My First Million: The New WeWork, How to Make $10M In 3 Months, and More

Hubspot Podcast Network Hubspot Podcast Network 8/18/22 - 1h 1m - PDF Transcript

All right.

Quick break to tell you about another podcast that we're interested in right now.

HubSpot just launched a Shark Tank rewatch podcast called Another Bite.

Every week, the hosts relive the latest and greatest pitches from Shark Tank, from Squatty

Potty to the Mench on a Bench to Ring Doorbell.

And they break down why these pitches were winners or losers.

And each company's go-to-market strategy, branding, pricing, valuation, everything.

Basically all the things you want to know about how to survive the tank and scale your

company on your own.

If you want to give it a listen, you can find Another Bite on whatever podcast app you listen

to, like Apple or Spotify or whatever you're using right now.

All right.

Back to the show.

I've tried 25 things and three have worked and he's, you know, but that's entrepreneurship.

You know, you need three to work out of 25 in a 20-year career and that's, that's like

what winning looks like.

I feel like I can rule the world, I know I could be what I want to, I put my all in it

like no days off on a road, let's travel never looking back.

What up?

What up?

They told us to do intros now of the podcast.

So this is my first million podcast where we tell you a hundred good ideas, half are

good, half are bad, but it's on you to figure out which ones.

This is my first million where I make fun of Sam about how he talks, he makes fun of

me about how I look and in between we squeeze in a few business ideas.

Let's see, what else, what else we got for him?

And supposedly we're supposed to be successful people.

So it's like the reviews people say, they say it's kind of like we're just sitting at

a bar with a bunch of our successful friends.

Dare I say, I hate this word, multi-millionaire friends and just hear what they talk about.

Just a couple of deco millionaires hanging out on the, on the pod.

Can I just say that regardless of the deco millionaire nonsense, I did something a few

weeks ago that I think was amazing.

I bought a $60 tattoo gun on Amazon and I let my wife give me a hand tattoo instead of

wearing a wedding ring.

Oh wow.

Totally worth it.

Let me be the judge.

Can you bring that a little closer here?

What is it?

It's just an X.

Right.

Okay.

It's an X.

It's an infected X, but it's an X.

Like where, where something was there, then it's like dead and now you've put an X there.

That's kind of the, the vibe you're going for or what?

Yeah.

Or, you know, triple X on a moonshine whiskey jug.

Yeah.

Something like that.

And she wanted to do this or you want to do this?

She seems more sensible than you.

So I don't know how'd you talk her into this?

Yeah.

Of course she didn't want to do it.

I just said, Sarah, I bought this tattoo gun, sit down right now or otherwise I'm just

going to do it myself.

Ah, okay.

Threats.

Shame, rage and threats.

Yeah.

Like it literally, I set it up with the two minutes that was done.

I handed her an orange.

I wrote an X on that orange.

Great.

I'll do that on my fist.

People always ask us, what's the secret to being a deco millionaire?

And we tell them, it's threats.

You got to threaten your, your business partners, your marital partners, you've got to threaten

all your partners.

Actually, same.

You, you, you kind of do use this sort of, I wouldn't call it threat, but as they say,

it's always sunny.

It's the implication of danger.

I feel like you, you do use this, the implication of things going wrong.

Am I, am I right about that?

What's an example?

In your management style, you know, you're trying to get the team motivated.

You have two paths.

You could go down.

You could, you could start with Y and tell them why you're so excited about this, why

this is good for them.

Or you could just hit them with a, with a solid threat with the implication of, of, of things

not going so well.

If we don't do X, which way do you go?

I like the second one.

I'm more of a guy.

All right.

Tell me how you are.

If you can make a million dollars or not lose a million dollars, which one are you more

motivated to do?

For me, not lose a million dollars and I think for you, the same, same, absolutely same.

It's not to do something.

So I love setting my life up and I do this all the time with like my wife and stuff.

I'd be like, oh, shit, like I already booked it.

Like we already, we're, we got to do this thing or, you know, I always set stuff up

that if I don't do it, there's consequences.

That's the way to live, man.

And I used to do it with my employees all the time.

And you know what?

They always said they hated it.

And then whenever they leave and quit, eventually they'll say something like, yeah, but I did

so much cool shit and we actually got a lot of stuff done.

So I think people actually like it.

Right.

Yeah.

They tell their therapist as they just spend years recovering from you.

Yeah.

I guess so.

Dude, can we, do you have a bunch of topics?

I got a few.

Yeah.

I got a couple too.

Can I start on one that it's blowing my mind.

And so basically yesterday I went on a long walk and I went and walked around all these

fancy neighborhoods in Brooklyn.

And I started, you know, I do what, what people do.

I pull up Zillow as I'm walking and I'm like, you know, I wonder what it's like to live

here.

And the houses that I like, what I usually will do is I see a house and I go, oh, I

would like to live there.

And I pull it up and it's $8 million and $8 million.

That's one number.

But then you actually look at how much money you need to come up at closing.

And then you look at how much money you need to spend each and every month on the mortgage

and on your interest and on maintenance and things like that.

And I started thinking.

I think I'm going to live over here in Brooklyn.

And I wanted to map out how much money I would expect.

I would spend to live the lifestyle I want to spend.

And it is astronomical.

And I want us to talk about some of those expenses.

Okay.

Walk me through it.

Okay.

So listen to this.

First of all, I'm going to talk about the life that I'm going to live when I move to

Brooklyn and all the listeners, there's going to be a bunch of them that's going to say,

oh, Sam, no one needs an $8 million house.

Yeah, I get it.

You know, like all I need is like a bucket of water and like some ice.

And like some apples and like a pair of crocs and I'm happy.

But this is the life that I choose to live.

So get off my back on this hypothetical case that might be a reality in two years.

So I just got to get that out of the way.

But in terms of hypotheticals, it's not entirely hypothetical because I went and talked to a

couple of friends who do this, but listen to this shit.

So I found a home that I wanted to buy and I actually linked to it on the, the MBD master

doc.

Okay.

So it's a street is on street easy.

It's a nice house.

Okay.

It's 3000 square feet though, but it's a brownstone in my favorite neighborhood of Cobble Hill.

It's $5 million.

I actually think the range of things I want are between five and eight, but this one I

just found it was available.

It's $5 million, which basically means I got to come up with $1.1 million as my down payment.

And then I'm going to spend around $20,000 a month in mortgage and interest and things

like that, not including maintenance, which is going to be more expensive.

It's going to be probably another $2 or $3,000 a month.

And I think it would probably cost on the low end, $50,000 on the middle only end of

$150,000 to furnish it the way I'd like to furnish it.

Right?

Have you ever furnished a house?

Yeah.

Yeah.

It depends.

If you go like my wife, she's like, Oh yeah.

I'm like, what do you like?

She's like restoration hardware.

I'm like, ah, geez.

Like every item in the stores, you know, 5000 to 10,000.

And so, you know, you just add that up per room you're putting in like 20 to 25 grand

worth of stuff per room in the house, which is pretty nuts.

Yeah.

Totally.

So 150K is that's just kind of what it would cost if you want to go that route.

If you want to go West Elm, West Elm, then yeah, you can maybe get it done for 175,000,

but it's quite expensive.

Then if I'm going to get this fat house, I'm getting it because I have two kids or a couple

of kids.

So I need my $40,000, $50,000 a year nanny.

I imagine I would spend around $30,000 a year in food.

And so basically it comes up to where I think I'm spending $600 to $700,000 a year to live

the life I want to live in Brooklyn.

But here's the kicker.

If you're making over a million dollars a year in Brooklyn or for sure in Manhattan,

it's even more than this, half your money goes away to taxes.

So basically if I'm spending around $600,000 a year, I need to make $1.2 million just to

cover my monthly net.

Just to break even.

And I talked to two friends, one friend who lives in Brooklyn.

He told me that he spends around $500,000 a year and then another friend that also lives

nearby and he told me he spends $800,000 a year and he sent me his list, but he goes,

I have an additional house in North Rhode Island, but if you take that vacation home,

we are spending around $650,000 a year.

So to live like this, it's crazy and when you go and walk on these streets, you know,

there's a house every block.

If you go in Manhattan, there's this fancy apartment every block.

How on earth do you think people, so many people afford this?

It's crazy.

Like when you actually think about the logistics, right?

Well, a lot of the people who own these homes, they own them before they were worth $5 million.

So go look at the, you know, the Zillow history of this thing 10 years ago, what was this

home worth?

You know, I'm guessing it's less than, you know, less than half this, maybe 35% of this

price 10 years ago, 30%.

And so you're, what you're talking about here is, you know, a home that they bought in their

basis is a million, a million and a half dollars, something like that instead of five.

So now the monthly payment is less and now the property taxes are less.

And so, you know, you cut out your biggest expense in this case.

You trim that down.

And I think that's, that's the answer for how a lot of people have this is inheritance

or buying in, you know, 20 years ago, 15 years ago, when these were worth a fraction

of what they're worth today.

And so that's why they can afford to kind of live above their weight.

Well, so I had four takeaways when I started thinking about this.

The first was that there's a story behind everything.

So all these people, like a simpleton like me is going to earn this much money and they

did it by starting a business.

It's like, no, that's not the reality.

And Zach Crockett, who works at the hustle, he basically, we were talking about this and

he was going to write a story on this and he said that he researched a bunch of these

homes.

And what he did was he, for all the $5 million brown, or for a bunch of $5 million brown

students at NYC, he used a tool called Melissa and he looked up the property records.

Then he Googled the names of each person who quote, owned it.

And then he like looked at their family records, which he just did this all through just sleuthing

and look at their stuff.

And he found out that a bunch of them, like seven out of 10 of them were like teachers

or artists or, or, or a professor, things that you basically like, you can earn a bunch

of money, but you're not earning enough money to buy this home.

And what he surmised and came to the conclusion was like, they just get a lot of help.

And so it's hard to own a $5 million brown.

So when you're a reporter at the New York Post, there's some like, you know, $120,000

year job.

So I think there's a story behind everything.

The second thing is, I think you just have to earn a lot of money to just listen to this.

If you earn hang on, hang on.

That was a killer insight.

What?

You got to earn a lot of money.

Yeah.

Where'd you come over that?

You got to earn a lot of money.

But listen, let's, let's put the math on this.

How long would it take you to save $10 million if you lived in New York?

To save $10 million?

Yeah.

To get a portfolio of $10 million.

I have no idea.

I don't know.

Let's say 20 years.

Okay.

So if you make $1.5 million and you're spending around $25,000 a month and living expenses,

it's going to take you around 15 years to be able to save $10 million, which is pretty

crazy.

Now, you've got to figure out how to earn at least a million and a half for 10 years

or for 13 years, which is like that in itself is impossible or not impossible.

Very, very, very challenging.

And so the, hold on.

Your first thing was like, these people are teachers and artists and you said they got

to have some help.

You're talking about like family help.

You're not talking about, there's nothing else, right?

You're saying you have rich family.

Yeah.

Yeah.

Yeah.

I underestimated that.

When I think about this, I'm like, whose parents would give them $2 million for a down payment

on a home?

And I think the answer to that is actually a lot.

I can't imagine that, but that was hard for me because, you know, I don't fucking know

that my mom and dad, like the best gift they ever gave me was when I turned 21, they gave

me $1,000.

And that was like the last birthday present I ever got.

I don't even think it's a down payment.

It's okay.

You're a teacher.

Great.

Your down payment is covered.

Where are you coming up with 25K a month of your monthly payment just for your home?

That's not working yet.

And this is an all cash.

Here's your house free and clear.

You get to live here and you cover your life expenses.

If you're paying for a latte, that's you, but I'll buy you this brownstone.

I think that's got to be what it is.

I think that's it.

That has to be what it is.

Or the second thing is you got to earn a lot.

The third thing is I want, how many of them do you think sell a business?

I think earning a lot, like a big nut of $10, $20 million.

It seems like impossible to do without selling an asset.

You got to be in finance, law, maybe medicine or consulting to be pulling in a million dollars

a year of income.

I don't think there are many other jobs that do that.

We're not talking about athletes, entertainers, because it's just such a small portion of

the population, but of jobs that a normal person can get that's going to make you a

million to $2 million a year, I'm pretty sure you got to be either a banker or a consultant

if you're employed, or you got to be self-employed as a doctor or a lawyer or something like

that to be able to pull that in.

Am I missing one?

That's like four jobs that are like...

Yeah, those are non-entrepreneurial jobs.

The other way is you just own a small business.

Yeah, yeah, exactly.

You own a small business, you own a big business, you own a contracting firm, you do construction

around the city, whatever it is.

Those are the other way where you can do this, and that's usually, you're not earning some

steady $1.5 million per year, you're earning nothing, nothing, nothing a lot, a lot huge,

and then back to nothing, that sort of thing.

It's this lumpy curve that an entrepreneur has where you're basically broke till you're

very unbroken.

Yeah, but okay, yeah, what else you got to say about this?

My third and final takeaway here is basically, there's so much out there.

There's so much money out there, there's so much opportunity.

You walk by all these places, and again, Ben's laughing at me, this is obvious, but when you

see it in real life, I walked down the street, and I'm like, oh, that apartment, that costs

$12,000 a month to rent in that top floor of that brown store, stone, and there's three

of those in there.

There's three people each paying $12,000, and there's just like, home, home, home,

home, home, home, home, it's astronomical.

There's just so much money out there to be made, it's just so much opportunity.

So anyway, I did this three hour walk yesterday, and I just, I felt enlightened, and I just

wanted to come to the table and fill you in on that.

So that's why I'm glad you started the show with something unspectacular.

That's why these TikToks that are like, they stop somebody in a fancy car or fancy house,

and they go, hey, I just want to know, what do you do for a living?

And they're like, first of all, is this like a trap?

Are you like an IRS agent?

What is this?

And they're like, I paint houses, or they'll be like, I work in real estate.

I work in the financial services industry.

And it's like, oh, okay, what's going on here?

But I think the reason those are popular is because wealth, for most people, is a complete

mystery.

It is a complete black box, unless you come from wealth.

If you come from wealth and you grow up, and at your, you know, you're going to 15th birthday

parties where Serena Williams is there to play tennis with the other kids, you're like,

what the hell?

You know, this is, everything is just nice.

Everybody goes, we summer in the Hamptons, you have a place where you summer, like summering

is a verb.

And then you, you know, you know that you're, oh my Godfather, you know, he owns like 44

dental practices.

And so you, if you grow up with wealth, you, wealth doesn't seem like this mysterious unattainable

thing.

You, in fact, you realize there's like thousand paths and it's up to you to decide which one

you want.

But for most people, wealth is kind of just this mysterious thing.

You don't even see how wealthy people live.

You don't hear like the numbers you talked about.

I think for a lot of people listening, they're going to be like, what in the hell is Sam

talking about?

Somebody pays $500,000, $800,000 a year of just their living expenses.

Like that sounds like the most money you could make, let alone spend per year.

And so when you're talking about spending more than a person's life savings in a year,

that's I think very foreign to people.

Then you say, okay, well, how do you achieve that?

And now you have maybe one example, two examples.

You don't have 25, 35, 45 examples to choose from.

And so I think that's why those TikTok channels are popular.

I think that's why this podcast is popular because you either react to this type of information

with one of two reactions, bitterness or inspiration.

For most people, it's bitterness.

You hear about other people's success or they're extravagant spending and you get bitter.

You see the difference between what they do and what you do.

And you don't focus on the fact that maybe you want to do it, instead you focus on the

fact that they're wrong, evil, unnecessary, blah, blah, blah, whatever it is.

And how, you know, they only could have got it by sort of cheating the system or some

unfair advantages and you get bitter.

And that's where I would say 90% of people fall into the bitter camp.

But some people, they hear those stories and they take inspiration.

And if you take inspiration, you start to collect each of these anecdotes.

You start to collect each of these data points and you say, oh, I'm taking this foggy map

that I have, this cloudy map where I couldn't really see and I'm just pushing away the fog.

I'm getting clarity on, wow, there's a thousand ways to win.

And wow, winning it can be a lot bigger than I even imagined.

And once you sort of have that in your head.

Once when things become a lot easier, because you start to notice all around you examples

of people building wealth in unique ways and ways that are not always long and hard, ways

that are not always painful or required genius.

You'll start to see examples of somebody who does it by, you know, simply, you know, starting

a mushroom farm in California and yeah, that's what they do.

Or somebody, I remember I met a guy who created the tread that goes on treadmills.

He's like, yeah, we're tread manufacturer.

And these guys would do 15 million a year in sales and was he a marketing genius?

No.

Was he a sales genius?

No.

He just simply was like, oh, there's demand for tread that goes on conveyor belts, treadmills

and the TSA.

How much profit do you think?

I mean, I don't know.

I was like, I was like in fifth grade at the time.

I remember this is my friend's dad.

And I was like, why is Jordan so rich?

And it was like, oh, Jordan's rich because Jordan's dad sells treads on treadmill.

And then we met these other people who are rich and they, I was like, you know, again,

I wasn't even asking the question, but I remember my sister saying something like, yeah, they

have like mushroom farms.

And I remember being like, in my head, farmers don't make like tons of money.

And then I realized pretty quickly how farmers can make a ton of money.

And so, you know, but I was just slowly collecting these antidotes only when I was in my twenties

and I was like, if I want to know how to get rich, then I need to know like a lot more

examples of richness.

And if I want to get rich fast and I need to get examples of people getting rich fast.

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And this is actually a good transition.

We have a friend.

We were just in the group chat.

We have a friend who it seems like might get rich very quickly here.

And let me explain, richer.

They created a product or a service or an app and they, every day they're posting a

chart of like the growth of this thing.

And it's like an early version of a hockey stick.

We went from doing $100 a day, $500 a day, $1,000 a day today, $3,000 a day today is

going to be $9,000 a day.

Pretty quickly, you know, fast forward two weeks, this person's going to put a chart

in there that's going to show them doing $200,000 in revenue just today and it's going to be

nothing has changed.

It's just, they just let the growth carry on.

You see that and you're like, wow, that's the HOV lane.

That's the fast lane where you could just go in and you could win faster.

Geez, I didn't realize that.

I thought I got to bust my ass for 10 years and the reality is this person has been busting

their ass for 10 years, building up the skills so that they can launch a new product and

they can do, let's call it five to 10 million this year in potential profits.

Now this person, if you remember, many months ago, they told us this exact thing, they go,

yeah, I'm just thinking about ideas that can make, I forgot what they said, $10 or $50

million.

I want to make $10 million in a year, $50 million in a year and I was like, okay, yeah, sure.

And I want Jessica Alba to add me on Snapchat right now, but it's not necessarily going

to happen.

You could just say it, but he was like, no, I've been studying.

There's apps that do that in the app store.

And he's like showing us screenshots.

Yeah.

Yeah, just showing us screenshots and examples and it's like, yeah, this does that, yeah.

Now you see 10 of them and all of a sudden, first of all, I never knew somebody who even

stated a goal like that.

So just hearing it for the first time was like, that's interesting.

I knew people that would say, I want to build a huge company, a billion-dollar company.

That was normal.

I'd heard that before.

I'd heard, I want to get a high-paying job, I want to make $500k a year at this company.

I've heard that before.

I had never really heard somebody be like, I'm looking for a way that I can make $10

million in three months.

That was actually the exact thing.

It was, how do I make $10 million in three months?

And so I was like, all right, well, never heard that.

That was new.

Then I thought, well, my brain doesn't come up with any examples of how to do that.

That doesn't involve, you know, putting a ski mask on and walking into a Wells Fargo.

So, you know, and then he gave me 10 examples and so I was like, okay, well, now I got 10

examples.

Number 11 doesn't seem so far-fetched at that point.

And I remember coming to talk to you and being like, dude, have you heard anybody think like

this?

Talk like this?

Come up with ideas like this because I believe that there's great power in questions.

And I'd never really heard somebody ask the question, how do I make $10 million in the

next three months?

And once that question was asked, now my brain has to start coming up with answers.

And at first, my brain was struggling and then as he gave me examples, it started to

get better and better and better and come up with examples of how you might do that.

And now it's literally happening.

Right in front of us.

Peter was actually playing out right in front of us.

What do you think of this?

I think it's awesome.

I think, I think it's still too early.

I think anything that comes fast will go away fast or can go away fast, but he called his

shot and we are seeing on a daily basis whether it's coming, it's coming, it is in fact now

coming into reality.

And I think it's awesome.

I think that there's ways, I think Peter Teal said it where he's like, what's your five-year

goal?

And then someone says their goal and he says, cool, how can you do that in six months?

Well, I usually believe in that.

This guy took it even further, which is what's your five-year goal, do it in three months.

And it's awesome.

And there's another guy who I know that's done this and he's public.

His name is Alan Wong.

Do you have the app on your iPhone that lets you listen to police scanners?

It's like the police scanner app?

No, but I know, I know of these apps.

These apps are weird.

Yeah.

It's like five dash zero radio app.

I think a 50 radio app.

And this guy, Alan Wong, he posted in Reddit in 2013 and he basically said, Hey, I'm Alan

Wong.

I was told to create an AMA here.

I have, I have it up here.

Yeah.

You want to, you want to read it?

Yeah.

He goes, ask me anything.

I'm a person in his twenties who went from rags to riches during the recession.

He goes, how I did it.

I develop apps.

My most popular apps is called the 50 radio police scanner.

It lets you listen to police chatter around the world.

You've probably seen this used in the latest Spider-Man movie, although they rebranded it.

And as of 2012, my apps have been downloaded by 20 million people.

By the way, this is 10 years ago he wrote this.

So he did this in the 2008, 2009, 2010 type of like recession.

So I have an update on it that I can give you in a second.

So, so he goes, my parents were raised in the slums of China.

They fled here with my brother to New York.

My mother worked in a sweatshop in Chinatown before she quit and became a homemaker.

My father was a herbalist before he passed away on naturally three months after I graduated

from college.

After his passing, no one in my family had a job.

And so he says, I found a full-time job at Columbia University.

I was the only one with income.

So I taught myself how to create apps in my free time and I created apps on the weekends

with hopes of making some side income.

I didn't expect this to make me millions.

And then he says, where does he say his money?

I don't think he says his money somewhere here, but yeah, go ahead, fill in the gaps

for instance.

So he doesn't say it there, but I found it.

So there's this other subreddit that I talk about all the time called fatfire.

And they've got this particular type of flare called verified by the mods, where the mods,

the moderators look at the income or your balance sheet.

They look at something and they say, yeah, we believe it.

What you are saying is true.

And his verification is for $100 million liquid plus.

And so the guy has over a hundred million dollars and he did it all through two or three

of these apps.

And I believe with close to no employees and he did it over around eight or 10 years.

It's a heat, by the way, he says, so he has three apps.

This means I'm the only person ever in app store history.

This is what he wrote at the time.

This was back in, I don't know, 2012, 2013, something like that, that my only person

history to have in the app, to have three apps in the app store that were top 10 overall

in the paid and free categories at the same time.

Yeah, man.

This guy's cool.

And then he, if you Google his username, it's Rego apps.

So R-E-G-O apps.

And then fatfire, you'll see his posts from fatfire and he talks about what it's like

to be different tiers of rich.

And he has all types of, you know, when I was at this thing, this is how I felt when

I was at this other thing.

This is how I felt.

And now, according to his flare, it's over a hundred million.

So you're asking, who else do I know that's done this?

I don't know this guy and I can't verify that any of this is true, but it's pretty interesting

and it might be true.

Well, yeah.

And I don't know the speed that this guy did it, but still amazing.

By the way, we should get verified in fatfire.

Why aren't we posting in fatfire?

That seems like a, that's our, those are our people.

We should hang out.

I do post there.

I post there under a name that no one knows me as, but I would post there more.

Would you post, do you use this?

Yeah.

I'll go browse.

I never post, never comment, but I'll, I'll make an account and I'll, let's do

it.

Let's get verified.

Let's do an AMA there.

Yeah.

So look, this guy's thing says, I fat, I found his username.

He goes, I fat fired at age 25.

I make $10 million a year in my thirties, 10, 10 million plus a year in my thirties.

And I have over a hundred million dollars according to, which has been verified for

the mods.

And here, this is what he says.

Someone says, what's the difference in millionaires or in money levels?

He goes at a hundred K to a million, you can tip very generously and be okay with that.

At one to five million, you could fund some medical expenses and maybe a college, college

tuition or two, maybe for an extended family member or friend at five to 20.

You could pay off a handful of college tuition.

I guess they're asking about donation.

You can pay off a handful of college tuition and some expensive surgeries.

And then he jumps to 50 to 50 million.

You can create several nonprofits and overseas that, that are overseas and help people at

a community level, like building a school or a local community or something.

So he like talks about this constantly throughout this subreddit and it's very, very interesting.

Yeah.

That's cool.

I like that.

That's a good story.

There's a story to share on this and let's call it 30 days.

Let's say I'm going to call, I'm going to leave that little seed here.

30 days.

I'll have another interesting story to share on this topic.

But let's switch to something else.

Let's talk about this guy, Scott Painter.

Do you know who Scott Painter is?

This is my, this is my Billy of the week.

This is guy Scott Painter.

I don't know if he's a Billy, but he's got that big Billy energy for sure.

And I'm going to tell you this guy's story and you're going to be, you're going to be

amazed by this guy.

All right.

So Scott Painter is a known because he was the CEO of something called true car.

And so true car is like a super successful early car companies on the internet.

So what they were doing was they were publishing price information so that you could go and

figure out, you know, the, what the true price of this car is so that, you know, if before

you would go to a dealership and depending on which dealer you went to and which salesperson

you talked to and how they sort of sized you up as a sucker, you would get like a 30% price

differential on the price of the same car.

So you could go to one place and the same exact car, they'll, they'll charge you, you

know, 30% more or less depending on which place you went.

So there's a huge spread after true car, people could just go figure out, well, this is the

price of this car in 1997, you know, Mazda Miata is supposed with this many miles is

supposed to be this price.

And in every market, they would go into the price gaps that that dealers were charging

with spread would change from 30% down to 3%.

And so they were like helping bring in price transparency.

But this dude is a crazy story.

He has basically spent like 20 years just constantly trying to reinvent the auto industry

online.

So this guy did, I'm just going to read you like his, his LinkedIn, well, he goes to

the army.

First of all, he's a Spanish interrogator, which is just like a kind of a crazy little

path that he took.

And he talks about like, you know, why you went there is like, my dad wasn't so cool.

I needed freedom.

Army was freedom for me.

So I went to the army.

Anyways, he goes and he becomes VP of marketing at 1-800-CAR-SEARCH, this early internet.

We're talking like 1999, basically.

And so there's 1-800-CAR-SEARCH, 1-800-DENTIS, he's like the VP of marketing for each.

Then he creates like a consultant.

So he's just hopping one year after that.

He creates dental advantage.

It's like consulting for dentists about how to use the internet.

Then he starts another one called Vision Incorporated is again, 1999-ish, and he's helping companies

transform like for e-commerce like, hey, companies are going to need to do e-commerce.

I'm going to help them do this.

So he was right.

He was just way early on this trend of e-commerce.

And then he just starts this like crazy run in the car industry.

So he goes, he's the founder of CARS Direct.

They go from zero to 650 million in sales in year one.

Then he goes, he starts advertising.com.

Then he's CEO and founder of TrueCar.

Then he's CEO and founder of PriceLock, which was like a lock in here, like gas prices.

Then he was the founder.

Then after, so he does TrueCar, he takes it public and he gets on this crazy scenario

where he is the, I think he's the largest individual shareholder.

He's not only the largest individual shareholder, he's buying up a ton of stock.

He believes in the stock like crazy.

They have an earnings miss like the economy sort of turns, car owner, people start slow

down with their car buying.

They have a big quarter miss.

Stock drops like crazy.

He gets margin called because he was buying so much of his own stock and he's basically

forced to borrow money from friends to pay off his margin call.

And he resigns from the company that same month.

He basically has to step down as CEO.

He lost a ton of money on his own stock.

He gets a divorce and his literal house burns down.

What does he do the following week?

The following week, he incorporates fair.com to a new way to buy cars.

And this was like basically the idea that like, hey, car buying is super, super complicated.

You go, you buy a car.

I don't know if you've ever done it, but like the process of you have to buy a car, you

have to qualify for financing, you know, 80% of cars are financed in the United States.

Nobody buys cars to all cash here.

And then you have this complicated like credit check, payment thing, then you have your insurance

on top.

You have your title insurance.

You have to do the right registration.

You have to do all this different stuff.

He's like, what if buying a car was as simple as like buying a coffee or Netflix like subscription?

So what he would do is you would just put in your phone number.

It would find out all your information.

And it would say, what car do you want?

You pick a car and it'll be like, cool, that car is $500 a month.

And you own that car and you could turn it in at any time if you don't want that car.

So it's like a long-term rentals basically was what fair was doing.

Fair grows like crazy.

They raise hundreds of millions of dollars because A, this guy has got this crazy track

record.

B, he's very kind of charismatic and formidable.

Like you see this guy as a founder and you're like, God, I would hate to be competing against

this guy in the same market.

And he thinks very big.

He's like, we're going to change the way that car ownership is done.

We're going to make this faster, cheaper, whatever.

SoftBank piles in $300 million into a Series B round and they're on their way.

And fair ends up going up really fast and then crashing really fast because a few years

ago, I don't know if you know, as the tech markets like valuations turned, SoftBank

was the big whale in this space, started losing money.

They lost money on WeWork and they lost money on, was there the big one?

SoftBank had like, I don't know, three or four like huge things like Uber, like they

had a huge bunch of huge things going like the prices crashed from where they had invested.

And so he couldn't raise any more money.

And he had built this like very complicated thing.

They lay off 40% of people.

Fair doesn't really work out.

And now he's back again, because I see this thing that says, this new startup autonomy

has placed $400 million worth of purchase orders to buy 8,000 something Teslas this year.

I was like, what?

Who's buying 8,000 Teslas?

Who's paying $400 million to buy Teslas?

And it's a startup called autonomy that is trying to make it where you can just rent

electric cars.

Simply like, there's a lot of people that want to own an electric car like a Tesla and they

can't afford it.

It's too expensive all in.

So here, pay this monthly fee and you get to rent a Tesla.

You get to own, basically you get to have a Tesla, you're not renting it like day by

day.

It's a long-term rental.

And this is him?

He's back.

Well, they placed $1 billion of purchase orders across different electric vehicle manufacturers

to do this.

So he's back.

He must have raised a ton of money again, plus raised a bunch of debt.

And he's back with his new startup, Drive Autonomy.

And this guy is fascinating.

I went down to rabbit hole listening to interviews with this guy.

He is a very, very interesting dude.

How did he come on your radar?

Because of this autonomy thing.

I worked backwards from the last thing I told you where I was like, but why were you just

looking up purchase orders of electric cars?

I saw a tweet, I follow on Twitter, Elon and a bunch of these kind of Tesla fanboy and

Tesla hater accounts.

I follow both sides.

There's basically a huge group of people that, I should actually say, it's a small group

of people that believe Tesla is a giant fraud and is going to zero.

They're called Tesla Q. And then there's other people that believe that Elon Musk is the

second coming of Jesus.

And I follow both.

And in the second coming of Jesus camp, they were like, Tesla, here's more good news for

Tesla.

Because of that autonomy has placed $400 million of orders for Tesla's because there's so much

demand.

And Elon had replied saying he was like, demand has never been the problem.

It's supply, like manufacturing, like production of cars is our problem.

Yeah, this is good news, but we don't have a demand problem.

We have so much demand.

We have supply problem.

But I was curious, where is this, you know, half a billion dollars of demand coming from?

I've never heard of this startup before.

What do they do?

And that's what they do.

What was he like when you hear him talk?

Is he charismatic?

Very matter of fact.

He's a good storyteller.

He's quick and to the point.

He reminds me a lot of, you know, the other guy we like, Frank Slutman, the guy who runs

Snowflake, who wrote that amazing blog post, amp it up, which is basically described, run

your company to win.

We're here to win.

And this is the plan to win.

And that guy's just been like a serial CEO of companies that just grow really fast.

This guy's like that.

So let me tell you some of the kind of like interesting little nuggets that came out of

this.

I'm just going to keep rambling on this guy.

You know, he's basically, he's like, I'm a multi-time college dropout.

Like I have dropped out of college multiple times.

I dropped out of my kind of prep college.

I dropped out of undergrad and I dropped out of grad school and I basically had a ton

of failure.

Do you guys know me?

Because I've tried 25 things and three have worked, but that's entrepreneurship.

You know, you need three to work out of 25 in a 20 year career and like that's like what

winning looks like.

He's like, you know, I always loved cars because cars are a, where am I at in life

purchase because I can just look at a, look at a car that I own and it would tell me a

story about where I was in life, you know, you know, when I'm graduating from when I'm

graduating, right?

I'm coming of age or when I like, you know, when I moved or when I got my first good job

or like whatever, he's like, a car basically marked, you know, each chapter.

That's how it is for most people.

I kind of had that insight, which is like a car is like your avatar that you use when

you go around the world.

A car says something about you.

And yeah, when you, when you go upgrade to the minivan is cause you're going into family

mode.

And that's what I kind of realized.

He goes, people spend a crazy amount of money on cars.

Cause in the interview, the guy's like, how have you been able to raise so much money?

He goes, well, I play in like the biggest market.

He goes 15% of all people's gross income goes to mobility, half in buying their car and half

into fuel taxes, repairs, insurance, et cetera.

And so when you have this thing that makes up 15% of what everybody makes or just put

differently, like, I think it's like a third of your net worth, you know, if people are

spending on a new, when they buy a new car, he's like, the TAM is just enormous.

You know, it's five trillion a year goes into cars or something insane like that.

So he's like, you know, that's the easy answer to how have I raised so much money?

I went and played in this big space and then I tried to reinvent it at every, every time

I would do one, I would try to reinvent it.

We were the first ones to be like, we would put the upfront price of a car on the internet.

Nobody was doing that at their, in the early days.

I think that's the cars direct.

Is he successful?

Yeah.

You said that he got marching called.

Does that mean he was broke?

Doesn't necessarily mean he was broke.

It means he didn't have enough collateral for what he borrowed for his stock.

Now, if the stock were covered, which I don't know, I haven't looked at true cars.

True car, their, their market cap is 230 million.

Yeah.

That's, that's, yeah, it does not look like it has done very well since then.

So, uh, yeah, it's like basically a third of where it was back in 2014.

So yeah, that's, that's not doing so well.

And he says that in his things.

I have, I, he's like, I made a bunch and I've lost it all many times over.

And so, you know, I'm sure this guy's done well.

Like, I don't think you can build multiple companies that get valued at billions of dollars,

take a company public.

I don't think you can do that.

And like, you got to be like, kind of really fucking reckless to walk away with less than

you know, 20 million at the end of all that.

Dude, I love people who, who take swings, even if they miss like consistently or, you know,

in this guy's case, like he didn't entirely miss.

He did actually build some amazing things, but like maybe he was just shy of what it

could have been.

Another guy who's doing that right now, tell me what you think about him, Adam Newman,

the founder of WeWork, he just raised $250 million in seed funding for a $1 billion apartment

business.

I don't exactly know what the business does, but it sounds like it's, we live, the thing

that we're talking about where you, you know, it's like fancy apartment buildings that are

all most of the same.

You pay a premium cause it's all pre-designed and looks really nice and it has a community

on it.

Honestly, I think it's awesome.

I also think WeWork is awesome.

What do you think about a guy like Adam Newman taking another swing?

I think it's great.

I think it's so easy for people to shit on him and you, people shit on him for two reasons.

One is, well, I forget the reason, I'll give the explanation.

The reason is just simply, you know, it's fun to hate on somebody, you know, that you

don't know that like, you know, seems like they flew too high.

Why?

And he's, he was full of shit.

They got too big headed and then they, they crashed, people liked that.

But I think the criticism is what?

The criticism is WeWork failed.

Well, WeWork didn't really fail.

It just didn't achieve, you know, what's WeWork work today?

WeWork is still like, you know, like five or six billion company more valuable than anything

that we've ever built.

Yeah.

WeWork is valued at 3.96 billion right now, publicly traded, you know, so it's not like

the, it's not like WeWork actually failed.

It just, you know, he raised too much money to have valuation, didn't live up to that,

that dream at that promise.

And a bunch of people got burned if you bought the stock or you joined the company at that

really high price, yeah, you're under water for that.

So that's the first criticism.

The second is he lied, cheated, steal, you know, he licensed the, he was like paying

himself out of the company for the trademark of We, he like, you know, did stupid things

like, you know, this like summer camp where everybody got drunk or whatever.

Those things to me are somewhere between a little whack, a little messed up to actually

like understandable and more common than you think when it comes to these like hyper growth

companies led by like, you know, really hard charging kind of ego driven people.

Yeah.

I don't think he's a liar.

I think he's crazy.

But there's crazy good.

There's crazy bad.

Is he crazy good or crazy bad?

He's both mostly good, but it could be in some cases it was bad.

But I think that when I, at least when I read about him and I don't know the guy I've hung

out with Miguel, the co-founder and my, my read on these guys is I don't think you're

lying.

I think that you got some things wrong and I think that you're just like incredibly enthusiastic

and I don't know, is it when you paint the picture of the future and you end up being

way wrong, you're, you're not a liar.

You're just wrong, you know, you're optimistic, but you still call that wrong, but you're

not a liar or at least you don't, you're not a liar if you believe that it's going

to be true.

Right.

Delusional or irrational is very different than like lying or fraud.

And I think there's a line who knows if he crossed it, I don't know all the details.

I'm not involved in all that, but from, from the outside, it looks to me like he was one

of these guys who is huge dreamer, irrational self-confidence, so unbelievable self-confidence

that they are going to pull it off, that they're going to pull off this crazy, crazy dream.

I do think they get, you know, high on their own supply where they start to think that

like, you know, the stuff that got them to the, to the point where, you know, you're

on the cover of Time Magazine and everybody's throwing money at you to fund you, then all

of a sudden you think, you know, I can't be touched.

And I've seen this play out many, many times.

I've gotten burned on some of these.

So I've, you know, like, I invested in Terra, which was like, you know, the Luna like crypto

coin, right?

And the founder of that was the same way.

This guy, Delquan, super smart, charismatic, unbelievable confidence that his thing was

going to work.

And some people, some people along the way were saying he's crazy.

And then slowly, but surely a bunch of smart people gave him money, you know, because it

was like, this guy's crazy, but he's kind of pulling it off.

And maybe he is just crazy enough to pull it off.

And we have many examples in history of people who are crazy enough to pull it off.

Let's see if this happens.

And then over time, his ego ballooned and it ballooned and it ballooned and he kept basically

taking larger risks and tempting people to, to, you know, sort of call him on his bluff.

And then, and then somebody did in the market, like a series of events happened and it crashed

and I went to zero and everybody looks dumb.

And, you know, I lost a million dollars of, you know, what I had and worth of Luna in

two days because I believed that this guy was going to be one of the crazy ones to pull

it off.

And I didn't think he was not crazy.

I thought he was crazy and might be the good crazy and was worth a bet.

And so on, on other times I've bailed because I thought, you know what, I'm not falling

for this sort of the hero entrepreneur, the charisma, the visionary entrepreneur thing.

I owned Tesla stock when it was really, really low.

I remember, I remember at the time Tesla was valued at maybe like two billion.

And I remember investing in it, my dad was like, Tesla, they don't make any money.

And I was like, yeah, but I think that, you know, here's my reason why I think they're

going to be big ABC.

And then I said, I said, he's like, yeah, but like, you know, it's already valued at

three billion.

I was like, well, you know, at the time, I think GM was like 25 billion or something

like that.

What's, what's Tesla now like 500 billion?

Yeah.

I mean, it hit a trillion.

So like, you know, I would have rode two billion to a trillion.

And yeah.

So basically like this was my, it was the first stock that I bought.

I think I put in like 25K or something crazy like that.

I forgot the exact numbers.

I remember 25K would have been, would have been like millions.

Yeah.

At one point I calculated it was a $5 million.

I would have had $5 million.

What I did was I turned the 25K into the 125K and I sold because I started to get suspicious

that like, damn, this guy really over promises and he has, he does over promise.

He over promises on like when something will be built, how good it'll be.

Like he's pretty much wrong on the timing always.

Like he's, he's been saying that the Cybertruck is coming out.

He's been saying that the, you know, the Model 3 would be more affordable than it is.

You'll say that autopilot, like he's been charging people for autopilot, like the self-driving

full, you buy FSD full self-driving and it's like not full self-driving and you've been

paying thousands of dollars for like multiple years now and he always says it's right around

the corner.

Right.

So this guy does have this.

I remember when I was reading the, the Twitter stuff about like people who were basically

saying this guy's a fraud, Tesla's a scam.

It was very, very convincing.

There was a lot of convincing evidence.

I remember like they went through 20 CFOs, 20 CFOs.

And like a four year time span.

And like the new CFO was like some guy's never been a CFO before and somebody really smart

once told me, just follow the CFOs, the CFOs know what's going on with the company.

They know the company health better than anybody.

And that made a lot of sense to me.

I actually still believe that principle.

It just turned out to be wrong here.

And no, no, it was right, which is that it was on the brink of collapse consistently

and he kept pushing it.

He threaded the needle.

He pulled it off.

He threaded the needle, he pulled it off and there's still a bunch of mountain of evidence

as to that.

It's very close to failing that he basically overpromised slash that overpromised would

be the generous term, you know, sort of lied, manipulated, you know, to keep the stock up

to prevent it from getting, you know, basically crashing and going out of business.

There's a bunch of evidence that supports that, but the bottom line is he pulled it

off and I was, you know, $5 million wrong for selling early.

And so I've been on both sides of this.

And I think where I net it out is some people literally are just con artists and they are

literally just going to scam you and their charisma will, will manipulate you and dupe

you into, into believing in them.

But they're the, some of the best entrepreneurs do have this same, have such a similar profile

where they're irrational, delusional, willing to run into a, you know, a fire pit and they're

like, there's no way you'll make it out.

And then, you know, nine out of 10 don't, but the one out of 10 who do, you know, change

the game.

And so I've just sort of landed on, you know what, I'm going to lean towards, I'm going

to lean towards optimistic on this, cause even though I would be right if I was pessimistic

about it nine times out of 10, I'd miss the, I'd have a false negative on the one that

actually works out and that one will pay for all the losers and investing terms and be

like, you know, it's just more fun to sort of like follow these entrepreneurs and, and

understand what they're doing, you know, and why they believe they can do this and be more

optimistic than a hater towards them.

That's kind of why I landed on this.

That's a good one.

All right.

Let me tell you, I'm going to, I want to end with two things.

One is the lamest thing I've seen on the internet in the past few weeks.

And number two is a company that is making way more money than I thought and I'm absolutely

going to clone it eventually.

I'm going to start with the second one.

Go to bitpipe.com.

So B-I-T-P-I-P-E.com.

Tell me what you see.

Okay.

Oh my God.

All right.

I see a Craigslist looking website.

It says bitpipe is the enterprise IT professionals guide to IT resources, browsers fee online

library with the latest technical white papers, webcasts, product information.

All right.

I don't know what this is, but basically it looks like a set of blogs maybe.

Click one of them.

Click content management.

Then click view now.

Okay.

It looks like it's a set of reports.

So click view now.

So I did it for you and says, this is an article from computer weekly.

It was released on August 2022 and it's called, like it's so technical.

I don't even know what it actually is.

What's the one that you're looking at?

I'm looking at Euro tunnels, digital journey for realities of post-COVID travel and it

tells me I can download this E-Zine, E-Zine.

The hell is it?

All right.

And I'm going to, let me tell you an even worse one.

This one's called how to choose an HR software.

Is that what people call a magazine on the internet?

E-Zine?

Is that what it's called?

Yeah.

It's old.

So this one's, there's one called how to choose.

Listen to this one.

It's called how to choose an HR software system and HR system is one of the most important

purchases an organization makes.

Nowadays, the stakes couldn't be higher and download this E-Guide and learn all the key

steps in setting up an effective buying process and how to identify HR software features.

Then it says, give us your corporate email address, your first name, last name, company

name, job title, seniority, job function, number of employees, industry, address, country,

state, zip, phone and just click download now and we'll send it to you.

All right.

So this website, it's owned by a company that owns like 20 or 30 of these websites and it

only has about 3,000 customers, but it makes around $400 to $500 million a year in revenue

and the way it works, yes, Sam, no, no, no, I refuse to accept this reality, no, no way.

Cut this out, I don't like this, I don't like this.

It's a publicly traded company.

It's a publicly traded company with a market cap of about two and a half or $3 billion.

So it's owned by a company called, hold on, so this exact thing BitPipe makes that much

or the whole company makes that much?

The whole company, which is roughly like 10 or 20 of websites like this.

What's the company called?

Tech Target.

So every company on this BitPipe website, you see how it says this is from computerweekly.com

or this article is from networking, it's like flow route, socialnetworking.com.

This was from this other website that talks about global knowledge, which is your guide

on information systems.

So they own like 10 or 20 publications that talk all about buying software for huge companies

and they get very few people coming to these websites a month, very few, but because the

article is called how to buy an HR system for 1,000 plus employees, there's around

2,500 companies in America that will pay them money to do a couple of things.

The first thing is they want to contact the people.

The lady who is giving her email and information on an article on how to pick an HR system

is a lady who maybe 30 different HR customers will say, hey, I'll give you 500 bucks if

you can give me that lady's information so I can call her.

The second thing that they do is they'll track that lady.

That lady, Linda, she's going to go to computerweekly.com and look at an HR software thing.

Then she's going to go to information systems and look at a cloud software thing.

And then what tech target is going to do is they're going to go to their clients and

be like, hey, hey, motherfuckers, you there?

I got a lady who's about to buy this thing, that thing and that thing.

You want to talk to her?

You want to holler?

And that's what they do.

And that's how they make their money and they make hundreds of millions of dollars

a year.

That's all they do.

They go, hey, this motherfucker is about to buy some cloud software.

You want to holler?

Yeah.

They own a website actually called whatis.

And it's just like people googling.

But that means their friends are like, hey, what it is, bro?

Yeah.

Yeah, I got this chief information officer at Gardner.

Yeah.

Yeah, they want to score, man.

Yeah, she's texting me, yeah.

Yeah.

Yeah, you up?

This is insane.

Sorry.

But why do people, why is that person who's the head of HR, why are they landing at this

website that looks like it's from like 1979?

This looks like, you know, back when the internet was called the intranet and it was like six

computers.

This looks like an intranet website.

It's not even an internet site.

Why do they do this versus just Googling?

Because dude, if you Google like what is a good software, if I'm the chief information

officer of a 10,000 or 5,000 person companies, I'm going to get my information from a few

different ways.

I'm going to watch loads of very specific webinars that are on like a trade show, a

trade magazine.

I'm going to read trade magazine and by trade magazine, I'm going to learn about them because

they're hosting like a 100% trade show that's all it talks about like how to pick an HR

software in Vegas.

And it's really just a really fun way for me to go and watch the Chippendales get through

their thing.

But then I'm going to go to like a vendor that day and like, you know, we're going to

hang out and do some blow.

But then that, so they're going to go to that website and learn all about it because that's

how they know them.

And then occasionally that company is going to do a webinar in order to access the webinar.

I'm going to give them a bunch of information and they're going to sell that information

to the eight companies that could possibly service me.

And that's how the tech target makes money.

And so this lady Linda, she's going to go to all these websites and meet all these people

because it's a small, it's a small, small industry.

There's like maybe 10s or at most hundreds of thousands of people who would do this.

And this is what I've been thinking about this B2B media world.

It is awful.

Say it with me.

It is awful.

It is horrible.

Horrible industry.

It is awful.

Yes.

With a, it's such a low threshold of what's good and what's not good.

The content is horrible and people love it.

And these businesses.

Why aren't we starting a company that just beats these guys?

Why aren't we starting the most boring B2B media company?

But we put our spin on it.

Just mugshot.

He's dead to mugshots.

We are going to do to the B2B media industry.

Why are we doing this?

That's what we're going to call it.

The B2B bitches.

Hey, where's the B2B bitches?

What's up?

Yeah.

It's going to be like a, like a radio show where it's going to be like, Hey, it's the

B2B bitches.

Today we're going to talk about information systems.

You know, like, yeah, exactly.

We're going to have a podcast.

That's the radio station.

Actually, we're just going to have an AM radio station.

Yeah.

We're going to have a, you know, we're going to give pagers to every CIO in America.

And it was going to be like little sound clubs.

It's going to be like, B2B bitches in the morning.

Yeah.

This is going to work.

Yeah.

Exactly.

Yeah.

You know, my favorite thing, by the way, those radio stations that do the cheaters segment.

You see this?

They like basically call.

I love that.

It's, hey, will you call my boyfriend and just see if he would cheat on me?

And they just call the boyfriend and then she's on the other line and they basically

trick him into being like, yeah, all right, I'll meet you at Home Depot with time.

And then they're like, actually, Rebecca's on the other line and Rebecca's like, you

son of a.

That's what we're going to do.

We're going to get one vendor, your existing HR solution on the line.

And then we're going to call being like, hey, are you interested in a new HR solution?

And when they say yes, we're going to be like, oh, we got workday on the line.

Workday.

What's up?

He's going to cheat on you.

He's going to cheat on you.

And it's called churn busters.

And we just catch them in the act.

No one has ever laughed at this style of content except until or up until right now.

We're the first people to ever make tech target.

Pioneers.

Fun topic.

Yeah.

But dude, this is interesting, right?

This business model is crazy fascinating to me.

They make money through webinars.

They make money through like these e-papers or they fucking call them a zine.

I mean, that's just like who's working here.

So my next business, I already have started a company.

It's like this community thing.

I'm going to add this, this style of company I'm going to add it to.

This is going to be in our portfolio of products.

Now, let me show you the last thing, dude, last week, I said, I just say before you do

that, can I just say before you do that, this is yet again a number seven.

We got a number seven.

This is a Sampar special.

This is a Sampar special.

It's like no one's even heard of this website.

Somehow it does hundreds of millions of years a year.

It looks like it's from 1982 and you know, how do you even know these?

I don't know.

But this is a Sampar special.

This is why I like to talk to you because you bring these things.

Nobody, nobody I know in my entire life.

I could, I could hit every single person I'd say, Hey, you ever heard a bit pipe?

I will get the answer.

No, across the board.

You're the only person that I know that knows about this stuff.

Well, look up tech target market cap.

What is it?

Is it like two point?

It's like multi-billion.

It's like one of these companies that's like in plain sight, but no one pays attention

to it.

So it's there.

Let's see the current price.

So it's trading at $72 a share with a market cap of $2.1 billion.

And what was its peak?

It's peak was probably five or six or seven.

I mean, it's not like a little thing.

Yeah.

Double.

Yeah.

Basically double where it's at now.

All right.

Last thing.

The lamest thing that I saw last week.

So this guy posted on LinkedIn a picture of him crying and he's the post starts off.

This will be the most vulnerable thing I'll ever share.

I've gone back and forth, whether to post this or not, but we just had to lay off a

few of our employees and he talks about how it's his fault and how he made all these

decisions.

And I'm going to have to file this under things that I'm going to take to the fucking grave.

I cannot believe this post.

I cannot believe this post.

What happened to a man being stoic and just, you know, like just taking this, just take

these feelings and just push them down.

You know what I mean?

Just accept it and push them down.

Hey, it's great.

On that shelf that just has daddy issues.

Make room.

Yeah.

We got something you need to put on the shelf.

I'm buried deep down in my gut.

Yeah.

Yeah.

Yeah.

I want that problem to walk over and be like, excuse me.

I wonder if I scooch in right here.

That's what needs to happen with this.

I cannot believe this person shared this.

Is that ridiculous?

I mean, I don't even understand it, by the way, because I've seen a lot of layoffs of

the last few weeks on LinkedIn.

Most of these are due to the economy or whatever other reason.

Hours.

My fault.

I made a decision in February that I stuck with for too long.

Now I know my team will say, we've made this decision together.

By the way, they won't.

They'll say, you made this decision.

They're not going to be like, we all made this mistake, boss.

Yeah.

So then he basically writes this long thing and he writes it like in the marketer style,

it's every other line, like single line, enter one line, enter.

And then he posts this picture of himself looking into the camera crying.

And this has, I think it has 50,000 likes and 10,000 comments, but most of the comments

are just shitting on him, which is hilarious, as is deserved to be honest.

You know, at my first million, we don't condone bullying, but we definitely don't condone

absolutely faking the funk like this guy's doing the top comment that I liked was some

guy was like, hang on, did you turn your ring light on before you took this selfie?

Cause I can kind of see the reflection.

It looks like you turned a ring light on to take this selfie of you crying to post on

LinkedIn.

And that's just calls it out so perfectly the, the, the inauthenticity of the fake authenticity

that this guy tried to try to portray.

I condone some type of bullying.

I condone bullying this guy because if the bullies had they done their job, nerds like

this wouldn't be going around existing.

This is the most ridiculous thing I've ever seen.

I saw this and I was like, bullies, you failed us.

How on earth did this guy get away with it?

You need like, you know, in every ecosystem, it's like, yeah, well, the plankton have to

be there cause they're absorbing this.

So, you know, these parasites, actually you need them because of this.

That's why we need bullies.

Otherwise, like this is going to run rampant if there's no bullying.

Yes.

This guy, someone, he needed a big brother.

He needed a big sister, someone to be like, look, this isn't how you act.

This is not, this isn't the right way to behave when something like this happens.

You dork.

I cannot believe this.

We're probably here at the My First Million podcast.

Dude, there's just going to be a generation of, a generation missing cool kids because

of this.

This is the definition of small boy stuff.

This is, this is, this is small boy stuff.

This is, this is a small boys that gets, I saw this and I was like, oh man, I've seen

a, I've seen a bunch of these like, like Henry Ward from Carta wrote this letter of saying

how he screwed up and I was like, okay, that's cool, whatever.

This is the worst example I've ever seen of this.

I think, what do you think is going to happen to this guy's career?

If you're a customer of his, I'd be like, oh, we, like your code must suck.

You know, if you're, if your product is even 50% as weak as you, it's not going to work.

Do you know what I mean?

Do you know what I mean?

Dude, some of these comments are hilarious to like Brandon and Braden.

I understand these things happen, happens for a reason, focus on the positive.

Let it go.

Leave my sweet child.

Best easy.

It starts off with a serious comment.

It's like, sleep, sleep, leave my sweet child.

So this is actually the best content ever on LinkedIn.

This is the best content on LinkedIn.

Like the comments, the combination of the post and the comments, all of a sudden LinkedIn

was the most entertaining, you know, like social media of the day from this one post.

Dude, I was gagging reading it, man.

It was, this was crazy.

I felt embarrassed for, I just felt so embarrassed for him.

We talk about cringe stuff.

I legitimately cringed.

I remember my face being like, like I just had that, my face was changing shapes, reading

this.

Yeah.

Like I have this tooth.

That's like a little sensitive.

And it just started like ringing when I read this, I was like, ah, like I ate too cold

of ice cream.

That's how it felt when I read this.

It's just like this uncomfortable, this uncomfortable feeling that I just needed to pass.

All right.

So that's the episode.

Go tell your friends, tell your mom, you know, go at us on LinkedIn.

Go do what you got to do.

This is my first day.

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 off on a road.

Let's travel never looking back.

Machine-generated transcript that may contain inaccuracies.

Episode 349: Sam Parr (@TheSamParr) and Shaan Puri (@ShaanVP) talk about WeWork founder - Adam Neumann's - next big project, how to make $10 million in three months, and more.
-----
Links:
* Alan Wong
* Scott Painter
* Bitpipe
* Braden Wallake
* Do you love MFM and want to see Sam and Shaan's smiling faces? Subscribe to our Youtube channel.
* Want more insights like MFM? Check out Shaan's newsletter.
-----
Show Notes:
(04:50) - How much money it costs to ball out in New York
(19:55) - Making $10M in a year
(28:00) - Scott Painter
(38:35) - Adam Nuemann.
(46:55) - Worst thing I've seen: TechTarget
(56:10) - Worst thing I've seen: The Crying CEO and why we need bullies
-----
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:
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• #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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