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 let’s talk about jack first okay so we have a friend jack butcher who is uh he’s behind this account that’s kind of very popular on twitter called visualize value he himself was kind of like a designer background so very like kind of artistic guy and um by the way every time i say artistic i think i’m about to say autistic and so i have to like you know catch myself each time make sure i didn’t call them autistic so it could be that who knows well actually the thing about jack is he’s very smooth very very low-key nicest guy in the world and uh i i met i met jack a year ago a year ago i contacted him and asked him to do this design stuff and then he was just up and coming right and sarah and i my wife became friends with jack and his wife and we they spent thanksgiving with us down here in austin where uh they just had a baby and we’ve been friends with them talking all that stuff and he did his story is that he used to live in new york city him and his wife he’s british he he came here 10 years ago they shared a one bedroom or sorry a studio apartment that was 400 square feet and he was they were nothing i mean they were they they tried to start an agency business it didn’t go so well and they were on their last dollar and this was only like 18 months ago right okay so so he he kind of pivots to basically saying okay within the agency it’s work that i do the part that i like and i’m good at and other people don’t seem to like what they really want are these like pitch decks i’m making i’m really good at making these slides where it’s just a rectangle and i communicate some information on it and so that’s where the visualized value brand came from was he was just putting out like a little you know like an image a rectangle that would take a concept and like bring it to life visually and so he started off getting popular by just taking a bunch of naval’s popular tweets you know sayings his little kind of one-liners and he would create a graphic out of it and he has this one graphic style you if you’re on twitter you’ve seen it it’s just black and white uh it’s always a black background with white text on top and a little kind of like very simplistic minimalistic um like graph or chart or drawing on top of it okay so that’s visualized value so he does like the normal creator thing he gets a little bit of an audience his twitter grows to a hundred thousand people he creates a course he creates kind of like a paid community for people who want to learn this thing and he’s doing well for himself right and that’s where we met everybody and he he he’s it does he does north of a million dollars a year in revenue and the only uh expenses are like the small software stuff and then him and his wife exactly and um so he’s doing he’s doing very well for himself right but it’s all relative she’s doing much better now so what happened um this craze around nfts came out and if you don’t know what nfts is just think of it like digital art that people buy and uh crypto people people really like it because it’s virtual art in the same way that crypto is sort of like a virtual money or a digital money so anyways jack starts doing nfts so jack basically takes his same art that he’s posting on twitter for free and he’s like no now you can own this piece of art so now you can own this post that i’m putting up and so he just dabbles you know just does an experiment i don’t know what the first one sold for i think it was like one ether right uh one when he used two two or three thousand dollars it was like yeah just close to two grand and uh it was like 1.5 ether or something like that so it’s like two or three thousand bucks still pretty sweet right like this is just a you know dot png file that he otherwise uploads to twitter for free and now somebody wanted to own the dot png file because their fans are his and this meant something to them and they had a bunch of crypto gains that they could reinvest their chucky cheese money right and so um okay so now he’s like stepping it up so we’ll fast forward he does some more nfts he releases another nft this one gets bid up and gets bought for 33 eth which is i think something like um what is 33e 338 times like 70 grams like 70 grand so he sells one of his images for 70 grand and i called him right when i saw that i go jack is this real did someone he goes yeah it’s crazy mate that’s all i said right right exactly because he’s not like he’s not like a schemer in any way but i think he is smart and he is interesting he likes to dabble but like he wasn’t he’s not trying to pull a quick one he’s like putting his art out there and people are buying it and so i actually message the buyer and i go why the heck do you buy this thing it’s some random you know random username he just goes oh you know i love jack and i think this is going to appreciate value and i just you know i just really love this like i just love the i love the art and i was like wow okay fantastic so that’s the guy bought it for 70 grand so then he did something even crazier which i’m talking about the packs do you know the packs yeah so to explain that one so the the part of the story is the the crazy there’s two crazy parts of the story the most recent thing that happened which we’ll talk but the first crazy thing is he was like you know what if i did like people love jack he’s got a cult following probably more than sean people love sho they used to love me that they moved and what he did was he created a website where you were buying a pack he had 12 packs all it said was pack one pack two pack three it looked like a imagine like a baseball card but with a jack butcher cover on it it was just black and it said visualize value pack one right and you would buy these packs having no idea what the nft art was in it right he had 12 of them and people were bidding on them and each one sold for around 10 to 15 000 which is i thought amazing till we get to the final part of the story or at least the most recent part of the story exactly so he so he gets to today i log on to twitter as i do first thing in the morning uh what’s going on in the world tonight holy [ ] jack butcher has listed a new piece of art for 76 million dollars something like that what is this what’s the exact number 72 76 million he basically and it’s called fame and what he did was the most the highest um priced nft thus far in the history of mankind was beeple the the artist people uh who’s like jack but even more popular so people had done a a few drops those drops were like kind of in the one to five million range-ish and then the most popular nft of all time was sold for 69 million dollars recently and like there’s some rumors that like that was sort of a manufactured sale like somebody came in and did it just to they’re gonna like i don’t know these are rumors but rumors were that they kind of made it a publicity stunt so anyways jack uh basically says cool this is a nft called fame and for fame is it it’ll be the number one priced uh piece of artwork in a digital artwork in the world right so he prices it above the people i wasn’t i wasn’t referring to this i was referring to what he did last i didn’t even see this this is crazy today last last week what he did was he he wrote he did an nft and it says here’s the difference between a uh a jpeg and an nft and it just had a verified it he basically made a tweet and then he sold that tweet for like 150 000 right which i thought was crazy this is way crazier yeah because it’s crazier because it might work exactly so okay so let’s walk through this if you’re jack why i’ll tell you why do this and why it might actually work why do this well um if if nothing else this is just a great way to drive attention uh press and um and just do something that’s bold right so pricing you know pricing a piece of your artwork for 77 million dollars it doesn’t even mean it doesn’t even matter if somebody buys it just pricing it for 77 million dollars is uh is already going to put you on the map the second thing is this might be a you know let’s say you take the three outcomes somebody actually buys it for 77 million dollars right um there’s been crypto punks now the the number one crypto punk sold for oh bro you look this up how much did that crypt the top crypto punk sell for i think it was like seven seven million dollars something like that people sold for 69 million so there is a chance there is a maybe five percent two percent chance that this thing actually sells for 77 million dollars which would be incredible second thing this might be a shoot for the stars you land on the moon situation uh yeah the crypto poke sold for seven and a half million um and the guy who bought it by the way this is kind of cool i don’t know how you pronounce this but the person who bought it his handle is perugia or pervugias i don’t know what it is i’m not in the art world but that’s the same that’s an homage basically that’s the same name of the guy who stole the mona lisa which is what helped catapult the mona lisa to fame was when it was stolen um and that was like part of the part of what made the mona lisa even more remarkable and more valuable now most valuable piece of artwork in the world um and so so okay so by the way great usage of the word homage yeah thank you um we’re trying to class it up right here so all right so so he might not sell it for 77 million but even if it sells for 1.7 million that’s 1.7 million dollars that he just you know manufactured through his own creativity and you know and probably i would bet you like four days of effort um i got i have chills looking at this tweet that he put out the reason why this is so crazy is it might work someone might be crazy enough to do this right he basically has a no loss situation and because jack’s brand is because he is authentic he is um not kind of like a you know quick flash in the pan trying to make a quick quick dollar like he’s literally almost like he’s more of an artist really than he is like anything else and so he’s been doing this for a while he’s been creating daily content he’s been building up a following and so just like people did that people did people did a new piece of art every day for 10 years and so it’s like you know he’s an overnight success 10 years in the making and i think jack’s very similar so i see jack having a no lose situation and this is nfts are a thing that basically fits his skill set and so like there’s a lot of reasons people kind of [ ] on nfts right now one is that it’s overvalued it’s a bubble what do you really own look i can just screenshot and boom i own the thing too you know like there’s a bunch of ways you can make fun of this but one of the good things that came out of this is that um you know in most of these these like kind of hype cycles it’s the suits on wall street that get rich uh this time at least it’s starving artists that get rich and so you know at the very worst even if the whole thing comes crashing now at least a few artists got paid and you know who could be really too mad at that i i can’t so so i think this is kind of like an amazing thing jack’s doing this boggles my mind should we ask him to come on do you want jack to come on yeah we should be sure are you friends with him yeah all right not as close as you guys but yeah we’re close you should mess with him let’s see if he hops on today um just be like you free to come talk about your thing for for five minutes let’s see if he hops on at the end of this all right i just texted him all right we’ll we’ll come we’ll come back to that i feel like i can rule the world i know i could be what i want to i put my law in it like no days off on the road let’s travel never looking back