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 it’s like you know Martin Luther King’s one of my heroes but he also cheated on his wife a lot I was saying I talked to this lady I met her at a conference and she worked for Google but or like big thing inside of Google what’s called Google Labs or something where they’ll do like a hundred million in revenue or something but they’re like it’s too small like it won’t move the needle they just really yeah that’s surprising I’m I don’t believe that I’d love to hear which ones of these projects that they had got to do she told me that uh she’s like it’s like we don’t know how big it can get so we’re just gonna kill it and she also said that they had a hard time finding leaders because the people who they would have were people who had started companies in the past and they just paid them so much at Google that they were like like I don’t go right here yeah there’s a pretty cool story about have you heard about the Cisco spin-out spin in model no so so a lot of companies try to do these like innovation labs innovation arms innovation blah blah blah you know just a lot of it’s just like kind of PR puff but the companies genuinely they do want to innovate right why would they not but it’s really hard for them and Cisco is one of the few companies that’s done this really well where they have incubated and they do what they call spin out spin in multiple businesses that have been worth over a billion dollars to Cisco and so I was like how the hell did I do that and what they have is they have this little group of I think for people who have now since left but they’re this group of four that were there for god knows how many years fifteen twenty years something like that and they called them some nickname I don’t know I’m gonna make it up called the M group or something like that it’s at the em team and what they would do is they’d have some idea or they would you did that team would have an idea or the company would have an idea and they would spin out to this group so they were their own company they would get their own little office they would build this product they would they would build it up and Cisco would have the right to just rebuy it for like five hundred million dollars whenever they’re ready whenever whatever they view it’s ready and so there’s a whole bunch of so that same team did this three or four times that same group of four or five people they went out built the thing spun back in and they did it again and again and now they’ve actually left and the that group of people I think they’re just doing their own thing but if you want to look it up I should have looked it up before this but I didn’t know we were gonna talk about it but who’s on that cat table I think it’s just those four people and Cisco itself or something like that I don’t know how I don’t know it’s like works starting companies with a buyer in mind with well you are though you have the right to buy I have the right to buy back VC I forget who it was and he’s like I don’t really I typically don’t invest in companies when they like havoc and exit plan in mine like because I want them to because I think that then they’re not in it for the right reasons but he goes he goes one time I did do that I invested in this guy and he said this company is gonna buy us probably in 36 months because we’re gonna build something they can’t build and I’m gonna operate faster them and end up becoming true right all right so here’s the article Business Insider article why cisco showered these three men with billions and of course it’s like behind a paywall but the basis do we know them frame somebody Mario Missoula and now we I don’t know them they’re older they’re all older they’re not sort of I don’t think they’re in sort of like the same scene that we we roll in but but yeah it worked for a while and then now they they stopped doing it I think some companies have tried to replicate it but it hasn’t worked for them I’m not sure exactly why but you know if you could figure out how to help big companies innovate there’s obviously a lot of money to be had there so um before we get into this I gotta ask the listeners and you something so Jack our friend Jack Smith introduced me to this guy a few years ago and I don’t even want to say with the services yeah but babe okay I think I could say a little bit there’s a ride-sharing service one of the ride-sharing services and what this guy does is he had I think this is how he does it I don’t exactly know but you can buy discounted credits right you know how I paid 20 bucks and I get 10 back like in referral and then sells it either that he’s gaming the exists it’s not as far as I understand it’s not like illegal there’s no like sort of illicit hacking everything he just says hey they have a referral system which is cool you get a you know every time you refer somebody to get certain amount of credits and what he realizes he can do cheaper maybe shorter rides in India and that will count as a new customer that’s been referred and so he can give you in the u.s. you know your full credit for a lightweight right there and the arbitrage there’s some money he keeps some money and we get a saving and then the ride the person who takes the ride he gets a free ride so it’s like a win-win-win for everybody but the service and to add to complexity if you with Bitcoin you get a bigger discount and if you like do XYZ like it’s it’s it looks incredibly shady long story short it’s interesting it’s a cool story it’s definitely it’s not a scam but it’s questionable about the ethics and so do we want to promote this or not um yeah of course I stopped promoting it I am interested in this guy’s story and I think a lot of people be interested in it you can make your own judgement after you hear them out as to for promoting unethical behavior yeah but people call you for whatever I I don’t think we’re promoting anything it’s one thing okay it’s promoting if we say this is awesome go do this okay that’s fair but that’s an opinion right but I think the right thing to do is to say hey here’s somebody who’s doing something interesting they are they found a way to hustle and create you know create a business for themselves as well as value for others we should hear them out and then let people judge for themselves is this like past the gray area and not not cool for them or is this actually like you know fine and so I think I think that’s we should leave that up to the listener but our job is to tell the story and also I’m curious so why not have a mom who cares a journalist alright well uh he’s met he message to unite well we’ll set it up I don’t even know if he speaks English well enough I guess we’ll find out right yeah we’ll find out we’ll bring him on so I had some other of these these are more like actual scams but I wanted to talk about them I don’t know why I wanted to just tell you some things that I’ve seen okay so recently I don’t know if you’ve seen on YouTube or if it’s just in my recommendations but all day every day there’s a live stream of shamov poly Hypatia who’s kind of like a known investor early Facebook guy billionaire it’s like Chamath talking about bitcoin and it has always like 40 50 thousand live viewers watching it at any given time and it says bitcoin giveaway Jamaa fit coin giveaway and what they did so what someone’s doing which is just totally a scam they have a stream going they have a video embedded of Chi Minh talking about Bitcoin from like five years ago it’s not Tremont’s doing this by the way he’s trying to get a cook and then on the screen it says Bitcoin giveaway send me your address and I’ll send Bitcoin to somebody and I think they’re just making money off the ad revenue of this live stream and it has like 40 50 thousand people I’m sure some of that spot traffic and some of it is real traffic but it’s hilarious that somebody’s doing this like a what a waste of time and B it’s hilarious that YouTube allows this tomas trying to take it down but okay so that’s one little thing I noticed here’s another one you know when the US government came out with the kind of PPP like hey if you’re unemployed or you’re an employer and you have people you can get access to money so of course the Nigerian sort of scammers came out and they actually took out a hundred million dollars from the system I don’t know if you heard about this they just filed as either unemployed people or or employers of unemployed people or sorry employers who pay the sort of Nigerian scam ring it’s only what’s it’s called the 409 scam I think it’s called is that the name of the program is that like the country code of so a lot of these guys are based on a Lagos Nigeria I think and I think and I believe that they’re there because for some reason it’s part of I don’t know how it got embedded into that particular culture where they’re where they it became a thing but I think I also think that there’s a not really strict laws around like there’s a lot of loopholes in law that you can not get punished so this guy totally scammed are these these group of people scammed out a hundred million dollars out of the government yeah the u.s. government well the US government was giving away money for like in a really intense two week three week frenzy abreu just linked some guy in from Wikipedia Emmanuel mudiay I don’t know how you say his name but he sold an airport for 240 million dollars he didn’t own this Airport which is crazy so there’s that and that here’s some other ones that I thought were interesting so you know super PACs like the political fundraising thing which sort of like gets around the normal donation limits for yeah it’s like a it’s like a it’s like they like form a company or a fun and give money to the fund and that funds allowed to donate a larger larger quantity of money right so they’re super PACs for every cause so my my friend who’s my friend Jason had this hilarious idea he didn’t do this but he was just like he’s very politically minded and he hated super PACs cuz he’s like oh god like it’s the super PACs who get behind let’s say the gun lobby or whoever that like fund these things that I don’t agree with necessarily and I just think super PACs are kind of shady there’s lack of transparency blah blah and then he sort of had this idea of like if you can’t beat him join him so he was like I know what I’ll do and I thought this is a hilarious idea he’s like for every issue I’m just gonna spin up to super PACs one taking each side and I’m just gonna raise all the money again for both sides and I’m gonna take a cut for every issue he’s like until they shut that super PACs and I thought that was a hilarious way to fight super PACs didn’t uh do you remember at founders dojo where I used to work out of it was like this office that was kind of like Erlich Bachman on the TV show Silicon Valley I think Dave did something like this where he created a a donation thing who was running Trump versus Oba Trump versus Hillary and he created like D like created something where he was like pledged support to Hillary and then he also had a pledge of support for okay yeah exactly there’s all kinds of crazy stuff I don’t know I don’t know why I needed to bring up a bunch of fake scams what what’s wealthiest person who you know who got money off of like a shady way I gotta think about that do you have one I don’t know if this is shady but I have a bunch of friends that have made a lot of money like 30 40 50 million dollars off of what I consider to be borderline unethical internet marketing practices like for example who have run call centers like you know how you get a phone call from like Marriott hotels it’s not really from area it’s like or you know if you I knew a guy who had a company hold on it’s not really for Marriott and then what I don’t know how the scam works so I get the calls all the time but they’ll say like you know you won this you won like it’s basically they’re selling you travel packages it’s like you were picked from a random drawing to get a discount on a all exclusive trip to sandals so that’s not unethical it’s just obnoxious and then I know a guy who made a bunch of money off a CO registration company so like when you sign up on Expedia they sell your email address to 18 other travel stuff and he was the middleman and he made like 50 million dollars embed it all on in the stock market in one big okay the closest the first thing that came to mind or the closest thing that came on I don’t actually know this person but I you know no no the guy’s kid and and this is the dad so there’s guide intervene Jane who oh I know him CEO of this thing called InfoSpace back in the day and it like during the.com boom InfoSpace was like you know riding high and then you know sort of overnight InfoSpace crashes but he had sort of sold out or you know protected his own interest right before the crash and was like you know everybody lost their jobs in their 401ks and the company and this guy was like a billionaire and so that was sort of shady and then he started this thing called intelligent I think that’s the name of it yeah and it had a similar outcome yeah Telly’s is this like shady thing where you would sign up for a free credit check I think or it’s like back you find information from public records about people or about yourself I don’t remember exactly what the what the product was cuz I don’t spend too much time you know like think about the stuff but basically there was this tiny checkbox at the bottom which was like cool you got this free credit check but then we’re gonna charge you 20 bucks a month just kind of on subscription after that for blah blah some [ ] and so they were making millions and millions of dollars and people were all like wait what am i get I just paid like two hundred dollars this year for Intel yes what does that mean what is this and people kind of screenshotted the flow and showed how like you know size for font the the fine print was that you’re gonna get charged for this thing and so that was pretty bad yeah that guy claims to be a billionaire yeah exactly he’s a pretty like kind of crazy charismatic guy he’s now got this like company that’s about going to the moon like a rockets company and all kinds of stuff but he’s definitely you know behind that smile there’s definitely like some skeletons or some baggage like you know neither of those two two stories InfoSpace or I think it’s called int Elias neither of those seemed like the most up-and-up companies well let’s talk about some legit companies right after our podcast Monday I went and bought a car you committed I love it if anything take-take-take inspiration from the massive immediate action that that Sam and hopefully may take whenever we say we’re gonna do something we just go commit and just do it right away yeah I uh like I made the decision Saturday I bought a car Monday I just went like I showed up to buy the car and I was like yeah I guess I’ll take that one and they’re like how do you want to pay for it house like oh I shouldn’t even think about it and they just took a debit card right okay so so let’s do some other companies or some other ideas that you got what else you got otherwise I have a couple we can do we did a ton of research that we didn’t even get to last time so once you I pull I have our sheet up why don’t you kick it off alright so I’ll do one so this one actually comes also from Jack so this is sort of the Jack episode he’s the guest but we don’t have him here so he was talking a little bit about baseball cards and I know baseball cards are hot right now cuz Gary Vee he’s been really pumping baseball cards and talk about baseball cards all and so baseball cards are like a collector’s item they hunt they have value they appreciate overtime it’s you know like many many goods of that kind now one thing that’s a common problem for people who are buying selling and trading baseball cards is the actual receiving of that you know you receive a shipment you have to open it up you hope it’s not damaged you have to verify that it’s real and then if you sell it you got a sort of go through that whole shipping process right back to the other person hope that nothing goes wrong in the process and so for people who are collecting these as a sort of financial asset in some ways and they don’t they’re not like sitting there trying to carry them with them to school or something like that you don’t need the physical card he was saying why is there not sort of a central repository where you can like a like a safety deposit a Fort Knox for for the baseball cards where basically you buy and sell it online but it never moves it just sort of exchanges ownership but it’s all stored in this central vault where it’s cooled properly so they don’t degrade they’re all verified by a professional there who is centrally located you don’t have to deal with any of the shipping costs or potential issues there so I see the headline to you the Fort Knox of baseball cards yes I think is a pretty clever idea and obviously could extend to sneakers could extend to art could extend to other things maybe there’s something that like this that exists I don’t do baseball cards or art do you dabble with any of this stuff um I got into shoes after I learned about him we wrote about it on trends of about a year ago and I’ve since gotten into them yeah but not to the point of wanting to make money off of it but to the point of like spending 200 worth of value locked in it you know like Shopify has like 50,000 ish or it did two years ago when I looked at this maybe it’s a hundred thousand now power sellers Etsy sort of in that same range twitch has like in be fifty thousand ish partners sorry I don’t think there’s a hundred thousand sellers I think that there’s a hundred thousand people who are interested in transacting in this market right right and so I think you could get I think my point is that the kind of circle of influence is pretty tight here where the number of people you would need to convince and that you could go learn from to see if this is a real problem it’s kind of small and that’s great it’s like kind of like online poker where you just go get these fifteen pros to do something and now they sway the rest of the casual community with them as like oh yeah that’s the best practice that’s how we do things now it’s pretty interesting and I love it and I like its I wonder I would have to imagine this has significantly better economics or maybe not in storage so do you know how the companies like clutter are doing I always assume that those companies are on the verge of failure now I don’t know if they because and I think Omni actually it’s like everything’s going great we keep raising money we keep adding high-profile people and we shut down like that’s how these companies tend to go or they they break out you know but you know that public storage you know the company public storage is huge yeah it’s the most profitable company on the stock market is that right by cool claim is that my margin so it like does four billion in revenue and like two billion in net income interesting yeah it’s like the most profitable thing now they don’t do what they don’t do all this high cost [ ] that all the new startups do or they like want to bring you your stuff they just say like here’s a room bring my stuff it’s yours give us 100 a month [Music] but it could be a it's a really cool idea I that's my point and so also other thing I'm sure a lot of people know this but I was ignorant I didn't know this but these storage companies the real estate businesses yes but it's just a it's just a way to get profit to buy real estate a great book I read when I was in college that inspired me I was like on the verge of going down the real estate track rather than an entrepreneurial track or the sort of started B track and it's called confessions of a real estate entrepreneur it's an awesome book if you're a total newb and you're just curious about how the hell do people make money it's not about the terms and the tactics and all that stuff it's this one guy being like I wanted to make it real estate so then so he's like my first deal I had no money and I found this warehouse and then it negotiated this and he just walks through deal by deals for like ten deals of confessions of a real estate entrepreneur and one of them was about storage and you know the whole game with real estate is you sort of need to see value where others don't so other people look at this twenty five thousand square foot store warehouse and they say ok warehouses are valued at X dollars per square foot so this building is worth at why and what you need to say is hey if I subdivided this warehouse it's just tiny storage units and I add it all up now it's worth you know X plus y dollars per square foot is more it's worth more so I can go buy it I can actually pay more than that I next to me cuz I'm gonna I know I can get more value out of it than that person can because I know how to change use or add value in some way that's what we work did they took office floors and say hey what if he subdivided it and rented this out by the desk and so that's like a common real estate strategy that's what storage units are and if anyone listening to this I think some people will get mad at me I don't give a [ __ ] real estate has the highest ratio of rich and dumb people like right how do you what you what I'm saying wearily what you're saying it's got the highest ratio of low IQ rich people this very doesn't mean if you do real estate you're like here it means there are more wealthy people in real estate who are not superstar geniuses who you know work them storm'll working people like a normal smart rational person who obviously had some skills took some risks but there are more wealthy people in real estate that way if you just said hey Sean you know in the next 10 years you die if you don't get wealthy I'd be like cool go into real estate like that's my best path my highest likelihood chance of becoming wealthy is through real estate versus any other sort of venture yeah it's the highest the highest dumb people to rich people job I've ever seen in my life I love it ok so that's my that's that's Jack's Jack's idea which is sort of Fort Knox for baseball cards I like it what else we got um let's go to uh we're gonna talk about hey did we talk about hey I don't think we did we didn't go for it ok by the way this look at what I'm drinking here I drink these all day Heineken zero point zero it's called Heineken zero it's not nine out it's not the same it's not alcoholic beer it's zero alcohol beer I've been drinking these all day they're awesome wait what do you mean it's not the same as non-alcoholic difference I don't know the legality but the I drink a lot of non-alcoholic beer because I like beer the normal non alcoholic beer says it has less than 0.5% alcohol this has zero point zero and Heineken said that this is their fastest-growing category and you like it I love it I drink I'll drink for a day so what's in it that makes it taste it does it taste like beer or it tastes like something else it's a it's a they call it a malt and yeast beverage it's a unique recipe it has 0% alcohol is brewed with pure malt and special a yeast just like the original Heineken lager beer it has the same taste but without the alcohol that's hilarious they sell the same product with without the expensive ingredient in charge the same for it like here well let's give you less ingredients water malted barley hop extract and natural flavor that's all it is so oh man I love these I drink my crazy they're awesome okay we apparently we did talk about hay a little bit but what did you want to talk about uh I just wanted to sort of call out the the sort of marketing side of things of what they do so have you read the book rework which is there the 37signals book years ago but they basically say that like one of the marketing principles that they talked about is like to have an enemy right yeah I think there's a chapter called pick a fight and I want to read it so let me see if I can pull it up real quick hold on to give you two seconds and I don't know if you do this but I do it all but here's the here's the like summary of the thing okay so should I should have pulled I should have pulled up my book before I did this hold on okay so here's a section of it if you think a competitor sucks say so when you do that you'll find others who agree with you and rally to your side being the anti blank is a great way to differentiate yourself and attract followers for example Dunkin Donuts position itself as the anti Starbucks it it's ads mock Starbucks for using you know these fake Italian words you know instead of just saying small medium large or they'll do a campaign like they made a site called Dunkin beat Starbucks com where visitors can send e-cards with statements like friends don't let friends drink Starbucks howdy is another example it takes on the old guard of car manufacturers it puts old and old luxury brands like rolls-royce and Mercedes on notice by touting how it's a fresh alternative Apple jabs at Microsoft with ads that compare Mac and PC owners etc etc all these examples show the power and direction you can gain by having a target in your sights who do you want to take a shot at you can even pit yourself as the opponent of an entire industry Dyson Airblade starts with the premise that the hand-dryer industry itself is a failure and it tells and then positions to help as a faster more hygienic option I can't believe it's not butter puts in puts the enemy right in its own name having an enemy gives you a great story to tell your customers taking a stand always stands out people get stoked by conflict they take sides passions are ignited it's a good way to get people to take notice what do you think picking an enemy yeah I'm down I right now my enemies New York Times a little bit and basically the media and people journalists who say they don't have a bias button like they can't admit they do so yeah I'm down with that and with hey calm I call it hey calm I think it's working well I think that um so they picked who I think initially they picked just traditional email like Gmail as the enemy for being like cluttered you just keep getting spammed by random things email you don't want it's a headache you know now wait for the Apple and now they picked Apple and it was a way better fight to pick because it's a more novel story and it doesn't seem as self-serving as when they pick Gmail is the competitor and I like that I actually like these guys a lot and so I'm gonna talk [ __ ] about him a little bit but in general I really like them and I respect them but I do think that it's a little lame what they like some of these moves are a little bit lame because they also pick a fight with like main main mainstream startups about giving equity when they're like make millions if these guys probably make 10 million 15 million a year in profit and they're very very wealthy and I feel like it's a little hypocritical so they on Twitter people are calling this beef marketing so just have a beef with everybody just to keep keeping your keep your name relevant and there's always gonna be some people that agree with your side of the story so for example against the startup industry they are anti VC don't take funding be profitable which is weird because they've taken funding from Jeff Bezos right but on the whole they they don't play this or they are profitable and they don't play these sort of Raisa ABCDE like sort of get big big big IPO so they picked that fight they picked the fight of you don't need to work 80 hours a week 30s enough be productive just be smart don't kill yourself you don't have to be working the other day that they are working through the weekend resolve all the issues right but I'm saying in general they've I'm not saying these are correct I'm saying these are the fights that they they easily trigger people just like they triggered you just now then there's then they also do like they take summers off which is part of their kind of like don't be a workaholic thing and they have one more which is sort of like don't depend on any platform so like don't be don't be dependent on anybody and these funny I get in and I like a lot of their philosophy I just think it's stupid what do you make rules you don't I mean like when you make rules around something it's like dude not everything has a rule like a lot of time like you can't say that you are anti VC I'm not anti VC at all right I'm just like Pro like let's be logical and let's look at a variety of options right but that doesn't sell right so so if you just looked at it in terms of like if they if you just said they're doing all of this for marketing purposes if you if you believe that to be true then what they've done is incredibly effective it's sort of like buffer right maybe you don't agree that you should transparently put all your company salaries and revenue and losses out there publicly but if you looked at like marketing has been undeniably effective marketing the company no I'm on board I think look it's working for them I just think that some of their opinions are [ __ ] but I like them a lot and I think that it's incredibly effective for them so why don't you pick more fights that was kind of my takeaway when I saw this I feel like you guys could do way more of this I think we should and so like you can't plan right now so I just picked a fight with the guy today did you see my Twitter no I didn't what is it hold on one second economy yeah okay I'm looking at your Twitter right now so you picked a fight with this 2vd vld why it's about the person yeah so what is this tell me what happened my landing page they copy drugs completely and I just they're full of [ __ ] and I emailed them and tell them to [ __ ] off and they like try to justify it I'm like no you're lying like I just looked you up a web archive you just copied our page like I see when we launched and then when you launch you write word for word ripped us off that's okay so you picked a fight with them but that's actually uh if you look at like what the rules are of this game that's actually a bad fight you don't pick by example littler than you you got exactly well you said New York Times so first I was thinking cuz you guys have as a competitor like morning brew right so like they pretty similar pretty they're kind of similar size and that's one that could be more like PewDiePie versity series where the feud actually would help both sides grow so that's more like wrestling where you could be like cool I'm gonna take you you attack me this is just gonna generate a bunch of buzz it's sort of like that barstool color daddy thing where it's like both sides end up more popular and through the through the drama so that's one that I think you guys could do the other one would be more like against the mainstream mainstream media which could be New York Times now there has to be some level of authenticity to it so it's got to be something you genuinely do you believe like it could be the thing that like why are you guys pretending like you're not biased but that doesn't tell a great story about you guys and what you do it's not like you guys are like it's not that the value prop of the Hustle is to be opinionated clearly and be subjective not even try to be objective I don't think that's like what y'all do so yeah I think you got to pick a fight that a makes sense B is polarizing and C somehow tells the story of what also is all about by being the opposite of the thing you're hating on I thought about making front of the skin because I think they're like a joke but then I was like I don't know if I would win that fight yeah I don't know I think there's something here because I think in general you do have strong opinions about things but I don't see that come through via the hustle maybe intentionally maybe you've censored it maybe you haven't but I think no I'm not censorship how about this let me let me let me a small tangent something that I'm we're testing and I'm thinking about launching is I'm pretty obsessed with the idea of expert opinion as opposed to journalist opinion and one thing I'm testing is I built this network of like a thousand experts and every day we're emailing them stories and getting their opinion and we're gonna just publish their opinion we're not gonna touch it when I couldn't edit it we're just gonna say here's a guy see what they said right and that's interesting to me and I'm gonna get people to pay money for it yeah I think that's actually pretty dope private Twitter I saw the like mock-up you guys did I didn't love that but I love the idea of this because when I think about it this actually what I care about I care about what do the people who actually know their [ __ ] think about this and not the journalists with their opinion the editor with their agenda the journalists talking to an expert and then like siphoning off one quote and having that be you know that fitting into some narrative I just like let's say it's the like right now the NBA is about to resume and there's a big debate should they come back or should they not come back some of the players don't want to come back because of coronavirus some of the players don't to come back because it takes away from the black lives matter movement and there's all these ESPN Talking Heads that talk about this like there's literally this guy Brian Windhorse who's like you know the opposite of a basketball player he's like a short fat white guy who's never played basketball and he's always talking about what should happen what shouldn't happen and I'd rather just be like cool the the ping goes out to all the NBA players and here's the 80 responses we got back LeBron said this I don't know if is anonymized or if it's with their name but would be way more interesting to me it's like here's what they actually think yeah so that's what I'm thinking about building or that's what we're attempting to build and and in that case the enemy to me is clear it's just like journalism as a whole journalism because yeah what do you think about it like we don't need you a little bit phone is a journalist and I hate when here I I hate the fact that journalists journalism is a circle jerk on Twitter like they only want to impress each other they don't want to impress their audiences like you have to like what I tell our team I'm like guys we don't serve each other we serve our readers like we are their waiters we are their servants we exist to give them information and my team who has worked at a variety of places are like well that's so different than other places because it's all about how do we win awards or how do we do this for that and I'm like yeah that baffles me that that is the thing so that's our enemy for that yeah okay I like that I think that could be good cool pick a fight I like I have another random idea or thing to talk about so we both like this comedian Chris D'Elia and he was funny guy we thought he was great the bad I'll speak for myself yeah I don't know I don't know you felt but we thought he was hilarious whatever he's a comedian I thought he was the best I've seen him live a couple times and I listened to his podcast a bunch that's one of the few podcasts I listened to anyways last week gets exposed as sort of like a creep and so a bunch of people come out and say hey of course D'Elia was messaging me when I was you know 17 16 years old and asking me for nude pictures and all asbestos right so whole bunch people come out at once turns out Chris D'Elia is creeping around or allegedly creeping around and so this comes out he's sort of getting cancelled right now so two questions for you our question for you what was your reaction when that happened and then I have an idea based on that my reaction was if I was even bummed that he was accused and the evidence was damn strong prions oh I believe it to be true and in my head I think well [ __ ] you like you're here the worse so I feel pissed off because I I was a huge huge huge fan and I I don't know I'll still listen to his jokes but I will not like support him financially yes that was my other question well if you're listening to him you're still supporting him in some way I guess no but I don't know if I would pay money to go see him right so that's got my other question is and nobody really talks about this it's sort of like cool I'm a fan or you're cancelled but I think in reality you know as so many people this is you know two of my favorite comedians Louie CK and Chris D'Elia both came out to be doing really creepy messed up behavior but there's also people who are clearly still fans of Lucy kay they're probably not fans of what he did but they're still fans of him though so listen to his stuff they'll go to his shows and I was wondering how do you deal with that kind of like being torn between like well you don't like what they did and maybe you don't even like the person but you kind of like their art you know like I don't know people still feel like so like you know yeah I still watch The Cosby Show I listened to our Kelly I love Michael Jackson music here's my logic right here's here with great people people who achieve greatness who are like world-class at the crafts are nine out of ten times [ __ ] weird and hopefully only weird sometimes they're also bad people right and I just accept that like the people who I like are also good there's a great quote where it says like every great man's a bad man and in this case it is incredibly true we're like he's with all this great stuff he just has also done a ton of bad [ __ ] so I still like will absolutely listen to his stuff but I won't I think he's a piece of [ __ ] right isn't that weird that's I'm sort of in the same boat I don't know how to feel is that's why I brought it up cuz I'm not weird I mean if you like surely like there's some like like I don't know I don't even like it in political but maybe like chicken like chick-fil-a it's like dude my taste buds don't know that you hate gays right right right oh it's like I couldn't it's hard you know I could I could disagree with you I would still enjoy your stuff right yeah and I think I mean with with all with all that's coming out everybody's gonna have to figure out how they're gonna deal with this because your favorite something musician athlete comedian politician one of your favorites is gonna go down for being a total either [ __ ] creep criminal bad guy you know something's gonna come out and I think everybody have to ask themselves cool how am I gonna deal with that am I gonna still consume their stuff that I like or am I gonna protest it am I gonna think they're a piece of [ __ ] am I gonna be conflicted what's gonna happen it's like it's like you know Martin Luther King's one of my heroes but he also cheated on his wife a lot right oh that's like the rumor um so it's like what heard about that's really crazy apparently I just learned about this but like the FBI was tracking him for a while because he was seen as sort of like a potential enemy of the state and they like bugged his hotel rooms or whatever there's reportedly no one's seen this I guess but it's there's reportedly tapes of him sleeping with like 40 different women you know outside of his marriage and participating and you know some sort of sexually deviant activities but he's Martin Luther [ __ ] King right he's got like you know a day a day named after him and everything else yeah so that's what my opinion is just like everyone who's great is also bad in another person's perspective and you just you just got to take the whole person right okay so the idea I had off this was actually a WikiLeaks for creeps because one of the things that was really disturbing that came out of this was not just oh this guy I thought was cool light turns out to be not so cool and I don't like what he did it was like a lot of these text messages were from like 10 plus years ago and so and same thing with like a lot of people that get canceled like the Bill Cosby stuff a lot of that stuff I think what's happening like in that 90s or something like that and it takes sometimes decades for the stuff to come out and I think that's a shame because you know a the person sort of gets away with it and continues to harm other people or sort of you know be you know a menace in society is out on the loose as long as these things stay secret but I understand why people don't expose things and they get tied up and wrapped up in it and you know you can see the girls who came out and said something about Chris D'Elia their Twitter they're getting attacked by his fans who are like you know well why'd you why'd you send him the picture and like stupid stuff like that and so I think there needs to be sort of a WikiLeaks for creeps where there is a there is a way to dump anonymously evidence and claims against people and then there needs to be some sort of like verifying function like a set of journalists kind of like the people who went and studied the Panama papers and like dug into me to try to figure out which what's real what's not but like a guaranteed sort of anonymity layer so that you know information can get out faster what do you think of that as long as there's a trustworthy third party to verify I've been to it it's just so easy to accuse people of doing bad stuff totally and that's the reason this can't be a company cuz you'll just die of sort of libel and slander you know like because anything that turns out not to be true you get to get sued out of existence I think there was like a there was an app that used to rape guys I think it's called Lola or Lala I remember that this I remember that I my roommate was rated on it and it said like not just cheated on me and like small dick I was like oh dude that sucks like I'm sorry so yeah like I think you can't really do this as a company but I think for society it would be good if there's a way for people to be able to come forward about bad behavior better for a whistleblower network to come forward and not just about like how WikiLeaks is about sort of documents around certain things but actually around you know racism sexual harassment things like that I think there needs to be something like this obviously I haven't put a lot of thought into this I'm not an expert about the stuff but when I saw this ten years to come out I'm like something's broken yeah it is crazy that like Hannibal Buress joked about that Bill Cosby thing in his joke with something like what everyone knows this everyone knows this guy Harvey Weinstein everybody knew that like everyone we all talked about this we all know this it's like whoa what I didn't know this this is crazy like I wish I would have I agree with that I also think that there's a lot of room to deconstruct Wikipedia I think Wikipedia is I I'm like I wouldn't say I'm a hardcore libertarian but I'm libertarian or I tend to be on a lot of topics and I think that Wikipedia should actually the nonprofit or some type of like owned by the government and should be a good national treasure that yet the Department of Education should just own Wikipedia and fund it through yeah what does the brain look up the Department of Education funding and I bet that would cover you know ease easily what Wikipedia needs to stay around and it's doing a hell of a lot more than the Department of Education probably is will compete already and it might see a non-profit but I want to make sure it never goes out of business I think that Wikipedia is a treasure it's same with wicket I'm like reddit don't make money you don't need to make money well you just asked to put a little donation thing and just let us see your expenses and I'll just give you a little bit and everyone will it's like one of the few things where I'm like donation or government funding is the way to go right on okay I want to give people in the last four minutes oh my god Department of Education 68 billion in funding yeah they could afford to how much you think Wikipedia I don't even know I mean if you're if you have five billion page views a month how much will they say on their thing we need this much to survive I don't know what it is but it's like it's not work I don't think it's above two billion I don't think I don't even know later that what do you think twitch costs to run like I can't say okay if I heard just for the hosting like I'm ignorant I know nothing does it cost more than 10 million do you think it would cost more than 10 million a month yes can't say about twitch but I would just say I'm sorry Wikipedia you think Wikipedia cost 110 million dollars a month just in hosting I think it's probably about that that'd be my guess so they do 200 a year the AWS could just fund it okay this is powered by AWS it could be on every page powered by AWS free hosting that way Wikipedia’s fundings around a hundred million year there it is okay so I let’s give him one more idea before we go because we talked about a bunch of random topics today okay business idea so I just got my new house and I’m renting this place and as part of it you need renter’s insurance and something like oh [ ] here’s a task I don’t want to go do yeah go get lemonade yeah I gotta go do whatever but I was thinking about it I was like in the guy who’s telling me I need renter’s insurance is the broker the agent who like rented me the house and I was like why isn’t this just part of the lease where like you’re like hey by the way check this box because you need renter’s insurance to just do it through me and you have your register sure it’s done and so obviously this guy’s not an insurance company but what I think you could do is create a back office insurance company or the storefront is actually just all the rental agents and brokers that already are talking to the customer just signed the deal they’re the ones trying to enforce these terms and force you to have insurance why aren’t they empowered so I’ll give you an example of this I have a buddy named guy gal great name [ ] top five name guy gal guy gal is his name that’s great and guy has this company yeah Rhys I believe is the name of the company and what he does is he’s like hey you know all these when you go to sell a house and the sign goes up and it’s like Coldwell Banker or like yeah whatever KP homes or whatever it is it’s like oh is the brokerage name and then like the agent is kind of like a very secondary footer thing he’s like dude the the world is shifting where the agents really want their own brand upfront the agents are the one who go do the marketing to sales so what he did was he’s like he goat and the broker takes a huge fee so when an agent gets their fee I think the broker should take 50% and so he’s like look through technology I can make a more streamlined brokerage and what I could do is I can be a hit in back-office for any agent so you’re the agent your name is Alex you know Alex from Perot well you could just be the wrong pero group and you could build your brand as the as the storefront forget Coldwell Banker you don’t need those guys I will be the the back-office I’ll take care of the legal compliance and paperwork that the brokerage normally does and I will only charge you X percent fee and it’s much less than the fifty percent that goes ask you a call ball banker does Kalb a bigger does it but they are the back-office but they put their brand first and a broker can’t Riedel I kind of put their own marketing front on top but it’s not their core model and they take a huge cut so what this guy did what he did with rise is really smart he he targeted the top 1% of agents in every market he goes to them he said you’re at top 1% you don’t need Coldwell Banker you are the brand and he said bring your book of business to me I’ll do the same work that they do for you with the lower cut and I’m gonna look you push a button your website gets split up automatically I’ll take care of all your sort of technology needs and I take fifteen percent isn’t fifty percent or whatever it is and so I think it’s really smart model he’s doing really was he doing I can’t say but the company’s doing well and I think it’s a really smart model attacking a very big space which is this back-end brokerage thing for home sales I think you could do the same thing for insurance I think you could build an invisible insurance company and have the brokers or the agents be the storefront and just say hey you should just offer this to all your clients when they rent from you or buy from you but why wouldn’t lemonade or all of these companies go to those guys and do this they could I don’t know maybe they maybe they will I’m not sure but I know that compass kind of did this in the real estate space I know that there’s this awesome company I really wanted to invest in called what is it called damn I forget the name but there’s somebody doing this for business insurance where they where they’re trying to be a back office as a service I’ve seen that I think there’s more that I think there’s more companies that can do this that are not doing this today where you empower the agent who is already at the point of sale and you give them a thing to upsell that gives them a little bit of money and it makes your customer acquisition free and you just need to provide the backend service for it so I think there’s a whole class of businesses like this yeah I need to go and research all this I’m this in this interests me a lot I’m gonna go look up well banker I believe I see their signs don’t even what they do entirely yeah deep dive it and deep dive compass cuz they kind of disrupted the family crush it all right I gotta run my computer battery’s at 1% by the way Michael Bisping oh I Bri abrazos compass is BS Michael Bisping what’s to come on the podcast you want um yes alone please be it’d be great down I’m gonna shut my computer I gotta go see you [Applause]