My First Million - The Guy Mafia, Agency Affiliates, Mini Katanas, and More
Episode Date: January 5, 2023Episode 404: Sam Parr (@TheSamParr) and Shaan Puri (@ShaanVP) binge on business ideas in this episode. They discuss becoming the next member of the Twitter Guy Mafia to going through Anand Sanwal's tr...easure trove of ideas - the good and the bad, plus much more. Want to see more MFM? Subscribe to the MFM YouTube channel here. ----- Links: * Anand Sanwal * Yardstiq * Guy Dealership * Luxury Watch Guy * Franchise Wolf * Mobile Home Park Guy * Mini Katana * Isaac of Mini Katana Store * 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: (03:10) - Anand Sandwall, CB Insights, and Yardstiq (10:45) - Anand Sandwall business idea list (20:35) - IDEA ALERT: The Guy Mafia & Car Dealership Guy (35:30) - Agency affiliates (37:35) - MFM Back Office (40:55) - The Katana Story (50:40) - The application for Sam's researcher ----- Past guests on My First Million include Rob Dyrdek, Hasan Minhaj, Balaji Srinivasan, Jake Paul, Dr. Andrew Huberman, Gary Vee, Lance Armstrong, Sophia Amoruso, Ariel Helwani, Ramit Sethi, Stanley Druckenmiller, Peter Diamandis, Dharmesh Shah, Brian Halligan, Marc Lore, Jason Calacanis, Andrew Wilkinson, Julian Shapiro, Kat Cole, Codie Sanchez, Nader Al-Naji, Steph Smith, Trung Phan, Nick Huber, Anthony Pompliano, Ben Askren, Ramon Van Meer, Brianne Kimmel, Andrew Gazdecki, Scott Belsky, Moiz Ali, Dan Held, Elaine Zelby, Michael Saylor, Ryan Begelman, Jack Butcher, Reed Duchscher, Tai Lopez, Harley Finkelstein, Alexa von Tobel, Noah Kagan, Nick Bare, Greg Isenberg, James Altucher, Randy Hetrick and more. ----- Additional episodes you might enjoy: • #224 Rob Dyrdek - How Tracking Every Second of His Life Took Rob Drydek from 0 to $405M in Exits • #209 Gary Vaynerchuk - Why NFTS Are the Future • #178 Balaji Srinivasan - Balaji on How to Fix the Media, Cloud Cities & Crypto * #169 - How One Man Started 5, Billion Dollar Companies, Dan Gilbert's Empire, & Talking With Warren Buffett • #218 - Why You Should Take a Think Week Like Bill Gates • Dave Portnoy vs The World, Extreme Body Monitoring, The Future of Apparel Retail, "How Much is Anthony Pompliano Worth?", and More • How Mr Beast Got 100M Views in Less Than 4 Days, The $25M Chrome Extension, and More
Transcript
Discussion (0)
Okay, next one.
Hosted buyer meetings on a plane.
B2B decision makers get a free vacation if they agree to have X number of conversations on a flight.
It's like the timeshare idea.
It's like, so you get a free flight, but you're going to get out of plane full of vendors.
It's like that movie snakes on a plane.
It says snakes.
It's just B2B software vendors just waiting to just barrage you for the next seven hours on your way to Maui.
So here's, I'm going to tell you about something that's interesting.
There's a guy who I love, and his name's Anon.
He started CB Insights.
Do you know him?
Yeah.
Listen to the pod.
Love the guy.
Yeah, he's a great guy.
He's one of my good friends.
And I was thinking about this.
So there's a lot of things that second time or third time entrepreneurs think about
that mostly first time entrepreneurs don't think about.
One of them being distribution.
So they'll think, like, oh, I'm just going to make a cool product and it'll somehow get
into people's hands.
That's false.
You've got to have marketing baked in or like, it's got to be part of like,
the ideation phase marketing. The second thing is pricing. They think, oh, I'll just charge five
dollars a month and I'll get like millions of people to buy this. And then you actually start doing
and you're like, wow, this is incredibly challenging to get thousands or tens of thousands,
let alone millions of people to buy something. That's really hard. And so I've been thinking about
that pricing thing. So things that fit my wants and my needs and my skill sets. So for example,
content, there's industry dive, which probably only has five or 10 million people a month
reading their website. But they make shit for like people who own grocery stores, like,
content for people who own grocery stores versus BuzzFeed, which makes stuff for stay-at-home moms who
like cat videos. BuzzFeed worth $100 million. Industry drive does the exact same thing. Way smaller
audience makes or sold recently for $500 or $600 million. So like I've been thinking about like
those that price is like that that different ways of packaging. And so Anon from CB Insights,
he's got this company that's brand new. It's only 90 days old. It's been way low key and under the
under wraps. And I recently discovered it and I asked him. So it's called yardstick. So go to yardstick.
and tell me what you see.
It's called Yardstick.
So it's the word yard, like a backyard,
and then stick is S-T-I-Q.
He's getting a little cute on us.
Let's see.
Okay, so Yard Stick, powered by CV Insights.
Learn what software buyers really think about their vendors.
Great title, great headline.
Yeah, right.
And then it says,
access thousands of analysts-led conversations
with software buyers
to quickly understand pricing,
competition, evaluation, criteria,
and satisfaction.
So basically, they interviewed,
software buyers and they get the scoop on how do you really feel about X tool and then they summarize
it so that you can you can see how other people think about this tool before you buy it.
Exactly. That's it. And they charge like something like 30 or 40. They charge, yeah,
it's really smart. And I'll explain how this works. But they charge like 30 or 40,000
a year for this. And I think this could be a hundred million dollar year business. And they're just,
I'm downplaying. But right now the MVP is just interviewing people and showing transcripts.
Eventually, I'm sure they're going to have.
This is really smart.
I remember you talked about this back in the day because there's that website, what is it, G2
crowd.
Yes, exactly.
And there's basically like software is a massive category.
And people are like, oh, which CRM should I use?
And it's like, oh, you know, it's HubSpot fighting with 10 other people to try to be
the answer to that question.
And so reviews is always this thing that people are trying to like, I think people in
general want the idea of a review, but it's hard to trust reviews nowadays.
You don't know if the reviews are faked.
you don't know if they're from people like you who have the same problems as you.
And the website like G2 Crowd and these other ones, they're pretty bad.
And I've seen several people try to create a new software review site to compete with them.
And they have to do two things.
One, they have to actually be better at the reviews.
And two, they have to rank higher in SEO for when somebody searches for, you know, whatever, X tool alternative or what's the best sales tool for me to use.
and it's really hard to beat their SEO.
And so they're fighting a very uphill battle.
This, I think, is smart for two reasons.
One, they already have a bunch of customers that they could just sell this, sell into with this.
Two, the idea of instead of saying, okay, well, whoever reviews it, hopefully they're good reviews,
they're like, no, we're just going to hire people to do these conversations.
And like the math works out.
If we get these brands to say what they think about these tools, you know, we might only need to invest,
I don't know, $200,000 into the collection of that data.
And that gives us like a better review, a better content system.
And you've nailed everything.
And there's a third thing, though, which is basically G2 or software reviews.com or a lot of
these websites, the way they typically work is they give an affiliate fee or some type of
advertisement fee.
They collect that from the brand who wants to advertise on the website, which means they
have to go and get traffic.
and they've got to convince these brands to give money,
whereas this business, yardstick,
it does exactly what I said before.
It changes the way they package it.
And so they just go, no, you're the customer.
You're going to read this and you're going to get value from this.
You're giving us $30,000 a year.
And so we're just going to make shit for you.
And it's just, that's our exchange.
And so that's what we're going to do.
And so basically the background behind this business is,
this is something that I didn't know about until recently,
and probably you didn't either because we both had small companies.
And so a small company in this definition is anything that's below a billion
in market cap or value.
Meaning, typically the people who buy this shit have 500 employees.
And the reason that's important is when you buy a software provider or you buy a CRM
or you buy like some type of, what's it called where you like your customer, like you
give customer feedback or you like interact with your customers and your customer service
agents use it.
Doing business.
I don't know.
Customer happiness.
I don't.
You know, whatever like the software is like a Zen desk or something like that.
So, but like picking the wrong software.
if you are a 500-person company, it will cost you, like, so much money. And so you have to do
actually a fair amount of research, including, like, who invested in this company. So I know
they're not even going to go out of business. And I never even a million years thought about that.
I'm like, dude, I'm just going to Google, like, what's better at gusto or Zenefits?
And like, we'll just pick one and then we'll switch if it sucks. And so what Yardstick is doing
is they actually have just, it's an non and seven other employees are the early people starting
this company. And they basically just ask like seven questions to people who have bought software
in the last two years, and they say, like, who else did you consider?
Who'd you pick? What price did you pay? Would you renew? What's your customer satisfaction?
And then the people who purchase this yardstick product are either investment bankers.
So people who are making investment decisions from the public markets or private markets,
and they want to know what the customer satisfaction is, or people who are going out and buying
software and they could see these other reviews. And it's just like a really interesting business
because there's a company's like GLG. You know GLG?
It's like you get paid two grand an hour.
I've done some GLG calls back in the day.
Yeah, you get paid two grand an hour to answer questions, but that's one to one.
And so what they're saying is like, no, we're not going to do one to one, but we'll just
make it so you can just read like dozens and dozens of interviews.
So anyway, interesting company for all everything I said.
But secondly, it's an interesting company because this business is only 90 days old.
And I think if you go and sign up for their email list now, it's kind of like you can watch
like a big business being built in real time.
Yeah, this is really good.
Like I'm jealous.
I didn't think of this idea.
I kind of wish he had just done this outside of CB Insights.
I feel like this could have been his next hit.
I think it's going to be as big as CB Insights.
So I think there's a slight, you know, although it's good to be able to sell into those same customers,
I think it would have been worth it to, you know, spin this out.
But, you know, that's a more complicated decision.
By the way, this guy Anon, he has a giant list of startup ideas.
Have you seen this?
No, where?
I'm trying to find the list.
I remember seeing it on Twitter one day, but...
Here, well, look for a second.
The background behind Anon is he started CB Insights.
They're close to $100 million in revenue.
He's kind of a shithead in a really good way.
For example, he signs...
He writes their daily newsletter, and he signs the newsletter with, I love you.
Or in his Twitter profile, it says, please sign up for CB Insights.
I owe people money.
And he is kind of like a cheeky, like mischievous guy.
and very, very likable, and that's, and his content's amazing.
And so that's, Anon's really interesting.
If you, if you want to know what speaks to our heart, you got to be somebody who's trying
to do something.
So you got to be ambitious or successful in some way.
And the second thing is a little bit of a shithead.
So, you know, like, have that, I don't like to eat my wings without sauce.
You got to have a little dipping sauce to your personality if you're going to get me
on board.
And he's got the sauce.
All right. So let me tell you some of these ideas. So I don't have the full list. I remember seeing this like a year ago or something like that. We should get them on the pod. But let me just read a couple of the ideas that were tweeted out from this list. Okay. So first one, tough mutter for kids. So here's what he says. Really any sort of manufactured adversity for semi-affluent or affluent kids. Parents talk about wanting their kids to have perspective, resilience and reduce their entitlement and get them off screens. Tough mother for kids. Super high margin.
sure if, you know, unsure exactly how it work, but money to be made for sure.
Okay?
Dude, Spartan races now, Spartan races, I'm signing up for one.
They actually have a kid's version right now.
Tiny Spartans.
I don't know if his house is called, but, you know, we can pretend.
That's a good name.
Startup idea.
Duolingo for teaching finance or accounting.
Teach the principles of accounting or finance via a gamified duolingo style app.
What do you give that one?
Yeah, that's cool.
Okay.
Next one.
Hosted buyer meetings on a plane.
B2B decision makers get a free vacation if they agree to have X number of conversations on a flight.
It's like the timeshare idea.
It's like, so you get a free flight, but you're going to get on a plane full of vendors.
It's like that movie, snakes on a plane.
It's those snakes.
It's just B2B software vendors just wait to just barrage you for the next seven hours on your way to Maui.
And just tons of Coke and just everything that like a 45-year-old guy named Todd who wears tight blue jeans and
brown shoes, whatever they need to like.
Yeah.
This is Jennifer.
She wants you to call her Jenny and she happens to like you.
Yeah.
I think it's actually, uh, I think you actually could build a business that way.
If you sign up for a free trial, you get to go to first class, that'd be great.
Yeah, this is actually a kind of a genius idea.
Okay, here we go.
Buiable Google Doc travel itineries.
So friends often share their travel plans via Google Docs.
You know, here's what I did in Iceland.
Since their friends, I chest their judgment.
Um, you know, the idea would be, let me just buy the whole itinerary with the buy now button.
My vacation plan is done.
Awesome.
Big reaction.
Yeah.
Um, that's a small business, but cool.
When lost reporting for employee hiring and attrition.
So when somebody doesn't accept your job offer, the service would dig in and find out the real
reasons why.
When somebody leaves the service digs in and finds the real reason why.
It would maybe anonymize or synthesize the insights over time.
Today, the process is very ad hoc.
that's a great idea.
That is a really good idea.
Wow, that's a solid one.
Okay.
Here's a not so solid one, but more fun.
The Nike of baby diapers.
So create high performance premium diapers,
use sodium polyacrylate to make them super absorbent
like astronaut diapers.
Other tech to increase comfort make cleanup easier.
Why?
Because parents spend a stupid amount of money on their kids.
Okay.
Dude, anytime you say it's a Nike of something,
It's like when I see a restaurant in the side of road that says world's greatest coffee or like the best pying town, I automatically buy it.
That's my rule.
If it says it's the world's greatest, if you're just bold enough to think that, I'm going to try it.
I bet.
Dude, I had the same realization yesterday where I was listening to some talk where Johnny Ive was talking.
And I knew somebody who met Johnny Ive, like, used to hang out with Johnny Ive regularly.
They like live near each other in San Francisco.
And I was like, oh, what's Johnny I've like?
for those who don't know, he's basically the head designer at Apple for like all the great products, iPod, you know, whatever, Macintosh, you know, iPhone, all that good stuff. So this guy's like basically the greatest product designer in the world. He's the guy Steve Jobs trusted the most at Apple. I was like, what's he like, oh, you know, he's kind of like you would expect. He's like, you know, he's got a sort of a dry but, but funny personality. He's a pretty focused individual. Like he's not like effing around a whole lot. You know, he works really hard. And, um, he's, he's got a sort of a drive, but, but funny personality. He's a, he's a pretty focused individual. Like, he's not like effing around a whole lot. Um, you know, he works really hard. And, um, um, um, um, um, um,
They'd be like, yeah, they'd come to me.
They'd be like, yeah, Johnny had an idea.
I was like, oh, my God, what's this Johnny?
I had an idea.
Now, I don't remember the specifics.
This was like eight years ago or so.
But they just said that for every idea.
But it'd be like a closet that's beautifully designed.
What does I mean?
And then I realized I started using this.
I'd be like, you know what you guys should do?
Like, I was giving somebody advice the other day.
I was like, you know, when you guys is an e-com brand, I was like, when you send your package,
you should put in there just like beautiful pamphlet, just like super well done.
that just will make somebody
they'll read it,
they'll know your story,
but just a beautiful pamphlet.
And I realized,
I was like,
wow,
if you just say like,
a beautiful thing,
a beautiful and then just like generic thing
and say just super well done,
the idea goes from like a whatever idea
to like,
that's a great idea.
Yeah,
I could see that.
It's like when,
honestly,
it's not totally BS.
There is something to it.
If you said like,
you know,
let's just make like a really,
like just a hilarious,
YouTube video.
It's like, actually, that is the correct strategy.
You know, but there's not much more to it.
It's just a question of, can you do something that's actually beautiful or really well done or really funny?
But honestly, that's not a bad business plan for most things to just say, just a beautifully done.
Just all the details, nailed.
It's like when Andrew Wilkinson, Andrew Wilkinson says, we try to buy wonderful companies.
Right.
And like our beautiful businesses, we want to buy beautiful businesses.
It buys like a job board.
Yeah, I'm like, wonderful.
You're right.
That is, it's wonderful.
He's like, okay, we're going to bake this cookie,
but it's just going to melt in your mouth.
And you're like, okay, all right, all right, I'm in.
It's like, you know, otherwise it's just a cookie.
And so I think there's something to this.
But all right, I'm going to keep going.
By the way, I feel like I'm reading this guy's diary and just, you know,
I feel wrong just taking all these startup ideas here.
So rapid fire, this can be like 12 episodes of content for us,
but I'm going to kind of burn through it.
Let's just steal it.
it. Well, I know, but I'm like, I want to just use them all now. I want to binge eat this whole
like tub of ice cream right here. Let me give you a couple more. Happy cam. A highlight reel of the
best moments of your life. How? A wearable camera that records audio and video only when you're
laughing. If you have some conversation of who you're with and great moments. All right.
Fictitious. Even the great ones that get a miss once in a while.
Yeah. Just to show a little balance here.
Okay, how about
Let me pull up another one
Okay, how about this?
He also wrote bad startup ideas, I think.
So bad but sexy.
So startup ideas that suck you in,
but they're actually bad startup ideas.
Here we go.
Yeah. Personal CRM.
Always a bad one.
Preach into the choir.
Yeah.
Curated news recommendations.
Well,
In most cases, it's bad.
But hey, look, that's what you be in awesome brief.
We got to get that one.
It's something going to be like a college campus like Craigslist and then like laundry on like delivery laundry.
Here's one.
What are my friends up to right now apps?
These apps I promise you, hey, what if your friend was two blocks away?
You didn't know.
This app you could have met up with them.
No, wrong.
Dude, by the way, did you know that girls share their location on their iPhone with
other girls. Like my wife does this with her friends. Do you know people do that? For like safety purposes?
I don't know why they do that. But like I was out with like my wife and a bunch of her friends and they all
did the same thing with themselves like that group of friends and other people. Like they know where their
real time location is at all times. Hold on. Honey, why you go into the car? My friends go into the restroom but
she wanted somebody to go with her. I'm driving to meet up with her. Dude, it's crazy. I don't even know
how to use that feature. I don't even know where the feature is on a phone. I don't know. You click
a thing and it says like share location for an hour or share indefinitely. Yeah, it seems like a trap.
Yeah, you're not going to happen. To-do list software. Yep, that's one, a classic startup idea
that everybody does. Glass door for VCs, a website that rates VCs. Nobody really cares very much
about VCs. They're infrequent decisions for most entrepreneurs. They'll take money from who they can get.
Yeah. In most cases. Founders are lucky enough to have a good choice. They probably already know who's good.
Okay, so those are some of his bad startup ideas. But he's got a bunch here. I'm
I'm not going to. We should have a month.
Yeah.
The guy's interesting.
He's pretty funny.
He's earned his spot for sure.
I forgot to remind you these last few times, you being the listener, about our gentleman's
agreement.
So like, have you ever, yes, there's, like, have you ever gone to 7-Eleven and you've
seen like an Alzheimer's or like a sick children's, like, bowl and you like leave a quarter
and you take a piece of candy?
Right.
So that, that whole thing works.
And they use this thing called an honor system, a gentleman's agreement where you put
down a quarter and you take a piece of candy.
And it's just, it just, it just.
works. That's kind of what our podcast is like a little bit with subscribing to our YouTube channel.
So Sean and I spend all this time. We talk about stuff constantly about what we're going to do on the pod.
I live an epic life, actually, just so I can talk about it on the pod. I dedicate my life to this.
And all I want in exchange is not even a quarter. It's just for you to click subscribe on YouTube.
So if you're listening to this on iTunes or Spotify, whatever, just go to your YouTube and just click
subscribe. That's all we want, because that helps the algorithm. We get a little bit higher. And then it helps our ego.
I mean, that's really all.
But today, if you're making the choice
between Alzheimer's, children, and us,
make the right choice.
Choose us.
Yeah, and it's free.
It's crazy.
60% of our YouTube views
come from people who don't subscribe.
And all I can ask them is,
are you not entertained?
Do you not want more of this?
Click subscribe.
All right.
So that's that.
Gentleman's agreement,
reinforced.
And everyone's been doing it lately.
So if you don't do it,
you'll look silly.
So I think you should do it.
All right.
Okay.
I want to talk about a different little trend
that I've seen on Twitter.
And I call this the guy mafia.
I saw that line.
I thought that was really funny.
I mean,
I would have called the guy mafia,
just the mafia,
but the guy mafia.
Well,
what am I calling the guy mafia?
You've probably seen this trend.
Like,
I feel like it's kind of new,
but it's basically a whole bunch of Twitter accounts
that are branded like car dealership guy,
mobile home park guy,
strip mall guy, self-storage guy, right?
There's like, and they're basically just saying it's an anonymous account,
so you don't know who's behind it.
The promise is basically, hey, I'm in, I've been in this, this space for a while.
I got, you know, I've been doing this for 10, 20 years.
I will share insights, but also kind of like industry secrets about the way our industry works,
the, you know, the dirty laundry.
And these accounts are blowing up.
They get really big, blowing up.
really fast. I just bought a car from car dealership guy. Did you really? I know who this guy is.
I just, yeah, I just dropped. Dude, I almost bought a car from him too. I almost bought a car from
him too. Tell people who he is. Well, I don't want to say his identity. He did, he didn't actually
tell me his identity. I know who he is too. So he's car dealership guy on Twitter. He basically,
he's always just tweeting out about like, you know, insights into the car market, right? Which I like
following, right? Because I want to know about the car market without doing any work. So here's one that he just
He tweeted. He said,
The market is literally flooded with Buicks.
They're rotting on car lots like trash.
You could score a deal on these if you're willing to suffer the embarrassment of being seen in one.
Buicks are at a hundred two.
Beowicks are at a hundred twenty one day supply.
For context, Toyota is less than 30 day supply.
Ridiculous.
The simple people terms.
Day supply means the number of days it would take to deplete the current new car inventory
at the current rate of sales.
And so immediately I went, let's go look at a Buick.
Yeah, these guys are.
very influential. I'm telling you. I spent a lot of money on a car through this guy that I never saw.
So what he's doing with his like concierge service, which, so okay, let me give you the full idea.
Then, then I'll break it down. But here's, we'll use him as an example. So it creates the car dealership guy. And I don't think he's been at it for very long. So, let me pull up kind of the December 21.
So December 21. So that's one year, basically. He added 93,000 followers in the last 30 days.
Oh my God. He's at $225,000 now.
Literally when we wrote this thing like, you know, two days ago, we did the research for this.
He was at $219.
So like two days he added $6,000.
This guy's blowing up.
And what he's doing is tweeting out insights.
Like, okay, here's what the use car prices are doing.
Here's what the market is.
Here's which models and makes are our hottest right now.
Here's why G wagons are selling for this.
And here's where I think that's going.
Here's what's happening with auto loans.
And here's what that means for the industry.
All that good stuff.
Okay.
So he gets the following because he's tweeting out interesting stuff.
Secondly, he then says, okay, well, what do I do with this?
What do I create a newsletter, paid community?
You know, people are like, the Sam and Sean playbook.
You know, they open up their little like red book and they're like, is this what I want to do?
But actually, he got some good advice from a buddy of mine who said, screw that.
Don't, don't make a newsletter and then try to find ads.
There's sponsors are paid.
He goes, just help people buy cars.
You're building up a load of trust on Twitter.
People will buy cars from you.
In fact, go buy me a car.
buddy is like I want to buy a Toyota Sequoia.
And I think there's like Toyota Sequoia who's telling me he's like some crazy things
where it hasn't been updated in like 15 or 18 years or something like that.
Like the last update was like in 2004 or some shit like that.
And there's like a 100,000 person waiting list for the Toyota Sequoia.
Some like crazy number like that.
And he's like, yeah, but I bet there's got to be one somewhere in the country.
You know what?
I'll buy in any color, any goofy color.
And this guy, because car dealership guy,
is a background as a dealer, he can at least we think access the car dealership, the car dealer network.
So basically they can buy cars.
They have like their own little MLS system, right?
So they can buy cars out of auction and that's how dealers acquire cars and then they can sell those cars at a retail market.
And so what he's doing is he's just buying cars out of the auction, not really applying the retail
markup and just charging a flat fee as a concierge for purchasing the vehicle.
which we talked about before.
We talked about negotiating
a negotiating car price as a service
from a guy who knows the in and outs
of car dealerships
and knows the time of month,
who to talk to,
what to say,
things like that.
This is like that,
but more in depth.
So I told the guy,
I was like,
hey,
I want an escalate.
And he's like,
you wanted to escalate?
I said,
I wanted to escalate.
By the way,
hilarious thing.
I go,
I was like,
you know,
let me just,
I was like,
I'm not going to go test drive
these cars.
So I was like,
let me just go read the reviews
online real quick.
But if you search for reviews, you get these like, it's like, dude, is this just like some SEO optimized website?
So I go, ready.
Let me go to Reddit and see what people are saying.
Let me tell you how people on Reddit feel about car dealerships.
The same way that people in prison feel about pedophiles.
Like, people on Reddit do not like escalates.
They are like, dude, I've never met a non-jerk in an escalade, right?
Yeah, you're going to start smoking cigars.
Drug dealers and desperate housewives.
And then I was like.
Hey guys, category number three, Indian podcasters.
Here we go.
Wait, are you getting the hybrid one or the electric one or something like that?
No, no, no, no.
You got to go full on.
But they have good self.
You know, they have great self-driving technology.
I actually looked at one too.
I didn't do that much research, to be honest with you.
But just got the big one.
So the extended version.
So anyways, my point is a lot of trust.
Anyways, bought a car with this guy.
So, dude, you live in the suburbs of San Francisco and you drive an escalate?
You are warping into something.
I don't know exactly what it is,
but there's definitely a stereotype
that you're fitting it to.
You're like the Tony Soprano of Danville.
I can't believe that.
Let me tell you some of these other guys.
So we have strip mall guy who you know,
he's basically,
I love him.
Little strip malls are like,
I don't know,
I don't know what you would call it.
These little like B-class shopping centers.
There's the franchise wolf.
Franchise Wolf is a guy who talks.
about buying franchises and what franchise is doing.
Oh, crumble cookies exploding like crazy.
Here's what's going on with that franchise.
That's a great, that's a great niche to be in because interested franchise buyers are super,
super valuable.
That's that customer, a lead who's interested in buying a franchise is worth tens of
thousand dollars to these companies.
Secret CFO, another great name.
That's a beautiful name.
I didn't go with the guy, but I like secret CFO.
So I like franchise wolf.
I like secret CFO.
these are great names, great brands.
And I think they work for a couple of reasons.
Wait, what about the watch guy?
I talked to him.
I almost bought a watch from him.
He just will post.
Didn't even know about him.
Yeah, there's a, it's a, it's a watch guy.
It's called, I think just watch guy, actually.
I see a new one like every day right now.
And by the way, this whole tactic is going to get flooded.
It's already getting flooded as people see it.
Now that we're talking about it and breaking it down, everybody who's like, I am a dental
hygienist, dental hygienist.
dental hygienist guy.
There's going to be like just like a ton of these
coming out. But honestly, and they all use cartoons
as their avatar. By the way, I sent you
in the Riverside chat, the luxury watch guy
and he does the exact same thing.
He goes, here's what I'm seeing. This
Rolex retails for 20,000.
It's an eight month wait and so therefore
what we're actually seeing is people are buying it for 35,000.
Or this month,
mostly because of the crypto guys, this particular
model of Rolex is going way
down because they're selling it because they need to afford
rent. And by the way, if anybody wants
to do the NFT guy, you know, for, for crypto, you know, we'll hire you for the billcard.
We'll pay you to build this account if you're good.
So, so basically this is the trend.
Okay, so why do I think this works?
Number one, the value proposition is in the name.
You don't even need to click to the bio.
They're a walking billboard for what value they're going to provide to you, what they're
going to teach you about.
I think that sets them apart from just like, oh, this is Steve, you know, Steve, you know,
Steve Irwin, you know, you don't know that he's the nature guy, right?
Like, you don't know that you have to, there's still a leap of faith.
You have to click in, read the bio, then you get the value.
Then you understand the value.
Here, it's right on top.
Second thing, they promise basically data, insights, and industry secrets.
And people really like industry secrets.
And so you can go viral with some of these, like, here's the dirty little secrets about
buying a used car or buy, go about what happens when you walk into a car dealership.
I sat in these rooms for 30.
years, I know what conversations the seller is having when you walk in like a fish.
And it's like, I got to click this.
I got to read this.
And at the end of it, I'm going to trust them as a niche expert.
So I think those are the two kind of like core reasons that it works.
It's also just a focused feed.
So versus my account, sometimes you're going to hear me talk about sports.
I'm going to crack a joke.
I'm going to complain about my kids.
Sometimes I'm going to tweet tech stuff.
And in reality, people just kind of want you for one of those things at up front.
Up front, a focused feed is going to do better.
So I think that's why these are these are working.
And I think all of these people who do this are going to make at least low millions of dollars.
And a few of them who've really learned how to capitalize on this will make tens of millions of dollars of a business that basically the core of their business is just this Twitter account where they are the, you know, the gas station guy.
Like I saw one yesterday, it was mobile home park guy, tweeted one interesting thing about mobile home.
I insta followed.
I have no real desire to buy a mobile home park,
but I kind of want to know about it, be smarter about it.
And then it turns out the guy DMs, he's, it's my friend.
I'm like, you, you do this?
He's like, yeah.
I don't see, what the hell's going on here?
And so, you know, you never know what's going on under the video.
It's your dad.
Your dad's doing with a side hustle.
I think this is a really, really good insight that you've had.
And I completely agree.
I think someone like the car guy, I think could make tens of millions.
of dollars. Now let me give you the, so what, what I do about this? Let me add to it, right?
So by the way, another good thing about this, you can have ghostwriters or contributors because
you're just under this anonymous umbrella brand. So that's another benefit here. Okay, so what can you
do with it? So first, I think avoid the, you know, let me do shoutouts. Let me do paid ads in a free
newsletter. Let me do a community. Like, if somebody says the word community, you should stiff arm them.
in this if you're doing these.
You got like,
you want to do it where you actually,
you actually get towards the transaction.
Maybe a high ticket course can work,
but like I do think you want to be more like the car dealership guy who's actually
doing this or you want to be the strip mall guy and you want to raise a giant
fund off of this.
Well, dude,
have you asked why?
Because I'm the same way.
I would,
I almost sold my car recently and I had him give me a quote on it to tell me how
much they're selling for.
And then I go,
oh,
and I made a $100,000 plus decision because of his advice.
Have you asked yourself, why do we trust us these guys?
Like, they don't even, they use a cartoon.
It's the same reason people trust us from this podcast or from Twitter, which is that I think
when you get to see somebody think out loud, which is what writing is or talking on a podcast,
and they're not talking to you, you're overhearing them.
And they're not selling you anything.
They're just giving, give, give, give, give, give, give, give.
This is the Gary Vee playbook, right?
The jab, jab, jab, jab hook is give, give, ask.
and so that's what they're doing.
Right now they're just in give mode.
And I think that's the absolute right way to be.
Give, give, give, give, insights, insights, insights.
And then there's a surprising number of wealthy people who will say, hey, can you help me?
I want to do this.
I want to buy one of these or I want to get your opinion on this.
And they will come to you, hat in hand like me and you did to these suckers, like suckers to these guys.
Okay, so that's the first thing.
Secondly, I think that you would get away.
I called it the guy mafia.
But I'm calling it right here.
It's time to start the gal mafia.
We need,
we need car dealership lady.
We need strip club queen.
We need the female version of MLM queen.
Yeah, exactly.
We need the,
it's called network marketing
or some shit like that, by the way.
That's how that it's like,
when you meet somebody's proud of being in an MLM,
you're like, wait, you know you're in MLM.
They're like, yeah, I'm great at network sales.
What the fuck is network sales?
If you can say the word, I have a downline.
Like, if those words have come out of your mouth,
you're a pimp.
That's what the Twitter profile should be.
Like, does the word downline make you weak at the knees?
If yes, you're at the right place, my friend.
Right.
If I presented you the shapes, circle, square, and triangle,
and you immediately gravitate towards triangle,
it's like those like tests, the Vorsak test or whatever.
Okay.
think you should brand it as a woman, whether you're a guy or a girl, to be honest with you.
I think, you know, catfish away.
I think that's the first opportunity.
Second, you got to go find all the valuable niches.
So luxury watch, sneakers, cars, gas stations, real estate.
I mean, what else?
There's franchises.
Dude, but are women using Twitter?
I surveyed my audience and I go, select if you're a male or a female.
And it was 93% male.
It was all dude.
Probably all dudes looking for a father figure.
Like, it was all young men.
Like, have you,
me and Sahel did the meetup, it was like,
literally 100 to one men to women.
It was crazy.
If you're a single woman, you've got to come to our meetups.
You will love it.
Do you have any women followers, you think?
Like, it's, or is all Twitter this way?
No, I think it's more us than it is all of Twitter.
I think Twitter probably skews, but not to the 90%.
That's kind of a crazy ratio there.
But, okay, by the way, so here's my crazier ideas.
Okay, so first of all, I think Twitter's the wrong place to do this.
I think it works on Twitter for sure.
But I also think LinkedIn, I think that there are other networks where you should probably
be able to do well with this.
I don't know if LinkedIn allows like anonymous accounts or like fake names.
Maybe it doesn't.
But the second thing is, honestly, I think there could be a whole social network that's
basically just, you know, you join here and there's just verified like people who are
industry insiders that you get to read their content from and subscribe and follow them.
I think you could literally like it is not likely to work, but it's more likely than a lot of
stupid social app ideas because it has really clear value prop.
So anyways, that's my like long shot idea around this.
Yeah, I think this is a really, really good insight that you've had.
And I completely agree that there's a massive opportunity here.
I tried to make the argument this summer that there's going to be a billion dollar empire started
on Twitter, just like there has been on YouTube.
all these other things. And I think one of these people, it wouldn't, it's not out of this world that
one of these folks could be that person. Another thing that I've noticed on Twitter, and I didn't
entirely plan this, but because you brought up, I'll bring it up. Have you noticed people doing
affiliates for agencies? So basically who, a question that you and I probably get asked a lot is,
who's a good accounting firm? Or who's a good growth marketer for newsletters?
or, you know, there's like eight questions that you and I get asked all the time.
And I did this with my body tutor.
So my body tutor, they were like, hey, do you just want to like earn money every person you send to us?
Because you're already sending tons of people.
I go, hell yeah, give me a link.
I feel like you're tweeting a bunch of like a bunch of shoutouts.
I was like, are you getting kickbacks here or what's going on?
I feel like you've tweeted a couple of these.
I haven't.
I just started doing it for my body tutor because they're like, dude, you send us so much,
like, we'll just give you some money if you want.
But no, I've, I've not.
Who have I tweeted out lately?
I just call out cool shit.
It was them and it was one other one that I saw that I was like,
Jason Yanowitz.
It was your,
Diego, my video guy.
Yeah, yeah.
No, no.
I just like, I'm just like, fuck it, dude.
What I told him was I go, hey, if you're good, do it for free for you, right?
I go do it for free for me.
And if you're good, I'll tell people about you.
And so I made them do it for free for me for six months.
And so I was just like, I'll just share you with you.
But then you and I have friends and I've seen people do this.
And I think they're making hundreds of thousands of dollars
a year by referring people to certain agencies. And the right way to do this is to find a product or
a service that you're already a fan of and ask for an affiliate or go and start the thing with someone and
just be an affiliate. And I think that there's like this world. We had Neil Patel on the pod. And he
basically founded an agency. And the reason why he was considered the founder was he did start it,
but he wasn't running it. But a lot of the early leads and probably a lot of the leads to this day
came from neil patel.com because people were using his website to search like SEO stuff and we haven't
seen people do that on twitter but it actually is really good because twitter unlike the other
social media platforms is ideal for link clicks and that makes it really easy to attribute growth
and i think that there's a lot of people making a significant amount of money referring people
to these high ticket products and i think we can continue to see that and it might be a lot
pretty quite quite big i've thought about doing this so one thing i've been thinking about doing is
post milk road okay we
sold the milk road got some time what i wanted to do next i kind of want to focus on the pod make the
pod baker uh better all that all that good stuff one of the ways i think but the pod you know the pod
itself is free if you're listening to this right now you've paid me you know zero point zero dollars so how
does this ever you know become something that that you could justify saying i'm not going to go build
another business i'm going to do this instead and one way is that can the pod basically provide
some kind of win-win value for people and so this one thing i was thinking about was like i kind
want to buy a bunch of businesses that like of people that I've worked with like either you
know like go to my accountant or go to my lawyer or go to my estate planner and basically
buy the majority stake in their firm and in exchange be like cool there are a lot of other founders
like me who also want estate planning who also want legal help who also want trademark help who
also want accounting and basically just build a MFM style like back office set of business
And instead of an affiliate, like actually own them, make sure that they're, they're great, like trust in them and, um, and then drive a bunch of value to the, to those businesses. And then in return, there's a bunch of people founders like me who are constantly asking for recommendations about like, you, I'm trying to find a good blank. And I've burned through seven accountants before I found one I like. Same thing on the estate planning side. Same thing. And so it's like, not everybody should have to redo that work. And so that's one thought I've had as to like a cool business to be.
build that just kind of helps kind of founder entrepreneur you know types um and yeah just like
own those bit own a own a collection of those businesses that and then uh you know have audience
you know people in this audience who want that want those same services be able to just go find who
we use yeah and the the cons are like can you possibly vet the right people and have like actually
quality, but the pros are like, this is pretty much what Richard Branson did with Virgin.
And so it's definitely possible. I often wonder why, like, more celebrities, like the Kardashians
and stuff, like, why don't they own an equity stake in more things than they do? It doesn't seem like
they do for a lot. They have done for one or two things that ended up being quite big. And so I wonder,
like, what's the strategy? Like, where does, because every celebrity has thought about this too.
And so I think, like, well, where's the down, where's the, where's the mistakes that? Like, you know, how much
how many, if you're going to take equity stakes,
you know, how much, how many things can you promote and how many things can you,
you know, you're better off basically, in those cases,
like you're better off finding the one or two product categories that you can own a large
chunk of and go big, right?
This is like skims for Kim Kardashian.
This is Kylie's lip stuff.
This is Connor McGregor's whiskey, Irish whiskey.
It's like, you know, he took the Irish whiskey thing.
It was like, oh, I'm just going to put this on blast.
I'm going to own a chunk of this.
I'm going to put this on blast.
I think they sold it for 500 or 600 million within three years, something like that.
So, you know, that was, like, worth a lot more than, like, affiliate linking out to 20 services
or trying to own tiny chunks of 20 businesses and then have to use your clout to promote 20 different businesses.
That's kind of exhausting.
So I think that's why.
You want to do a different topic?
Yeah.
Well, let me brain.
Or do you want to go to, is your pain for tame it really good?
Both of my things here, I think are pretty good.
but I can save them because we're heading to the end.
Go, go, go, go.
Which one do you want?
Painfotainment?
Yes.
Or the Catana store.
The Catana store is a horrible name.
So what is that actually?
I've seen this.
Is this the guy who keeps tweeting about his YouTube page?
Yes.
Yes.
I thought that was beautiful.
I'm like, wait, katana, is this a joke?
Like, you literally just sell swords?
Yeah, exactly.
Okay, so I see this guy.
I've been seeing this guy for a while now.
Same.
I think his website's called Mini Katana.
So it's mini katanas.
But what does that mean?
Like a tech deck?
Like a tech deck, but a sword?
What's a tech deck?
I don't know what that is.
You remember the mini finger skateboards?
No, no, it's not that's full.
It's like, you know, like two feet and length.
Instead of like a full samurai sword is like, you know, five feet or whatever.
This is, you know, like half the size of a normal thing.
Maybe, you know, two feet instead of four.
I didn't know the standard size of a katana if I'm saying.
Yeah, I realize I said that.
And like, you know, the katana guy is going to come after me here.
And that's not who you want on your bad side.
All right.
So if you go to this website, you'll see that it does about 1 to 2 million monthly visits,
which is a lot.
That is a lot of traffic for an e-com store.
He tweets about their revenue sometimes.
Wow.
The website is actually awesome.
It's like the supreme of like swords.
Yeah.
That's a good thing.
So I think this business does, he's at eight figures.
It does at least 10 million a year in revenue.
I think it's probably closer to 20 more.
So I think it's probably closer to 20 based on the traffic.
And one of the main ways that they do it is through YouTube.
Okay, so really there's two kind of like hardcore takeaways that I have out of this.
So this I'm calling my new theory, my updated theory on what it takes to have a great ecom brand.
By the way, these are dope.
I'm going to buy me a fucking sword.
Yeah, you went from making fun of this to add to cart in like six seconds.
Yeah, I'm going to buy me a gold sword.
who doesn't want that.
I call this the Stranger Things Law,
which is basically if you want to make it an e-com,
one of the things you got to do
is find people who are strangely
and unapologetically obsessed
with a certain lifestyle.
And then you just need to sell them things.
So that's the whole model.
So here's an example,
Katana store, right?
So it's like you have this people,
you have people who are just obsessed
with Japanese culture for some reason.
And they're always...
Fedora.
You'll never find maybe being a guy
who loves Japanese culture.
culture, right? Like you're finding white people who are super into Japanese culture, not Japanese people. And so you're like, and there's people who are really into something that's kind of irrational. And I remember me one time I met this guy who was the first product guy, first product manager at Twitter. He joined when Twitter was maybe like 10, 15 people total. And I was like, I remember talking to him and I was like, so was it obvious at that time Twitter was going to be huge? He goes, no, no, no. Like Twitter was like basically nothing at the time. It was very, it was very,
very small. It was just kind of this thing that tech people were doing. But even the tech people who
were using it kind of felt like, well, this is stupid, right? Like, we're all just text messaging,
what we're, like, what we're having for lunch right now. Like, that doesn't seem like the next big
thing. And he goes, but luckily I had learned a very valuable lesson, which is anytime you
observe a weird behavior, people doing a phenomenon where people are in mass just doing this
thing that makes no sense. I first, your first reaction is, say,
that's weird and you kind of judge it.
But I've learned you've got to lean into that phenomenon.
If people are doing it.
People playing video games.
There's a reason.
Exactly.
This reminded me of my experience when I was in college.
I remember freshman year of college.
I walk into my buddy Tofeex dorm room.
And I was like,
I see him playing video games.
And he's got his back to me.
He's playing, I don't know, StarCraft at the time, I think.
And then I'm like, oh, Tof.
And then he turns around.
And I'm like, oh, sorry.
Like, I didn't realize you're in a game.
Because he took off his headphones.
He turned around.
And I noticed that,
The game is like still going.
And he's not, he's not touching the mouse anymore.
And I was like, what are you, wait, what are you doing?
What are you just like a demo mode?
What is this?
He goes, oh, no, I'm not playing.
I'm watching.
You're watching this 2010.
I'm like, 2000, no, 2007 or something like that, 2008.
And I'm like, you're watching somebody play video games.
And he goes, yeah, I have, I always do this.
I'm like, you woke up.
I was like, it's 8.30 in the morning.
You woke up at 8.30 in the morning and started watching somebody play StarCraft.
why don't you just play?
He's like,
no, this is like one of the best players
I just want to watch him.
And I was like,
nerd.
I was like,
I was like,
hold on,
let me go get four friends
so we can make fun to you together
because this is not going to be fun alone.
And I literally,
I was like,
come see what Topfex doing.
This guy's literally,
I was like,
do you know,
is this your friend?
He's like,
no,
and you start like making fun of up,
but you actually like sit next to be like,
well,
hold on,
let me like,
why's you doing that with this dragon?
You know,
like,
yeah,
well,
yeah.
Wait, well, why did you go left?
He should have got left.
He went right.
He's like, this guy is the best player on the Korean server.
So they played this match last night, Korean time, whatever.
I'm watching it now.
And I was like, you are the weirdest nerd.
But this guy is the weirdest guy.
He does like many, many weird things.
This was one of them.
And I remember just laughing out and making fun of them.
Fast forward, 10 years.
I go and I'm like announcing in our LinkedIn or whatever, like, hey, we sold our company,
Bebo to Twitter.
super excited, join the exec team at Twitch.
I get this call from Tofee.
Tofi calls me, you know, twice a year.
I get this call from Tofique.
I pick up, I'm expecting congratulations.
He just goes, you little bitch.
And I'm like, what?
And he's like, you used to make fun of me for this shit.
And now you're Mr. Twitch.
And I was like, oh, yeah, that's right.
I forgot about that.
Dude, you were way ahead of the curve.
I should have listened to you.
Like, I could have created Twitch.
If I had, like, if I had leaned into it.
this insight that people want to watch other people
play video games. I love a guy who holds a garage for
10 years, by the way. Dude, he was, he was
ready. I like the cut of your jib guy.
I'm about it.
And so anyways, that's kind of the
learning of, if you see people doing the
strange behavior, right? Like, I remember seeing people wear those
vibram five-toe shoes where you're
like, you're going to run
barefoot? Why do you do that?
Like, you know, and they're like super into that lifestyle.
I saw a video of
Joe Rogan talking about
people who hunt white bucks or some shit like that like with some certain type of deer I guess
it goes dude people don't realize how crazy this lifestyle is and he started explaining that people
will build fields of like food and like lounge areas to try to attract these bucks in to hunt they
like spend months building these like you know man caves for bucks just to attract them and then
they hunt them, right? And I was like, that's crazy.
People who getting cold ice baths every morning.
Ice bats every morning, just like you. People who, I met a guy yesterday makes $5 million
doing a woodworking course. Woodworking. No way. And it's like, why? Because people
who are into woodworking are not just kind of into woodworking. You can only be really into
woodworking. And so there's this crazy. If you see the strange obsession, that is the basis for
a store.
Our software is the worst.
Have you heard of HubSpot?
See, most CRMs are a cobbled together mess.
But HubSpot is easy to adopt and actually looks gorgeous.
I think I love our new CRM.
Our software is the best.
HubSpot.
Grow better.
So that's the first thing.
Second thing, these guys are crushing it with YouTube organic content.
They built their YouTube channel up to 2 million subscribers.
Oh my God.
This is one of those really cool growth acts.
I think it's worth going and looking at where they just
do these unboxings. They got like, you know, like cute girls who are into katanas, like nerding
out about katanas as they unbox them. It's like, yeah, I can see a bunch of dudes getting really
into this channel. That makes sense to me. Like, I think that's going to be like, I think there's
a lot of people who are going to like this brand and like this content there. And so I think
they're just doing a really good job. I think it's really good execute, like 10 out of 10 execution at like a
five out of 10 opportunity. But like, you know, still nonetheless, a lot you can kind of learn from
this. Dude, I'm looking at their YouTube.
I don't understand a lot of these references because it's like anime based,
but they don't do that many videos.
It looks like they do one or two a month.
And they all kind of hit.
They also do, I think, a lot of TikToks maybe.
So I think they do TikToks.
They basically just move their Facebook ad budget into hiring a full-time female creator
to do this content and that sort of thing.
And so, yeah, I think it's a really cool, really cool brand.
So I just wanted to give the guy a shout out because I figured his name,
but on Twitter, he's like showing all the back end.
Like, he's taking screenshots of their YouTube, and he's a really, really good follow.
He's really been fascinating.
His name. I forget his name, too.
I'll find it in a second.
He said something like they got something like two or three hundred million views in the last year,
and they only started this past year.
And he's like, we're getting $8 million a month.
Isaac.
So his name is Isaac.
He's the Isaac Med, MBD.
in his bios has
scaling a sword brand to nine figures
with organic video marketing.
Well, if that ain't exactly what we just described
you know, like perfect description.
Yeah, he did a really good job.
He's really cool.
Also, I like his profile picture a lot.
He kind of looks like a madman.
He did like a good, clear headshot,
but he kind of looks like a madman
instead of like a tryhard.
And I just appreciate anybody that's not a tryhard.
By the way, pet peeve.
I feel like all of Twitter is so cringe and tryhard.
and I don't know if anything changed or I changed.
But do you feel this way?
Like, I feel like 90% of tweets and including my own tweets,
I'm like, is there a tweet that's not cringy?
I think that we were the try-hards and now we're over it
and we're making fun of people that are doing the exact same thing that we did.
Yeah, I love that.
You use the ladder, climb up and then you pull the ladder up behind you.
Yeah, yeah, yeah.
I think that's what we're doing, you know?
When I did it, it was cool.
but when you do it, that small boy stuff.
Yeah.
I think we're just being haters, which is cool, which is fine.
It's a natural, that's a natural thing.
Let me explain.
I'll wrap up with one quick thing.
I posted a researcher job.
So basically, I don't really have a researcher.
You do, and I'm envious of that.
I want that.
I need a little help because you're, you always come at fire.
I need a little help coming up with good content for the pod.
And by the way, if you want to see the job, just go to my Twitter and, like,
scroll down and you'll see like a Google form.
But so I, I tweeted.
this out, I got like 300 applicants. And in order to apply, I was very specific. I was like,
if you screw up one thing on these directions, like, I'm not even going to consider hiring you.
I was like, you have to like put your LinkedIn here. Job application. Well, yeah, because I was like,
dude, if you're not going to sweat the details on this, then you're not going to, that's what I said.
If you don't do a good job on this, I don't believe you'll do a good job on anything else.
And I made people, I was like, I was like really simple, come up with three ideas.
and make it in a Google Doc and put the Google Doc link in this form, make it so it's readable,
so I can just click it. If it's not readable, I'm not even going to ask to, like, I won't even
look at it. And I got hundreds of applicants. About half of them followed directions. And about a good chunk,
25 percent, we're actually pretty legitimate. What do I do with like these hundred, like,
decent people, you know? It's kind of like an interesting, this is like an interesting business problem
or an interesting problem.
If you have people, so we did this with apartments.
So my first business, that was an online company, was basically, look, in San Francisco,
an open bedroom for a $1,200 a month apartment, an open bedroom in a three-bedroom house,
that gets like 500 applicants.
And all 500 are interested in living in the same neighborhood.
They're all interested in this ad, so they clearly have similar interests.
We should just group them into their own thing and move them into their own apartment.
And that was the premise of my first company.
With this, I'm like, man, I got like,
300 people, 100 are somewhat qualified.
What do you do with this group of people?
It seems like such a waste that I'm just using one of them.
You know what I mean?
Yeah.
Unfortunately, not a lot of people need a researcher like this.
So I think you just need to translate it to like something,
like most people don't have a podcast that requires researching random business stuff.
So what could these people do that's,
what's a job that's more common that these people would be really good for?
Is it like chief of staff type roles?
Is it like something like that, you think?
I don't know. I just started thinking about this ahead of time, like right before we started
recording. But I did think this is like the application process is, and this is just a little
small thing. Imagine if you're Burger King or something or some huge company and you get like,
you know, a million applicants a year. It's like kind of interesting where if you, you can only
hire a couple of them. And so you're like are wasting 98%. You know, in the same way that Ford decided
to make charcoal out of their burnt wood that they were using to heat their furnaces when they were
making iron. What can my charcoal be of these 299 applicants that I don't actually hire?
Yeah, that's a great question. I don't have an answer. I don't have an answer. Sorry. Yeah,
sorry people. This is a letdown, but it's an interesting question. The thing to do would be like,
what common job do these skills translate to? And then you have now a cohort or a pool of people
that are somewhat vetted that you could create like a job board or some sort of like matching
marketplace or service where people could just hire, you know, people like this for that common
job. But I'm not sure. Well, I wonder like the people who have enough probably don't care,
but what like the people who like the engineering companies or someone who's getting like a startup
that's getting an engineering company or getting engineers to apply. What they should do is just like,
be like, hey, I'm sorry, you didn't get the job. But here's like five other gigs that are kind of cool.
and just take like the $30,000 referral fee.
Do you know what I mean?
So our buddy Ryan Hoover kind of did this.
He was hiring a researcher or like an analyst for his fund.
And he's like, dude, I got like hundreds of applicants.
I interviewed them.
And he's like, these, I forgot how many.
Let's call it 30 just for an example.
He's like, these 30 were really good.
I just, I can't hire 30.
I only needed one.
And so he emailed me and a bunch of other people who had funds.
He's like, do you need an analyst?
Like here's our kind of vetted analysts that we thought were good.
if you need one, like I'd love to help these people get a job.
Like he wasn't asking for any money because Ryan's a nice guy and, you know,
this is not how he's looking to make money.
But like, it was kind of great.
At the same time, I was sort of like, I'm not looking for the sloppy seconds.
Like these people weren't good enough for you.
Why are they good enough for me?
There's a part of me that's like that too.
So I think you have that challenge.
If I'm a tech company, I'm looking for engineers.
That's fair.
And I hire these people and you didn't hire me, but, you know, Facebook didn't hire you,
but Google should.
And I think Google's got a little problem with that.
So you have to find somewhere around that signal problem.
same thing with investments.
If I send an investment to you, I'm like, hey, great deal.
Not doing it, though.
You should.
You should invest in this.
It's like those are the worst emails because it just sometimes it's true.
It's like, oh, this is just your niche or it's your stage or whatever.
But a lot of times it just adds like a negative flag to it for no reason.
Well, and the answer to this might be there's nothing I could do.
Fuck them.
Sorry, guys.
You did all this work for me and you just not, you're not going to get the job.
And there's some guys who have applied for like eight jobs that I've had throughout the years.
And I feel so sad.
I'm like, sorry.
Yeah.
You missed again.
We're not hiring that many people, right?
So it's just a hard, hard thing to do.
All right.
Let's wrap it up there.
Good episode.
And we have to see you guys.
