Something You Should Know - SYSK Choice: Great Advice on How to Succeed from a Self-Made Billionaire
Episode Date: October 19, 2019How do you cure a cough? Well, there is one idea that has been floating around that some people swear works – even though it appears to be impossible. This episode begins with this weird cure. https...://startsat60.com/health/mythbusting-does-vicks-on-the-feet-really-stop-coughing Being an entrepreneur appeals to a lot of people – more today than ever before. More and more people today are taking the entrepreneurial route rather than working 9-5. While it sounds exciting, it is risky. So how do you find success when so many fail with their ideas? Jay Samit has some very insightful and encouraging advice you should hear. Jay is a billionaire entrepreneur and author of the book Disrupt You! (https://amzn.to/2BucWao). When you are done listening you will be inspired! When you get stressed out because people cut you off on the highway or take too long in line at the airport – there is a way to relieve yourself of getting all stressed out about it. And it doesn’t take more than a simple shift in how you think. https://www.goodreads.com/quotes/147819-we-judge-ourselves-by-our-intentions-and-others-by-their This Week's Sponsors -Beautycounter. To get 10% of your entire first order go to www.beautycounter.com and use promo code SOMETHING –Airbnb. To learn more about being an Airbnb host visit www.Airbnb.com/host -Babbel. Get 6 months for the price of 3 when you use the promo code SYSK at www.Babbel.com Learn more about your ad choices. Visit megaphone.fm/adchoices
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As a listener to Something You Should Know, I can only assume that you are someone who likes to learn about new and interesting things
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I mean, that's kind of what Something You Should Know was all about.
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Join host Elise Hu.
She goes beyond the headlines so you can hear about the big ideas shaping our future.
Learn about things like sustainable fashion,
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if you like this podcast, Something You Should Know, I'm pretty sure you're going to like
TED Talks Daily. And you get TED Fox Daily, wherever nourish your idea. This is the worst advice.
As an entrepreneur, your job is to kill your idea,
to find every reason why it sucks and should die.
Which is fine because your next idea will probably be better.
We're now all walking around with a mobile phone.
We are one click away from six billion people.
You only have to be right for a nanosecond to suddenly make huge fortunes.
And I'm going to tell you how to instantly remove a ton of stress this holiday season.
And it just takes a slight shift in attitude.
All this today on Something You Should Know.
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Something you should know.
Fascinating intel.
The world's top experts.
And practical advice you can use in your life.
Today, Something You Should Know with Mike Carruthers.
Hi, and welcome to another weekend edition of Something You Should Know.
An unusual edition in the sense that we only have one guest today.
We normally have two. We have only one today, and I think you will find him particularly fascinating.
I want to start today talking about
the inevitable winter cold, or more specifically, the winter cough. As I'm sure you know, one of
the worst things about getting a cold is that sometimes, as the cold starts to disappear,
you get that cough, and it lingers, and it lingers, and it won't't go away and it keeps you up at night. And it's horrible.
Well, several years ago, people started talking about a way to eliminate that cough, to cure it.
It started with an email that was being circulated from the Canada Research Council.
And it said that the way you cure a persistent cough is to rub Vicks VapoRub generously on the bottoms of your feet
and then put on a thick pair of socks and then go to bed.
So somehow this email started circulating several years ago
and there are people who to this day swear
that this really works to help get rid of a persistent cough.
Vicks VapoRub on the bottom of your feet
with a thick pair of socks and then you go to bed. However, there are some real problems with this whole thing.
First of all, there's no such thing as the Canada Research Council,
which is the supposed source of this cure for the common cough.
There's also no evidence that anyone can find that this actually works.
And at first glance, anyway, it would seem a bit odd
that putting something on the bottom of your feet will cure a cough.
I mean, the whole theory behind Vic's VapoRub is that
it helps relieve cold symptoms when you inhale it.
But it couldn't be further away from your nose
than the bottom of your feet for that to work.
Still, people say this thing works, and I guess there isn't any harm in trying,
except for the mess it must make in those socks.
And that is something you should know.
There are a lot of entrepreneurs in the world.
I'm one, maybe you're one.
Or maybe you just have an idea that you hope
one day will become a successful entrepreneurial idea. Achieving success, though, that's the hard
part. But maybe you can make that journey a little easier when you listen to my first guest,
Jay Samet. While there are a lot of successful entrepreneurs, Only a few get to put the title billionaire in front of
their name, and Jay Samet is one of them. Jay is a leading technology innovator who has raised
hundreds of millions of dollars for startups. He has sold businesses to Fortune 500 companies. He's
taken other companies public. Wired Magazine described him as having the coolest job in the industry.
Jay Samet is also the author of the book Disrupt You.
And so, Jay, since you have this rather impressive resume, let's start with your story.
I'm a serial entrepreneur who went out into the world and woke up one day and realized dozens of my friends have become billionaires.
And it wasn't that we were special. It's that we looked at
business differently and Disrupt You is teaching people how to really seize opportunity and have
the type of life they want. And when people look at those kinds of people, you billionaire types,
you know, we think there's some magic secret sauce, your brain is wired different,
or you got lucky, or gee, I wish I thought of that,
or, you know, a million things pop into people's minds,
and are those things valid?
Not really.
We're now all walking around with a mobile phone.
We are one click away from six billion people.
You only have to be right for a nanosecond to suddenly make huge fortunes.
The self-made billionaire in his 20s is not the exception of the rule.
And this isn't just about technology.
This is about really how you can use everything that's in the world today
and connect with people, solve other people's problems.
And the bigger problems you solve, the more successful you are.
I guess people have a hard time understanding how that thought process works, though.
How do you start thinking like somebody who solves people's problems,
and then how do you take that solution, assuming you think of it, and turn it into dollars?
So I'll give you the simple thing that I teach in Disrupt You.
Write down three problems that you see in your life today.
Do that for a month, and at the end of the month, you'll have 90 business ideas.
In the beginning of the month, it's easy.
Wow, I was sitting in traffic.
Well, that became Waze, you know, a billion-dollar piece of software.
You don't have to be an engineer.
You don't have to have those pieces.
The only piece you have to have is drive and persistence. Everything else can be hired.
Many people have been in the airport and their flight's canceled. A disruptor looks around and
says, wow, all these people need a plane. What if I lease one to make the flight,
sell everybody tickets? And that's how Richard Branson, a music exec, launched an airline. He was stuck in Puerto Rico and wanted to get to
Virgin Island. It's that simple. Just look at problems and solve them. Every obstacle is an
opportunity in disguise. Yeah, which again gets back to that idea that, geez, I wish my brain
worked that way, but it doesn't. I don't think, what happens when I, my flight gets canceled is,
you know, maybe I get all pissed flight gets canceled is, you know,
maybe I get all pissed off or I just, you know, tuck my tail between my legs and go home or,
you know, my brain doesn't work that way. So we were trained from early childhood that you're
good at this, you're bad at that. And in Disrupt You, I really try to teach you how to train your
brain and actually on an MRI, you could rewire your brain.
It sounds crazy, but they've done twin studies and I won't bore you with it here.
But I was born dyslexic. I was told I was less than. I was told I was handicapped. It turns out
dyslexics solve problems differently and that's why so many of the most famous
entrepreneurs in the world turned out that they were dyslexic. They solved problems in a different manner. So it's really about figuring
out what makes you unique in the world, the best at what you're doing, and you're the only person
that has your vantage point to some problem that you then can solve. You talked about persistence,
and I think everybody has heard how important persistence is.
You have to keep pushing your idea forward, even though you're going to run into a lot of no's.
But in reality, that can be really hard.
That kind of resistance where people say, you know, that won't work.
That's not, you know, I don't think that's a good idea.
It's very hard to stay positive and keep that momentum going when you
keep hearing no, no, no. Absolutely. But why do you want to listen to people that gave up on their
dreams tell you to do the same? Right? I always ask people one simple question. Are you living
the life you want or just paying bills until you die. We only get one shot. And so it's
really about what you want to do. So yeah, your industry changed. You know, this happened to
people in the music industry, in the book publishing industry. 3D printing wipes out
320 million manufacturing jobs, autonomous vehicles. So unless you figure out how to
disrupt yourself, you'll be disrupted one way or the other.
The choice is do you turn this into a great opportunity or do you sit there and say, woe is me?
I'm speaking with billionaire Jay Samet, and he is author of the book Disrupt You.
Hi, I'm Jennifer, a co-founder of the Go Kid Go Network.
At Go Kid Go, putting kids first is at the heart of every show that we produce.
That's why we're so excited to introduce a brand new show to our network called The Search for the Silver Lightning,
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Look for the Search for the Silver Lining on Spotify, Apple, or wherever you get your podcasts.
People who listen to something you should know are curious about the world,
looking to hear new ideas and perspectives.
So I want to tell you about a podcast that is full of new ideas and perspectives,
and one I've started listening to called Intelligence Squared. It's the podcast
where great minds meet. Listen in for some great talks on science, tech, politics, creativity,
wellness, and a lot more. A couple of recent examples, Mustafa Suleiman, the CEO of Microsoft
AI, discussing the future of technology. That's pretty cool.
And writer, podcaster, and filmmaker John Ronson,
discussing the rise of conspiracies and culture wars.
Intelligence Squared is the kind of podcast that gets you thinking a little more openly about the important conversations going on today.
Being curious, you're probably just the type of person Intelligence Squared is meant for.
Check out Intelligence Squared wherever you get your podcasts.
So Jay, I think it's easy sometimes to look back and point at all this great entrepreneurial success
and tell those great stories.
There's Richard Branson. He's stuck at an airport, so he comes up with his idea to start his own airline,
and wow, isn't that incredible?
But he could have come up with an idea for an airline, and it could have bombed badly,
and he could have lost all his money.
Well, here's the thing. Most entrepreneurs, most of the most successful people have failed.
Bill Gates and Paul Allen's first company went under.
Their second company was Microsoft.
Henry Ford failed three times with bankruptcies before he launched Ford Motor at 54.
Colonel Sanders didn't launch his Kentucky Fried Chicken until he was in his 60s.
So the key is to understand that everyone fails.
Failing is fine.
You learn from failing.
Failure is giving up.
And if you give up, you never know how close you are to your goal.
But how do people who are really good at this decide whether or not, you know, the universe
is telling them that your idea really does suck or it really is worth persisting?
Great question.
Because there's a member on your team that will never lie to you
that has no ego, and that's called data. You look at what happens. So there were three guys 10 years
ago that said, oh my God, we're going to revolutionize online dating. Instead of it being
a still picture, we're going to let people upload videos so you can see that it's current, what they
sound like, get more of their personality. Surefire idea. It was called Tune
in, Hook Up. I talk about it in the book. They put it out there and guess what? Nobody wanted
to date any of these people. A complete failure. But they noticed from the data that people were
referring their friends to look at these videos. They found the videos interesting and the people
kind of interesting. So they changed the name of the company to YouTube and became billionaires.
Look at the data.
Most every business pivots.
It's not, here's the business plan carved in stone.
I will be the next podcaster.
I will do this.
Look at Adam Carolla.
Adam Carolla on TV has not had success.
Adam Carolla in podcasting has found an audience and a voice and is one of the most prestigious podcasters out there.
The balance and the difference today is the cost the most prestigious podcasters out there. The balance and the
difference today is the cost of launching a business, whether it's a book, whether it's a
restaurant, whether it's a piece of software, is a tenth of what it was a decade ago. Marketing is
cheaper. You can plug into the same cloud that Amazon uses. So you really can launch a global
business just on your willpower.
And how many people have sat back and seen somebody else do that and go,
gee, I had that idea three years ago, but I never did anything with it?
I hear that all the time.
Oh, I had the same idea.
But the flip side is I am humbled every day in writing Disrupt You, meeting people, teenagers that are finding cures for cancer.
I mean, amazing things out there that make us each say,
what did I accomplish this day or this week,
compared to the potential of what you could.
The fact, though, is that most people aren't in that club that you're a member of,
that they never get there.
They try as they might, and some don't try.
But of those people, of the Jay Sammets and the Richard Bransons,
what do you guys have in common that you see that the people who never join your club don't have?
Well, I was a son of a public school teacher.
I grew up in Philadelphia.
I didn't know anybody or any of this, and I never knew what a millionaire was, okay? What people that have made it have is one thing in
common. They didn't stop. They didn't give up. When they saw an obstacle, they learned from it,
and they pressed on. And that's really what differentiates. So when you look at why so
much innovation comes out of the United States, we do not have the best educational system in the world, but we do not have the fear of failure.
We grew up with either watching Lucy Ricardo or Homer Simpson or the Honeymooners.
You have this get-rich-quick idea.
You try it.
It fails, and life goes on.
And it's that idea that this country was built on,
that there's no fear and no shame in trying.
So you're not going to be successful every time,
but you only need to be successful once to really see how it can change your life
and those around you.
And in the book, everybody wants to change the world,
but most people don't realize it starts with changing themselves.
And so the book goes into thirds, how to change yourself, then how to apply that to changing
business and finding opportunity.
And for those that want to go beyond the dollars and cents, how to take the same skills and
change and deal with world issues, climate change, government institutions, NGOs, education.
It's really amazing.
And the inspiring stories from dozens and dozens of
people from all walks of life prove that it is attainable. Is there another level here where we
have the billionaire types who just hit it out of the park, YouTube and Facebook and all that,
and then the people who don't? But are there a lot of people somewhere in the middle who do pretty
well, but they don't quite get the headlines because they don't have billionaire in front of their name?
There are tons of unsung heroes that are making a great living,
but more importantly, having a fantastic life.
Because really, the purpose in life is to find a life of purpose.
And so if you can discover what you're good at and what you enjoy, you will be successful.
I gave a commencement speech that's on YouTube of my friends in college, and I'm amazed at what
they all went on to achieve because they didn't give up. And that's all that it comes down to.
And it is really not something that others can achieve that, you know, great people have
greatness thrust upon them. It is
really a simple process that needs to be explained, and it's not taught in schools. And that's why
Disrupt You is really to teach people how to seize opportunity and transform their lives.
My guest on the podcast today is Jay Samet, and he is author of the book Disrupt You.
Hey, everyone. Join me, Megan Rinks.
And me, Melissa Demonts, for Don't Blame Me, But Am I Wrong? of the book, Disrupt You. Plus, we share our hot takes on current events. Then tune in to see you next Tuesday for our Lister poll results from But Am I Wrong?
And finally, wrap up your week with Fisting Friday, where we catch up and talk all things pop culture.
Listen to Don't Blame Me, But Am I Wrong? on Apple Podcasts, Spotify, or wherever you get your podcasts.
New episodes every Monday, Tuesday, Thursday, and Friday.
Do you love Disney?
Then you are going to love our hit podcast, Disney Countdown.
I'm Megan, the Magical Millennial.
And I'm the Dapper Danielle.
On every episode of our fun and family-friendly show,
we count down our top 10 lists of all things Disney.
There is nothing we don't cover.
We are famous for rabbit holes, Disney-themed games,
and fun facts you didn't know you needed,
but you definitely need in your life. So if you're looking for a healthy dose of Disney magic,
check out Disney Countdown wherever you get your podcasts.
So Jay, let's talk about the process. What is the process to do what you're talking about?
So here's the basic metaphor for the process. I teach people how to pack a disruptor suitcase.
When you go on a vacation, you're going to go to Hawaii.
You don't bring a refrigerator.
You don't bring your skis.
You don't bring a parka.
You just take what you need and leave all the other stuff behind.
You have to look at your career as the same type of adventure.
If you know where you'd like to be five years from now,
you can start working backwards
and think of what you need to pack,
and you may have things that you need to get.
If you want to be a surgeon,
you know one of the steps is going to be medical school, right?
If you want to open a restaurant, what do you want to do?
And there's some great stories about people
that really break down the value chain,
and it's about figuring out where you fit in.
Very simple example.
You just want to get a different job.
Today there are algorithms that big companies use to sort through resumes.
Your resume will be seen for less than 20 seconds.
What words are you using on your resume?
Did you just pull them out of your head and write them,
or did you look and see what are the words that get people hired?
I have a chart
in Disrupt You that shows you the winning words that get you through that filter. So it's arming
yourself with information, practical information, that will make your dreams attainable.
How do you deal with, what's your recommendation? And I've gone through this where,
you know, several years ago I saw that radio was...
Dying.
Fortunately.
And, you know, that's been my whole career.
And so I started looking at other things and trying them and failing.
And that's okay.
I can suck it up.
But there does come a point where you start to think, you just get gun shy.
The next thing, it wears you down.
It's hard to get back up every time you get knocked down, and at some point you think,
Christ, this is really, really hard, and it's more of a mental thing than a business thing.
The challenge of dealing with setbacks and failures is that you're going it alone,
and that voice in your head, you know, everybody that's so easy to tell you you shouldn't have, right?
And that's one of the reasons why I tweet at Jay Samet, Motivational Advice to Entrepreneurs,
and I have a huge following of over 100,000 people,
because just like a shower, you need motivation every day, and it is tough.
No one's saying that it is easy that you just sit back and magically the world changes,
but it is not impossible or outside of anyone's grasp.
And there are entrepreneurs all over the world.
There are people from the most humble circumstances that have changed their life by just solving the simplest problem.
I'll give you one of my favorite examples.
A woman in Florida had a sales
job requiring her to wear a pantyhose. It's hot. It's humid. You wear open-toe shoes. You look
ridiculous. She tried cutting the toes off. She tried everything. She finally figured out something
that worked and went to every hosiery maker, and they laughed at her. She went into a bookstore
and bought patents for dummies, wrote her own patent, and the name of her company is Spanx, and she's a billionaire today. She just solved a problem that she had and realized she
was solving it for others. Entrepreneurs are just problem solvers. You have problems in your life.
If your life has a ton of problems, you have a wealth of opportunity. Sometimes people who have
the problem don't necessarily see they have a
problem. So educating your market is really one of the challenges of any business. How do you
acquire customers? And we talk about and disrupt you some of the ways to use social media and
today's tools to very cheaply verify. One of my key premises is you need to find your apostles,
just like Jesus. You need to find 10 or 12 people in your target audience that will tell you, yes, this helps, no, this doesn't, and respond to them.
Don't go to friends and family if it's a good idea.
They encourage too many bad ideas.
And the other secret is everyone tells you to nourish your idea.
This is the worst advice. As an entrepreneur, your job is to kill
your idea, to find every reason why it sucks and should die. Because if you can do that before you
spend money and waste time, you have more time and money to build a successful business. And when you
come up with that zombie idea that can't be killed, then start pouring money on it. I want to talk more about this idea of educating your market, educating your customer,
because it's common advice that if you're going to come up with an idea for a product or service,
that it should already have a market, that if you have to explain to people and convince people that they need it
and they haven't needed it up till now, that that's a big fight
to fight and that you're better to come up with an idea that already has a market waiting
for it.
Well, and that's one of the things.
I was coaching a young company yesterday that invented a new type of selfie stick.
And I was trying to explain to them,
everybody sees them out there,
but they don't see how it applies to them.
You know, do marketing around all these family memories that you have.
Where's dad? Where's dad?
There's no pictures of dad
because dad was the guy taking the camera pictures,
holding the camera.
So if you switch around and you say,
solve a problem, then people go,
wow, I do have that problem.
I want my dad in my memories.
We need to take a selfie stick on our family vacation.
It's really about that.
I tell the story and disrupt you about a friend of mine who saw that people were no longer tying up their dogs in the backyard.
Dogs were living in the house.
They were a member of the family.
And you would serve better food to a family member than you would to a barnyard animal.
So he invented premium dog food.
And his wholesale price of his dog food was higher.
I mean, his retail price was higher than the wholesale price of the competition.
So everybody laughed at him for years until he sold Iams for several billion dollars to be the largest acquisition Procter & Gamble ever made.
It's one insight.
And you will find that insight by studying your world.
You don't have to be Doc Brown and have this fully formed flux capacitor idea pop in your head.
I love that.
It's really about analyzing what is different in the world and what you can now solve.
And I talk about and disrupt you all the patents, all the engineering,
all the billions that's spent on research that just sits at universities,
free for you to go get, because no entrepreneur looked at it
and found a different way to solve a problem.
I'll give you one short story, and I'll try to do it in radio speak.
So here's an example of millions and millions of dollars of research that was available for free.
World War II, Japanese have Southeast Asia.
There's no rubber.
You can't make boots.
You can't make tires.
The Allies need it. All the great labs, all the great universities are trying to make synthetic rubber.
And they came up with something with the same viscosity, the same everything,
except it couldn't hold a shape.
And it was invented by GE Labs, and they sent it to all these universities, and nothing.
The war ends, millions were spent on it, it was a waste.
Except people liked holding it and stretching and playing with it,
and there was an entrepreneur who went to Toy Fair,
and the weekend before he took a bunch of this goop and had tons of students put in plastic eggs,
and he went on to sell 300 million silly putties.
It's that simple.
The dust buster that's in your house was designed to pick up dust from the moon. Okay?
NASA has a website letting anybody come and take these patents and turn them into products.
So you don't have to invent things.
You don't have to be the scientist.
You don't have to be a banker.
You just have to be persistent.
Wow.
I didn't know that.
You can go take NASA's patents?
Yeah, they have a whole website.
And they don't want a piece of it?
You'll see the terms, and there's a new organization where
many universities are putting
up patents that you can use, and
they'll get some piece, but they're not
asking for up front, they're not stopping you.
They're encouraging you.
And I show in the book
tons of products that are out
there that people just went and saw a solution that nobody else did.
Many companies will let you license their brands.
Even Richard Branson does this.
There have been over 300 Virgin companies.
He didn't start them all.
Somebody started a comic book company and said, hey, can we name it Virgin Comics?
We will give you a piece.
Well, that saves you time and energy getting into the market. Okay. I think that's great. I mean, when I, when I grew up, pretty much the idea was
you go to school, you go to college, you get a job. And, you know, cause my dad's generation
was the, you know, gold watch generation. A hundred percent. And you know what happened?
You fell into, and that generation sold us on a thing
that security robs ambition. Go get the secure job, right? Well, it's the illusion of security
that robs ambition. Of the Fortune 500 companies, only 57 are still in the Fortune 500. So if you
went for that gold watch, the company doesn't last long enough for you to get it. So whether
by choice or circumstance, every career gets disrupted. So unless you figure out the tools for lifelong
learning to continue to innovate and continue to be part of a changing world, you're left behind.
You know, after listening to you talk, it's kind of hard to imagine wanting to be anything but
an entrepreneur. You make it sound very appealing.
Jay Samet has been my guest.
He's a billionaire, and he is author of the book Disrupt You.
You'll find a link to his book in the show notes.
Thanks, Jay. Thanks for coming on.
Thank you so much.
Thank you for helping me get the word out, and I'm much, much obliged.
And finally today, on Something You Should Know, I'm going to save
you a boatload of stress this holiday season, and all you have to do is remember this quote.
We judge others by their actions while we judge ourselves by our intentions.
We judge others by their actions while we judge ourselves by our intentions. Now, the perfect example of
this is when somebody cuts you off when you're driving on the highway. There's a tendency to
just automatically assume that that person is a total jerk. Yet, when we cut people off
inadvertently on the road, we don't think of ourselves as jerks. We're just good people who
made a mistake. We cut ourselves all kinds of slack because we know we're good people.
A simple error in judgment is not a reflection of your character. But while the traffic example
illustrates this perfectly, it happens in all areas of life, in work, love, friendship, strangers we
encounter. The fact is, most people are not jerks.
They didn't mean to cut you off on the highway.
They didn't realize their music was too loud.
And they really are sorry that they're taking so long at the airport check-in counter.
But there really is a problem, and they need to sort it out.
When you understand this, when you understand that quote, that we judge others by their actions and we judge ourselves by our intentions, it takes a big load off.
And that is something you should know.
Remember, we also have a website where you can get all the episodes as well as get pictures of the guests and their book covers and links to everything.
It's all on our website, somethingyoushouldknow.net.
I'm Micah Ruthers.
Thanks for listening today to Something You Should Know.
Welcome to the small town of Chinook, where faith runs deep and secrets run deeper.
In this new thriller, religion and crime collide when a gruesome murder rocks the isolated
Montana community.
Everyone is quick
to point their fingers at a drug-addicted teenager, but local deputy Ruth Vogel isn't convinced.
She suspects connections to a powerful religious group. Enter federal agent V.B. Loro, who has been
investigating a local church for possible criminal activity. The pair form an unlikely partnership to
catch the killer, unearthing
secrets that leave Ruth torn between her duty to the law, her religious convictions, and her very
own family. But something more sinister than murder is afoot, and someone is watching Ruth.
Chinook, starring Kelly Marie Tran and Sanaa Lathan. Listen to Chinook wherever you get your podcasts. Search for The Silver Lining, a fantasy adventure series about a spirited young girl named Isla who time travels to the mythical land of Camelot.
Look for The Search for The Silver Lining on Spotify, Apple, or wherever you get your podcasts.