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 like yeah if you want us if you want to pre-buy southern sam’s sticky icky you need to just uh i don’t know dm me on twitter by my twitter is seanviewfeed dmv and say i’m in on southern stan sticky icky all right before we get in the episode we got to say something really quick sean i sent you that thing to share so if you go to sean or i’s twitter profile you’ll see it or you go to ratethispodcast.com mfm it stands for my first million mfm if you leave a review for us on apple podcast we’re going to select one person or we slept in one person oh no we’re selecting six people and we’re going to give a grand to six different people and we’ll announce that winner in a couple weeks we’re doing this because if we get more reviews in a very particular amount of time and you get more momentum you go up the charts and if you go up the charts you get more listeners or at least that’s the hypothesis so we’re incentivizing listeners we get more excited we our egos grow and i know that’s what everybody wants so let’s do it yeah i just went to a conference today um cody sanchez has gone for us to talk and uh dude everyone listens it’s pretty fun how was uh how was the conference she has uh her brand is like contrarian contrarian capital i think it is um and so this was the contrarian conference or something like that yeah and i love her and i love the conference but i it was kind of silly like in my head i was making a joke because they had contrarian um merch and they had like hundreds of the same ones and i was like well if we all bought this like that’s you know it didn’t really work that you know what i mean like uh so anyway it was great though no she was cool i asked i think there was probably 300 people i asked who listened i feel like everyone all their hands went up people were talking about us they always confuse our voices but we get that all the time all right i love it and i was supposed to go to that i didn’t go you went um there’s like a bunch of different motivations people have for going to these things what was your motivation because some people would say oh going to these conferences is kind of a waste of time and other people say no i love it i network i learn things i just want you because she’s she’s my friend and it’s near my house and then in general because you’ve gone to some of some of some other ones like this like the podcast one you went to recently or stuff in new york what uh i guess give give people how you think about this stuff uh because i think it’s good to have like a frame of like okay this is why i go to these this is how i go to them and this is what’s come out of it for me um i like meeting people who i know on the internet that makes me feel good and i also like going you know i’ve paid money to go to some events i’ve paid five thousand ten thousand dollars to go to some events um because i can meet one person and become a lifelong friend with them and that pays for itself but makes me happy so yeah i don’t mind going yeah i do the same thing i kind of have in my head um i’m here to learn one thing like i want to have one great idea like a truly great idea maybe it’s a tactic a marketing idea a realization of something i need to change or a new business idea a new whatever so one great idea is my like bar and then one great person if i do that it’s worth it that’s like such a low bar but um yeah but what’s better what like the the good part about that is then you go hunting you you’re saying i’m here to make me one great person who’s a great person and if you’re talking to somebody who’s not that great you’re like all right peace out i’m gonna go bump around and see who else is here right and same thing with one great idea you can listen to a talk and you might otherwise kind of zone out or say oh this doesn’t apply to me but if you’re just on the hunt for that golden nugget the one great idea and it’s like dude in the eight hours of this event there’s gonna be at least one great idea um it changes the way for me at least it changes the way i i attend these things yeah i agree i’m the same way and speaking of great ideas do we i want to talk to me about let’s go to these three news stories that you want to go over because i actually yeah i think you selected all three and they’re awesome they’re awesome all three are pretty good so um all right so i have three you have one let’s start with yours you have one that’s about elon tweeting about the uh elon tweeted something about giving away six billion world hunger what i heard was you tell me if this is correct my wife told me this story she goes do you hear you know somebody tweeted out or there’s a news story that said you know these billionaires the elon’s the richest man in the world now if he you know with six billion dollars he could end world hunger and then he replied to it he was like if you could show me that six billion dollars would end world hunger i’ll write the check now like i’ll i will happily do it just show me that that’s the case and um so that’s all i know about this what did you oh you don’t know what happened after that okay so uh someone i forget who maybe cnn said if the billionaires would donate six billion dollars we’d cure or end world hunger elon like you said replied and goes and his language was great he goes show me how that will happen and i will sell tesla stock right now to pay for six billion dollars of this stuff and i forget the exact title but something like the head of you united was it uh world hunger or united nations some like official international body the head said you know better yet you know elon just come and we’ll show you our processes and how we work and elon said no sunshine is great uh tell me in tweet form how this is gonna help and where the money will go and i will send you the money right now and he goes you know this is just too complicated to say over twitter and um i think and i’m not like the biggest elon nut hugger i think that this totally made elon look great these types of things should be done in a very simple way where you can explain what’s happening you don’t have to say like um you know exactly but you could say like you know 30 of the budget is going to go to hire around 10 000 people who we think can give out this much you know whatever that is a good enough answer and uh the guy didn’t do it total miss and when we were talking to big clown guy uh natter a few days ago he was explaining what he does and then you go no no no this is what you do and you explained it so much better and he goes oh that’s how i should always explain it everyone should have that skill that you have and you could actually develop that skill it is a skill it’s not just a talent and anyway this guy blew it and i thought it was an awesome tweet thread you know so two things one is on that skill so how do you develop that i’ll give you two kind of unorthodox ways that you develop it the first is you gotta have [ ] callers around you so like you know the way i was like no no dude that’s way too complicated uh most people just won’t say that to somebody and uh there’s this great clip i know you like uh you watch some joe rogan as well as i do and this is a great clip of brian callan who’s one of the kind of friends and the crew of joe rogan and they’re they’re doing their fight companion podcast which is where they just watch the fight and they’re just shooting the [ ] uh drinking and eating cheese and you know drinking wine eating cheese and they watch the fight and like i don’t know a hundred thousand or more people will tune in to like hang out with them while they watch the fight even though the fight’s not visible on the screen that’s just how fun it is for them to hang out and during this thing brian callan who’s a lifelong you know like comedian he’s kind of like a scrawny guy and joe’s kind of like a former martial artist he’s sort of like a meathead and the other guy on there is an ex-pro fighter so it’s a bunch of kind of like bros and um and brian is saying something he goes brian’s like oh man if somebody ever tried that on me bro you know i would you know what i would do and they were like and they just kind of moved on for a second and then he’s like and the guy said it again like nobody really addressed it and he’s like he’s like he’s like i would never let somebody it would be it would be on and then joe’s like right what are you talking about he’s like why are you saying [ ] like this he’s like you know you don’t you’re not gonna do anything first of all and he’s like he’s like the problem brian is that you hang out with people that will let you say [ ] like this and he’s like you need to stop hanging out with whatever type of people let you let you get away with just saying things like this and just you know letting it fly and after that i just thought that was hilarious and then i started noticing oh there’s some people in my life and i call them you know the people who will tell you there’s food in your teeth it’s like there’s two types of people there’s people who will see it and not say anything and then you know four hours later you get home and you’re like bro what the hell i had spinach in my teeth the whole time why didn’t someone tell me and then there’s the person who will cut you off about here you go you got a little something in your teeth here and you’re like oh [ ] i’m embarrassed but like the embarrassment was localized to the moment and then you like saved yourself from there that’s a true friend and so you want people around you that will tell you when you’re saying something that just makes no sense or is confusing or is like delusional or whatever and they’re just like what are you talking about why are you saying that you say stuff like this all the time this doesn’t make any sense or you say stuff like this and honestly i think you think that’s really awesome but no when other people hear that they don’t hear really awesome like we asked people like that abreu who used to work for us and we love he was explaining to sean and i what his new business does and he wrote this long paragraph and i think sean goes uh i don’t know what any of those words you just said mean and then he was like i buy con i buy land but before paying for it i hurry up and resell it to someone else and make a profit it’s like okay great now i understand what that means right yeah well actually the first thing he said was bro i just wrote you two paragraphs and i didn’t even have to address it because he knows if you wrote two paragraphs and i don’t know what you’re what i don’t know what you do still that’s on you that’s not on b and so uh you know the the burden’s on the owner so one thing is having people like that around you the other thing is hanging out with somebody who’s good at it and maybe you know hopefully for some people listen as this podcast helps them because i think we both do a good job of explaining stuff without too much jargon no you try at least and so the more you hang out with people like that you’ll just naturally through osmosis like you know this it’ll just pick up it’ll be like a sponge it’ll just come right into you you’ll just start getting better at it because you’ve heard our voices in your head all the time and so hang out with people who do it like i have a buddy uh suli who’s great at this you’re really great at this ramone’s really great at this so like our best friends all are really good at just saying things for what they are in a way that’s simple and easy and fun to understand and like so then you by nate you know you’ll naturally get good at it speaking of friends what uh what did so i was out to dinner with moyes the other day and he made this comment about casper he ends up tweeting it pretty brilliant you want to talk about that i do it can i say one thing about the elon so so the guy from world hunger who’s like oh it’s not that simple i can’t really break it down all right so that’s obviously a loss on their end but there is a great example of a charity who does this well so um have you seen what charity water does for their like accountability because uh what elon said was the whole thing i’ll donate the money my only thing is it has to be kind of like open source and transparently accountable where the money is going and what’s the effect of it jack dorsey did that as well and he just jack dorsey did it with a [ ] google spreadsheet right yeah he said here’s the here’s all the money here’s where it’s going here’s the schedule and here’s it’s a google doc it’s a google doc that anybody can go view and you can’t edit it but you can go view it at any given time and see how the money thing is amazing so so the founder of cherry water he uh his story’s amazing but like i’ll give you kind of the the fast forwarded version of it so fast forwarded version of his stories a guy named scott harrison he um he grows up and when he’s a kid his mom got this like um terrible illness she basically she was a stay-at-home mom so the dad goes to work kids go to school she stayed home and the new house they had moved into it had like a gas leak or something like that and so it like silently killed her autoimmune system so she got so uh her immune system was so compromised that she could not like go outside she could not like touch objects that had not been sanitized she couldn’t do the laundry because like the the cleaner the bleach has chemicals in it and it would just like kill her if you know they had to like do everything by hand using baking soda six times or like if she wanted to read a book scott would go put it in the oven first and they would have to sort of like kill all the bacteria like by sanitizing it with heat and then hand it to her and she’d wear gloves and they would like slowly turn pages and stuff like that like it was insane and so he um but even that whole time they didn’t sue the company that had that was responsible for the leak because they were like very religious family and they were like you know this is god’s plan and so scott who like grows up with this really unusual childhood he’s having to like in many ways be the caretaker of the household because his mom wasn’t able to do it he sees his mom’s suffering he’s like dude you know effortless religion [ ] i’m uh i’m gonna go live now so he gets he turns 18 and he like goes to college but i think i think he might have dropped out not 100 sure but he he starts partying like crazy he moves to new york and he becomes like a guy in the party scene and scott if you’ve ever seen him he’s a good-looking guy he’s sort of like a george clooney-looking [ ] like he’s like very like it’s like guy gets gray hair and he looks even him more handsome than he did before and so super great storyteller really funny just he’s a great hang like i’ve hung out with him and you’re just like charmed you know the whole time and so anyways he’s he hits the party scene and he eventually he’s like all right i gotta make some money so he becomes a party like promoter so his job was and he says this like my job was to convince rich guys that they needed to pay me like five thousand dollars six thousand dollars to get to go buy this hundred dollar bottle of alcohol and he’s like they knew what they were doing and i knew what i was doing and it worked anyways and so he starts making a killing as a party promoter and he’s got the fancy watch he’s got the model girlfriends he’s got the nice penthouse in new york and he’s getting paid you know whatever some vodka company will pay him 2500 a night just to be drinking their liquor instead of somebody else’s liquor and somebody will pay him to wear this watch instead of somebody else’s watch and so he’s kind of the man in this scene but a few years go by and he’s like starts to feel you know as you do when you kind of get in this party lifestyle he starts to feel a little empty inside like the the high is no longer doing it for you anymore and i think he was the story is he was on this guy’s boat this guy his name is what is the name guy the guy who created cirque du soleil like guy canadian guy some name like that i can’t remember off top my head billionaire canadian yeah he’s on his yacht or boat or whatever party boat and scott’s just in the boat like in the room where he was in there’s a bible and he kind of sees it and he grew up in a super religious household and then has you know become basically like a sinner um and he just sort of picks up the book and you know he’s hungover one day and he starts reading it he’s reading the bible and he starts to like kind of like get emotional and he sort of has this literal like come to jesus moment where he’s like what am i doing with my life like you know like i’m not a good person i’m not doing good for anyone in the world and like you know i’m just like partying and drinking it’s all a very shallow lifestyle it’s like you know uh these these hot girls and then these rich guys and this like lifestyle that’s not great drugs alcohol that sort of thing so he’s like okay and i think also he literally woke up that day and he was like numb in his hand he’s like this is like a metaphor i’m not just numbing my arm like i’m numb in life right now so he’s like okay here’s what i’m gonna do i’m gonna take the next six months i’m just gonna take a six month break from this lifestyle and i’m just gonna what’s like the most servant like servant thing i can go do how can i just serve people you know how can i go do a very christian thing here and um and so he applies to all these non-profits and they reject him they’re like you’re a party promoter like we don’t he’s like dude i’ll work for free and they’re like no we don’t need you you’re kind here he’s like are you sure like i’m good with people i’m good with like events i’m good with all this stuff and they’re like no no like where you come from that’s not that’s not what we’re looking for here so he gets rejected after one after another and finally he gets this one group to agree to let him work there if he pays so he had to pay to go work there so he basically made a large contribution to um mercy ships i think is what it’s called it’s basically a thing where hotshot doctors in the u.s like for one week out of the year they go on this boat and it goes to africa and then they they spend all week there doing like uh pro bono surgeries on people who need surgeries and then they come back and he’s like he kind of his background is photography so he’s like oh dude i’ll i’ll take photos of this trip uh that’ll be my contribution and so he goes there and he’s got the photos still he’ll show it to you and when he gives us talk he shows them it’s like what they were doing was there was kids with like uh massive like tumor growth so like you know they would have like a huge lump on the side of their head like the size of a volleyball or like in their jaw their jaw would be protruding out like six inches because they had this growth and like all they needed was just for it to be removed like they’re having trouble eating breathing it’s like not even a cancerous thing it’s just a benign tumor but this needed it removed and he’s like dude the line was like a mile long and he’s like the saddest part is we um you know we couldn’t do all the shirt though the one week was up and there’s still people in the end of the line that didn’t get their surgeries or whatever so he’s like okay um i’m not just gonna do this i i’m just gonna like i’m gonna go back i’m gonna dedicate my life to like you know uh helping people because i can’t believe what i’ve been doing and this was so meaningful to me and whatever so he’s like for he does two things he goes to on the ground in africa and he says what is the like root cause what are some of the root causes of this problem so he does kind of what elon calls first principles thinking which is why does this person have this crazy tumor in the first place it’s like well they might have this tumor because um you know they are are they don’t have clean drinking water and sanitation and so there’s like highly infested things so you found that on all these different axes like why are these women uh why why are women um you know falling so far behind in society and not getting high paying jobs well because they actually have to spend five hours a day just walking to the nearest waterhole and walking back carrying this 40 pound 50 pound jug of water and that takes five hours in a day and then then they have to use that water quickly um and like do all the laundry cooking washing of their kids and then like they don’t work and then because of that they’re like you know stuck and economically stuck so anyways he identifies waters the root cause he’s like okay and he asked himself a very important question he goes why have i not been giving to charity like i kind of knew they’re suffering all around the world kids in africa are starving and need water and all this why didn’t i give and it’s a this is the connection to the elon thing he’s like because i always kind of felt and heard like you never know where the money goes or if you give if you get even if you do give money um you have this worry like i don’t know if this is even making an impact and they never closed the loop so you never knew where the money went and you never saw the impact of your dollars it was just like thank you goodbye here’s your tax here’s your tax deduction goodbye and so he’s like all right i’m gonna do it differently he’s like he’s like he didn’t know anything about the non-profit space but he’s like all right let’s just do the basics he’s like what if 100 of the money went to the cause and he’s like that would like clear up that question mark he’s like and then he’s like also i’m a photographer like why don’t we just take photos of the place where we do the project and send it to the person who gave us the money like if you contributed we know where the project is why don’t we just send you a photo when we do the project and say hey here’s what you what you did and he so he’s like i’m going to use gps trackers and photos to make people feel the effect of their giving and that’s what he does now that’s what he does now so he goes back to new york he throws a party because he’s like uh that’s kind of the only thing i know how to do if he’s like i’m throwing a party it’s my 30th 30th birthday or something like that he’s like throw a birthday party but instead of giving me a gift at the door charge i just want you to give 30 to the cause i’m 30 years old give 30 bucks to the cause and so people come they have this party because he’s got a great social network in new york and uh you know they forget about it three months later he sent them all photos of the project that they contributed to he’s like hey that that all added up we drilled these two water wells they used to have to walk this far now here’s how far they walk look at the map and um you know we turned a four-hour walk into a you know into a 10-minute walk and then he’s like um here’s what the women have to say there’s videos of them thanking you and here’s like the kids you know here’s the water like fresh clean this is the water they used to drink it’s like dirty here’s the clean clear water that’s what you did and people were blown away and that became the name they raised a ton of money like 400 500 million dollars yeah well the story gets a little crazier so he he’s he’s like i’m going to stick to this 100 model 100 of money goes to the college and people were like well bro there’s a reason people don’t do that like how are you going to pay for your own salary or the salary of anybody working on the charity he’s like we’ll do a separate bank account literally two bank accounts one that’s public donations that go to the cause and one that’ll be private donations for people that want to fund our charity to do this and he’s like and of course people are pretty interested in doing the 100 thing unless people were into the private thing and that’s where like kind of full circle uh uh i guess like i don’t know how long i want to go on this but i’ll give you the kind of the cool the cool last bit so he’s basically running out of money um for the private side for the actual for himself and he’s just sleeping on couches and he’s like you know i got a backpack to my name and like i’m the only employee so it’s fine and but even still he starts running out of money his friends are kind of kicking him off couches he’s running out of friends houses to go sleep in and he’s like all right um he’s like let me just do what like this whole thing may end but i want to do as much good as i can in the meantime so he’s like you know this birthday idea of giving up your birthday like we’re all pretty privileged we don’t need birthday gifts i gave up my birthday that’s how i started this charity like instead of giving to me give to them um he’s like dude there’s these social networks now facebook myspace bibo that they all have like millions of people and they all have this birthday feature people go right on each other’s wall he’s like so he wrote a letter to mark zuckerberg to like tom from myspace and to michael burch from bibo and he wrote a letter to all of them he said hey you have millions and millions of members on your platforms they all have birthdays log registered in the platform and people looking for a way to wish each other um it would be amazing if you added a charity button a way for you to give up your birthday and let people donate for your birthday to the cause um he gets no reply from facebook he gets no reply from myspace and he gets no reply from bebo so he’s like uh whatever didn’t work now a month later michael burch from bebo says hey scott sorry i missed this uh we actually just sold the company so he just sold the company for 850 million dollars and he said uh you know so i can’t really implement this here but you know what i’m in new york uh let’s just meet up for an hour and so he goes and he meets with him scott gives him the full pitch michael’s like a british guy he’s pretty reserved you know in person he’s he’s you know british people have like a dry sense of humor too so they’re not like the most like emotive when you’re talking to them and so scott basically said feels like oh i told this guy what we’re doing he basically didn’t flinch and he moved on like whatever and um he had six weeks of runway left in the bank he’s like ah that was my last that was my hail mary i have six months six weeks of runway left and then this whole thing ends but you know what we did some good work and then michael wrote him an email right after the meeting like the next day and he just said hey scott loved her chat um send me your wire instructions i’ll send you a million dollars use it however you wish keep rocking and the million dollars kept them going for one more year and then since then they’ve now raised hundreds of millions of dollars for the charity they’re like one of the biggest privately backed charities because they have this 100 model and michael got them in with other kind of wealthy tech people and they all like this idea of like accountability transparency and closing the loop on on giving and feeling the impact like that just feels right to the kind of the new new wave of rich people and so it’s like taking off since then that’s the crazy story of charity water that you just gave them a 30 minute infomercial yeah uh i don’t feel bad i’ve been with them to africa and literally it’s like uh it’s not only like changing lives but when when he goes there people literally he’s the most humble dude but i went to the village and people literally feel like he’s jesus hey because it’s like a white man who comes to this village he’s like the only white person ever like in the village and b because he like whatever he’s doing when he leaves here somehow results in fresh water being like given to our village and they’re like thank you whatever you’re doing out there is is you know god’s work that’s badass i should i should give to him i have not but after that pitch i will um can i let me tell you about someone interesting have you heard of a guy named aj patel i bet you haven’t never heard of him what is it you have not heard of him and you’re going to be surprised that you’ve not heard of him so this guy’s way low-key and i got interested in the space because i’ve been a lot really interested in low sugar products uh whenever like whenever i’m in new york or particularly new york because i go to like corner stores all the time you see moms with their kids and they buy like hawaiian punch or like [ ] gatorade like a sugar factory a corner store and a grocery store are sugar factories it’s sad and i feel horrible dispensaries maybe yeah it’s horrible and it’s because maybe that’s just more convenient but and people just i don’t think know better so i’ve been doing research and i found this guy named aj patel so listen to what this guy’s done so he started a this he’s only 32. so he started this thing called smooth viking which was a men’s grooming business that he sold then he started in insta naturals which is a natural base skin care uh business it did 55 million dollars in 2018 um and it’s been uh i mean it it crushes it um and then he started zen wise which was plant-powered vitamins and supplements and it was doing okay like five to eight million dollars in revenue but then he was like the thing about vitamins like people are a lot a lot of people are asking me for vitamins for my pet for their dogs for their cats and he was like that’s cool and it’s even cooler because you have no idea if it works right that’s the funny thing about pet stuff and and i give my uh pet vitamins and i’m like does it work i have no [ ] idea right but i’m doing it and so he starts this thing called zesty paul’s and zesty paul’s is kind of amazing and so he kind of creates a strategy where he does two things the first thing that he does is he spends a lot of money up front on making the brand really good you know a lot of guys a lot of times guys like you or me will just kind of throw something up there yeah like an mvp right the minimum viable product kind of looks shitty and crappy at the beginning yeah so he hires a a a agency or a branding agency and they help him make zesty paul’s like look really great and then he his whole goal is to first dominate amazon then go to retail and i was doing some research and i used uh jungle scout and i also watched a bunch of videos so zesty paul’s recently sold for 610 million dollars it’s estimated on amazon they are doing around 800 sorry 8 million dollars a month on amazon only and then probably another seven million uh through their retail outlets it costs around eight dollars to wholesale and it sells for twenty six dollars so it they could have been doing around forty million dollars in profit when they sold and they sold for six hundred and four uh ten million dollars now the reason i’m bringing this up his new thing it’s called high key cookie it’s and i’ve noticed that when you look up high key co-founder they’ll want they don’t mention his name he’s trying to hide it for some reason i don’t know why he’s trying to hide i don’t know what his deal is he just prefers being low-key um but he doesn’t talk about it too much i think he just prefers being low-key but uh high key is basically low sugar cookies and he’s doing the exact same thing where he’s getting on amazon and he’s ranking and he’s got 60 000 reviews and it’s a pretty new product already it’s pretty amazing what this guy’s doing he’s doing the same strategy over and over and over again um are you looking at uh high key cookies on i’m on his uh his linkedin right now so he’s listed as the co-ceo and uh he looks like he’s in florida how did you hear about this person i two different ways i was researching um low-carb cookies because i’m fascinated by that i’m right now some current obsessions are low sugar cookies and low sugar ketchup and other sauces right um and i was researching and i saw high key and i remember a friend our mutual friend told me about this guy who had this thing called zesty paws and his whole strategy was to dominate amazon and then go to retail wow very impressive uh very few people have done what this person has done so i think he’s 32 years old or 31. yeah that’s pretty impressive um have you tried fat snacks it’s like um so i’m i have a list of lists here of companies that are interesting and i did try fat snacks and i thought that they were fine i thought they were okay but the problem that i have there so i eat quest all the time are you familiar with quest bars yeah i like the quest chips because i’m a chip guy i don’t have a sweet tooth but the quest they basically have like a version of doritos and honestly they’re like the only keto snack that i actually i’m like it like actually replaces the craving you know yeah so i eat a ton of quests now but there’s like a big background here so uh how do you say his last name tom bilyeu he spoke at our event hustle county pretty cool guy this was actually one of the first d2c kind of home runs so basically they bootstrapped this company and within five years sold it for a billion dollars and they were making it i think tom’s mom or someone in his family was really overweight and he wanted to create a low light glycogen food you know lower carb food for his overweight family member and he’s like i just need it to taste good so we can replace candy and so he creates this thing and revenue is doubling like every month and eventually they sell it for a billion dollars when they get to 100 million in revenue but there’s a it’s quite controversial so i eat them but a lot of people don’t like it because it has sucralose or is that how you pronounce it sucralose yeah that’s right and it’s basically like a sugar alcohol and they also put a lot of fiber in it and so their protein a lot of people don’t like it because it’s like not the best protein it also has palm oil a lot of people don’t like palm oil so a lot of like health nuts including justin mares who i talked to about this they don’t like it because it just kind of got some [ ] in there but frankly i love it but um the reason why quest bars are amazing is because they are in every [ ] store if you go to a 7-eleven or a gas station they’re gonna have quest bars right whereas a lot of the other stuff the reason why i don’t consume as much as they’re not they’re just not convenient right and so anyway i’m getting incredibly fascinated with these low sugar products that are in every store well i like the idea of the low sugar sauces i think low sugar ketchup is a great one to go after who’s doing that is that is that a business that’s like saturated or no it’s not a vessel that’s a great idea i think it’s fantastic and the reason why it’s fantastic is when you’re trying to eat lower carb and eat healthy mustard has no calories and no sugar in it barbecue sauce is [ ] uh ketchup very high sugar you know if heinz uh heinz has a 45 billion dollar market cap they make something like seven billion dollars a year just in sauces and condiments most of it is basically ketchup and ketchup is crazy high sugar their ketchup the reason why it’s that bright red is there’s a ton of um a ton of sugar in it and there’s a company called primal kitchen which sold for 300 million dollars in 2018 it was started by this guy who kind of looks like an old version of me his name’s mark uh what’s his name mark sisson i think his name you have to look up mark sisson s-i-s-s-o-n i believe that’s his name um and he had a whole line dude just does look like an older version of you that’s hilarious yeah he looks like an amazing he’s ripped this guy i don’t know how old he is he looks like he thinks he’s like 70s 60s yeah and he is like absolutely shredded which is impressive well i meant his face we kind of like similar faces but older dude this guy is this is you man this is going to be amazing wow you’re going to look like this so he’s 68 years old crazy and so he had this this business where he he had a blog he’s been a blogger forever a health blogger and he created primal kitchen which is a uh uh they make dressings dude the dressings and ketchup are the worst dressings have some like an italian dressing so much [ ] sugar oh i’m eating a salad it’s like how’s the salad like 1200 calories because the dressing so i’ve been like super curious about this and tell me what you think about this the problem with a lot of d2c companies is that the cost to acquire a customer is stupidly high right now it’s i think it’s the highest it’s ever been uh everywhere the highest it’s ever been yeah correct but particularly with the facebook change and competition it’s just getting high so our friend andrew created this thing where basically he he this was illegal what he did but like whatever it happened he he created a menu and put it on ubereats and was just like making low glycemic muffins so i guess like almond flour muffins at home and putting it on ubereats and he just like made the branding really cute could you just create like one of these high key or these low carb cookies or something like that and just put it on the local ubereats start getting customers put like a coupon code in there i mean i feel like that’s an interesting way to kind of hack customer acquisition for a lot of these d2c things yeah i think that is kind of interesting although i don’t know how many people are gonna like order just uh like even a bakery it’s like okay yeah you’re getting like you know a dozen muffins or cookies or whatever like i don’t know if people would just go order um like a sauce or something right like this no but the cookies yeah i don’t think they would do cookies but have you heard of some insomnia by the way it’s only illegal because he just didn’t have a commercial commercial kitchen and a license right but like you could easily do that right you could do the same exact thing if you’re just if you’re not doing it out of a you know like a home kitchen or whatever you just need a permit right that’s the only problem with it yes correct have you heard of insomnia cookies yeah they’re insane yeah they’re insane they’re amazing i’m just thinking like i think you could do that from a cloud kitchen and then start selling them online i totally think you do that crumble is also like growing like crazy right now i think it’s one of the fastest growing franchises is crumble cookies um but let’s get back to this ketchup idea how do i convince you to start this company because you would crush it uh it’s in your area of expertise it’s a beautiful market because huge like huge demand um and it’s a consumable so you run out and you have to keep re re-buying um and people use a lot of sauce and you could turn this into a whole you can extend into other sauces but if you’d start with you know ranch or you start with ketchup you’d get like a huge number of people barbecue sauce like just two three skus you could do this and then with your marketing prowess like you could build you could literally build like a 500 million dollar company for this in like four years uh i think it’s amazing to me i i should the other day i went to the store and i bought ketchup i the other day i went to the store and i bought ketchup and it was it was like a hot i didn’t realize it was near halloween and they called it blood tomato and i thought that meant like oh like it’s like it’s a weird category where it’s only the tomatoes and no sugar and i bought it and it was just normal hinds and i’ve been eating this [ ] all week because i don’t want to throw it away and it’s horrible the sugar in heinz is is it makes it taste good so sam sauce what are we calling uh what do we call the the the brand here [ ] southern sticky icky yeah yeah there we go dude yes there we go oh my god dude southern sam is such a good i’m not joking like okay i’m just gonna use you as the face of this i’ll build the bread i’ll do all the work maybe and actually we’ll watch this thing dude this is an incredible you’re like sticky icky like yeah if you want to if you want to pre-buy southern sam’s sticky icky you need to just uh i don’t know dm me on twitter by my twitter is seanviewfeeddmv and say i’m in on southern sticky icky which is this first sauce that’s coming out and it’s gonna be a i mean you’re a fitness influencer so you gotta have that balance you’re gonna have the health aspect we know that we’ve seen the body we’ve seen the videos what we need now is that flavor but southern sam he’s been this is what you needed back when you had your hot dog stand you just needed the condiments you just needed a it’s a full circle oh my god i love it have you heard of um sir kensington ketchup yes my buddy our buddy invested in it who oh okay great it sold for uh 140 million dollars yeah and i think it undersold it sold pretty you know sold early on yeah but i think at that time also like i think selling helped them get into retail in a big way and uh you know that’s one of the good things about selling these companies is like if you could do the branding you could do the cult online following you can do the d2c online marketing side you actually almost want to leave some dry powder for the acquirer you want to go to the acquirer and say yeah we’re doing amazing and we have we don’t even know how to do retail you guys know that right you guys know you got you got a buddy you play golf with who does target who does uh safeways nationwide on the you know you have the the guy in the rocky mountain region for whole foods he’s your ex frat buddy oh fantastic like you should just buy this and then boom you already have your growth story baked in of how you’re going to improve this and so that actually helps you sell the companies to have that dry powder of sure what can the acquirer do they don’t want to see a lemon that’s just been squeezed all the way all the juice is out because then it’s all priced in dude maybe i’ll go to the store like right for this just go buy a bunch of organic and low sugar ketchups and see what’s out there like i’ll be the first to admit the sugar in there makes it taste so good i mean i’ll just eat ketchup with a spoon that’s just so good this is the idea okay okay okay i got full last episode it was like uh what can we do with this marketing budget that will uh like make for a good story beyond just you know direct response ads this is what we should do with the marketing budget we should be launched showing we’ll do case studies basically do a fully open business basically we should show how we would build this business from scratch and southern sam’s southern sam’s secret sauce is gonna be the first place that we start we just we take we take 10 grand we take 10 15 grand and we put that instead of going and saying hey listen to our podcast we actually just tell the story of how we’re building this on the podcast and that will make people want to tune in they’ll see the growth and they’ll see the success story which is ultimately what this podcast is about brainstorming great ideas and then talking about how you bring how you would bring them to life it’s definitely interesting i think it’d be fun i got to go to the store though and buy a bunch of them and see what they’re about and see if they taste good but uh this primal kitchen one seems incredibly interesting i and i would imagine that these i bet the multiples for selling these i would imagine they’d be all right right they’d be pretty good because the repeat purchase rate on ketchup is crazy high i’d have to imagine yeah i think you can safely sell for you know somewhere between 2 and 4x revenue depending on what your story is so how fast you’re growing how big that market is you know et cetera et cetera but i think two even up to five times uh revenue is possible for a brand like this but yeah well then i’m only going off a couple of data points maybe those were outliers that i know about i’m not sure yeah i’ll go do some research i’m gonna figure out i’m gonna i’m going after the big ketchup yeah exactly we’re going after big red we’re gonna have to we’re going after big sugar i also think uh maybe maybe a gum line how about gum do you like gum sugar most gum is sugar-free you know it’s like the best sugar-free gum it’s better than scripting we have to go to the next level we have to be like xylitol free or due to trident remember remember how trident is like dentist recommended that’s been sugar free yeah well we are all recommended we’re selling choose gum if anything you’re gonna do gum with caffeine in it there’s this guy named there’s this guy named nick simmons he’s got this business called run gum and it’s gum with caffeine in it lucy doing is that what that is yeah so i invested in a nicotine uh gum company i think it’s only doing okay gotcha dude i love nicotine though i i i here let me show you what i have in my pocket right now can you see this uh i see it’s a little fuzzy but i see like a vial of some kind what is that it’s nicotine lozenges and it’s just it’s just like a cough drop you just put it in your lip and you just kind of suck on it i love nicotine man is that the same thing as a pouch no there’s no tobacco there’s no tobacco it’s just it’s literally just like a mint it’s like a mint that has negative that does what why do you do that to stop to quit smoking or to give you a bun yeah so like i like cigars and so if i could i would smoke cigars all day and so now i can go like two three weeks without a cigar and i just like sucking on these things i feel like nicotine does have a lot of interesting advantages and i don’t i don’t know if nicotine is inherently bad for you in itself i know that the tobacco is so i bumped into this guy on twitter and go to go to it’s oklahoma or just just google oklahoma smokes have you heard of this brand no but i love it so oklahoma smokes almost like a sister brand to southern sam sticky icky but uh oklahoma so so this guy was like oh yeah i have this uh like agency and we were doing kind of like branding for other products and then we launched our own product uh oklahoma smokes and it’s basically it’s an alternative uh thing you could smoke it’s like an alternative cigarette and it’s got no nicotine and no tobacco but it’s got the form factor of a cigarette so you light it up you smoke it you puff it out whatever and um and it’s doing really well so he’s got like a good amount of traction and i was like wow uh that’s great like you know what’s uh and so i looked him up in the kind of like ad library and i was like dude i don’t see any ads he goes oh yeah you can’t advertise for this on uh facebook or like pretty much any ad network because they don’t want you advertising cigarettes even though this is like a nicotine free tobacco-free and um he’s like so it’s all just organic like tick-tock basically people just post about it on tik-tok and it goes like kind of viral on tick tock and that’s where all the growth comes from it’s just people organically talking about it on tick tock and they have a slick website the website is very nice the branding is great the whole thing is really well done um and i i like it a lot so you know oklahoma smokes maybe we work with their agency for our uh for our brand all right we got who they use it’s all coming together they are the agency that’s what they were doing are they based in oklahoma no i think it’s just a brand like the dude was like just like some indian dude although i’m an indie dude i was born in oklahoma so i guess i guess maybe they do have some oklahoma roots i’m not sure but i think it’s a lot more like where do they live isn’t this just like isn’t that an amazing brand name oklahoma this is amazing oklahoma just sounds like a band i want to wear this like everything i want to be a part of oklahoma smokes oh that’s phenomenal that’s a brilliant name right like if that was my nickname you know i’d be a happy man so and they’re doing here’s their dude look at this company they’re doing no nick november so no nicotine november uh and they’re giving you discounts um september baby this is good i like these guys where do they live do you know uh i have no idea i don’t even know if he wanted me to shout it out i mean he probably is happy with it but uh i’ve never tried it i don’t smoke so it’s like not a product i would use i just thought the branding was extremely well done and so i kind of added it to my swipe file of like oh this is this is a great name and a great brand here and uh really cool product idea and challenging you know it’s it’s doing well but it’s not huge because very hard to grow very hard to market something like this um through traditional channels so i don’t know what they’re going to do you know hopefully this gives them a little spike or whatever but uh you know i think that’s the hard part about a business like that you want to do one more um yeah let’s do one more do you have one or you want me to to pick one here you we didn’t do our news thing i kind of hijacked it let’s long ass chris harrison pick one of those pick one of the two uh let’s do the zillow thing so so the funny story about this zillow thing so zillow came out and they said hey we are shutting down our ibuyer business which is basically where they would just uh you want to sell your home boom we’ll give you an instant offer our algorithm will do a calculation and spit out a price you don’t have to go through a broker you don’t have to stage your house you don’t have to do like three months of showings like we’ll just give you an offer today you can sell your home today and the idea was this was you know sort of an idea they stole from open door so open door was a startup that was built to do just exactly this instantaneous uh like instant sales of houses and um zillow saw open door growing and value and now open doors public and they created a couple years ago their own in house like competitor they copied that feature but it didn’t work so they got stuck they just came out and announced hey we lost 500 million dollars this quarter oops uh we’re going to lay off 25 of our staff and we have 7 000 homes that we need to unload because we’re getting out of this business and they’re getting 1.8 billion they’re getting out of it because they also are getting criticized constantly zillow is what everyone uses to get comps for homes and if the person also buys them you could easily manipulate the price of things so if you they can buy a home in one neighborhood knowing that it’s going to increase the the a lot of different things so and it’s competitive with their core business so they’re which i give them credit for because most companies they wouldn’t do it for all these reasons we’re mentioning right now they would just stay out and they would get disrupted zillow tried to not get disrupted decided to add this feature but like their core business is basically selling to agents right for consumers they give you price information and you’re supposed to be a trusted source so that’s one challenge the other conflict was the main business is agents buying leads from from zillow and if zillow is the buyer then they don’t need the agents they are their own agent and so they were competing with themselves in many ways so anyways you’re getting out of this business uh you know big kind of uh uh what do you call it like a scar from like you know a bruise from from going after this the stock price is just in the [ ] which is ironic because we’re in this group chat where for months like the last year basically these guys have been our friends have been like pimping out oh dude zillow zillow’s brazil is a great boss yeah and i was like 25 000 worth exactly same i bought i don’t know like 50 or 100 dollars worth of it and i’m down big everybody everybody in the group is gonna be for something yeah we’re all down like somewhere between 30 and 40 or something on this and i agreed with it i thought so i think zillow’s the greatest thing ever because to me like what do you do when you’re in a fancy neighborhood even if you’re not buying a home you just go into zillow you know it’s a category owner they own it right yeah so so you know zillow the stock is down big right now uh the funny thing is open door stock also took a beating so they’re down like 12 just on the news that zillow failed at this people are like maybe opendoor’s also gonna fail with this and then they came out with this god-awful did you see this tweet that they did um that that open door did it’s the worst it’s the absolute tone-deaf idiot just you know what the best thing to do is make fun of them so listen you know what do you remember what biden did when uh he was running for president which part forgetting he shut the [ ] up because when you have the basement yeah when you have a guy like trump who does all the talking and like is his own worth sending me you shut up you hide and you don’t say a word that’s what open door should have done they should have locked themselves in the basement and said everyone is forgetting to mention us even though we do this exact same thing you just shut up um and that’s what they should have done yeah or they should have come out cocky they should have come out and posted a chart of how much ass they were kicking and just be like uh you know this is you know this does this is a hard business or it’s not for everybody and then just post their chart of themselves kicking ass at the same time zillow’s dying on the same business but instead i’m going to read this word for word you tell me if you understand one percent of this open door just randomly tweets yesterday we’re in the midst first don’t say midst we’re in the midst of a generational shift towards a fully digital experience comma with large comma unmet need for seamless experience in real estate period what a circle jerk said nothing then they reply to their own tweet with our track record of executional excellence and many years of investment and consumer experience technology pricing there’s they’re just saying words comma technology comma pricing comma and operations comma we are well hyphen positioned to me consumer demand with a best comma in class product and service open door is open for business we have demonstrated strong growth unit economics we are energized to help homeowners nationwide with simplicity certainty and speed i saw this and i was like what the [ ] the funny part the ironic part is this is done by somebody who’s like they’re calms their job is coms corporate comms they’re a communication professional this is their their actual job you want to know they forgot the number one most important rule for about copywriting you know what that number one rule is no one cares about you they only care about themselves exactly that’s the number one rule if you remember that you’re gonna be you’re gonna be 90 of the way there no one cares about you they only care about themselves it’s like when you go to a website and they go we’ve been in business since 1994. our pure our passion is to serve you our dear customers we’ve been serving customers for a long time and we know that we’re going to have a lot of high integrity when we handle you it’s like i don’t care no one cares no one cares yeah exactly they violated all the rules so what’s another rule um don’t use words like that yeah exactly you just talk like you speak talk like you speak uh write write like you speak and then use like you know eighth grade reading level you know this is like you know 20th grade reading level and i said none of it none of it makes sense to the average person uh they also didn’t say anything of interest like what did this mean this all this meant was please don’t sell our stock please don’t sell our stock please please please please don’t sell our stock we didn’t make the mistake they did and there were so many better ways to do this so that was i thought so i think there’s this idea so like when i um was running the show basically at the hustle my staff would be like we need to change the landing page or we need to change the footer and i’m like well why and they go well because it’s been the same forever and my analogy was always yeah but you’re thinking about it this kind of poorly for example our office was on a corner and there was a billboard right there and i would say how many people do you think are going to see that billboard for many many times in a row and they would say well most people are probably just passing by and i go yeah i would agree with that now of course you and i we’ve been sitting here for a month now and we see that same billboard every single day so we’re kind of sick of it but nine out of 10 people are just passing by and they’re seeing it for the first time every time what you need to remember is that most people are not just sitting there they’re just a parade you know walking by and that’s what like open door kind of like realize they’re like oh well yeah most people like so they’re probably in the thick of this and they’re seeing zillow flip out and they’re like everyone is everyone’s talking about this everyone’s thinking about us it’s like no no no no you are but most people don’t give a [ ] just shut up just be quiet hi now’s the time to hide yeah so yeah i saw that and our friend did something pretty funny yeah so moyes uh mois ali he he tweeted he tweeted out i love this tweet by the way this is just he’s very he’s a very good writer a great cocky tweet so he goes dear zillow and rich barton the ceo zillow who by the way is badass um i’m sure today is a tough day i’d like to purchase all the homes you have on your balance sheet in one transaction is that something you’d consider i will pay cash and closes in 30 days no contingencies are financing delays best comma m signing off with the initial is the power move by the way i will never ever write my full name again because the initial is so good and uh this is great obviously he’s not gonna buy 2.8 billion dollars uh worth of stuff himself but but maybe maybe uh maybe maybe he’s got some strategy here maybe he’s got some money he could tap into i’m not sure but yeah it also just like hilarious tweet and a way to kind of be out there on twitter and ride the ride the wave of something happening yeah i thought this tweet was brilliant he’s a troll and i love when he trolls because he trolls in a very smart way yeah um he’s a cocky troll and you know the the weird thing is how did they lose money doing this so like from what i can tell they’re like single family homes which is what they were buying seeing a family home market is like at an all-time high like people from covid are you know there was the great reassessment which is what happened during cove but everybody reassessed their job their you know can i work from home oh wow i didn’t need to travel for business i could just do a zoom meeting and actually it works do i need a gym membership i could work out at home i could do i like this job or actually maybe now that i have this break i can i can think about what i really want to do and i pick up this hobby and you know maybe when i’m at home in this marriage this marriage sucks you know maybe i should reassess that it was the great reassessment during that a lot of people move they move for different reasons if your job is remote you could leave high priced places like california and new york you could relocate to other places um if you’re at home all the time maybe you need more space and you want to buy you want to buy a bigger bigger place with a bigger yard and bigger office space or whatever so people were buying more than ever and they were buying single-family homes so people were leaving the cities and so condos were down in inside san francisco and new york um like 15 and single-family homes were up 15-20 so i don’t fully understand i’m sure there’s a totally logical explanation but you know it’s like how did you how did you lose money doing the one thing that everybody wanted you were buying and selling single-family homes like and i think what they said was you know the price was too unpredictable um so we you know we weren’t able to do this well and the other thing they said was there’s a labor shortage they couldn’t get people to come flip the home so like do the repairs you needed to to flip the homes um so yeah i’m sure like that’s really hard but that’s crazy they weren’t able to do it in like a bull market yeah i think it’s nuts it doesn’t make me like them anymore and i and i i’m a shareholder i’m bummed i guess i guess they should have just stuck to what they did you can hold your stock are you gonna sell i don’t sell so yeah i’m gonna hold okay cool me too um all right anything else you wanted to do or we can wrap it up here we’ll wrap it up here um don’t forget to go to what was the url uh rate thispodcast.com mfm as in my first million so rate this podcast go leave us a review if you if you get enjoyment on the show that’s kind of all we ask helps us move up the charts helps us get more downloads i think we’re going to do one more thing i believe what we’re gonna do i’ll kind of like i’ll say briefly um i think we wanna do something where you get we’re gonna have a budget of like up to 20 grand a month and the people who create clips for us sean and get the most views we’ll give them a little bit of money ah okay i like it yeah banner jonathan came up with that okay i like it yeah i paid to listen so it’s a good deal well you paid to chop up clips and and to be creative so kind of a good idea all right all right that’s the pod