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 do you own dogecoin you tweeted out that you owned it dude is that real yeah [ ] i mean like so it’s a huge thing for you uh well okay so the part i didn’t tweet out was that i took gains along the way feel like i can rule the world i know i could be what i want to i put my all in it like no days off on the road let’s travel never looking back all right everyone welcome to the episode do me a favor mfmpod.com so that’s my first million but abbreviated so m f m pod like podcast so mfmpod.com if you go there right now you’re going to see an inbox uh an email form enter your email and each thursday sean’s sending out an email that does a summary of all the episodes that we’ve discussed and or launched that week so make sure to sign up you’ll get a description of every single episode along with all the links that we’ve mentioned all the cool companies that we mentioned and also we’re doing a tour so that comes out soon but this june we’re going to june or we’re going to austin and then miami and we’re going to announce those dates like that so go to mfnpod.com and sign up and you can be notified when all this is happening and you’ll get your weekly email that discuss the podcast sean what are we talking about today today we talk about peak a testosterone subscription company we talked about b-roll which is a small little kind of bootleg company that i think could be big could be bigger and uh but it does have some problems and then we talked about a couple of gambling gambling websites gambling products that i think are cool zed run which is all the rage right now people selling digital horses for 20 million dollars and poly market a place where you can go bet on anything so we talked about that as well and make sure to listen to towards the end or i’m not trying to trick you you could just skip ahead but uh we said our feelings on today’s episode and i think a lot of people are gonna like what we had to say but you might need to listen to the first bit uh the first half at least understand the context so give it a listen do you guys want to do the intro yeah let’s do the intro i feel like i kind of [ ] up that episode i don’t feel like i did a good job but um leave leave this leave this part in too so i think it’s worth it why do you think it was a dud uh sometimes i just look at the clock and i’m like oh [ ] we’re halfway through the episode and i feel like we uh what have we said so far you know and then like that’s what that’s how i judge it uh abreu what did you think yeah i thought it was a b i thought we spent too much time on things that weren’t ideas um some of the ideas that we did talk about were things that we’ve talked about before like peak and zed run um thought b-roll was actually really cool i’m glad we spent time on that but overall b all right and you guys just didn’t have the energy sam you didn’t bring the energy today man is that great that’s crazy how you could tell i don’t feel well at all um but i didn’t think that i was low energy dude some days i’m just like having a sluggish day bad day i get on this call and i just i get your guys energy that just like helps me get through the day and that’s funny no i feel horrible i didn’t sleep well i mean i just feel i do feel sluggish i just didn’t i had a bad night’s sleep that’s so funny that that radiates that sucks i thought you i thought you were fine but you usually have one or two moments in the episode that are like the sam moment where you like get really either excited or you think something’s really dumb and uh yeah so so that didn’t happen but let’s talk about some stuff you want to talk about peak did you invest in peak i did when uh over the weekend i talked to him maybe friday and on the first call i was like and i was actually quite skeptical of this so this will give people the context uh this is one of the first ideas that we’ve ever discussed as this new scheme i think literally episode maybe one or two of when we started doing the brainstorm sam goes trt subscription and i was like what what he’s like uh so i’ve been taking testosterone trt is testosterone replacement therapy i’ve been taking testosterone and i think this could be a great business um because you know if you take it it helps you you’re gonna keep taking it on a subscription like you were talking about why the business might be great and we were both like dude that’s a great idea why doesn’t somebody do this and obviously people were already doing it and so you recently were like hey is this company peak that i’m investing in that does that testosterone thing you should talk to them and so i did and i went in with honestly kind of like lukewarm uh expectations i don’t know why like i i don’t know i just didn’t like i didn’t know how big it was going to be i didn’t really know like i i myself i don’t take it because i’m like i had some concerns like is this really good for you or bad for you blah blah blah and then i was totally convinced on the call the guy was the guy sod who you introduced me to is an amazing communicator like this guy was so good at selling me on the business i was like you’re gonna sell everybody your product if you can sell me this well on your business uh he was a really really talented guy yeah he he is talented it’s a it’s a really it i think it’s a pretty safe bet is what i think i think it’s i think it’s a safe bet but i there so basically trt is uh i believe it you know i should know i put it in my body but it’s i believe it’s synthetic testosterone and you can put it in via like you can rub it on your body we should explain the problem right which is that yeah males uh you know as you age in general your testosterone levels go down right so in your 20s you’re the stallion and then by the time you’re in your 40s your testosterone levels are you know i don’t know multiples less than they were in your 20s okay that’s just nature taking you know that’s father time okay but there’s also like other issues which is today a guy in his 20s and 30s has the testosterone levels of like a 70 year old man 50 years ago or something crazy like there’s there’s some stats there’s a lot of reasons to why why that’s the case although uh doctors and scientists they’re like well we don’t exactly really know but it could possibly be that we live like pretty soft lives like there’s not that much fear or like compared to like we don’t have a death threat on a regular basis or a dying of different diseases although maybe that’s different the last two years we um we um drink plastic we or we drink out of plastic what else did they say we we smoke less which a lot of people think nicotine and uh just testosterone levels are are correlated uh and there’s a variety of other reasons but basically the average person’s t level the average per the average boy man they’re the 25 year old is like that of like a 56 year old yadda yadda and what that means is a lot of guys think well testosterone okay so you’re just gonna have big muscles and look good naked that’s kind of actually kind of like a secondary thing the first thing is that you actually become incredibly depressed and like bummed and you just don’t feel like i call it like aggressiveness but it’s not really like i want to fight you aggressiveness it’s like i can i’m like a little bit more confident and i have a purpose anyway um i got tested for this and i had a low t and i tried a lot of different solutions so i tried this company it’s pretty great i i think it’s i think it’s a i think it could be pretty cool i think they’re doing pretty big numbers already we’ll see if they can pull it off i a company like a testosterone business this is one of those companies i think sean you said it one day where you’re like there’s a bunch of different risks here there’s technological risk like can you actually build it there’s market risk like does the market actually want this um in this case those two things aren’t risks the third risk is operational excellence uh are you competent enough to pull this off and that’s the risk that they have and i actually think that’s a that’s a pretty easy risk because that’s a commodity i mean there there’s there if you overpay a handful of uber employees they’re gonna figure out the problem yeah you go find the guy who opened up uber’s like atlanta business and you’re like yeah i need uh you you’re you are an operational person i need you to come here and solve this by the way i think i’ve invested in four companies and like on the founding team of each of them was like i opened up uber in chat i ran uber’s canada business i went there first to open it i became the gm or like there’s an uber competitor uber for flowers right bloom i invested in the guy who like ran that because it’s like these guys have operational excellence they just need to find a good market that uh really wants a product so i think you’re right that the market does want this but there is you know an education step that has to be done product yeah they have almost zero products um but it really is about regulation and operational excellence so do they have regulatory risks and do they have operational excellence because you have to properly handle it right the flow is they don’t just give testosterone to anybody you take a test so you at home finger prick you send the blood to the lab the lab you know it gets reviewed by a doctor and the doctor says yeah your levels are great or your levels are low and if your levels are low we can offer you a prescription if you want and um and then when you get the prescription they need to keep measuring over time to see if your levels are improving or not and that sort of thing and so there’s a big kind of like time lag it’s not just like you know buying a thing off amazon or two days later it’s at your house and there’s no risk in in playing with that toy it’s like no there’s risks this is actual medical it’s a medical it’s a digital medical workflow and those are new so like all of the telehealth um products are like this hymns and rho are probably the most successful versions of these where they took viagra and they said okay how do we market to people who might have erectile dysfunction how do we get them a prescription how do we so how do we pair a person on facebook who sees our ad to a doctor who can prescribe them you know that they had that they had diagnosed them with erectile dysfunction and prescribed them a medicine and how do we create the generic version of viagra how do we take this product and how do we sell it and then how do we do that whole thing profitably right so similar similar mindset those have become multi-billion dollar companies and i think that there’s more to come in that vein i’ve invested in a couple peak being the latest but yeah i think this is great and you like you said the thing i would have been worried about was twofold one uh does this really work and what are the side effects and as he was talking me through it i was like okay well you’re very convincing but obviously you’re somewhat biased right here like the owner of this company uh but he started as a user of the product so so i think it is somewhat organic um but i was like okay that sounds good i’m gonna do some independent research and i’ll figure this out for myself too the second thing was i didn’t like the idea of injecting myself in the butt or i don’t know where do you where you interest yourself the thigh i put it in my thigh and it doesn’t hurt at all i do it two days a week and why don’t you take the gummy or like the cream that seems like like a gummy seems way better than a shot i got used to it and i didn’t want to deviate uh i had a provider that only did the shot and i just was like yeah i’m used to it it also like feels like it’s going to work better i don’t actually know if it does and i asked him this i go i go he said he has all three and i go why would anybody choose the shot he goes actually if you look in popularity our shot is the most popular and the second is this and the third is this and i said is that because it’s more effective and he goes no it’s not more effective in fact the cream is the most effective but uh but people believe there’s a there’s a perception that the shot oh this is i’m doing the real thing i’m getting the full effect of this and i thought that’s funny how that like perception is reality yeah so i like it but i’ve been doing it for a while and um this isn’t like a peak uh commercial we could and so we’ll just be explicit about this shawn and i both have a financial incentive in this company we are both investors of this company but uh it’s sick we’ve been talking about trt for a while i’m a fan and uh i’ve been taking it now for two or three years um it changed my body i didn’t take it from my body but it changed i think they’ll be at 100 million in sales in the next three years that’s my my prediction my bet yeah i believe that the question is who buys it and um i don’t know yet i mean it’s a pretty taboo thing so they got to fight some taboo uh stuff but uh yeah we’ll see i mean because people when they say they’re like oh you’re taking steroids and i joke i’ll be like yeah i take steroids it’s not actually steroids right it’s not an anabolic steroid steroid um but they do they’ve got some they’ve got a little bit of culture uphill battle to fight but i think people are going to be open-minded to this actually far more than i ever thought i know a lot of people who take trt and i was shocked that uh that that many people do i thought i was gonna be the only one especially because joe brogan aka the male oprah does it and vouchers for it i think that goes a big way like that guy has like a pretty massive mainstream following and uh when he normalizes something uh it’s just a matter of time you know first his die-hards will go do it and then the other people get curious and start to check it out and eventually as it gets more popular people will remember that joe vouch for joe does it so you know i think that goes a long way just like oprah had a big effect on a lot of businesses i think a person of joe rogan’s magnitude is actually not just any other influencer do you want to talk about some of these ideas that you have you’ve got some amazing ideas do you want to talk about zed that’s crazy let’s talk about zed okay so we both uh we mentioned zed on the pod before why don’t you explain what it is and then no you do it it’s so it’s this is like perfect for you this is like a you this is like a sean company okay it’s it’s really simple zed is a uh it’s digital horse racing so if you’ve ever been to a horse racing track super fun you know saturday sunday experience you go to a track there’s a bunch of horses you don’t know anything about horse racing that you don’t know anything about the strategy you look at the sheep you know what do you do at a horse racing event you sort of drink and you bet and um and so the betting part is there’s eight horses that are about to run you don’t know anything about any horses you look at the names and they all got funny names like you know um you know mother’s last hope or something like that and then you’re like you know what i think mother’s last hope might win i’m gonna bet 50 bucks on mother’s last hope 90 on uh you know uh sam park ponytail and then the last one you know is like whatever me lucky charms and so you bet on three horses out of the eight the horses run across you’re cheering like crazy you just want your horses to win they maybe they do they maybe they don’t and uh and whatever it’s a good time and so horse racing is almost like the purest form of gambling because you really don’t there’s really no strategy that you don’t need any skill or strategy but you’re safe because really the other people also don’t have any skill or strategy so it’s not like a poker table where if you don’t know what you’re doing you’ll get taken advantage of um horse racing is very simple in that way so what zed did was they brought that online okay well that’s that seems kind of niche the smart thing was they brought it online in the crypto format so the way it works is um it is a crypto project it is an nft project which we talked about before so you go on zed and you can buy a horse so you can uh you can buy a horse or you can breed two horses together and um and so you’ll have a horse and then you can race your horse and then your horse can win for you or he can lose for you it’s sort of like a little tamagotchi pet of yours and um and every horse has like these characteristics so there’s like a probability when you breed your horse or when you buy your horse there’s like a probability it’s gonna be like a small fraction of chance it’s going to be the lebron james of horses it’s so athletic it’s just going to win every race and then there’s a probability it’s going to be average or below average and so there’s a gambling aspect just in the breeding and buying of horses not just the races themselves and so people are going on there they’re cold they’re buying and collecting horses like their pokemon and they race them against each other and they win money and these guys are crushing it so yeah so this what sean just said so the url is zed dot run so z e d dot run well he just described it sounds kind of silly and looks like it is silly i guess like oh i guess gambling is silly but whatever it’s fun and and the artwork is cool and what he just sounds sounds like a small idea but their numbers are a stop are astonishing so go ahead what are the numbers they uh they sell horses like in a in a batch so it’ll be like you know in june they’ll do like a drop of new horses that you can go buy and so they just did a drop a few days two days ago i think three days ago so they did a drop and um it was 18 million in digital horse sales so they sold 18 million dollars of digital horses to 2400 buyers uh the top spender paid about eight hundred thousand dollars and the top hundred spenders spent eight point three million dollars and um and so what’s up what’s happening here under the hood is that there’s a group of people who are investors and they believe in nfts they love to gamble and one one of my friends is those guys uh well joe we’ll just say joe he he spent six figures on it that’s amazing we’re gonna have one of the biggest whales on the pod i forgot to tell you this the uh one of the biggest whales in this whole space in the nft space reached out and he has a crazy story and he’s like i’d love to come tell the story on your pod so so we should have him on he will go in more in depth with him there but my understanding is that there’s these people that were really big into daily fantasy like they played draftkings fan duel and these were the whales there and then you know they were doing daily fantasy for a while and then top shot came out nba top shot and they went heavy into top shot they bought a bunch of top shot things they were buying and selling from each other and i was driving up the prices and um and they had these huge top shot collections and now topshop was worth a lot more money and they did well there and then they said all right great what’s the next top shot and they went to zed run and zed run is the next top shot and so so that’s what they’re doing 18 million where do the proceeds go so i think it goes to zed i don’t think there’s anybody else to go to here so i think zed basically mints the horses and uh and they they buy them so that zed gets the sort of initial sale and then from there um you know if i sell my horse to you i can i get the proceeds of that sale then from from there there’s maybe some transaction fees so i think that’s it i don’t think there’s any other like i don’t think there’s miners and other stuff involved but that could be wrong who puts up the pr and then when you buy your horse and then what’s the likelihood that your horse is going to win a race is is it do they establish you basically when you’re buying a horse you’re buying you that probability that it’s going to win i’m i’m out of my peg right here i don’t know exactly how the horse racing probabilities work you know how does the slot machine work i’m not exactly sure i just know i pull the lever and look for looking for cherries so so it’s crazy so let me tell you i’ll give you some inside baseball here sean talked about told me about this uh 60 days ago maybe uh your friend narendra told us about it told both of us about it yes and you brought up a podcast and this was was this 60 days ago maybe two months ago and you guys described it and i was like this is silly but shawn’s been pretty spot on with some of this stuff narendra has been spot on as well he was early on clubhouse even you know he he he sees [ ] and i contacted the founders of zeb and i got him on the phone and i spent like an hour talking to him and they’re raising money and i was like i’m in they’re gonna let me invest and they took a week and they said no we don’t have either i did it it was a vague either like they don’t have room or they’re not sure if they’re gonna raise um regardless well that’s cool um but it’s pretty nuts the amount of interest that they’ve been getting and the founders were really cool guys and i was devastated i didn’t get you can get in you guys are listening call me um but it’s it’s pretty crazy like how much interest that this company is getting yeah exactly um and so so you know i was i almost bought a ten thousand dollar digital horse over the weekend because uh i wanted to get in before this drop and i just got busy with mother’s day stuff and then didn’t get around to it but i think you know i don’t know if there’s a good investment or bad investment i would my personal opinion is that this is going to have a hype cycle and the price is going to go up it’s going to be like oh my god there’s you know this company’s done 300 300 of digital horse sales and then you know 400 days from now um we’re going to be like remember zed run that was that was a fun four weeks kind of like big clout kind of like big clout kind of like top shot kind of like clubhouse right like this is not uncommon and it’s not really even a knock on them like look they did better than 99 percent of startups that don’t get a hype cycle but um i don’t see how much longevity there is here because it’s the trick is when the primary value is speculation then it’s hard for something to sustain and in here it’s like primary value number one is speculation i’m gonna get this horse i’m gonna sell it for more primary value two is a game and both games and speculation uh you know sort of uh fade over time um with everything except for bitcoin because for bitcoin the speculation is actually what makes it valuable um you know people speculate that the price will go higher the higher the price goes the more it actually is a store of value so the speculation actually creates the product whereas that’s not the case for zit do you ever ask yourself how are we going to build or how you know how individually how do we make stuff on the internet that can actually last 20 30 40 50 years because you think of the things that are in the top uh 50 companies right now most of them i bet that are tech based are launched inside the last 15 how’s google 20 years old um ish yeah year 2000 maybe or 96 so 25 yeah everything’s so new and changes so rapidly do you ever ask yourself how are you going to create something that can last a long time or you not care about i don’t really care about that what i do care about i guess like my view is that you’ve got to go on either end of the spectrum either you try to build something that’s going to be really defensible and valuable and really what what i mean so for me it’s not about something lasting over time it’s this one theory which is um does it have a positive flywheel which means the more people who use it and the longer it’s around does it become more and more valuable there’s some something called the law of increasing returns and so i want to be in a business that’s like that might be hard to get turning explain that what does that mean yeah so like an example of it is as many but let’s say amazon or amazon is the classic example of this so what makes a shopping store valuable a store is valuable if it has large selection low prices and fast delivery so with amazon for every single customer that comes on for every single product that they add to it they’re increasing the variety available to that customer because they have so many customers they can offer the lowest prices and because they have so many customers and so much uh like um built up you know sort of supply chain infrastructure to behind their thing they can offer the fastest delivery and for them every new customer or every new merchant is just like it’s kind of like you used to say with the hustle every email is a win you know we’re a pirate ship and every email subscriber is a little wind in our sales it’s that but basically it makes it better for everybody else the classic example of this is facebook right so every person who joins facebook makes facebook more valuable to all the other people on facebook and so in the beginning when facebook has zero people on it it’s not very valuable to anybody even the first 10 people is not very valuable to anybody but once it gets every additional person the thing gets more defensible over time it gets more valuable to its existing customers which makes it harder for anybody to compete and they don’t have to do a new thing they don’t have to come up with a new idea or a new business line like all they had to do was just get more people using it because the people were the value um and uber same thing every additional driver on the road um makes the the vet the service more valuable to everybody because you get faster pick up times and faster pickup times means more people will take rides more people take rides means more dollars available for drivers which means more drivers on the road which means faster pickup times again right so like that’s the law of increasing returns so so that’s what you really want is what’s called a positive flywheel so i care about that a lot because business is really hard anyways um but when you don’t have that you’re just always working harder and harder to get more whereas with those businesses you work extremely hard at the beginning to get it going but then momentum starts to be on your side and i like that um i and i used to be and i and i have to fight this you and i are or i don’t know if you are but i would i you might be we’re where i like to take shortcuts when i first start stuff or at least i like i’m used to just get going here yeah yeah like let me like because i was always really good i’m like i can blunt i can blunt i can i can force you know brute force this uh people always just say like um well you know if you want to chop down a tree you should spend most of your time sharpening your axe i’m like [ ] that give me a sledgehammer hammer i’m going to start banging and by the time you’re done with your sharpening i’m going to knock it out i’ll be halfway through yeah yeah i’m like just get out the way i’m going to use strength and just and just you know force a will and i’m going to get it done and that that actually is super effective a lot of times but it’s incredibly harmful some of the time because i have taken shortcuts where i’m like man had i done in this this way and just slowed down and done it the right way i would have been i would have paid huge dividends eight months ten months 14 months later right i wish i would have done that and when i hear these stories um i definitely think like is definitely the right way you have to put faith that you are going to be happier two years from now than you are if you do this one way even though it sucks now yeah so the important thing is to recognize the companies that are businesses that don’t have this advantage so let’s take e-commerce e-commerce is actually quite easy to get going um right like you you you don’t even have to have a product you can drop ship or you just start doing you know you can do a thousand dollars of ads and make two thousand dollars of revenue like great you’re in the game it wasn’t that hard to get started you didn’t need a license you didn’t need uh anything to get going maybe some initial inventory that’s kind of like the biggest barrier um but ecommerce doesn’t ever get this law of increasing returns uh i i don’t think so at least or it’s minimal at best which is that you know if you’re at one million dollars in e-commerce sales getting to two million um you know you’re gonna have to do more work you don’t get less work over time so you have to keep manufacturing the product uh whatever you did last year you know doesn’t really behoove you doesn’t really benefit your your growth uh you keep having to spend money on advertising and marketing it doesn’t get cheaper over time it gets more expensive the bigger you try to scale it and so those have you know sort of almost negative negative effects over time at the very minimum it’s neutral and so um so yeah basically i’m just trying to describe kind of like a network effect or a flywheel style business where um how is it that when you um if you draw an arrow between all the different parts of your business i get customers they do x because of x y happens because of y i get more customers that’s what you want the circle has to connect and if the circle connects it doesn’t matter that if it’s hard to get off the ground once you do it it’s gonna like start spinning faster and faster and get more and more valuable over time that’s how you get a long lasting company that’s one way the other way the other thing i think about is the exact opposite what’s something that super just super disposable yeah this arbitrage opportunity may not be around forever but it’s here now and so when i look at opportunities i look at one of i try to go like on one end of the spectrum or the other when i’m being smart and then sometimes i’m not being smart and i go in the middle and i i hate my life after that and i actually think that it’s important to acknowledge that there’s room for that second one which is everyone says like or myself as well i’ll look at something like that and i’ll say oh this is like a get rich quick thing this is just some stupid meaningless arbitrage and the answer is yeah it is right exploit it it exists have we talked about b-roll we haven’t talked about it before okay so b-roll is a website that is not very well known but it’s useful in the e-commerce world so what is this so the one of the most effective forms of advertising is what’s called um ugc user generated content uh why does this work well most people are advertising on platforms like uh facebook or instagram or you know snapchat pinterest places like that and what are you competing with you’re not actually you’re not competing with other advertisers you’re competing against the feed you’re competing against the scroll if somebody’s gonna scroll right by your ad to the next piece of like entertaining content right because you’re it’s you’re here trying to sell a product and the next person is trying to make the person laugh or click the like button and then keep scrolling so you know you’re competing against a meme you’re competing against an influencer you’re completing against like you know some model in her bikini on instagram so how is your ad going to compete in that that environment well turns out the best way to compete is actually not not to stand out but to blend in to look like instagram content well how do you do that so what people started doing was they were paying started paying influencers how do i get the kardashians you know it’s like that brand sugar bear hair they went and they paid the kardashians you know silly money to post a picture with themselves with the little blue gummy bear in their teeth in their mouth basically they’re holding it they’re like biting down on it and they took a picture doing that while holding the bottle of sugar bear hair right and so they go and you pay a lot of money for influencers to do things and influencers are kind of hard to deal with they’re divas they have managers and um you know and this is uh b-roll dot io d-e-b-e-e-r-o-l-l dot io b-roll dot io and so what does b-roll do all right b-roll basically says hey let’s give we will get you content that looks like a person on instagram just using your product it looks like someone just posting a review uh you know a video review where they say you know i bought this hat uh found this hat i really love it here’s why uh you know i have this problem with the sun getting in my eyes so this hat is amazing for xyz reasons or they’ll be like you guys i just got my package from blah blah in the mail i’m so excited to open it i’ve been waiting for weeks for this thing and it’s like what is this uh who is this like you know who’s this person what have they been waiting weeks for and then they open it up and they’re like great here’s this eye wrinkle cream and you know it’s gonna be so good i’m gonna try it on blah blah then make this video out of it and so b-roll is basically a way to push a button and get a bunch of average looking people to create the content that fits your story that you want so you almost write a little script a little storyboard where you say first say that you got the package in the mail and you’re so excited second open it up while you’re in your bathroom and show your face in the mirror before third put the cream on then fourth uh you know do your makeup do your hair put improve the lighting and then show how much better you look now that you put our cream on and then say guys you gotta try it i want you you guys gotta if you guys follow me you guys gotta try this so how did how do they make money they take a cut so what they’ve done is they went and got all the like wannabe influencers of the world micro influencers this is like you some mom in florida who wants to make 40 50 bucks for uh for making a video while she’s at home like while her kid naps or it’s like you know some girl in college who’s in her dorm room and wants to make you know 100 this month to pay for whatever you know a manicure at a pedicure and what they get is they get your product for free and then maybe they get a little bit of cash and in return what you get is content for your ads that looks like real human beings making content because it is real human beings making content for you is it a big business it’s a good business i don’t know it’s not a big business yet but i think this could be a big mistake it’s sort of criminally under-marketed right me explaining this is probably the best marketing they’ve had right and ironically this is actually like a b-roll right like if they i know if they’re gonna use this did you see uh there’s an app called parcast i think something like that uh no it’s not cool i forget what it is oh pinata and they’re using your your voice and me like commenting as an ad i got i got i kind of got angry at them so uh what’s what’s this company’s called beehive i talked to the guy who who owns it i actually would like to buy a business like this i think this is a really good this is a business that can make i don’t know it can make a lot of money so here’s what i relate this to there’s um there’s a business called user testing which we’ve talked about on here i like user testing user testing did the same thing they activated the stay-at-home mom workforce which is there’s a whole bunch of people that are staying at home they want a little bit of side income they don’t want to have like specific skills like you know some coding or designing or something like that and they just want to make a little bit of money they’ll they’re willing to basically trade half an hour or an hour of their time for 10 15 bucks and uh they have flexibility they do it when they want and they don’t do it when they don’t want it and so what user testing is is they basically matched up that mommy at home workforce with companies that wanted feedback on their website so go to my website try to do x y and z and record yourself while you do it and if you get confused i want to see that so i can go improve my design and user testing has become a very large company hundreds of millions in revenue and we’ll go publix you know probably in the next 12 to 24 months is my guess and so user testing became a large company multi-billion dollar company doing that i think this activates the stay-at-home work workforce in a different way which is to say hey do a review or a testimony of my product that i can put on my website or in my marketing right um what what why wait for why pay i overpay for influencers or wait for customers to like take the time to do this i’ll pay you i’ll give you some free product i’ll pay you a little chump change to create a testimonial or a review or create whatever you know a little little short video clip because that’s the what i need to be advertising on tick tock or anywhere else great can i explain to you what i would do if i wanted to make money off this yeah i used to have like a little like ecom things and i would go to i hate admitting this because frankly i don’t think it was a good idea but i would go to fiverr.com and i would write a script and i would pay someone five to a hundred dollars to record them as a testimonial really it wasn’t even that good because they make it look too professional yeah yeah it was a testimonial nonetheless now i have no idea if this is what what’s it called b-roll i have no idea if this is what they did but basically what they’re doing is they’re just taking a very specific niche of fiverr fiverr.com is like probably the leader in this space it’s a publicly traded company it’s um the whole shtick was five dollar things that you could do now uh like you can draw a logo or make a video a 30 second video and people would game it i use fiverr.com to get ten thousand twitter followers and automatically looks like ten thousand twitter followers would make me look legit yada yada people use it for scams what i would do is i’m looking at fiverr’s annual report and they’ll actually tell you more likely than not what some of the fastest growing categories are and what the fastest and most popular services are or you could just go straight to fiverr.com and do like ranked by popularity and i would just rinse and repeat and i would look at what be role did and i would look at which category is the most popular and i would create a website just for that and i think you could probably build a pretty good business doing that we should we should do that we should go into we should do a dive into fiverr’s um you know like public reports and let’s see what we find because fiverr is a pretty interesting business we could do fiverr and uh maybe like upwork or whoever i’m gonna show you oh you can’t see my screen huh like you could do you could do like like all right i’m just on fiverr.com like fiverr but only focusing on voiceovers so it’s like for for five hundred dollars we’ll read whatever you want for a 60-second thing and i sound like this voiceover i sound like a movie guy or you can get this other person uh who sounds like a commercial lady from a credit card commercial yada yada yada yada yeah or you could do you can do like i’m gonna send you a screenshot of the uh of the like the storyboard that i submitted um to to use this thing and uh i mean it’s the design looks like a little bit crazy but uh but it is pretty cool you’ll see like how this works and i think i think it makes it very real in your mind like um how how powerful this would be it’s like uh so for example if you’re an e-commerce store right now or an e-commerce owner oh there’s a lot of these right shopify has exploded in popularity and you you book a photo you book a professional photographer you go to a studio and you you go look at all your favorite brands lululemon nike gap whoever right and you say we want to make commercials like them we want to have our photos like them that’s the way this should work we want beautiful clean you know like perfect lighting cute models wearing our stuff smiling and holding hands and you go put that on facebook and then next to it you take out your iphone and you record your face and you’re basically set you basically are holding up your product in shitty lighting in your bathroom and you go guys i just got this you know whatever lip gloss and um i don’t know why i picked lip gloss like i i wouldn’t even know the first thing about what to say sorry let’s pick a different one guys just got this hair product for my men’s long hair that i have um i don’t know about you guys but i wake up in the morning it looks like this and then what i do is i just squeeze this on put this in my hair and bam i look fantastic and um you know whatever even less salesy than that it’s just like guys it looks so good except for this little part here but i gotta work on that anyways you guys get the idea that ad will kick ass compared to the studio photographer official um high quality um uh you know professionally done have you even seen that the commercials on tv people are doing this now too yeah because they saw because before you do it measure tv well enough right tv was hard to measure you couldn’t figure out what works and what doesn’t now you throw both ads on facebook you throw a thousand ads on facebook and you’ll see this one gets the most clicks this one gets the longest views this one results in highest number purchases so then they probably did that spent 100 million dollars on facebook and said this is the best way to communicate our product to our customers now hey tv guy roll this instead and then they’re like are you sure this looks like [ ] it’s like no no trust me this works and so this lifestyle type of content or user generated style of content works so well so then the question is you’re basically feeding into facebook’s ad engine so this looks like a small business right it even sounds like a small business b-roll who you know like b-e-e like a little bumble bee the website looks like [ ] um you know how much revenue do you think they make i think they’re probably doing a couple million one or two million a year as my guess and uh i think that this could easily be you know nine-figure business why because you’re taking a subset of the facebook ad engine right facebook people are spending billions and billions of dollars on facebook advertising if you have a way for them to create more ad creative that converts better at scale without hiring their own people and doing this stuff in-house people are going to take you up on that bargain but you’d have to like you know basically market yourself as well you’d have to go and figure out how to get them all to use you you know what would be kind of cool i’m just thinking about this is we talk about so many things that i would love to do i’m like oh this just seems exciting and a lot of people think that way we should do an episode one day or make a list of where we list out the type of headaches uh that each business comes with so i think the issue is that we make things sound easy and in some regard they are they’re really simple but they have issues that everything has issues so like with media the issues is you have to deal with people personnel um because it’s a your people make your stuff with e-comm you have to deal with uh like the shipping and logistics uh you have to what do you have to deal with cash flow issues um whatever which is the whole supply chain yeah supply chain stuff with b2b software you have to deal with enterprise sales yeah enterprise sales and you also have to deal with like it can feel like it is a little slow sometimes like it could be a slog um like there’s issues for everything i would love to hear like what the headaches are for this and some of the other stuff that we talk about so like what are the issues with this um probably maybe people uh because you’re dealing with something it’s quality control so the biggest issue is i’m an advertiser you did all the hard work to convince me to start to try using b-roll to get some videos made i put up my brief well i kind of wrote it in kind of a shitty way because i don’t know how to do this right i wrote my script my script kind of sucks it was unclear it was open-ended blah blah blah that goes to some again some some person in tennessee who’s just doing this for fun on the weekends to make a little side cache they half read the thing they record the thing but there’s like background noise you know behind them to the point where you can’t hear what they’re saying or they didn’t follow the prompt the client really said start the video holding up our product and uh the person just didn’t do that and um now the video’s in the client expects to get the video they wanted the the video creator expects to um get paid and nobody’s happy the client didn’t like the video and the creator said i did the work what’s up and you’re in the middle and you’re now having to figure out how am i gonna ensure quality so that my advertisers don’t get fed up and leave um throughout this process this is the problem for user testing as well user testing has a whole fleet of humans and robotics to make sure that the tests that get submitted are gonna make the client happy and the client’s not gonna say hey i wanna refund this this person didn’t even follow our directions or you know they they didn’t speak they just they just clicked they didn’t even give their thoughts out loud right so like we can’t i don’t want to pay 15 bucks for this test i didn’t get what i wanted and you still owe the guy 15 bucks because they did the work and if you if you don’t pay either one they’re gonna leave the platform if you don’t give you the one what they want they leave the platform now you have a churn problem so quality assurance is the number one issue with a marketplace like this in addition to the normal headaches of going and getting people to you know join your platform of yeah i i just want like uh i want like a glass door for different business ideas like what what where’s the downside because everything has it just tell me what the downside is what i got to deal with um do you want to do one more or no yeah let’s do one more uh because i feel like i was long-winded and not that interesting today so i’m gonna try to make up for it all right uh let’s do one um okay this is cool poly market have you seen poly market no tell me all right i’m gonna i’m gonna screenshot what um what i do on this thing so poly market is a betting network it’s a place to bet on the future so you can bet on anything so so if you go back on your beliefs is the uh the name is it’s called or the phrase is bet on your beliefs the the trademark so it’s similar to any betting platform like oh i can go bet will the lakers win tonight are they going to lose right but you bet on different type of stuff so here’s the top bets right now uh number one will dogecoin reach one dollar at any point before june 15 2021 will andrew yang win the democratic primary of new york city in 2021 and so let’s take that andrew yang one by the way really quick along the way so i bought uh i bought a million doge at three cents and uh so that would be you know i would have made i don’t know like half a million to a million dollars or something like that if i just held the whole thing but i sold at eight i sold that 15 i sold at 30 i sold that so now i still have a slug of it left uh and i’m just letting that ride at uh it’s at like 50 cents now or something yeah only tweet the good stuff sorry go ahead yeah okay so so um so anyways this so so you could bet on something so like there was there was a bet or there’s a bet right now will new york city be fully reopened by july 1. and then there’s a price on yeah it’s all simple yes and no so if you just look at this site it’ll show you that 60 grand has been bet on this bet and most people are betting no so out of 100 of people who bet 73 said no and 27 said yes and so when you go bet you get better odds like if i’m betting the yes side and only 27 people have said yes i get paid more if that ends up being correct if i’m if you take one of these other bets like oh you know we’ll both like this one i bet this one which is will floyd mayweather beat logan paul in their boxing upcoming boxing match to me this is like a hundred percent probability that if the fight happens floyd mayweather is going to beat logan paul yeah but on here uh you know it’s 94 you get 94 cents basically it’s 94 think yes and there’s six percent if you bet the other side if you bet logan paul’s gonna win and so to me that’s free money that’s gonna happen in one month right and so i can make like a six percent return on my money this month just by putting it into that bet well no uh so i put in 10 grand and if he wins i make uh 10 161 no that’s only a 1.6 well so the problem is so that’s the thing it’s uh there’s slippage if you bet uh more so there’s only been six thousand dollars bet into this bet so if you bet ten grand you would have moved the market right so put in a hundred dollars and you can see what your what your return is um and so for the bigger the more popular bets you can bet 10 grand and it’s not going to move the market right the andrew yang one has 260 grand in so your 10k is not really going to move the prices that much that’s interesting sorry i’m gonna bet on this floyd one by the way floyd’s gonna just it won’t get me close of course it’s not even is that even a question to me anyway so there’s a bunch of these things that are like this but i think this is really cool it’s a really cool product it’s a it’s a predict people have been talking about these prediction markets and crypto for a while and this is a crypto based thing so that the problem is created this um but just like i don’t know some group some team of people in the crypto world and so what they say is if you see at the bottom there’s a disclaimer poly market is only for informational educational purposes we do not custody your money we do not take profits we don’t host these bets themselves so what they say is there’s a betting protocol bets get made on there and this is just a website displaying the bets and letting you like bet into those markets or bed into those bed into the protocol or not and so these bets are all made on the ethereum blockchain so you um like the whole bet is made there and then they have a system for validation how do like who’s gonna say if floyd mayweather beats uh logan paul well there’s like details in there of how they’re going to decide and then there’s what’s called trusted like there’s trusted oracles or whatever yeah yeah yeah there’s a group there’s a decentralized group of people who will all submit their answer what happened yes or no and once there’s a consensus like if there is consensus then the bet finishes it closes and if there wasn’t consensus like you know uh whatever is new york city fully reopened by july 1 that’s something to me where i’m curious i don’t know how they’re going to resolve that like fully open it says it needs bars restaurants blah blah blah blah but like what if there’s some gray area i don’t know how they resolve these bets in that case but i find it really fun to like i think if you look in this podcast by now you know i’m kind of a gambler i find this to be a fun uh way to gamble on things that you know you’re betting are gonna happen and so i put 5k into this thing and i started betting on different bets and i’m having a blast and so i’m going to keep doing i i i think this is going to be quite large um like i want to bet for the saturday saturday night live thing it said will elon musk mention dogecoin on saturday night live and uh yes was paying out at like 94 cents but i was like i’m pretty sure he’s going to do it and so i bet yes and so i made i bet 250 bucks and i made 330 or something like that so i made like a profit of uh i don’t know i forgot it was like 80 bucks or something like that on the bet dude this is badass um so how did you find this uh people learned crypto talk about this thing i’ve i’ve heard the name before i’ve been to it before but this was the first time i actually started betting on it like you on twitter they talk about it yeah i don’t even know man i’m just like knee-deep in the crypto world i don’t even know when i hear about things maybe it’s twitter maybe it’s a friend i have no idea oh they just raised money yeah they’ve raised money they’re they’re kind of well they’re like a well-considered brand i think um which is kind of weird because this thing like if you go to the website how it works and stuff is like pretty skimpy they don’t really do like for a for a financial betting website you would expect them to have like way more like legalese and fine prints and everything and they really don’t it’s very like very bare bones uh but but yeah it’s pretty cool it’s like a las vegas betting system built on top of yeah this is direct ethereum right so if you wonder what’s the value of something like ethereum is it just speculation like no people are building essentially casinos on top of ethereum right uh outside of the financial system it’s pretty cool do you want to do for the next episode do you want to do the first segment on a how-to we can do because i i think i’ve got good research methods and i could explain mine but would you be interested in explaining do you have a particular way that you find because i mean i get anything that i a lot of stuff that i’ve invested in or that i invest time or just like curiosity into i learn from you do you want to share how you do that or is that not even a shareable thing well i have an idea of something i could share when you started talking but uh my brain started to think about that which is how to win inside a big company as an entrepreneur how to like make a mark inside a big company so i’ve done a couple things since joining twitch that i think allowed me to i just like didn’t do the rat race and instead i made i did i just put a little effort into these like four or five other things that nobody else in the company does and because of that i got like an outsized reward i basically um [Music] like i made a name for myself in a good way you know by doing x y and z and so like if you’re somebody who’s in a big and you’re like well i’m just i’m just at this point i’m just another fish in the sea or you know i want to get promoted but i’m like i have to climb this ladder the way it’s currently constructed my answer is no you don’t uh there is a way to be like interesting inside a big company and do a few interesting things that will let you leave a larger footprint than just your job if you do it the way everybody else who has your same job title in your company will let you do and so i’d like to share some of those things the how-to how i made my mark inside a big company i’d like to share that you know for others to do in their company so uh how to i don’t know we’re gonna call it how to succeed in a huge company as an entrepreneur how to um what i wanna do is like how how the how we do research and then maybe a third one that i want to learn from you is how do you manage this small team of people and because you have like a personal crew and like what do you pay them and what the cost and what’s the roi and things like that that is something that i would love to learn from you yeah i’m down to do that one as well um and so yeah some people have asked me about that so yeah we can we can do that one i think more people want to know so i people want to know that one and there’s a lot of people who listen to this that have a job and um they’re not like ready to go quit their job and start a company they don’t want to tweet out you want to tweet out those three ideas and or i i can do it and we’ll see what the people say yeah let’s do it i think we should do all three just in one order we’ll do we’ll we’ll do one each time it’s okay uh june 3rd did i say i think i said june 3rd to you we’re doing sean and i are doing a meetup uh well i guess it’s trends and the hustle and shaun and i whoever’s doing it we’re gonna be there we’re gonna host an interview uh i think with like we could do our thing in front of everyone and then also noah kagan will be there do you know noah i never met him in person just on the pod so he’ll be there we’re going to do it at his office so he’s been kind enough to let us have his office uh so you can go to mfn mike my first million m f m pod dot com and enter your email and you’ll get notified when that’s being released like the uh we’re going to talk about your town yeah when we come to you like you’re working with austin yeah we’re going to start with austin that’s on june 3rd it’s uh it’s likely i’m almost positive it’s completely free and we’ll have room for small 50 people and then we haven’t settled on this yet but not the day after but likely the day after we might go to miami um we haven’t we got to lock that in if you have an office that could host 100 let’s lock it in what are we waiting for let’s lock it in it’s done we haven’t we haven’t found the venue but the decision is done yeah like i’ll i’ll i’ll plan to go but we don’t have a place to be so we’ll figure it out if you want to host us and basically if you want to provide light drinks and light food and you want to have 50 to 100 people tell us it’s gonna be in the evening it’s gonna be like a seven o’clock thing maybe 500 people mayor suarez if you are listening to hey we’ve traded a couple dms hey you know i’ve been seeing you talking to my friends let’s do this i think we could get 100 or 500 people i just don’t know if i personally would want to would you want to like riff in front of 500 people oh yeah if i’m gonna do 100 why not 500 it doesn’t make any difference to me well i don’t even want to do 100 but let alone 500. uh but yeah whatever i’ll go with the flow but we need a place so if you want to host us you can and i’ve got a couple other updates so we’re going to talk we got sean actually did most of the research for this one we got a ton of cool ideas but do you want an update on some podcast stuff so you might be working with our team okay so uh in 3-1 so what was that march march we did 338 000 downloads in april we did 436 000 downloads so uh that’s a 30 game about in may it’s tracking towards around 520 000 which is another 20 20 increase i think we can keep going and i want to tell you what i think is is causing all this the first is the biology episode so guests typically we have found don’t work that well but a really big name guest or someone that has a cult following like a tie or biology um that works who’s ty lopez oh tai lopez okay gotcha uh when we did that one because he’s like cult following and a cult unfollowing he’s got both yeah so that that worked so the biology’s episode is probably gonna be the most listened one ever um so that worked out how much more is it than the usual is like 20 more 50 more than a typical episode it got to 30 like in the first week typically our episodes get to 30 000 over like two months gotcha okay so it it did that in like a week or whenever it was when did it get released a week days five days wednesday i talked to him on the phone and he said yeah a good episode i shared it so hopefully that helps and then uh he’s down to share more but we only tweeted out i think one clip from it so he’s down to share more clips and he liked the animation he was like oh like looks like production value’s going up i was like sweet yes it is yeah uh so that worked out well and then do you want to announce what’s working really well is how to’s so any time a title is called how to build a paid community how to build paid events how to whatever we’ve done those rank the highest no matter what or not no matter what but more often than not so like in our top 10 most downloaded stuff it’s either an interview with a huge a well-known person um which like an andrew would be a well-known person or a how-to blank so we have to do some more almost they don’t care about us and our great ideas they care about themselves learning something and being able to do something they want to do i think that’s exactly what it is and then it’s ourselves peppered in there we are the spice but the meat is the how-to right and then finally i got a last update um we’re running some ads on do you know this thing called the billionaire investors podcast what’s it called it’s like a famous thing is it we study billionaires is it that one yeah i love that podcast if you’re looking to do it yeah so we’re running an ad on their net on their network on that podcast i think uh we bought it last week i think it’s gonna go live this week then so there’s two types of podcast advertising that i’m learning about the one is what we do is people advertise now hubspot advertises on our podcast and people go to hubspot.com mfm the other one is podcast platform so like overcast have you heard of overcast yeah like these clients these apps you can use to listen to podcasts yes and on those clients those uh users click subscribe and the strategy that i’m doing is what we’re doing is we are going towards niche ones because those niche ones typically have a far loyal following and you could get low cost per click to download and subscribe and it makes sense because those people if you are you got to be a real podcast junkie to go get like a new podcast app because it has these extra five features about podcasts so it’s actually a really good audience that’s probably really cheap because nobody else really goes for them so i i like the strategy a lot and they’re like they’re techie they’re like tech they’re early doctors yeah and so we’re running ads currently on cast box i’ve never even heard of them but it looks cool and then overcast and so those are some of the updates uh it’s going well okay what about the so the ad on the we study billionaires podcast what is it because i’m always if i’m listening to a podcast what’s actually going to make me go subscribe one is a guy comes on or a girl comes on and they’re a guest like this happened with elaine elaine came on our podcast she did ideas and she said it was like i don’t know one of her biggest uh her newsletter got like a huge spike in subscribers like her next email send was welcome all my new subscribers this is amazing and she said she got you know thousands of new subscribers from her appearance on the pod which is great and so that one makes sense because if i go and guest on somebody’s podcast you listen to it for 45 minutes or an hour because that’s your favorite podcast or that’s what you listen to regularly and you might be like oh that guess was cool they said they have a pod i’ll go check it out i like that method and i’m i’ve said it i got to do this i still have to go do it which is i want to go guest on as many podcasts as i can that would be part my contribution to this growth strategy but this ad is a little bit different it’s just like a 30 second sound clip what are we saying in that 30 second sound clip that’s going to make somebody want to subscribe unfortunately it’s not a clip i think it’s going to be stig the main guy reading but frankly i don’t know we just closed the deal on friday okay fair enough uh so i have to figure it out but we have our guys so we we got this team uh henry and dylan they’re making like a height like a sizzle reel right um and we might be able to use that but i don’t know but i agree with you like in theory i agree with you i just don’t know what’s what’s available at the moment and we’re doing some other stuff to make it easier to follow so i’m emailing i’ve grown my email list and this year from zero to twenty six thousand subscribers now and at twenty six thousand i just sent it out the first time last week so just uh it’s uh just seanpuri.com so if you go subscribe there you get all my emails but one of the weekly emails i send now is a podcast recap so if you don’t have time or you listen to the pod while you’re on the go i basically take the best three bits from that lat from the last uh the last week of episodes and i say this was the best idea this was kind of the second most interesting idea here was the third one and so sent that out for the first time and i think that will also make it easier for people to like follow along and if you were kind of on the fence or you were you’re in and out you listen sometimes you don’t listen other times i think that’ll keep you on the hook because and then i copied your email from sean and i sent it to like 30 000 hustle people who clicked on a my first million link in the past like two weeks and we’re actually gonna increase that so it’s like 100 000 people and my takeaway so far is it actually might be good for the user but shitty for our numbers because you just get the information without having to listen which kind of sucks that that like has to be the case yeah i thought about that but i don’t think that’s actually how the world works i think if you keep giving people value in every form that they want it short form text long form clips on twitter clips on youtube video on youtube podcast audio if you just keep giving people value they will learn that oh and whenever i want ideas whenever i want to feel that my wheels turning if i want to get that juice that energy um shawn and sam are the place to go to get it and our best raw the raw source the real deal [ ] is in the podcast and so i think over time those clips they just bring people who are on the fringes closer to the core i hope that’s the case and i’m betting that’s the case i’m putting my money on that but yeah yeah but it’s a fear i and and i want to bring this back to one thing which is a lot of times we talk about this inside stuff and hopefully it’s not like a circle jerk like oh we’re awesome uh i’m revealing this because a lot of people people like this i like it when i hear other people say the numbers but also i want to point that i think we’re doing really good but i actually don’t think that we are good i think persistence is good and the reason why this is working is because persistence works quite well so we’re actually on we’re close to episode 200. we’ve been doing this for uh is it going to be two years two years two years maybe in september or august july something like that july and i would say that we miss i i get sick sometimes i miss stuff sean will miss stuff because he had a baby but we’re pretty much always on and at worst we’re mostly at least good uh like we’re like it’s typically always at least okay sometimes it sucks sometimes it’s really good mostly it’s okay and like sorry mostly it’s good i would say but that consistency is actually really important and we’re going to appsumo um and i guess now in three weeks and there’s a great story that noah told me or and basically no kagan runs this company called appsumo um it’s a it’s a weekly email where you get deals on software this year they’re going to do 100 million in gross revenue of which like 50 50 million is their revenue it’s a great business it’s 10 years old and he was like you know i realized something that this business that we’re running it’s done really well but it didn’t do well at first but everyone wants to know like why is this doing so well and he goes i really just put in 40 hours a week but i just did it for 10 years and it has finally started to pay off and turn out and done really well and it’s just like it’s just a job and i just but i do it all the time and i treat it like a job and that has paid dividends and i think that more people who listen to us could kick ass a lot harder if they treated their side hustle like a job yeah i i would uh i agree with you persistence is great the one thing um that this reminds me of is i got some advice from the ceo of twitch emmett and um we so so when i got acquired uh when our team got acquired our company got acquired we were put on a special project inside twitch and it was kind of like one of the like uh most people at twitch are working on something that already exists hey this you know people already use us we’re already the category leader you’ve got to make it better make it more profitable make it smoother make it whatever it’s more like maintaining and improving an existing winner and we were put on this little we’re on the edge of the island and we’re the only team in the company basically or one or one of three teams that was working on something that where we weren’t the winner wasn’t proven and so we uh it was considered like a kind of a top priority so we did this thing uh every week the top my team would present to the ceo the ceo and the chief product officer we had an hour with them every week and in a big company you don’t really get an hour with those three people every week that’s like a very expensive meeting as they say and um because it was important and i used to go in and i would try to basically every i feel like every two weeks i was pulling a a rabbit out of my hat trying to be like and here’s the new genius tactic that we’re gonna do and this one is gonna be the one that works and like some of them did make an impact but emmett had this observation where he was like you know i feel like you um have a lot of good ideas and then every month we’re we’re like sort of like on a weekly or monthly basis when we sit here it’s always like yeah it’s good but it’s not as good as we want it to be we’re still like we’re so small we want to be so huge um and he’s like you’re impatient with the results and so i so i change one thing at the top of every um every update that you have to bring in a memo at the top of every memo um i was the only person in the company that was doing this everybody else their memo goes straight into like here’s the weekly update here’s how it’s going here’s what here’s what we’re doing next at the top i wrote in bold impatience with action patience with i said that’s our team motto i’m putting it up here mostly for myself to remember impatience with action that’s what impatience is good is when it’s you’re being impatient by taking action but impatience is bad when you’re impatient about results so i’m putting at the top of this [ __ ] paper every week so we’re all going to see it so that was cool then the second the second lesson came like six months later nine months later when he was like by the way you guys notice like we got the results like it’s actually coming to fruition now and if we look back we can’t say which one thing we did was the big growth mover and he goes because there’s this uh phrase that i think andreessen horowitz uses which is or they made it more popular i guess i don’t know if they invented it but ben horowitz has it in his book which is there’s no silver bullet there’s only lead bullets and this is about this is basically what that means is there’s no silver bullet strategy there’s no one thing you’re gonna go do that’s just gonna magically like make everything okay make everything work um the only growth strategy that truly works over time is a many lead bullet strategy which means you fire you do a bunch of things and you keep firing keep firing keep firing until the you know the thing falls over and finally finally you break through and so i would say this is a good and so that became the second motto which is remember only lead bullets and so that that was those were the top of every weekly update was those two that’s pretty good to catch myself because i’m good but my what’s my leak my leak was impatience my leak was looking for the genius tactics when all it took was lead bullets and patience and uh and so you know if you take away one thing you know us talking about our growth numbers i think some people will like it because they like hearing the actual numbers it’s great when somebody’s like transparent about things cool we’re at over half a million downloads this month like monthly now and we’re trying to get to a million some people will be like why do they talk about their podcast number so much but i hope the takeaway is forget about how our podcast is growing that’s probably irrelevant to you but you probably have a project you’re trying to grow and hearing how sam thinks and talks about how he’s growing this podcast is gonna be beneficial for how you do it okay how to grow a thing uh yeah back to our how to’s i think that um and we’ll move on but the last the phrase that i’ve been thinking about a lot lately is people overestimate what they can accomplish in a year but they underestimate what they can accomplish in 10 years and decades right absolutely and and that’s kind of an example here like we’ve been frustrated on some month-to-month basis or a week-to-week basis but like it’s kind of cool seeing these numbers uh like really start pale i feel like i can rule the world i know i could be what i want to i put my all in it like no days off on the road let’s travel never looking back