My First Million: How Dave Ramsey Built His $300M Empire, Trademarkia, And MFM Rip-Offs

Hubspot Podcast Network Hubspot Podcast Network 3/9/23 - 56m - PDF Transcript

That sounds like this is like, you know those things where it's like we're auctioning off a date with Laird Hamilton

It's like a hug. Why don't you buy this? Yeah, you you just bought yourself a nine million dollar hug

All right, we're live

What do we want to talk about today? I've got a bunch of good topics. Let me bring up one juicy one last year or two years ago

You asked me a question. You're like, who do you admire?

I think you asked me that and I said this guy named Laird Hamilton Laird Hamilton is this like beautiful surfer dude

He's like in his fifties now. Basically. He's beautiful like we get it

We're gonna acknowledge that he's got like beautiful wavy blonde hair and like a nice skin and he's pretty ripped for his age

And he always was ripped. He's like this tough guy that surfs a big waves and whatever

He launched this thing called. What do you make fun of me because I'm

I don't need to make a joke. You've done it all yourself here

Like this is like this is like objective like I'm just stating facts here. He's a human kendall

He launched this thing called Laird superfoods. Have you heard of that? It's like a coffee creamer. That's made out of like

Coconut I think right anyway

They took the company public

I don't know why they did that but they took a public at a 300 or 400 million dollar market cap at the time

They were doing 50 million in revenue

Look up the company now. Let me find it. Oh wow nine million dollars

nine million dollars

So this company they sell like a fair amount of like coffee creamer. So yesterday. I think it was 8.8 million

Dude, so listen, they have 20 million in cash. No debt at all. Their revenue is decreasing

So it like in q3 it was 8.8 million

In q3 of last year it was 10.9 million. So what's that like a 50 million dollar a year business?

But it's declining. They're group. They have good decent gross profit

They have an okay balance sheet, but like the business for some reason it's valued so low

I would have to dive deep into it and really look at the numbers, but it's kind of ridiculous, right?

So you were talking about wanting to buy a company. You've said this before

This is your target, dude. You get to hang out with layered hamlet. Sounds like it's your target

That sounds like this is like, you know those things where it's like we're auctioning off a date with layered Hamilton

It's like a hug. Why don't you buy this? Yeah, you just bought yourself a nine million dollar hug

Dude, why is this why is this company? You haven't looked at this, but why is this company so cheap?

No, I don't know. I mean, I don't know how much debt they have but none

I said that so I read their report. They had their q3 report 21 million dollars in cash zero debt zero debt

so I never understand when when companies trade this far below their just cash value because you know the obvious

Question that is why do you not buy this thing for 15 million and just wind it down and distribute the 20 million to yourself and make

5 million dollars, you know like in the or sell the inventory they have like 13 million or something in inventory

Interesting so yeah, so I haven't I mean I haven't looked at this because you just mentioned it

But yeah, there's a bunch of these right now that are like this

There was one the other day that I that I saw that was kind of in the same same bucket

But there's a bunch of stocks that are down like 95% right now that seem like you know interesting takeover targets

And we have a friend who was interested in doing this and so I made a list of like 10

I was like here's 10 that I think you could buy is this friend aggressive

It's an aggressive friend. Got it. I know you okay. I know which front that is how tight is that by the way?

Just to be able to say this is an aggressive friend, and you're like, yeah, I know who it is

Would this friend say to a

Buddling entrepreneur entrepreneur your business is one Google away from me ruining you

Usually don't say things to their to their faces like that they they're more just like another under like you know

Those sharks that swim only under the water. They don't put the fin out. He's more like that

Got it. Okay, but like wish calm was the it was the other example that that had recently seen that was like this

Which is wish, you know pretty big brand name because they spent billions of dollars marketing this thing

10 billion dollar market cap at one point now

360 million so 10 billion to 360 million has seven seven hundred million in cash with no liabilities

You know, I don't think I don't know exactly how you can buy these things

I think that's the the challenge is like to actually acquire the majority in doing so you would push the price up because people would know

What you're doing. So I think you'd have to make like a tender offer at a specific price

That's like, you know, what I whatever some something above but you know, the board will just reject it

They'll say we have more cash than that on the balance sheet. So we don't need to sell at this price

So I don't know exactly mechanically how somebody does this. I don't know if this is like, you know

Fantasy math where you're like, dude, what if Shaq was in the you know the hundred meter race?

You could just knock people over. It's like, dude, that's not it doesn't make sense

It's not how things work in the real world. So, you know, this idea of like public company takeovers is not something that I understand

Is that like a drug and conversation you've had which is can Shaq when the hundred meter dash, you know

The one thing about this podcast is the number of on-the-fly analogies you have to create

It just really brings it's a that's a different skill

That's a different muscle and yeah, the muscles not not so strong yet. I'm still working on it

So anyway layered superfood interesting company that I was that I was iron layered

Maybe a little less hot in my book now

Cuz this company is worth only 8 million. That's a buzz at 300

Now he's just a really hot fit guy before he was hot fit and rich. So

He lost the third leg of the stool

Yeah, he's still famous and famous Trump's wealth in most cases and in most people's eyes, but

Anyway, all right. Well, let me tell you about somebody who is rich and

somebody who is famous

But he's not hot

Are you familiar with Dave Ramsey?

Yeah, yeah, yeah very tell me what you know about Dave Ramsey and I'm gonna fill in some gaps for you

So Dave he's like a fight personal finance guru. He's based out of Franklin, Tennessee

He's in his 70s probably now. We started as a radio host where it was just like Dave Ramsey like

Show and then he parlayed that into like the Dave Ramsey network

so now he has like four or five hundred employees based out of Franklin, Tennessee and they do like

400 or 500 million a year and revenue where they sell like personal finance stuff

I think he's pretty controversial because a lot of his like rules his lot of his personal finance rules are based in like biblical like rules

He also believes in like zero debt and he's pretty conservative. So people who aren't conservative aren't into him

Okay, well you do a lot more than I would have guessed. I guess the segment's over. He's like Franklin, Tennessee. How do you know this stuff? What's going on here?

He also bought all of his buildings without any debt. So he owns like a campus in Franklin, Tennessee. Yeah. Yeah

So I didn't know all of this. I don't know. Well, you know, he spitted my food, but all right. I'm still hungry. So let's go

So Dave, he's 62 years old. He was a realtor turned radio host and yeah, he's from Tennessee

So basically what happened is by his mid 20s. So this is like back in the 80s

So back in the day, you didn't know who Dolly Parton was and she's also a Tennessee person. So like yeah, I guess lesson learned

I'm not coming at you with any Tennessee trivia

So by his mid 20s, he's got like a four million dollar property portfolio real estate portfolio

And it's kicking off some cash, maybe like 5% a year cash on cash return

So he's making 250k a year off his real estate portfolio at that stage at this time 1988

So the you know, the year I'm born his bank basically revokes his line of credit and

Demands that he pays it back and he couldn't sell fast enough. So he gets foreclosed on and declares bankruptcy

This is like the trauma of why he's like, don't know debt. No debt. He's like debt bad debt bad

Why because I burned my hand on the debt stove before this and so he's like

He's got no money now. He's you know, his marriage is on the rocks

He says he's committed, you know considering committing suicide, but you know, he gets back on his feet

So this is kind of like his story. So anyways fast forward to today

Dave's back and Dave's back in a big way in a big way. Here's some things that Davis said

He says he has a six hundred million dollar real estate portfolio that is fully paid off

So six hundred million dollars of real estate equity that he that he owns. That's kind of insane his media empire

Which is like, you know, the combination of his radio shows and then all of the financial

Courses training seminars all that stuff that they do outside of that

He says on their website makes 300 million a year in revenue. I believe it which is absurd

You don't know any people that go to that. What's that? No, I mean anybody that goes so dude in the south

It's a thing. So I had Texas employees and like if you're just like a normal couple where each employee makes or each wife

And husband makes like six years 70 grand a year

You'll like pay to go to like a Dave Ramsey like he trains these financial advisors and they host seminars and you'll go to this like

five-day

Weeknights thing where it's like instead of Bible study. It's like we teach you how to like save and like

Invest like yeah, it's like Jesus on the front and a P&L on the back

It's like this new remixed Bible. I love it. And so he's

Company Ramsey solutions is just absolute juggernaut. It's insane. So it's okay. Let's break down now the media side

so he launches this thing in 1992 and

Basically, he's done content for 30 years about the same seven steps

It's like this guy's just been talking about this same thing. I don't know who he feels like hours

I've never listened to it to like a full thing, but I don't know. He's feels like four hours a day of radio

It's a good show. Just saying the same thing every time like well you got debt pay that off, right?

So he's got these seven tenants. So here's this ten seven tenants

All right, number one you establish an emergency fund of a thousand dollars. That's your first baby step to financial freedom and

Jesus bliss

Second one you want to pay off all your non-housing debts ASAP starting with the smallest one so that he calls this a snowball

So don't pay off like the highest rate interest. Just pay off the smallest thing you can just to get momentum

All right, I like that then you increase your emergency fund to three to six months of income

Then you put 15% into a 401k or IRA

Then you start your five five, you know five twenty nine plans or whatever like the college funds

You pay off your mortgage and then you now you're fully paid off. You got your you got your safety net now

You start to build wealth and so?

That's his life. Those are his seven steps his company Ramsey solutions is a

Biblically based common-sense financial education media company. That's crazy. I'm gonna lie. That's a bar

Hey YouTube editor play that clip of like, you know, Jay-Z the first time he hears like the intro to like, you know

The Timberlain Timlin's playing him a beat. He's like

The Biblically based common-sense financial education media company, so that's amazing

Then he's got you said you talked about this like a nat that is Tennessee like Empire

He's got he's got a thousand employees working there. He owns all the real estate

So he's got he owns. I don't know this is correct dude. He owns a lot

He owns a lot he owns two office towers

He's got basically like, you know a 50,000 square foot event center

He's got 60 acres of just like property land that he bought for $10 million so owns a bunch of land uses that land to run

His common-sense Biblical financial empire out in Tennessee

He's doing his show for three hours a day five days a week people call in and they're basically like all right Dave

You know long-time listener first-time caller and you know, there's part of it. That's the sort of like my first million

I actually think we should steal his stick which is he goes. Yeah, they'll call and they'll be like

I'm worth four million dollars and be like, how old are you? I'm like, I'm 32 years old

It'd be like fantastic 34 minutes

He's writing notes this whole time and then he'll be like how much debt and they're like I got my mortgage

You know $800,000 and you could just hear him like

Just hit some with a little a little tisk

I mean, you know

It's like dad's disappointed in me and then he'll be like, you know, I'm making this much a year

I put this much away and blah blah blah and then he gives him financial advice

Which is kind of the same at financial advice every single time, but somehow people like get really into this this thing

And then the other things he does which are just these hilarious segments that he has so he's got

Everyday millionaires so somebody calls in he interviews somebody that's that's worth a million dollars

But then he has and this is good

The debt-free scream

Have you seen this before?

Well, I used to think that it was like the equivalent of ringing a bell like there

Yeah, he had like a he had a thing where people would call him be like I finally paid off my debt and they like celebrate it

They celebrate it with the debt-free scream. I

Think there's things we could learn from this guy. I think we should steal some of this guy's shtick and

So he's really got something going here. Anyway, so you wait you've never heard of him. No, no, I've heard of him

I didn't realize how rich he was. I just thought he was like someone's dad that gives basic financial advice because he's got the

Dad vibe. He's got the vibe of someone who calls diabetes

He's diabetes like that's it. You know what I mean? Like like the thing above your head is definitely a rough to him

Not a roof. He's got that type of

100% on the diabetes thing

I need to now laugh for 30 minutes. I don't want to do the rest of the fight. That's that's his vibe

He's a little judgmental too, and he's like this is the only way. Yeah, he's opinionated. I mean, he's dr. Phil for money

He's exactly, you know, he's got his thing which is like this is how you do things and he's like a guy with a big belly

Who wears suspenders vibe, you know?

That type of vibe so he's not wrong. It's just sometimes his energy. I think is a little bit judgmental. Yeah. Yeah, exactly

Yeah, exactly. Okay. I was gonna make a bunch of jokes about his look

But I decided turn the other cheek or whatever he would want me to do

So his show is like nationally syndicated on radio, which I think is like the hack

So 20 million people a week apparently listen to this. I don't know how they it's huge but like when I used to drive

I would listen to it all the time

Yeah, of course you did of course you're his target market

So, you know, he's basically carried by like 600 radio affiliates. I think that's amazing

So he's got his books. He's got 23 best-selling books. I don't know what that even means. That's like there

That's there. I think that means that's their personality

So he's got like his daughter does it now and he's got these other people like Ken and dr.

John and like all these other people that he's created as other other kind of personalities or brands and they're called the Ramsey

personalities, so he's got them in anyways

Live-speaking courses, they got an app. They have, you know, all kinds of stuff. It's kind of crazy

So let me give you some of his some of his tweets. I want some of his tweets or quotes

I want you to react to them with a hallelujah or a no brother not for me. All right, so first one

If you're working and paying off debt, the only time you should see the inside of a restaurant is if you're working there

Yeah, hallelujah

I'll give you that. I have part of hallelujah

That's fine

If you come to work late and they're paying you you're stealing don't steal and expect to be promoted

Hallelujah. I'm a capitalist pig. There's nothing socialist about me. I'd put my rep my receptionist on straight commission if I could figure out a way

100% hallelujah

Now you're talking about my style. All right, here we go

If somebody calls in and they got more debt than their annual income, he'll say that's a small shovel in a big hole

Love that

Okay, then he also says quotes

He quotes the proverbs 22 seven and states the rich rule over the poor and the borrower is a slave to the lender

No, I think that that's wrong

I think that you can use debt like effectively to help you sure carries a gun the guys guys guys awesome guys awesome

And I did not carries a gun

carries a gun carries a

45 with hollow point bullets according to himself. You know what a 45 is that's a pretty big round. Yeah, that's the biggest round

I know of

That's a big that's a big round. Yeah, so anyways

Fascinating guy in his 60s that like I could not believe his empire generates this much cash

300 million a year is a is a pretty absurd number for this dude and he's been doing that for decades

He just shows you how big the Tony Robbins empire must be like Tony Robbins says this thing during his things

He goes my business is bringing over five hundred million dollars a year

But I didn't know what that means because like it's like when a ad agency guys like I've spent over a hundred million dollars

You know 100 we've generated over a hundred million dollars in revenue. It's like no, dude

You took the company gave you a budget you push spend yet the average normal rate

And you've done this for ten years and you added up their total revenue number like that

That's not you or like, you know, a lot of people will say they own a hundred million dollars of real estate with and like, okay

Cool, you know, so what's your equity in that and they're like, well, it's 80% bank loan

So the bank owns 80% of it and then of the 20% down I syndicated that out

And so I got a 3% broker commission on it and I own 2% of the of the property

It's like, okay, let's be a little more real about it. So to me it was pretty stunning to hear that he's got a

$600 million fully paid off real estate portfolio and a 300 million dollar your business empire if those numbers are to be believed

I could also see this being totally full of shit, by the way. No, no, no, no, no, no, no

It's not full of shit. It's definitely not full of shit

I don't have any way to verify it up

But like I know his reach and I know that that is like very attainable to God

Dude, did you just read a book on the words Christian say?

No dude, it's the flooding

I just have a little special something in me today

Either I'm gonna get canceled or I'm gonna get a good laugh out of you and that is worth the risk to me

Have you been south of the Mason-Dixon line, man? Have you like been in the Midwest?

What is the Mason-Dixon line?

Apparently not. You went to Duke, but Duke's not really the south

Yeah, I don't think my skin color is allowed south of the Mason-Dixon line. I don't know what that is

Have you hung out in like Tennessee, Missouri, Kansas, Alabama?

You've never hung out in the new places, have you?

Hung out. Is there something to do there?

Have you ever even been?

I drove through, but I came to California. I had to step through the mud of the Midwest to get here

Dude, you gotta go, man. You're so out of touch

I was born in Paso, Oklahoma. I'll joke aside, so you know

I got my southern street cred

Dude, that's like

My southern bird certificate

Just because you've been to the airport, don't mean you've been there

That's like, with this type of thing

You gotta get out, man

Even just go to, like, this sounds very absolute

Get out is right. If you're in Tennessee, you do gotta get out

Dude, my thoughts exactly

Just go, drive an hour and a half north and go to a Walmart and just chill

and just watch what people purchase

You gotta get out of your little San Francisco bubble, my man

You gotta get out and see, like, there's 350 million people in America

Dude, I gotta tell you a funny story

Yesterday, I went to go, I left my house for a meeting

So I go meet somebody very interesting

I might tell you about this later in the pod

So I go meet somebody very interesting

And I'm deciding if I want to save it to do a bigger thing

Or he's gonna come on as a guest, or maybe I'll tell you about it

I haven't decided yet

Do I know them?

No, I don't think, because they're not in your world

Like, you know about Dolly Parton, you don't know about, like, you know, the NBA

So it's like a different, different

Yeah, another big baseball guy

So my wife and kids came with me, it was kind of a long drive

I was like, oh, why don't we all drive down there together, you know, nannies out sick

Just drive down together, we'll go to McDonald's afterwards

My kids love, like, getting a Happy Meal toy

So it's like, we'll do that, there's none around us, we'll go out there

So we go to this McDonald's, kind of out, you know, I've driven an hour away

We're going to this McDonald's out there

And so I'm, like, waiting in what I think is the line

But you know McDonald's is kind of ambiguous with the line

There's not, like, they don't have, like, the airport

Order at the checkout, or you have the self-checkout, too

No, there's, like, self-checkouts, like, to the left and to the right

And then there's, like, the cashier in the front

And there's some people just waiting for their order

You don't know if they're in line or not

Like, you don't know what's going on

And so there's a guy in front of me and the cashier's just, like, waiting

And I was like, I was like, oh, you can go, she's ready

And then the cashier just goes, he doesn't have money

And I, like, peek my head in front of him

Like, oh, yeah, sure enough, he's getting that money

And I was like, I thought it was such a funny thing

For the lady to say, now he doesn't have money

Like, that's so funny to me, like, so outrageous of a comment

Like, why did she have to say it like that?

But it was, like, the most direct line for the answer

Like, not like, no, you can go ahead

He's not, he's not ready, or he's not ordering

He doesn't have money?

Wow, judging the book by its cover

And he didn't even print, he just kept standing there

Just hoping that he could, I don't know, take someone's food

That didn't show up or something, I don't know, what are you doing?

I was in the bathroom at the airport recently

And there was, like, a line for the urinal

But there was also, like, a line for the stalls

And the guy walks out to me and he looks at the stall

And he looks at me and he goes

Because you wait to poop

I was like

I was trying to laugh

Yeah dude, people say the word is shit, man

And then you have to answer, too, right?

Like, you can't not answer at that point

You're like, why am I playing into this?

It was just a dead face, it's just looking at it and it goes

You wait to poop

And I was like a 12 year old, I don't know why

I thought that was so funny

Oh my god, I have another business

You want to talk about business or no?

Yeah, yeah, yeah, of course

We're idiots

By the way, this whole, if you're not watching on YouTube

You're missing half of it

Is Sam's wearing a Harvard sweatshirt

While we tell these stories

We just talked about someone illegal whiskey

Wait to poop

You made a bunch of jokes about the South

This is so stupid

By the way, if you're listening in Austin

We're doing an event

Well actually, we're doing two events, I think

The second one's not confirmed

The second one is Sean and I doing a live pod

Late April, we're going to have more on that, right?

Bro, that's confirmed, we're doing it

We just don't know the venue yet

We don't know the venue yet

We need to know, is it going to be 300 people

A thousand people or 3,000 people

That's kind of the only thing that we're missing here

How many of you will show up to this live show in Austin

Where we can, we're going to put on a little show

We're going to meet and greet, have some fun

Maybe do a little private dinner with some people afterwards

So I think we should, we're going to do that end of April

Where do they go to sign up for that?

We'll put the link in the description here

Yeah, and then go to, what's our website called?

Mfmpod.com

Mfmpod.com, which is like my first million

Pod.com

And then we're doing another one

This one is not a we, this is a me

Sean's not coming to this one

It's just a casual hangout session

We're doing that Wednesday, March 15

It's free, you can just show up

And we're just going to hang out

And you can find that also on Mfmpod.com

Or by the time this episode airs

I will have tweeted it

So you can go to my Twitter handle

That'll say I'm part and see it

Sam, I'm in a great mood

Can I tell you why?

Yes

I did something that I forgot

Is an amazing tactic and technique

So I'm going to say it out loud here

So other people could do it

But also it's a reminder to myself to do it

Have you ever heard of something called flooding?

No, is that when you text someone a lot of

No, I have no idea

It could be a lot of things

Don't urban dictionary, it's probably something weird

But here's how I learned about it

Tony Robbins talked about this thing

So he goes, somebody asked him to go

What's a marriage advice

Or a thing you do in your marriage

That makes it better

And he basically had two stories

That I really loved

I'll skip the first one for now

I've told it, I teach it in my course

But I'll skip that one for now

The second one that he had said was

He goes, about once a month

We'll do something called flooding

Which is basically us

We sit down on the couch

Like we're about to watch Netflix or something else

But instead of just mindlessly

Vegging out to some TV

We watch videos or photos

Of some part of our past

Some era of our past

So maybe like this vacation that we went on

Or our wedding or whatever

And you basically, you'll get this flood of memories

And emotion that are linked

And anchored to those moments

But most people don't like

Revisit it in a kind of like

An intentional way like this

And I do this in two ways

One, I'll do it with like life photos

Or memories

The second one is

And this is the one I did before this

Which is why

Like a blog post or something

I will pull up a bunch of videos

That were really funny to me

Back in like the day

Back in college

Like back when YouTube was like the new shit

E-bomb world

And like, you know, things would go viral

But it was like, yeah, E-bomb world

Like things would go viral

And like everybody knew about that video

You know, whatever

Like Charlie bit my finger or whatever

But there's this set of videos

That were so funny to me

And they're not even that funny

Now that I go back and look

It's kind of like an old movie

Where you're like, dang it

This movie doesn't hold up

It doesn't have the same juice

Like things are much funnier now

Like the average TikTok is funnier

Than the best videos back in like 2006

Which videos did you look at?

Yeah, this is gonna sound dumb

But have you ever seen this video?

You know, 12 year old boy disclaimer

Here we go

I've seen this video of this cop

Pulling over this guy

And he's got his hands above his head

It's like this

Yep, yep, yep

Yep, yep

And he goes

He's patting him down

And he goes

He goes, alright

Let me just check the pockets

Hold on, here we go

What's this?

And the guy goes

That's my penis

And he goes

That's your penis

And then he continues on

And this video cracks me up

Just the way he goes

That's my penis

And so there's that video

But then there's just a whole bunch of these

That were like

Just goofy videos

Like a lot of them were like

You know, the news anchors

Interviewing some

Like that kid who like

I like Turtles kid

Or like the Grape Stomp video

Or like whatever

This is a whole bunch of these

And I watched like six of them

And they just cracked me up

In this like

It's like a simpler time

But I didn't have it

The evolution of dance

The wife and the mortgage

And I didn't have it

You know, it's just

Literally that was like

Those videos were

Just took me back

They just teleported me

And so

How do they recommend this

This idea of flooding

You probably have done

Some version of this on accident

But like

Make it a practice

It's pretty awesome

And it just puts you

In an amazing mood

So I did it recently

So I'm going to tell a story

That I

You and I were texting about

And I can't reveal

What I was selling

Because it was kind of

Against the law

And I didn't know it at the time

But I tweeted out recently

What was that thing

Statute of limitations

You were way past that

It's been more than ten years

Is that a real law?

Or is that just something

That's definitely a

Is that a figure of speech?

Here's what we'll do

We can mention

I'll say it was alcohol

That's all I will say

It was legal alcohol

That I was selling

That's all I'm going to say

I was like

Anytime you have to specify

It was legal

Probably not a good thing

So

Well

So here's the story

I tweeted out that

I think

It always bothers me

When people collect domain names

That's a pet peeve

Because I'm saying

If you're doing that

You're doing the wrong stuff

Because people will say

I've got this great idea

I'm going to buy a domain name

Or even worse

I'll say

I've got this amazing domain name

I should build something for it

I'm like dude

Don't build something

Just because you have a domain name

So anyway

I tweeted out

I'm like

Just make money first

And just use like a

You know

Store name

Dot

Squarespace dot com

For like the initial

Like hundred bucks in sales

And then go and get the domain name

Like

And someone's like

You can't do that

And I was like

Oh no

I've done it a bunch of times

Like yeah

Well you're doing it

Like there's a website

That's called

WordPress dot com

Right

And I went

And looked at the old stats

And it's getting

5000 views a month still

On a WordPress dot com

Free website

And it's a store

It's a quote

A store

That is a blog post

And a click to PayPal

And basically

What I did was

There was this really

Unique drink

That was sold in Nashville

And for some reason

Only one or two stores

Were carrying it

But this particular type

Was popular across the country

And I thought

Well I should set up

An online store

To sell this stuff

And I did

And I made friends

With the person

Selling it

The liquor store

Whatever

And I go

Hey I'm gonna sell this

For 3x the markup

But I'll buy a bunch

Of it from you

So whatever

And I did it

And I didn't

I'm an idiot

I didn't realize

Like as this thing

Was growing

I was making

Like a lot of money

And I went

And told the legal team

At my college

Like

Oh you're breaking the law

Like you can't

You can't sell this

Without like a liquor license

I was like

But it's like a collect

Basically this

Thing that I was selling

It was a very rare whiskey

That was in a very

Particular type of bottle

That was like a collector's item

And I thought

Like it was just like

A collector's item

I don't even know

If people are gonna drink this

Thing

So anyway

It was making like

A thousand dollars a day

Sometimes

And I looked at the old blog post

That I was selling this

And it was hilarious

And it reminded me

Like

Of a simpler time

And life was good

And I was building motorcycles

In my living room

And it was working out well

So I was like

I was building motorcycles

In my living room

Sleeping on the floor

And selling their

Collector's whiskey

Illegally on the internet

It was a simpler time

You know

The American dream

The American dream

I was one of those kids

That had

You probably had this too

I didn't have beer

Like you remember those college kids

That would have like beer

Cases

The cardboard on their walls

Yeah

I wasn't that bad

But I did have an American flag

I definitely had the American flag

So I was pretty trashy

But yeah

So I was looking at my old

Like blog

That I used to do

And I couldn't even remember the password

And so I flooded myself a little

I'm just flooding my pants today

It's great

Alright

I have something for you

So there's this company

That's for sale

That I came across

So check it out

Go to chambers.com

Chambers?

Okay

Yeah

Like Harry Potter stuff

Chambers

Chambers and partners

Is that it?

Yeah

Okay

Okay

Dude

Check this out

I'll describe what I see

It says

Discover the best law firms and lawyers

And then there's like a search bar

Where you can type in a firm

A lawyer or a legal network

So this

Yeah

So I'll explain what they do

So basically what they do is

I think they're mostly in Europe

But they are in America as well

Is

They put out these rankings

Once a month

Or once a quarter

Something like that

And they go

And they interview

Lots of

Employees who do this

200 employees who go out

And interview different lawyers

They talk to your past clients

And they try to like

See which cases you're winning

And it's all done manually

Like there's not like

A lot of like tech behind it

And then they

Create these rankings

For like

Best legal

Firm or whatever like that

Or like

You know

A good firm for this

A good firm for that

Like different niches

And then they put out these rankings

And if you're

A lawyer

You can pay money

And get like a plaque

They'll send you a plaque

And then also

They'll allow you to use

Their like

Thing in the

In the

Like when you send an email

It could be like

Voted a top lawyer

By chambers

And you could do

And you could do all that

Dude, this company

They do 44 million euros

Or yes

Or sorry

44 million pounds

So what's that in real

Real money

That's like

60 million in revenue

And then

18 million in profit

And they're selling right now

For close to

500 million dollars

It's a crazy company

You saw this like

For sale somewhere

They're gonna trade magazine

For media companies

That I follow

It's like a small thing

Called flash and flames

Because this

That website

They cover like

B2B media stuff

Because I'm like

Been obsessed with B2B

Data business

What's the name of the

B2B media thing?

Flashandflames.com

I love it

It's like my favorite site

I didn't even want to tell

People about it

I like how you tried

To just mutter it

That's when you know

It's a good one

It's a good one

Like I'm a paying

Subscriber to it

Which is like ridiculous

But dude

These lawyers pay

And they said they have

Like no churn

They're like we have

We know insurance

From us

Because these lawyers

Wanted for so much

These lawyers want it

For so much

And I am interested in this

And I found like

Eight or nine other businesses

They call them like

Data businesses

Or databases

Or intelligence businesses

And they're not really

Much tech

But right now

A lot of them are selling

For eight to ten times

Revenue

And I found ten examples

Of companies that have sold

In the eight to ten times

Revenue range

For one of these

Data businesses

Which is ridiculous

It's crazy

And this sounds like a scheme

Because what they do is

They rank you

And then they go hey

If you want like

To make like a special

Profile on our website

We'll do that

And it's forty five hundred

Dollars a year

And what we'll do is

Like once ranked

You could purchase this

One pager

Where you get a profile

On our site

It's almost like

A Wikipedia page

Where they like

One of their journals

Just writes like two paragraphs

And it says like

This legal firm is known

For X, Y, and Z

And then you could put that

If you're a lawyer

And people can click

And see whatever

It's crazy man

This is a caper

They're pulling it off

And I love stuff like this

You know it's like

JD Power

We talked about

You know how you know

They're smart

Because their logo

Is like

It looks like a medallion

Like it looks like a special

Emblem or award

Like it's a C

With this like

I don't know what you call these

But like the pedals

Going around it

Put this on the YouTube channel

So people can see it

But like

A reef

It's like a reef around it

That just looks like

You know

What the Olympics

And Athens

Would award their

The top performers

Right

So like you

They're really playing into

The whole thing with their brand

So I think that's pretty cool

I have a business that's sort of like this

And their name is

Partners

I'm gonna create like

Something like this

Do you know

Partners

Man-A's and partners

You know

We'll just do something

For the people

You know

We rank best condiments

Man-A's and partners

I gotta figure this out

We can put this on the logo

But I love these

Rating businesses

What's the one you have

So I was

Have you ever done like

Like trademark search yourself

No

What's that

Like when you start a business

And you wanna look up

Is this a good name

What do you do

Do you pay a lawyer and say

Hey could you just tell me

If this trademark's available

Do you do that later

Once you get going

I do that later

Once I get going

Is there

An importance to having a trademark

Yeah

It's very hard to sell a company

Without a trademark

Did you sell the hustle

Without a trademark

I didn't have a trademark

Yeah

Typically

It's very hard to get acquired

Without owning your name

For giant liability

So for example

Like if somebody else owns the trademark

And you get six years in

You're gonna have to change your name

Because the more valuable you get

The bigger your exposure is

For them to say

I own the trademark

You have to change your name

But maybe my name

I mean it was called the hustle

Maybe it was too broad of a name

You know what I mean

Well I don't know

There's probably some troll out there

Who's been like

Hey hang on

Let me go get this guy

Dude I'm past the reps and warranty

Like the escrow has been paid out

So

There's a great

There's a great story

I think the early episode

Where Moise came on

And told the native story

So it's like

Episode 10

Of this podcast

Moise tells a story about

Like when they tried to sell native

They got in trouble with it

So they go

They have a deal to sell native

And as they're doing the diligence

Or as they're prepping for the diligence

They're like

Shit we don't have the trademark

For native

Native deodorants

And they're like

Okay well let's just get it

And they're like

Well you can't get it

Because somebody else owns it

They're like

What?

Who owns the native deodorant

There's no other native deodorant

Look I have the domain

And I think it was like

Someone in Palo Alto

If I remember the story correctly

I might be butchering a little bit of this

But somebody in Palo Alto

Who was like

Kind of like a patent troll type

That owned the name to it

And owned a bunch of names like this

And they were like

And he's like

Okay I guess I can go buy it off them

Because they're not doing anything with it

Because he goes to them

Tries to buy it for like

Whatever 20K

They're like

No

He's like

Okay you know whatever

200K

No

And like

The guy wanted millions of dollars

For this name

Because he knows

You're gonna change your brand name

For your consumer package

Good

That's like

You can't change Doritos

To be called

You know like

Fluffy's

You know tomorrow

It doesn't work

You lose a lot of value

And so

They were like

Going back and forth

I forgot exactly how he got resolved

I think he ended up buying it

For two million dollars

Or something like that

Or moisted

I think so

Or something else happened

Where they like threatened

They were just like

Alright screw you

We're not gonna do it at all

And the guy

Like

He realized it was like his last itch effort

And like

And they ended up getting it for whatever

Some amount

You know I forgot

I forgot what it was

But they acquired it in the end

But yeah anyway

So I've had this problem

With the business of mine

Which was that

Up for

I'm like you

I'm like

Oh I don't need a fancy domain

I don't need a fancy name

Let me just start the business

And go

And then I start

And it goes

And it gets popular

And I'm like

Okay I should probably like

Incorporate the company

And do like

Payroll

And do like

All these things I should

I should have been doing

Stuff if there wasn't

Like a real business here

And so

Then you try to go back

And some things are easier

Than others to correct

Going backwards

One of the things that's hard to correct

Is if you

Chose a name that wasn't right

You know you have a problem

And so with one of my businesses

I had done the actual search myself

I should have just

Paid a lawyer to do it

But I went on the USPTO search website

Which I don't know if you've ever gone there

It's like you know

Imagine like a government

It's like a DMV website

And so you go there

You try to search

And I search for our brand name

And nothing came up

But it turns out

There's like a fancier way to search

Where it's like

Yeah, that brand name

Or like

With an S at the end

Or like with associated other words

That would make it too close

And I didn't know that

And so

I remember being so frustrated

With this interface

And I was like

Somebody should make a

Cause this is a

It's a public database

It's like somebody should

Just make a more

Consumer friendly layer on top

And then I found a business

That does this

And I got in touch with the guy

Who does this

There's a business called

Trademarkia.com

So it's like Trademark with IA

So Trademarkia.com

If you go to it

All of a sudden it's like

Like if you just compare

Side by side

Like in the YouTube channel

You should do this

Like take USPTO

And try to find even

Where do you go

Search for trademarks

And then like how that looks

Versus this

Where it just says

Search 11 million trademarks for free

Search your thing

Example, Mickey Mouse

And it's like

You could just type in

Your brand name

So like if I typed in

You know

The hustle

I'm gonna search for this

And it's gonna tell me

What trademarks exist for this

Who owns them

This company kills it

What categories are there

Okay so HubSpot

HubSpot owns it now

So it says

The hustle

HubSpot owns it

It's pending

And it was filed

December 3rd, 2022

When did you sell?

December 3rd

When did that?

Two years ago?

What would that be?

21?

Yeah

Okay so

Wow so they

Yeah I didn't own it

They also

It also looks like

You abandoned one

In 2020

So you know

Somebody did something

I tried

On your team

Maybe tried

It tells you what class it's in

Etc, etc

So it's a great

Great little thing

And you can search for

Like associated names

Or whatever

It's a great website

And so I re-stopped the guy

Who owns it

I was like

Dude this is a

And so I said

Trademark is a great idea

Brilliant interface

You know

You know

Props to you

So the guy lives in the

Bay Area

Actually he goes

Yeah it's a really cool

Website

You know we have

5 million in AOR

And I can't

You know we never raised

VC 5 million in AOR

It was kind of declining

The company removed

The subscription

I got big plans now

You know I want to

Talk to you about it

And you know

He's going to try

To make this like

He wants to go for like

The billion dollar outcome

And I was like

Dude I think you have

A 5 million dollar cash cow

That you could probably

Get to like

8 or 9

With just like

Some simple tweaks

And like you know

Chill

Like that sounds awesome

But I thought

This is a really cool

Website

Again it's just a simple

Like these businesses

Are everywhere man

These businesses are hidden

In plain sight

And they have a wrapper on top

Versus what you were talking

About with chambers is

They created their own data set

And then they owned

That proprietary data

It's called

You know who was it

A non from CBM sites was on

And he was like

No we just like taken public

Data that's messy

And we just make it a little

A little bit easier to

Yeah we just make it clean

By the way

My first million is owned

By Advanced Magazine Publishers

Which is a big company in New York

And it's a entertainment services

Namely an online non-dial

Notable video series

Featuring star athletes

Explaining their life as millionaires

I guess that's that GQ thing

Which I search

Or where I see

When I search on YouTube

But anyway

Badass

I love this company

You wanna

I'm gonna go trademark this

Before this episode comes out

Because now somebody's

Gonna go squat on this

And a funny story

About native deodorant

I've always remembered this story

I never parted it up to you

So the Hustle's office

And Twitch's office

Was just a block

Or like 50 yards from each other

So if you know

There's like Kearney

Or whatever you were

And then you were the left

If you go to the right

There was a little cafe

That was lovely

That I really liked

So native deodorant

They sell deodorant

It was sold for 100 million dollars

In cash

And it probably does

Hundreds of millions now

And it has like

A really cute branding

They make shampoo

They make everything

And I remember walking by

This lovely cafe

And I thought

Huh

This cafe's called Native 2

And their logo looks

Just like native deodorant

And I realized that

Moise worked nearby

And so

I put kind of two and two together

So if you Google

Native Co SF

You'll see a little cafe

You'll see their Yelp page

They've changed their logo to green

But it used to be yellow

Or sorry, it used to be blue

The exact same as native deodorant

And so I have a feeling

That he was just thinking of

Like good branding

I've walked by this

And I was like

This is

I remember thinking

Dude, Moise

They're ripping off your brand

Are you doing it?

Exactly

And now it's realized the obvious

He was like

Alright, I need a name

Looked out the window

Saw it

I was like

That's my name and my logo now

That's mine

If you go to this

If you look up

Native Co

The spacing is exactly the same

It's exactly the same

And it used to be blue

It looks like they're

It looks like they're in COVID

The exact like Nivea blue

It was the same

White background

With the same blue

And now it's green

It looks like they closed in COVID

And they moved to a new location

But that old location that we were at

It was the same logo

And it was called Native Co

And I think Native Deodorant was

The domain was also Native Co for him

Yes, it was

It was the exact same thing

And so he must have been

Just walking down the street

And he goes like

Yup, that's me

That's mine now

You know, it's just like

There's that meme on the internet

I made this

Of like a stick figure

Handing an item to another stick figure

Saying hey, I made this

And the second stick figure

Looks at it and goes

I made this

That's basically what just happened

And I don't think I've ever like

Said this to him

But I would love to hear what his rebuttal is

But he 100% stole

The entire branding

The name, everything from this company

I don't know if stealing is the right word

But kinda

I mean, that one looks like stealing

It looks like he actually went

Took a screwdriver

Took their sign off their office

Moved it across the street

And put it on his office

It's the exact logo

I remember seeing that for years

And being like, huh

And I just never like

Put two and two together

I didn't realize he worked there

But I was like, wow

They're really ripping off his branding

No, that cafe has been there for years

I remember walking by it for years

Shut down

I mean, this is like everything that's wrong in society

He sells his business for $100 million

Poor cafe

Shuts down

Sadly during COVID

During the pandemic

This is the way the world is going

Dude, have you seen people ripping us off?

I don't know if you've seen this, but

No

But that's cool

Watch what happens

In the next two weeks

You're going to see Twitter threads

LinkedIn

Short videos on TikTok

Other podcasts

Talking about the exact same stories

That we tell here

There's like this group of ten people

That just take our content

And then they just say the exact same thing

And they just tell that exact same story

They're probably better than us, too

Dude, Dave Ramsey

How Dave Ramsey built a $600 million empire

Animation

This, that

And they're just going to like

Literally steal our schnick

It's kind of annoying

I get it

Michael from our future

Has done it a few times

Yeah, they do

He's one of the ten

That does this all the time

Who are the other nine?

I mean, I don't even really want to give them

Shine of doing that

Yeah, this is

Literally, if you're one of those people

Just, you know

Have your own silent embarrassment

There's nothing wrong with sort of like

Taking ideas and remixing them

But what most people do

Is they just take the same idea

They just tell the same story

The same way that we already told it

In their own Twitter thread

Or their own LinkedIn

And whatever else

Which is fine

But like, give credit at least

If you're going to say the same thing

Be like, oh, I was listening to my first million

And they told this great story

Check it out, right?

Yeah, that's I think

A slightly better way to do it

But, you know, whatever it is

But this is why

So I have a new project

I'm actually going to announce it

In about a month

Or three weeks

This is why I didn't announce it

I've been working on this

For almost a year now

I didn't want to announce it

Copycats

Everyone talks about building public

I hate building in public

Building in public is not cool

When you're popular

Building in public is really cool

When you want to get popular

Yeah, exactly

But once you already have a following

I don't want to do it

Like the Milk Road

Did you guys have a bunch of copycats?

Yeah, yeah, tons

There's like

There's tons of embarrassing ones

That are out there

There's like

People that literally just took

The same exact newsletter

And they would

Some people would translate it

So they're like, oh, I'm, you know

Leche whatever

And it's like the Mexican Milk Road

And then they would translate it to Spanish

And just like Google Translate

And then publish

There's one

I don't know

If I want to put this guy on blast

But someone who tried to buy

The Milk Road and failed

Yeah, I know you're talking about

Then just tried to copy it

In his own like way

And you could just

The funny thing is

They very rarely work

They don't

And it's like kind of surprising

Why don't they work

I kind of expected them to work

Like for example

When people take our content

And then write a thread about our LinkedIn

Like it does pretty good

Like that kind of works

For them

Otherwise they wouldn't really keep doing it

But the copy

The whole newsletter thing

Like for some reason

That doesn't really work

I'm not sure

I'll explain why

I know why

Do you want to know the

So basically if

For people who have been raised on the internet

They have a very high bullshit detector

And do you want to know

The best way to circumvent

Someone's bullshit detector

Yeah

Don't bullshit

You don't bullshit

Don't bullshit

That's how you circumvent

That bullshit detector

You don't bullshit

And people can sniff this out

And so if they read something

And it's like

Dude, you're like

Not cool older guy

Trying to act like a cool younger person

I know that this is not good

Like this doesn't work

Yeah, I told you about the

NQR

You need soul

The KFC's in China

Not quite right

And it's like

Dude, it's the same menu

Like this is

The spicy chicken sandwich

And it's like

That's not quite right

And people

It just doesn't taste right

The taste buds reject it

Now

I believe that when it comes to

If I use one product

And then somebody tries to copy it

I'm like

Why would I want the shitty copy

I'm just going to keep going with the original

But in markets where

You're reaching a new audience

Or people who haven't heard of the original

I'm surprised it doesn't work

And I think

My theory of why it doesn't work in those cases

I think you're right

When it's

When people have tasted the original

They don't really want the

Or when it's like

Community

Community brand

Like personality driven

You know, it's that one moat

That Peter Teal doesn't understand

Brand

Yeah

Yeah

Yeah

The one, the Asperger proof

Yeah

Defense

The one Asperger proof

Weapon we have

So, you know

The one thing that I think is

Is true

Which is like this like iceberg theory

Which is like

If you look at an iceberg

Like the part you see at the top

Is like, you know

5% of the total mass

That's there

And so what I think people

Get wrong when they try

To copy a business

Is that they only see the top

The 5%

And they're like

Oh, okay

They don't copy that

But they don't know what goes on underneath

They don't know that basically

The uncopiable thing is the

The people, the personalities

The engine underneath

That's coming up with the creative ideas

That's coming up with

The next marketing thing

Because this one starts to decline

And so I think that's the part

That's typically hard to copy

But honestly

I'm surprised that

More of them don't work

Because if you're sufficiently talented

I think it sadly does work

More often than it doesn't

We should do an episode where we talk about

The things that people have copied

And it's become better than the original

Like there's stories of the

Samware brothers

So it's these three brothers in Germany

And they have a company called

Rocket Internet

And it was a clone factory

And they basically

It was publicly traded until recently

But the reason they started this company

Was they like

Cloned Amazon

And all these other companies

Zappos, Uber, things like that

But before they started a company

Started that company

They cloned other things

And they sold it to the original

So they cloned eBay in Germany

And they sold it back to eBay

For $90 million in

Like three months

And then they were going to do the same thing

With Groupon

But they got bigger than Groupon

And they realized

Oh wow, once you get huge

This business sucks

We got to offload it

And then they tried to do that with Zappos

The shoe company

But they got bigger than the original Zappos

So the market cap was larger

So they couldn't sell it

And this is their whole strategy

It's a very fascinating strategy

So far it's not panned out for them

Other than HelloFresh

They did HelloFresh

And they copied Blue Apron

And HelloFresh worked

Right

Yeah, I think

There's an art to copying

I think we could do a whole podcast about

If you're going to copy

Here's how to do it

Here's how to do it

In a way that feels good to your soul

Feels good to customers

Actually works

And is not just going to

Result in a massive waste of time

And so I think there's a bunch of different factors there

I think one thing the Sam War Brothers did

One of the factors, for example, is

They did the same business in a different country

And so I think, you know, geographic

Geographic differentiation is important

I think that's one that you can

Copy and make things work

When you do geographic difference

But then there's some traps with that too

That we could talk about

Where do you want to finish up?

I think we should

Well, there is one thing that we should do

Yeah, I forgot about that

I'm not sure where of it

I think I'm aware of it

I can't seem to find my pen

That's okay

You don't need a pen

So basically at this time

I thought I had to sign something

You do, but you sign it

But just with a click of a button

So basically at this podcast

My First Million

Our content, unlike every other content on YouTube

It's actually not for free

Right, not a free podcast

It's not a free podcast

Because what you have to do

If you've seen more than one episode

You have to do this thing called

The Gentleman's Agreement

Which is, it's called that

Because we're not there

I'm not behind you to stare at your screen

Honor code

It's an honor code

You have to basically go

And click subscribe on YouTube

Because we'll get more subscribers

That helps the algorithm

We get more views

And then we'll do more dumb stuff for you

So it's called the Gentleman's Agreement

If you've watched more than one video

You have to do this

Everyone's doing it

By the way, I have a

A dendome to the Gentleman's Agreement

Came from a listener

She pointed it out

She goes, not only have I signed

The Gentleman's Agreement

I've signed the lady's understanding

What's the lady's understanding?

You know, there's not many phrases

That will stop me in my tracks

But I always stopped in my tracks

The lady's understanding

I thought that was phenomenal

The lady's understanding

That's actually when you also click

Subscribe on the iTunes

Or the, I always call it iTunes

On the podcast app

And the Spotify app

That's the lady's understanding

Go that extra mile

Go that extra mile

And give us the lady's understanding

Along with the Gentleman's Agreement

Since we started doing this

So two things about the Gentleman's Agreement

Number one

It's funny because

We were talking about copying

You stole the shtick from somebody

And we're trying to get

Did I stole it?

And he called me, by the way

And he was like, isn't that awesome?

It works so good

And invited me to go to a UFC fight

You did it right because

You gave credit to him

You put your own spin on it

And, yeah, you credited him

Most importantly as being like

This guy did this awesome thing

And I was like, wow

I got to try doing this

So, you know, you credited him

And that's cool that you guys are

Going to see a fight together

That's amazing

Now, the second thing is

We have grown a lot

Since we did this

So we started doing this

We were at 100

The first time you did it

I believe we had 145,000 subscribers on YouTube

I think a month ago

Yeah, that was like, yeah

Maybe 45 days ago

Something like that

And now we're at 180,000

And the people who watch the YouTube videos

They know this

In fact, I'm looking at a tweet right now

Which he goes

He goes

He just mentioned us

He goes, watching on YouTube is better than Spotify

Yeah, no shit

I told you this

It is way better to watch the show on YouTube

And in fact, what I think we should do

To really, like, juice the agreement

To add more, you know, see appendix A

Of the gentleman's agreement

I think we should do a piece of content

That is only good when you watch it

So here's my proposal to you, Sam

Shirtless

Yeah, Sam's going to be shirtless

And I'm going to screen share

But I think we should screen share

Us going through, like, a pitch deck

And taking one from average to awesome

Or, like, good to great

And just show how we would tweak the copy

How we would make it look, like, better

And we'll use a real one

And so I think we should do that

And put that only on the YouTube channel

Because it would only make sense to see it

No, I think that

You should log in to chase.com

And show your checking account

Yeah, okay

And it will react

But we won't say the number

That's genius

You know, this is why

You complete me, bro

I gave you a shitty idea

And you gave me the old yes and

We're going to go to chase.com

Or whatever, Bake of America, whatever you use

And you're going to just

We're going to watch you log in

And we're just going to react

And that's it

By the way, the yes and

Is the corniest thing that the startup world

Tried to take from, like, the cool, like, you know

People who are actually funny world

Because, actually, it's a

No, but

Which is what you just did there

No, but we should do this instead

Is a better version of yes and

Improv people are

One step below acapella people

In terms of the nerds

So, like, there's no way we're cool

And improv people

Have you ever been around

Improv persons, like, being around

Someone who does CrossFit

You know, like, just stop talking about it

I can't stand improv people

They're exhausting

It's like a

It's CrossFit for people without muscle

Dude, I...

It's like a

It's like a blind Jack Russell

You know what those are

It's like that dog that's yapping everywhere

And when it's blind

You just can't stop it

It's going all over the place

That's why I feel about an improv person

Yeah, I think you're right

I did improv, so I can confirm

This is correct

And you're correct that it's below acapella

Which is below anything that's actually cool

Yeah, acapella is the worst of the worst

I remember hanging out with people from New England

And they were like, we're bragging about acapella

And I was like, dude, shut up

Why are you talking about that?

You don't want people to know

And they were like...

When acapella people hang out with each other

And they're like ordering

Or they're like waiting for their food at the table

And then one guy's like

And then it's like

Hmm, and then they start harmonizing

And they're like, dude, you got to stop

Like, you know

If I hear the Lion King song one more time

I'm going to put a bullet in my head

That's how I feel when I'm with these people

If I'm ever trapped on a subway

And they do a flash mob around me

And start singing

Those people are above

Flash mob people are above the acapella people

I'm going to do something

I'm going to start vomiting

Just outrageous things in that moment

That's the pot

Machine-generated transcript that may contain inaccuracies.

Episode 428: Shaan Puri (@ShaanVP) and Sam Parr (@TheSamParr) talk about Dave Ramsey's multi-million dollar empire, surfer Laird Hamilton's superfood business, the importance of trademarks, and so much more.
Want to see more MFM? Subscribe to the MFM YouTube channel here.
SHAAN'S NEW DAILY NEWSLETTER --> shaanpuri.com
-----
Links:
* Laird Superfood
* Ramsey Solutions
* MFMpod.com
* Chambers
* Flashes & Flames
* Trademarkia

* Do you love MFM and want to see Sam and Shaan's smiling faces? Subscribe to our Youtube channel.
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Show Notes:
(01:05) - Laird Superfoods
(06:55) - Dave Ramsey
(25:15) - Why Shaan is in a great mood
(29:05) - Why you shouldn't buy domain names
(32:05) - Chambers
(39:50) - Trademarkia
(45:40) - The people ripping off MFM
-----
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.
-----
Additional episodes you might enjoy:
• #224 Rob Dyrdek - How Tracking Every Second of His Life Took Rob Drydek from 0 to $405M in Exits
• #209 Gary Vaynerchuk - Why NFTS Are the Future
• #178 Balaji Srinivasan - Balaji on How to Fix the Media, Cloud Cities & Crypto
* #169 - How One Man Started 5, Billion Dollar Companies, Dan Gilbert's Empire, & Talking With Warren Buffett
• ​​​​#218 - Why You Should Take a Think Week Like Bill Gates
• Dave Portnoy vs The World, Extreme Body Monitoring, The Future of Apparel Retail, "How Much is Anthony Pompliano Worth?", and More
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