My First Million - #157 - Instagram Food Drops Making $200k a Week, Chrome Extensions That are Crushing It & Open Salaries

Episode Date: March 3, 2021

MFM #157 Rewarding hustle: MFM is hiring two kids to do video production because they took the job without permission. They heard Sam complain about needing a recording studio and offered to do the... work https://twitter.com/DylanJardon/status/1366274333858017282?s=20.  This is how you get the job you want. Don’t send a resume. Do the work instead. Don’t ask for permission. Food topics The food companies of Instagram: Companies mycookiedealer.com, 1-900-Ice-Cream, and Allie’s Banana Bread are crushing it on IG with food drops that sell out in seconds. Why it’s big: These work because it’s at the intersection of many trends: cloud kitchens (no need for expensive restaurant infrastructure), DTC (no need to get costly distribution deals and shelf space) and have virality baked into them. My Cookie Dealer is estimated to be doing $200k per weekly drop. This is a potential $10m business today. Formula: Sam breaks down how these companies are going viral, and how you can copy. Make a side ingredient the main thing (cheese, cookie dough) Make it in an unusual color (rainbow bagel, rainbow kettle cork, green ketchup, cloud bread) Make it huge (huge sundae, massive pizza cookie, sushi-rito, massive KitKat) Frankenfood: combine two different foods (cronut, pancake cereal, donut cereal, cream cheese, bell pepper, desert burger, ramen burger, spaghetti donuts, fairy bread) Food allergy or remove stuff from it (vega ice cream, Banza) Make junk food or simple food ultra-fancy (tater tots, mozzarella sticks) https://www.youtube.com/watch?v=2IFYt20QON8  Tiller money Spreadsheet plugins: The guys have talked Chrome plugins and browser extensions in the past, but an overlooked niche is spreadsheet plugins. Plugins are great businesses because they are sticky and capitalize on an existing platform and user base. They can be light, simple tools that can gain huge adoption quickly.  Tiller Money (https://www.tillerhq.com/): Personal finance nerd Sam loves the simplicity of this plugin. Most people already manage their money on a spreadsheet, Tiller Money just makes it easier to do so. Supermetrics (https://supermetrics.com/): Marketing data plugin Sam uses. He predicts the business does 8-figures in revenue. Open salaries Open salaries: Should companies publish employee salaries? Open salary data is becoming a legal requirement, starting with 🍃 Colorado: "From 2021 employers must disclose pay rates or ranges in job postings for jobs that could be worked in Colorado (including remote)" Source Open salaries is part of the culture of some companies. Buffer used it as a growth hack. The company continues to publish a lot of it’s financials and all employee salaries. Companies doing it now: Glassdoor shows average and anonymous salaries but can be inaccurate They were acquired for $1.2B in 2018. At the time did $170m in revenue with 700 employees  Founded by Rich Barton (we’ve spoken about him a few times before). Famous for saying “Information wants to be free”. Started Zillow, Expedia, and Glassdoor off this principle. Levels.fyi: A helpful guide to understanding what employees at top tech firms should be making. They even help you negotiate a salary.  Take: Open salaries tend to benefit employees (more transparency means higher, more equal pay) and is more detrimental to employers. Apple stopped doing it. Buffer has also said it’s not helpful anymore and was only good for initial growth. Pat Flynn published his income for several years, but eventually stopped as he started getting hate.  --------- Have you joined our private Facebook group yet? Go to https://www.facebook.com/groups/ourfirstmillion and join thousands of other entrepreneurs and founders scheming up ideas. Editing thanks to Jonathan Gallegos (@jjonthan)

Transcript
Discussion (0)
Starting point is 00:00:00 It's insane. This guy's life is insane is what I can see from this. I mean, this guy's, his steroids are, you know, as good as his cookies, I would say. That's what, yeah, I want the H-GH drop. How do I look? You look fantastic. You upgraded. I'm currently recording.
Starting point is 00:00:22 I wish I could turn the camera around, but I don't want to screw it up. But I'm sitting at my friend Jack's house in Hawaii where I'm having a week vacation. Congratulations. Well deserved. Yeah. Yeah. It's cool. Just got here, but going to be here for maybe five days. But it's all right. How's things going with you? Yeah, things are good. Did you see this thing that the, these guys you tweeted at us that were like, dude, we will pimp out your stream. Did you watch these videos that they made? No, I've been flying. But they said that they booked a ticket to Austin. Are they actually going? to our to my house i don't know if they i don't think no they're they're waiting for us to be like yes or no but uh these guys applied very intelligently i got it from credit so basically they
Starting point is 00:01:12 saw that we were trying to upgrade our stuff and they're like we'll do this for you we'll make it no hassle i'll come to you i will hook it up and a few people tweeted a tweeted something like that at us and you were like kind of you know humoring it i guess and then these three guys are or kind of like I think they're like college seniors or something like that. I don't really know. Didn't look too far into it. But they sent us a video. They go,
Starting point is 00:01:34 watch, here's what we're going to do. And they recorded a video. And it looks like a Casey Nystatt video. Like the quality is like that and the editing style and storytelling is like that. It was a funny video. It was basically telling us how to, how they would pimpe out our stream.
Starting point is 00:01:49 And they kept calling it like, you know, my first million to the moon. And they're like, we're going to take this baby to the moon. Here's how we're going to do it. And so they did two things. he showed how his camera set up how they do it for their podcast and it looks awesome looks way better than ours
Starting point is 00:02:01 and then also he's then the next day he sent us an edited clip of a comment of the you telling the story of bumping into the Silk Road founder at a party and he like stole your girl or whatever and they're like dude we'll pump out clips like these all the time my first million to the boom baby and are they good they're good they're really good both videos are really good first of all let's hire them And second, where did they send this to on Twitter? I've been flying since Saturday. It's on Twitter.
Starting point is 00:02:32 I sent you a link because I was like, dude, fuck, yes. This is like this is, you know, like it's like the opposite of a job application. Normally you get a job up. You put a job up that you want to hire somebody to do X. And then some people apply. And then you're like, you kind of squinting. You're like, do I think this person's really going to be able to do it? And then you make a guess.
Starting point is 00:02:51 And then it takes some fucking six weeks to ramp up. And then or or this guy just applies. showing, look, I can do it. I've done it for myself. I'll do it for you. And let me make this easy for you. Let me show you how bad I want this. And I just thought like, this is so much better than what we've been talking about of trying to find people to do this stuff. I'm looking at is, okay, cool. His name is Dylan Jarden. Weird last name. I keep, because I want to say Jordan. Yeah, Dylan, if you're listening to this, let's do it. I'm in. And, you know, I don't know, there's probably people with the hustle who have similar jobs, but I think we should reward the hustle of
Starting point is 00:03:26 these guys and be like the gig is yours to like pimp out our video side of our podcast. I think we should give we should give them the shot. All right. I'm in. Cool. All right. We have a bunch of topics you wanted to talk about where do you want to start. You want to start with this open salary thing. No. Let's start with food because I've, was this yours? Yeah. I've thought about this for years. So I have a lot of I've got I've got something boiling up. So you want to let me intro this. All right. So I'm talking to Ben, my right hand man, Ben. And Ben's kind of. Ben's kind of, of like, you know, I'm easily excitable. You could tell by the way I talk.
Starting point is 00:04:01 Ben is the opposite. He's chill mode. He's always relaxed. And, but when Ben mentions things, I've learned, like, when he says something is just like, like, oh, this is cool. You should check this out. It's actually fucking amazing. And he just doesn't say, hey, dude, he doesn't like shake you and say, look at this.
Starting point is 00:04:16 This is amazing. And so he showed me this thing that is amazing. So he goes, check out this website or this Instagram handle, my cookie dealer. I was like, my cookie dealer. so I go to it. You should click these links, by the way. I'm looking at it now. I want to eat this.
Starting point is 00:04:30 Dude, so, all right. So he sent me three Instagram accounts. He sent me by cookie dealer. Click the second one, 1,900 ice cream. So like 1,800, but 1,900 ice cream. 1,900 ice cream looks so good. Just, like, describe what you're seeing.
Starting point is 00:04:44 It's incredible. Is it a pie? I don't know what this is exactly, like what you would call it, but it's a, it's a cone? What is, I don't know what shape this is. It looks like, it looks like there's a steak. So like at the top of the stick where you would have like a popsicle.
Starting point is 00:04:58 Instead, it's like a full ice cream concoction, which is like the ice cream and all the toppings and the fudge on top or whatever. It looks amazing. If you have Instagram, go to go to 1,900 ice cream. There's one called the Cupcake Wonderland, which is vanilla ice cream, rainbow sprinkle, strawberry marshmallow icing. So they call themselves the ice cream thirst trap slash thick check trademark. And they have a bunch of followers. They've grown really quickly, 26,000 followers. So Ben was starting me these.
Starting point is 00:05:30 And I was like, okay, cool food account on Instagram. That's not too new. What do I care about this food porn? He's like, no, no, no, dude, I've been trying to send you one of these. And I've been trying to like get these myself. They do weekly drops of their stuff. And these are selling out instantaneously. So I go, what do you mean?
Starting point is 00:05:46 So he showed me my cookie dealer. So my cookie dealer does a drop, a cookie drop. every week they do a random cookie drop so a different flavor or whatever and it sells out within literally seconds and they're doing $200,000 a week. They're doing $10 million a year dropping cookies on Instagram and just instantly selling out. And then they ship them a few days later. They know how many orders they get. And then they ship them out a few days later kind of like nationwide or whatever.
Starting point is 00:06:13 And there's another one, Ali's Banana Bread. Go look at this banana bread, dude. Just look at this banana bread. I want to print this banana bread out and just lick the paper. It looks so good. And same thing. Wait, wait, wait, wait, wait, wait, wait. Dude, check this out.
Starting point is 00:06:29 So if you go to my cookie dealer.com, that's the website. Okay, click, click Instagram page. Are you on their Instagram page? I'm on it. Okay, you see, scroll up to their profile and you see where it says like the owner is this guy named Juan Diesel Moore, Morel. Who's that? Click it.
Starting point is 00:06:47 Oh, dude, he's like a bodybuilder. This guy is huge. This guy is so big. He looks like if you've ever seen an ESPN or whatever bodybuilding competition where the guys are like this crazy color of skin that nobody is. And he's just humongous. No, I can't tell if it's like the tan. I think it's a black guy. Like he's so dark.
Starting point is 00:07:09 I think it's a white guy. You know, like the white guy has to do the black tan for bodybuilding. Well, and then look at his wife. It's insane. This whole guy, this guy's life is insane. is what I can see from this. I mean, this guy's, his steroids are, you know, as good as his cookies, I would say. That's what, yeah, I want the HGH drop.
Starting point is 00:07:27 This is awesome, man. This is cool. Okay, so Ali's Banana Bread. So Ali's Banana Bread. So there's a bunch of these. So Ben is like knee deep in this world of like Instagram food brands that are basically, they're kind of like drop shipping baked goods all around the country. So they have them for cakes, ice creams, banana breads, and they're just specialists.
Starting point is 00:07:47 And so there's a couple of cool things that I want to. to bring up about this. And I know you have some stuff on food too. But the part that I thought was cool is, so the internet is really good at doing this, which is normal, before the internet, you would just go to whatever's like your local, whatever. So you'd find the best within your local radius of five to 10 miles or whatever it is. That's what you would go by. But with the internet, whether it's news or comedy or whatever, the best thing can just get distributed did everywhere. And so the best brand wins on the internet. And so this is why you see things get so big, you know, like Facebook and other platforms, because the best thing will get all the users.
Starting point is 00:08:27 And it's, what's interesting is that these guys are doing this with food. So if these guys really do make the best goddamn banana bread or best cookies or best ice cream, they don't need a physical shop. They could just through Instagram alone, spending zero dollars on marketing, have customers worldwide. Like Ali's banana bread literally ships worldwide. And so if you're the best at making something now, you have a pathway to become like a multi-millionaire where that really wasn't possible if you were just a local baker and whatever in Cincinnati. You know, you were always restricted by however many customers you could get into your local radius. So I thought that's pretty cool. The second thing is if you think about this, you know, this is like a mix of a bunch of things that we've been talking about for a while.
Starting point is 00:09:09 So we've been talking about cloud kitchens. So these are essentially like cloud ice cream shops or cloud bakeries. They don't have like a physical storefront necessarily. They're all in the cloud and you just order online. The second thing is direct to consumer. So they're going direct to their fans. They're getting their fans phone numbers. And so that when they do a drop, they just text everybody like one picture of the new thing.
Starting point is 00:09:30 And then instantaneously people buy. And I think that's kind of like amazing a way to go to direct to consumer. You don't have to worry about getting on the shelf at, you know, Whole Foods or wherever else to build your brand as a cookie company or whatever. And go ahead. No, keep on. Last one is if you think about it, like, you know, who's going to be the next Mrs. Fields or Ben and Jerry's or like Auntie Andy's pretzels? It's going to be one of these brands. It's going to be one of these cloud bakeries doing it on Instagram, building a cult following like these guys are doing.
Starting point is 00:10:00 And you're going to see, I predict you're going to see just like, I forgot what was the name of that meme company that sold for like $100 million? They hit like they were the ones behind DeKwan and whatever, like the couple of the meme Instagram accounts. Yeah, yeah, yeah, yeah. It was about eight months ago, maybe. Yeah, we talked about it on the pod. It's like, dude. You'll pull it up. What is it right there.
Starting point is 00:10:24 You see it's right there. You see it? I can't read it from there. So basically, you know, some brand that just owned a bunch of like meme accounts on Instagram sold for like $100 million, I think, if I remember correctly. You're going to see the same thing in the food space. You're going to see a bunch of private equity companies coming in and they're going to buy up, you know, Allie's banana bread.
Starting point is 00:10:43 They're going to buy up one, nine hundred. ice cream because they're going to be like, dude, this is the next Beninjeries. And we're going to take this thing. We're going to put it on steroids. We're going to advertise the fuck out of it. And then we're going to get it into retail stores on top of what it's already doing. And so I think you're going to see a bunch of these. If I can go invest in those four brands that we talked about right now, I would go give them each, you know, a 25K check because I think these are going to get scooped up. Okay. So let's break this down further. I've thought about this a ton. The reason I've thought about this ton is I, I'm a media guy, right? By the way, is my mic good? Yeah, you're good. All right. I'm a
Starting point is 00:11:14 a guy. I love content and I've studied what goes viral and why for years. And one thing that I've always been fascinated with is I've known people who have worked at Thrillist. And Thrillis, it started as a food, well, they started as like things to do in New York, but one of their biggest things is food. And I remember when I started dating my wife, she was from New York City. And I hadn't been there since I was, the first time I'd been there was when we started dating 26, 27 years old. And I went there and I would see these long, like I would go to like the areas that you see in movies where like the cute people hang out where they all dress like, you know, like they dress like, they go to NYU. Yeah, like they just dress like for me that was like,
Starting point is 00:11:52 wow, I feel like everyone looks like a movie star. Everyone was cool and hit by, you know, I don't know, I don't know, Madison Square Park or Washington Square, whatever those parks, I don't know. I don't spend a lot of time there, but you know what I mean. They would have the longest lines. And I'm like, what are all these people waiting for? And it was like the latest, uh, thrillous craze that went viral. And so I would walk or through Brooklyn and everything and I would. see these lines. And I'm like, what is going on? And I would do research. And I've kind of broke it down into, I like, I've like studied this for a while and, uh, or not studied it's
Starting point is 00:12:26 right word, but thought about it a lot. And I basically broke it down into the, into a handful of categories. And what it appears, what, what seems like, what, what happens is people have a small store, a relative, like pretty like a corner store in hit parts of Brooklyn or New York where there's, uh, people who share. So like college kids. kids mostly. And they create one or two things that thrillists or BuzzFeed or someone, because all those companies are located in the cool parts that I'm describing and Soho, things like that. And one of these BuzzFeed or Thrillist folks sees it. A whole bunch of college kids see it. And then it creates a line and it creates hype. And it becomes like a good business that lasts for three to six
Starting point is 00:13:08 months. And then it kind of like goes away and maybe like it still is a remainder bit like still as a business, but it mostly like is a hype cycle, whatever. And I was like, what is going on? And so I broke this down into a few categories. And I want to go through these categories because I agree with you. I think this is so cool. And I've tried to break this down. So first, and these are like different ways to, like formulas for virality. Yeah, like formulas for food virality. Okay. The first one is make a side ingredient. So something that's normally a side ingredient, make it the main thing. So the best example of this is cookie dough. There's a lot, there's like, this is a thing I saw in New York. There was a line out, the door for someone sold cookie dough as if it's ice cream. So it's like
Starting point is 00:13:49 sprinkled cookie dough. Then like ice cream flavored cookie dough. It was like cookie dough is the main thing. Another one is cheese. Like people do like fondos. They have like fondu bars. Something that's, what else is a side ingredient? That could be it. I don't know if it's a side ingredient exactly, but cereal does this too. There was these like viral things. It was like cereal bars. All you do is it's just milk and cereal and that's it. And you can come normally that's not a restaurant. It's a side. like it's like literally a side dish of a side dish and they made it the focus of the restaurant and that made the restaurant notable and remarkable for people to talk about and go to. Or an I or a whipped cream ball, like a whipped cream store.
Starting point is 00:14:23 Just like anything that is typically an afterthought that is a topping or a side to the main thing, make that your thing. Okay. The second one is do with the have normal foods, but different colors. A few examples, rainbow bagels. Okay. crazy popular. They're, they're hype. I mean, they're still popular, but they went through a cycle. The second one is rainbow, rainbow kettle corn. That's quite popular. When I was a kid, I remember
Starting point is 00:14:49 a couple times buying green ketchup. Do you remember green ketchup? Yeah, dude. I love green ketchup. Which was just red ketchup, but green, right? It was literally just the color. It's just the name, just a normal thing, but a different color. And then the latest trend on, uh, or this year on TikTok was cloud bread, which is basically, you know, everyone is baking at home now. It's just bread that's kind of blue and white and looks like a cloud. Right. And by the way, your side thing, main thing, I got another example of that. But, you know, Captain Crunch, the Crunchberries were always just the extra.
Starting point is 00:15:19 And then they came out with Captain just the berries, just the crunch berries. And it was like way more popular. Yeah, or like Lucky Charms with only the marshmallows. Yeah, exactly. So you take the thing that's supposed to be the topping. Yeah, the topping, the second, the third string thing, make it the first string thing. Right. Okay.
Starting point is 00:15:34 The third one. The same thing, but a different side, different size. This is pretty common. So like huge pizzas that you can't fit through the door, huge sundays. They call it like the kitchen sink. Everything but the kitchen sink in a kitchen sink. Or sushi rito is another example.
Starting point is 00:15:50 Have you seen sushi rito? That's a chain, right? Yep. So it's just sushi that isn't cut. So it's just a long piece of sushi. Another one, I had a friend named Sol. You probably know him. And he created a Kit Kat bar that was the size of like a cake.
Starting point is 00:16:06 Right. He would make these things. And so I've actually never seen this sold. But you get the idea. A kick cap bar that's like the size of a loaf of bread. In San Francisco, they have this place Bob's, Bob's donuts or Bob's whatever. Yes. And they have this humongous donut.
Starting point is 00:16:21 It's like this donut the size of, you know, two of my head. And you could buy it and then you could try to eat it. And you can take pictures of it because you're eating this enormous donut. Boom, that's the whole hook. It's not special, but it becomes special. It's just a normal thing, but a different size. Okay. Or like in St. Louis.
Starting point is 00:16:38 The whole thing is, this is so silly how this works. In St. Louis, our pizza is cut into squares. Right, right, right. So it's around. You kind of said one earlier about like sushi. Sushi sometimes comes in these like boats or if you go to a beer place and they serve it in a boot or whatever. It can also be, you know, a punch bowl that's in a fish, you know, a fish bowl or whatever.
Starting point is 00:16:57 Yeah. Like, it could be bigger and in a, you know, in a non-traditional like the kitchen sink in a non-traditional container. Yes, just same thing but different size. Okay. Or it could be miniature, you know, just something that. You know, whatever. Like White Castle, mini cheeseburgers.
Starting point is 00:17:13 Okay, so the fourth one, combine two things that are quite different, okay? So I've got a, this is a really easy one. There's a ton of examples. The first one is the cronut. Pretty easy. The latest trend right now on TikTok, pancake cereal.
Starting point is 00:17:27 It's, I don't even know what it is. There's like recipe. I don't even know what it is, but it's, I don't know. Okay. Look it up, actually, while we're talking to Brayu. It's probably,
Starting point is 00:17:36 it's probably just, I don't know. Probably pancakes and cereal. Okay. No, they bake it. They call it pancake cereal. It really, it's just probably normal cereal made out of like the same ingredients. They just bake it at home and it looks like the shape of a pancake. Same with donut cereal. But there's, do you know, do you remember Ramen Burger? Yeah.
Starting point is 00:17:59 Okay, so there's Ramen Burger. There's fairy bread. Do you know what fairy bread is? No. What is that? It's basically just bread with sprinkles. Okay. So you're just taking two things that don't normally go together.
Starting point is 00:18:09 And you mash them, just like a dessert burger. Right. Very simple. Or you can get a cream cheese bell pepper sandwich. Right. And the more unusual, it's, you know, it's Doritos Locos tacos, right? It's when KFC came out with the fried chicken bun or whatever. And it was like, the bun is fried chicken.
Starting point is 00:18:29 Like, you know, there's the more shocking, I would say the better in this case. Yes. you just take two things, you smash them together. Pretty easy, relatively simple. Okay, the fourth thing or the fifth thing is you make something that's normally a crappy food, but you make it fancy. So tater tots, mozzarella sticks. You add a fancy stick to them.
Starting point is 00:18:51 Or you could probably go to the opposite way of making something pretty fancy and make it not fancy, although that might be gross. But you get the idea. And then the final one is you take some type of food allergy with this. one isn't actually that sexy. But you take some type of food, you just make something for food allergy. So there's banza, which is chickpea pasta. There's, uh, there's a Lou Ellen's ice cream. I think it's called in Brooklyn. It's vegan ice cream, only vegan ice cream. Right. Or like Oatley is like this, right? It's milk not made from cows. Boom. This is now so popular that
Starting point is 00:19:24 this almost can't get viral anymore. But, um, maybe if you chose some category, that's not, not typical, but it feels like a lot of these are now mainstream, um, at this point. It works so well. Here's what I would do is I would open up. This was what I was thinking about doing. I mean, I would never, I don't think I would do it, but maybe one day I would want to actually. It seems pretty fun is I would have a kitchen in New York and I would get it in a really high trafficed high traffic area. And I would just every three months try to do a launch where I launch like a rainbow cheesecake or, you know, I don't even, I'm just making.
Starting point is 00:19:59 You're just making stuff up. And then I would even, what I would do is I would make, I would do a ton of stuff. and then just post a picture and drive a little bit of traffic to it and see what had the cheapest cost per click. Right. Yeah. So what you're saying is just reuse the hype cycle. Embrace that the hype cycle exists and just make a kitchen that's going to rotate every
Starting point is 00:20:19 month into a new crazy concoction. And people will line up every month to go try the new thing and you'll build your brand as like Willy Wonka when he would create, you know, now everlasting gobstoppers or whatever. You know, like he creates a new, a new crazy concoction that you're going to be. you got to go. It goes a step further. So do you remember Cronut? Yeah. So Cronet's got popular in 2013. It was invented by a guy named Dominique. What was his last name? I don't know what his last name is, but a French Patriots chef. He's like a big name chef. But he made Cronet because he was like, he was like, I just want to have fun and create something new and interesting all the time. And this one just kind of hit. He actually trademarked the name Cronut. And he is like a purist. He's like an artist. So he didn't actually want to license it to people. But he easily could have made. tens of millions or more by licensing that name to someone. And so there's a step further. So you create the food and you've got to come up with a really cute name.
Starting point is 00:21:13 And you could actually get a trademark and there's licensing deals there. So I think this is super fascinating. I think if someone invested one year of their life to do this and a hundred grand or less, they could probably get one or two hits. Right. Which may not be the right thing to do with your life. But if that's you, if you're like, I'm doing it. Great, great.
Starting point is 00:21:32 It's definitely fun. It seems fun. but yeah it'll teach you a lot i think it'll teach you a lot about business and marketing to be able to approach you know food this way um okay so a couple other opportunities i see here so i mentioned i think you know investing or private equity i think we'll start to scoop up these brands i think that's one opportunity second one is i think somebody could could build a kind of guy feary of instagram food uh character who basically just goes and tries to find the next you know who really does make the absolute best like oatmeal or whatever right like come up with like
Starting point is 00:22:05 like, you know, go to every category and then just hunt for the best one ever. And then you do the drop on Instagram for that brand, for that, for that shop. And maybe you found, you know, the absolute best Philly cheese steak in Philly. And then you, you know, you drop that. So I think somebody could create that if they, if that's what, if they're a foodie and that was their thing. The other thing is a little more boring, which is like we've talked about cold chain 3PL. So basically, how the heck do you ship all this stuff and keep it where it actually tastes good when it arrives, you know, three to five days later across the country. How do you,
Starting point is 00:22:38 how do you make it work? And so I think that there's just a bigger, a bigger and bigger need for cold chain logistics. And I think we've, we've heard this a few times now. And I feel like if somebody's working on that or somebody has one of those, I would love to talk to you just to learn. Because I think this business is booming. And I think more and more people are going to go into it. Okay. Do you want to hear one more food thing that we could, we could, to discuss? Do you remember as a kid seeing these books. I'm pulling them up now called Eat This, Not That. No, what is that? Okay. So it was awesome. I loved it. I bought it once just because it was at Barnes & Noble and it ended up like being like pretty amazing. So Google Eat This Not That. It started as one book, like an almost like coffee table-esque book. Right. And on the left side it says eat this. And on the right side is not that. And so for example, it started as just like a general general one. But then they eventually went to like desserts. fast food, all types of that, all types of stuff like that. And an example, let's find an example
Starting point is 00:23:38 one that I can say. So it would say, eat this. Arby's beef cheddar classic, 450 calories, 20 grams of fat, not this. Arby's roasted turkey ranch sandwich, which has 800 calories. And so it shows two things that are quite similar. And it says, eat this one instead of this one. And if I want to saying eat a salad don't go to arby's it's saying like if you're at arby's get this one not that one yeah or let's see like they have like different denny different denies breakfasts or uh like i hot versus denny's or whatever eat this or uh yeah you get the idea right yeah okay it's but it's are you looking at you google it's pretty sick i it's been around since probably 2000 uh probably 2002 i mean i think i bought this when i was pretty young um
Starting point is 00:24:28 let's see there's a whole half a million followers on instagram which is like to i think all these old like kind of publications like either magazines or or little brands like this today they're all just instagram accounts i think that's the way to like reinvent these wow okay so the eat this not cat eat eat eat this not that as of 2012 had sold eight million copies of the book right and then they spun it up into a magazine and wow it's freaking amazing i'm just pulling this up um here's what I would do right now today. If I wanted to get popular on Instagram is I would do the same thing just for Instagram. It's a whole,
Starting point is 00:25:05 eat this, not that on Instagram. Totally. And the format is so good. It's just a split screen. So it has half the food item on the left and half the food item on the right. And then it has the nutrition facts about why one versus the other. I think a lot of this stuff is super shareable on Instagram and you would grow very quickly. Like I can see their Instagram right now.
Starting point is 00:25:23 It looks kind of shitty. Like they're not doing a great job. I think you could basically steal this concept. pick a different name and grow a big Instagram account off this. If I was bored, I would do something like this. Yeah, and it's kind of a fun topic. I'm reading all about it now. This is pretty amazing.
Starting point is 00:25:40 I hadn't thought about this in forever. But anyway, there you go. I think if you did that for six or six or 12 months, you could get hundreds of thousands of followers on Instagram. All right. We'll switch off food. Let's go to something else. What do you want to talk about?
Starting point is 00:25:55 Do you want to talk about money real quick, tiller money? Okay, yeah, what's this? Okay, very fascinating. Do you, what do you use to track your money? I don't use anything to track my money. I use Excel. Okay, everyone says that. Oh, I've talked to.
Starting point is 00:26:10 Not everyone, but a lot of people. Here's usually the answer I hear. I use mint or I use personal capital or I use... Right, I have mint, yeah, as well. And can I ask you, why don't you use mint? I used mint back in the day. I mean, I used mint like 10 years ago, so it's just kind of like one of those things that I don't have a habit of going and looking at.
Starting point is 00:26:30 And I don't like looking at that stuff because it makes me focus on like, you know, expenses and saving money here and there. And I just don't think that's fun. I don't enjoy that. So I went and looked at a bunch of subredits about money because I usually use personal capital. And I don't like it for a bunch of reasons right now. But when I asked like 10 different people how they track their money, most who I asked, maybe five or six, use Excel, which is kind of crazy.
Starting point is 00:26:57 to me because how many, how many accounts do you have that you need to track? Over 10? Yeah. Yeah. So it doesn't matter if you're wealthy or not wealthy. Most people like between, if they have a wife or a husband, you have like your checking account, bank account, your 401k, your stock stuff, uh, maybe your home loan. Credit card. Credit card. You probably have two or three credit cards. So typically, I imagine the average Joe has 10 plus. So it's actually a lot to track. regardless if you have money. And everyone I've noticed, or not everyone, a lot of people I've noticed use Excel.
Starting point is 00:27:29 So I did some research. There's this thing, and it's not like I've discovered this. I think it's pretty popular already called tiller money. And all it is, the landing page is beautiful, but I'm just fascinated by this business. All it is, if you go to Google Sheets and you click Tools and then Add On, you'll see the ability to add plugins to Google Sheets. Okay.
Starting point is 00:27:51 Tiller Money, all it is is a plugin. for Google Sheets that costs $100 to, I think it's $100 a year. And all it does is it automatically imports your bank accounts and any other account into Google Sheets and templates that they have or you can just make your own template. But I've never seen someone build such a sick and awesome business off of a Google Sheet Adon. It's incredibly fascinating. Yeah, this is good. I like this. I think this is this of all the like kind of money manager things, this appeals to me more because it feels like,
Starting point is 00:28:24 I'm managing my own money. And in reality, you know, the thing I'm always worried about is data. Like, I don't want my data on all these different services. Like, I'm not going to try your new finance app because, like, I just don't want to link my bank account to all this new stuff. But if they could do this where this was like self-hosted in some way, like it's just a template, that'd be great. It doesn't look like that's the case.
Starting point is 00:28:43 But it is sweet. I like it. So if you go to Google Sheets right now and you click add-ons on the top right once you're in a sheet, you can see add-ons. And I actually just realized I use a few add-ons. The other add-on I use is called Super Metrics, which is it pulls in data from SQL and stuff like that. I bet you they do close to eight figures a year in revenue. But we've talked about plugins for WordPress.
Starting point is 00:29:10 We've talked about plugins for Chrome. Google Sheets plugins is another thing that is super, super fascinating to me, and I completely overlooked it. It's so neat. And so I don't know what else to say other than it's cool. So you had a thing that I thought was kind of interesting that was about open salaries. What is this? And do you want to talk about this or where do you want to go? I'll let you lead a little bit.
Starting point is 00:29:34 But I'll, it's so funny, I'll put stuff in here throughout like two weeks. And three days goes past and I'm like, wait, did I write that? Or did you write that? So, all right. So we'll do it quick. We'll do it quick. So you put this thing on here. I got kind of intrigued.
Starting point is 00:29:49 So you open salaries. What is it? It's the idea that like today it's kind of crazy that we don't know what other people make and not in a gossip kind of way, but it's really, you know, the company knows what everybody makes, but the employees don't know. And that actually puts the employees at a pretty big disadvantage. You don't know when you're underpaid. You don't know if there's any like systemic bias. And let's say women or minorities are not getting paid as much as, you know, tall white males or whatever. And so it's kind of weird that this is this like taboo thing.
Starting point is 00:30:19 Nobody talks about it. You're not allowed to talk about it. It's seen as kind of a faux paw, but it would actually be to the benefit of any employee to know to have transparency as to what people are getting paid. And it can be anonymized, but being able to see what other people at your role, at your company are getting paid. And so you would put this thing on here that Colorado was going to say that, hey, from 2021, employers have to disclose pay rates and ranges for job posts of any job that could be work in Colorado, including remote jobs, which I thought was kind of interesting.
Starting point is 00:30:48 And then we have companies like Buffer and Whole Foods have been doing this for a while. Buffer kind of tried to like make an aim for themselves by being like the open transparent company. We'll share everybody's salary. And like literally you can like here's a link. You can go and see everybody at Buffer's salary. Whole Foods lets you. Whole Foods you can see people's salary. You put that in there or Brady did.
Starting point is 00:31:09 I don't know. I haven't seen that one. But I wanted to share a couple interesting things I found when I was digging into this. So first check out this spreadsheet of Buffer salaries. I just put it in the chat. So you can click this. Anybody can Google this and find it. You can go and you can see that Joel, the CEO, is making $280,000 this year.
Starting point is 00:31:26 And you can go see what his EA is making. She's making $89,000. And you can just go down the whole company roster. Everybody's salary is public, which I think is pretty insane, but interesting. Then you have things like the Google kind of secret spreadsheets. I don't know if you've seen these, but at big companies, people are starting to like just make an anonymous spreadsheet and say, hey, put in your salary and your level and your location here. So we can all have more transparency.
Starting point is 00:31:53 You don't have to put your name next to it. And they circulate it with inside company. So Microsoft had one, Google had one, Facebook had one. And the Google one, I forgot who was. Some woman created this. And within two days, 10,000 people had put in their information. And now there's over 20,000 people in the open Google database. And you can go see.
Starting point is 00:32:13 Can you link to that? Yeah, it's right here. I have it at the bottom. So these are kind of cool and it's interesting how viral these go. So then I was looking at levels. FYI, which I know you know about. Yeah, yeah, yeah. It's a place to go see, like, you can go and say,
Starting point is 00:32:31 all right, I'm interviewing at Amazon and Facebook. And they labeled me an L5 software engineer located in Bay Area. Like, what am I going to get paid? How much is, or I got an offer. I don't know if that was a fair offer or a low offer. Did they lowball me? And so you can go on levels at FYI. and it's the same thing.
Starting point is 00:32:46 Crowdsourced information about what you make at these different companies. And levels, if you look at their traffic, they're getting about a million and a half visits a month. And like this thing is really elevated from a side project to something like pretty legit. So they have like job boards now. If you click at the top, they actually have the thing we were talking about last episode,
Starting point is 00:33:05 a negotiator as a service. So if you click the top, it's a sick little website where they have a little calculator that says, you know, what company, where are you located? How many years of experience? here's what you're getting, here's what we think you should get paid based on the levels database,
Starting point is 00:33:17 which is now in the, I don't know, tens of thousands of entries or something like that. And then they basically say, hey, if you pay us 500 bucks, we'll negotiate your offer for you. We have former recruiters from these companies that freelance with us. And basically you book a time, you talk about your offer and how you're feeling about it and what you're, what you really want out of this. And then we'll negotiate for you. And they show all these success stories of like, this person at Facebook got 20,000 more than their offer. this person got 40,000 more.
Starting point is 00:33:44 This person got 10,000 more. And so they're taking, and they just take a flat fee of like whatever, 500 or 600 bucks, I think. And so I think there's some interesting stuff going on in this like transparency around what people are making. And it really goes and like fits in my values where I think it's crazy that people don't talk about money more. I think it would help everybody if you talked about money more.
Starting point is 00:34:05 And it would be less like kind of taboo and less less like a big deep dark secret if people were more open about it. And I think that's the way. All right. Can I give you a counterpoint for that? Go for it. I thought that that was interesting. And I'm not saying how I feel, because I'm still thinking about it.
Starting point is 00:34:21 But Leo, I forget his name, Leo, but he did. From Buffer. The co-founder of Buffer who no longer works there. So Buffer started with this whole transparency thing. That was like their whole schick. And it worked. About everything. Users, revenue, salaries, everything.
Starting point is 00:34:41 It was a schick. got popular amongst bloggers. In particular, there's this guy named Pat, and he has this blog called Smart PassiveIncome.com. I used to read it when I was 15 or 16 or 18, something like that in high school. And he would make money by creating books and doing a bunch of other side businesses, and he would reveal his income every single month. And other bloggers copied him. And it was a really cool thing. John Lee Dumas did it. All these really cool people did it. Buffer did it. And that was their stick to get popular and it worked because the buffer's product isn't really special. There's so many different versions and they did it. Leo, Leo said in an interview,
Starting point is 00:35:23 someone was like, this whole transparency thing, it's pretty cool. Like you guys got traffic and everything. Do you think that it would work? And I believe, I don't want to quote them because I saw this a year and a half ago, two years ago, but something like this works now and it's great for us, but I have a feeling when we get to 75, 80, 90, 100 people, it's not going to work anymore and it's actually going to hurt us big time. And I forget exactly why, but I believe Steve, man, I'm getting all my names screwed up. Someone else at Apple, like a headhantro at Apple said something that's similar. He's like, no, the transparency thing, it actually can hurt. It hurts the company after a while and we tried it. And so I actually think that maybe this is good for
Starting point is 00:36:01 startups, but it kind of sucks after a long time because look, let's say you own a small business, that does 20 million in sales and you're the business owner and you wanted to pay yourself $3 million a year, that's pretty shitty then if you're a $50,000 receptionist or something. But that's like you're a right to do that. Why would you want to share that with everyone? Yeah. As the employer, it's not great, right? Buffer used it to get a bunch of traffic because it was an effective growth tactic for them.
Starting point is 00:36:30 Hey, if we're open about this, we get a bunch of people asking what the heck is Buffer and some of them will use it. but as the employer it's not great. As the employee, it's great. And so it depends kind of which side of the coin are you on. Also, it depends how far you go. The buffer thing where they write everybody's name and how much they make, bit much.
Starting point is 00:36:47 But the Google thing where it's like, hey, look, there's thousands of employees here. I need to know that within my level, within my kind of area, am I underpaid, overpaid, or, you know, somewhere in between, it gives people peace of mind. And it gives them, you know, an opportunity to get more sort of fairness or equity in terms of being able to negotiate with information, information that the other side has that you don't have. So I like it from the employee perspective,
Starting point is 00:37:12 and I think it's, but I wouldn't go the buffer way of writing everybody's names down. Now, at a small company, cool, that kind of happens. But I thought that was, I think it's kind of cool. I think there's definitely interest around this. So a couple little ideas of things that people could do. So levels. .fai is cool, is working.
Starting point is 00:37:31 I'm surprised as somebody like, you know, our buddy, Andrew Wilkins, and doesn't go buy a company like this. It's kind of an N of one company. It has like a unique data advantage. It does job boards, which he loves as a business model on top of all this traffic that they're getting.
Starting point is 00:37:45 And it's kind of like a side project that's probably like, you know, reached the max of which, you know, the two guys behind it really can take it. The other ways that you could do this, I think you can do this in any vertical. So I don't know, is there levels of FYI in the like hedge fund world or consulting or banking?
Starting point is 00:38:02 like if you're in those worlds and there isn't a tool like this, you should just make the levels of an FYI database for your industry. Nursing, I don't know. Whatever the industry is, this product can work across those. And so I think that's cool. Even within levels, somebody could go further and be like, all right, I'm going to take product managers or data science and really own that if they were somebody who has a big audience for that.
Starting point is 00:38:24 Like if that guy Lenny, Lenny who's got a big blog and kind of audience around product managers, he could do this for product management and do it. better than levels can generally. So I think the levels concept could be exported and done in different areas. When we first launched, like maybe the first couple months of launching, so we didn't have an audience. And I'm saying this so anyone could do it. We didn't have an audience. I wrote a post called how much money do founders make? Because I was trying to figure out like, do I pay myself? Do I not pay myself? Right. Whatever. And if you Google how much money do founders have in their bank account, the hustle, you might see it. And all I did was I took a Google form and I posted it on Hacker News.
Starting point is 00:39:02 And it went to number one. They eventually took it down because I think that goes against their terms of service, like I have a survey. But I got like three or 400 replies. And I asked people how much money they have in their checking account, how much they have in their bank account, how much they pay themselves, how much they have in illiquid assets.
Starting point is 00:39:18 I got 100. And then what their job title is and where they live. And I got hundreds of replies. And I published all the data. And I took out any information where you could like learn about someone. And people loved sharing anonymous information. information and they loved reading anonymous information. Like they loved like it was amazing.
Starting point is 00:39:38 And so I agree. I think it's pretty sick. And it was way, oh, there it is, I'm where it is. It was way easier to get people's, I'm not like literally getting their information because it's all anonymous,
Starting point is 00:39:49 but people were so forthcoming with us. It was pretty cool and pretty interesting. Yeah, I want somebody to do this with VCs. I think most people don't know how much VCs make and all the different people in the food chain like the GPs versus like a partner, versus like associate or whatever. And I feel like somebody should like kind of crack that egg open and be like, look,
Starting point is 00:40:09 here's the numbers. Here's what it is and anonymize it. But give people some transparency into what's really going on. Let's talk about this for a second. So there's two companies that come to mind that are interesting to me when we're talking about this. The first is pitch book. You know what pitch book is?
Starting point is 00:40:24 Yes. Do you pay for it? It's so expensive. No. My sister-in-law works there though. And so every once in all, she'll be kind enough and let me, yeah. ask her a question of like to look up. No, I don't pay for it because it's really expensive.
Starting point is 00:40:37 It's like $25,000, I think. Yeah. So Pitchbook, it's kind of like crunch base but souped up. And so you pay 25 grand and you get access to like a lot of information about privately health companies. The second, well, let's just talk about Pitchbook. The reason it's interesting is they have a team of outsourced folks. I don't know which country they're in, but I think the Philippines.
Starting point is 00:40:57 And they literally have like 200 people. And by the way, Pitchbook is a public. trade a company, you can go and read about them. They're owned by Morningstar. So you can actually go and see their operations and how they work. They're growing like crazy. They're north of 100 million in revenue. You can, they have a team of folks. And what they do is call VCs. And they literally just ask them information or they call companies. They just ask them information. And for some reason, I don't know how or why people give them information. And that's one of the ways, one of many of ways that they get data. The second thing is this, uh, business called, is it called the org? Is that what it's
Starting point is 00:41:31 Yes. Okay, the org. Very interesting because in a nutshell, their tagline is the org. Transparency starts here. Build a better organization with a public org chart. Celebrate your colleagues. Basically, that's just kind of crap. Let's not read their marketing. Yeah, really what it is. I mean, I'm sure they do all that nonsense. But it's a fucking, it's an org chart. It's a public org chart. Yeah, you pay money and you get access to people's org chart. And this helps you know who to email to sell shit to. Right, exactly. And that's cool. Like there's no, I don't know why they don't just say that, but they've raised a lot of money. Like, I think tens of millions of dollars is probably going to be a monster business. And so I would do two things with a salary thing. One, I would actually hire people in the Philippines or whatever and just hit it hard and just go out and hit it hard.
Starting point is 00:42:22 And I would trust that a lot of people would be actually pretty transparent. And the second thing is I would pay wallet kind of like the org. and I would sell this to every HR department in the country. So I have a friend that is doing this with Shopify sales. I showed him a way to roughly estimate how much a, not roughly, it's pretty good, estimate how much sales a Shopify store is doing. And what is that one? Can I get?
Starting point is 00:42:52 You don't have to say it's true. Is it because you order from them and you see what the order number is? That's one of the ways, yeah. And that's one of the best ways. I showed him, I said, look, this is, this is useful. People want to know what their competitors are doing. And the second way is you look at the traffic. Yeah, you still need a couple other pieces of information. For example, you need to know how much the average order is and things like that. But, but roughly that will tell you, you know, how they're doing. And so now he emails me a report every month that shows me, you know, these four companies that I decided, hey, I want to track these four companies. And he emails me report. This is their sales. This is their, this is their, social media following. This is how many ads that they're running on Facebook. And one other thing, which is just like the month over month changes between those. And I think it's a great idea. So he was kind of looking for something to do. I told him, look, I think this is a good pivot. I don't know exactly
Starting point is 00:43:45 how all he's doing. I should really shout out the name, but I kind of don't remember. Let me look it up while we're doing this. How did you find this person? He was in my mastermind. Let me see what his thing is called. It's called. Okay, dramatic pause. Let me figure it out. And you came up with the, with the, I told him. I was like, look, he, because he was like, dude, I'm good with data. I'm interested in this kind of stuff. But I also like, you know, I also have a team of the Philippines. And, you know, so I really like this. Okay, so here it is. So the website is shop sales data.com. And I hope he gets a bunch of more customers from this. I hope he's still doing it. He still emails me my report. I hope he's taking more customers right now. But it's a monthly report of Shopify competitor data in your inbox every month for $100 or something like that. Yeah, this is great. I mean, you could do the same with Facebook ad accounts just like because Facebook shows everyone their ads.
Starting point is 00:44:49 You can say, you know, email me, my competitor's ads every time they launch a new one. Exactly. And so I think that there's like there's some good stuff in this kind of like data, data-based businesses where you're just collecting data from public sources. You're cleaning it up. You're structuring it. and then you're offering it as a service to a bunch of other companies. Okay. You want to do a mini one?
Starting point is 00:45:10 Do we have a mini one? Yeah, let's do a quick one. What else we got? Do you have anything good of like your first week working at a real job? It was my first week. And now it's in my second week and I'm sitting on a beach in Hawaii. So having a job rocks. I should have done this years ago.
Starting point is 00:45:35 I love having a job. It's cool, man. HubSpot announced that they had a billion dollars in revenue, like, a run rate. It's pretty amazing. And so there's like two things. This is like my first like real job or like a corporate job. I mean, that's not exactly true. Like I would have friends, like my friend Neville, who is like a works for himself.
Starting point is 00:46:01 He would be like, hey, do you want to go hang out on a Wednesday like at noon? I'm like, no, dude, I have a job. Like, so I treat like running my company, it was 100% more than a job. It's two jobs. It's more than it. It's, I would call it a nine to five. I'm like, yeah. Like I'm, in fact, way more than nine to five.
Starting point is 00:46:14 But I was like, I'm like pretty straight. Like I get to work at nine. I do my thing. Like anyway. So I tease about this. But yeah, first like corporate job. It's, it's going to slow down. But like the amount of meetings is pretty crazy.
Starting point is 00:46:32 And I told them I'm not doing meetings like this. more because I'm going to make stuff. But I don't know how it's still crazy to me how people find time to get the actual work done. Yeah. I realized how that works, which is just that managers don't get work done. Managers just go to meetings. And then ICs or individual contributors as they're known are the ones who actually sit down and do work because they don't have, you know, back-to-back meetings throughout the day. but I think even like your work is basically just communicating between people
Starting point is 00:47:08 but my seven days of working has shown me that even ICs have a lot of meeting yeah they should they should not have that many they should have like whatever one or two or three a day but uh they should have like you know somewhere between three and five hours of uninterrupted time yeah like so is that a like I just don't understand how people so like I'm telling everyone at husband I'm like
Starting point is 00:47:29 no one talk to me for these hours I have I like like and I'm like this is I and I say I say it nicely of course but I say I'm doing this for the better of everyone like I'm going to make good stuff so like let me go up my hole and you just just don't bother me. What's been the worst part so far? The meetings. Let's be honest. Okay.
Starting point is 00:47:48 What the meeting is boring or just the amount of them? The amount. And also like I didn't know what work day is and all this stuff. There's just so much paperwork that I've always had people do for me that I'm having to do. What's the worst part? You know, like everyone's like, is having a boss weird because I've never had a boss before? No, I think it's going to suck after a while, of course. Like having a boss might suck.
Starting point is 00:48:09 I'm so pumped. I don't have to like, I get to just shovel shit onto Kieran's plate that I don't like, I'm like, hey, you know, should we hire this person? Like, I don't have to make that decision. I love that. I love that. I think it's awesome. So having a boss has not sucked so far. I don't know.
Starting point is 00:48:27 What do you think would be the worst part? So I'll tell you if they are. What was your worst part? there's certain meeting types that you have to do that I just found like completely soul-sucking. One of them was called a calibration meeting. It's basically like, even just describing it, you know, gives me some pain here. Basically, it's like you're trying to promote people, but how do you know, like, if every manager has their own criteria for promotions, how do you make sure you're promoting people equally
Starting point is 00:48:55 and fairly throughout the company? So you have to do these things called calibration meetings where you sit down and you basically say this person's up for promotion or they get they're getting promoted because of this, this and this. And then other person says, well, you know, I felt like they weren't, they weren't great at this or they didn't do a great job with that project and you have to kind of defend them. For me, it was boring on two levels. One, first and foremost, I didn't know anyone else in the company. So I just sat there for three hours, not being able to say anything because I didn't interact with any of these people. I just got here. I just got bought. I don't know these
Starting point is 00:49:25 people. I can't give any input nor do I have any opinion on if the feedback is valid or not. And the second thing, I was just like, wow, even after all this talk, like, I still just feel like the person who's the most vocal and best salesperson is getting their way. And the person who's not that great at talking is not getting their way. So, like, we could have just skipped all of this. Like, it would have almost been better had we not gone into this room and said, you sell your person and you sell your person and you debate this person. It's like, the better debater wins in big companies. And I think that that's like really crazy. Well, I think we do at our company all the time, which is like, if we'll say, like, if a meeting sales for 30 minutes
Starting point is 00:50:04 and, and like in the meeting, I'm like, okay, I said what I had to say. I don't need to be here anymore. I'm leaving. Or like, it's very, it wasn't considered rude to be like, hey, you need to leave now. You're done. It was like kind of a helpful thing. And I'm still trying to figure out how to politely do that here. I'm like, do you guys need me here? Can I, can I leave? Right. Or I'll just say, I'm out. I've said what I need to say. I've heard what I need to heard. You guys can talk. Yeah. Especially on Zoom or whatever. You just sort of like, you hold up, you wave and you click exit. The second thing is HubSpot is doing really well. And just the software business. And this sounds like just like obvious stuff from anyone who's in software. But I've never been at a company like this. Man, if you figure out how to get a, if you figure out how to reduce your churn to to very little or even positive. So for every dollar someone spends, it's above $1.
Starting point is 00:50:57 the next year. And you pick a big enough market. It's just magical. Like just now I understand why people are saying like, oh, you know, why is this company valued so highly? It's like, well, because sticky revenue, software revenue. So something like, I don't know if HubSpot would be considered this, but something for sure where you're building an entire business off of, and you know that the switching costs are quite high. It's pretty amazing. Like, software business, like just start a software company. It's so much better than everything else. Like, it's really hard and it's a slog early on. But if it really truly, if you can get your turn to be right and you pick a big enough market, it's just, and you have a, and you can figure out how to have a good
Starting point is 00:51:36 marking machine, which all this is like, oh yeah, if only you could do that. Like it's, I know, but like, you can kind of figure it out actually. I think given it up, if you, if you give yourself like five years to figure it out, I think you can. Well, I think all the things you're saying are true. And they really just point to this one lesson I've learned the hard way over and over again, which is, it's much more important to pick what game you play than to try to be the best player at a game. Because if you pick the wrong game, even becoming the best player still ends up in a small outcome or a really painful path. But if you pick the right game to play and whether you become the best or not even the best, but just kind of the top 25%, it's just so much better to win that way. And in this case, like, if we talk about and we've done different types of businesses, right, we've done, like I did social network.
Starting point is 00:52:24 I try to make a new social network. This is the wrong fucking game to play, dude. It's so hard. So hard. So it's a low chance of probability of success. You did a media business. Also hard. Hard, you know, higher odds of success, but like lower size of the prize if you get it right.
Starting point is 00:52:39 Way lower size. Ecom, you know, just a fucking pain in the ass. Just tons of headaches all the time with your supply chain and logistics. You've got real world products and you have to like ship them all around the world and you're going to have customers who have returns and like things that just like are not as easy. as software. And so like we've, and, you know, we talk about all these different, you know, doing a paid newsletter or whatever. Like there's all these different models.
Starting point is 00:53:04 And for my money, by far, the best one is to build a software business because a software business can scale. A software business can like be improved over time. And, you know, unlike e-commerce, when you make a crappy e-commerce product, you know, you go make a better version. The next, you know, it takes you six months to make it. And then you make it. And all those old customers, you go.
Starting point is 00:53:24 got the bad products still think you suck. Whereas with software, you push the update and all of a sudden, every single customer has the new best thing. You know, there's all these just tiny advantages and software is the way to go. But I want to say something that David Siegel, so we had David Siegel on last time, he had a billion dollar or close to a billion dollar tea business. And I go, David, why are you doing brick and motor stores when you could be doing software? And he said the right thing. What did he say? It was like, oh, it's fun. I love selling product. And I was like, like, that's the best answer. That is a wonderful answer.
Starting point is 00:53:58 And I think that like, will I ever be able to start an enterprise software company? I think that if I was going to, it would either have to be very soon or even a few years ago. Like you have, you have to do it. I think when you're like really like where money is the one number one thing. It's like I got to get paid. I got to get my hit. And in that case, yeah, I would do anything to make money. But where I am now and where I think where a lot of people are is you really, it's, I agree.
Starting point is 00:54:24 with everything you said, but you have to add the, and also not like passionate about, but what excites you enough that you're willing to get good at it over a decade. Right. Well, let's let's take you, okay, you're happy at HubSpot. Everything's great. You're going to be there for 20 years. We know that alternate reality. You know, we all know you're happy at HubSpot.
Starting point is 00:54:45 You'll be there for two decades. It's great. It's, you know, sunshine and rainbows. Let's say alternate reality. They fire you tomorrow. You're going to go build something else. where do you think you would go build? Would you do what your, would you go media?
Starting point is 00:54:59 Would you go something totally different? Would you go software? What do you think you would do? Everyone's going to laugh at me because I say trucking. But I would do maybe something, something in the agriculture space. Yeah. I think ag tech is, ag tech is interesting.
Starting point is 00:55:15 I think that's the most interesting. I had a great call with this guy who I'm going to, we got to have this guy in the podcast. His name's just, His son's name is Jordan. I can't remember. Rob, Van Trump. It's called the Van Trump Report.
Starting point is 00:55:30 So Van Trump Report. It's this guy who has a newsletter that does $20 million a year in subscription revenue. He's the only writer. And he was telling me all about ag tech. Do you know what ag tech stands for? Yeah, agricultural tech. And he was just saying all types of like what's going on. And I think working with like middle America people who, whether they're rich or not,
Starting point is 00:55:52 they're more humble and they create things that actually implements. the world, like get food to you, I would do something in that space or I would start another media company. But, okay, let's say you go into ag tech, and you're probably going to be open and whatever, you know, you'll think of it then. But knowing what you know now, would you do media in agriculture? Would you do, you know, something with actual farms and logistics? Would you do technology, you know, trucking, actual self-driving trucks?
Starting point is 00:56:20 Would you do a job thing? What would you, what model would you be wanting to do in that space? Well, okay. So I don't like this question because it'll change every single day you asked me. But as of right now, I would start a blog in the ad tech space. And then eventually I would turn it into a database. I like this, this company, the org. I think I could create something like a database that's better.
Starting point is 00:56:46 And yeah, that's what I would do. Okay. Nice. I think that's what I would do as of right now. that that fascinates me or I would create um do you know what tiger 21 is isn't that like a like a kind of a club conference or club or a mastermind thing or something like a club for people who have investable assets north of 10 million dollars and it costs 30 grand a year it's and they have like a thousand people who are subscribed and uh my friend joined and I looked at the back end and it was
Starting point is 00:57:11 horrible and I was like oh I'm just going to clone that and what do they do with the with the members is it events or is it uh it's like both, but like they create like, um, like little like safe communities where like you meet in groups of 10 and you kind of show off your portfolio and people criticize you and like try to defend, make you defend your position so you get better. But it's, it got bought by private equity. So it makes a lot of money.
Starting point is 00:57:40 All right. That's cool. I feel like I can rule the world. I know I could be what I want to. I put my all in it like no days off on the road. Let's travel. Never looking. Back line.

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