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High activity, high alignment, if you have both this things, you have somebody who's

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moving a lot of things in the right direction, and ideally you get a lot of attention back.

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If my life gets worse when someone starts, that's a bad sign.

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And if my life doesn't change when they start, that's also not that good of a sign either.

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By and large, I want to see some dramatic changes in how my time is getting allocated

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from bringing somebody in, especially if they're taking things off my way.

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It's a small hill you're willing to die on that some people might just think is trivial.

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The manifestation is bullshit, and action is the only thing that matters.

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Wouldn't you say that manifestation is the first step before action?

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So it depends on how we define manifestation.

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So if we define manifestation is like an electrical signal occurs in your brain, sure, but

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I don't think that's how most people describe it.

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So I would say be totally on board with manifestation if we define it as knowing that.

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Like I know that this is possible.

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Like I saw this or I have some perspective that has changed.

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To me, that's just knowledge.

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So if you have knowledge that you can't start a bank, you have to have the knowledge that

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you can start a bank before you start a bank.

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That makes sense.

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So fine.

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But the bank doesn't occur until you take the action.

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But the idea of the mindless ideation of I'm going to manifest my husband into existence

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is I think relatively bullshit.

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Now that being said, there's some people who do that and then also take actions that

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then change their circumstances and then they get the husband and then they misattribute

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what was the thing that caused it?

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And so for me, I think, I mean, fundamentally the position that I'm in is trying to identify

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cause a relationship is accurately as possible.

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And so the logical proof that I use with this is just simply mindset plus no action, no

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outcome, mindset plus action outcome, no mindset action outcome.

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So the action is really going to be the only thing that's going to.

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I would argue that you mean mindset.

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You need some sort of mindset to have the action like I'm kind of big in a manifestation.

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So it's interesting for me to be sure that there you go.

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Like to me, like the example of people get so upset by this, by the way, whenever you

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find it really interesting, what's their main contention with it?

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Well, they have a history of being reinforced for talking to other people about manifestation.

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And so they want to talk about it.

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Have other people nod and smile and agree with them and those are all pro social behaviors.

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And so I think it makes sense that they would do that.

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Again, it depends on how we define manifestation, which I've yet to find anyone who's been

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able to define it well.

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Actually, you get to find really easily.

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And so that's the part, right?

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So it's really just this word that has a least positive connotation.

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I just think it helps you with focus.

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So like it helps you with the station.

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Let's say the, let's just say the boyfriend girlfriend example where you manifest the

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perfect.

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So what is manifestation?

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You thinking clearly about your wants, needs, goals, what to look for, who this sort of

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is.

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Correct.

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Now by manifesting that, you're going to be on the lookout for those sort of quality

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of the manifestation or the minute, like we said, prioritization.

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And then I think the problem is that you're kind of using a derivative definition of

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prioritization.

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This is fundamentally why I have an issue.

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And then because you're using manifestation to indicate some sort of data or information,

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a lot of people that have a different definition of manifestation are going to apply that

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to their definition of my distinct management.

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People they know what manifestation is.

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That's is that's actually my point.

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A lot of people think like you sit down and you manifest something and then they think

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it's going to walk right through that door.

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Like they think that cosmically, everything, there's just like somehow get best.

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Look at that.

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Exactly.

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Doing better than nothing, but I don't think there's data that shows that you can trigger

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the same dopamine receptors when you think about getting a billion dollars, then when

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you get a billion dollars, like it's a similar thing.

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Obviously it's going to be a lot less intense when you think about it, but when you daydream

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about all these amazing things that are happening, it doesn't actually change the reality of

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your existence.

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It's only giving you small dopamine.

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So when you can get yourself to have a firm belief that something is going to happen

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and that nothing is getting it in the way, your actions are going to be reinforced by

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that.

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Well, the action is the only thing that will matter.

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I think there's got to be a belief in yourself to stick with those actions.

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You have declarative knowledge, but also those are skills.

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And so if someone tries 100 times versus 10 times, I would say the fact that they took

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more action is the reason they got to where they're trying to go.

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Now when we try to get to like, why did they do that?

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I don't think anyone has the answer to that.

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I think the reason for that is because no one knows why they do.

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I think they have a core belief in what they're doing.

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So they're fed that dealing is going to have an outcome to defend Graham.

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When I first reached out to Graham to try to provide value to him, exactly.

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I mean, I sat in my room like the benefits of this bar.

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So I had no skills whatsoever.

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The only thing that I had was high confidence in my aptitude and confidence.

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Like, I knew that I could provide value, but it was more of just like something that

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existed in my brain.

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I don't know if I necessarily had evidence to support that.

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I just knew that I was competent enough.

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And so maybe I manifested that one could argue that.

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So the big, the big zooming all the way out here just for context, I think the reason that

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people get really up in arms about it is because these are, these are dogmas, right?

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These are belief systems which people operate at their very core, which really just means

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ways of being, which means ways of behaving and ways of talking is included in terms of

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behavior.

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But people have a very hard time defining what the hell they're talking about when we

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ask some of these words that are amorphous.

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And so I have, by and large, just removed them from my vocabulary so that I can describe

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the observable and it has been probably the single most productive thing that I have done

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in my career.

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And so is it a small hill?

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It is probably the only hill and the main hill that I will die on, which is that behavior

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rules everything.

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And you have a history of past, you know, reinforcers or punishers for a set of behaviors and you

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repeat them in the future.

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And that is the only thing that I will say about why someone does something.

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You've been rewarded in the past for reaching out to people for doing things.

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They can be crossed on made.

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So it's like maybe you reached out to girls and they was able to jump into business and

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you were able to reach out to business owners.

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So we crossed them.

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Yeah.

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Well, I know that.

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I know.

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I'm pleased.

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Absolutely.

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But you have the idea of those are just sets of skills, those are behaviors.

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And so focusing exclusively on behaviors and unmondling terms that are amorphous has

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been, I think, the key to my ability to communicate to people, train staff and kind of enlist

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people to where we're trying to go.

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And I think that that has really been like when people are like, man, I feel like Alex

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is so good at making things slurred because I just do not use amorphous language.

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And I was like, what do you use the term?

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I will define the terms.

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So now by the observer, but I believe the shift belief starts with mindset.

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Well, it's like we're, it starts with, like what's belief, what's mindset, what's

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man and a fest thing?

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You heard one with this.

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This isn't not to poke.

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I actually just want to help not, not you guys, everyone else, no, but I just, I don't

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think it serves people.

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And that's why.

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I just don't like necessarily be like, I mean, yes, you feel great about it.

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I'm glad that if you, if you had the option between making 100 phone calls and sitting

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there and manifesting, you will get further making 100 phone calls.

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And so I'm trying to decrease the amount of time it takes people to just do the thing.

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It's funny.

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The first podcast we had with you were mentioning that you had recently removed the word.

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I think it was, it was should.

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You would also removed because calls are relationships.

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We don't know.

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You, you remove all of these words and every single podcast, you're like, I've since

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removed this word.

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And now I guess it's just like you've gone to the meta of just reducing amorphous descriptions

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of things just to the observable, just to the observable on this existence.

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It's been, it's been, it will be, I'll call this.

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I think that the book that I read on behavior will outside all of my books, but together.

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Tell us about the book on behavior.

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I'm curious about it.

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Well, it's not, it's, it's, it's outlined.

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You're cooking though.

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Yeah, it's, it's cooking.

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But I, I have this belief and it's probably my own limitation, but I want to have a publicly

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verified billion dollar plus net worth so that I can then I think have the pedestal or

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at least the, the pedestal on the right word credentials.

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Yeah.

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Oh, I know.

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I know that I know the book's title, billion dollar offer, billion dollar beliefs, they

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believe that's pretty good.

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Actually, I like that.

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No, I'd probably call it.

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I know it.

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I'd probably call it, but a million dollar man at the stations, a million dollar mindset,

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a million dollar one set, a hundred million dollar one set, yeah, billion dollar brain.

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I will, I'll, I'll give an explanation of what I mean by this.

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So it's definitely got to be a billion dollar and then something that starts with it.

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I don't know.

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I think billion dollar would scare off a lot of people that are just looking for general

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because if you want to market a link now, it says you kind of have to be billion dollar.

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So it's, so we have to define, so it's like in the beginning, we have to start defining

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terms of what's the, what's the meta concept that I kind of operate off of?

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The biggest one is fundamentally that, like what is learning, right, like what is learning?

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Ratatation.

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So it's, it's same condition, new behavior.

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That's fun.

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I mean, like from a, from behavioral science perspective, it's like if you were, so if

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you're, you know, person is condition A, and then we teach them something when they

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re-enter condition A, they change their behavior.

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So it's observable.

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So same condition, new behavior, if you, the phone rings and you say X, Y, Z, and then

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I say, hey, don't say X, Y, Z, Z, Y, W, the phone rings again, you say X, Y, Z, you

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haven't learned.

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If you say Z, Y, W, you have learned.

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If you say something else, you've learned, but the wrong thing, right, but fundamentally

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it's a change in behavior within the same condition.

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And so it's okay.

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If we say that as kind of like tenant number one, the next tenant is looking at what is intelligence.

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So intelligence is going to be rate of learning.

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So if I have to do that, you know, example, 10 times with, you know, Jack and five times

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with Graham, then Jack has less intelligence than Graham does in this context.

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This is a hypothetical Jack.

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And then you know, Graham, these names are completely taken at random.

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But then it's like that.

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But the reason I think that's important is because then it allows people to have direct

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influence on their own intelligence.

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So if you learn faster, you change your behavior faster than somebody else, then you can

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in a very real way be more intelligent than that.

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And so when we asked originally, you know, do you have to have your own talent, I think

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it depends on what type of intelligence to talk about when it comes to swarming behaviors

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this time.

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Well, beyond that, it's okay.

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Well, then a lot of words would be like, so what's an excuse?

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So like an excuse is a statement to avoid punishment, which is very simple.

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It's okay.

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That's what it's a statement.

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Someone says something.

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An excuse has occurred.

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And by looking at patients, I've defined this plenty of times, so I had to use it all

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the time, which is figuring out what to do in the meantime.

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So if you say to a young kid, be patient, they don't know what that means.

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It's a bundle term.

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It means nothing.

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Be patient.

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It means nothing.

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So how do you give some directions on how to be patient?

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Figure out something else to do.

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It's all I have to do.

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We are all being patient right now for our S&P 500 accounts.

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We're being paid.

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We're doing something else.

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That's all we have to do is just something else.

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And so it makes patients operationalized by like, how can I do patients?

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Like support.

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What support?

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Hey, why aren't you supporting me?

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Well, they're dictionary.

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Yeah.

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That's right.

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When a person interacts with deliberately lowers the probability of failure, that's when

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someone supports.

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So it's like, Hey, like I've been supporting you.

239
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It's like you make my life harder.

240
00:10:23.360 --> 00:10:26.840
You have not been decreasing the probability of failure, like your wife, your girlfriend

241
00:10:26.840 --> 00:10:28.080
who's trying to take away from work.

242
00:10:28.080 --> 00:10:29.880
It's no, you're actually not supporting me.

243
00:10:29.880 --> 00:10:31.960
You're increasing the likelihood of failure.

244
00:10:31.960 --> 00:10:33.560
So how are you defining support, right?

245
00:10:33.560 --> 00:10:36.240
This is why I think definition of terms is so important because people just say words

246
00:10:36.240 --> 00:10:38.360
and they don't even understand the words they're saying and then they get upset about

247
00:10:38.360 --> 00:10:41.360
words, they haven't even defined themselves because they get rewarded in the past.

248
00:10:41.360 --> 00:10:44.720
They're getting upset about it with other people to get upset about with together.

249
00:10:44.720 --> 00:10:47.960
So it's, and so, and defining each of these terms has been really helpful for me because

250
00:10:47.960 --> 00:10:49.240
it helps me navigate the world.

251
00:10:49.240 --> 00:10:50.400
So it's like, what's, what's guilt?

252
00:10:50.400 --> 00:10:51.400
What's shame?

253
00:10:51.400 --> 00:10:55.040
And like these, these really amorphous terms that are showing me like, show me guilt.

254
00:10:55.040 --> 00:10:57.640
It's when it's when you break your own rules and what shame it's when you break someone

255
00:10:57.640 --> 00:10:58.640
else's rules.

256
00:10:58.640 --> 00:10:59.640
What about purpose?

257
00:10:59.640 --> 00:11:00.640
Purpose.

258
00:11:00.640 --> 00:11:01.640
Let me see if I have to find that one.

259
00:11:01.640 --> 00:11:02.640
I might have it.

260
00:11:02.640 --> 00:11:03.640
I have.

261
00:11:03.640 --> 00:11:06.000
So you're really just kind of redefining all of these words or at least simple.

262
00:11:06.000 --> 00:11:10.400
The words that are important and by defining them, it's more putting them into a context

263
00:11:10.400 --> 00:11:12.800
that we're all talking on the same plane.

264
00:11:12.800 --> 00:11:18.120
Well, it's, it's, it's, it's, it's defining them within the observable universe.

265
00:11:18.120 --> 00:11:19.640
That way we can all agree.

266
00:11:19.640 --> 00:11:22.720
Easier the things that we see when someone has exhibited resiliency, it means that they've

267
00:11:22.720 --> 00:11:26.440
returned to a baseline of behavior and how resilient they are depends on how quickly

268
00:11:26.440 --> 00:11:27.440
they do that.

269
00:11:27.440 --> 00:11:30.360
If someone's not very resilient, it means that they extend the change in behavior for

270
00:11:30.360 --> 00:11:31.360
a long period of time.

271
00:11:31.360 --> 00:11:34.040
If they're permanently quote traumatized, it means they never change their behavior.

272
00:11:34.040 --> 00:11:35.040
Right.

273
00:11:35.040 --> 00:11:36.040
So it's like, what's trauma?

274
00:11:36.040 --> 00:11:37.040
Right.

275
00:11:37.040 --> 00:11:40.240
It's a permanent change in behavior based on a diverse of stimulus that negative stimulus.

276
00:11:40.240 --> 00:11:41.240
Right.

277
00:11:41.240 --> 00:11:45.120
But then the question is, okay, if we have this trauma, right, then people are like, I store

278
00:11:45.120 --> 00:11:48.040
trauma in my spine, it's what?

279
00:11:48.040 --> 00:11:49.520
Where is there, is there a hard drive in here?

280
00:11:49.520 --> 00:11:50.520
Like where?

281
00:11:50.520 --> 00:11:52.000
What cell is this being?

282
00:11:52.000 --> 00:11:53.000
People just say things.

283
00:11:53.000 --> 00:11:57.120
And so it's just, it's a permanent change in behavior from something bad happening.

284
00:11:57.120 --> 00:11:58.120
Okay.

285
00:11:58.120 --> 00:12:01.360
Now, if you're a little baby and you touch a stove and it burns your hand and that's a

286
00:12:01.360 --> 00:12:05.280
diverse of stimulus and you change your behavior, you don't touch hot stoves again, was

287
00:12:05.280 --> 00:12:07.000
trauma bad.

288
00:12:07.000 --> 00:12:08.160
I love that.

289
00:12:08.160 --> 00:12:12.480
I actually like once you said that you're redefining everything into terms of the observable

290
00:12:12.480 --> 00:12:16.600
universe, I think that that it'll be more exciting than that, I think it'll be my most

291
00:12:16.600 --> 00:12:17.600
successful.

292
00:12:17.600 --> 00:12:21.200
I'm curious though, for something as I would say, what's courage?

293
00:12:21.200 --> 00:12:22.680
What's courage, right?

294
00:12:22.680 --> 00:12:26.400
So the interval of time, a potentially bad thing affects whether you do it.

295
00:12:26.400 --> 00:12:29.320
What about something that's so like purpose or meaning?

296
00:12:29.320 --> 00:12:32.520
Because I feel like really, I can't imagine how to find those.

297
00:12:32.520 --> 00:12:33.960
I don't, I think they're definable.

298
00:12:33.960 --> 00:12:38.800
It just takes a long time to really think like the question you have to answer is, what

299
00:12:38.800 --> 00:12:41.560
would someone do for me to say purpose has occurred?

300
00:12:41.560 --> 00:12:45.160
I guess maybe you could scratch or something, because you have to complete the shift

301
00:12:45.160 --> 00:12:48.400
how you're seeing things and be able to observe them kind of like firsthand.

302
00:12:48.400 --> 00:12:50.400
And so it's what's authenticity?

303
00:12:50.400 --> 00:12:53.320
It's how you behave when you have no risk of punishment.

304
00:12:53.320 --> 00:12:56.760
And someone that obeys all of the terms that you've outlaid in that box, it's not

305
00:12:56.760 --> 00:12:57.760
of what bang.

306
00:12:57.760 --> 00:13:00.720
It's just like this is tip like I have to define these terms in order to talk about them

307
00:13:00.720 --> 00:13:01.920
because they're also more efficient.

308
00:13:01.920 --> 00:13:05.120
If I never define them, then I would just be making face noise and other people would

309
00:13:05.120 --> 00:13:08.000
be perceiving my face and ways in whatever way they think it means, which they haven't

310
00:13:08.000 --> 00:13:09.000
to find anyways.

311
00:13:09.000 --> 00:13:10.760
And so then there be a lack of communication.

312
00:13:10.760 --> 00:13:16.360
I think fundamentally like good communicators are able to transfer ideas efficiently because

313
00:13:16.360 --> 00:13:19.640
they use language that everyone understands and ideally things that everyone can observe

314
00:13:19.640 --> 00:13:21.400
with their own two eyes.

315
00:13:21.400 --> 00:13:24.200
And so that's I try and stick to everything being observable.

316
00:13:24.200 --> 00:13:26.720
And so as a result, it's made persuasion way easier.

317
00:13:26.720 --> 00:13:30.520
It's been the most important one is that like if I want to train, which happens a lot

318
00:13:30.520 --> 00:13:34.320
in the business setting, it's like, how do you train someone and you're like, be more

319
00:13:34.320 --> 00:13:35.320
confident?

320
00:13:35.320 --> 00:13:36.320
What does that mean?

321
00:13:36.320 --> 00:13:38.720
Tell us six year old be confident means nothing.

322
00:13:38.720 --> 00:13:39.720
It means nothing.

323
00:13:39.720 --> 00:13:41.280
They might just say that means talk louder.

324
00:13:41.280 --> 00:13:42.800
I don't know what that means, right?

325
00:13:42.800 --> 00:13:43.800
And so it's a bundle term.

326
00:13:43.800 --> 00:13:46.760
And so we have to break the term down and it's, okay, well, this is actually a series

327
00:13:46.760 --> 00:13:51.120
of many behaviors underneath of confidence that when taking an aggregate, we then describe

328
00:13:51.120 --> 00:13:52.440
that person's confident.

329
00:13:52.440 --> 00:13:54.720
So maybe they look at you in the eyes when they talk, maybe they know their head when

330
00:13:54.720 --> 00:13:58.680
they're listening, they repeat back the last thing that you said, maybe when there's

331
00:13:58.680 --> 00:14:01.800
something that has potential risk or downside, they're willing to do it.

332
00:14:01.800 --> 00:14:05.840
Like these are all things that we can observe and they say, okay, well, if you have these,

333
00:14:05.840 --> 00:14:10.680
you exhibit these traits, these skills in this setting, people describe you as confident.

334
00:14:10.680 --> 00:14:12.680
Does that make sense?

335
00:14:12.680 --> 00:14:17.600
And so being able to break things down like that has allowed me to help my team when I'm

336
00:14:17.600 --> 00:14:22.360
like, hey, I've told the story before, but basically I had a guy who, a lot of people

337
00:14:22.360 --> 00:14:24.360
were saying, hey, this guy's actually like a dick, but he was a star performer.

338
00:14:24.360 --> 00:14:27.920
So we're like, okay, well, let's see if we can save him, you know, as we talked to three

339
00:14:27.920 --> 00:14:30.680
or four leaders in the company and he was still a dick.

340
00:14:30.680 --> 00:14:31.840
And so I was like, what would you tell him?

341
00:14:31.840 --> 00:14:32.840
We're like, oh, we told him to stop being dick.

342
00:14:32.840 --> 00:14:35.680
And I was like, okay, well, so I ended up meeting him with them and I was like, I want

343
00:14:35.680 --> 00:14:37.360
to be clear, I don't really care if you're a dick or not.

344
00:14:37.360 --> 00:14:39.640
I do care if people describe you as a dick.

345
00:14:39.640 --> 00:14:42.440
And the purpose of this meeting is the decrease of likelihood that anyone talks to me about

346
00:14:42.440 --> 00:14:44.040
you again in a negative context.

347
00:14:44.040 --> 00:14:45.040
Cool.

348
00:14:45.040 --> 00:14:46.040
Great.

349
00:14:46.040 --> 00:14:47.040
So that was the agenda.

350
00:14:47.600 --> 00:14:51.160
In order for that to occur, let's talk with the things that when you do them, people

351
00:14:51.160 --> 00:14:53.280
don't like them and they call you a dick.

352
00:14:53.280 --> 00:14:56.520
So it's like when you interrupt people during a meeting, they think you're a dick and they

353
00:14:56.520 --> 00:14:57.760
call you a dick later.

354
00:14:57.760 --> 00:15:00.560
When you tell someone how to do their job, they call you a dick and you try and force your

355
00:15:00.560 --> 00:15:03.440
agenda, whatever, there's two or three examples.

356
00:15:03.440 --> 00:15:06.160
And he was like, so that's all I have to do is like, yep, that's all you have to do is

357
00:15:06.160 --> 00:15:10.200
say, but what if, you know, I present this thing and then they don't execute on it.

358
00:15:10.200 --> 00:15:12.840
I was like, then that's not on you.

359
00:15:12.840 --> 00:15:15.440
That's on the manager and I'll talk to the manager and make sure that they're executing.

360
00:15:15.440 --> 00:15:16.440
That's not on you.

361
00:15:17.080 --> 00:15:22.160
And so once that got clear, all of a sudden, he just stopped doing the three things that

362
00:15:22.160 --> 00:15:26.920
everyone, the three behaviors that people then lattered up to saying he's a dick and then

363
00:15:26.920 --> 00:15:30.640
they stopped calling the dick and then everyone's, oh, he's like nine day totally different.

364
00:15:30.640 --> 00:15:33.560
But it was just like no one's specific with their language.

365
00:15:33.560 --> 00:15:35.080
And so no one knows what he was talking about.

366
00:15:35.080 --> 00:15:38.600
I think the vast majority of people don't communicate well for another because both people

367
00:15:38.600 --> 00:15:40.920
are saying worse than either person understands and no one's to find anything.

368
00:15:40.920 --> 00:15:42.520
And that's why most people can't communicate at all.

369
00:15:42.520 --> 00:15:44.560
And that's why most people are to satisfy with their wife and that's why they can't manage

370
00:15:44.560 --> 00:15:47.040
the relationship because they're like, both people get upset, no one knows how to communicate

371
00:15:47.040 --> 00:15:48.040
and then that's it.

372
00:15:48.040 --> 00:15:51.800
They want the other person to guess what behavior they don't like.

373
00:15:51.800 --> 00:15:54.760
And so it's even if I said, oh, you know, John's lazy, you have to think, and this is

374
00:15:54.760 --> 00:15:58.480
why most people don't do is because it takes work, you have to think, okay, I think John's

375
00:15:58.480 --> 00:15:59.480
lazy.

376
00:15:59.480 --> 00:16:01.120
Why do I think John's lazy?

377
00:16:01.120 --> 00:16:02.120
What would occurred?

378
00:16:02.120 --> 00:16:05.040
What did I observe that then made me think that now you might find out, you know what,

379
00:16:05.040 --> 00:16:07.240
he's actually just slow to respond.

380
00:16:07.240 --> 00:16:08.240
Okay.

381
00:16:08.240 --> 00:16:09.240
Is there anything else?

382
00:16:09.240 --> 00:16:11.080
There was one meeting he came up prepared.

383
00:16:11.080 --> 00:16:12.600
Is there anything else?

384
00:16:12.600 --> 00:16:14.120
No, I think that was actually it.

385
00:16:14.120 --> 00:16:15.120
Okay.

386
00:16:15.120 --> 00:16:17.440
So when I go to John, instead of being like, hey, you're lazy, I'm going to say, hey,

387
00:16:17.440 --> 00:16:21.200
I need you to speed up your responses to under five minutes.

388
00:16:21.200 --> 00:16:22.880
And when you come to a meeting, have your notes out of time.

389
00:16:22.880 --> 00:16:23.880
Just send them to me.

390
00:16:23.880 --> 00:16:26.120
All of a sudden, John's not lazy anymore.

391
00:16:26.120 --> 00:16:29.600
But it's because it was this very micro thing that we then ladder up to this amorphous

392
00:16:29.600 --> 00:16:31.360
term that no one can understand.

393
00:16:31.360 --> 00:16:37.640
And so this is, this has been a huge area of interest for me in defining reality.

394
00:16:37.640 --> 00:16:42.160
And I think that honestly, it's helped me navigate reality really well and make higher

395
00:16:42.160 --> 00:16:43.160
quality decisions.

396
00:16:43.160 --> 00:16:48.160
How much of the book is for you and like a playbook for your entire company and team

397
00:16:48.160 --> 00:16:51.640
versus something that you could market with?

398
00:16:51.640 --> 00:16:52.960
Market, what do you mean?

399
00:16:52.960 --> 00:16:55.800
In terms of using as, let's say, a sales funnel.

400
00:16:55.800 --> 00:16:59.160
Oh, I don't, I think this will be like a service tissue manly type thing.

401
00:16:59.160 --> 00:17:00.160
Okay.

402
00:17:00.160 --> 00:17:02.640
I think fundamentally like the reason that most people don't get what they want is because

403
00:17:02.640 --> 00:17:05.040
they don't see reality accurately.

404
00:17:05.040 --> 00:17:07.840
And so they do things that they think will work and don't work.

405
00:17:07.840 --> 00:17:11.520
And how do you assess whether or not someone sees reality accurately or not?

406
00:17:11.520 --> 00:17:15.400
Is it just based off of their predictions of a certain output and then if that output

407
00:17:15.400 --> 00:17:16.400
is real?

408
00:17:16.400 --> 00:17:19.840
I think if you look at someone's life, you can see how good they are predicting outcomes.

409
00:17:19.840 --> 00:17:22.320
Do they have what they want?

410
00:17:22.320 --> 00:17:26.760
Is your book mostly then about redefining certain words and effective communication or

411
00:17:26.760 --> 00:17:29.120
what is the behavioral aspect of it?

412
00:17:29.120 --> 00:17:30.840
Is it just about how that can get what you want?

413
00:17:30.840 --> 00:17:31.840
It's about getting what you want.

414
00:17:31.840 --> 00:17:34.680
And I think a lot of getting what you want is being able to define what is what and the

415
00:17:34.680 --> 00:17:36.680
hell you want and how to get it.

416
00:17:36.680 --> 00:17:40.440
But the hard part is that maybe that assumes that the other person also understands those

417
00:17:40.440 --> 00:17:41.440
words.

418
00:17:41.840 --> 00:17:43.360
Well, that's what we have to define that.

419
00:17:43.360 --> 00:17:47.040
Something that someone reads his book, how would it be actionable for them to get those

420
00:17:47.040 --> 00:17:50.880
ideas across with somebody else who hasn't read the book and that's what they are.

421
00:17:50.880 --> 00:17:51.880
That's what they are.

422
00:17:51.880 --> 00:17:52.880
That's the define the terms.

423
00:17:52.880 --> 00:17:56.400
That's it's getting a complicated word and then simplifying it into the lane.

424
00:17:56.400 --> 00:17:57.400
Right.

425
00:17:57.400 --> 00:17:59.800
And we don't have, well, they're not, they're currently not communicating with that person.

426
00:17:59.800 --> 00:18:02.440
So like how would they talk to somebody who hasn't read the book the way they always

427
00:18:02.440 --> 00:18:06.240
do, which is nothing, which the thing is is the point that you hit on underpins the

428
00:18:06.240 --> 00:18:08.080
fact that most people can't communicate well at all.

429
00:18:08.080 --> 00:18:09.080
Right.

430
00:18:09.080 --> 00:18:16.840
So if a lot of people want to be different than they are, and I am first in line on that,

431
00:18:16.840 --> 00:18:20.560
there are many things that I've wanted to be different about myself for a very long period

432
00:18:20.560 --> 00:18:21.560
of time.

433
00:18:21.560 --> 00:18:26.760
And this book and these ideas have been the culmination of trying to change these things

434
00:18:26.760 --> 00:18:27.760
about myself.

435
00:18:27.760 --> 00:18:31.360
I would say I want to be more authentic and like, what's authenticity?

436
00:18:31.360 --> 00:18:32.360
How do I be more authentic?

437
00:18:32.360 --> 00:18:33.960
What do I do?

438
00:18:33.960 --> 00:18:34.960
Well, it's okay.

439
00:18:34.960 --> 00:18:38.200
Well, authenticity is how you behave when there's no risk of punishment.

440
00:18:38.200 --> 00:18:40.960
And so if there's no risk of punishment, how you behave basically, if you're alone

441
00:18:40.960 --> 00:18:44.040
and no one can find out what you do, that's you authentically.

442
00:18:44.040 --> 00:18:47.920
Now the problem is that in society, we also have rules that govern other people's behavior,

443
00:18:47.920 --> 00:18:48.920
right?

444
00:18:48.920 --> 00:18:52.480
Which means that the only truly authentic person is someone who behaves the exactly alone

445
00:18:52.480 --> 00:18:56.920
as they do in public, which will probably have something to do with your preferences.

446
00:18:56.920 --> 00:19:01.440
And so can you be truly authentic only in that subset of people who act with complete

447
00:19:01.440 --> 00:19:05.960
freedom and when they act with complete freedom, act within the rules of the law?

448
00:19:05.960 --> 00:19:09.600
Anyone else who has any inclination to do anything that's outside of society's preferences

449
00:19:09.600 --> 00:19:14.760
or rules that govern how we interact with each other or the laws, right, has to buy

450
00:19:14.760 --> 00:19:18.960
their very definition, not be authentic or be less than 100% authentic.

451
00:19:18.960 --> 00:19:22.120
And I see many of these traits as not binaries are you authentic or not authentic, but how

452
00:19:22.120 --> 00:19:23.440
authentic are you?

453
00:19:23.440 --> 00:19:27.040
And also in this setting, and if it's me and this sounds like it's a little bit more complex,

454
00:19:27.040 --> 00:19:28.240
it's yeah, welcome to reality.

455
00:19:28.240 --> 00:19:31.440
So how have you been holding yourself back in terms of authenticity?

456
00:19:32.000 --> 00:19:37.480
Well, it's also the question of is being 100% authentic something that is I should be.

457
00:19:38.520 --> 00:19:40.280
I mean, realistically, probably not.

458
00:19:40.280 --> 00:19:40.720
Right.

459
00:19:40.720 --> 00:19:45.160
And so again, but the thing is once we define the term, we actually can have a discussion

460
00:19:45.160 --> 00:19:48.400
about it because now we're all talking the same language and it's much more productive.

461
00:19:48.400 --> 00:19:53.120
And it's also way less charged from a, if we had never defined the term, then you would

462
00:19:53.120 --> 00:19:56.360
have maybe been like, what do you mean you don't think you're authentic?

463
00:19:56.360 --> 00:19:58.040
I'd be like, well, not 100% of the time.

464
00:19:58.040 --> 00:19:59.240
So you're lying to people, right?

465
00:19:59.520 --> 00:20:02.520
We don't define the term and then all of a sudden we're attacking each other rather than

466
00:20:02.520 --> 00:20:08.320
just saying, well, no, I act differently in private than I do in public to a certain

467
00:20:08.320 --> 00:20:09.320
degree.

468
00:20:09.320 --> 00:20:10.320
I walk around naked.

469
00:20:10.320 --> 00:20:14.000
If I walk around naked in public, that would probably be, but I'm being a little bit

470
00:20:14.000 --> 00:20:15.000
inauthentic right now.

471
00:20:15.000 --> 00:20:16.000
I'm wearing clothing.

472
00:20:16.000 --> 00:20:17.000
I normally wouldn't wear clothing, right?

473
00:20:17.000 --> 00:20:18.000
You know what I'm saying?

474
00:20:18.000 --> 00:20:23.160
And so again, what it does is it adds nuance, but BF Skinner, who's a famous behavioral

475
00:20:23.160 --> 00:20:26.720
scientist, said, if many variables exist, many variables must be studied.

476
00:20:26.720 --> 00:20:31.040
So a lot of people want a very neat box with clean lines and say, this is the way it is.

477
00:20:31.040 --> 00:20:33.600
And I don't think reality is that way.

478
00:20:33.600 --> 00:20:36.360
Like it's not, it's this person honest, just honest is how honest are they?

479
00:20:36.360 --> 00:20:37.360
How loyal are they?

480
00:20:37.360 --> 00:20:41.000
You know what a banger video would be, honestly, you're talking about authenticity or about

481
00:20:41.000 --> 00:20:45.600
the importance of our authenticity naked, but you blur it, obviously, like just, it would

482
00:20:45.600 --> 00:20:48.040
be in a, it would be in a, oh, you don't have to play.

483
00:20:48.040 --> 00:20:49.040
Jack says you don't have it.

484
00:20:49.040 --> 00:20:50.040
It would belong by heart version.

485
00:20:50.040 --> 00:20:52.640
So like that would be telling them what time I had it.

486
00:20:52.640 --> 00:20:55.040
The raw dog, the raw experience.

487
00:20:55.440 --> 00:20:57.440
No, I think, I think that is a good idea.

488
00:20:57.440 --> 00:21:01.400
You know, it's interesting what you're saying right now, it reminds me exactly of Jordan

489
00:21:01.400 --> 00:21:03.200
Peterson. Have you ever spoke to Jordan?

490
00:21:03.200 --> 00:21:06.240
No, I think we're actually trying to get something organized though, because you see him

491
00:21:06.240 --> 00:21:10.240
in interviews and then he'll get called something and he's, what do you mean by that?

492
00:21:10.240 --> 00:21:11.240
Yeah.

493
00:21:11.240 --> 00:21:15.280
Like that is the most Jordan Petersonian thing ever and you're kind of doing essentially

494
00:21:15.280 --> 00:21:16.280
the exact same thing.

495
00:21:16.280 --> 00:21:17.280
You're just creating a guide to it.

496
00:21:17.280 --> 00:21:18.280
You have to define terms.

497
00:21:18.280 --> 00:21:19.280
I'm curious.

498
00:21:19.280 --> 00:21:24.240
You take a blank slate person, they read and apply everything that you write in this book.

499
00:21:24.240 --> 00:21:27.440
What does their life look like a year down the road, five years down the road?

500
00:21:27.440 --> 00:21:28.440
Great question.

501
00:21:28.440 --> 00:21:33.520
So the book will by no means be a, here is how to live life, because that assumes that

502
00:21:33.520 --> 00:21:36.560
I know and that I think they should do something.

503
00:21:36.560 --> 00:21:42.280
I think it's more, if you want these things, these are the recipes for achieving them.

504
00:21:42.280 --> 00:21:45.560
So if you want to be perceived as patient, figure out things to do in the meantime.

505
00:21:45.560 --> 00:21:49.420
If you want to be perceived as authentic, behave more in a way that you do in private

506
00:21:49.420 --> 00:21:54.380
public, if you want to be perceived as more courageous, then decrease the time between

507
00:21:54.380 --> 00:21:57.380
when you perceive something as risky and when you take action on it.

508
00:21:57.380 --> 00:22:00.340
Like all of a sudden it's, oh, so I want these traits.

509
00:22:00.340 --> 00:22:03.460
And so this would, in my opinion, be the first way that, at least the first place I've

510
00:22:03.460 --> 00:22:06.980
seen where there's like a recipe, like do this.

511
00:22:06.980 --> 00:22:11.180
How would you explain it to a child who doesn't know what the words mean?

512
00:22:11.180 --> 00:22:15.740
And I think that's what allows, well, I mean, it's what allowed me, it's what has allowed

513
00:22:15.740 --> 00:22:20.660
me to exhibit more traits that I wanted to have versus traits that I didn't want to

514
00:22:20.660 --> 00:22:21.660
have.

515
00:22:21.660 --> 00:22:24.700
And until I had that, I just was like, why do people describe me this way?

516
00:22:24.700 --> 00:22:28.700
I just, because I couldn't break down what I had to change, but what I did to change

517
00:22:28.700 --> 00:22:29.700
basically reality.

518
00:22:29.700 --> 00:22:32.500
You're in a great position to talk about it too, it's interesting, because you've mentioned

519
00:22:32.500 --> 00:22:36.980
this years ago that you had an issue, I think it was with anger, and you also had the

520
00:22:36.980 --> 00:22:37.980
patience thing.

521
00:22:37.980 --> 00:22:38.980
Yeah.

522
00:22:38.980 --> 00:22:42.460
But it does appear as though you've made pretty significant strides in applying corrective

523
00:22:42.460 --> 00:22:45.700
behavior to those more-on-patients plus something.

524
00:22:45.700 --> 00:22:52.860
And how does anger affect negatively, maybe your business or your life?

525
00:22:52.860 --> 00:22:53.860
What have you noticed?

526
00:22:53.860 --> 00:22:54.860
Okay.

527
00:22:54.860 --> 00:22:58.820
Well, I'll say that the negative effects of anger for me have probably just come in almost

528
00:22:58.820 --> 00:23:03.660
entirely from the way that people treat me, not in terms of negative outcomes business-wise.

529
00:23:03.660 --> 00:23:07.420
I think the reason that I still have anger is because it has served me.

530
00:23:07.420 --> 00:23:09.380
So I think we repeat things that have served us in the past.

531
00:23:09.380 --> 00:23:12.580
And so I think one of the reasons that people misunderstand why they do things is because

532
00:23:12.660 --> 00:23:15.700
people ask the question, what triggered that?

533
00:23:15.700 --> 00:23:16.700
You remember that?

534
00:23:16.700 --> 00:23:20.060
It's something triggered this behavior, but it's not about what happened before, it's

535
00:23:20.060 --> 00:23:23.220
about what happened after the last time you did it.

536
00:23:23.220 --> 00:23:25.740
So I'll give you a real example.

537
00:23:25.740 --> 00:23:31.260
So if Laila gets upset, this is something that I've really actively worked a lot on, if

538
00:23:31.260 --> 00:23:37.340
Laila gets upset and she gets like she cries if we're having some, you know, whatever.

539
00:23:37.340 --> 00:23:42.580
I had a tendency to try and comfort, comfort for a short period.

540
00:23:42.580 --> 00:23:45.500
And then if that didn't work, I would get angry.

541
00:23:45.500 --> 00:23:47.460
When I would get angry, she would get scared.

542
00:23:47.460 --> 00:23:49.660
When she would get scared, she would stop crying.

543
00:23:49.660 --> 00:23:51.300
And so when I got angry, she stopped crying.

544
00:23:51.300 --> 00:23:54.980
And so I learned that if I got angry, I got my wife to stop crying.

545
00:23:54.980 --> 00:23:58.420
And so it was a very reinforced, I only free that out later.

546
00:23:58.420 --> 00:23:59.580
And so it's a very reinforcing thing.

547
00:23:59.580 --> 00:24:03.220
So if I can, this gets Laila to stop crying, right?

548
00:24:03.220 --> 00:24:07.660
And so to the same degree, so that I've been rewarded in that setting, but obviously

549
00:24:07.660 --> 00:24:10.660
she's like long-term at the road, so you know, it's said that I have to work on that,

550
00:24:10.660 --> 00:24:11.660
right?

551
00:24:11.660 --> 00:24:15.620
If I value the relationship, which I do, at the same context with my team, right?

552
00:24:15.620 --> 00:24:21.220
If I am quick to anger, be cold or sharp with someone, and it doesn't even have to happen

553
00:24:21.220 --> 00:24:22.220
often.

554
00:24:22.220 --> 00:24:24.740
If you do it once or twice, or even if you do it in front of something not directed

555
00:24:24.740 --> 00:24:27.780
towards them, they're like, well, I never want because modeling is a great way that

556
00:24:27.780 --> 00:24:28.780
people learn.

557
00:24:28.780 --> 00:24:31.980
If someone shows up late and I yell at that person, then that everyone else is still afraid

558
00:24:31.980 --> 00:24:34.460
of me and doesn't want to shop late either, right?

559
00:24:34.460 --> 00:24:38.860
And so what happens is the flow of communication from other people to me slows down because

560
00:24:38.860 --> 00:24:41.700
they're afraid of getting punished by me.

561
00:24:41.700 --> 00:24:46.020
And so I see that as not positive for the business, as me not having the information.

562
00:24:46.020 --> 00:24:47.020
Now how do I cover for that?

563
00:24:47.020 --> 00:24:50.060
Well, I have somebody like Laila who always gets all the information, and that's why she

564
00:24:50.060 --> 00:24:53.820
CEO doesn't have direct reports, and so we've been able to manage that within the business

565
00:24:53.820 --> 00:24:57.380
operationally, but in terms of me personally, like I want to be better about that.

566
00:24:57.380 --> 00:25:00.620
And so that's like an example of something that I'm working on.

567
00:25:00.700 --> 00:25:06.020
What's interesting is I kind of have a similar thing in terms of if someone's emotional

568
00:25:06.020 --> 00:25:09.300
to me, or I have very, very little patience unfortunately for it, and it's one of my short

569
00:25:09.300 --> 00:25:10.300
comings.

570
00:25:10.300 --> 00:25:11.300
Yeah.

571
00:25:11.300 --> 00:25:12.300
Since you fixed that, how have you noticed?

572
00:25:12.300 --> 00:25:13.300
Fixed.

573
00:25:13.300 --> 00:25:14.300
Yeah.

574
00:25:14.300 --> 00:25:15.300
Well, yeah.

575
00:25:15.300 --> 00:25:16.300
Sure.

576
00:25:16.300 --> 00:25:17.300
Okay.

577
00:25:17.300 --> 00:25:20.220
Since you try to improve upon that, how have you noticed that that change in real observable

578
00:25:20.220 --> 00:25:21.220
ways?

579
00:25:21.220 --> 00:25:24.700
Well, I mean, Laila has now also because she understands how this stuff works too, because

580
00:25:24.700 --> 00:25:25.700
we talk about the time.

581
00:25:25.700 --> 00:25:29.620
Like she has tried to reinforce whenever I'm not angry and she's upset.

582
00:25:29.620 --> 00:25:32.860
And so either in the moment or immediately afterwards, she's, thank you for not getting

583
00:25:32.860 --> 00:25:36.300
upset and thank you for being there for me and thank you for just hugging me and, you

584
00:25:36.300 --> 00:25:38.220
know, just reading it out essentially.

585
00:25:38.220 --> 00:25:41.420
And so I just have to remember that when I'm in those settings and the more time she

586
00:25:41.420 --> 00:25:48.420
reinforces it, the less strong the other reinforcers, the stronger the, the new one is.

587
00:25:48.420 --> 00:25:53.580
Real quick, guys, I have a special, special gift for you for being loyal listeners of

588
00:25:53.580 --> 00:25:54.580
the podcast.

589
00:25:54.580 --> 00:26:00.540
Laila and I spend probably an entire quarter putting together our scaling roadmap.

590
00:26:00.540 --> 00:26:06.060
It's breaking, scaling into 10 stages and across all eight functions of the business.

591
00:26:06.060 --> 00:26:09.180
So you've got marketing, you've got sales, you've got product, you got customer success,

592
00:26:09.180 --> 00:26:12.300
you've got IT, you've got recruiting, you've got HR, you've got finance.

593
00:26:12.300 --> 00:26:15.940
And we show the problems that emerged at every level of scale and how to graduate to

594
00:26:15.940 --> 00:26:16.940
the next level.

595
00:26:16.940 --> 00:26:21.820
It's all free and you can get it personalized to you since about 30-ish pages for each

596
00:26:21.820 --> 00:26:22.820
of the stages.

597
00:26:22.820 --> 00:26:26.660
If you answer the questions, it will tell you exactly where you're at and what you need

598
00:26:26.660 --> 00:26:27.660
to do to grow.

599
00:26:27.660 --> 00:26:31.900
It's about 14 hours of stuff, but it's narrowed down so that you only have to watch the

600
00:26:31.900 --> 00:26:34.780
part that's relevant to you, which will probably be about 90 minutes.

601
00:26:34.780 --> 00:26:39.060
And so if that's at all interesting, you can go to acquisition.com forward slash roadmap,

602
00:26:39.060 --> 00:26:40.540
R-O-A-D-Map.

603
00:26:40.540 --> 00:26:41.540
Roadmap.

604
00:26:41.540 --> 00:26:42.540
Hmm.

605
00:26:42.540 --> 00:26:48.620
Well, it seems pretty easy for you to, what the?

606
00:26:48.620 --> 00:26:54.340
Well, dismiss, I would say, well, make everything very logical, right?

607
00:26:54.340 --> 00:26:59.780
Well, to quantify every little thing is that's this belief I have this, if we can't quantify

608
00:26:59.780 --> 00:27:00.780
it, I don't understand it.

609
00:27:00.780 --> 00:27:07.100
And I think a lot of this stuff has come from suffering, like, being like, why can't

610
00:27:07.100 --> 00:27:08.100
I be this way?

611
00:27:08.100 --> 00:27:10.020
I want to be this way and I can't, like, why can't I?

612
00:27:10.020 --> 00:27:12.780
And it's because I don't know how, why don't I know how, because I have no words that

613
00:27:12.780 --> 00:27:14.340
have survived how to do it well.

614
00:27:14.340 --> 00:27:15.900
So how do I change this in reality?

615
00:27:15.900 --> 00:27:21.980
And so it's been, it's been the result of, of, of a lot of seeking and a lot of pain.

616
00:27:21.980 --> 00:27:24.460
And that's, so I don't, I don't see it as logical.

617
00:27:24.460 --> 00:27:26.180
I see this as just descriptive.

618
00:27:26.180 --> 00:27:27.940
This is, this is how it works.

619
00:27:27.940 --> 00:27:34.460
But, but you're able to, to, to assign a new timeline in terms of when you learn something

620
00:27:34.460 --> 00:27:39.220
to, to, to, to a longer period of time, rather than most people, which assess things over

621
00:27:39.220 --> 00:27:42.540
a shorter period of time, for example, you know, when you would get angry at Layla,

622
00:27:42.540 --> 00:27:43.540
like, she would quiet.

623
00:27:43.540 --> 00:27:44.980
And you're like, okay, like this works.

624
00:27:44.980 --> 00:27:48.900
But then you're able to then see way deeper into the future and then make decisions based

625
00:27:48.900 --> 00:27:49.900
off of that.

626
00:27:49.900 --> 00:27:50.900
Even if this isn't going to work long term.

627
00:27:50.900 --> 00:27:51.900
Yeah.

628
00:27:51.900 --> 00:27:52.900
Yeah.

629
00:27:52.900 --> 00:27:54.380
Like, I'll get feedback and, I mean, to be fair, I'll get feedback immediately afterwards

630
00:27:54.380 --> 00:27:56.100
where, you know, she might not be happy.

631
00:27:56.100 --> 00:27:57.100
Fair.

632
00:27:57.100 --> 00:27:58.100
Yeah.

633
00:27:58.100 --> 00:27:59.100
You know what I mean?

634
00:27:59.100 --> 00:28:01.820
And so I think it, like, it comes down to one of the things that we want to change and

635
00:28:01.820 --> 00:28:03.300
then how do we change them?

636
00:28:03.300 --> 00:28:08.620
And ideally we want to have some sort of reward cycle as fast as possible with that new behavior.

637
00:28:08.620 --> 00:28:12.380
And that's, I think that's how fundamentally you can change what you do, which then

638
00:28:12.380 --> 00:28:13.980
letters up to who you are.

639
00:28:13.980 --> 00:28:17.740
Moving on from that now, in terms of acquisition.com, I was like, I'm done with this, I'm like,

640
00:28:17.740 --> 00:28:19.940
this, this super morphous language talk.

641
00:28:19.940 --> 00:28:20.940
Yeah.

642
00:28:20.940 --> 00:28:21.940
That's just the IZ.

643
00:28:21.940 --> 00:28:22.940
Study at Graham.

644
00:28:22.940 --> 00:28:23.940
I love it.

645
00:28:23.940 --> 00:28:24.940
Good goals, right?

646
00:28:24.940 --> 00:28:25.940
Is there anything we're missing?

647
00:28:25.940 --> 00:28:26.940
Because I, uh, someone, I get three of us to the outlet.

648
00:28:26.940 --> 00:28:27.940
Yeah.

649
00:28:27.940 --> 00:28:28.940
Maybe we should get, continue on.

650
00:28:28.940 --> 00:28:29.940
Yeah.

651
00:28:29.940 --> 00:28:31.940
But, but this for me, like, that was the most, like, focused I've been.

652
00:28:31.940 --> 00:28:32.940
Yeah.

653
00:28:32.940 --> 00:28:33.940
Is there nothing else on it?

654
00:28:33.940 --> 00:28:34.940
No, no, continue on now.

655
00:28:34.940 --> 00:28:35.940
Okay.

656
00:28:35.940 --> 00:28:36.940
We got, we got more stuff.

657
00:28:36.940 --> 00:28:37.940
That's true.

658
00:28:37.940 --> 00:28:38.940
Sure.

659
00:28:38.940 --> 00:28:39.940
Moving on.

660
00:28:39.940 --> 00:28:40.940
Yeah.

661
00:28:41.020 --> 00:28:45.060
How was your criteria changed for businesses over the last two years?

662
00:28:45.060 --> 00:28:46.380
It's just much bigger.

663
00:28:46.380 --> 00:28:48.260
It's just the businesses that have to be a lot bigger.

664
00:28:48.260 --> 00:28:50.340
They have to be billion dollar opportunities now.

665
00:28:50.340 --> 00:28:54.140
When I first started, I think, honestly, when I first started, the goal was like 50 million

666
00:28:54.140 --> 00:28:55.140
dollar opportunities.

667
00:28:55.140 --> 00:28:57.820
And then it became like 250 million dollar opportunities.

668
00:28:57.820 --> 00:29:02.100
It's almost like five X'd actually every, every 18 months or so.

669
00:29:02.100 --> 00:29:03.340
It's almost five X'd.

670
00:29:03.340 --> 00:29:04.940
So how does it work exactly?

671
00:29:04.940 --> 00:29:08.900
A company reaches out to you and they say, hey, we want to be, we'll go through acquisition

672
00:29:08.900 --> 00:29:09.900
.

673
00:29:10.140 --> 00:29:11.140
And what do they do?

674
00:29:11.140 --> 00:29:12.140
They submit their info.

675
00:29:12.140 --> 00:29:15.780
Do they want money or they want to sell or what is it?

676
00:29:15.780 --> 00:29:19.660
So we have, we have, we basically have three kind of places that someone can go.

677
00:29:19.660 --> 00:29:25.820
So for like seed capital, SaaS, you know, software type start up, we have ACU ventures, which

678
00:29:25.820 --> 00:29:27.260
is our venture arm.

679
00:29:27.260 --> 00:29:31.060
And so those are typically like smaller checks that are between like 50 and a million

680
00:29:31.060 --> 00:29:32.980
dollars, like check sizes.

681
00:29:32.980 --> 00:29:35.300
And so we do, you know, a lot of those deals.

682
00:29:35.300 --> 00:29:38.820
We do probably like a couple deals, three, four deals a month, sometimes like several

683
00:29:38.820 --> 00:29:42.940
did four, I think we did four in January, like we do a decent amount of deal volume there.

684
00:29:42.940 --> 00:29:47.380
And those deals are much more like meet the founder, understand the idea, cool, we can,

685
00:29:47.380 --> 00:29:48.780
we can just deploy.

686
00:29:48.780 --> 00:29:53.380
We have the private equity side, which is kind of like the big, big, the big boy side.

687
00:29:53.380 --> 00:29:57.580
And those businesses, like if we're going to do a deal, they're all bespoke based on,

688
00:29:57.580 --> 00:30:00.140
you know, the values of the business where we think the business and go, what our value

689
00:30:00.140 --> 00:30:01.220
add is.

690
00:30:01.220 --> 00:30:06.660
And typically in that side, it's right now we're 40% SaaS, 40% V2V services and then 20%

691
00:30:06.660 --> 00:30:07.900
consumer services.

692
00:30:07.900 --> 00:30:11.660
And we're shifting over time towards just a blend of a SaaS and professional services

693
00:30:11.660 --> 00:30:14.020
that just tends to be where we just do really well.

694
00:30:14.020 --> 00:30:15.780
And so that's on the private equity side.

695
00:30:15.780 --> 00:30:20.060
And then we have the advisory division, which we started in January of last year, which

696
00:30:20.060 --> 00:30:22.460
is companies that are like not really portfolio ready.

697
00:30:22.460 --> 00:30:27.420
And so that's kind of like that, you know, one million, 10 million, 30 million, sometimes

698
00:30:27.420 --> 00:30:30.740
a dollar per year business where it's like they need to change a couple of things.

699
00:30:30.740 --> 00:30:35.300
And the reason that happened was for the three years prior to January of last year,

700
00:30:35.300 --> 00:30:38.820
you know, we've looked at a business, we do four, five, six, you know, diligence calls,

701
00:30:38.820 --> 00:30:39.820
get to understand the business.

702
00:30:39.820 --> 00:30:44.860
And a lot of times, like 90 times out of 91, we'd be like, not a fit for us, you're not

703
00:30:44.860 --> 00:30:47.900
a fit for us right now, maybe change these two things, move this metric up.

704
00:30:47.900 --> 00:30:50.260
And when you do, call us back.

705
00:30:50.260 --> 00:30:53.060
And what ended up happening is a lot of founders were like, this was more viable than anything

706
00:30:53.060 --> 00:30:54.620
I've ever had to go through.

707
00:30:54.620 --> 00:30:55.620
And thanks for doing it for free.

708
00:30:55.620 --> 00:30:59.100
And for me, it was like, it was actually super expensive because I'm doing that 90 times.

709
00:30:59.100 --> 00:31:02.100
Times, however many calls, lots of companies, and I was like, I wonder if we could do this

710
00:31:02.100 --> 00:31:05.860
in a way that we could charge to the same basically assessment of a business and say,

711
00:31:05.860 --> 00:31:08.300
here's all the things that we would do, here's how we change it.

712
00:31:08.300 --> 00:31:10.900
And so then we, you know, we wanted to see if we were interested in it.

713
00:31:10.900 --> 00:31:13.220
So January, I was like, hey, if anyone wants to come out to our quarters, you can meet

714
00:31:13.220 --> 00:31:14.220
my portfolio team.

715
00:31:14.220 --> 00:31:17.900
We'll kind of assess the business and be like, these are the blockages to either making

716
00:31:17.900 --> 00:31:19.700
more value, we're scaling it.

717
00:31:19.700 --> 00:31:21.780
And so it's like, you'll meet with a lot of marketing, you'll be like, okay, change this

718
00:31:21.780 --> 00:31:24.780
on your web page, change this on your ads, change this, whatever, or meet with my head

719
00:31:24.780 --> 00:31:28.660
of sales, if sales is a constraint, these are the things that we do.

720
00:31:28.660 --> 00:31:30.780
And people have really, really, really liked it.

721
00:31:30.780 --> 00:31:32.140
So it's been exceptional.

722
00:31:32.140 --> 00:31:34.620
And I think the reason that it works so well is that there's kind of what I was alluding

723
00:31:34.620 --> 00:31:38.620
to the beginning is that there's just not a lot of help at that $100 million range.

724
00:31:38.620 --> 00:31:40.140
And I think we can provide that.

725
00:31:40.140 --> 00:31:41.660
And so how do you make money from that?

726
00:31:41.660 --> 00:31:45.260
Are you taking distributions from the company or have you sold something?

727
00:31:45.260 --> 00:31:47.460
No, no, we sell it as an advisory service.

728
00:31:47.460 --> 00:31:48.460
It's just a service.

729
00:31:48.460 --> 00:31:49.460
They've been able to go all frankly.

730
00:31:49.460 --> 00:31:50.460
Yeah, I got it.

731
00:31:50.460 --> 00:31:52.700
Oh, overall, no, we have distributions that come from the private equity side.

732
00:31:52.700 --> 00:31:53.700
Okay.

733
00:31:53.700 --> 00:31:55.940
The venture checks obviously, I'm not going to see anything for that for 10 years.

734
00:31:55.940 --> 00:31:58.300
And then services, just normal business.

735
00:31:58.300 --> 00:32:02.940
Why don't you have a website or a place where people could see the companies that you've

736
00:32:02.940 --> 00:32:03.940
invested in?

737
00:32:03.940 --> 00:32:04.940
It's a good question.

738
00:32:04.940 --> 00:32:06.980
It's something that I've gone really back and forth on.

739
00:32:06.980 --> 00:32:11.140
The main reason is like when I sold Jim Launch, I sold Prestige Labs, which was a sister

740
00:32:11.140 --> 00:32:14.820
company that did supplements and sold through the distribution base.

741
00:32:14.820 --> 00:32:18.780
And I remember in the diligence meetings for that, it was like a huge point of contention

742
00:32:18.780 --> 00:32:22.620
that I had a 10,000 person Instagram following at the time.

743
00:32:22.620 --> 00:32:24.740
And they were like, are all the sales coming from your Instagram?

744
00:32:24.740 --> 00:32:27.580
And this is doing like 20 million a year, just just the supplement side.

745
00:32:27.580 --> 00:32:29.460
And I was like, no, it's not coming.

746
00:32:29.460 --> 00:32:33.140
They're like, well, this could be an issue for us if we can't have complete control

747
00:32:33.140 --> 00:32:34.140
of the Instagram.

748
00:32:34.140 --> 00:32:35.140
And how do we know you're going to keep promoting it?

749
00:32:35.140 --> 00:32:40.060
And I was like, my Instagram is not driving like 10,000 people does not make a 20 million.

750
00:32:40.060 --> 00:32:41.700
I promise you.

751
00:32:41.700 --> 00:32:46.820
And seeing how sensitive they were to kind of like keen man risk around an acquisition.

752
00:32:46.820 --> 00:32:51.380
I was like, okay, if I do deals and I grow my brand, I don't want people to know what

753
00:32:51.380 --> 00:32:53.780
the companies are because I'm going to have to go, I'm going to write a check, but then

754
00:32:53.780 --> 00:32:57.100
if I publicly associate with it, then I'm going to have to go with the deal later.

755
00:32:57.100 --> 00:33:01.460
So for example, school that was purposely like a brand association plus money, obviously

756
00:33:01.460 --> 00:33:02.620
that went into it.

757
00:33:02.620 --> 00:33:05.820
But I know that I'm in that, I'm in that for the long haul, I'm going to be with school

758
00:33:05.820 --> 00:33:07.060
for many, many years.

759
00:33:07.060 --> 00:33:12.540
And so my keen man risk is something that I'm willing to basically deal with.

760
00:33:12.540 --> 00:33:17.220
Whereas if I buy a, you know, in HVAC business, I publicly associate with it, a potential

761
00:33:17.220 --> 00:33:19.700
acquire will want me to science other non-competes.

762
00:33:19.700 --> 00:33:22.460
I'll have to have some provisions around promotion and I just didn't want to do that.

763
00:33:22.460 --> 00:33:25.660
I have gone back and forth on it to be really like I've gone back and forth.

764
00:33:25.660 --> 00:33:27.940
I seem to be like there would be a net benefit on that.

765
00:33:27.940 --> 00:33:29.500
Reminds me of some, I'm going back and forth.

766
00:33:29.500 --> 00:33:30.500
I have going back and forth.

767
00:33:30.500 --> 00:33:34.860
Like a shark tank business where it's like as seen on shark tank is pretty big and you

768
00:33:34.860 --> 00:33:40.660
could argue that the business you bring to that drive up the valuation to a point where

769
00:33:40.660 --> 00:33:44.260
even without you, it's still higher than if you were never involved in.

770
00:33:44.260 --> 00:33:46.620
I'll tell you where it said agreed.

771
00:33:46.620 --> 00:33:51.260
So then the next thing that goes is if I have all of these different things that I'm

772
00:33:51.260 --> 00:33:54.860
like pseudo promoting, then it almost feels like I'm sharing a lot of things.

773
00:33:54.860 --> 00:33:55.860
Now.

774
00:33:55.860 --> 00:33:56.860
And so that's been where I've been.

775
00:33:56.860 --> 00:33:57.860
Yeah.

776
00:33:57.860 --> 00:34:01.900
I would just as a viewer of you, not that anyone, not that I would question your credibility

777
00:34:01.900 --> 00:34:05.100
fund, but I think that it would, it would bring a lot more clarity where I'd actually

778
00:34:05.100 --> 00:34:08.860
go and say, boy, I'm going back and I think it would attract a lot more businesses where

779
00:34:08.860 --> 00:34:11.580
you could say, hey, when you started with acquisition.com, you were valued at as much

780
00:34:11.580 --> 00:34:12.580
your revenue as this much.

781
00:34:12.580 --> 00:34:13.580
And now look at you.

782
00:34:13.580 --> 00:34:17.940
Here's the other thing I think it would help you negotiate better terms saying that you're

783
00:34:17.940 --> 00:34:22.260
going to be on this website where it's even a hundred companies.

784
00:34:22.260 --> 00:34:26.180
And I think it's important you put them all in the same place so that it's not like

785
00:34:26.180 --> 00:34:28.900
you're promoting this or promoting matter.

786
00:34:28.900 --> 00:34:30.380
You should never talk about these.

787
00:34:30.380 --> 00:34:33.340
The other is in less than a podcast setting where you're giving an example.

788
00:34:33.340 --> 00:34:34.340
The other, the other.

789
00:34:34.340 --> 00:34:35.340
Yeah.

790
00:34:35.340 --> 00:34:36.980
I mean, I've been very, I've been torn on it.

791
00:34:36.980 --> 00:34:40.660
I was like, I mean, I've been very like because of all the reasons I just said, but the

792
00:34:40.660 --> 00:34:44.260
other one is kind of like the, the compliance things that I just said, right?

793
00:34:44.260 --> 00:34:49.300
If a company could you, like a company does something stupid and companies do stupid things.

794
00:34:49.300 --> 00:34:52.900
And then I, I mean, you didn't even own FTX, right?

795
00:34:52.900 --> 00:34:54.180
And you got hammered for it.

796
00:34:54.180 --> 00:34:55.500
You're not even own it.

797
00:34:55.500 --> 00:34:57.020
You're like, I'm a promoter.

798
00:34:57.020 --> 00:34:59.860
I've got paid the sponsor and give me a break, right?

799
00:34:59.860 --> 00:35:04.140
And so if I have a, even if I wrote a venture check to a business and then the company does

800
00:35:04.140 --> 00:35:10.380
something, I'm an owner and any, any, you know, reporter or, you know, cloud seeking

801
00:35:10.380 --> 00:35:15.420
YouTuber would then be like, her mosey is saying doing this instance like, how is it

802
00:35:15.420 --> 00:35:18.300
different from why combinator where they're very public?

803
00:35:18.300 --> 00:35:19.300
Yeah.

804
00:35:19.300 --> 00:35:22.660
Well, a lot of these, like, even some of these private equity values are just like,

805
00:35:22.660 --> 00:35:23.660
it's the value prop though.

806
00:35:23.660 --> 00:35:27.860
Why she value prop is harbors value prop is like the, the main thing they get is, yeah,

807
00:35:27.860 --> 00:35:32.980
but there are plenty that go through why combinator that just turn out to be, you know, maybe not

808
00:35:32.980 --> 00:35:33.980
the best.

809
00:35:33.980 --> 00:35:34.980
Yeah.

810
00:35:34.980 --> 00:35:36.940
But I think it's, well, why combinator is kind of unique in that.

811
00:35:36.940 --> 00:35:42.100
I mean, to be fair, if a, if a Harvard grad does something bad, Harvard takes a hit, but

812
00:35:42.100 --> 00:35:44.100
is a law of like, it's going to work both ways.

813
00:35:44.100 --> 00:35:45.100
Yeah.

814
00:35:45.100 --> 00:35:47.660
I think it's going to hurt you if a business does something that reflects on you.

815
00:35:47.660 --> 00:35:51.180
And if you do something or reflect on all your businesses, I think it goes both ways.

816
00:35:51.180 --> 00:35:54.460
I think the net benefit is like a 51 to a 49.

817
00:35:54.460 --> 00:35:55.460
Yeah.

818
00:35:55.460 --> 00:35:56.460
49 to 50.

819
00:35:56.460 --> 00:36:01.100
Like I have, I have gone back and forth to the theory where I've been like, I mean, I'm

820
00:36:01.100 --> 00:36:02.300
going to make all of our stuff public.

821
00:36:02.300 --> 00:36:05.220
I think we are make, I think the ACQ ventures are not mistaken.

822
00:36:05.220 --> 00:36:08.180
I think our ventures things are public.

823
00:36:08.180 --> 00:36:09.180
So it's really just the private.

824
00:36:09.180 --> 00:36:10.180
Yeah.

825
00:36:10.180 --> 00:36:11.180
But what about school?

826
00:36:11.180 --> 00:36:13.860
What was your mindset behind that school is interesting.

827
00:36:13.860 --> 00:36:18.180
So, you know, for me, again, this is, you know, using brand to promote something, right?

828
00:36:18.180 --> 00:36:20.940
You know, it'd been four years that have been making content and really never promoted

829
00:36:20.940 --> 00:36:22.460
anything.

830
00:36:22.460 --> 00:36:28.380
And when I look at my audience, I make business content almost exclusively, but still,

831
00:36:28.380 --> 00:36:32.740
like 60 something percent of my audience is people who want to start a business, not

832
00:36:32.740 --> 00:36:33.740
people who have a business.

833
00:36:33.740 --> 00:36:35.420
And I think that's just the nature of just humans.

834
00:36:35.420 --> 00:36:39.340
There's way more people who don't have businesses than people who do, you know, nine percent

835
00:36:39.340 --> 00:36:42.500
of business, nine percent of people on businesses is 91 don't.

836
00:36:42.500 --> 00:36:47.300
And so if we're at 30 percent or 33 percent people who are my audience own businesses,

837
00:36:47.300 --> 00:36:51.460
we're three or four times represented, overrepresented by business owners because I make

838
00:36:51.460 --> 00:36:52.460
business content.

839
00:36:52.460 --> 00:36:55.580
Anyways, to answer the question, I was like, is there something that I can do with this

840
00:36:55.580 --> 00:37:00.900
larger audience that can help them get started in a scalable way that would provide value

841
00:37:00.900 --> 00:37:01.900
to everybody?

842
00:37:01.900 --> 00:37:06.620
And so I, you know, I got approached by a gazillion companies probably like you do over

843
00:37:06.620 --> 00:37:10.420
the years for the audience and the access and the distribution that we have.

844
00:37:10.420 --> 00:37:13.380
And school was a company that I had been following since 2018.

845
00:37:13.380 --> 00:37:15.380
So I've known Sam for a long time.

846
00:37:15.380 --> 00:37:19.940
And I just kept watching it and just kept getting better and better and better.

847
00:37:19.940 --> 00:37:24.700
And the, it's just all I heard was good, which is all good work about because I'm so concerned

848
00:37:24.700 --> 00:37:29.180
with my reputation too that I'm like, if I, if I put anything and it's not awesome,

849
00:37:29.180 --> 00:37:30.180
you know what I mean?

850
00:37:30.180 --> 00:37:31.180
I could take a hit.

851
00:37:31.180 --> 00:37:34.860
And so that company was just compounding month over month over month, just on word of

852
00:37:34.860 --> 00:37:35.860
mouth.

853
00:37:35.860 --> 00:37:36.860
And zero marketing whatsoever.

854
00:37:36.860 --> 00:37:39.860
It had amazing customer attention in terms of people who started communities and also

855
00:37:39.940 --> 00:37:41.340
member attention people are in communities.

856
00:37:41.340 --> 00:37:43.140
So it's like people are in there getting good experience.

857
00:37:43.140 --> 00:37:46.020
People who are starting communities are getting good experience.

858
00:37:46.020 --> 00:37:51.020
And I think that there's a big movement in general like meta towards communities overall.

859
00:37:51.020 --> 00:37:54.220
And so I felt like from a macro perspective, I think it's a good.

860
00:37:54.220 --> 00:37:56.540
It was, it was well, well timed and well placed.

861
00:37:56.540 --> 00:38:00.220
And then beyond that from a long term strategic perspective, like it has network effects built

862
00:38:00.220 --> 00:38:01.220
in.

863
00:38:01.220 --> 00:38:04.340
And so even in an AI world, like I think it will, it'll do, it'll do great.

864
00:38:04.340 --> 00:38:08.100
And so for all those reasons, it was also something that would work for people who are

865
00:38:08.100 --> 00:38:09.220
just getting started.

866
00:38:09.260 --> 00:38:12.620
And so that's why I invested in school and I promoted it.

867
00:38:12.620 --> 00:38:15.980
So I thought it would, it would help the, the 60 something percent that didn't have

868
00:38:15.980 --> 00:38:16.980
businesses get started.

869
00:38:16.980 --> 00:38:21.060
And also for the 30 something percent of people who had businesses who wanted to start,

870
00:38:21.060 --> 00:38:24.740
you know, have a place that's not like an email list for all their people to house.

871
00:38:24.740 --> 00:38:28.140
I saw it as a much better option than like a discord or, do you worry when it comes

872
00:38:28.140 --> 00:38:29.140
to school?

873
00:38:29.140 --> 00:38:34.020
The one thing that I've seen in terms of a bit of a complaint, seems to be that there

874
00:38:34.020 --> 00:38:40.860
is at some level this like MLM aspect to it where I've seen schools that people promote

875
00:38:40.860 --> 00:38:42.980
that teach you how to make money on school.

876
00:38:42.980 --> 00:38:43.980
Yeah.

877
00:38:43.980 --> 00:38:44.980
So like a school for school.

878
00:38:44.980 --> 00:38:45.980
Yeah.

879
00:38:45.980 --> 00:38:48.260
And I think that's just going to, I think that's just going to happen no matter what,

880
00:38:48.260 --> 00:38:51.500
like there's, there's YouTube channels about how to make YouTube channels.

881
00:38:51.500 --> 00:38:54.820
There's, if there's anything that someone has figured out to generate a living, then

882
00:38:54.820 --> 00:38:57.700
there's going to be people who sell how to do that thing.

883
00:38:57.700 --> 00:39:00.980
And so I think if we chunk up a level, the question is, is there something wrong with

884
00:39:00.980 --> 00:39:02.780
that, right?

885
00:39:02.780 --> 00:39:05.700
And then number two, the MLM bonus, so I can break that in two parts.

886
00:39:05.700 --> 00:39:09.980
The MLM thing is just like, we have a referral commission, which is like not a very uncommon

887
00:39:09.980 --> 00:39:13.860
strategy and the internet, yeah, yeah, the internet doesn't really deal with nuance,

888
00:39:13.860 --> 00:39:17.260
but it's not like it's multi level and MLM has multiple levels and this has one, you

889
00:39:17.260 --> 00:39:21.860
refer a friend, you get a percentage, like a credit, like anything.

890
00:39:21.860 --> 00:39:23.660
If I refer you business, you probably get me 20%.

891
00:39:23.660 --> 00:39:24.660
So you know, whatever.

892
00:39:24.660 --> 00:39:26.420
But yeah, that's just because the internet doesn't deal with nuance.

893
00:39:26.420 --> 00:39:31.620
So that's the, the not MLM, the single SL, the single level marketing app that exists

894
00:39:31.620 --> 00:39:32.620
there.

895
00:39:32.620 --> 00:39:39.940
So if you have what people do with their community, we're, we're pro free speech, anti-sensorship.

896
00:39:39.940 --> 00:39:43.180
If it's legal, you can, you can have a community about it.

897
00:39:43.180 --> 00:39:45.180
You know, if you want to have a community about painting, have a community about painting,

898
00:39:45.180 --> 00:39:47.180
you want to be community about Facebook ads, have a community about Facebook ads, you

899
00:39:47.180 --> 00:39:50.540
want to be community about finding the perfect clone for you, you can have that.

900
00:39:50.540 --> 00:39:52.300
You want to have one about painting model cars, you can do that.

901
00:39:52.300 --> 00:39:53.700
You want to have about how making sick beats.

902
00:39:53.700 --> 00:39:56.420
I'm just naming all just only on the head, all different communities.

903
00:39:56.420 --> 00:39:59.580
And if you want to have one on how to make a school community profitable, we're not

904
00:39:59.580 --> 00:40:01.300
going to say, you can't start a community about that.

905
00:40:01.300 --> 00:40:05.180
Like how can we do it with millions, we have tens of millions of users, tens of millions.

906
00:40:05.180 --> 00:40:06.180
It's very big.

907
00:40:06.180 --> 00:40:07.660
It's much bigger people think it is.

908
00:40:07.660 --> 00:40:11.060
And so either you have to start saying, making this rule and that one, then you get down

909
00:40:11.060 --> 00:40:13.780
the whole rule strap where you just say, you're making me about what if you want as long

910
00:40:13.780 --> 00:40:14.780
as it's legal.

911
00:40:14.780 --> 00:40:17.500
And that's, that's how that's where we decided to draw the line.

912
00:40:17.500 --> 00:40:21.180
Should we create a community about how to podcast or just podcast it could?

913
00:40:21.180 --> 00:40:22.460
I'm sure it could.

914
00:40:22.460 --> 00:40:24.580
Using you would crush what that?

915
00:40:24.580 --> 00:40:25.580
Yeah.

916
00:40:25.580 --> 00:40:26.580
I don't.

917
00:40:26.580 --> 00:40:29.900
I don't even think about making, making content, like talking about production equipment,

918
00:40:29.900 --> 00:40:30.900
isn't it immolate?

919
00:40:30.900 --> 00:40:33.460
Researching a podcast about how to podcast.

920
00:40:33.460 --> 00:40:35.620
Then you've asked, is there anything wrong with my channel?

921
00:40:35.620 --> 00:40:36.620
I'm saying.

922
00:40:36.620 --> 00:40:37.620
Right.

923
00:40:37.620 --> 00:40:40.060
He said, and this is a great question is, what's, and, and so what?

924
00:40:40.060 --> 00:40:41.060
And what's wrong with it?

925
00:40:41.060 --> 00:40:42.060
Yeah.

926
00:40:42.060 --> 00:40:43.060
I'm going to out myself right here.

927
00:40:43.060 --> 00:40:45.660
I think there's nothing inherently wrong with an MLM.

928
00:40:45.660 --> 00:40:50.140
However, they're used in really inappropriate ways a lot of the time.

929
00:40:50.140 --> 00:40:53.180
But inherently, yeah, it's just an affiliate program.

930
00:40:53.180 --> 00:40:58.540
Or I feel where it goes wrong is people are deceptive about maybe the practices or the

931
00:40:58.540 --> 00:40:59.540
buying.

932
00:40:59.540 --> 00:41:00.540
I've done it.

933
00:41:00.540 --> 00:41:01.540
The deception.

934
00:41:01.540 --> 00:41:02.540
Yeah.

935
00:41:02.540 --> 00:41:03.540
So much.

936
00:41:03.540 --> 00:41:04.540
It's like, I can, I can say it very succinctly.

937
00:41:04.540 --> 00:41:06.540
The problem is that the promise doesn't match the deliverable.

938
00:41:06.540 --> 00:41:07.540
Okay.

939
00:41:07.540 --> 00:41:08.540
That's it.

940
00:41:08.540 --> 00:41:09.540
It's false expectations.

941
00:41:09.540 --> 00:41:10.540
That's it.

942
00:41:10.540 --> 00:41:12.180
Fundamentally, the vast majority of people who advertise, especially in the information

943
00:41:12.180 --> 00:41:14.740
space, do not advertise completely.

944
00:41:14.740 --> 00:41:17.220
And so as a result, they make promises that they can't keep.

945
00:41:17.220 --> 00:41:18.620
And so people get false, false expectations.

946
00:41:18.620 --> 00:41:22.620
That being said, I think there's anything inherently wrong about saying, I learned how to

947
00:41:22.620 --> 00:41:23.820
do this.

948
00:41:23.820 --> 00:41:26.860
I put, I put tons of hours into compiling all this stuff.

949
00:41:26.860 --> 00:41:30.140
And if you like me and you like my style of teaching, you can buy it for me in this

950
00:41:30.140 --> 00:41:31.140
video course.

951
00:41:31.140 --> 00:41:34.700
And I know you used to have one like the question is, I don't think there's anything inherently

952
00:41:34.700 --> 00:41:38.820
wrong with education or even profiting from education colleges do it.

953
00:41:38.820 --> 00:41:42.860
Why can colleges do it and give people zero ROI and no one says colleges can what some

954
00:41:42.860 --> 00:41:43.860
people do.

955
00:41:43.860 --> 00:41:46.180
But the vast majority of people still think colleges on this game.

956
00:41:46.180 --> 00:41:48.260
It's simply because they don't promise anything.

957
00:41:48.260 --> 00:41:49.260
That's it.

958
00:41:49.260 --> 00:41:50.260
That's fun.

959
00:41:50.260 --> 00:41:51.260
It just comes down to that.

960
00:41:51.260 --> 00:41:53.060
If you just don't promise anything, then you're kind of in the clear.

961
00:41:53.060 --> 00:41:56.300
If you're like, hey, I've been together a course on how I, you know, how I succeeded

962
00:41:56.300 --> 00:42:00.060
as a, as a realtor, I make no promises, whether you're not going to follow it or it's

963
00:42:00.060 --> 00:42:01.060
going to be perfect for you.

964
00:42:01.060 --> 00:42:02.580
I just share the stuff that worked for me.

965
00:42:02.580 --> 00:42:03.980
If you want to go check it out, it's whatever.

966
00:42:03.980 --> 00:42:04.980
It's over here.

967
00:42:04.980 --> 00:42:05.980
You can go check it out and buy it.

968
00:42:05.980 --> 00:42:07.180
I don't think anyone's screw this guy.

969
00:42:07.180 --> 00:42:09.420
Now some people will be because that's the internet.

970
00:42:09.420 --> 00:42:12.500
But like anybody would I would consider be reasonable?

971
00:42:12.500 --> 00:42:13.500
No.

972
00:42:13.500 --> 00:42:17.300
And I think do, you know, to a large degree, like we can't listen to everyone because

973
00:42:17.300 --> 00:42:20.220
you will have people who are just upset about you not sharing your stuff as people who

974
00:42:20.220 --> 00:42:21.500
are upset with you sharing it.

975
00:42:21.500 --> 00:42:26.500
And so my as well, I've set the people who don't pay it.

976
00:42:26.500 --> 00:42:29.540
Vegas Matt also put it really well because he was involved in one before you know who

977
00:42:29.540 --> 00:42:30.540
Vegas Matt is.

978
00:42:30.540 --> 00:42:35.340
So he's a YouTuber here in Las Vegas, massive YouTube channel and gambling, but he said

979
00:42:35.340 --> 00:42:40.620
that MLMs are effectively better because the money actually goes to the people that are

980
00:42:40.620 --> 00:42:44.220
closing the sale rather than giving it to advertisers that are just going to end in

981
00:42:44.220 --> 00:42:46.980
day people that they just take the, I mean, from a business model perspective, you take

982
00:42:46.980 --> 00:42:50.580
your advertiser, you basically take your entire allowable cost to acquire customer and

983
00:42:50.580 --> 00:42:53.860
say instead of giving that to anything, I would just give that all to my sales team.

984
00:42:53.860 --> 00:42:57.820
And then I will incentivize them recruit other sales people so that we can have a continued

985
00:42:57.820 --> 00:42:58.820
distributed base.

986
00:42:58.820 --> 00:43:02.620
So that instead of having a sales manager is getting paid a base salary and a small

987
00:43:02.620 --> 00:43:06.740
percentage of everyone's sales, it's just like all performance and having the multi-level

988
00:43:06.740 --> 00:43:10.700
structure allows you to recruit teams just like you would in a business.

989
00:43:10.700 --> 00:43:14.100
Wait, all businesses are pyramids.

990
00:43:14.100 --> 00:43:15.860
Are all businesses pyramids schemes?

991
00:43:15.860 --> 00:43:20.140
You know, come on, like it's illuminati, you know, we just say things, but no, I don't

992
00:43:20.140 --> 00:43:21.140
think there's anything here.

993
00:43:21.140 --> 00:43:26.540
I think the, where people get in trouble is making substantive claims and making false promises

994
00:43:26.540 --> 00:43:30.700
or promises that they know to not be true and the associations.

995
00:43:30.700 --> 00:43:35.100
So basically MLM has a bad brand as a bad brand.

996
00:43:35.100 --> 00:43:40.900
There's enough negative associations that people who might be otherwise really good MLMs

997
00:43:40.900 --> 00:43:42.780
still take the heat for the bad ones.

998
00:43:42.780 --> 00:43:45.700
People who sell information and education will take the heat for all the people who

999
00:43:45.700 --> 00:43:46.700
sell the bad ones.

1000
00:43:46.700 --> 00:43:48.100
And so that's the, that's the rough.

1001
00:43:48.100 --> 00:43:49.780
I don't think there's anything wrong with selling education.

1002
00:43:49.780 --> 00:43:53.220
It is interesting how deeply rooted that hatred is for a lot of people.

1003
00:43:53.220 --> 00:43:55.540
It is like the most sensitive topic for a lot of people.

1004
00:43:55.540 --> 00:43:59.860
I'm curious, are there any business models that you kind of secretly hate because they're

1005
00:43:59.860 --> 00:44:07.100
highly profitable maybe because they're like intellectually lazy or like just morally lazy

1006
00:44:07.100 --> 00:44:08.100
maybe too?

1007
00:44:08.100 --> 00:44:09.100
No.

1008
00:44:09.100 --> 00:44:10.500
You'd say anything.

1009
00:44:10.500 --> 00:44:17.220
I, I, I very much stand for the position like if it's legal, then you know, do, if someone

1010
00:44:17.220 --> 00:44:21.500
is willing to exchange money, like again, capitalism based on voluntary exchange between

1011
00:44:21.500 --> 00:44:25.260
two parties and both parties make the exchange voluntarily because they both believe they'll

1012
00:44:25.260 --> 00:44:26.260
be better off.

1013
00:44:26.260 --> 00:44:30.260
Now the belief part is where deceptive components come, come into play, right?

1014
00:44:30.260 --> 00:44:35.500
But inherently, I don't have an issue with someone make, I don't claim to have a moral

1015
00:44:35.500 --> 00:44:39.300
superiority that my way of making money is better than someone else's way of making money.

1016
00:44:39.300 --> 00:44:42.620
Now my business might be, receives is more valuable to an investor, which is a different

1017
00:44:42.620 --> 00:44:43.620
thing.

1018
00:44:43.620 --> 00:44:46.900
So if you're like, are there business models that make cash flow but don't have inherent

1019
00:44:46.900 --> 00:44:47.900
value?

1020
00:44:47.900 --> 00:44:48.900
Yeah, there's tons of those.

1021
00:44:48.900 --> 00:44:49.900
But do I see that as bad?

1022
00:44:49.900 --> 00:44:50.900
No.

1023
00:44:50.900 --> 00:44:52.100
I just see it as different.

1024
00:44:52.100 --> 00:44:53.300
And that's fun.

1025
00:44:53.300 --> 00:44:58.380
So if someone were to take school as an example and just copy it and do their own thing,

1026
00:44:58.380 --> 00:45:01.140
why do you think that business would fail?

1027
00:45:01.140 --> 00:45:02.140
No, work of facts.

1028
00:45:02.140 --> 00:45:03.380
We already have tens of millions of users.

1029
00:45:03.380 --> 00:45:04.380
It's very hard to do.

1030
00:45:04.380 --> 00:45:05.380
And what if that doesn't?

1031
00:45:05.380 --> 00:45:06.380
For the details.

1032
00:45:06.380 --> 00:45:07.380
Why doesn't someone just copy Facebook?

1033
00:45:07.620 --> 00:45:10.780
Like they could just copy the exact same people weren't there.

1034
00:45:10.780 --> 00:45:18.380
What if there's another influencer who's backing like school 2.0.com to say, it's also

1035
00:45:18.380 --> 00:45:22.820
easier said than done, you know, to copy, like there's a lot of details on how it's programmed

1036
00:45:22.820 --> 00:45:27.140
and how it works and what content gets surfaced and what algorithms run.

1037
00:45:27.140 --> 00:45:31.780
There's a lot of details on the business that make it and it's the product is so detailed

1038
00:45:31.780 --> 00:45:32.780
driven.

1039
00:45:32.780 --> 00:45:33.780
It's all the tiny things.

1040
00:45:33.780 --> 00:45:36.140
And you can copy the colors and the layout and they're there have already been plenty

1041
00:45:36.140 --> 00:45:38.740
to be moved on that but they don't go anywhere.

1042
00:45:38.740 --> 00:45:41.140
And so we can say that about any business.

1043
00:45:41.140 --> 00:45:42.140
Yeah.

1044
00:45:42.140 --> 00:45:43.940
What do you think is the best business right now?

1045
00:45:43.940 --> 00:45:48.140
Because it seems like from my perspective, just on a high level, the subscription model

1046
00:45:48.140 --> 00:45:54.780
is doing really well, charging one price for the year or break it down monthly.

1047
00:45:54.780 --> 00:45:56.100
That seems to be the new thing.

1048
00:45:56.100 --> 00:45:57.480
So what's from your perspective?

1049
00:45:57.480 --> 00:45:58.480
What changes?

1050
00:45:58.480 --> 00:45:59.480
Is that in digital?

1051
00:45:59.480 --> 00:46:00.480
A creator space?

1052
00:46:00.480 --> 00:46:01.480
Generally.

1053
00:46:01.480 --> 00:46:04.160
Every business has gone to now the subscription model.

1054
00:46:04.160 --> 00:46:05.000
I'm paying more.

1055
00:46:05.000 --> 00:46:07.840
I remember when I used to be able to buy Adobe Photoshop,

1056
00:46:07.840 --> 00:46:09.520
but a hundred bucks.

1057
00:46:09.520 --> 00:46:11.360
And now it's 30 bucks a month.

1058
00:46:11.360 --> 00:46:13.560
They're like $40 a month for the same thing.

1059
00:46:13.560 --> 00:46:14.400
Yeah.

1060
00:46:14.400 --> 00:46:15.400
Is it a rip off or if we're willing to pay for it?

1061
00:46:15.400 --> 00:46:16.400
It's just inappropriately priced.

1062
00:46:16.400 --> 00:46:17.880
I'm extremely willing to pay for it.

1063
00:46:17.880 --> 00:46:18.720
Yeah.

1064
00:46:18.720 --> 00:46:19.720
Say if anything, it's a good deal.

1065
00:46:19.720 --> 00:46:20.560
So that's Adobe.

1066
00:46:20.560 --> 00:46:21.760
If you want to sponsor like this,

1067
00:46:21.760 --> 00:46:23.880
you'll be an affiliate.

1068
00:46:23.880 --> 00:46:24.960
I would love that, man.

1069
00:46:24.960 --> 00:46:27.200
I would be shilling Adobe all the time.

1070
00:46:27.200 --> 00:46:28.040
Even it is?

1071
00:46:28.040 --> 00:46:28.880
Yeah.

1072
00:46:28.880 --> 00:46:29.880
I think you should reach out.

1073
00:46:29.880 --> 00:46:30.880
You push this into the heart.

1074
00:46:30.880 --> 00:46:31.880
Or is it?

1075
00:46:31.880 --> 00:46:32.880
Yeah.

1076
00:46:32.880 --> 00:46:33.880
It's a great deal.

1077
00:46:33.880 --> 00:46:34.880
You know, it's not expensive.

1078
00:46:34.880 --> 00:46:35.880
It's incredibly good.

1079
00:46:35.880 --> 00:46:36.880
You know, anyone with half a brain would want to buy.

1080
00:46:36.880 --> 00:46:37.880
Link down below.

1081
00:46:37.880 --> 00:46:38.880
We'll get 15 bucks.

1082
00:46:38.880 --> 00:46:39.880
You know, before you go into that,

1083
00:46:39.880 --> 00:46:42.400
I will say the biggest benefit or the best business

1084
00:46:42.400 --> 00:46:45.880
that gets shit on all the time, YouTube Premium.

1085
00:46:45.880 --> 00:46:46.880
Okay.

1086
00:46:46.880 --> 00:46:50.120
Hey, spending money for YouTube because it should be free.

1087
00:46:50.120 --> 00:46:52.120
I love YouTube Premium.

1088
00:46:52.120 --> 00:46:53.120
Love it.

1089
00:46:53.120 --> 00:46:54.120
I think it's worth every penny.

1090
00:46:54.120 --> 00:46:56.120
People just think they just project their own shirts.

1091
00:46:56.120 --> 00:46:57.120
They're like, why?

1092
00:46:57.240 --> 00:46:58.240
I shouldn't.

1093
00:46:58.240 --> 00:46:59.240
I'm like, what?

1094
00:46:59.240 --> 00:47:02.920
That YouTube should pay all the servers and all the compute

1095
00:47:02.920 --> 00:47:04.920
that they have and all the workers that work on YouTube

1096
00:47:04.920 --> 00:47:06.920
should just be free.

1097
00:47:06.920 --> 00:47:07.920
Yeah.

1098
00:47:07.920 --> 00:47:09.720
And I say, it's just this demand of the universe.

1099
00:47:09.720 --> 00:47:11.920
They're like, everything has to be given to me.

1100
00:47:11.920 --> 00:47:12.920
Or else.

1101
00:47:12.920 --> 00:47:13.920
Or else I'll be upset.

1102
00:47:13.920 --> 00:47:16.840
We make more money if people watch the ads

1103
00:47:16.840 --> 00:47:19.360
versus getting YouTube Premium and watching the video

1104
00:47:19.360 --> 00:47:20.360
without the ads.

1105
00:47:20.360 --> 00:47:21.920
I think the ads pay more.

1106
00:47:21.920 --> 00:47:22.920
All things can say.

1107
00:47:22.920 --> 00:47:25.120
YouTube claims that the premium user worth more.

1108
00:47:25.120 --> 00:47:26.120
Would you?

1109
00:47:26.120 --> 00:47:28.360
I would believe because if they're paying 15 bucks a month,

1110
00:47:28.360 --> 00:47:29.680
then you just kind of have to know.

1111
00:47:29.680 --> 00:47:30.680
Okay.

1112
00:47:30.680 --> 00:47:31.680
But then you just kind of have to do some simple math

1113
00:47:31.680 --> 00:47:33.680
and they need to watch like a million videos in a month.

1114
00:47:33.680 --> 00:47:34.680
I don't know.

1115
00:47:34.680 --> 00:47:35.680
I don't know the breakdown on that.

1116
00:47:35.680 --> 00:47:36.680
So I will answer the question that you originally asked,

1117
00:47:36.680 --> 00:47:39.360
which is why is the subscription economy like doing?

1118
00:47:39.360 --> 00:47:42.200
I'll just only answer specific to kind of creators

1119
00:47:42.200 --> 00:47:44.200
because I have a ton of obviously with school

1120
00:47:44.200 --> 00:47:46.120
and then I am being one myself.

1121
00:47:46.120 --> 00:47:50.200
I actually just think that there's never been more creators

1122
00:47:50.200 --> 00:47:53.120
and at the same time, there's never been less trust.

1123
00:47:53.120 --> 00:47:56.640
And so people don't trust other people as much.

1124
00:47:56.640 --> 00:47:59.000
And so people are consuming significantly more content

1125
00:47:59.000 --> 00:48:00.000
prior to making a purchase

1126
00:48:00.000 --> 00:48:01.240
and the purchase that they make in general,

1127
00:48:01.240 --> 00:48:04.360
the first purchases are lower ticket on average.

1128
00:48:04.360 --> 00:48:07.960
So maybe 10 years ago, people would immediately see one video

1129
00:48:07.960 --> 00:48:09.960
hop on the phone and pay $5,000 or something

1130
00:48:09.960 --> 00:48:11.600
or $10,000 or something.

1131
00:48:11.600 --> 00:48:14.760
And that's just, it's significantly less likely now

1132
00:48:14.760 --> 00:48:17.400
and they're far more likely to buy a grab a book

1133
00:48:17.400 --> 00:48:21.200
or grab a $29 thing that they can try

1134
00:48:21.200 --> 00:48:24.400
and see if the quality of the product is,

1135
00:48:24.400 --> 00:48:25.240
or quality of the community,

1136
00:48:25.240 --> 00:48:26.720
the quality of the subscription is what they,

1137
00:48:26.720 --> 00:48:29.440
what they do, it's supposed to be worth.

1138
00:48:29.440 --> 00:48:31.360
And then they're willing to pay them

1139
00:48:31.360 --> 00:48:32.200
for more expensive things.

1140
00:48:32.200 --> 00:48:35.000
So I think that what is more publicly seen

1141
00:48:35.000 --> 00:48:36.280
is the subscriptions.

1142
00:48:36.280 --> 00:48:38.980
I still think many of these businesses that do bigger

1143
00:48:38.980 --> 00:48:41.440
profit numbers tend to also sell backends

1144
00:48:41.440 --> 00:48:42.720
that are more premiumly pricey

1145
00:48:42.720 --> 00:48:44.920
either in terms of services or products or whatever.

1146
00:48:44.920 --> 00:48:46.400
But the thing that is advertised on the front

1147
00:48:46.400 --> 00:48:47.320
and for the vast majority of people,

1148
00:48:47.320 --> 00:48:48.960
kind of like you have your top of funnel shorts

1149
00:48:48.960 --> 00:48:49.680
and then you have your longs

1150
00:48:49.760 --> 00:48:52.360
and then that converts into your kind of like low ticket.

1151
00:48:52.360 --> 00:48:54.080
And then that ladders up into the,

1152
00:48:54.080 --> 00:48:56.320
5% of those people are 10% or whatever percentage

1153
00:48:56.320 --> 00:48:58.680
ascend into a higher level.

1154
00:48:58.680 --> 00:49:01.720
In terms of hiring people, how do you spot an A-player?

1155
00:49:01.720 --> 00:49:03.720
I will say that I have yet to have an A-player

1156
00:49:03.720 --> 00:49:06.240
that outknows an A-player within the first week or two.

1157
00:49:06.240 --> 00:49:07.680
So I have a science.

1158
00:49:07.680 --> 00:49:08.840
What are the science?

1159
00:49:08.840 --> 00:49:10.240
They meet so support, right?

1160
00:49:10.240 --> 00:49:11.760
They decrease the likelihood of failure.

1161
00:49:11.760 --> 00:49:14.680
So they are taking things off my plate really quickly

1162
00:49:14.680 --> 00:49:18.240
and they're proactive in terms of their

1163
00:49:18.240 --> 00:49:20.600
disobeying decision making and the actions that they take.

1164
00:49:20.600 --> 00:49:24.240
A lot of it is really just a tremendous amount of activity.

1165
00:49:24.240 --> 00:49:26.320
High activity, high alignment.

1166
00:49:26.320 --> 00:49:27.160
If you have both of this things,

1167
00:49:27.160 --> 00:49:28.360
you have somebody who's moving a lot of things

1168
00:49:28.360 --> 00:49:29.600
in the right direction and ideally,

1169
00:49:29.600 --> 00:49:31.120
you get a lot of attention back.

1170
00:49:31.120 --> 00:49:33.720
And so if my life gets worse when someone starts,

1171
00:49:33.720 --> 00:49:35.400
that's a bad sign.

1172
00:49:35.400 --> 00:49:36.840
And if my life doesn't change when they start,

1173
00:49:36.840 --> 00:49:38.120
that's also not that good of a sign either.

1174
00:49:38.120 --> 00:49:39.400
Now of course there's a little bit of onboarding

1175
00:49:39.400 --> 00:49:40.600
here now some of that, that's sure.

1176
00:49:40.600 --> 00:49:44.360
But like by and large, I want to see some dramatic changes

1177
00:49:44.360 --> 00:49:46.240
and how my time is getting allocated

1178
00:49:46.240 --> 00:49:47.080
from bringing somebody in,

1179
00:49:47.080 --> 00:49:48.960
especially if they're taking things off my plate.

1180
00:49:48.960 --> 00:49:50.480
But I think that works at all levels.

1181
00:49:50.480 --> 00:49:52.920
And what's one of the things that you still insist on doing

1182
00:49:52.920 --> 00:49:56.000
personally, even though you could outsource it?

1183
00:49:56.000 --> 00:49:58.560
Well, all the books, I write all the books,

1184
00:49:58.560 --> 00:50:01.960
I write all my emails, I write,

1185
00:50:01.960 --> 00:50:04.720
I mean, I do all the recording, tweets,

1186
00:50:04.720 --> 00:50:06.760
all the tweets are mine, all the tweets are mine.

1187
00:50:06.760 --> 00:50:09.960
Honestly, every piece of written word

1188
00:50:09.960 --> 00:50:13.040
that comes out of acquisition.com is me.

1189
00:50:13.040 --> 00:50:14.480
And that is a huge amount of work.

1190
00:50:15.440 --> 00:50:17.600
And so it's either me because they took it

1191
00:50:17.600 --> 00:50:19.520
as a transcription from a video that I talked,

1192
00:50:19.520 --> 00:50:23.920
or I wrote it, there's only one exception to that.

1193
00:50:23.920 --> 00:50:26.040
But LinkedIn, same thing, Facebook, same thing,

1194
00:50:26.040 --> 00:50:28.600
it's all, tweets are actually mine,

1195
00:50:28.600 --> 00:50:29.440
we were talking about this earlier.

1196
00:50:29.440 --> 00:50:31.720
Tweets are my biggest secret weapon

1197
00:50:31.720 --> 00:50:34.040
for how I create so much going on.

1198
00:50:34.040 --> 00:50:36.880
It's everything, it's the wellspring.

1199
00:50:36.880 --> 00:50:41.440
So the tweets are my stream of consciousness in real time.

1200
00:50:41.440 --> 00:50:44.320
And then those tweets become tweet reels,

1201
00:50:44.320 --> 00:50:46.120
they become shorts, if they're high performing,

1202
00:50:46.120 --> 00:50:47.280
I'll just say them.

1203
00:50:47.280 --> 00:50:49.160
Many of those shorts put together become longs,

1204
00:50:49.160 --> 00:50:51.880
that'll be business advice or brutally honest,

1205
00:50:51.880 --> 00:50:53.240
advice I wish I had had, things like that,

1206
00:50:53.240 --> 00:50:55.240
it's just 20, 30 tweets put together

1207
00:50:55.240 --> 00:50:56.680
with a little bit more anecdote.

1208
00:50:56.680 --> 00:50:58.720
LinkedIn posts are multiple tweets

1209
00:50:58.720 --> 00:51:00.960
along the same thing put together, Facebook, same thing.

1210
00:51:00.960 --> 00:51:02.240
So like TikTok, same thing,

1211
00:51:02.240 --> 00:51:05.160
like everything actually, and even my emails,

1212
00:51:05.160 --> 00:51:06.600
are high performing tweet concepts

1213
00:51:06.600 --> 00:51:08.240
that then get repurposed into email.

1214
00:51:08.240 --> 00:51:11.440
So everything stems from that one stream of consciousness.

1215
00:51:11.440 --> 00:51:13.360
And I think as a creator, you have to find whatever

1216
00:51:13.680 --> 00:51:16.840
that lowest friction method is for you.

1217
00:51:16.840 --> 00:51:18.600
I always used to email myself,

1218
00:51:18.600 --> 00:51:21.840
like ideas, quotes, lessons, thoughts,

1219
00:51:21.840 --> 00:51:25.080
and I used to use that as my method for making podcasts.

1220
00:51:25.080 --> 00:51:27.320
And then I just had this like realization of,

1221
00:51:27.320 --> 00:51:28.720
instead of just like emailing myself,

1222
00:51:28.720 --> 00:51:31.120
I could just email the world via tweet,

1223
00:51:31.120 --> 00:51:32.200
and I would just tweet them.

1224
00:51:32.200 --> 00:51:33.840
And it also made me a much better writer

1225
00:51:33.840 --> 00:51:36.360
because you have to be so concise with your language

1226
00:51:36.360 --> 00:51:37.520
that I think is actually improving my writing

1227
00:51:37.520 --> 00:51:38.360
from the books perspective.

1228
00:51:38.360 --> 00:51:41.440
Have you said anything that's recently gotten backlash?

1229
00:51:41.440 --> 00:51:46.520
I think I had a LinkedIn post that got taken

1230
00:51:46.520 --> 00:51:48.080
a little bit out of context.

1231
00:51:48.080 --> 00:51:50.360
So I have somebody who writes my LinkedIn,

1232
00:51:50.360 --> 00:51:54.360
but it's my words, but you took it from a podcast like this

1233
00:51:54.360 --> 00:51:56.120
and just took it there and then just took an image

1234
00:51:56.120 --> 00:51:57.880
and put it together.

1235
00:51:57.880 --> 00:51:59.800
And it was basically like,

1236
00:51:59.800 --> 00:52:02.640
hey, for 10 years, I didn't go to football games,

1237
00:52:02.640 --> 00:52:04.720
I didn't play fantasy, I didn't go out,

1238
00:52:04.720 --> 00:52:06.560
and I like skipped friends weddings,

1239
00:52:06.560 --> 00:52:10.080
do whatever it takes to get where you wanna go, right?

1240
00:52:10.080 --> 00:52:12.040
And the amount of people that were like,

1241
00:52:12.040 --> 00:52:14.400
so two different big backlashes.

1242
00:52:14.400 --> 00:52:16.280
So backlash one was just like,

1243
00:52:16.280 --> 00:52:18.320
this guy's hustle porn, like all he wants to do

1244
00:52:18.320 --> 00:52:19.920
is tell people to sacrifice,

1245
00:52:19.920 --> 00:52:21.280
and I'll address that in a second.

1246
00:52:21.280 --> 00:52:25.440
And then the other was like, what kind of life would you,

1247
00:52:25.440 --> 00:52:26.920
like I would never skip a friend's wedding,

1248
00:52:26.920 --> 00:52:29.960
like this guy's priorities are all out of whack or whatever.

1249
00:52:29.960 --> 00:52:32.440
And so both of them come down, I think,

1250
00:52:32.440 --> 00:52:35.320
kind of like that do you have an issue with somebody's business,

1251
00:52:35.320 --> 00:52:37.720
is do I have an issue with how someone lives their life?

1252
00:52:37.720 --> 00:52:41.320
No, it's like different destinations.

1253
00:52:41.320 --> 00:52:46.320
Like there's a guy who is probably a lifestyle entrepreneur

1254
00:52:46.720 --> 00:52:49.520
and likes to like talk shit about my stuff.

1255
00:52:49.520 --> 00:52:51.680
And I make in the week what he's made,

1256
00:52:51.680 --> 00:52:55.480
makes in a year, and he's a big, you know, whatever.

1257
00:52:55.480 --> 00:52:57.960
And all I can think of when I say is,

1258
00:52:57.960 --> 00:52:59.440
we have different goals, dude.

1259
00:53:00.440 --> 00:53:02.480
Like, we have different goals.

1260
00:53:03.840 --> 00:53:06.440
I don't, of course, like it's like looking at a professional body,

1261
00:53:06.440 --> 00:53:08.760
or like, he's like, well, I train twice a day,

1262
00:53:08.760 --> 00:53:10.520
and I weigh on my food.

1263
00:53:10.520 --> 00:53:13.720
And like I get massages and I do stretching,

1264
00:53:13.720 --> 00:53:15.280
and it takes me about five or six hours a day

1265
00:53:15.280 --> 00:53:17.640
to do, you know, all the bodybuilding stuff that I do.

1266
00:53:17.640 --> 00:53:19.440
And then some crossfitters, that's ridiculous.

1267
00:53:19.440 --> 00:53:20.560
I don't know, we're about three days a week.

1268
00:53:20.560 --> 00:53:22.960
This guy is trying to give you bodybuilding porn.

1269
00:53:22.960 --> 00:53:24.320
It's probably way bigger than you,

1270
00:53:24.320 --> 00:53:26.160
and he has different goals than you do.

1271
00:53:26.160 --> 00:53:29.360
And so it's just this whole idea of should, I guess,

1272
00:53:29.360 --> 00:53:31.680
if they shouldn't do that, they should do it my way.

1273
00:53:31.680 --> 00:53:33.480
Which fundamentally just is like,

1274
00:53:33.480 --> 00:53:35.680
I have my life is based on my preferences,

1275
00:53:35.720 --> 00:53:38.240
and their life is based on theirs, duh.

1276
00:53:38.240 --> 00:53:40.320
And so if you want to go to your friends' weddings,

1277
00:53:40.320 --> 00:53:41.320
by what means go to your friends' weddings?

1278
00:53:41.320 --> 00:53:42.160
I don't care.

1279
00:53:42.160 --> 00:53:43.520
If you want to have a dog, have a dog.

1280
00:53:43.520 --> 00:53:45.920
Like, I share the things, and like,

1281
00:53:45.920 --> 00:53:47.960
the one line that I repeat over and again is,

1282
00:53:47.960 --> 00:53:50.080
is my life is a documentary, not a sermon.

1283
00:53:50.080 --> 00:53:52.520
I'm not telling people to do things the way I do them.

1284
00:53:52.520 --> 00:53:54.280
I just share what has worked for me.

1285
00:53:54.280 --> 00:53:55.760
And if it works for you, great, and if it doesn't,

1286
00:53:55.760 --> 00:53:57.560
I love you, I love you all to say.

1287
00:53:57.560 --> 00:54:00.120
Where I see a lot of the backlash is just because

1288
00:54:00.120 --> 00:54:02.360
it comes off as dogma for everybody,

1289
00:54:02.360 --> 00:54:04.040
but if you added the stipulation of to those

1290
00:54:04.040 --> 00:54:05.600
that want to build a successful business,

1291
00:54:05.600 --> 00:54:07.040
but that's also not necessarily,

1292
00:54:07.040 --> 00:54:08.800
you don't need decater to the people

1293
00:54:08.800 --> 00:54:10.280
that aren't going to listen to that.

1294
00:54:10.280 --> 00:54:12.760
You put long disclosures at the end of every one of your posts.

1295
00:54:12.760 --> 00:54:14.760
I can't, if I put all the disclosures in my tweets,

1296
00:54:14.760 --> 00:54:17.080
I wouldn't have tweets out just out disclosures.

1297
00:54:17.080 --> 00:54:19.320
So it's one, I think the ball said something about this,

1298
00:54:19.320 --> 00:54:23.280
but basically it's like, for a post to get reached,

1299
00:54:23.280 --> 00:54:25.600
it will have to have some sort of level of polarity,

1300
00:54:25.600 --> 00:54:27.040
and to have a level of polarity,

1301
00:54:27.040 --> 00:54:28.720
you have to remove context.

1302
00:54:28.720 --> 00:54:31.040
And so it's basically like you can have complete context

1303
00:54:31.040 --> 00:54:32.040
and no one can see it,

1304
00:54:32.040 --> 00:54:34.720
or you can be willing to stand on one line of gray and say,

1305
00:54:34.720 --> 00:54:38.200
no, for me, if more people were willing

1306
00:54:38.200 --> 00:54:40.480
to delay gratification a little longer,

1307
00:54:40.480 --> 00:54:41.640
because they saw some of my stuff

1308
00:54:41.640 --> 00:54:45.040
rather than take immediate reward, I can look at that.

1309
00:54:45.040 --> 00:54:45.880
It's interesting.

1310
00:54:45.880 --> 00:54:49.520
Every time we talk to you, you're, you always say,

1311
00:54:49.520 --> 00:54:50.760
oh yeah, I recently did this.

1312
00:54:50.760 --> 00:54:52.040
I recently evolved this.

1313
00:54:52.040 --> 00:54:54.000
I have since developed this.

1314
00:54:54.000 --> 00:54:56.960
You always have something that you had just done.

1315
00:54:56.960 --> 00:54:58.200
Most of the time, oddly enough,

1316
00:54:58.200 --> 00:55:00.960
it's not even adding things, it's eliminating things.

1317
00:55:00.960 --> 00:55:02.880
So that usually words are not doing.

1318
00:55:03.040 --> 00:55:06.040
Or yeah, making your criteria more strict.

1319
00:55:06.040 --> 00:55:09.600
What's something right now that you're currently working on

1320
00:55:09.600 --> 00:55:11.760
and maybe you don't have full clarity of it,

1321
00:55:11.760 --> 00:55:13.720
but you're seeking clarity?

1322
00:55:13.720 --> 00:55:15.560
Well, I mean, how I'm gonna watch my next book

1323
00:55:15.560 --> 00:55:17.160
is something that I'm thinking about

1324
00:55:17.160 --> 00:55:18.440
just from a timing perspective,

1325
00:55:18.440 --> 00:55:20.920
so that's something I'm thinking about.

1326
00:55:20.920 --> 00:55:23.240
A lot, honestly, a lot of my attention goes towards

1327
00:55:23.240 --> 00:55:25.000
what I'm gonna try not to do.

1328
00:55:25.000 --> 00:55:28.840
And so it's an accurate observation.

1329
00:55:28.840 --> 00:55:29.840
Because I mean, if you listen to,

1330
00:55:29.840 --> 00:55:31.480
you listen to all the grades, you listen to jobs,

1331
00:55:31.480 --> 00:55:34.120
you listen to basas, you listen to Elon,

1332
00:55:34.120 --> 00:55:35.640
for entrepreneurial grades.

1333
00:55:35.640 --> 00:55:37.040
It's like they all talk about focus

1334
00:55:37.040 --> 00:55:38.640
because it's so hard to do.

1335
00:55:38.640 --> 00:55:40.200
It's so hard because the bigger you get,

1336
00:55:40.200 --> 00:55:43.760
the more juicy and tantalizing the opportunities become.

1337
00:55:43.760 --> 00:55:46.000
And so you have to just be like,

1338
00:55:46.000 --> 00:55:48.960
nope, we're just gonna keep doing this thing

1339
00:55:48.960 --> 00:55:50.440
that I know all the pains of

1340
00:55:50.440 --> 00:55:52.600
and we're just going to confront the issues we have

1341
00:55:52.600 --> 00:55:54.320
and we're gonna work through them one at a time when it's off.

1342
00:55:54.320 --> 00:55:56.880
But there's this amazing thing that could be fast and easy

1343
00:55:56.880 --> 00:55:58.400
and it's just fast and easy

1344
00:55:58.400 --> 00:55:59.640
because I don't know enough about it.

1345
00:55:59.640 --> 00:56:00.480
And I just have to,

1346
00:56:00.560 --> 00:56:02.920
I've just been burned enough times jumping over that bridge

1347
00:56:02.920 --> 00:56:04.920
to know that like the grass is greener,

1348
00:56:04.920 --> 00:56:06.040
I just don't know enough.

1349
00:56:06.040 --> 00:56:07.560
And the fact that I think it's attractive

1350
00:56:07.560 --> 00:56:09.080
means I don't know enough.

1351
00:56:09.080 --> 00:56:11.800
And so 2024 was the first time in my life

1352
00:56:11.800 --> 00:56:13.560
where I've not had FOMO

1353
00:56:13.560 --> 00:56:15.320
and that was a first my whole career

1354
00:56:15.320 --> 00:56:17.240
where I didn't have a moment where I was like,

1355
00:56:17.240 --> 00:56:19.040
I should be doing that instead of this.

1356
00:56:19.040 --> 00:56:20.040
I've been doing this,

1357
00:56:20.040 --> 00:56:21.640
I've been the entrepreneur game for a minute.

1358
00:56:21.640 --> 00:56:23.880
And that was, it was only like I realized

1359
00:56:23.880 --> 00:56:24.880
that in retrospect I was like,

1360
00:56:24.880 --> 00:56:25.720
that was an accomplishment.

1361
00:56:25.720 --> 00:56:26.720
That was a huge win for me

1362
00:56:26.720 --> 00:56:29.640
because I've always had that like a buddy of mine,

1363
00:56:29.640 --> 00:56:30.920
close friend of mine,

1364
00:56:30.920 --> 00:56:34.640
did like $50 million in net earnings in Q4

1365
00:56:34.640 --> 00:56:36.320
just from trading crypto.

1366
00:56:36.320 --> 00:56:38.960
No employees, just traded crypto

1367
00:56:38.960 --> 00:56:40.600
made 50 million in profit.

1368
00:56:40.600 --> 00:56:44.560
And I remember thinking in that moment,

1369
00:56:44.560 --> 00:56:48.160
I was like, good for you man, no idea how you do it.

1370
00:56:48.160 --> 00:56:49.480
Don't want to know.

1371
00:56:49.480 --> 00:56:50.960
I'm going to keep doing my thing.

1372
00:56:50.960 --> 00:56:52.800
But at so many other points in my career

1373
00:56:52.800 --> 00:56:53.960
I would have been like,

1374
00:56:53.960 --> 00:56:55.400
oh my God, teach me what you're like.

1375
00:56:55.400 --> 00:56:56.240
I want to learn what you're doing.

1376
00:56:56.240 --> 00:56:58.320
And I would complete taking my off the ball.

1377
00:56:58.320 --> 00:56:59.160
And the thing is,

1378
00:56:59.160 --> 00:57:01.480
I think I've gotten this snowball

1379
00:57:01.480 --> 00:57:02.760
that's finally started to roll.

1380
00:57:02.760 --> 00:57:03.600
And I say this now,

1381
00:57:03.600 --> 00:57:05.800
hopefully knock on wood like it'll stay that way

1382
00:57:05.800 --> 00:57:07.400
that I'll manifest it.

1383
00:57:07.400 --> 00:57:08.240
Teaching.

1384
00:57:08.240 --> 00:57:12.880
I hope that I can stick with it

1385
00:57:12.880 --> 00:57:15.160
and because I continue to get rewarded

1386
00:57:15.160 --> 00:57:16.240
for sticking with it.

1387
00:57:16.240 --> 00:57:17.240
And it's been the hard,

1388
00:57:17.240 --> 00:57:19.160
like acquisition.com by duration

1389
00:57:19.160 --> 00:57:20.920
is the hardest single business

1390
00:57:20.920 --> 00:57:21.960
that I've,

1391
00:57:21.960 --> 00:57:24.200
the longest duration that I've only done one thing.

1392
00:57:24.200 --> 00:57:25.560
So that's been pretty cool.

1393
00:57:25.560 --> 00:57:27.360
Besides Jack's mom.

1394
00:57:27.400 --> 00:57:28.880
Okay, we're cutting that.

1395
00:57:28.880 --> 00:57:29.880
Yeah, why?

1396
00:57:29.880 --> 00:57:30.720
She was amazing.

1397
00:57:30.720 --> 00:57:31.560
She didn't tell you?

1398
00:57:31.560 --> 00:57:32.760
No, she told me all about it, actually.

1399
00:57:32.760 --> 00:57:34.640
I think that she told you to call me dad.

1400
00:57:34.640 --> 00:57:35.480
Yeah, I think you are.

1401
00:57:35.480 --> 00:57:36.320
I think you,

1402
00:57:37.760 --> 00:57:39.520
I think I'm entitled to some,

1403
00:57:40.640 --> 00:57:41.640
am I in the will?

1404
00:57:42.960 --> 00:57:44.280
You took that look at you.

1405
00:57:44.280 --> 00:57:46.160
Once you hit a billion, you're laugh.

1406
00:57:46.160 --> 00:57:47.760
So it's starting to do a gazeless laugh.

1407
00:57:47.760 --> 00:57:48.920
A gazeless laugh?

1408
00:57:48.920 --> 00:57:49.760
Yeah.

1409
00:57:51.400 --> 00:57:52.600
Gosh, that completely threw me out.

1410
00:57:52.600 --> 00:57:53.440
I had something.

1411
00:57:53.440 --> 00:57:54.280
So she said to me.

1412
00:57:54.280 --> 00:57:55.920
I had a missile in the cannon.

1413
00:57:56.880 --> 00:57:57.720
That's all stuff.

1414
00:57:57.720 --> 00:57:58.720
Yeah.

1415
00:58:02.920 --> 00:58:04.400
All right, that was a good snowball.

1416
00:58:04.400 --> 00:58:06.680
Snowball is rolling up.

1417
00:58:06.680 --> 00:58:08.080
I hope that I could stay focused

1418
00:58:08.080 --> 00:58:09.480
for an extended period of time.

1419
00:58:09.480 --> 00:58:10.240
Yeah.

1420
00:58:10.240 --> 00:58:13.080
That sounds like something that

1421
00:58:13.080 --> 00:58:15.440
Graham and I need to hear exactly.

1422
00:58:15.440 --> 00:58:17.840
Because we're so focused on making the content.

1423
00:58:17.840 --> 00:58:18.760
And unfortunately,

1424
00:58:18.760 --> 00:58:20.960
like most of our revenue comes from the sponsors.

1425
00:58:20.960 --> 00:58:21.960
Yeah.

1426
00:58:21.960 --> 00:58:22.960
And so we're able to travel around the world,

1427
00:58:22.960 --> 00:58:24.520
we're able to spend money on the flights

1428
00:58:24.520 --> 00:58:26.120
and accommodations and the crazy...

1429
00:58:26.120 --> 00:58:27.120
The washroom.

1430
00:58:27.120 --> 00:58:28.120
The dripping in the air.

1431
00:58:28.120 --> 00:58:29.120
The crazy $15 deal.

1432
00:58:29.120 --> 00:58:29.960
We wagging.

1433
00:58:29.960 --> 00:58:30.800
Yeah, the cheap wagging.

1434
00:58:30.800 --> 00:58:32.440
We're able to do what we do

1435
00:58:32.440 --> 00:58:34.000
because of the sponsors.

1436
00:58:34.000 --> 00:58:35.800
And right now it's enough.

1437
00:58:35.800 --> 00:58:37.120
But we want to always be improving.

1438
00:58:37.120 --> 00:58:38.160
And so now we're thinking like,

1439
00:58:38.160 --> 00:58:40.200
well, what if we created a product or a service?

1440
00:58:40.200 --> 00:58:42.320
And we're always having discussions.

1441
00:58:42.320 --> 00:58:43.760
About how we can do that.

1442
00:58:43.760 --> 00:58:45.440
But at some point, I always wonder

1443
00:58:45.440 --> 00:58:47.760
if we just focus on making better content

1444
00:58:47.760 --> 00:58:50.000
that we can get better like higher paying sponsors,

1445
00:58:50.000 --> 00:58:51.240
same sponsor if you love the sponsor.

1446
00:58:51.240 --> 00:58:52.960
Higher paying sponsors

1447
00:58:52.960 --> 00:58:54.080
because we're getting more views.

1448
00:58:54.160 --> 00:58:56.120
And it's like a cycle because of that.

1449
00:58:56.120 --> 00:58:57.760
But part of me also wonder

1450
00:58:57.760 --> 00:59:00.160
is should we focus our efforts in something else?

1451
00:59:00.160 --> 00:59:02.880
My thought with that is that I am happy

1452
00:59:02.880 --> 00:59:04.960
also doing what we're doing now.

1453
00:59:04.960 --> 00:59:08.120
And I kind of worry that we're good at this thing.

1454
00:59:08.120 --> 00:59:08.960
If we don't take our...

1455
00:59:08.960 --> 00:59:09.800
Well, I am.

1456
00:59:09.800 --> 00:59:10.640
I'm thrilled.

1457
00:59:10.640 --> 00:59:13.280
We don't, but if we take the eye off what we're good at.

1458
00:59:13.280 --> 00:59:15.160
Now, are we just adding more onto the plate

1459
00:59:15.160 --> 00:59:18.000
where we don't need to or we have a really great balance

1460
00:59:18.000 --> 00:59:20.160
and a great life and things are going well?

1461
00:59:20.160 --> 00:59:21.480
And if we're just trying to create something

1462
00:59:21.480 --> 00:59:22.640
for the sake of creating something

1463
00:59:22.680 --> 00:59:25.680
and maybe it won't be perfectly terrific.

1464
00:59:25.680 --> 00:59:26.960
You know, right now if we're just focusing

1465
00:59:26.960 --> 00:59:28.920
on making the best content for you guys,

1466
00:59:28.920 --> 00:59:32.120
one's watching, then hopefully it's a pretty good product.

1467
00:59:32.120 --> 00:59:34.440
Well, I have so many thoughts on this.

1468
00:59:34.440 --> 00:59:35.440
Do we have five minutes?

1469
00:59:35.440 --> 00:59:38.480
Cause I think I have a very good answer for this.

1470
00:59:38.480 --> 00:59:42.360
So basically I see this as a spectrum.

1471
00:59:42.360 --> 00:59:44.280
So it's a continuum that exists for...

1472
00:59:44.280 --> 00:59:45.640
And this is specific for creators

1473
00:59:45.640 --> 00:59:47.360
in terms of how to monetize.

1474
00:59:47.360 --> 00:59:50.840
And so it's basically a spectrum that has risk

1475
00:59:50.880 --> 00:59:53.480
and capital and effort kind of on either side.

1476
00:59:53.480 --> 00:59:57.400
So like low risk, low capital effort, high risk, high capital, high effort.

1477
00:59:57.400 --> 00:59:59.240
So on the, all the way to the left,

1478
00:59:59.240 --> 01:00:00.440
you have sponsorships, right?

1479
01:00:00.440 --> 01:00:01.640
Which is what you're doing now.

1480
01:00:01.640 --> 01:00:03.960
Cool. You make money from doing the same thing.

1481
01:00:03.960 --> 01:00:05.120
One degree to the right of that would be

1482
01:00:05.120 --> 01:00:06.200
like an affiliate relationship.

1483
01:00:06.200 --> 01:00:08.720
Adobe says, hey, we'll give you 20% of all of them lifetime.

1484
01:00:08.720 --> 01:00:11.520
So, okay, go. Adobe, hit them up.

1485
01:00:11.520 --> 01:00:13.640
You have an affiliate relationship.

1486
01:00:13.640 --> 01:00:15.360
The next is when it starts to get a little bit,

1487
01:00:15.360 --> 01:00:18.280
you have your drop ship, right?

1488
01:00:18.280 --> 01:00:21.200
Your white label, you find somebody who just puts,

1489
01:00:21.200 --> 01:00:22.680
and you did this with a coffee, I think,

1490
01:00:22.680 --> 01:00:23.520
back in the day, right?

1491
01:00:23.520 --> 01:00:24.360
You have that kind of middle ground.

1492
01:00:24.360 --> 01:00:25.400
So somebody else can manage everything.

1493
01:00:25.400 --> 01:00:27.040
I'm just gonna promote it, but I'm gonna own the brand.

1494
01:00:27.040 --> 01:00:28.920
And that's that.

1495
01:00:28.920 --> 01:00:30.600
The next degree here is where you have,

1496
01:00:30.600 --> 01:00:32.200
you find an existing business

1497
01:00:32.200 --> 01:00:34.680
where you can negotiate some percentage

1498
01:00:34.680 --> 01:00:35.800
of equity in the business

1499
01:00:35.800 --> 01:00:38.480
and ideally distributions into royalties,

1500
01:00:38.480 --> 01:00:41.280
which I am big advocate for creators to do both

1501
01:00:41.280 --> 01:00:46.280
because you have costs associated with running your business,

1502
01:00:46.280 --> 01:00:48.040
your side of the marketing, right?

1503
01:00:48.040 --> 01:00:49.240
And the business makes money

1504
01:00:49.240 --> 01:00:51.480
because it's monetizing with whatever traffic you're sending,

1505
01:00:51.480 --> 01:00:52.800
but you need to keep advertising.

1506
01:00:52.800 --> 01:00:54.480
So having some, either, you know,

1507
01:00:54.480 --> 01:00:56.480
profit share or some royalty on top line

1508
01:00:56.480 --> 01:00:58.640
or some sort of, some sort of casual stonies to come back

1509
01:00:58.640 --> 01:00:59.680
is not all companies sell.

1510
01:00:59.680 --> 01:01:01.080
Actually, the vast majority don't sell.

1511
01:01:01.080 --> 01:01:04.720
And so I think it balances some of the risk for a creator,

1512
01:01:04.720 --> 01:01:05.880
but that would be a minority deal,

1513
01:01:05.880 --> 01:01:08.600
especially with a company or a product that you really like.

1514
01:01:08.600 --> 01:01:10.600
And so if Adobe were smaller

1515
01:01:10.600 --> 01:01:13.200
and would give you a percentage of, you know, the company,

1516
01:01:13.200 --> 01:01:15.720
that would be one where it's, and ideally, this is,

1517
01:01:15.760 --> 01:01:19.280
I mean, this is me turning tables and speaking to you as an investor.

1518
01:01:19.280 --> 01:01:21.360
It's the best is when you can write a check too.

1519
01:01:21.360 --> 01:01:23.680
Because then it's, there's no expectations.

1520
01:01:23.680 --> 01:01:25.480
I'm gonna promote this because I believe in it

1521
01:01:25.480 --> 01:01:26.560
and because I want it to grow

1522
01:01:26.560 --> 01:01:28.280
and I want to get a good crazy return

1523
01:01:28.280 --> 01:01:29.720
on the money that I put into it.

1524
01:01:29.720 --> 01:01:31.880
And so you'll have some blend that's gonna,

1525
01:01:31.880 --> 01:01:34.040
that of that deal, but usually for a minority stake

1526
01:01:34.040 --> 01:01:35.960
and maybe some performance tranches that kick in

1527
01:01:35.960 --> 01:01:37.720
based on, you know, how well you do it.

1528
01:01:37.720 --> 01:01:40.040
And then the final one, the final frontier

1529
01:01:40.040 --> 01:01:42.120
is where you actually do everything yourself.

1530
01:01:42.120 --> 01:01:43.920
Like the whole thing souped nuts

1531
01:01:43.920 --> 01:01:45.640
is like you're starting a business.

1532
01:01:45.640 --> 01:01:48.440
That's, you know, Jimmy with the feastables, right?

1533
01:01:48.440 --> 01:01:50.520
Like he's really just starting a chocolate thing

1534
01:01:50.520 --> 01:01:52.600
and finding cocoa nibs in Africa

1535
01:01:52.600 --> 01:01:54.400
and doing all this stuff, right?

1536
01:01:54.400 --> 01:01:59.040
And so the upside is typically higher on this side,

1537
01:01:59.040 --> 01:02:01.360
lower on this side in terms of the enterprise value

1538
01:02:01.360 --> 01:02:03.400
of, you know, what you're promoting.

1539
01:02:03.400 --> 01:02:06.000
But so is the risk and the difficulty.

1540
01:02:06.000 --> 01:02:09.080
And the idea that I think a lot of people miss out on was like,

1541
01:02:09.080 --> 01:02:11.040
it's so much about the partners that you're bringing in

1542
01:02:11.040 --> 01:02:13.240
on this side that they have to, in my opinion,

1543
01:02:13.240 --> 01:02:14.680
for a true partnership to work,

1544
01:02:14.680 --> 01:02:17.600
they have to be able to be successful without you.

1545
01:02:17.600 --> 01:02:19.520
And if they're already growing, they're already successful.

1546
01:02:19.520 --> 01:02:21.320
This is like school, like schools, schools

1547
01:02:21.320 --> 01:02:22.320
will be successful either way.

1548
01:02:22.320 --> 01:02:25.080
I just want to pull the future towards us faster.

1549
01:02:25.080 --> 01:02:28.280
You need a partner who is as good as you are or better.

1550
01:02:28.280 --> 01:02:30.000
Ideally, just amazing at that thing

1551
01:02:30.000 --> 01:02:31.000
and you're amazing at this thing

1552
01:02:31.000 --> 01:02:32.280
and then it's like the sum of the parts

1553
01:02:32.280 --> 01:02:34.240
is what is where the magic happens.

1554
01:02:34.240 --> 01:02:36.520
But those are basic, that's basically the continuum.

1555
01:02:36.520 --> 01:02:38.040
But if you're going to do anything to the right

1556
01:02:38.040 --> 01:02:39.120
of the right of center there

1557
01:02:39.120 --> 01:02:40.800
and you're not just, I mean, they're sponsoring

1558
01:02:40.800 --> 01:02:43.040
or doing an affiliate deal, I think you can do,

1559
01:02:43.040 --> 01:02:45.360
I think that the best deals is kind of like the school deal

1560
01:02:45.360 --> 01:02:49.960
where you put cash in, you buy a big stake,

1561
01:02:49.960 --> 01:02:52.200
you also promote, like those are deals,

1562
01:02:52.200 --> 01:02:53.880
I think again, in terms of behavior,

1563
01:02:53.880 --> 01:02:55.680
what is this going to change about what I do?

1564
01:02:55.680 --> 01:02:57.560
And I would like to do deals that change

1565
01:02:57.560 --> 01:02:59.320
has a little or nothing about what I do.

1566
01:02:59.320 --> 01:03:00.800
If I'm always going to make content anyways

1567
01:03:00.800 --> 01:03:02.080
and I'm already getting two thirds of people

1568
01:03:02.080 --> 01:03:03.880
who want to start a business,

1569
01:03:03.880 --> 01:03:05.680
then I don't need to change anything.

1570
01:03:05.680 --> 01:03:06.760
Now, it's still high leverage

1571
01:03:06.760 --> 01:03:08.480
because I just point them in a direction and I'm like,

1572
01:03:08.480 --> 01:03:10.160
hey, I vetted this, I think it's awesome.

1573
01:03:10.160 --> 01:03:11.560
I think it's a really good product, check it out

1574
01:03:11.600 --> 01:03:12.400
and it's free trial.

1575
01:03:12.400 --> 01:03:13.880
You don't wanna get canceled, right?

1576
01:03:13.880 --> 01:03:16.960
That is basically my, and I would use that

1577
01:03:16.960 --> 01:03:18.920
if I were you guys as my decision making variable,

1578
01:03:18.920 --> 01:03:21.960
which is you at both accurately said it,

1579
01:03:21.960 --> 01:03:23.320
we were really good at this thing

1580
01:03:23.320 --> 01:03:25.040
and the more we do this thing, we better we get at it,

1581
01:03:25.040 --> 01:03:26.360
we get more views, we get the sponsors

1582
01:03:26.360 --> 01:03:28.080
to continue to grow, fine.

1583
01:03:28.080 --> 01:03:29.480
We can do some of these other deals

1584
01:03:29.480 --> 01:03:31.720
as long as it changes nothing about what we do.

1585
01:03:31.720 --> 01:03:33.600
And so I think that's the frame

1586
01:03:33.600 --> 01:03:35.120
that you have to enter those conversations with,

1587
01:03:35.120 --> 01:03:36.880
which is I am already sponsoring,

1588
01:03:36.880 --> 01:03:38.920
so me slotting your product in,

1589
01:03:38.920 --> 01:03:40.280
which I also happen to own,

1590
01:03:40.280 --> 01:03:42.120
a piece of and get some kickback on,

1591
01:03:42.120 --> 01:03:43.920
it doesn't change anything about what we do,

1592
01:03:43.920 --> 01:03:45.920
but then that gives you some long-term upside.

1593
01:03:45.920 --> 01:03:47.280
And maybe a higher distribution.

1594
01:03:47.280 --> 01:03:48.600
This would be really interesting.

1595
01:03:48.600 --> 01:03:50.280
How about this for anybody watching,

1596
01:03:50.280 --> 01:03:52.720
if you have a business that you think would align

1597
01:03:52.720 --> 01:03:55.960
with what we're doing and you want the distribution,

1598
01:03:55.960 --> 01:03:59.120
I'd be really interested to see who reaches out for this.

1599
01:03:59.120 --> 01:04:00.560
That's a great idea.

1600
01:04:00.560 --> 01:04:01.800
And also Adobe.

1601
01:04:01.800 --> 01:04:06.000
And also, if you guys, you guys would be interested

1602
01:04:06.000 --> 01:04:07.520
if we were to create, because Graham and I

1603
01:04:07.560 --> 01:04:09.280
have thought about this and we've helped a lot of people

1604
01:04:09.280 --> 01:04:13.000
just in consulting with content, specifically podcasting.

1605
01:04:13.000 --> 01:04:15.000
Now, you guys think that there would be demand for that.

1606
01:04:15.000 --> 01:04:16.120
So that's something that you'd want to see.

1607
01:04:16.120 --> 01:04:17.960
If we went all the way to depth pre-production,

1608
01:04:17.960 --> 01:04:20.560
production, post-production, research, et cetera,

1609
01:04:20.560 --> 01:04:21.400
let me know.

1610
01:04:21.400 --> 01:04:22.760
Kind of be open to that too.

1611
01:04:22.760 --> 01:04:24.160
Yeah, I tried something on my own.

1612
01:04:24.160 --> 01:04:25.480
I'll just talk about it briefly.

1613
01:04:25.480 --> 01:04:28.160
I put a little feeler out there for a mention,

1614
01:04:28.160 --> 01:04:31.200
not a mentorship, like a networking community.

1615
01:04:31.200 --> 01:04:32.360
And I was shocked.

1616
01:04:32.360 --> 01:04:35.280
We got thousands of people who reached out who said,

1617
01:04:35.280 --> 01:04:36.800
I just want to be a part of a network,

1618
01:04:36.800 --> 01:04:38.160
like other entrepreneurs.

1619
01:04:38.160 --> 01:04:40.360
We started on school perhaps.

1620
01:04:40.360 --> 01:04:42.440
No, so we started at the very top of the list,

1621
01:04:42.440 --> 01:04:44.000
people who made more than 10 million year.

1622
01:04:44.000 --> 01:04:46.280
And I just didn't even think of,

1623
01:04:46.280 --> 01:04:48.080
I just wanted to go and talk to these people.

1624
01:04:48.080 --> 01:04:49.840
I probably talked to 20 people.

1625
01:04:49.840 --> 01:04:52.800
It's the least scalable thing I could possibly do

1626
01:04:52.800 --> 01:04:55.560
because I'm like talking one to one with certain people.

1627
01:04:55.560 --> 01:04:56.400
It's not.

1628
01:04:56.400 --> 01:04:57.560
Okay.

1629
01:04:57.560 --> 01:04:59.120
Not when people don't go up again.

1630
01:04:59.120 --> 01:05:00.800
I see that I focus in his eyes.

1631
01:05:00.800 --> 01:05:02.240
They'll go up against them.

1632
01:05:02.240 --> 01:05:05.680
But so far, we got a group of a dozen people who do a return.

1633
01:05:06.400 --> 01:05:09.640
And it's just the coolest group of,

1634
01:05:09.640 --> 01:05:11.480
it's something magic when you're,

1635
01:05:11.480 --> 01:05:14.400
when we have a small community like that versus something

1636
01:05:14.400 --> 01:05:15.240
that's too big.

1637
01:05:15.240 --> 01:05:16.080
I'm getting these new communities.

1638
01:05:16.080 --> 01:05:18.360
But I say when it's not scalable in the sense

1639
01:05:18.360 --> 01:05:20.680
that once you get, it seems like from,

1640
01:05:20.680 --> 01:05:21.920
I've spoken with quite a few people on this.

1641
01:05:21.920 --> 01:05:23.840
Once you get more than 30 or 40 people,

1642
01:05:23.840 --> 01:05:25.680
you start to lose that one-on-one connection

1643
01:05:25.680 --> 01:05:26.960
that made it special in the beginning.

1644
01:05:26.960 --> 01:05:28.680
It's really about subgroups.

1645
01:05:28.680 --> 01:05:30.600
So if you look at, is it scalable?

1646
01:05:30.600 --> 01:05:31.760
At the current model now,

1647
01:05:31.760 --> 01:05:33.560
but our community is scalable for sure.

1648
01:05:33.560 --> 01:05:35.520
So if you look at, well, you look at why combinator,

1649
01:05:35.520 --> 01:05:36.900
They have a much larger community than that.

1650
01:05:36.900 --> 01:05:37.740
That's really cool.

1651
01:05:37.740 --> 01:05:40.200
If you look at this set on this to Vistage,

1652
01:05:40.200 --> 01:05:41.640
which is a community model.

1653
01:05:41.640 --> 01:05:43.680
If you look at YPO, if you're familiar with them,

1654
01:05:43.680 --> 01:05:45.200
young, professional organization,

1655
01:05:45.200 --> 01:05:48.160
they run, they're national, they have chapters,

1656
01:05:48.160 --> 01:05:50.640
and they keep the forums to eight people.

1657
01:05:50.640 --> 01:05:52.720
And so that's how they keep the,

1658
01:05:52.720 --> 01:05:54.240
so you have access to the whole network

1659
01:05:54.240 --> 01:05:55.840
because you're like, oh, I'm also a YPO person.

1660
01:05:55.840 --> 01:05:58.600
I got vetted, I'm above a certain level,

1661
01:05:58.600 --> 01:05:59.520
so you have that kind of cred,

1662
01:05:59.520 --> 01:06:01.640
but like the actual super close knit group

1663
01:06:01.640 --> 01:06:04.400
is like eight people and they meet in person.

1664
01:06:04.400 --> 01:06:05.680
And so that's why I think they're like,

1665
01:06:05.680 --> 01:06:08.720
I think for sure there's demand for something like that,

1666
01:06:08.720 --> 01:06:10.400
because people want, all successful people

1667
01:06:10.400 --> 01:06:11.520
want to be around other successful people

1668
01:06:11.520 --> 01:06:13.280
because it's really lowly.

1669
01:06:13.280 --> 01:06:14.720
That was the one thing I was surprised about

1670
01:06:14.720 --> 01:06:17.680
when I was speaking with all of those people,

1671
01:06:17.680 --> 01:06:20.920
only one of them said that their goal was to make more money,

1672
01:06:20.920 --> 01:06:22.000
only one.

1673
01:06:22.000 --> 01:06:24.400
And that meant that maybe 30 people,

1674
01:06:24.400 --> 01:06:26.160
I don't care about making more money,

1675
01:06:26.160 --> 01:06:27.760
all I care about is meeting other people

1676
01:06:27.760 --> 01:06:31.200
who share the similar problems that I've gone through.

1677
01:06:31.200 --> 01:06:33.760
And most of the problems are pretty surface level,

1678
01:06:33.760 --> 01:06:35.600
as it seems like, and it's like tax planning,

1679
01:06:35.600 --> 01:06:37.880
estate planning, raising a family,

1680
01:06:37.880 --> 01:06:39.480
random business issues that come up,

1681
01:06:39.480 --> 01:06:42.160
insurance, whatever, things like this.

1682
01:06:42.160 --> 01:06:45.120
But I was shocked how common everybody,

1683
01:06:45.120 --> 01:06:47.480
all this, the commonality is between average.

1684
01:06:47.480 --> 01:06:50.760
Human problems have existed for a human lifetime, so.

1685
01:06:50.760 --> 01:06:52.520
So I thought that was interesting.

1686
01:06:52.520 --> 01:06:55.120
What is your experience of loneliness?

1687
01:06:56.240 --> 01:06:58.440
I really like being alone,

1688
01:06:58.440 --> 01:07:01.720
so I don't get super lonely to be super candid with you.

1689
01:07:01.720 --> 01:07:04.880
I think there are experiences that feel isolating

1690
01:07:04.880 --> 01:07:06.440
where you're like, no one else is dealing with this,

1691
01:07:06.440 --> 01:07:08.960
but usually isolation is kind of like shame,

1692
01:07:08.960 --> 01:07:10.280
it only exists in the dark.

1693
01:07:10.280 --> 01:07:12.640
If you go out and say, hey, I'm dealing with this thing

1694
01:07:12.640 --> 01:07:15.480
with my marriage, I'm dealing with this thing with my weight,

1695
01:07:15.480 --> 01:07:16.800
I'm dealing with this thing in business,

1696
01:07:16.800 --> 01:07:18.840
there's a zillion other people who are dealing with that.

1697
01:07:18.840 --> 01:07:20.920
My mom used to say this thing that I really liked a lot.

1698
01:07:20.920 --> 01:07:24.480
She said the news is always the same.

1699
01:07:24.480 --> 01:07:26.040
It's just the names change.

1700
01:07:27.000 --> 01:07:28.480
I thought that was actually pretty profound.

1701
01:07:28.480 --> 01:07:29.920
If you look at the headlines of the news,

1702
01:07:29.920 --> 01:07:33.880
it's, you know, banks, default, interest rates up,

1703
01:07:33.880 --> 01:07:36.760
housing crisis, it's like those headlines

1704
01:07:36.760 --> 01:07:38.720
that have existed for a very long time.

1705
01:07:38.720 --> 01:07:41.120
We just change, it's just, we just change who's involved.

1706
01:07:41.120 --> 01:07:43.320
And even the bad ones, like, girl gets abducted,

1707
01:07:43.320 --> 01:07:44.680
like it's just changed the names,

1708
01:07:44.680 --> 01:07:47.080
but it's the same stuff, humans doing human things.

1709
01:07:47.080 --> 01:07:48.880
And so I think that context,

1710
01:07:48.880 --> 01:07:50.520
but it's still, it's one thing to know that hypothetically,

1711
01:07:50.520 --> 01:07:51.640
another when you meet somebody who's going

1712
01:07:51.640 --> 01:07:53.280
to the exact same thing, and I think that makes people

1713
01:07:53.280 --> 01:07:55.120
feel less isolated.

1714
01:07:55.120 --> 01:07:56.400
But spending time alone for me personally

1715
01:07:56.400 --> 01:07:58.560
is like one of the most, I like being alone.

1716
01:07:59.960 --> 01:08:02.840
Are there different tiers to wealth that you've noticed?

1717
01:08:02.840 --> 01:08:04.840
Like for people that go from zero to 100,

1718
01:08:04.840 --> 01:08:06.040
100 to a million.

1719
01:08:06.040 --> 01:08:06.880
Sure.

1720
01:08:06.880 --> 01:08:07.720
What are those tiers?

1721
01:08:07.720 --> 01:08:09.640
And when do you see diminishing returns?

1722
01:08:09.640 --> 01:08:11.920
I think Felix Dennis has a book called,

1723
01:08:11.920 --> 01:08:13.040
it's like how to be rich.

1724
01:08:13.040 --> 01:08:14.680
I think it's how to be, I'll teach you to be rich

1725
01:08:14.680 --> 01:08:16.000
or how to be rich, something like that.

1726
01:08:16.000 --> 01:08:18.160
Anyways, it's funny, but like in the first chapter,

1727
01:08:18.160 --> 01:08:21.200
he breaks down like 11 levels of wealth.

1728
01:08:21.200 --> 01:08:24.840
And he says basically, after $400 million liquid,

1729
01:08:25.120 --> 01:08:27.600
that's when you're truly wealthy.

1730
01:08:27.600 --> 01:08:29.360
And he was, you know, he was worth that much money.

1731
01:08:29.360 --> 01:08:30.200
It's like that point.

1732
01:08:30.200 --> 01:08:32.200
It's like you can really do whatever you want.

1733
01:08:32.200 --> 01:08:34.480
I do think that the jumps are much smaller

1734
01:08:34.480 --> 01:08:36.720
in the beginning in terms of what makes it really big difference.

1735
01:08:36.720 --> 01:08:38.840
I think going from anything to about six figures a year

1736
01:08:38.840 --> 01:08:40.360
is a material change.

1737
01:08:40.360 --> 01:08:42.440
I think going from, you know, even 10,000

1738
01:08:42.440 --> 01:08:44.560
with 20,000 a month is a significant change.

1739
01:08:44.560 --> 01:08:46.920
Going from there at about 40 or 50 is another change.

1740
01:08:46.920 --> 01:08:49.240
And if we think of like how we're defining the change,

1741
01:08:49.240 --> 01:08:50.680
it's usually what are the variables

1742
01:08:50.680 --> 01:08:51.880
that affect someone's daily living.

1743
01:08:51.880 --> 01:08:53.840
So it's going to be where they live,

1744
01:08:53.840 --> 01:08:56.160
the schools that their kids can go to,

1745
01:08:56.160 --> 01:08:58.480
the vacations they can take, where they can stay,

1746
01:08:58.480 --> 01:09:00.600
the food they, the clothes they wear.

1747
01:09:00.600 --> 01:09:04.280
Like those are all, but almost all of those are affected mostly.

1748
01:09:04.280 --> 01:09:07.080
I'd say like up to kind of like that 1% earning level,

1749
01:09:07.080 --> 01:09:08.920
which is about $5,000 a year.

1750
01:09:08.920 --> 01:09:12.000
Now you can live a baller lifestyle 500,

1751
01:09:12.000 --> 01:09:13.280
but not really save anything.

1752
01:09:13.280 --> 01:09:15.080
And so if you're a responsible saver,

1753
01:09:15.080 --> 01:09:17.000
it really depends on your saving.

1754
01:09:17.000 --> 01:09:18.360
I'm actually a lot like grand believe or not,

1755
01:09:18.360 --> 01:09:19.880
even though I spend money,

1756
01:09:19.880 --> 01:09:22.120
I spend money, but like by percentage of income,

1757
01:09:22.120 --> 01:09:24.040
I spend a very small percentage of my income.

1758
01:09:24.040 --> 01:09:25.800
And so it really just depends on your appetite

1759
01:09:25.800 --> 01:09:27.640
for saving versus spending.

1760
01:09:27.640 --> 01:09:28.880
And I think that's entirely personal

1761
01:09:28.880 --> 01:09:30.200
because it's really just a question of risk,

1762
01:09:30.200 --> 01:09:31.880
like how much risk I'm really going to take on.

1763
01:09:31.880 --> 01:09:35.200
But beyond that, there's, that's just a ratio.

1764
01:09:35.200 --> 01:09:37.360
But after that, it's, you know, you're,

1765
01:09:37.360 --> 01:09:39.440
you have nicer and nicer houses,

1766
01:09:39.440 --> 01:09:41.000
you go nicer and nicer and nicer vacations,

1767
01:09:41.000 --> 01:09:43.920
you travel private, you know, maybe that's

1768
01:09:43.920 --> 01:09:45.200
at a couple of million bucks a year,

1769
01:09:45.200 --> 01:09:46.480
you start traveling private.

1770
01:09:48.320 --> 01:09:50.280
After that, again, it's just like your buying boats

1771
01:09:50.280 --> 01:09:51.080
and your buying houses.

1772
01:09:51.560 --> 01:09:52.760
You can't, at a certain point,

1773
01:09:52.760 --> 01:09:54.560
you really can't consume any more of it.

1774
01:09:54.560 --> 01:09:56.800
I will say this is that I do think that,

1775
01:09:56.800 --> 01:09:58.840
and this is controversial,

1776
01:09:58.840 --> 01:10:00.440
but I do think that money,

1777
01:10:00.440 --> 01:10:01.440
because you know, they study,

1778
01:10:01.440 --> 01:10:03.080
it's like up to 70,000 dollars a year,

1779
01:10:03.080 --> 01:10:04.400
and now like inflation adjusted,

1780
01:10:04.400 --> 01:10:05.960
probably closer to 100.

1781
01:10:05.960 --> 01:10:08.280
I actually think it continues to go up beyond that,

1782
01:10:08.280 --> 01:10:10.040
but I think the problem is that people

1783
01:10:10.040 --> 01:10:13.120
have a skilled efficiency in terms of how to spend money.

1784
01:10:13.120 --> 01:10:14.640
I think most people know how to spend money

1785
01:10:14.640 --> 01:10:16.800
effectively up to 100,000 dollars a year

1786
01:10:16.800 --> 01:10:18.400
in terms of how to make their life better,

1787
01:10:18.400 --> 01:10:19.960
but they don't know how to spend it above that,

1788
01:10:19.960 --> 01:10:21.920
in terms of like things that improve their lives.

1789
01:10:21.920 --> 01:10:24.240
Like, I think, but I think it's a learnable skill.

1790
01:10:24.240 --> 01:10:26.080
I think you can get better at spending money,

1791
01:10:26.080 --> 01:10:26.920
to make your life better.

1792
01:10:26.920 --> 01:10:28.160
So for me, things that make my life better

1793
01:10:28.160 --> 01:10:29.720
are gonna be things that buy me time back.

1794
01:10:29.720 --> 01:10:31.680
Things that basically are all the annoyances

1795
01:10:31.680 --> 01:10:32.680
and frustrations of my life,

1796
01:10:32.680 --> 01:10:34.240
if I can pay to make those go away,

1797
01:10:34.240 --> 01:10:36.560
those are things that net enhance.

1798
01:10:36.560 --> 01:10:38.480
And then long term in terms of purpose,

1799
01:10:38.480 --> 01:10:40.400
so if you find something meaningful,

1800
01:10:40.400 --> 01:10:41.920
you can actually devote real resources

1801
01:10:41.920 --> 01:10:42.920
and make a change or an impact,

1802
01:10:42.920 --> 01:10:44.240
which I think is, you know.

1803
01:10:44.240 --> 01:10:45.880
You should see the updated study on that,

1804
01:10:45.880 --> 01:10:48.040
that whole 75 billion dollars angle into bond.

1805
01:10:48.040 --> 01:10:52.360
No, it was, that was done in a different country with,

1806
01:10:52.360 --> 01:10:53.520
so, great.

1807
01:10:53.520 --> 01:10:54.760
You would want, so I also, yeah.

1808
01:10:54.760 --> 01:10:55.760
I also certainly, yeah.

1809
01:10:55.760 --> 01:10:58.560
Well, within the last 10 years of the United States,

1810
01:10:58.560 --> 01:11:01.280
and they found that I think it was about 150,000 dollars

1811
01:11:01.280 --> 01:11:05.640
was where you get peak dollar to value ratio.

1812
01:11:05.640 --> 01:11:06.840
It continues up high.

1813
01:11:06.840 --> 01:11:07.680
Just finishing returns.

1814
01:11:07.680 --> 01:11:08.560
But diminishing returns.

1815
01:11:08.560 --> 01:11:11.080
And they found that the diminishing returns

1816
01:11:11.080 --> 01:11:13.840
really stopped about 650,000 dollars.

1817
01:11:13.840 --> 01:11:14.840
It's about the top 1%.

1818
01:11:14.840 --> 01:11:17.080
They found that over a million dollars a year,

1819
01:11:17.080 --> 01:11:19.200
you actually have lower quality of life.

1820
01:11:19.200 --> 01:11:21.200
I'm guessing it's because you have a more problem,

1821
01:11:21.200 --> 01:11:23.480
that struggles, career issues,

1822
01:11:23.480 --> 01:11:25.440
or maybe friends or not, friends with you,

1823
01:11:25.440 --> 01:11:26.440
or you have fake people.

1824
01:11:26.440 --> 01:11:27.440
You can get cash money,

1825
01:11:27.440 --> 01:11:28.920
which is another, like, a whole another.

1826
01:11:28.920 --> 01:11:29.760
Right.

1827
01:11:29.760 --> 01:11:31.520
But it was really, yeah, 650, 700 grand,

1828
01:11:31.520 --> 01:11:33.240
and then it just kind of tapers.

1829
01:11:33.240 --> 01:11:34.080
Yeah.

1830
01:11:34.080 --> 01:11:35.080
After that.

1831
01:11:35.080 --> 01:11:37.080
That's super, super believable.

1832
01:11:37.080 --> 01:11:39.600
But like, after, you know, five or 10 million dollars

1833
01:11:39.600 --> 01:11:42.320
a year in income, like, for the next stratas,

1834
01:11:42.320 --> 01:11:46.160
I don't know, 25, maybe 30, 40 million a year in income,

1835
01:11:46.160 --> 01:11:48.120
like where you can do, like, even, you know,

1836
01:11:48.120 --> 01:11:49.640
crazier things, I guess.

1837
01:11:49.640 --> 01:11:52.240
But at a certain point, when you can buy the hotels,

1838
01:11:52.240 --> 01:11:53.920
you stay at it's okay, whatever.

1839
01:11:53.920 --> 01:11:54.760
I don't know.

1840
01:11:54.760 --> 01:11:56.800
I don't have a need for a bigger yacht.

1841
01:11:56.800 --> 01:11:58.040
I think Leila wants one, though.

1842
01:11:58.040 --> 01:11:59.160
You should buy a hotel.

1843
01:12:00.520 --> 01:12:02.040
Wow.

1844
01:12:02.040 --> 01:12:03.040
Don't say too much.

1845
01:12:03.040 --> 01:12:03.880
Yeah.