My First Million: Boys React: GPT-4, Billion $ Mint Mobile Sale, Original iPhone Sale, Bay Area Storms
Hubspot Podcast Network 3/17/23 - 17m - PDF Transcript
I feel like I can rule the world. I know I could be what I want to put my all in it
like no days on the road. Let's travel never looking back. All right. Welcome to our Friday
episode boys react. We got a guest host filling in Nick. How you doing, Ben? Thanks for having
me. I'm doing great. It's the Nick Huber show today. Yeah. Yeah. Exactly. All right. Let's
go through some news items, do some rapid reactions. First of all, the big news everyone is talking
about on Twitter is chat GPT for it's the newest version of the AI. It's programming simple
video games doing pong on its own stuff like that convincing task rabbit workers to complete
capture for it. So fellows, what are your thoughts on the new chat GPT? Have you used it, Nick?
I haven't used it. I think these people need to go outside and touch some grass. You're
not a fan. No, I think it's all a joke. Dude, you are so going to get left behind. I don't
use it, but I know that it's going to change everything. Darmash from HubSpot created this
thing called chat spot. And basically, you can do a bunch of stuff, but you can like
talk to HubSpot and tell it what to do. So you could talk to it like a human and like,
you know, HubSpot's really complex, like it does a little bit of everything. And you
can just use normal words and be like, make my website look like this or email these types
of people who are on my list. And I think that's like a really good example. There's
this, you know, what like the best iteration of AI right now is if you're watching Monday
night football, you know how they put the one line or the, you know, what do they call
it? I don't fucking foul football first, first down, you know, the yellow strip on the thing
that's AI. Or you know how when you back up in your car and you see like a 360 view of
like everything around you, that's AI. So my theory is if you have to say this is AI
and the product is good because of that, that's a horrible way to go about it. But if it just
freaking works all the time, that's a great way that, you know, the product is going to
be good. So anytime something says AI or web three, and they have, and that's how they
explain it, I go, I'm out, but I'm convinced they're going to figure out another way how
to do this. Did you laugh because I didn't know anything about NFL?
No, I think that was a great explanation. And I don't want to like, I'll preface this
by saying, I think these people are brilliant. And this will be a tool that makes people
more productive. Absolutely. Now let me tell you that 99% of humans and Americans and everybody
else gives two shits about AI. They're worried about enough money coming in their bank account
on Friday to pay rent on Monday and that their house is maintained. If they have food to
put in their kids' bellies, it's absurd. Like literally, we have a whole physical world.
There's grass that needs mode. It grows. Can you believe we plant? We plant this green
shit around our houses that every week we have to go outside and cut it by hand with
a lawnmower. We got to go outside and do that. We got to wash our houses. We got to clean
our floors. We got to install carpet. We got to repair windows. We have a physical world
that's crumbling around the United States. Nobody cares about AI.
Dude, you need to get out of Georgia, man. You need to get out of Georgia. Hang out with
the real people. Sam, you didn't have me here. You actually know how real people live.
Sam, you didn't have me here to agree with you. All right, man. Let's do mint.
Okay. We talked about it a little bit last episode, but T-Mobile is set to acquire Ryan
Reynolds' Mint Mobile. He owns 20 to 25% for $1.35 billion. Wow. Guys, that's on this.
That's 25% of $1.3, $300 million. Yeah. Holy crap. More. So, and then how much did
he sell? What's his gin called? Or whiskey or whatever the hell it was? Avio or something?
He sold that for hundreds of millions of dollars recently. So this guy is killing it. That's
awesome. 25% seems like a lot of equity to give to him, right?
I think it's crazy. I mean, I think this is exciting to me and it should be exciting to
you, Sam, too, because it's an example of somebody with clout, somebody with a personal
brand, somebody who everybody likes and loves, which is the definition of Sam Parr. They've
been able to capitalize that to an insane degree. And I'm excited about what it means
for people with distribution. Meaning, if you have ears and you have eyes and people
care what you have to say, you can get involved in products and you can grow massive companies.
Sam's doing it. I'm excited about doing it. It's just the beginning of...
Dude, how much more famous is Ryan Reynolds in both of us? A hundred times? Is he a hundred
times more famous? Of course.
Do you think more than a hundred times? So what's 100 divided? What's his exit divided
by 100 and how much money is that? Is that two? Is that two million?
Still very much. If it's 20, that would be a lot cooler. But yeah, I think it's cool.
I like him. He's very likable. He's significantly more likable than both you and I combined.
Me and better looking. I think I'm a lot more likable than you. And he's a lot more likable
than me.
I'm a lot more better looking than you and he's a lot more better looking than me.
I think it's awesome. I like Ryan Reynolds. So kudos. I've been asking him to come on
this pod for a while. I want to know, does he actually do anything? You know, like what
he actually does?
What's his day like?
I'm very curious.
Let's guess. What do you think his day is like, Sam? I bet he's going. I bet he's waking
up. He's taking a 20 minute meeting where somebody tells him, yes, the whole time that
all of his ideas are amazing. Then they're going back and running the company without
him. Or is he super involved? Is he getting involved with management? Is he doing marketing
decisions?
No.
I want to know how operationally embedded he is in this company.
So one of the ways that Mitt Mobile...
What would your guess be, Sam? How many direct reports does he have at the company?
Well, zero. I think he has zero. I think he probably has the chief of staff who manages
his whole life, but zero. I think that... I don't know much about Mitt Mobile. If I
had to guess, I would say it's mostly a sales company, meaning they probably just layered
on top of an existing telecom and then just had a slightly different pricing structure
and then targeted their marketing towards a certain type of person. I think Mitt Mobile
is more like a... I think it's like a working class thing because it's all about price.
So I think it's like a really, really, really low price.
Here's a question for you, Sam. Do you think a serious operator or entrepreneur or executive
is in the background overseeing all of Ryan's holdings or do you think that he is that entrepreneur?
I think he's the guy, man. I think he might be the guy. I think he might be a leader in
these companies.
So here's Mitt's thing. I said they're a sales and marketing organization because their
commercials are wonderful. And I think they're wonderful because he says a lot of funny
stuff on the commercials and he just does a really good job of branding the company.
And I think they knocked it out the park with that where they did a really good job of being
irreverent but still professional. And I think that is what he does, where he's like, this
crosses the line. Here's the line that we can tow and how far we can push it. And I
think that's what he does, which I think is easily worth the 25% because if I had to guess,
it's mostly a sales and marketing company and he crushed it. And everyone knows Mitt
Mobile as Ryan Reynolds.
Mitt Mobile as Ryan Reynolds.
Who the big holder? Who was the big holder been? Like, do you know who owned 75%?
Yes. Let me look up the name really quick.
So this is a person that found an influencer with distribution. They knew they could build
a company. They got him involved and they put together the ultimate system. I love
that business model.
I think it's awesome. Good job to Ryan Reynolds. Let's do two more.
A quick break to let you know that today's episode is brought to you by the Side Hustle
Pro Podcast, a podcast hosted by Nikkei La, Matthews Akome, which is also on the HubSpot
podcast network. So the Side Hustle Podcast is focused on people bringing their side hustles
into making them, their full-time gigs, making them big businesses. And so she's got a bunch
of really interesting episodes. Her most recent episode is about a woman who was popular
on Instagram and created a bunch of products and brought it into Target and got it into
retail stores, which is really, really hard.
She has a few other episodes on changing the relationship with money and building a healthy
emotional relationship with money, which is something we talk about here, which is definitely
challenging, mastering self-talk and then also how to have a plan for the year and put
it into action and much more. So go check it out, Side Hustle Pro, wherever you get
your podcasts.
So a woman in 2007 buys an original iPhone, right? When it comes out, she keeps it in
the box, doesn't touch it for 15 years and is now selling it, just sold it at an auction
for $63,000. What are your thoughts on that?
Awesome. You want to know what I collect? This is weird. But so my wife, Sarah, worked
at Facebook. Now she works at Airbnb. So like these like pretty like culturally important
companies where we look back in a hundred years and maybe it'll be like Ford or something
or GE. And so whenever she gets gifts, like from Airbnb, they brand it Airbnb, I tell
her, don't open any of them. And I collect all of them. So I have like an Oculus that's
unopened. I have Airbnb swag that's still in the gift box. I have Facebook, a Facebook
book bag that's unused. I collect all of this stuff. I love it. I love collecting this like
iconic company stuff.
So what I want to get is a Silicon Valley bank shirt. I real or a Silicon Valley bank
hoodie or what's the Sam Bankman free? Yeah. FBX. FBX. I want to get one of those. I really
want to I would kill for a Theranos or Theranos blood blood thing. Like I collect all that
stuff when Twitter was auctioning off a lot of their office equipment. I tried to buy
a bunch of it and I went all above what I was going to pay. But I collect all that stuff.
Now what I really want to get, I want to get a monitor, an old Apple, a Macintosh monitor
that has the Apple like with the rainbow colors, or I want to get the desktop Mac that remember
the ones that were pastel colors like the blues and the pinks and all that stuff. I want one
of those. I just want to hang it on my shelf. I love that stuff. This is awesome. I'm happy
someone did this.
I fully support collecting and storing totally worthless shit. I think that everybody should
buy a ton of totally worthless stuff and put it in storage units right now. Put it all
right in the storage unit and you can use a company called Bolt Storage to do that.
Just leave it forever.
I think you should just keep it for all times. But no, in reality, I got a funny story. We
bought a property at auction. It had 187 units. It was in Erie, Pennsylvania. We went and
every unit had been abandoned. We had to go through and saw off like the locks and open
them up and there was dust and there was craziness. We found some really cool things. We found
a ton of really cool things. One unit had like 60 bags of white powder. We immediately
called the police. We never found out if it was drugs or not. Another one had a squirrel
holding a baseball bat. Another one had an old, old Indian motorcycle.
Oh, what type? Do you know what year?
I got a picture. I'll show you the picture when we get off this call.
What did you sell it for?
At auction. I have no idea. We technically couldn't touch anything in the units. We had
to take pictures of them and have an online auction and the people bid on them and then
they came and cleared out the units.
Do you know how old it looked? Did it look like it was from the 30s?
No, no, not that old. It was probably like not that old of a pretty dumpy one, if I
had to guess.
Oh, dude, some of those old Indian motorcycles you can get 50, 60, $70,000. Well, that's
awesome. That's badass. That's a lot of fun actually to go and like see all that crap.
But anyway, on board with this lady, who bought it, Ben? Did we know? Just some, some nerd,
some fan?
I don't think we know. I think.
Dude, I don't remember when that happened.
How did they know it was even in there? How did they know it was in there? If it's got
that film on it, what did they use a ultrasound machine to actually see if the thing was in
there?
Dude, I remember when that came out in 2007, I was a sophomore in high school and someone
was watching YouTube on their phone and we were all like standing around it. And that
was like, it was like hearing the Beatles for the first time, you know, it was like,
it's pretty amazing. It was, it was mind blowing seeing that. So that's awesome. All right,
let's do one more.
All right, last one. The reason that Sean is not with us here today, a massive wind
and rainstorm has left more than 200,000 people in the San Francisco Bay area without power.
Fellas, any thoughts and prayers for our comrades, for the working class people of the Bay area?
Any thoughts for those people?
Did that really happen? I didn't know why he didn't have power. I mean, that stinks.
I think every responsible, this is going to sound very radical. I think every responsible
man should have provisions to keep their family alive for two weeks with no power and no
internet.
What do you have?
No, I'm not, I'm not a doomsday person who thinks they need to survive a zombie apocalypse
and build a bunker to live for six months. But I think if you have a generator, some
fuel, some ready to eat packages and a way to get clean water and of course a way to
defend like hungry man TV dinners, of course, a way to defend your house. If people come
for that stuff, you're going to be better off and every man should have that set up,
in my opinion. It's like a very small investment and it goes a very long way if shit ever did
hit the fan.
Imagine being a wealthy person. Sam, could you keep your family alive for two weeks?
If your phone, internet cut off, power cut off, everything gone. What would you do? Don't
tell me you're going to go to the grocery store.
No, dude, I am a mini, I'm not quite a prepper, but no, I'm prepared. We have a, yeah, I have
that because when the Austin snowstorms happened and then COVID happened and then when a lot
of the riots were happening, I definitely got fearful. That's one of the reasons why
I bought my ranch is we have stuff out there where we can bug out to. So I'm a boy with
that. I don't think I'm ever going to have to use it, but I agree. It's a very small
price to pay for insurance. What do you do with the gas? Do you replace it every six
months?
No, you put it in. There's these things the military uses and you put stable in there
and you can keep the gas safe for five to 10 years. You can order them right on Amazon
for 90 bucks. You fill it up with five gallons of gas. That's all you need. Then you got
to get generator. You can keep your food cold and your kids warm if it gets really cold.
In January, whenever COVID happened, I had this Chinese intern working for me. He had
family in China and he was a foreign exchange student and he was awesome. And he was on...
What's the app that they use? WeChat and he was like, Sam, this COVID thing, this is like
a huge deal. It's going to come to America. And I was like, huh, this is America, dude.
We don't like wear masks. We don't have these types of things that Asia has. This doesn't
happen here. You're crazy. The next month, he goes, dude, it's coming. It's going to
be here. And then March happens and we see in the news the first case in Seattle and
then eventually Bay Area. And I was like, huh, you're right. I'm wrong. I am so sorry.
And I went immediately to the grocery store and bought as much crap as we could. And like
I had like storage. I remember I was like, you're right. Now I understand why people
are afraid of this stuff and why like the peppers exist. You're totally right. And ever since
then, my opinion has changed on a lot of this stuff. So maybe it's like a man thing when
you get a little bit older and start having a family. I'm not sure what it is, but COVID
definitely opened my eyes to like, you know, it's nice to prepare for just the worst case
scenario. I know a lot of guys who go way overboard and may like they have two years
worth of stuff. I'm not into that. It's a slippery slope. That's the thing about prepping
is it's a very slippery slope and you got to have a discipline. Hey, I don't need more
than two weeks worth of crap to keep my family alive.
But you want to know the other issue? It's really, really fun. All the gadgets, like
the different flashlights, the different generators, like I just love gadgets. So I just buy this
stuff all the time. I just bought Sarah this like thing that will break your glass if it
goes, if your car goes underwater and you're like, when am I ever going to use this? I'm
like, probably never. But like, it's sick. It was like 12 bucks on Amazon. Like I love
all that crap. I've been doing it all the same.
The best way to save a life, the best way to save a life is put a tourniquet in your
glove box. Everybody should have a tourniquet because a motorcyclist, yep, a motorcyclist
or a cyclist gets hit on the road. 95% of the time you could save their life by being
able to stop the bleeding, but a lot of people can't. So put a tourniquet in your car.
Dude, you saw the other day how I held that t-shirt up to that guy's head. Like I saw
a guy, I got, I saw a guy fall and I gave him my shirt and we stopped the bleeding yesterday
at the meetup. A guy was like, uh, worked in the military. He goes, Hey, I got this
for you. And he gave me a tourniquet. And so he goes, next time this happens, here's
how you use it. And I was like, all right. So I have a tourniquet in my car now. So
I'm on board. Uh, that's the news. Is that it? That's it.
Thanks guys. Thanks for having a voice.
Machine-generated transcript that may contain inaccuracies.
Episode 433: In the Friday segment called The Boys React, Sam Parr (@TheSamParr) and guest Nick Huber (@sweatystartup) give their two cents on a few relevant business stories. Check it out...
SHAAN'S NEW DAILY NEWSLETTER --> shaanpuri.com
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Links:
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Show Notes:
(00:30) - GPT-4
(03:00) - Mint Mobile
(08:00) - Original iPhone sale
(11:35) - California Bay Area storm
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Past guests on My First Million include Rob Dyrdek, Hasan Minhaj, Balaji Srinivasan, Jake Paul, Dr. Andrew Huberman, Gary Vee, Lance Armstrong, Sophia Amoruso, Ariel Helwani, Ramit Sethi, Stanley Druckenmiller, Peter Diamandis, Dharmesh Shah, Brian Halligan, Marc Lore, Jason Calacanis, Andrew Wilkinson, Julian Shapiro, Kat Cole, Codie Sanchez, Nader Al-Naji, Steph Smith, Trung Phan, Nick Huber, Anthony Pompliano, Ben Askren, Ramon Van Meer, Brianne Kimmel, Andrew Gazdecki, Scott Belsky, Moiz Ali, Dan Held, Elaine Zelby, Michael Saylor, Ryan Begelman, Jack Butcher, Reed Duchscher, Tai Lopez, Harley Finkelstein, Alexa von Tobel, Noah Kagan, Nick Bare, Greg Isenberg, James Altucher, Randy Hetrick and more.
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