube shows like or just in general like maybe just spend money on Facebook ads and don’t do all the other stuff so I am I’m simultaneously impressed and confused by this well first of all I was not able to find any news about them there was just like even in Ukraine and Russia there was very little information about them I’m like what is going on this app has 35,000 reviews I can’t find anything about them I had a search to find the owner I eventually found their LinkedIn uh profiles but it was really really hard and whenever I that happens I’m like all right I’m interested I gotta figure this out you can tell how successful an entrepreneur is like there’s many ways let’s say I said Sam I’m gonna give you an hour locked in a room with this entrepreneur you have to figure out if they’re going to be successful or not or how successful they’re going to be and there’s many questions you could ask them there’s many uh you know like you know ways you could quiz them to try to see if they’re good or bad but one signal that just really never fails if you go to their um like videos their pictures um section and you go look at some of the thumb uh the titles and thumbnails for some of their things it’s exactly what you talked about and people who do this these people never lose so here’s the first one because they don’t give a [ ] girl send girl sent selfies to her boss and that she’s looking like worried next one gender reveal went wrong question mark third one right like grandpa in the gym dot dot dot nailed it and it’s like these are things that human nature must click and must watch to find out how the payoff is and this is like universally broadly um appealing content right people love to hear see the heartwarming thing or the gossipy thing or the like you know the major screw up in some high stake situation those are things that people have to watch and you know that if somebody is creating content like this it’s just a matter of time until they create a product that goes mainstream because they understand what makes people tick and what’s going to get the click and what’s going to get the conversion and eventually they’ll stop making silly videos or they stop writing you know funny tweets or posting on a meme Instagram page and they’ll work on a bigger product and I see this all the time I see this with younger people but just in general um if you’re running that that goofy uh you know like a Tik Tok account that’s going viral it makes no money but you figured out how to get people to watch your videos what makes people click eventually that’s the same person that’s going to have that really successful D Toc brand or create that app that goes you know to the top of the charts because they just get it when it comes to human nature well I remember when um I first started the hustle we we got 50,000 subscribers in a short amount of time and Tim Chen was the founder of nerd wallet nerdwallet’s now a publicly traded company they write like articles for the best credit card or whatever and he was like Hey I want to invest and I’m like you don’t even I was like dude I don’t even know like how we’re going to make money and he was like well look I know enough to know that if you’re good at getting an audience making money off that is actually easier and I was like what what are you talking about like this this wasn’t that hard to do he’s like well it’s hard for many people and nerdwalt is kind of that that answer where it took them three years to get to like I think five million or something like that in Revenue but in year four they got to like 30 million in Revenue because it took them three years to rank and Google for people searching best credit card it’s one of the hardest terms to to rank for and now I as I’ve grown and I’ve understood this that if you can get an audience and you can get eyeballs as long as they’re ideally it’s a math equation where it’s like you want it’s like a the equation would be like values equals the amount of influence you have over them times their spending power multiplied by uh the amount they’re willing to spend uh if you can like do maximize that equation you can build a big business and actually making the product often times is easier than getting the audience 100% And um people who understand how to get an audience they’re going to win it’s the same way that uh when I meet people who are like Elite at a video game like a like a a hard a worldwide video game it’s just a matter of time till they’re fatigued of that game and they decide to play the next game called business and guess what the same you know willingness to grind ability to F figure out the meta strategy ability to coordinate and collaborate with their team and communicate at very fast speed like that’s all going to work once they once they just pick a different game um so it’s like you know that or the the sneaker flippers the eBay flippers you know when we started this podcast it’s called my first million I was interviewing people how’ you make your first million and one of the things I always asked them my one of my favorite questions is if I had you know if I was filming a documentary of you back when you were 13 12 13 do you think I would have known that maybe you would go on to do such interesting things like was there anything would I have seen at that time you were doing something unusual for a 13 14y old and at first the reac is like no I was just a normal kid but then you ask you’re like so what were you doing for fun and they’re like well actually I was uh you know my neighbor had these extra golf clubs and uh so I actually realized that you could sell them on eBay and so I was I would go to old people’s houses I would knock on the door ask if I could see their golf clubs and I would buy their golf clubs to go flip them on eBay you’re like okay it’s just just a matter of time until you elevate from flipping golf clubs to whatever it is SAS software whatever whatever the next the bigger game is but that’s like such a high like likelihood of success are so highly correlated with with success um for people who have that background all right let me can I go can I give you one more we’re GNA do one more a little small business one yeah let’s do it all right so go to this website called it’s dumpster enterprises.com all right so should I is this sa for work okay here we go it’s safe it’s exactly what it sounds like so this guy joined Hampton and I saw that his uh company was called dumpster Enterprises and I was like dude what the hell is this tell me everything about this and so I was like we’re on the record I want to talk about this in the Pod so whatever you tell me is that okay and he’s like yeah I I would love to do it so I got his permission and so this guy named Ian uh his background is basically that he he learned a little bit about SEO and web design and he started making like just a handful of like how to make money websites and it was like H this is all kind of only going okay and so he like randomly met this guy because he was trying to rent this guy Ian was trying to rent a dumpster and he started like looking up the best like vendors to find in order to bring like a dumpster to his house we’re talking like dumpsters when you move like you want a little bit of a bigger dumpster to that you keep for like two weeks and he meets this guy and he’s like dude I don’t know how to do any of this SEO stuff but I know all these vendors that are similar to me and this guy’s Ian like well can I have the vendors and maybe we can work out a deal where I’ll like pay you for like giving me this vendor list and so he does that and so after two years he builds this website called dumpster enterprises.com and if you scroll down to the uh our notes document this guy was pretty crazy he gave me his full p&l for 2023 and I was like can I can I read this he’s like yeah I don’t care so he gave me his full p&l so in year two of the business he did $2.1 million in Revenue and the way that the business works is he ranks a little bit on search it looks like he only spent $26,000 in U advertising and marketing so he’s not spending that much money on ads but some money in ads and so he did 2.1 million in revenue and the way his business works is you type in which area code or zip code you need a dumpster in and then he forwards that lead to a handful of vendors or dumpster providers that he has vetted they pay him let’s say $100 for that lead he’s able to profit 50 because that’s how much it costs him to get the leads and he made about it looks like he paid himself but the business also made about $280,000 in profit and he was like this is a business it didn’t take me a long time to set up he goes I I work a few hours a day and I travel a lot and it’s like it’s a very it’s kind of a a business that’s been on cruise control a little bit but I saw this and I was like dude there’s a freaking business built in every Niche that I never even would have thought and so this is like a little little example people in our YouTube comments criticized us for talking about like big companies billion dollar100 million dollar companies I wanted to give an example of an interesting small business we’ve done that twice smiy uh home Couture and now dumpster rental Enterprises this is super cool this is a a good blueprint by the way we’ve seen this now several times here as we’ve been doing the pod which is you take a industry that is well established and local like it could be dumpster rentals it could be um you know uh Road painting or parking lot painting it could be senior living facilities where they need customers but the typical owner of those businesses knows nothing about SEO or sem and if you just say cool I’ll create the website that just does the lead gen for whatever it is and you’re like I’ll bid on the Google keywords I’ll create the easy to use website I’ll grab the customer contact info and then I will pass you the lead and you’re going to pay me some fixed amount per lead that’s it’s just a blueprint we’ve seen work over and over again and it works even better the higher the ticket right so like Senior Living For example the people who people will end up spending hundreds of thousands in rent over you know a three or four year time period of of of you renting a bed in in a facility or pool construction it’s like a you know $30,000 project or something like that and so we had a friend you and I had a friend or I don’t know if you knew him Dave gplat he had swimmingpool quotes.com and he was making 2 million a year getting and it was basically like he only made his money four months out of the year and so the the other months he would just chill without having to do the swimming pool stuff right he’s not actually going and doing the thing right it’s like the that quote you know like the biggest taxi company taxi company in the world owns no taxis the biggest hotel company in the world owns no hotels like Airbnb or Uber well the medium the medium siiz the most medium po pool Mogul makes no pools builds no pools um and so you know High ticket and then if that how old school that industry is so how much of it is Mom and Pop operators who don’t know how to do Google ads and don’t know how to do SEO and that Arbitrage right there is like such a formula for a510 million do business that you can build by yourself working you know very it’s a very good lifestyle business it’s not hard work you don’t need a big team you don’t need a lot of funding you don’t need any of that but sometimes they can be huge so I’ve been doing research in this industry for a long time because I was obsessed with Trucking I I talked about a ton I almost went into that business business and there’s a bunch of people who are doing it for Trucking meaning uh the trucking industry truckers right yeah so the trucking industry has a huge short there’s a a shortage of people who have their commercial driver’s license and so if you can get someone who has their commercial dri’s license and send them to a trucking company they give you this massive bers fee but the biggest industry that I found that this works in is lawyers so I found there’s like a site called like superlawyers.com that’s owned by Thomas reuter it’s a huge multi-billion dollar tens billions of dollar company but there was like a lot of the early web 1.0 businesses that I looked up were Affiliates or leaden businesses for lawyers because if you look at what the most expensive and this is how you know it’s a big industry you can just go to Google Keyword finder I forget what it’s called now but it used to be called keyword finder you could type in the word lawyer and it will tell you how much you have to pay in order to get a click from Google for the word lawyer now if you type in something even crazier like mesophila lawyer it’s like ,000 a click meaning only 5% of those will close so this company’s having to spend I I can’t do that math because I’m an idiot tens of thousands of dollars in order to acquire a client who wants to sue someone or whatever for mesophila issues like it has the highest cost per click I’ve seen is lawyer related and I I’ve seen multiple of these Leen companies for lawyers that are doing hundreds of millions in Revenue Leen yeah incredible business blueprint that uh really if you just have one skill you just need to figure out the niche to apply it in the one skill being you know sem search engine marketing and how do you use that search engine Marketing in a field where the people who run those businesses aren’t great at it and if you can just become great at it it’s it’s a big winner there um I gotta ask you do you have you seen this apple Vision Pro thing man what do you think about this I haven’t tested it yet but I’ve seen it uh what do I think of it um on one hand I have I have the Boomer ality of like this is sad this sucks we’re all going to be in this but on the other hand I’m like it’s pretty sick like they push they push the envelope it’s pretty cool I think I think it’s kind of cool knowing that the current version is going to be the worst version that ever comes about and that first version is pretty seems pretty awesome pretty dope yeah yeah what do you think one to 10 how bad do you want one uh I don’t want to own one so not at all but uh nine out of 10 I I want to go to the Apple store and try one what what are you um yeah I didn’t buy one and like the bar for me to buy something is pretty low like I’m a pretty impulse driven person like if I’m just curious I’ll just usually get something it’s not an Impulse impulse buy p uh price it’s not but like you know I I kind of justify anything that’s in you know trying new tech that that’s kind of my that’s kind of my job to do to do things like that so so I don’t do that but I’ve been I have three VR headsets already sitting in the corner of my room just staring at me like really bro you’re going to get another one of these um and each one I tried them on I was like wow this is so impressive all right again that’s enough I guess I’ll put this down and never put it back on and that’s what’s happened to me with every VR headset so I’m afraid that that’s what’s gonna happen with this I did watch a bunch of the videos I use my Oculus for hours a day on the day that I bought it right yeah every time I use it I use it for four hours it’s just goes one time did you watch the Casey neistat like review video so good so he goes he puts it on and he’s like I’m so excited about this he walks around New York and he basically goes on the subway and he goes to Time Square and then he goes to like a Crispy Cream and he’s using it and he made a great video about it which is less like let me review the the features and be like H how good is the field of view is it 110 degrees the right number he doesn’t do all that he’s just like I actually want to just like use this for fun and go see like you know what it feels like and um it seems like everybody’s takeaway is kind of the same which is kind of a magical experience you feel like you got a glimpse of the future but it’s only a glimpse this isn’t the future yet and but you see like oh okay five years from now this thing is going to be incredible because they’re going to solve all these annoying problems it’s going to become lighter weight they’re going to get rid of this cord that’s a battery that I have to put in my pocket while I’m using it they’re going to make it so that I can see my phone while I’m using this if I want to it’s going to be a small as a pair of glasses exactly and so that’s pretty exciting um but it did remind me of something that I think is forget the Apple Vision Pro for a second because you know whatever it’s just a device um there’s an incredible blog post that this reminded me of and I think that this blog post is one of if I if I had a Mount Rushmore of blog posts that informed my way of thinking as an entrepreneur this is one of them and it’s this post by Paul buite who is the creator of Gmail and the blog post I think is called if you’re great you don’t have to be good and what he’s talking about was the iPad came out so the IP he wrote this right the day after the iPad was announced or released and all of the reviews were crushing Apple being like iPad what a what a flop right they’re announcing this big deal but this thing it doesn’t doesn’t have a keyboard doesn’t have a USB port you can’t even do this with it you can’t do this with it and he the guy who wrote the blog post makes a point he goes um people said the same thing about Gmail when we first came out and he’s like we didn’t have time to do certain things so he’s like for example a dress book he’s like we didn’t have time to build it and so we shipped it without it and people were just killing us like oh my God this doesn’t even have an address book oh it doesn’t even have this it doesn’t have this and he’s like uh we thought oh man we might fail because of this he’s like but what saved us and the same thing that’s going to save the iPad is that when you like a hit product is not a hit product because it’s good in every category it’s a hit product because it’s amazing it’s great in one to three categories and he’s like we he’s like for Google for Gmail we were like cool we’re going to do I don’t remember what what they were exactly but I think it was like unlimited storage or like just like 10x more storage than the previous email provider well hot mail was giving you like hot mail was giving you 20 megabytes these guys were giving you like you know two gigabytes he’s like the second thing was um super fast search so you could find any email so he’s like even though we didn’t have your address book if you just typed in somebody’s name you’d immediately find the last email from them and that you could just use that email uh you know to to contact them again he’s like in the last thing was like threaded conversations he’s like you know basically the ability for each email not to just be its own thing but like every reply in one email thread you can just see it all together and he’s like we just wanted to be great at those three things and we delivered we were great at those three things and it worked even though we were missing these things that the experts all told us we you know we would get slammed for he’s like the iPad is the same way he goes the iPad does not have those ports it doesn’t have the USB it can’t connect to keyboard you can’t do all this right now he’s like you know what it’s amazing at it is great in that if you turn on your computer it takes like a minute and a half to get to like being able to use a computer like it has to boot up and has to go to the login he’s like with an iPad you literally click the button and it’s ready for you to use instantaneous he’s like number two it’s great for watching videos on your couch it’s like you can’t it’s not super good for productivity right now but man is it amazing just to hold be able to walk around with a screen that you can watch videos on he’s like it’s 10x better than the previous way and so I kind of when I looked at this apple Vision Pro there was a bunch of people that were like oh it can’t do this and it can’t do that and what I’ve learned is don’t discount something because of those like kind of those limitations like basically find does it have any extreme strengths because if it has a couple of extreme strengths it’s actually going to be a winner well does it there’s this one ad that I think shows one of the extreme strength um watch that ad for a second yeah it’s awesome so basically you see everyone else on their iPhone on a small screen and then they on an airplane across the rows on an airplane and then you see a guy with the Apple VIs Pro and it’s at you you see what he’s seeing and it’s a movie theater he’s watching a Napoleon and it looks like he’s in a movie theater where everyone else is looking at a little three-inch screen exactly he’s and so you think about what is the what is this thing great at because that’s the signals of like is this gonna work is this the future or is it not I think one that you can identify is the ability to like why would you ever go to a movie theater if you had one of these really because you can have a even better than movie theater experience you’re at home it’s a full screen like everything you can see is the screen and even better you can like actually like change the surroundings you could be in the jungle with the theater or you could be on or you know in this case you could be sitting on an airplane and have the theater come to you are you imagining somebody in a jungle what I me with that was like you can change the scenery behind in the the thing but in this case it’s where he’s actually sitting is on an airplane where like nobody else can see what he’s seeing so it’s private which is cool because I hate kind of on an airplane when like you’re working or whatever ever you’re typing emails and the person next you could just read everything um so it’s it’s private I sat next to a guy on the airplane and he was an old guy and so his the text on his phone was huge yeah and I could see him talking to his assistant and I could see his name and I looked him up on Wikipedia and it was a famous producer and I’m like oh makes sense this producer lives in this city where I’m leaving from and so like I understood I knew like all about this guy just from seeing his text messages is weird so I think private private video is one way that this is great I think this second way that’s great is like the theater experience I think the third is like any sports or Concert Experience so being able to sit Courtside and watch an NBA game with this thing from home it’s like you take a $50,000 experience that only the richest of the rich can have and now anybody’s gonna be able to have it with this and that I think is super super cool and I think there’s a bunch of reasons why this thing is not great yet but I think that is is amazing I’m such a neck beard that like Sarah wanted to go to like Greece or something to like see whatever the famous stuff they have there and I just looked it up on street view and I was like got it it’s it’s all right like is that beautiful you have your camera take a picture and this would make it so much better I’m just not gonna leave my house ever again um no I think the I think it’s gonna be cool I I just don’t want I don’t want to I don’t have a need to own one yet but the flight thing actually is pretty convincing yeah that and I was like what an example of an ad that one ad is like 15 seconds there’s no words there’s no dialogue and it sells the thing for you right like that was the most convincing ad I’ve seen about this whole thing um more convincing than all the reviews and it was 15 seconds with no no words dude they crush it man Apple crushes it on those things um all right let me give you a quick followup so this followup is very well you’ll see in a second but basically do you remember when we talked about about uome I feel like you talk about uome every fourth episode now what’s going on with uome so uome they I talked about it in April of 2021 so it’s been a few years so uome was launched uh I don’t actually know when I think 2014 or so they started out actually as a Kickstarter and Indiegogo thing and the whole thing was that you pay 80 bucks and you send them a piece of your poop and they look at your poop and they tell you all about your your gut which I guess you can find illnesses through your poop and it was started by these three people but two of them eventually started dating and got married Well turns out they it was all well first of all they raised from Andre and horowits they raised from YC from 8 VC so they raised in September 2018 they raised $100 million at a $600 million valuation from white combinator as well from the best investors there are turns out it was all a scam and like their tests were nonsense and the way that it worked was basically they you would send them your poop they sent you back [ ] results [ ] results bad results that they like weren’t legit yeah pun uh they they just completely made it up but then what they would do is they would Bill your insure $3,000 and so in doing this they made roughly $35 million from insurance companies so was insurance fraud because it was bull crap test and then they the the two husband and wife couple they sold $12 million worth of their shares well fast forward a few years after they raised their funding their office gets raid by the FBI and turns out the whole company was a fraud it was one big fraud it was nonsense and I was curious as to what happened to the founders I was like man did they get sentenced yet because I know that they were definitely were guilty um turns out they fled to Germany and here’s the update to this to the case in the story that we did in 21 they’re still on the lamb they’re they’re they’re International felons in Germany they’ve never been caught totally worked crime does pay they did not get in trouble that’s the update to the story I was curious I was like I was like what happened to these guys where are they now they’re just chilling in Germany for some reason they got away with it they’re about to get like a Netflix deal on top of it yeah they’ve completely gotten away with it nothing bad has happened to them they got the money they ran away and they’re happily they’re happily married and it worked in love Rich living in Europe it’s an extended honeymoon they completely got away with it is that insane yeah that’s crazy also I feel like Germany is not like the place I think about when I’m like they ran away and you know hid in some country and got away with it it’s like German I feel like Germany should be able to like he should be able to find not like you know some small Island somewhere well I was reading their Wikipedia and at the bottom of the intro it said like they currently are international F fugitives living living in Germany and it said they have no intention of coming back to America like yeah duh duh and do you think how do they know they’re living in Germany still like wouldn’t they just leave if it’s gery I I don’t know I don’t know but they know that they’re in Germany and they’ve completely gotten away with it so they’ve raised $100 million they stole 35 million from insurance companies so we’re talking $150 million close to uh they they know they’re in Germany and they’re just chilling they they’ve gotten away with it one of the most successful Indiegogo projects of all time is it really yeah given the outcome money marriage money love Fame great European lifestyle did you see that uh crypto documentary on Netflix about remember the uh the uh what was it called what Ico scam that these uh like two Brooklyn kids did in uh like 2020 remember that uh I didn’t watch the the I know what you’re talking about I didn’t watch that one what was it called uh or what was their scam called I have no idea I just saw the Netflix like trailer that’s all I saw I remember seen like 20 crypto scam movies and I’m like I think I’m good on that category for a little while well we were making fun of them because we were like no I don’t want to give my I don’t want to invest in any person who says they’ve got some amazing technology and they’ve got Perfect Teeth a red Ferrari and abs and we we were talking about this guy and obviously it was clearly a scam they paid Floyd May Mayweather to uh endorse it they paid uh what’s that guy DJ khed to endorse it it was like clearly a scam and this founder of ubam Jessica Richmond her background Stanford Oxford Google and McKenzie it’s crazy right by the way she lied about her age so on her like everyone was like dude you’re not 30 you look 50 and her weight too no she completely lied about her age like it was like a known Secret in Silicon Valley at the time that this woman because she was no I know what it was she made Forbes 30 under 30 and everyone was like dude you are not under 30 years old that’s that’s hilarious the 43y old on the forbs 30 30 yeah she everybody um on their about us page on the Indi Yogo each person has like their back like where they went to school and then some people like so for her she’s got Stanford Oxford Google Mackenzie but for other people they don’t have like four impressive things they just went to undergrad and then that was it so they just added like random taglines under them so it’s like Jennifer from customer care cool Under Pressure yeah no [ ] next Samantha customer care appetite for knowledge another one hunger for fraud just yeah absolutely no conscience great at hiding and you could like look Google her name and you could kind of see some pictures where she’s not wearing makeup and she’s just like a it’s like a normal photo that’s not like a press photo at the time of a lot of these photos I think she was supposed to be 29 years old and if you look at some of these like YouTube videos of her so there’s a YouTube video in 2016 of her and I think at this time she was supposed to be like 28 she looks 40 she could be even higher than 40 it’s obviously that this woman or it’s obvious that this woman is not I’m an old soul and people are like no you’re just old talking yeah it’s like you are an old soul you’re an old body too I mean everything yeah you’re not under 30 this is crazy yeah that’s a real yes and yes you are an old soul and also so she married the co-founder yeah the guy with the beard they like fell in love and got married and and now they’re it’s like they’re Bonnie and Clyde it’s just crazy they got away from we hopefully have someone who’s listening to this has worked there can actually give us Insight but I looked for like any type of like update on this story that I could find and everyone just says yeah they’re just hanging out in Germany they’re just I mean it sounds like they’re living a normal life and they completely got away with it the haters all said it was a fraud and the haters are right shout out to the haters yeah it says uh listen to this it says there’s a headline says the poop testing startup founder who lied to get on the 30 under 30 list is now officially a fugitive uh yeah and so like guess everyone knew that she it was nonsense oh by the way here’s her age she’s 47 she’s 47 years old and two years before that when she was 45 she was on Forbes 30 under 30 that’s a caper man the husband I mean he just gets wrecked in this statement says defense lawyers have informed the government that Richmond is suffering from a serious medical condition and API is her caretaker I mean it’s like you go to a party for the first time with your with your girlfriend and she’s like oh yeah this is my uh this is my friend Sean my friend what and they’re probably just and he’s like yeah he’s like he’s like all [ ] up man he’s [ __ ] all over himself he’s in a wheelchair this guy’s he’s he’s in a horrible spot you guys should see this mess he looks disgusting um I think we should do an annual update on these guys actually let’s mark it down the calendar every February 7th we should just update still on the Run crime still pays I guess it is it is insane did Sam bankman free get sentenced yet dude I don’t know I feel like the last thing I heard was like oh they just like removed five counts like real quick just like on a Friday news dump when other stuff was going on it was kind of BS yeah he’s I think he’s actually not going to serve a lot of time and then Holmes Elizabeth Holmes how much time did she get was it nine well she kept having babies and was like I can’t go to jail I’m pregnant and they’re like man you just keep like you just you can’t keep this you can’t have leave from prison like you can’t just keep staying out of prison that way and So eventually she had to go by the way this is hilarious the wal stre J reporter um described the efforts by the newspaper to track them down believing to believing that they live somewhere in Central Berlin and it basically says they located a b a building that was used for um like the postal address for them and they were getting mail there however they were unable to find where they were actually living so I think it’s the the building is in Germany that may now be where they’re actually living which would uh that feels more right that that we don’t know exactly where they are as they’re on the Run maybe maybe who knows um but that’s the update we’re g to come back to it in a year dude they should just tra her they should do like a Honeypot they’re like okay how do we get how do we get her uh we need her ego it needs to be like we’re having a contest for the like you know 40 under 40 Berlin and it’s like they know she’s going to throw her hat in the ring she just can’t resist she she’s like I need the recognition yeah dude I watch Cops all the time that’s my favorite show and one of the ways that they catch guys who have warrants is they mail them a thing that says you won free Yankees tickets you have to come you have to come pick it up at this location that’s like a famous way to have you ever seen that no but they do is kind of the same thing yeah and they’ll get like yeah and they’ll get like 30 of these uh guys with warrants in like a ballroom they go everyone all right we’re g you guys are all the lucky winners of the Yankees tickets congratulations here they are and then the police swarm in and arrest everyone and they do like a it’s like a big thing yeah that’s what they need to do with her as a uh a 35 or 35 and there’s gonna get 34 dummies to come in to win this award and right they’re gonna Honeypot this lady you shouldn’t be allowed to lie like that though I mean shouldn’t be allowed to lie about winning free tickets I I’m against that I’m all for catching these guys you shouldn’t be able to get someone’s hopes up like that damn that’s harsh you know the cops can can lie about anything like for example if they’re interrogating you and they’re like all right we’re going to turn off the camera this is off the Record it’s never off the Record theyve got other like voice recorders in there they can lie police can lie about anything or they could say like we have your DNA there they’re allowed to say that you could say anything you want yes you can say anything You’ be like look here’s uh this ZIP this bag we’ve got a hair of yours we found this at the crime scene yeah they could you could say anything you want so they can lie to you you can’t lie to them they can lie to you correct an officer is allowed to lie like when you’re when you’re at when you’re getting booked they 100% can lie to you rough it’s a rough world out there all right I don’t know where to end it but that’s the PO all right that’s the pod