Episode of My First Million with Sam Parr and Shaan Puri.
Transcript
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 [Music] i just saw if you go to brett taylor the chairman of twitter he just tweeted we’ve agreed to a deal with elon musk oh wow wow so i guess i think i think saying it’s done is fair yeah that’s fair okay um so 54 dollars a share so let me tell you something really quick i i i this relates this is gonna sound weird but it relates to what we’re talking about so do you know how a combustible and combustible engine works that’s what i look like i know how a combustible engine works no so all right here’s how a combustible engine works so you’ve got this huge block it’s called an engine block it’s this big piece of metal imagine like a rectangular cube that’s about two and a half feet long a foot wide and a foot deep in depth understand okay when you hear like a four cylinder six cylinder eight cylinders 12 cylinders that’s how many cylinders they’re going to drill into that block of that that engine block and so they you know how do you know how big a cylinder is uh well i’ve i’ve eaten pringles before so i could sort of imagine you’re not far off so it’s around like it’s like a can of coke almost a little bit bigger but like just for the sake we’ll say it’s like the size of a can of coke okay and in in in in those cylinders goes a piston which is basically like you’ve drilled those holes and like you’ve got something like almost like a size of can of coke going back and forth through those holes and the way it works is you have a shaft that connects to the pistons which turns that up and down motion of the cylinders going up and down into motion that the engine can use but check this out in order to make this all work uh you have this thing called a spark plug in each cylinder and then you have this other device called a carburetor and that mixes the perfect amount of fuel and air into the cylinder and the spark plug makes a small spark and there’s a miniature explosion in the cylinder that for that creates so much pressure that that’s that piston is moving up and down does that all make sense okay i fall i don’t know why you’re telling me about this place i understand it now listen so it gets even crazier you know how you’re driving and your car will say like 6 000 rpms yeah sure that means that those those pistons so these pistons they it has to be airtight for that explosion to be in that cylinder so these pistons they’re super tight into that cylinder and they’re it’s creating a lot of friction when it says 6000 rpms that’s 6 000 revolutions per minute and 6 000 means you’re like driving pretty fast but not crazy fast that means those pistons are moving up and down 100 to 150 times per second and you have oil in your car because those pistons are rubbing against metal and it needs oil otherwise if you leave it without oil they’re moving so fast it’s going to fuse together and basically weld the piston to the cylinder geez okay okay the reason i’m breaking this up listen i can’t wait to hear it and and because i just watched a youtube video about it and i it’s still fresh in my mind that’s why i had to say it you did no it sounds like you just like wait a different way i was thinking about this and that and basically and then the output of all this is like uh carbon ax so it’s like a it’s like a gas and there’s fumes and there’s oil and there’s liquid there’s all types of fluid and then there’s a transmission which is like totally even crazier sometimes the fact that this was invented in the early 1900s and it’s still the technology that we have exploited and made so good we’ve made this so good that these pistons can move for a million miles basically they’re going to go up and down like a trillion plus times we have pushed that so far to the edge it’s pretty phenomenal what we’ve done and it’s such a shitty technology it was good for what it was and then elon musk comes along and i was like well he wasn’t the first one to do it but he did a really good job of it he’s like this this electric engine actually all we’re gonna use is a battery and one motor that’s all it takes and this motor is like just literally like three parts like there’s very few parts whereas with the combustible engine there’s like a thousand parts and not only is it simpler in terms of maintenance there’s basically no maintenance it’s far better so a really fast car i have i own a car that’s considered incredibly fast and it’s quite expensive and it goes zero to 16. yeah well it’s considered fast it goes zero to 60 in three seconds a tesla that costs 40 grand will crush that can crush that and go so it’s faster in every sense of the word it doesn’t break and i kind of had one of these moments where i was like i wasn’t actually high but it was like one of those high moments where you’re like unfortunately you just decided to have high thoughts without you yeah i had high thoughts i was like dude we’ve been doing this combustible engine thing for like 130 years now and then along comes a couple people who’s like no no we’re gonna do this total opposite way so instead of making an engine that just like is it somehow has more cylinders or it’s more smooth something we’re gonna do something totally opposite and it’s like levels above in terms of quality and i find that thought to be absolutely amazing and it just turns out he just bought twitter today so maybe something crazier is going to happen there i actually don’t think it will but maybe but isn’t that wild to think that like we can literally i don’t know how many people have existed since 1910 billions and billions and billions of people we’ve all been doing it one way and then along comes a very small group of people let’s say tens of thousands or hundreds of thousands of people who said no no this is the way to do it and it changes everything and i find that to be amazing i i agree that is amazing a couple thoughts that came up while you were saying this first of all thank you for the engine lesson does that make sense did i 10 more man because i i know how to describe this did i explain to you do you understand how the engine works now a little bit a little bit yeah i feel like i feel like i’m at that perfect point where i feel like i know because i don’t know what i don’t know uh if you’ve ever seen the dunning-kruger effect exactly what you should know the takeaway here is that it’s very very very crude you’ve got these like metal one metals like rubbing against each other and creating it’s just messy it’s smelly it’s it’s crude well i just did something today that reminded that what you’re talking about reminds me of this which is uh i went to the doctor i went to the eye doctor i had a eye appointment and uh not because i wanted to i was like just give me my goddamn contacts and they’re like nope you gotta come in it’s uh that’s two years old now we gotta do the whole we’re gonna we’re gonna do the thing where we blow puff air on your eyeball it’s like oh my god what is that even for i don’t know but i went in i decided to have a little bit of a different attitude so i got real curious when i went in this time i’m talking to the doctor i’m asking a bunch of questions she runs this other test on me where she takes a picture of my eye and then she shows it to me on a screen and i don’t have you ever seen like the inside of an eye it’s disgusting it’s [ ] wild dude this is crazy she’s like okay so like this is the nerve in the back of your eye that’s what’s sending all these signals your eyes just getting light from everywhere and your brain is this nervous the thing transmitting to your brain all these i these this light signals and your brain is piecing together sometimes the construction of the world yeah it’s amazing looking these are all the blood vessels that’s like keeping your eye alive and when you whenever i see how the body works i just sort of marvel in it i’m like i don’t have to think but my liver knows how to like detoxify my body you know i don’t have to think my heart will just keep beating reliably or else i’ll die but like luckily it’s on autopilot and um in fact it’s on so much on autopilot i couldn’t stop it if i wanted to and so it’s like the way that the human body works is just like a true marvel and so today’s my birthday and seeing that oh i forgot to tell you on air happy birthday thank you appreciate we all we talked earlier on the phone but the thing that amazes me it’s like the best thing to do on your birthday is to go just like get a scan of your body and just be like wow you know the human body is like an absolutely incredible machine that just works in like the same way i don’t know how an engine works i don’t know how my liver works i don’t know how my kidney works i don’t know how my lungs work i don’t know how any of this [ ] works but it does work and just the fact that it does is kind of amazing to me and just seeing my eyeball my retina and like the nerves the blood vessels in my eye was just a reminder of like uh it’s like it’s like a humble humbling feeling right it’s like the humility of how you don’t even have control of your own body let alone the world and all these other things that are going on so i really appreciated that that’s the first thing second thing i wrote this down the other day for the podcast but i never knew how by the way are you wearing a mighty ducks jersey yeah dudes my birthday i’m feeling like a mighty duck right now oh my god that’s awesome the older i get the more i need to behave like a child right like that’s that’s kind of the game plan is get more childlike as i grow not more adult-like i wrote this down i wrote vocal minority mobile minority and i didn’t i wrote this one like a month ago and i was like it might come up at some point the podcast and what you just said about elon about basically a very small number of people changing the way that things work is a great example of this so and it’s not like he’s the guy like that he was like you know we can’t say that like elon came up with this we could just say that there’s probably a lot of people came to the same conclusion he just was had the strongest will and is the is the is the person who we give a lot of credit to by the way have you seen what he’s been saying lately about this like origin story of tesla have you seen this controversy no does he say that he’s the founder no no so he so he so the what happened was tesla started about a year before elon invested in it and so now he’s seen as the he’s basically seen as the ceo the fountain he is the ceo he’s also kind of like the founder you don’t really hear about these other guys who started these two guys that were that were starting it i think and he is kind of the founder when you think about it like it’s like literally the eighth largest company in the world and at the time it was worth like 10 million dollars like what’s the difference exactly and so but the guys who started it have like basically just made it kind of like their mission so so the the elon there’s a there’s a group of people that are like anti-elon they’re a vocal minority against elon and they’ll say like things like elon didn’t create tesla he just you know invested in it and like takes all the credit for it basically and um and that one of the original guys also really has like made it his mission to keep telling people how much he how he was the founder of tesla not not elon musk uh and elon sort of like come out recently he said something the other day in his interview he goes the biggest mistake they go what’s the biggest regret you have this biggest regret you have or mistake you’ve made bad decision you’ve made he goes well certainly the worst business decision i made was um not deciding to just like start tesla on my own with me and jb like i guess the guy he started it with like guy he feels like was his co-founder in it and like basically buying the existing company and then building from there versus just doing it on his own he’s like certainly that was the worst decision i think because financially that guy owns shares of what’s now a trillion dollar company and then the second thing is that that guy basically has made it his crusade to be like f elon musk i’m the founder of tesla until you know how much does that guy own i don’t know the exact percentage maybe maybe uh somebody john they could look it up while we’re while we were talking but like but that guy basically uh there’s like i think his name is there’s two guys um yeah martin and somebody else and i think that’s his name so they one of the things that they say is like um you know we created tesla and then elon has come out and been like tesla was nothing there was no product they were basically like it was a shell of a company there was no uh it was like you know pre-launch pre-everything i invested six and a half million dollars i think he invested in the first round knowing also that i’d have to invest way more after that took a chairman role and then like basically he had the guy from who designed spacex’s logo designed the tesla branding and like you know he’s like i guess he created it was a it was an inactive company it was what he what he had said um he i think he tweeted something like this out that it was like a dormant company or something like that and so there’s like some controversy around that actual founding of it but yeah how is that his biggest mistake that doesn’t seem like that big like it worked out fine and also one could argue maybe it was worth it just with the name yeah exactly just for the exactly just for the name i guess his take would sort of be like the company was just going to die if he didn’t invest in right i think he was the only investor at that time so anyways uh okay back to my vocal minority so there’s we see this a lot on twitter and other places where there’s a vocal minority this is what people call cancel culture this is what people will call like sort of the haters or the naysayers online there’s a small group of people that are sort of unhappy about anything that happens and they’ll they’ll be unhappy that twitter’s being bought by elon musk they’ll be unhappy that he’s a billionaire they’ll be unhappy that tesla they’ll say that tesla’s cars yes they’re electric but but what power is the electricity it’s coal you know they just always have something to say so there’s a vocal minority and i think one of the biggest skills in today for any business person is to correctly identify like a vocal majority versus a vocal minority if you just constantly let the vocal mind already sway your thinking you’re letting like you know the bottom one or two percent of people sway your decision making just because they’re very loud about it but then the the other so you i think you want to overlook them but what you don’t want to overlook is what’s called what i call a mobile minority so a mobile minority is a group of people who decide to actually like take their business and walk elsewhere or they take their lifestyle and they just change it so it’s like you know if you’re a safeway but all of a sudden there’s like a small group of like sort of hippie people that are like buying this like all-natural produce right and they’re shopping at this place called whole foods market in austin and that’s only got one one location two locations but like all of their spend now goes to this or you see people that are like you know um you know people on netflix or whatever people who are subscribed to netflix but all of a sudden they start to instead spend all their time on tick tock and youtube and it’s like they’ve actually voted with their feet or actually i mean even a a different non-business example i was just reading about martin luther king and rosa parks and when the whole rosa parks thing happened the black folks were like no we’re uh you know we’re not taking that and originally like well that only makes a certain amount of our population it’s no big deal that it like goes on for like two weeks you’re like all right something’s happening and it’s happening in san francisco right now like a mobile minority of group of people have left san francisco taken their business elsewhere it’s a very small group of people some of them were loud about it saying oh i’m leaving because i have this this and this beef with san francisco most of them were just frustrated like i’m going awesome going to miami i’m going elsewhere i’m going where i will be treated better well i will be tax less and get more from my government and um and those mobile minorities are actually ones you want to listen to if whether you’re a politician or you’re an entrepreneur it’s like we we talk about this a lot right dude there’s just subreddit that’s getting really popular and it’s like oh yeah it’s only 50 000 people but it’s like wow 50 000 people have chosen this lifestyle of like you know either anti-work or over-employed or they’re tracking their like fitness and their sleep at this like maniacal way it’s like yeah that actually is something you really want to pay attention to and it’s a great place to start a business is when you notice a mobile minority um and it’s also like a really important thing to notice as a leader of either a city or a company to notice huh how come all these developers are like you know going to this weird like web 3 crypto thing like what’s that about it’s like yeah it’s not everybody but like wow like you know 10 of our smartest people all left to go do this thing they took a pay cut to go do this thing i thought i think i should probably pay attention to that and so uh so i wanted to point this out which is ignore the vocal minority and pay extra attention to the mobile minority that doesn’t mean there’s another side to this it doesn’t mean they’re right so for example or that like what they’re doing like i i i agree with you i would also challenge myself to find examples where there is that’s a great what’s it what’s it called uh mobile minority yeah that’s a good that’s a good one trademark that we’re trademarking that that’s in my first million originals so like there’s people like like for example day trading amongst young people has gotten incredibly popular i don’t think the majority of people do it but i think there are a lot of people do it they’re very loud and they’re betting a lot and i think that’s horribly stupid yeah yeah i’m not saying it’s always a good thing right it might be people vaping and it’s like wait a minute 10 of teenagers are vaping now it’s like i’m not saying it’s always healthy but i’m saying it is almost always worth paying attention to this sort of like silent and mobile minority versus like i think it’s worth paying attention to whereas i think the vocal minority is almost always worth ignoring you want to talk a few examples off the top of our head a few examples of those groups of people um well you get a couple i think i’m gonna give a few more yeah give give me give me something i’m just gonna write off a few things that i’m noticing based off reddit and my interest um people who don’t wanna buy off amazon because they don’t want to have to worry about throwing away the packaging yes number two people who want to use reusable um packaging so like a ziploc bag that you’ll pay 20 for one bag but you can use it over and over and over and over again number three people who don’t want to eat out of plastic uh let’s see number four i have another one that’s related to that so my wife’s vegan and so we’re anything we do has to be compatible with a vegan lifestyle and you’d be shocked how much how much is uh not compatible so like okay you think about food i think food is where most people go but like leather is the other huge one right so like we’re about to buy a car or uh like she wants to buy like a fancy purse or something like that she’s like she is ready to go to whatever louis vuitton or whatever and drop five grand six grand whatever it is but uh she won’t she won’t do it because it’s all leather and so she’s like i can’t believe these luxury companies don’t make one non like non animal based product like they don’t make one bag like even they would get all the v all the vegan people want to buy luxury like go to whichever brand makes it like all of the big ones gucci prada whatever and um and they just don’t they don’t make it or if they do they like they’ll make the bag but not the not the handle or the strap and she’s like well that’s the thing like if you cared about this you care about this and so we see that with like car too like tesla has all like um vegan leather and they’re one of the few car makers that like just lead with that it’s like these little things that like again super easy to overlook i would you know i would totally understand saying look we’re not gonna change our product line for this one or two percent but as that one or two percent gets big enough like it i don’t know how much the sort of vegan population is now in america but like let’s say it’s two or three percent that’s of a base of 300 million people and those are people who like they don’t just kind of care about it they really care about it and so they’re the they’re the mobile minority and the vocal minority exactly they use they do action and they talk a lot yeah exactly so like you know you make a chocolate and make a cheese make a car leather whatever so that’s an example where i’ve seen a lot of like wallet share go to the one brand that just cares about it what else is there so i think there’s also uh when i read the tick tock comments there’s so many people that when they post videos of people from the early 2000s or when i was in high school 2008 and they say oh wow look no one’s on a cell phone they must be so happy so i think there’s going to be a mobile minority of people who actually don’t want smartphones the the disconnect digital detox population yeah there’s also a group of that that’s uh like vr like absolute vr nerds so uh they don’t talk much in fact most of the dialogue around vr is how it’s not here yet or it’s not going to happen there’s a small number of people that spend an absurd amount of time in vr they work in their vr like i don’t know if i i think i sent you this take talk of there’s a guy who says he’s spending 24 7 in vr and uh he literally wakes up puts the headset on and he spends his whole day like that and he even goes to sleep in vr and then he like you know the headset falls off or whenever he sleeps it’s like some some nut but close your eyes and imagine this guy yeah like the beard touches the chest hair so [Laughter] there is no line yeah we need strong borders he has a rack just for fedoras basically like you know there’s some people that are spending a lot of time there but you know i don’t know if that’s like a big one yet but like i’m just sort of like brainstorming off top of my head you know people who really really care about certain things and i think you’ll see this with pet stuff i think you see this with like in like house stuff that’s going on like if you’re in the gym business right now you know the mobile minority through covet has been like home gyms like those people are never coming back once they put like thousands of dollars of gym equipment in their garage or their room you know bedroom in their house like they’re not coming back into the gym industry right so it’s a mobile minority they have voted with their feet and now they’re going down a different path a different lifestyle yeah i think that that’s a really good term i’m on board with mobile minority but what does it have to do with engines uh well no it’s about like the few people that go and actually like they do something different right so like you were saying like elon and the sort of the electric car yeah yeah you know that that’s a small number of people who just took a sharp left turn and decided nope we’re gonna like we’re gonna get off the oil and gas system we’re gonna like not have a combustible edge of car we’re not gonna buy from any of these brands like we’re just gonna go fully electric do you think but here’s the thing i’ve been that i think about when i think about him and people like him is i think okay so obviously he’s right so this tesla thing like it’s right but it didn’t seem that way all the time it seemed like the total opposite and there’s moments in my life where i’m like i firmly believe that this is the future like i firmly believe that many homes are going to be bought online uh like that’s an example but along the way i have so many doubts or i’m like ah screw it and so what i would like to know is i wonder how he cuz he doesn’t give off that appearance like he ever has doubt he’s like no no like this surely this makes sense but then he does say all the time he’s like i think we’re going to go bankrupt but that doesn’t mean he thinks that his idea is wrong he just thinks that maybe like they’re just going to run out of money because they didn’t have enough runway and so do you think that someone like him or a lot of these other people like that that there is self-doubt or uh or what you move straight to the end now um if you listen to him talk he actually says three things so he says they’re like how did you decide to do this no car company had ever no american car company had been made since jeep like 90 years ago or something like that uh nobody had ever made an electric car you know that was popular you know a fully electric car nobody had ever you know started a rocket company a private rocket company all this stuff and he basically just said they’re like so how did you decide to do it and he’s well i agreed like the probability of success was low but it was worth doing so i just did it you know like he’s basically like i thought it was worth doing humanity needs this so it’s worth doing certainly probability of success is low certainly and then uh he said one other thing which was like you know did you ever think about giving up but he’s like he had said and that likes free interview it is not in my nature and like i think it i think so if you take those three things like he doesn’t decide to do it because he thinks it’s gonna work in fact he decides to do it because he thinks it’s worth doing he agreed that the probability of success was low but not impossible and he just decided that he’s not going to give up that’s not in his nature so you combine those three things well doubt has very little place right it’s like no i’ve accurate i’ve i’ve taken into account the low probability of success and then i’m not going to quit so and i just already decided it’s worth doing so we’re in that you know doubt can’t live in that home that’s a two-bedroom home and doubt doesn’t have a room in that in that house so so i think that’s how that’s the psychology i’ve seen not knowing the guy uh just from his interviews but i don’t i’m not sure if that’s the the entire reality even though he said that and here’s why uh did you ever pay attention to boxing in the 90s with mike tyson sure yeah all right so mike tyson came on the boxing scene when he was 19 and he was like the man until he was like in his early-ish 30s and when he walked out of the ring uh walked out in the stadium up to the ring he was famous because he wore black shorts he wore black socks and black shoes and he would come out with no shirt on with his gloves already tight and everything and he would just as if he’s just ready to roll typically that’s not how they do it and he was already sweating and he didn’t have a noise or sorry he didn’t have a sound uh a song that he came out to he came out to a noise it was just that was the noise and it was just all his whole thing was about being frightening he’s like i am i’m a tiger i’m a beast i am here to kill and yeah and he would say things like that like i’m going to take out your heart and eat it yeah and he’d be like you know you know what was the great interview where he’s like he goes uh he goes i’m gonna defense is impregnable my my will is unstoppable praise be to allah he goes and he goes i’m gonna eat his heart i’m gonna eat his children he goes i’m alexander the great he ain’t no alexander the great i’m alexander the great yeah like this is total bravado yeah scary guy and when he would look at you in the eye you’re like this guy’s gonna this guy’s gonna murder him he’s not just going to beat him up he’s out to kill him and i would watch interviews with him now that he’s older and he doesn’t have to act that way anymore he goes he goes people thought i was so deadly he goes i was deadly but i was so afraid the reason i acted like that was because my the the reality was my fear was the total opposite end and i had to act that way because he was i was so afraid and i’ve heard a bunch of ufc fighters that i like like donald cerrone and chael son and bill go every michael bisping and they say every single time i’m backstage and i think to myself why did i do this why didn’t i quit i don’t want to do this i’m afraid i am so scared to do this in reality this guy i’m talking about michael bisping he’s got the biggest mouth of everyone he talks the most trash and when i heard these fighters start saying this stuff i was like oh they’re like you’re you’re you are the toughest guy on earth right now but even the toughest guy on earth is scared yeah they they go into a cage fight with another guy who’s trying to kill them in their underwear in front of millions of people like and after talking mad [ ] right so it is one of the like you know most vulnerable positions you could put yourself into so that’s why it’s great to kind of like learn from them and hear their hear their uh you know their thought process i think that’s true somebody had said this about elon they uh i think it was uh maybe jurviston like one there’s an investor who invested in tesla and spacex um and i believe has never sold a share and never said he never plans to sell a share of any of those companies and so you know this guy’s got the best returns ever because all his bets were just bad on elon and um he said like he said something like you know elon is just he goes he’s a normal guy but the fear gene got removed and uh like you know in in his dna that the fear gene got removed i actually think that it’s not that like nobody’s that um everybody has you know fears and you know the the extent to which you are fearless is the extent to which you learn how to dance with your own fears right so like those ufc fighters they feel the fear but they learn how to cope with it and for mike it was getting into this like you know primal state of mind saying certain things and just walking to the to the thing to that sound and like that’s how he was able to like dance with that fear and so i’m sure that somebody like an elon musk even though they have fears of you know failure humiliation you know three rockets blow up for spacex you know just like explode and now you’re you basically put all your money in and you you have enough for one more launch and that’s it you had to rush and do one more launch yeah i don’t think he was sitting there you know with a resting heart rate of 46 you know i think he was feeling something at that time you could see it in the videos uh the relief when it happens but he learned to dance he learned to deal with it so i think you know that’s that’s the difference between people who seem you know totally brave or fearless is like they have just learned to deal with fear better than the person who lets the fear slow them down or stop them are any of your closest successful friends autistic or have aspergers sure do seem like it sometimes that’s closest friends to be honest because uh yeah i like to get along i end up getting along with people a little more outgoing extroverted and easier to get along with but i’ve gotta you have a couple i know i’ve got a couple and you’re friends with them as well and i’ve got a couple and what i’ve noticed i’ve got one in particular who i think you know i’m talking about yeah and very very very successful and he just doesn’t he approaches things far more logically and i’m like well name this will never well brad i’m making up well brad this will never work he’s like well why not why won’t it work like you know you see on this excel spreadsheet this math adds up to where it does work like well but like who’s going to believe you who’s going to have faith in you how are you going to do it well why wouldn’t they you know what i mean sometimes i wonder is that just a couple of my friends who are like that or if there is something and elon has studied as asperger’s is there something in there where they like um where it’s like you know it’s supposed to be kind of like a handicap in reality it’s the exact opposite it’s like a superpower well i played poker for a long time and you see this with poker players too they uh some of the best poker players are some of the sort of like you know aspergery type of mannerisms you don’t they’re extremely intelligent but they have an emotional coolness which allows them to be rational under pressure not get as easily tilted as an emotional player would be they can play with huge sums of money and not change the way they play it’s all just chips to them it’s a game to them and they also have the ability to focus for very very long periods of time longer than you know i would say the average person and so you know there’s some definite superpowers if you have that you know that brain wiring which is i don’t know what i’m just using these terms i don’t actually have any idea what the clinical like you know definition of these terms is but i’m just i’m sort of reverse defining it as a person who has those traits the ability to have a maniacal focus the ability to stay calm and sort of uh emotionally cool despite what’s going on highly highly intelligent with especially with math probability and statistics and um and so they you know they’re winners dude i’ve seen it just so many times that that is a whenever i sit down against that opponent that is the person i’m trying to stay out of pots with i’m not trying to compete against them when i go play poker all right let me let me tell you something interesting that happened to me you said you went to the doctor i went i had to get some like i bought a vehicle and i had to get it like registered you know you got to get your registered and title and all that stuff dmv stuff dude it sucks all right so this is like some people listening this is so obvious do you know that there’s third parties that will do this for you i’ve heard about this actually some guy told me he’s like yeah as like dmv sucks he’s like oh dude my buddy and i opened up like a like an alt like an alternative dmv in like you know in the dc area it’s amazing we do like three million dollars here i was like what dude open your own dmv like i never looked into it what is the rules all right so like i went to the dmv and like i didn’t know you had to have an appointment to go and the woman working there was like hey just go to this thing called fry title or something like that and so i just looked it up on yelp and it was like 20 minutes away and i went out there and there was a line out the door but i got in and out and so basically it’s a crappy building and a strip mall exactly like you’d think and uh like next to like a marshalls or something like that and you can go there to get license plates you can get their title transfer specialty plates temporary permits you can register your car there um and it basically has like a lot of the stuff that you would mostly do at a dmv you can’t do some things but mostly everything that you do and the way that you get it is you do a partnership with the motor vehicle department of every single state and you got to go through this like application process that i don’t think is that hard because when i was there i was talking to the owner and he was like a young he was like a 24 year old like it was like an unsophisticated smart but unsophisticated guy and he was like yeah i just applied and i was like do you guys always have a line because there’s signs everywhere that says we know we uh line no new line people at four because we close at five so because so basically like i was like are you guys this busy all the time he goes constantly i’m like are you kidding me and he’s like yeah and i was like well how do you guys make money he’s like well we’re gonna charge you like 50 to 100 right right here for this fee and i was like oh no brainer like because the the dmv here in austin i’ve got to wait four months or something for an appointment something crazy and it was a crazy service and i started looking into it and there’s a few companies that are in the space you know dmv dot org no you know her at dmv.org it’s like if you google like what paperwork do i need in order to uh uh in order to get a license in in in delaware like it’ll tell you like what to bring uh so that that’s out there but there’s basically all these places that i’ve seen do this they’re just like mom and pop like hole-in-the-wall stores and they are constantly packed it was crazy fascinating i did hear something which was like uh that guy that i was talking about something did end up happening or they cracked down or like they lost their thing or like once i don’t know what happened but something did something bad did happen this was years ago so i don’t remember but let me tell you about two other businesses that are very similar have you heard of acebel what’s aceable acebel it’s in texas it’s you’re gonna love this business so just go to like asable.com you sound like george zimmerman like you’re you’re gonna like the way you look i guarantee you yeah you’re gonna like this business yeah you’re gonna like this like i guarantee men’s bro house here so it’s basically driver’s ed online and they also do um like if you get a ticket you have to go to like corrective driving school or whatever oh my god kill it so they’re like an officially licensed um like vendor for this driver’s ed at these like these courses or whatever they absolutely crushed they bootstrapped for a while i think now they’ve raised like 100 million dollars these guys are absolutely crushing it i’ve seen their revenue once before back way back when i looked into this and um they started with like you know like a 32 hour driver’s ed course or whatever and they could do i think they could do it in like 36 states out of that of the total or whatever and so um they said they have 13 million like people have gone through it and they also do realtors licenses which is like one of people trying to get their broker’s license oh and so that’s like another this is such a this is an amazing business this is like a uh like 10 out of 10 under the radar business that just crushes it and they crush it due to like kind of like regulatory lock-in and um that they’re one of like the only officially approved people that could do this they just crushed it with google ads because people would search for you know driver’s ed free driver’s ed online get my broker’s license blah blah blah there wasn’t a ton of competition i don’t think early on and they just made a ton of money and so i i this is i’m pretty sure a billion dollar company at this point oh for sure you know just doing this this guy’s name is blake who started another blake uh blake myoski the guy who started toms shoes his first business was an online driver’s ed business and he said he crushed it oh wow i didn’t know that that’s yeah when i read his biography like give away shoes or i don’t know it was one of those it was like about giving away buy a pair give a pair yeah and uh anyway this business kills it what’s the other one so the other one so i was about to take a trip with my family and i was like oh we don’t have like passports for the kids uh so i was like oh let me get like we don’t have the birth certificates because you if you just like when a baby’s born they don’t give you a certificate it’s like oh you want a birth certificate like they roll out like a candy crush map it’s like do these six steps and like jump over all these hurdles to like get your kid’s birth certificate so it’s like you gotta like do this thing and go to the city whatever so i was like oh geez i don’t want to do all that and so i just searched like get birth certificate online fast and the san francisco or whatever like the bay area you know whatever like you know the walnut creek like official birth certificate thing i was like yeah you can like either mail in this stuff or go to our partner vital check final check we’ll do it and i was like oh here’s another one and sure enough i see it vital if you go to vitalchek.com there’s so many copycats there’s yourvitalcheck.com and check is spelled c-h-e-k that’s how you know these businesses crush the number of copycats that pop up it’s an official california birth certificate that you can get online um you know it’s government endorsed so hundreds of government agencies nationwide exclusively trust vital checks so they’ve got they basically cut deals with those vendors and whatever you go on here you pay i don’t know it’s like whatever 99 bucks or something per birth certificate you follow this form and it’s done and it’s like you kind of have to do this like it’s like a mandatory thing it’s like a dmv thing it’s like customers aren’t just like choosing to go get certified they have to get certified and so that’s why i love acebol that’s why i love your dmv one that’s why i love this vital check thing because it’s super crazy you have to do it to comply and you can build these kind of like third party things and i i sent this to xavier and sieva our buddies with enduring ventures i was like dude this is a beautiful business to buy right like because they’re going and trying to buy these businesses that are like just cash flowing profitable businesses that have defensibility um and can be maybe improved by like rolling up multiple or like centralizing the the back office and the the other the other like red flat not red what’s whatever the opposite of a red flag is positive flag a green flag that my like red flag of like this is a killer company is going off because it’s a website it’s an ugly website with a lot of traffic and it doesn’t say who the founder is on the about page it says we’ve been in business since 1992 and we do this this and this and like i can’t find like a guy on twitter talking about it i’m like okay so you just so see eva got back to me he goes it looks he’s like i dug in it looks like it’s owned by a uk public company called the lexus nexus relics i think relics which owns lexicon it’s like a multi-billion dollar it’s like the most uh i believe relic is the most profitable company in the world in terms of margins so uh they they they own another the big thing they own is do you know how scientific journaling uh like publishing works basically like sure these like doctors and stuff come up with these these amazing insights and scientific journals like yeah we’ll give you 500 for your article and like that’s all they get paid and every university like has paid money to get access to these journals and so they make like four billion in revenue and like three billion in profit or something like that wow yeah it’s a it looks like it’s a 50 billion dollar a little more than a 50 billion dollar company what’s the can you see what the profit like what the income is they probably have done 33 000 employees uh i can pull up i mean i can pull up it’s like though i think it’s one of the uh how do you spell it rel x yeah i think it’s uh dude how do you know about this this is another sampard special right here just knowing that of some random british public company that owns scientific journaling companies and is the most profitable company in the world how the hell did you know that i i i confirmed that it’s if it’s not the most it’s one of the most and i knew about it because a uh i i had friends in the in the journal uh who were like getting their phds and i was they were telling me how it works so i’m like oh that’s a racket like you you don’t understand but you’re lucky like it’s like you know dentists and stuff publishing stuff on like teeth like they don’t understand like how margin works and i’m like they’re paying you 500 for that you don’t understand [ ] uh so they’re just getting ripped off so i knew right away and second when we were launching the hustle i love database businesses and i researched database businesses like crazy and i came across this company because they they own they own lexus nexus which is which is like a total conglomerate legal records and documents they own patent site which is um it has a patent asset index of 135 million patent documents law 360 lex lex machina which is like 88 million whatever things there’s just ton of database businesses in there illegal law 360 is like it’s kind of like uh the hustle but for lawyers i mean of course they were first so we were like them for not lawyers but it was basically a daily newsletter for lawyers yeah elon’s like me for billionaires the problem that i have about elon is he just rips off my style like i was using twitter way before like i was popular on twitter first yeah i do memes he does memes right like he’s kind of like the poster he’s impulsive but i am to podcast he is to money money business and innovation dating celebrities doesn’t have a podcast though yeah dude i was thinking of uh jake paul we had jake paul on the podcast and i was like thinking about it i was like if i got into an argument with that guy he could just be like well i’m richer than you and i’d be like well i could kick your ass he’s like you know i can kick your ass i’d be like oh yeah you can’t he’s like well i’d be like well and i’d be like well i’m famous and he would be like well i’m i’m more famous so i’m like oh you’re like like everything better like every like whatever like i think of these people like i’m like oh like you are everything i do you are that but better i have nothing i could say to you in a fight like you’re just gonna win this argument every single time i’m screwed so sometimes i ask myself what can i possibly say and so like that’s sometimes i think about elon no that’s when you have to uh swerve into the virtue signaling and be like well i’m just i don’t chase money and fame yeah so yeah you’re way more famous and rich yeah well i wouldn’t trade lies with you you’re must be invisible i i have one thing you’ll never have enough and that’s the moral high ground you can always take on somebody better than you he’s elon’s like the sam parr of but just have money good episode see you later you