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] so listen to this you don’t get out of your house so this maybe won’t mean anything to you but have you ever heard of i know timeout i know timeout i’ve i’ve read timeout so timeout started in the 60s you know that it’s from the 60s it’s like been around forever and it started as like basically a magazine and then a blog whereas like local markets but what they’re most known for now have you ever heard of the timeout market no what is that okay so they do like restaurant stuff right yes so tell me what you know about timeout so i lived in london and i think there i used to pick up timeout and i lived in boulder colorado and it’s like you know if you want to see kind of like what new restaurants there are kind of like get reviews of restaurants it was like it’s like your friend who’s a foodie who will like tell you what’s up like oh you got to check this place out oh it’s great this is a great place for a place for a date and it kind of and then they would release it at like i felt like it a lot like maybe every week or month or something it was like pretty frequently updated and i think it’s free right use it for that yeah it was like free it was just like sitting around everywhere and i just i can visually see that red it’s like a red logo right timeout yeah so it’s a pretty timeless brand it’s been around for a long time it started in england actually so if you live in london it was probably most popular there but basically in 2014 or maybe 2018 they started doing this news concept called a timeout restaurant or a time-out market so google time out market and you’ll see it but basically what they do is they went into i think the first one was in lisbon where i was this is i went to it when i was in lisbon but i’ve gone to it in miami they have seven markets now but basically what they did was they went to like a touristy place and they found like the 20 most popular restaurants based off of their blogs and like what all the touristy stuff like oh you got to go to portugal so you can taste the coffee from here a croissant from here and like some fish from here and they basically just created um a food court like in the middle of the city and they gave 20 restaurants different stalls and so when you go to this different city i went to it in miami um miami was cool because like you know miami they say you got to get a cubano from this place you got to try the cuban coffee from this yeah it’s like i’m getting in a cab just to go get the sandwich yes and so what they did was they set it up so you can go to this one food court and you could try all of the famous vendors and the famous restaurants and i went in lisbon i went in portugal and it was awesome and it was packed this place was packed and time out i like you remember time out being this like free thing and i’m like that’s kind of neat like i don’t have brand affinity towards this but when i went this place was jammed packed with young people and like like young hip looking people and time out i didn’t think as a young hip brand and i started researching this and so time out they’re publicly traded and their market cap has been obliterated in the last three years because a their digital media like went to [ ] because it was mostly restaurants advertising with them and b the way that they a lot of investors thought that they were going to grow and get big was through these markets which also were basically closed down all of 2020 but they’re killing it right now this place was packed and so basically they have 168 million market cap in 2019 they did about 70 million pounds in revenue so what’s that like is that times two uh for dollars is that like 130. it was yeah i think i don’t know if it’s still there so somewhere north but in 2021 they only did 40 million in revenue however 0.3 x now uh 1.3x okay so that’s they they were doing the equivalent of over 100 million dollars in revenue but check this out in 2019 pre-pandemic their timeout markets did 23 million in revenue 2020 only 12 million but they only have seven locations which means each one of these food courts does three million in revenue and the reason why so they have them in lisbon miami new york boston chicago montreal dubai and they’ve got some coming up in prague and a couple other places the reason why this is interesting is a this is just awesome i think this is an amazing example of a company that has a digital media presence that’s doing a really good job of diversifying two um this is a really sick business because if they’re only in seven markets and they’re doing yeah you know 23 million in revenue like there’s easily a future where you could imagine 50 or 80 of these in you know a variety of like you know touristy cities it’s kind of cool right yeah this is one where the actual experience sounds [ ] awesome and so i kind of want it to be a great business and i bet in actuality it’s like a good business not a great one but it also feels like something that kind of anybody could spin up as a side hustle um you know like if you’re in durham north carolina there’s every city has like you know 15 20 spots that are like oh the ice cream over here and the you know the the sandwich over here and oh you haven’t tried the bon bons over here whatever right like every place has that collection of stuff and then it becomes kind of prestigious to be picked and all you’re doing is basically making a pop-up tent that’s like a food court but instead of you know sabaro and cinnabon you’re putting in like cool hip places right in fact this place should actually just have a cinnabon every four stalls because that’s what people really want but you know besides that you know i feel like this is a great this is a great little side hustle that i think anybody who’s a foodie could create um i do pretty well with i thought it was so fun and when i went there i was like oh this is brilliant and so i ended up going there when i was in portugal i wanted to go there just like every day i’m like let’s just go like i’d rather just go here every day taste all like a little bit of food i’ll spend ten dollars here and i wish we had done this in miami like i would have paid a 100 all you could eat just to like walk through this and be able to grab stuff you know like all you could eat pass yes it’s it’s awesome and i went to this and i realized how much fun i had i went to i did the one in miami too um i would i’ll totally do the one in new york but i thought this was such an interesting basic simple concept and they pulled it off and it was really fun and i think that this is actually i think it’s like i don’t know if this could be an amazing business i think that time out though they could be worth over a billion dollars in the next two years once they like open up right now they’re only worth 168. um that’s pounds so it’s like 200 million um stock tip i feel like we got a stock tip here well i’m not saying that sampar is flashing the buy signal hard analyst sam sampar projects time out i i want this to get aggregated by like some random reuters you know like you know motley fools gonna like turn this into into a uh article here all right and then i forgot to tell you this but this is the most important thing uh i can’t believe we didn’t talk about this earlier to be honest with you because if you’re listening to this and you like what you’re hearing right now and you haven’t gone and subscribed to the my first million podcast wherever you get your podcast then that’s the thing you’ve got to do there’s nothing more important than doing that right now and don’t do it because i said to do it do it because you want to do it do it because that’s who you are would you buy so uh would you buy any russian stocks right now they’re getting crushed obviously no just because like i’m not i don’t want to make i don’t want to like try to make money off this opportunity i know this guy okay off brand but you know i’m on board with that i’m on board with that but let’s like let’s say beyond that let’s say like let’s say you’re a russian and you’re actually in favor of this war and you’re just crazy and you’re in do you think that would you have faith in the russian stock market well a lot of these were getting close to zero like uh you know like like real businesses were like dropping you know 50 70 80 percent and so yeah you know you’re getting tremendous value so if you’re a citizen there and you’re a believer and you know you don’t want to be in the local currency anyway so you need to you’d rather if you just told me you can either stay in the ruble or you can take your ruble and turn it into something else i’m gonna always take something else and their options on something else got cut off like okay you can’t get dollars you can’t get crypto you can’t get can get different things so what are you gonna buy and um you know so because they were limited in many ways across those some like there was like you know they stopped the amount of rubles you could sell and so you know if you could get into stocks hey it’s better than better than staying in in the uh in the paper yeah it’s interesting i i wouldn’t buy a russian company just for the same reasons that you said but we did the episode in the oligarchs and that was like a once-in-a-lifetime opportunity where russia was going from communist to somewhat capitalist and in my head i’m like this might be another one of those opportunities where you could like buy like the equivalent of exxon in russia which hopefully likely won’t go or i don’t care about hopefully but it likely won’t go away but you could get like a huge discount all right um i got a couple of things for you but first did you see this thing about the right wing site that went viral which one uh okay so check out this i wrote this thing on the on our job right-wing side goes viral it’s a link to a tweet so this guy jed legume which is just a got to be a fake name judd legume he says a far-right website launched 36 days ago and it’s already more popular on facebook than the washington post the dc inquirer has executed an audacious scheme to manipulate facebook’s algorithm and ad platform and meta is letting them get away with it and so basically the article talks about um this publication that was created so let me uh um it’s called the dc enquirer and they’ll have articles that are like um you know like whatever the freedom convoy is on the verge of victory in canadian provinces right and they will get a bunch of people to post about it and what they showed was that um and so they so they got like all these right-wing pages that are like impeach joe biden or i love america keep texas red uh save america and they were all posting the same thing and so that should be kind of like a it’s basically like a coordinated kind of like ad campaign or whatever and it started to get really really big so the page um this guy brandon gill created the page and you know it has like i don’t know over a million um you know like a million followers or something like very quickly and it’s all run under this like uh yeah it’s basically like this this right-wing thing that got popular now you’ve told me about this before which is that cons extremely conservative or extremely liberal sites will get very popular very quickly especially on facebook but and i was pretty uh surprised to see this yeah there’s a butt here liberals like yeah obviously polarized on one side does well conservative does significantly better because this is a principle that is always true which is a group of people that feel downtrodden like feel like they’re underdog they band together and they get in an outrage does more for sharing and in america so there’s like groups like minorities women um a lot of like far right conservatives because media is typically left they think you know our voice is being stomped out and so they band together so if you go to huffpo and you go and look at the comments section and then go to breitbart and look at how many comments if you go have you been to breitbart.com yeah i’ve been there go to breitbart and just like click a random article and look how many comments sometimes it’s 20 000 comments it’s crazy so i totally believe it with this website and i’m by the way i’m looking up um dc and choir i googled it i don’t see a website is it literally just a so so basically it looks like what he’s done he’s basically created like a web of like accounts that are kind of all the same so so basically it’s like there’s the guy’s personal account it’s got brandon gill and his bio is like you know i’m the founder and editor of dcenquirer.com so that’s the that’s the url uh dc inquirer with a to e e n q and it’s like his bio is patriot period proud west texan period businessman financer rancher conservative christian dartmouth husband it’s like bingo you know you get you hit all the words congratulations by the way sam you are also a rancher you’re almost like a husband i like most all those things is he also a fan of fan of corn dogs this guy’s like [Laughter] so then he’s got like basically a whole bunch of other pages so i think red wave i love america all those pages i mentioned i think those are his pages so they’ve all been built up like ones at a million one’s at six hundred fifty thousand one’s at two hundred thousand and he’s running ads that were are like if you go look at brandon gill’s ads in the ad library uh so if you’ve never done this before by the way it’s like one of the best tools available to any internet person is if you go to facebook.com and then you are just google facebook ad library and then you can look up the ads of any brand what ads they’re running so if you look at the brands he’s running it’ll be like a picture of joe biden is like talking at a rally like kind of confronting somebody and it says if you want joe biden removed from office tap the big thumbs up in the right corner and so it’s like you know it’s clearly like running political ads that are not marked as political ads basically so this guy’s point was like oh they’re he’s getting away with it you know facebook you know you need to shut this down what i thought was interesting was dude this would be an amazing little prank like if i’m mischief or i’m just like someone out there with like a [ __ ] with too much time on their hands here’s what i would do i’d basically do the same thing i’d make a extremely conservative site and i would put out some articles i would get the traction and i would do this for like two months and then the third month i would just pull the rug on everybody and it would just switch to an extremely liberal lgbtq website with the same email list i’ll just switch everything overnight once i get all these people subscribed which just for sure would make the news um yeah then and then that story of the prank pulled would create a new cycle of its own and then you could basically go get any job you want in any marketing pr or whatever agency because you could be like yeah i just i did this like so instead of sending your resume out and cover letter like do a stunt that shows your knowledge of how the internet works how media works how pr works how marketing works and you know you’ll impress a lot of people with your ability to like pull off a stunt like that that’s actually how buzzfeed started too uh was jonah peretti was pulling stunts like this i think he did it with nike nike yeah what was it again i don’t remember exactly but he uh basically said he revealed like a a fake easter egg so he said like i think it was like if you do something with this pair of shoes something happens something like no no no no no it was it was an email thing it was like a sweatshop thing okay so here’s what it is oh so he goes to nike had this feature personalized id where you could like write your name i don’t know if you did this i did this i got my name yeah yeah on my shoes i thought it was so cool he goes so he writes an email uh you know from from jonah peretti to nike id personalize nike.com he goes greetings my order was cancelled because my personal nike id does not but my oh no my order was canceled but my nike id does not violate any of the outlined uh rules um in your message so the personal id on my custom shoes was the word sweatshop sweatshop is not a name of another party’s trademark the name of an athlete blank or profanity i chose the id because i wanted to remember the toilet and labor of the children that made my shoes could you please ship them to me immediately thanks and happy new year jonah pereira and so then he sent that obviously that’s not going to go viral as an email but he screenshots that and started getting it and put it out there and then that got like kind of like a big news storm uh going and he was doing stunts like this before creating buzzfeed and it kind of showed this guy knows how to make the internet you know how to tickle the internet and he uh he he did it well one of my favorite things to watch on youtube is these videos where people will do one of two things they’ll go it’s usually always political stuff and they go to someone and they say isn’t this outrageous this person said this thing and they’ll read what they personally said and go do you don’t agree with that do you and they go oh no i don’t agree with that at all like i’m a conservative there’s no way i would be like oh well this is what donald trump said uh or like you know like they’ll do something like that well they’ll like make you disagree with something that you whatever and then they’ll do or they’ll do it and they’ll say do you agree with this and they’ll read out like um a speech from hitler and they’re like yeah i totally agree with that i’m like oh hitler said so it’s not it’s it’s and it’s actually not that fair to do that but well they also go to 100 people and 96 have like a normal reaction and then the four that fall for it it’s like they stitch those together and it just makes it look like everybody at this trump rally feel is dumb and makes this mistake and it’s like they kind of make new yorkers or rally you know participants or teens or millennials on college campuses they’ll make them look like idiots because they’ll right all you got to do is you talk to enough people you’re going to catch five people who fall for the the trick right it’s like borat right like uh when he does these tricks or these stunts they do go viral and they do make you know the other party look bad but they don’t show you all the people that didn’t fall for it and don’t believe that and didn’t say something stupid in response