My First Million - How To Get the Most Out of Every Event, Surprisingly Successful Keto Businesses, and the World Premier of Southern Sam’s Sticky Icky

Episode Date: November 11, 2021

MFM hosts Sam Parr (@theSamParr) and Shaan Puri (@ShaanVP) talk about how to get the most out of any event you attend, keto nutrition businesses that have been crushing it, and even brainstorm the cre...ation of MFM's latest spinoff project: Southern Sam's Sticky Icky.  _____ * Do you love MFM and want to see Sam and Shaan's smiling faces? Subscribe to our Youtube channel. * Want more insights like MFM? Check out Shaan's newsletter. _____ Show Notes: (01:07) - Getting the most out of events (05:28) - Elon Musk's latest tweet & Charity Water (27:11) - AJ Patel (30:37) - Quest Nutrition (37:04) - Southern Sam's Sticky Icky (43:00) - Oklahoma Smokes (46:13) - Roast of Zillow and OpenDoor

Transcript
Discussion (0)
Starting point is 00:00:00 Like, yeah, if you want to pre-buy Southern Sam Sticky-Ikey, you need to just, I don't know, DM me on Twitter. My Twitter is Sean V-P, DMV and say, I'm in on Southern Sticky-Ikey. I feel like I can rule the world. I know I could be what I want to. I put my all in it like my days off. On a road, let's travel, never looking back.
Starting point is 00:00:23 All right, before we get in the episode, we got to say something really quick. Sean, I sent you that thing to share. So if you go to Sean and ORI's Twitter profile, you'll see it. Or you go to rate this podcast.com slash MFM. That stands for my first million. Rate this podcast.com slash MFM. If you leave a review for us on Apple Podcasts, we're going to select one person.
Starting point is 00:00:44 Or are we selecting one person? Oh, no. We're selecting six people. We're going to give a grand to six different people. And we'll announce that winner in a couple weeks. We're doing this because if we get more reviews in a very particular amount of time and you get more momentum, you go up the charts.
Starting point is 00:00:57 And if you go up the charts, you get more listeners, or at least that's the hypothesis. So we're incentivizing people. If you get more excited, our egos grow. And I know that's what everybody wants. So let's do it. Yeah, I just went to a conference today, Cody Sanchez's conference to talk. And dude, everyone listens. It's pretty fun.
Starting point is 00:01:14 How was a conference? So she has, her brand is like contrarian, contrarian capital, I think it is. And so this was the contrarian conference or something like that. Yeah, and I love her and I love the conference, but it was kind of silly. Like in my head, I was making a joke because they had contrarian merch and they had like hundreds of the same ones. And I was like, well, if we all bought this, like that's, you know, it doesn't really work that. You know what I mean? Like, so anyway, it was great though.
Starting point is 00:01:44 No, she was cool. I asked, I think there was probably 300 people I asked who listened. I feel like everyone, all their hands went up. People were talking about us. They always confuse our voices, but we get that all the time. All right. I love it. And I was supposed to go to that. I didn't go. You went, there's a bunch of different motivations people have for going to these things. What was your motivation? Because some people would say, oh, going to these conferences, kind of a waste of time.
Starting point is 00:02:08 And other people say, no, I love it. I'm network. I learned things. I just want because she's, she's my friend and it's near my house. And then in general, but you've gone to some of some other ones like this, like the podcast one you went to recently or stuff in New York. What, I guess, give people how you. you think about this stuff because I think it's good to have like a frame of like, okay, this is why I go to these. This is how I go to them and this is what's come out of it for me. I like meeting people who I know on the internet. That makes me feel good. And I also like going, you know, I've paid money to go to some events. I've paid $5,000, $10,000 to go to some events because I can meet one
Starting point is 00:02:45 person and become a lifelong friend with them. And that pays for itself, but makes me happy. So yeah, I don't mind going. Yeah, I do the same thing. I kind of have in my head. I'm here to learn one thing. Like I want to have one great idea, like a truly great idea. Maybe it's a tactic, a marketing idea, a realization of something I need to change or a new business idea, a new, whatever. So one great idea is my like bar and then one great person. If I do that, it's worth it. That's like such a low bar.
Starting point is 00:03:15 But what's better, like the good part about that is then you go hunting. You're saying, oh, I'm here to meet one great person. Who's a great person? And if you're talking to somebody who's not that great, you're like, all right. peace out. I'm going to go bump around and see who else is here, right? And same thing with one great idea. You can listen to a talk and you might otherwise kind of zone out or say, oh, this doesn't apply to me. But if you're just on the hunt for that golden nugget, the one great idea. And it's like, dude, in the eight hours of this event, there's going to be at least one great idea. It changes
Starting point is 00:03:44 the way, for me, at least it changes the way I attend these things. Yeah, I agree. I'm the same way. And speaking of great ideas, I want to talk to me about let's go to these three. news stories that you want to go over because I actually I think you selected all three and they're awesome they're awesome all three are pretty good so all right so I have three you have one let's start with yours you have one that's about Elon tweeting about the uh Elon tweeted something about giving away six billion to world hunger that what I heard was you tell me if this is correct my wife told me this story she goes do you hear you know somebody tweeted out or there's a new story that said you know these billionaires Elon's the richest man in the world now if he you know
Starting point is 00:04:22 with $6 billion, he could end world hunger. And then he replied to it. He was like, if you could show me that $6 billion would end world hunger, I'll write the check now. Like I will happily do it. Just show me that that's the case. And so that's all I know about this. What did you?
Starting point is 00:04:39 Oh, you don't know what happened after that? Okay. So someone, I forget who, maybe CNN said, if the billionaires would donate $6 billion, we'd cure or end world hunger. Elon, like you said, replied and goes, and his language was great. He goes, show me how that will happen. And I will sell Tesla stock right now to pay for $6 billion of this stuff.
Starting point is 00:05:00 And I forget the exact title, but something like the head of the United, was it World Hunger or United Nations? Some like official international body, the head said, you know, better yet, you know, Elon just come and we'll show you our processes and how we work. And Elon said, no, sunshine is great. tell me in tweet form how this is going to help and where the money will go. And I will send you the money right now. And he goes, you know, this is just too complicated to say over Twitter. And I think, and I'm not like the biggest Elon Nuthugger, I think that this totally made Elon look great.
Starting point is 00:05:38 These types of things should be done in a very simple way where you can explain what's happening. You don't have to say like, you know, exactly, but you could say like, you know, 30% of the budget is going to go to hire around 10,000 people who we think can get, about this much, you know, whatever. That is a good enough answer. And the guy didn't do it. Total miss. And when we were talking to BitCloud guy, Natter, a few days ago, he was explaining what he does. And then you go, no, no, no, no, no. This is what you do. And you explained it so much better. And he goes, oh, that's how I should always explain it. Everyone should have that skill that you have. And you could actually develop that skill. It's a skill. It's not just a talent.
Starting point is 00:06:16 And anyway, this guy blew it. And I thought it was an awesome tweet thread. You know, so two things. One is on that skill. So how do you develop that? I'll give you two kind of unorthodox ways that you develop it. The first is you got to have bullshit callers around you. So like, you know, the way I was like, no, no, no, dude, that's way too complicated. Most people just won't say that to somebody.
Starting point is 00:06:39 And there's this great clip. I know you like, you watch some Joe Rogan as well as I do. And there's a great clip of Brian Callan, who's one of the kind of friends and the crew of Joe Rogan. And they're doing their fight companion podcast, which is where they just watch the fight and they're just shooting the shit, drink in and eating cheese
Starting point is 00:06:57 and drink of wine and eating cheese and they watch the fight. And like, I don't know, 100,000 or more people will tune in to like hang out with them while they watch the fight, even though the fight's not visible on the screen. That's just how fun it is to hang out.
Starting point is 00:07:10 And during this thing, Brian Callan, who's a lifelong, you know, like a comedian. He's kind of like a scrawny guy. And Joe's kind of like a former martial artist. He's sort of like a meathead. And the other guy, guy on there is an ex pro fighter. So a bunch of kind of like bros. And Brian is saying something. He goes, Brian's like, oh, man, if somebody ever tried that on me, bro, you know I would,
Starting point is 00:07:30 you know what I would do. And they were like, and they just kind of moved on for a second. And then he's like, and the guy said it again. Like nobody really addressed it. And he's like, he's like, he's like, I would never let somebody. It would be, it would be on. And then and Joe's like, Brian, what are you talking about? He's like, why are you saying shit like this? He's like, you know, you don't, you're not going to do anything, first of all. And he's like, he's like, the problem, Brian, is that you hang out with people that will let you say shit like this. And he's like, you need to stop hanging out with whatever type of people let you let you get away with just saying things like this and just, you know, letting it fly. And after that, I just thought that was hilarious.
Starting point is 00:08:09 And then I started noticing, oh, there's some people in my life. And I call them, you know, the people who will tell you there's food in your teeth. It's like there's two types of people. There's people who will see it and not say anything. And then, you know, four hours later, you get home and you're like, bro, what the hell? I had spinach in my teeth the whole time. Why didn't someone tell me? And then there's the person who will cut you off and be like, yeah, you got a little something in your teeth there.
Starting point is 00:08:29 And you're like, oh, shit, I'm embarrassed. But like the embarrassment was localized to the moment. And then you like saved yourself from there. That's a true friend. And so you want people around you that will tell you when you're saying something that just makes no sense or is confusing or is like delusional or whatever. And they're just like, what are you talking about? Why are you saying that? You say stuff like this all the time.
Starting point is 00:08:48 This doesn't make any sense. Or you say stuff like this. And honestly, I think you think that's really awesome. But when other people hear that, they don't hear really awesome. Like we asked to Brayu. A Brayu who used to work for us and we love. He was explaining to Sean and I what his new business does. And he wrote this long paragraph.
Starting point is 00:09:05 And I think Sean goes, I don't know what any of those words you just said mean. And then he was like, I buy, I buy land. But before paying for it, I hurry up and resell it to someone. else to make a profit. It's like, okay, great. Now I understand what that means. Right. Yeah. Well, actually, the first thing he said was, bro, I just wrote you two paragraphs. And I didn't even have to address it because he knows. If you wrote two paragraphs and I don't know what you, I don't know what you do still, that's on you. That's not on beat. And so, you know, the burden's on the owner. So one thing is having people like that around you. The other thing is hanging out with somebody who's good at it.
Starting point is 00:09:43 And maybe, you know, hopefully for some people, listen to this podcast helps them because I think we both do a good job of explaining stuff without too much jargon. You try at least. And so the more you hang out with people like that, you'll just naturally through osmosis. Like, you know, this, it'll just pick up. You'll be like a sponge. It'll just come right into you. You'll just start getting better at it because you've heard our voices in your head all the time.
Starting point is 00:10:03 And so hang out with people who do it. Like I have a buddy, uh, sully who's great at this. You're really great at this. Ramone's really great at this. So like our best friends all are really good at just saying things for what they are in a way that's simple and easy and fun to understand. And like, so then you by nature, you know, you'll naturally get good at it.
Starting point is 00:10:21 Speaking of friends, what, uh, what did, so I was out to dinner with Moy's the other day and he made this comment about Casper. He ends up tweeting it pretty brilliant. You want to talk about that? I do. Can I say one thing about the Elon? Yeah.
Starting point is 00:10:34 So, so the guy from World Hunger who's like, oh, it's not that simple. I can't really break it down. All right. So that's obviously a loss on their end. But there is a great example of a charity who does this well. So have you seen what Charity Water does for their like accountability? Because what Elon said was the whole thing, I'll donate the money.
Starting point is 00:10:54 My only thing is it has to be kind of like open source and transparently accountable where the money is going and what's the effect of it. Jack Dorsey did that as well. And he just Jack Dorsey did it with a fucking Google spreadsheet. Right. Yeah. He said here's the here's all the money. Here's where it's going.
Starting point is 00:11:10 Here's the schedule. And here's it's a Google doc that anybody can go view. And you can't edit it, but you can go view it at any given time and see how the money things go. Amazing. So the founder of Cherry Water, he, his story's amazing, but like I'll give you kind of the fast forwarded version of it. So fast forwarded version of his stories, guy named Scott Harrison. He, he grows up. And when he's a kid, his mom got this like terrible illness.
Starting point is 00:11:36 She basically, she was a stay at home mom. So the dad goes to work, kids go to school. She stayed home. And the new house they had moved into it had like a gas leak or something like that. And so it like silently killed her autoimmune system. So she got so, her immune system was so compromised that she could not like go outside. She could not like touch objects that had not been sanitized.
Starting point is 00:11:57 She couldn't do the laundry because like the cleaner, the bleach has chemicals in it and it would just like kill her. You know, they had to like do everything by hand using baking soda six times. Or like if she wanted to read a book, Scott would go put it in the oven first and they would have to sort of like kill all the bacteria like by sanitizing it. heat and then handed to her and she'd wear gloves and they would like slowly turn pages and
Starting point is 00:12:18 stuff like that like it was insane and so he um but but even that whole time they didn't sue the company that had that was responsible for the leak because they were like very religious family and they were like you know this is god's plan and so scott who like grows up with this really unusual childhood he's having to like in many ways be the caretaker of the household because his mom wasn't able to do it he sees his mom suffering he's like dude you know eff this religion shit I'm, I'm gonna go live now. So he turns 18 and he like goes to college. But I think he might have dropped out.
Starting point is 00:12:49 Not 100% sure. But he starts parting like crazy. He moved to New York and he becomes like a guy in the party scene. And Scott, if you've ever seen him, he's a good looking guy. He's sort of like a George Clooney looking motherfucker. Like he's like very like, it's like guy gets gray hair and he looks even him more handsome than he did before. And so. Real Rico suave type of guy.
Starting point is 00:13:08 Very suave. Super great storyteller. They're really funny. He's a great hang. Like, I've hung out with him and you're just like charmed, you know, the whole time. And so anyways, he hits the party scene and he eventually, he's like, all right, I got to make some money. So it becomes a party like promoter.
Starting point is 00:13:24 So his job was, and he says this like, my job was to convince rich guys that they needed to pay me like $5,000, $6,000 to go buy this $100 bottle of alcohol. And he's like, they knew what they were doing and I knew what I was doing and it worked anyways. And so he starts making a killing as a party promoter. And he's got the fancy watch. He's got the model girlfriends. He's got the nice penthouse in New York.
Starting point is 00:13:46 And he's getting paid, you know, whatever, some vodka company will pay him $2,500 a night just to be drinking their liquor instead of somebody else's liquor. And somebody will pay him to wear this watch instead of somebody else's watch. And so he's kind of the man in this scene. But a few years go by and he's like, starts to feel, you know, as you do when you kind of get in this party lifestyle. He starts to feel a little empty inside. Like the high is no longer doing it for you anymore. And I think he was the same. story is he was on this guy's boat. This guy, his name is, what is the name guy? The guy who created
Starting point is 00:14:17 Cirque de Soleil, like guy, Leigh, Canadian guy. Yeah, yeah, yeah. Some name like that. I can't remember off top of my head. Billion or Canadian. Yeah. He's on his yacht or boat or whatever, party boat. And Scott's just in, in the boat, like in the room where he was in, there's a Bible. And he kind of sees it. And he grew up in a super religious household. Then has, you know, become basically like a sinner. And he just sort of picks up the book. And, you know, he's hung over one day. And he starts reading it. he's reading the Bible and he starts to like kind of like get emotional and he sort of has this literal like come to Jesus moment where he's like what am I doing with my life like you know like
Starting point is 00:14:49 I'm not a good person I'm not doing good for anyone in the world and like you know I'm just like partying and drinking it's all a very shallow lifestyle it's like you know these these hot girls and then these rich guys and this like lifestyle that's not great in drugs alcohol that sort of thing so he's like okay and I think also he literally woke up that day and he was like numb in his hand he's like this is like a metaphor. I'm not just numb in my arm. Like I'm numb in life right now. So he's like, okay, here's what I'm going to do.
Starting point is 00:15:17 I'm going to take the next six months. I'm just going to take a six month break from this lifestyle. And I'm just going to what's like the most servant like servant thing I can go do? How can I just serve people? You know, how can I go do a very Christian thing here? And so he applies to all these nonprofits and they reject him. They're like, you're a party promoter. Like we don't.
Starting point is 00:15:36 He's like, dude, I'll work for free. And they're like, no, we don't need. your kind here. He's like, are you sure? Like, I'm good with people. I'm good with like events. I'm good with all this stuff. And they're like, no, no, no. Like where you come from, that's not what we're looking for here. So he gets rejected after one after another. And finally, he gets this one group to agree to let him work there if he pays. So he had to pay to go work there. So he basically made a large contribution to mercy ships, I think is what it's called. It's basically a thing where hot shot doctors in the US, like for one week out of the year, they go on this boat and it goes to Africa.
Starting point is 00:16:11 And then they spend all week there doing like pro bono surgeries on people who need surgeries. And then they come back. And he's like, he kind of is back on his photography. So he's like, oh, dude, I'll take photos of this trip. That'll be my contribution. And so he goes there and he's got the photos still. He'll show it to you. And when he gives his talk, he shows them.
Starting point is 00:16:30 It's like what they were doing was there was kids with like massive like tumor growth. So like, you know, they would have like a huge lump on the side of their head. like the size of a volleyball or like in their jaw. Their jaw would be protruding out like six inches because they had this growth. And like all they needed was just for it to be removed. Like they're having trouble eating, breathing. It's like not even a cancerous thing. It's just a benign tumor, but they just needed it removed.
Starting point is 00:16:52 And he's like, dude, the line was like a mile long. And he's like, the saddest part is we, you know, we couldn't do all the certain. The one week was up and there's still people in the end of the line that didn't get their surgeries or whatever. So he's like, okay, I'm not just going to do this. I'm just going to like, I'm going to go back. I'm going to dedicate my life to like, you know, helping people because I can't believe what I've been doing. And this was so meaningful to me and whatever.
Starting point is 00:17:17 So he's like, he does two things. He goes on the ground in Africa and he says, what is the like root cause? What are some of the root causes of this problem? So he does kind of what Elon calls first principles thinking, which is, why does this person have this crazy tumor in the first place? It's like, well, they might have this tumor because, you know, they are. are, they don't have clean drinking water and sanitation. And so there's like highly infested things. So you found that on all these different axes, like, why are these women, why are women,
Starting point is 00:17:47 you know, falling so far behind in society and not getting high paying jobs? Well, because they actually have to spend five hours a day just walking to the nearest waterhole and walking back carrying this 40 pound, 50 pound jug of water. And that takes five hours in a day. And then they have to use that water quickly and like do all the laundry, cooking, washing of their kids and they're like they don't work and then because of that they're like you know stuck economically stuck so anyways he identifies waters the root cause he's like okay and he asked himself a very important question he goes why have i not been giving to charity like i kind of knew
Starting point is 00:18:19 there's suffering all around the world kids in africa are starving and need water and all this why didn't i give and it's a this is the connection to the elon thing he's like because i always kind of felt and heard like you never know where the money goes or if you gave if you gave and if you do give money. You have this worry. Like, I don't know if this is even making an impact. And they never closed the loop. So you never knew where the money went and you never saw the impact of your dollars. It was just like, thank you. Goodbye. Here's your tax. Here's your tax deduction. Goodbye. And so he's like, all right, I'm going to do it differently. He's like, he's like, he didn't know anything about the nonprofit space. But he's like, all right, like, let's just do the basics. He's like, what if 100% of
Starting point is 00:18:56 the money went to the cause? And he's like, that would like clear up that question mark. He's like, And then he's like also, I'm a photographer. Like, why don't we just take photos of the place where we do the project and send it to the person who gave us the money? Like, if you contributed, we know where the project is. Why don't we just send you a photo when we do the project to say, hey, here's what you did. And so he's like, I'm going to use GPS trackers and photos to make people feel the effect of their giving. And that's what he does now. That's what he does now.
Starting point is 00:19:22 So he goes back to New York. He throws a party because he's like, that's kind of the only thing I know how to do. He's like, I'm throw a party. It's my birthday 30th, 30th birthday or something like that. He's like, throw a birthday party. but instead of giving me a gift at the door charge, I just want you to give $30 to the cause. I'm 30 years old, give $30 to the cause.
Starting point is 00:19:39 And so people come, they have this party because he's got a great social network in New York. And, you know, they forget about it. Three months later, he sent them all photos of the project that they contributed to do. He's like, hey, that all added up. We drilled these two water wells. They used to have to walk this far.
Starting point is 00:19:54 Now, here's how far they walk. Look at the map. And, you know, we turned a four-hour walk into a, you know, into a 10 minute walk. And then he's like, here's what the women have to say. There's videos of them thanking you. And here's like the kids,
Starting point is 00:20:07 you know, here's the water like fresh clean. This is the water they used to drink. It's like dirty. Here's the clean, clear water. That's what you did. And people were blown away. And that became the basis for the charity.
Starting point is 00:20:16 They've raised a ton of money like 400, 500 million dollars. Yeah. Well, the story gets a little crazier. So he's like, I'm going to stick to this 100% model. 100% of money goes to the college.
Starting point is 00:20:25 And people were like, well, bro, there's a reason people don't do that. Like, how are you going to pay for your, own salary or the salary of anybody working on the charity. He's like, we'll do a separate bank account, literally two bank accounts. One, that's public donations that go to the cause and one that'll be private donations for people that want to fund our charity to do this. And he's like, and of course,
Starting point is 00:20:43 people are pretty interested in doing the 100% thing, less people were into the private thing. And that's where like kind of full circle, I guess like, I don't know how long I want to go on this, but I'll give you the kind of the cool, the cool last bit. So he's basically running out of money for the private side, for the actual, for himself. And he's just sleeping on couches. And he's like, you know, I got a backpack to my name. And like, I'm the only employee. So it's fine.
Starting point is 00:21:07 And but even still, he starts running out of money. His friends are kind of kicking him off couches. He's running out of friends' houses to go sleep in. And he's like, all right. He's like, let me just do what, like, this whole thing may end, but I want to do as much good as I can in the meantime. So he's like, you know, this birthday idea of giving up your birthday. Like, we're all pretty privileged.
Starting point is 00:21:23 We don't need birthday gifts. I gave up my birthday. That's how I started this. charity, like instead of giving to me, give to them. He's like, dude, there's these social networks now, Facebook, MySpace, Bebo, that they all have like millions of people and they all have this birthday feature and people go right on each other's wall. He's like, so he wrote a letter to Mark Zuckerberg to like Tom from MySpace and to Michael Birch from Bebo. And he wrote a letter to all of them. He said, hey, you have millions and millions of members on your platforms. They all have birthdays
Starting point is 00:21:50 registered in the platform and people looking for a way to wish each other. It would be amazing if you added a charity button away for you to give up your birthday and let people donate for your birthday to the cause. He gets no reply from Facebook. He gets no reply from MySpace and he gets no reply from Bebo. So he's like, ah, whatever didn't work. Now, a month later, Michael Birch from Bebo says, hey, Scott, sorry I missed this. We actually just sold the company. So he just sold the company for $850 million. And he said, you know, so I can't really implement this here. But you know what? I'm in New York. Let's just meet up for an hour. And so he goes and he meets. with him. Scott gives him the full pitch. Michael's like a British guy. He's pretty reserved,
Starting point is 00:22:31 you know, in person. He's, you know, British people have like a dry sense of humor too. So they're not like the most like emotive when you're talking to them. And so Scott basically sees it feels like, oh, I told this guy what we're doing. He basically didn't flinch and he moved on like, whatever. And he had six weeks of runway left in the bank. He's like, oh, that was my last, that was my Hail Mary. I have six months, six weeks of runway left and then this whole thing ends. But you know what? We did some good work. And then Michael wrote him an email. right after the meeting like the next day and he just said hey Scott loved her chat send me your wire instructions I'll send you a million dollars use it however you wish
Starting point is 00:23:04 keep rocking and the million dollars kept them going for one more year and then since then they've now raised hundreds of millions of dollars for the charity they're like one of the biggest privately backed charities because they have this 100% model and michael got them in with other kind of wealthy tech people and they all like this idea of like accountability transparency and closing the loop on on giving and feeling the impact. Like that just feels right to like kind of the new new wave of rich people. And so it's like taken off since then. That's the crazy story of charity water. That you just gave them a 30 minute infomercial. Yeah. I don't feel bad. I've been with them to Africa and literally it's like it's not only like changing lives, but when he goes there,
Starting point is 00:23:46 people literally, and he's the most humble dude. But I went to the village and people literally feel like he's Jesus. A, because it's like a white man who comes to this village. He's like the only white person never like in the village and be because he like whatever he's doing when he leaves here somehow results in fresh water being like given to our village and they're like thank you whatever you're doing out there is is you know god's work that's badass i should i should give to him i have not but after that pitch i will um can let me tell you about someone interesting have you heard of a guy named a j patel i bet you haven't never heard of him what is it all right you have not heard of him and you're going to be surprised that you've not heard of him.
Starting point is 00:24:24 So this guy's way low key. And I got interested in the space because I've been a lot really interested in low sugar products. Whenever, like, whenever I'm in New York or particularly New York, because I go to like corner stores all the time, you see like moms with their kids and they buy like Hawaiian punch or like fucking Gatorade. Like you. It's a sugar factory. A corner store and a grocery store are sugar factories. It's sad and I feel horrible. Dispensaries maybe.
Starting point is 00:24:51 Yeah. It's horrible. And it's because maybe that's just more convenient. But and people just, I don't think, know better. So I've been doing research. And I found this guy named A.J. Patel. So listen to what this guy's done. So he started a, this, he's only 32.
Starting point is 00:25:04 So he started this thing called Smooth Viking, which was a men's grooming business that he sold. Then he started Insta naturals, which is a natural base skin care business. It did $55 million in 2018. And it's been, I mean, it crushes it. And then he started Zenwise, which was a plant-powered vitamins and supplements. And it was doing okay, like $5 to $8 million in revenue. But then he was like, the thing about vitamins, like people are a lot of people are asking
Starting point is 00:25:32 me for vitamins for my pet, for their dogs, for their cats. And he was like, that's cool. And it's even cooler because you have no idea if it works, right? That's a funny thing about pet stuff. And I give my pet vitamins. And I'm like, does it work? I have no fucking idea. Right.
Starting point is 00:25:47 But I'm doing it. And so he starts this thing called Zesty Paws. and Zessie Pauls is kind of amazing. And so he kind of creates this strategy where he does two things. The first thing that he does is he spends a lot of money up front on making the brand really good. You know, a lot of times guys like you and me will just kind of throw something up there. Yeah, like an MVP, right? The minimum viable product kind of looks shitty and crappy at the beginning.
Starting point is 00:26:09 Yeah. So he hires a agency or a branding agency and they help him make Zessie Paul's like look really great. And then his whole goal is to first dominate Amazon, then, go to retail. And I was doing some research and I used Jungle Scout and I also watched a bunch of videos. So Zessie Paul's recently sold for $610 million. It's estimated on Amazon. They are doing around $800, sorry, $8 million a month on Amazon only and then probably another $7 million through their retail outlets. It costs around $8 to wholesale and it sells for $26. So they could have been doing around $40 million in profit when they sold. And they sold for $600.
Starting point is 00:26:50 $10 million. Now, the reason I'm bringing this up, his new thing is called high key cookie. And I've noticed that when you look up high key co-founder, they don't mention his name. He's trying to hide it for some reason. I don't know why he's trying to hide. I don't know what his deal is. He just prefers being low-key. But he doesn't talk about it too much. I think he just prefer being low-key. But high-key is basically low-sugar cookies. And he's doing the exact same thing where he's getting on Amazon and he's ranking and he's got 60,000 reviews. And it's a pretty new product already. It's pretty amazing what this guy's doing. He's doing the same strategy over and over and over again. Are you looking at high key cookies on? I'm on his,
Starting point is 00:27:29 his LinkedIn right now. So he's listed as the co-CEO and he looks like he's in Florida. How did you hear about this person? Two different ways. I was researching low carb cookies because I'm fascinated by that. Right now, some current obsessions are low sugar cookies. And and low sugar ketchup and other sauces. Right. And I was researching and I saw High Key. And I remember a friend, our mutual friend, told me about this guy who had this thing called Zesty Paws
Starting point is 00:28:02 and his whole strategy was to dominate Amazon and then go to retail. Wow. Very impressive. Very few people have done what this person has done. I think he's 32 years old or 31. Yeah. That's pretty impressive.
Starting point is 00:28:15 Have you tried fat snacks? It's like cute things. So I have a list. list here of companies that are interesting. And I did try fat snacks. And I thought that they were fine. I thought they were okay. But the problem that I have,
Starting point is 00:28:27 so I eat Quest all the time. Are you familiar with Quest bars? Yeah. I like the Quest chips. Because I'm a chip guy. I don't have a sweet tooth. But the Quest, they're basically have like a version of Doritos. And honestly, they're like the only
Starting point is 00:28:41 keto snack that I actually like, I'm like, it actually replaces the craving, you know? Yeah. So I eat a ton of quest, but there's like a big background here. So how do you say is in that last name? Tom Bill you, he spoke at our event, HustleCon.
Starting point is 00:28:57 He's a pretty cool guy. This was actually one of the first D to C kind of home run. So basically they bootstrap this company and within five years sold it for a billion dollars. And they were making, I think Tom's mom or someone in his family was really overweight and he wanted to create a low glyclythogen food, you know, lower carb food for his overweight family member. And he's like, I just needed to taste good so we can replace candy. And so he creates this thing. And revenue is doubling like every month.
Starting point is 00:29:23 And eventually they sell it for a billion dollars when they get to $100 million in revenue. But there's a, it's quite controversial. So I eat them, but a lot of people don't like it because it has sucralose. Or is that how you pronounce it? Superlose. Yeah. That's right. And it's basically like a sugar alcohol.
Starting point is 00:29:39 And they also put a lot of fiber in it. And so their protein. A lot of people don't like it because it's like not the best protein. It also has palm oil. A lot of people don't like palm oil. So a lot of like health nuts, including just a. Maris, who I talked to about this, they don't like it because it just kind of got some shit in there. But frankly, I love it. But the reason why Quest bars are amazing is because they are in every
Starting point is 00:30:02 fucking store. If you go to a 7-Eleven or a gas station, they are going to have Quest bars. Whereas a lot of the other stuff, the reason why I don't consume as much is they're not, they're just not convenient. And so anyway, I'm getting incredibly fascinated with these low sugar products that are in every store. Well, I like the idea of the low sugar sauce. I think low sugar ketchup is a great one to go after. Who's doing that? Is that a business that's like saturated or? No, it's not.
Starting point is 00:30:27 So that's a great idea. I think it's fantastic. And the reason why it's fantastic is when you're trying to eat lower carb and eat healthy, mustard has no calories and no sugar in it. Barbecue sauce is shit. Ketchup, very high sugar. You know, if Hines, Heinz has a $45 billion market cap,
Starting point is 00:30:44 they make something like $7 billion a year just in sauces and condiments. Most of it's like is basically ketchup. And ketchup is crazy high sugar. Their ketchup, the reason why it's that bright red is there's a ton of, a ton of sugar in it. And there was a company called Primal Kitchen, which sold for $300 million in 2018. It was started by this guy who kind of looks like an old version of me.
Starting point is 00:31:05 His name's Mark Sisson, I think, his name. You'll have to look up Mark Sisson, S-I-S-S-O-N. I believe that's his name. And he had a whole line. Dude, he does look like an older version of you. That's hilarious. Yeah, he looks like it. He is ripped.
Starting point is 00:31:20 This guy, I don't know how old he is. He looks like he might be 70. 60s, yeah. And he is like absolutely shredded, which is impressive. Well, I met his face. We kind of have like similar faces, but older. Dude, this guy is, this is you, man. This is going to be amazing.
Starting point is 00:31:34 Wow, you're going to look like this. So he's 68 years old. Wow. Crazy. And so he had this business where he had a blog. He's been a blogger forever, a help blogger. And he created Primal Kitchen, which is a, they make dressings.
Starting point is 00:31:50 Dude, the dressings and ketchup are the worst. Dressings have so much, like an Italian dressing, so much fucking sugar in it. Oh, I'm eating a salad. It's like, how's a salad like 1,200 calories because of the dressing? So I've been like super curious about this. And tell me what you think about this. The problem with a lot of DTC companies is that the cost to acquire a customer is stupidly high.
Starting point is 00:32:08 Right now, I think it's the highest it's ever been. Every year. Basically the highest it's ever been. Correct. But particularly with the Facebook change and competition. it's just getting high. So our friend Andrew created this thing where basically he, this was illegal
Starting point is 00:32:23 what he did, but like whatever it happened. He created a menu and put it on Uber Eats and was just like making low glycemic muffins. So I guess like almond flour muffins at home and putting it on Uber Eats and he just like made the branding really cute. Could you just
Starting point is 00:32:39 create like one of these high key or these low carb cookies or something like that and just put it on the local Uber Eats? start getting customers, put like a coupon code in there. I mean, I feel like that's an interesting way to kind of hack customer acquisition for a lot of these DTC things. Yeah, I think that is kind of interesting. Although I don't know how many people are going to like order just like even a bakery.
Starting point is 00:33:02 It's like, okay, yeah, you're getting like a dozen muffins or cookies or whatever. Like I don't know if people would just go order like a sauce or something, right? No, no. I don't think they would do cookies. But have you heard of Insomnia? By the way, it's only illegal because he just didn't have a commercial kitchen and a license, right? But like, you could easily do that, right? You could do the same exact thing.
Starting point is 00:33:26 If you're just, if you're not doing it out of a, you know, like a home kitchen or whatever, you just need a permit, right? That's the only problem with it. Yes, correct. Have you heard of insomnia cookies? Yeah, they're insane. Yeah, they're insane. They're amazing.
Starting point is 00:33:37 I'm just thinking, like, I think you could do that from a cloud kitchen and then start selling them online. I totally think you do that. Crumble is also, like, growing like crazy right now. I think it's one of the fastest growing franchises. is crumble cookies. But let's get back to this ketchup idea. How do I convince you to start this company? Because you would crush it.
Starting point is 00:33:55 It's in your area of expertise. It's a beautiful market because huge, like huge demand. And it's a consumable. So you run out and you have to keep rebuying, replenishing. And people use a lot of sauce. And you could turn this into a whole, you could extend into other sauces. But if you'd start with, you know, ranch or you start with ketchup,
Starting point is 00:34:12 you'd get like a huge number of people, barbecue sauce. Like just two, three skews. You could do this. And then with your. marketing prowess, like you could build, you could literally build like a $500 million company for this in like four years. I think it's amazing. Why are you not doing this? I should. The other day I went to the store and I bought ketchup. The other day I went to the store and I bought ketchup and it was it was like a how I didn't realize it was near Halloween and they called it blood tomato.
Starting point is 00:34:37 And I thought that meant like, oh, like it's like some weird category where it's only the tomatoes and no sugar and I bought it. And it was just normal hinds. And I've been eating this shit all week because I don't want to throw it away. And it's horrible. The sugar in Heinz is, it makes it taste good. But it's dog shit. It's a Sam sauce. What do we call in the, what do we call on the brand here?
Starting point is 00:34:57 Fuck. Southern Sam sticky yicky. Yes. Yeah. There we go. Dude. Yes. There we go.
Starting point is 00:35:07 Oh my God. Dude, Southern Sam is such a good brand. I'm not joking. Like, okay, I'm just going to use you as the face of this. I'll build the brand. I'll do all the work maybe.
Starting point is 00:35:16 And actually will launch this. Dude, this is an incredible idea. You like Southern Sam Stickyicky? Like, yeah, if you want to, if you want to pre-buy Southern Sam Sticky Ikey, you need to just, I don't know, DM me on Twitter. My Twitter is Sean Vee, DM me and say, I'm in on Southern Stam sticky-yiki, which is this first sauce that's coming out. And it's going to be a, I mean, you're a fitness influencer. So you got to have that balance. You're going to have the health aspect.
Starting point is 00:35:43 We know that. We've seen the body. We've seen the videos. What we need now is that. flavor. But Southern Sam, he's been, this is what you needed back when you had your hot dog stand. You just needed the condiments. It's a full circle. Oh my God. I love it. Have you heard of Sir Kensington ketchup? Yes. My buddy, our buddy invested in it. Who? Oh, okay, great. It's sold for $140 million. Yeah. And I think it undersold. It sold pretty, you know, sold early on. Yeah. But I think
Starting point is 00:36:19 at that time also like I think selling helped them get into retail in a big way. And, you know, that's one of the good things about selling these companies is like if you can do the branding, you can do the cult online following. You can do the DDC online marketing side. You actually almost want to leave some dry powder for the acquirer. You want to go to the acquire and say, yeah, we're doing amazing. And we have, we don't even know how to do retail. You guys know that, right? You guys know, you got a buddy you play golf with who does Target, who does, uh, like a safeways nationwide on the, you know, you have the, you have the, the guy in the Rocky Mountain region for Whole Foods.
Starting point is 00:36:52 He's your ex-frat buddy. Oh, fantastic. Like, you should just buy this and then, boom, you already have your growth story baked in of how you're going to improve this. And so that actually helps you sell the companies to have that dry powder of what can the acquirer do? They don't want to see a lemon that's just been squeezed all the way,
Starting point is 00:37:10 all the juices out because then it's all priced in. Dude, maybe I'll go to the store, like, rad for this, just go buy a bunch of organic and low-sugar ketchup and see what's out there. Like, I'll be the first to admit the sugar in there makes it taste so good. I mean, I'll just eat ketchup with a spoon. That's just so good. Dude, this is the idea.
Starting point is 00:37:26 Okay. Okay. Okay. I got full sort. Last episode, it was like, uh, what can we do with this marketing budget that will, uh, like, make for a good story beyond just, you know, direct response ads?
Starting point is 00:37:38 This is what we should do with the marketing budget. We should be launching, showing it would do case studies, basically, do a fully open business. Basically, we should show how we would build this business from scratch. And Southern Sam's, Southern Sam's, Southern Sam's, Southern Sam's Secret Sauce is going to be the first place that we start. We take 10 grand. We take 10, 15 grand. And we put that, instead of going and saying, hey, listen to our podcast, we actually just tell
Starting point is 00:38:01 the story of how we're building this on the podcast. And that will make people want it to tune in. They'll see the growth and they'll see the success story, which is ultimately what this podcast is about, brainstorming great ideas and then talking about how you bring, how you would bring them to life. It's definitely interesting. I think it'd be fun. I got to go to the store, though, and buy a bunch of them and see what they're about.
Starting point is 00:38:19 and see if they taste good, but this primal kitchen one seems incredibly interesting. And I would imagine that these, I bet the multiples for selling these, I would imagine they'd be all right, right? They'd be pretty good because the repeat purchase rate on ketchup is crazy high. I'd have to imagine. Yeah, I think you can safely sell for, you know, somewhere between two and four X revenue, depending on what your story is, so how fast you're growing, how big that market is, you know, et cetera, et cetera.
Starting point is 00:38:47 but I think to even up to five times revenue is possible for a brand like this. But I'm only going off a couple of data points. Maybe those were outliers that I know about. I'm not sure. Yeah, I got, I'll go do some research. I'm going to figure out. I'm going to,
Starting point is 00:39:00 I'm going after the big ketchup. Yeah, exactly. We're going after big red. Big red. We're going after big sugar. I also think maybe maybe a gum line. How about gum?
Starting point is 00:39:14 You like gum? Yeah, but most gum is sugar. sugar-free. You know what's like the best sugar-free gum is better than sugar-free. We have to go to the next level. We have to be like xylitol-free. Dude, Trident. You remember Trident? You remember how Trident? Is like dentist recommended? That's been sugar-free. Yeah. Well, we are- and all the who are recommended. We're Southern recommended. Choose gum. If anything, you're
Starting point is 00:39:38 going to do gum with caffeine in it. There's this guy named, there's this guy named Nick Simmons. He's got this business called Run Gum and it's gum with caffeine in it. What's the company Lucy doing? Isn't that what that is? Yeah, so I invested in a nicotine gum company. I think it's only doing okay. Gotcha. I love nicotine, though.
Starting point is 00:39:57 I, here, let me show you what I have in my pocket right now. Can you see this? I see, it's a little fuzzy, but I see like a vial of some kind. What is that? It's nicotine lozenges. It's like a cough drop. You just put it in your lip and you just kind of suck on it. I love nicotine, man.
Starting point is 00:40:18 Is that the same thing as a pouch? is a loss of the same thing as a pouch? No, there's no tobacco. There's no tobacco. It's literally just like a mint. It's like a mint that has nicotine. That does what? Why do you do that?
Starting point is 00:40:29 To stop to quit smoking or to give you a buzz? Yeah, so like I like cigars. And so if I could, I would smoke cigars all day. And so now I can go like two, three weeks without a cigar. And I just like sucking on these things. I feel like nicotine does have a lot of interesting advantages. And I don't know if nicotine is inherently bad for you in itself. I know that the tobacco is.
Starting point is 00:40:51 So I bumped into this guy on Twitter and go to, go to its Oklahoma or just Google Oklahoma Smokes. Have you heard of this brand? No, but I love it. So Oklahoma Smokes, almost like a sister brand to Southern Sam, sticky-y-hicky, but Oklahoma. So this guy was like, oh, yeah, I have this like agency and we were doing kind of like branding for other products. And then we launched our own product, Oklahoma Smokes. and it's basically, it's an alternative thing you could smoke. It's like an alternative cigarette and it's got no nicotine and no tobacco, but it's got
Starting point is 00:41:27 the form factor of a cigarette. So you light it up, you smoke it, you puff it out, whatever. And it's doing really well. So he's got like a good amount of traction. And I was like, wow, that's great. Like, you know, what's. And so I looked him up in the kind of like ad library. And I was like, dude, I don't see any ads.
Starting point is 00:41:42 He goes, oh, yeah, you can't advertise for this on Facebook or like pretty much any ad network because they don't want you advertising cigarettes, even though this is like a nicotine-free tobacco-free. And he's like, so it's all just organic. Like TikTok, basically people just post about it on TikTok. And it goes like kind of viral on TikTok. And that's where all the growth comes from. It's just people organically talking about it on TikTok. And I was like, wow, that's a slick website. The website is very nice. The branding is great. The whole thing is really well done. And I like it a lot. So, you know, maybe we, Oklahoma smokes. Maybe we work with their agency for our, for our brand. All right. We got. Who are they use. It's all coming together. They are the agency.
Starting point is 00:42:24 That's what they were doing. Are they based in Oklahoma? No, I think it's just a brand. Like the dude was like just like some Indian dude. Although I'm an Indian dude. I was born in Oklahoma. So I guess, I guess maybe they do have some Oklahoma roots. I'm not sure. But I think it's a lot more like. What do they live? Isn't this just like, isn't that an amazing brand name? Oklahoma smokes. It's amazing. Oklahoma smokes. It sounds like a band. I want to wear an Oklahoma shit.
Starting point is 00:42:46 Everything I want to be a part of. Yes. Oklahoma smokes. Oh, that's phenomenal. That's a brilliant name. Right. Like, if that was my nickname, I'd be a happy man.
Starting point is 00:42:57 And they're doing, here's their, dude, look at this company. They're doing no Nick November. So no nicotine November. And they're giving it discounts. No sauce September, baby.
Starting point is 00:43:07 No sauce. This is good. I like these guys. Where do they live? Do you know? I have no idea. I don't even know if he wanted me to shout it out. He probably is happy with it.
Starting point is 00:43:17 But I've never tried it. I don't smoke. So it's like not a product I would use. I just thought the branding was extremely well done. And so I kind of added it to my swipe file of like, oh, this is a great name and a great brand here. And really cool product idea. Challenging, you know, it's doing well, but it's not huge because very hard to grow,
Starting point is 00:43:36 very hard to market something like this through traditional channel. So I don't know what they're going to do. You know, hopefully this gives them a little spike or whatever. whatever, but, you know, I think that's the hard part about a business like that. Do you want to do one more? Yeah, let's do one more. Do you have one or you want me to pick one here? You.
Starting point is 00:43:54 We didn't do our news thing. I kind of hijacked the long ass Chris Harrison. Scott Harrison's story. Pick one of the two. Let's do the Zillow thing. So the funny story about this Zillow thing. So Zillow came out and they said, hey, we are shutting down our I buyer business, which is basically where they would just,
Starting point is 00:44:13 you want to sell your home, boom, we'll give you an instant offer. Our algorithm will do a calculation and spit out a price. You don't have to go through a broker. You don't have to stage your house. You don't have to do like three months of showings. Like, we'll just give you an offer today. You can sell your home today. And the idea was, this was sort of an idea they stole from Open Door.
Starting point is 00:44:30 So Open Door was a startup that was built to do just exactly this, instantaneous, like instant sales of houses. And Zillow saw Open Door growing and value and now Open Door's public. and they created a couple years ago their own in-house competitor they copied that feature. But it didn't work. So they got stuck. They just came out and announced, hey,
Starting point is 00:44:52 we lost $500 million this quarter. Oops. We're going to lay off 25% of our staff. And we have 7,000 homes that we need to unload because we're getting out of this business. And they're getting $2.8 billion. They're getting out of it because they
Starting point is 00:45:08 also are getting criticized constantly because Zillow is what everyone uses to get comps for homes. And if the person also buys them, you can easily manipulate the price of things. So if you, they can buy a home in one neighborhood knowing that it's going to increase the,
Starting point is 00:45:24 a lot of different things. And it's competitive with their core business. So they're, which I give them credit for because most companies, they wouldn't do it for all these reasons we're mentioning right now. They would just stay out and they would get disrupted. Zillow tried to not get disrupted to try to add this feature. But like their core business is basically,
Starting point is 00:45:41 selling to agents, right? For consumers, they give you price information and you're supposed to be a trusted source. So that's one challenge. The other conflict was the main business is agents buying leads from from Zillow. And if Zillow is the buyer, then they don't need the agents. They are their own agent. And so they were competing with themselves in many ways. So anyways, they're getting out of this business, you know, big kind of, what do you call it, like a scar from like, you know, a bruise from going after this. Their stock prices. is just in the shitter, which is ironic because we're in this group chat. We're for months, like last year, basically these guys have been, our friends have been like
Starting point is 00:46:18 pimping out. Oh, dude, Zillow. Zillow's a great buy. Yeah. And I went and bought $25,000 worth. Exactly. Same. I bought it like, I don't know, like 50 or $100,000 worth of it. And I'm down big. Everybody, everybody in the group is down big or something. Yeah, we're all down like somewhere between 30 and 40% or something on this. And I agreed with it. I thought, I think Zillow is the greatest thing ever because to me, like what do you do when you're in a fancy neighborhood, even if you're not buying a home, you just go on a Zillow. You know, it's a category owner. They own it.
Starting point is 00:46:44 Right. Yeah. So, you know, Zillow, the stock is down big right now. The funny thing is Open Door stock also took a beating. So they're down like 12% just on the news that Zillow failed at this. People are like, oh, maybe Open Door is also going to fail at this. And then they came out with this God awful. Did you see this tweet that they did that Open Door did?
Starting point is 00:47:04 It's the worst. It's the absolute tone deaf idiot. Just, you know what the best thing to do is to make fun of them. So listen, you know what, do you remember what Biden did when he was running for president? Which part? He shut the fuck up. Because when you have a guy like Trump who does all the talking and like is his own worst enemy, you shut up. You hide and you don't say a word.
Starting point is 00:47:29 That's what open doors should have done. They should have locked themselves in the basement and said, everyone is forgetting to mention us, even though we do this exact same thing. You just shut up. and that's what they should have done. Yeah, or they should have come out cocky. They should have come out and posted a chart of how much ass they were kicking and just be like, you know, this is, you know, this does,
Starting point is 00:47:52 this is a hard business or it's not for everybody. And then just post their chart of themselves kicking ass at the same time Zillow is dying on the same business. But instead, I'm going to read this word for word. You tell me if you understand 1% of this. Open Door just randomly tweets yesterday. We're in the midst. First of all, don't say midst.
Starting point is 00:48:08 We're in the midst of a generational shift towards a fully digital experience, comma, with large, comma, unmet need for seamless experience in real estate, period. What a circle jerk says? Nothing. Then they reply to their own tweet. With our track record of executional excellence and many years of investment and consumer experience,
Starting point is 00:48:24 technology, pricing, technology, comma, pricing, comma, and operations, comma, we are well-hifened positioned to meet consumer demand with a best, comma, in-class product and service. open door is open for business. We have demonstrated strong growth, unit economics,
Starting point is 00:48:41 we are energized to help homeowners nationwide with simplicity, certainty, and speed. I saw this and I was like, what the fuck? The funny part, the ironic part is, this is done by somebody who's like, their comms, their job is comms, corporate comms,
Starting point is 00:48:53 they're a communication professional. This is their actual job. You want to know, they forgot the number one most important rule about copyrighting. You know what that number one rule is? No one cares about you. They only care about themselves.
Starting point is 00:49:07 Exactly. That's the number one rule. If you remember that, you're going to be, you're going to be 90% of the way there. No one cares about you. They only care about themselves. It's like when you go to a website and they go, we've been in business since 1994. Our pure, our passion is to serve you, our dear customers. We've been serving customers for a long time and we know that we're going to have a lot of high integrity when we handle you. It's like, I don't care. No one cares. No one cares. Yeah, exactly. They violated all the rules. So what's another rule? don't use words like that yeah exactly you talk like you speak right like you speak uh right right as right like you speak and then um use like you know eighth grade reading level you know this is like you know 20th grade reading level and it said none of it none of it makes sense to the average person uh they also didn't say anything of interest like what do this mean this all this meant was please don't sell our stock please don't sell our stock please please please please please please please don't sell our stock we we didn't make the mistake they did and there was so many better ways to do this so that was, I thought,
Starting point is 00:50:04 so I think there's this idea. So like when I was running the show basically at the hustle, my staff would be like, we need to change the landing page or we need to change the footer. And I'm like, well, why? And they go, well, because it's been the same forever. And my analogy was always, yeah, but you're thinking about it this kind of poorly.
Starting point is 00:50:27 For example, our office was on a corner and there was a billboard right there. And I would say, how many people do you think are going to see that billboard for many, many times in a row? And they would say, well, most people are probably just passing by. And I go, yeah, I would agree with that. Now, of course, you and I, we've been sitting here for a month now, and we see that same billboard every single day.
Starting point is 00:50:48 So we're kind of sick of it. But nine out of ten people are just passing by and they're seeing it for the first time every time. What you need to remember is that most people are not just sitting there. They're just a parade walking by. And that's what like open door kind of like realized they're like, oh, well, yeah, most people. people like so they're probably in the thick of this and they're seeing zillow flip out and they're like everyone is everyone's talking about this everyone's thinking about us it's like no no no no no no
Starting point is 00:51:13 you are but most people don't give us just shut up just be quiet hide now's the time to hide yeah so yeah i saw that and our friend did something pretty funny yeah so moise mois ali he he tweeted out and i love this tweet by the way this is just a he's very, he's a very good writer. A great cocky tweet. So he goes, Dear Zillow and Rich Barton, the CEO Zillow,
Starting point is 00:51:38 who by the way is badass. I'm sure today is a tough day. I'd like to purchase all the homes you have on your balance sheet in one transaction. Is that something you'd consider? I will pay cash in closing than 30 days. No contingencies are financing delays. Best comma M.
Starting point is 00:51:55 Signing off with the initial is the power move, by the way. I will never, ever write my full name again. because the initial is so good and this is great obviously he's not going to buy $2.8 billion worth of stuff himself but maybe
Starting point is 00:52:11 maybe he's got some strategy here maybe he's got some money he could tap into I'm not sure but yeah also just like hilarious tweet and a way to be out there on Twitter and ride the wave of something happening yeah I thought this tweet was brilliant he's a troll and I love when he trolls
Starting point is 00:52:29 because he trolls in a very smart way Yeah, he's a cocky troll. And, you know, the, the weird thing is how did they lose money doing this? So, like, from what I can tell, the, like, single family homes, which is what they were buying, single family home market is like at an all-time high. Like, people from COVID are, you know, there was the great reassessment, which is what happened during COVID. Everybody reassessed their job.
Starting point is 00:52:51 They're, you know, can I work from home? Oh, wow. I didn't need to travel for business. I could just do a Zoom meeting and actually it works. Do I need a gym membership? I could work out at home. I could. Do I like this job?
Starting point is 00:53:00 or actually maybe now that I have this break, I can think about what I really want to do. And I pick up this hobby. And, you know, maybe when I'm at home when this marriage, this marriage sucks, you know, maybe I should reassess that. There was the great reassessment. And during that, a lot of people move. They move for different reasons. If your job is remote, you could leave high-priced places like California and New York.
Starting point is 00:53:20 You could relocate to other places. If you're at home all the time, maybe you need more space and you want to buy a bigger, bigger place with a bigger yard and bigger office space or whatever. So people were buying more than ever and they were buying single family homes. So people were leaving the cities. And so condos were down inside San Francisco and New York like 15%. And single family homes were up 15, 20%. So I don't fully understand.
Starting point is 00:53:44 And I'm sure there's a totally logical explanation. But, you know, it's like, how did you lose money doing the one thing that everybody wanted? You were buying and selling single family homes. And I think what they said was, you know, the price was too unpredictable. So we, you know, we weren't able to do this well. And the other thing they said was there's a labor shortage. They couldn't get people to come flip the home. So like do the repairs you needed to flip the homes.
Starting point is 00:54:07 So yeah, I'm sure like that's really hard. But that's crazy they weren't able to do it in like a bull market. Yeah, I think it's nuts. It doesn't make me like them anymore. And I, and I'm a shareholder. I'm bummed. I guess I guess they should have just stuck to what they did. You can hold your stock or are you going to sell?
Starting point is 00:54:23 I don't sell. So yeah, I'm going to hold. Okay, cool. Me too. All right, anything else we wanted to do, or we can wrap it up here. We'll wrap it up here. Don't forget to go to, what was the URL? Rate thispodcast.com slash MFM as in my first million.
Starting point is 00:54:41 So rate this podcast. Go leave us a review if you get enjoyment of the show. That's kind of all we ask. Helps us move up the charts. Helps us get more downloads. And then we're going to. I think we're going to do one more thing. I believe what we're going to do, I'll kind of like, I'll say briefly.
Starting point is 00:54:56 I think we want to do something where you get, we're going to have a budget of like up to 20 grand a month. And the people who create clips for us, Sean, and get the most views will give them a little bit of money. Ah, okay. I like it. Yeah,
Starting point is 00:55:10 Ben or Jonathan came up with that. Okay, I like it. Yeah. Paid to listen. So it's a good deal. Well, you get paid to chop up clips and be creative. So kind of a good idea. All right.
Starting point is 00:55:22 All right. That's the pod.

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