Episode of My First Million with Sam Parr and Shaan Puri.
Transcript
Note: This transcript was auto-generated from YouTube captions. It may contain errors and lacks speaker identification. A full Gemini audio transcript will replace this.
Kind: captions Language: en [Music] i think richard branson is not a wonderful person so before the before the podcast there’s this video of him what year is that video 99 or something is it in the world yeah it’s in it’s in um it’s on youtube and if you google richard branson selma hayak it’s richard branson is on the conan o’brien show selma hayek obviously like one of those beautiful awesome women on earth richard branson comes on sits selma on his lap and like is clearly flirting i think he’s like kissing her neck like it’s [ ] embarrassing it’s what it is and i whenever i saw that video i was like oh i don’t look up to you anymore that that that was pretty bad you watched that video yeah i did you sent it i watched part of it it was kind of uncomfortable so i just stopped watching it because he kind of like like are they friends are they cool like you know dude even if you are cool that’s weird to me that behavior is weird to me and then i’m like was this cool in 1998 did people do this type of thing in 1990 no man i really remember even the crowd it was like it’s it’s uncomfortable and it’s on live tv and she’s trying to like be polite and not make a big deal out of it yeah you could tell she’s not like down with that and i read his book i read his book and like so i’m not on board with him anymore actually so that’s what that’s i’ll leave it at that is that a fair assessment no hold on hold on what what did you read in his book or is that irrelevant to what yours oh he was just cheating on his wives and and he just seemed like a guy who um it’s okay that he has his lifestyle but i could see how that could put a lot of people uncomfortable and easily cross lines even if his intentions aren’t to cross a line you know what i mean like he was like a hippie a little bit you know what i’m saying so this is truly the play i hate this ball because you’re hating the player here right like yeah this guy you know like richard branson first of all the guy looks like he’s always having a great time you ever watch this guy on necker island you go see these dudes videos i think that’s part of the shtick yeah there’s definitely like once the jeffrey epstein stuff came out you’re like oh wait what are these really rich people doing on these islands like what’s going on over here do i need to like you know like make a note you know tell my daughter like never ever go with a billionaire to an island like you know what i think that’s a safe rule i think that’s a safe rule right that’s a good rule i’m down with that i’m gonna write that one down yeah put that on the refrigerator i’m okay with that one yeah so i i don’t know like i don’t know what he what wrong doing he’s been accused of he’s pretty inspiring as it goes and that’s what i’m saying i don’t know if there’s any accusations i’ve got zero proof of anything i’m saying other than just one video and just a vibe it’s just a vibe it’s just an energy yeah you’re coming in strong with a pretty wild uh wild portrayal of no but no i’m saying it’s all energy i’m saying that there’s zero proof other than this one video that i saw that’s it that’s all i’m saying um okay and the second one so there’s this guy named naveen jane do you know who this guy is he’s always on like the cover of ink and he’s always on like these tony robbins things and he’s incredibly charismatic he’s got a good smile let me tell you about this guy so do you know anything about him i know a lot about him but i want you i want you i want you to say the story because i don’t think most people know anything about him all right so even to this day he’s considered a billionaire and he’s like i said he’s on the cover of all these magazines as this like wonderful entrepreneur so i’m going to give like a high level summary of his background so started at microsoft in 89 probably got wealthy from that uh in the early or mid to late 90s he started a company called infospace uh infospace went public and he eventually was worth like eight billion dollars what infospace dud did was it’s kind of hard to explain because it’s so old and we don’t even use that anymore but like they like help to make like directories and um maps that you would put on your website so like just stuff that isn’t even relevant anymore but it was just like a dot com uh business and the stock went public and crushed it was at 138 and then it completely crashed and in march of 2000 it was now worth a dollar 56. and infospace they use a ton of controversial uh accounting methodologies and so they said that they made 46 million dollars in profit but they got sued or and people got angry at them and because in reality they actually lost almost uh 300 million dollars and a ton of their employees filed suit along with a lot of their shareholders filed suit because they uh promised employees like different stock options and it just went to [ ] and it was kind of built on like a bunch of lies and a little bit of vaporware so that happens in 2003 he this guy jane is uh ordered to pay 250 million dollars for violations i don’t know what uh sure i don’t know if you i don’t know if you said this but basically the the stockholders so the employees the stockholders they all lost their money but he ended up making out rich off of infospace you said that part or no no but yeah that was like the biggest part uh so like he sold a lot of his stock and he made a huge sum of money a lot of the other people did not then after that he starts this other company have you heard of this other company called uh how do you pronounce it intellis intellius the best way to describe it and i think a lot of people know what this is but whenever you get like a scam phone number to your phone and you google it and you search on google and it says like which number came up and you type it in and it’s like well and you get all these ads like for the background check of this person just entering their information and you inevitably enter in your mom and dad’s information to see like oh have my parents ever been arrested let’s find out and it says like well we found donna parr in missouri you could for only 18 you can get her criminal history report and you’re tricked into buying a 19 a month subscription and i actually posted in a picture if you look at the picture on the doc of the actual scam but basically this company grew to be really big hundreds of millions in revenue and then it came out that they were getting sued constantly because consumers were like i didn’t know that i was signing up for this and i’ve been getting billed twenty dollars a month twenty dollars yeah twenty dollar subscription i’m getting billed for because the font in like size two underneath the this check box said like by the way this is gonna charge you money every month yes and the actual landing page that i sent to you it’s a screenshot and it says something like get ten dollars for giving us information about yourself but then also underneath that in a really small writing it says and after that we charge you 19 a month like for this and that and so it’s pretty scammy now here the reason one of the reasons why he’s on the cover of all these magazines is he’s starting a company that helps uh mine minerals on different planets that sounds cool and everything but the fact that like he has had this history of of shadiness i think i’m not on board with that yeah so just to kind of like recap here i think the uh the story is he um he was found guilty of insider trading he then tried to sue his law firm saying you didn’t provide me adequate legal coverage blah blah blah and then he ended up getting hit with a 247 million dollar uh i don’t know if you’ve got 24 247 million dollars or he made 240 no he had to settle he had to pay he had to pay a hundred million dollars i think um i’m not i’m not 100 sure on that i gotta go look for that um and then antelius just sold to a private equity company after all that kind of like uh you know after all that that hot water um and then now is he so he’s doing the moon mining thing i’ve seen that he and he has another thing that measures like you’re you’re i think it just like measures your poop doesn’t it it’s like your gut stuff and um i don’t know much about that yeah yeah that one uh the you saw that one like the the fbi or somebody they get the whole company’s got office got raided because the founders were like um you know like basically lying or cheating or some crime basically and then the founders got kicked out this company had raised a bunch of money um i don’t know the exact story here let me let me look that up no i think you’re thinking of biome versus volume oh okay and i think they did the exact same thing but uh so that’s why i said i i thought the same thing i was like i remember this couple they looked like a couple and they got a couple okay so that’s biome not vyam i think but that doesn’t even matter i think that if you are like this prolific in terms of like even if you’re accused this often of stuff it doesn’t mean you did it but it means like hmm like why does this what’s the common denominator here it’s you right what’s going on here yeah so anyway that’s that’s my list you