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I made my first million when I turned 30 years old, but I'm going to walk you through every single business I tried before I made something that worked.
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And Sam, you can roast me for how bad my ideas were. All right.
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You So, I did this previously.
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You totally went up to me by having a presentation.
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So, that's a little unfair, but it's like in Mean Girls where she shows up to the Halloween party and she doesn't know that you're supposed to dress [ __ ] and she dresses scary.
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That's kind of how I feel right now.
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>> [laughter] >> But, that's okay.
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Uh I'm incredibly excited to see what what you have to do.
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Business number one, I tried to create the Chipotle of sushi.
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So, this was my first big hair-brained idea.
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It was called Sabi Sushi and we even though I didn't know anything about sushi, I had just tried sushi for the first time a month prior, I just thought, this is it. This is the big idea.
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I can create the Chipotle of sushi.
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We partnered with a Food Network chef. We launched the thing.
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I learned how to make, you know, spicy tuna and like all kinds of stuff.
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>> And that was the guy who uh what was your buddy's name who bought the uh bag company? Dan.
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Yeah, so if you've seen the episode with Dan who Dan the Bag Man where he bought a a paper bag company now and is thriving, he was right next to me in the sushi trenches.
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Okay, so you know, just kind of the summary of that whole venture, restaurants suck as a business.
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You know, 10% operating margins, you're working morning, afternoon, and night. You're open on weekends. There's no letup.
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My hands smelled like tuna all the time.
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It was just a brutal business to be in and we literally did every dumb thing you could possibly think of.
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I sort of took a buffet tour of all the possible mistakes you could make in doing a business.
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And then oh, my grade for this by the way, A for effort, but this business was an F.
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And I think in the end we made something like $20,000 profit before we voluntarily shut down the business cuz it was so brutal.
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But, if you to look at that in terms of the one year of full-time effort that it took us, I was making a dollar 82 an hour.
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So, that was my big big profit out of that business.
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How much did it cost to start? We got lucky.
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It was going to cost half a million dollars to build out the restaurant.
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That was a combination of signing the lease with a personal guarantee by the way, which is bad because restaurants fail.
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And and you had nothing to guarantee.
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And I had nothing to back it up.
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So, it was like you'll be on the hook for this for 10 years unless you declare personal bankruptcy.
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And then you have to buy all the equipment.
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You got to do the buildout.
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All this [ __ ] We hired the fancy Oh, we hired this architect who built the Vedara.
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He was the architect of the Vedara in Vegas and we Again, every dumb mistake you could We thought, oh wow, he's the best.
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So, he should design our restaurant.
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And he came up with this plan that was going to cost us half a million dollars uh to build out.
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But, I mean, that's pretty ridiculous.
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That's like having like the guy who like developed the World Trade Center to like make your kids background play set.
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>> Like a Like a Like a >> [laughter] >> Like a Like a play structure. Exactly.
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But, we were like, you know, this is so sick.
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We're We're really We're really just changing the game out here.
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>> Did Did you tell him that? Was that your pitch?
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We were crossing our eyes and dotting our tees, but that's not what you're supposed to do.
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That's not how those letters look.
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So, yeah, we were doing everything wrong in in it with maximal effort.
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So, how much did it cost?
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We ended up luckily, this beautiful beautiful man with a beautiful set of hair named John Prendergast met us and was like, "Hey guys, maybe test your concept before you commit 10 years and a personal guarantee to this thing."
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And we were like, "How do you test a restaurant?"
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And so, he convinced us to basically do a delivery-only restaurant out of a commissary kitchen.
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What today is called a cloud kitchen. It's very fancy today.
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Back then, there was no Uber Eats, no DoorDash, and we just looked like bums who couldn't afford a restaurant.
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And so, we tested it that way.
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That's why it actually cost us almost nothing to start and we made $20,000 profit in like, I don't know, one or two months.
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But, we also were like, this is a trap.
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Every day that this succeeds is another day we're going to be in this business and I just want out. I'm only 21 years old. It's not too late.
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I'm still a minor and I don't need to have a life sentence in this business. Get me out of here. All right.
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Which We We have to say this really quick.
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Every So, you gave yourself an F and you said it was horrible and you wanted to escape.
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We can give examples of every uh for every type of business and probably everything you're going to mention of someone who actually did it.
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So, for example, the chicken tenders guy, uh Todd Graves, who's now like, you know, the 30th richest man in America. And it sounds awesome.
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Obviously, it sounds awesome because it's successful.
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But, Yeah, I'm sure Jimmy John's is not like regretting it, you know what I mean? He's cool. He's got He likes it.
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Um but, for us it was not the right business to be in.
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Uh so, you know, I'm giving you a little bit of wisdom. So, here we go.
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Sean the Elder, now that we're with my elder wisdom, Sean the Elder says, "Lesson number one, your first business is your worst business and that's okay."
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The most important thing of this entire business was just that I started and I kind of got the itch and I kind of got some momentum and I saw, man, if I can make that much progress with something I knew nothing about, then, you know, the next thing didn't scare me.
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So, I think that was the only good thing out of this business, which is that, you know, all success requires a start and it was a start. All right, number two.
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Number two, I tried selling wristbands online.
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Been there, done that, man. Livestrong.
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I saw the Livestrong band trend, which for those who don't know, Lance Armstrong had these yellow wristbands that were like all the rage. So, what happened?
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Everything I did wrong in the first business, I was like, "Jerry, I'm doing the opposite now."
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And I basically we Here's what we did.
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We set a 48-hour time constraint.
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So, we said, "Last time, we spent 9 months planning and researching and planning and researching and no action.
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This time, it's all action."
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And so, we gave ourselves 48 hours and I said, "Look, I feel like we've been playing dress-up as entrepreneurs.
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We're just playing house like my daughter does.
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And instead, what we need to do is do the real thing."
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So, I said, "The rule is I don't care what business we do.
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We got to launch it and we got to make a dollar of revenue from a real customer in 48 hours."
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And that constraint was actually pretty amazing. So, what did we do?
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We were too dumb to really like do anything fancy online, but we're like, "Let's Let's make something online. No physical location."
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And I had just discovered Alibaba.
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This was now in back in like 2011.
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I was like, "Wow, it's amazing.
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You know, all the [ __ ] we buy comes from China.
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There's a website where the factory is just like online.
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You can just go talk to the factory and they will they'll just ship it straight to the customer.
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You don't even need to buy the inventory."
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And I basically I stumbled into what is now obviously drop shipping.
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So, we did this drop shipping business and in 48 hours this one is actually a pretty cool idea.
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The As you can see my website here, it says thefatband. com.
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That was our our website and then it says, "1-in silicone wristbands, free shipping, as seen on TV."
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>> [laughter] >> So, I was just lying.
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Yeah, I was a huge liar already. As seen on TV. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah.
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And um and then we had This is what was hot at the time.
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You can see what was hot by the the free examples.
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The London 2012 Olympics were coming up.
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So, we thought maybe maybe people want to wear that.
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And we don't have the license, but let's just again, if we're already lying, why not also steal?
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Um the next thing was GTL.
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Do you even know what that is? Uh GTL.
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No, is it like good get to it or I don't know, good [ __ ] luck? I'll give you a guess. Go ahead. Go ahead. Just make something up. GTL. I got to love. I I don't know.
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>> [laughter] >> Like this GTL, if you remember, the hottest show in the world back in 2011 was the Jersey Shore and they used to say GTL.
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>> [laughter] >> But, we were like, oh yeah, dude, gym, tan, laundry. That's the thing.
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And And there's another one down here that says Bieber fever.
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So, this is >> then, you didn't gym, you were tan, you definitely probably weren't doing laundry.
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>> [laughter] >> Oh, for three.
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But, here's the good news.
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I give this business an A because in the 48 hours we actually got two orders. We made $750.
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I learned how to make a website.
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I learned how to take payments online.
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I learned how to use Alibaba.
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And we did it like way faster than everything we had done before.
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So, it was like actually way better of a business in 2 days than the previous year had been for me.
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So, I give it an A, although I'm pretty sure one of the orders like I did this with my buddy Trevor.
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I think he was just like hooking up with one of the girls who ordered and she wanted to like get back together with him or something.
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But, hey, like a dub's a dub.
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We'll take what we can get.
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Uh you know, beggars can't be choosers.
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So, Sean the Elder says, uh "He who studies success learns little.
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He who studies failure learns truth."
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I think the real lesson out of this one was basically creativity loves constraints.
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The power of setting a time box constraint.
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If we had said, "This will be our next big business," we would have again spent 6 months planning.
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It was when we said, "Come hell or high water, we're doing it for real.
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We're going to get revenue in 48 hours."
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All our ideas then had to like fit in that box.
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And so, there's this lie in creativity, which is you got to think outside the box. No, no, no.
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What the pros do is you put yourself in a tight box and then watch how you MacGyver your way out.
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And so, that's really what this business was.
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All right, so a lot of people watch this listen to this show because they want to hear us just tell them exactly what to do when it comes to starting or growing a business.
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And really, a lot of people who are listening, they have a full-time job and they want to start something on the side, a side hustle.
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Now, a lot of people message Sean and I and they say, "All right, I want to start something on the side. Is this a good idea? Is that a good idea?"
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And again, what they're really just saying is, "Just give me the ideas."
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Well, my friends, you're in luck.
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So, my old company, The Hustle, they put together a hundred different side hustle ideas and they have appropriately called it the side hustle idea database.
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It's a list of a hundred pretty good ideas, frankly. I went through them. They're awesome.
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And it gives you how to start them, how to grow them, things like that.
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Gives you a little bit of inspiration. So, check it out.
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It's called the side hustle idea database.
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It's in the description below. You'll see the link. Click it. Check it out.
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Let me know in the comments what you think. All right, next.
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All right, I tried to start a biotech company with this billionaire [clears throat] in Australia. Um Uh wait. Uh uh How old were you?
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I was 22 21 years old, 22 years old at the time.
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Was he um uh like a criminal?
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No, he was not a criminal. Stand-up guy.
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Not a Elizabeth Holmes type of person. No, no, no. He was super legit.
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He had just so He wasn't a billionaire, actually.
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He had just sold his company for $450 million and he had a non-compete, so he had a lot of money.
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It was his parents' company originally, so he had a chip on his shoulder.
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He wanted to prove that he could do it.
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So, the guy had cash, a chip on his shoulder, and he was non-competed out of the business he knew, so he had to do something new, and biotech sounded really interesting.
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And you were And I was I'm making it sound like you're a dummy, but you actually graduated from Duke and you were a biology major. Yeah, you Okay, okay.
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>> So, it's not like you were just like a dumb e-commerce bro.
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You you actually >> was some stupidity in this.
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So, I thought, I'm a bio major, I should do something in bio. Okay.
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>> Honestly, what you studied in college means very little here.
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It's not like I truly had a passion.
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Yeah, but you like took a class at least.
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Yeah, I I I used the wrong heuristic.
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What I really should have done, which was smart, was I got around smart people.
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So, this guy was a really smart guy, and working with him was actually really cool.
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So, like that was actually much more important than the biotech link.
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Now, what did we try to do?
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We tried to create a biotech company where you could take coal that was too deep to mine, unminable coal.
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I don't know if you know, like 90% of the world's coal is unminable, it's too deep, too uneconomic to mine.
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So, the idea was there was little microbes that would go down and eat the coal down there, and they would like basically fart out natural gas, you could just collect the gas without mining the coal.
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Kind of a cool idea, unproven if it could actually work.
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I got this opportunity because he was reading our blog.
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He read our He met my dad and my He asked my dad, "What do you What do your kids do?"
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And he went and checked out our blog and thought it was cool.
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He thought it would our hustle was cool.
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And it was kind of the first time that content or building in public, like doing a portfolio, mattered more than a resume.
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And that has now become like very true in 2025.
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Back then, like I didn't intentionally do that, but it really worked.
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I failed forward in that way, and I used content to kind of create opportunities.
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The second thing that happened was when I got there, I realized, "Oh, wow, I don't know anything about oil and gas industry.
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I don't have no experience."
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And at first, I tried to like catch up.
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But how are you going to catch up to like 20 years of this guy's experience? Very very hard to do.
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And so, I had a different idea, which was instead of being the worst in the room at the thing they're all good at, how do I become the best in the room at something they don't know how to do?
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And so, we started me and my buddy Trevor, we started learning to animate videos to take their ideas and turn it into like a 1-minute video that they could show their, you know, investors or their prospects or whatever. And they loved it.
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The owner was like, "Oh, my video guys, yes!"
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Like cuz you're making me look cool. You have a new power.
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You're got You guys are good with computers and [ __ ] So, like we found a way to like bring something to the table.
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So, rather than like focusing on our disadvantage, we tried to figure out what's our advantage.
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So, that was like a lesson that I, you know, took forward from that.
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But overall, I give this business a C cuz it didn't really work.
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The business didn't really work.
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And you know, made like 120 grand a year as like a job essentially doing this. >> Where's he?
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He's uh still in Australia, still doing his thing.
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I haven't talked to him in a long time, but I hope he's hope he's doing well.
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Lesson, earn your spot at the table, it's kind of the thing I just said. All right.
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Making the next billion-dollar app.
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So, I tried to basically this was a period of life where I tried to make the next billion-dollar app, and so it was like 12 different apps I tried.
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I tried We made this like Clubhouse-style app where people would get on and hang out in these rooms and talk all night, and it got to 4 million users, and we thought we were doing it.
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This is the next big thing, but we couldn't grow from there.
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It just kept It just stayed at 4 million.
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4 million is a big number, but a social app needs like 100 million.
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So, we were playing this like very difficult game, and it wasn't really working.
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So, I used to use Blab, and for those listening, this was back when Martin Shkreli was like in his first up-and-coming scandal.
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>> [laughter] >> No, no, he had just gotten out of jail. Had he?
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I thought that was >> he was on trial cuz I remember he did a Blab from the courthouse back home and like in the courthouse, he had pled the fifth, but then he got on Blab and just started talking [ __ ] and we were like, "This is incredible."
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>> like Yeah, this was pre-prison, and he was basically on the uprise in terms of notoriety because farmer bro, that was when the photo of him like sitting back like smoking a cigar, and you could just hop on and talk to him.
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And it was kind of funny.
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It was kind of like the beginning of incel culture a little bit.
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>> [laughter] >> My legacy. I mean, wasn't it?
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>> [laughter] >> It It was, you're right.
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I also tried to build a a beer app where you would check in new beers.
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This is a giant mistake because a I didn't even care about craft beer, so why am I trying to build something for other people who I don't even really It's not like scratching my own itch.
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We built a messaging app that got to number three in the worldwide charts, I remember, above Facebook, which was kind of incredible, but had no retention.
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Incredibly viral, but no retention.
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I think we got a million users in the first week or something like that, and then a month later, we had like, I don't know, 10,000 users.
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Like they were all gone, basically. Huh.
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What was that one called?
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Oh, that was called Bebo Messenger.
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So, this business, I would give >> [laughter] >> a B, and our profit was minus $8 million of investor capital.
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So, we basically were burning something like a million and a half dollars, maybe 2 million dollars for four or five years.
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And that was called Was this all under the umbrella of Monkey Inferno? Yes.
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So, this was, you know, playing the wrong playing a very hard game.
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I felt like I was running around with a bottle trying to catch lightning.
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Since then, I have done the exact opposite.
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I now look for the most straightforward businesses that are, you know, still fun to do, but I think have a high high shot of success because I was so scarred from this.
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It's pretty magical experience, though.
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You You met We met so many I met them via you, but you met so many amazing people in Silicon Valley.
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Like, you know, we told the story 10,000 times.
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The Calm app founders were were at your office all the time. Yeah.
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Moiz and and and Ryan Hoover and Sieva.
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Like it was amazing people.
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Met amazing people and learned a lot.
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So, my lesson here from Sean the elder is I asked the right question.
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I said, "Where can I go that will give me 20 years of experience in the next four?"
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I basically took my 20s as a period for adventure and learning and not earning money.
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I remember when I got this job, they told me how many shares I had.
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They were like, "Oh, yeah, you got the I think I was making 120k a year when I joined, and then they said, and it was something like 40,000 a year of stock in the Monkey Inferno like portfolio.
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And he was about to tell He's like, "That represents" He was about to tell me what percent that was, and I had already seen like kind of like I'd seen in the tech industry, if you join a startup, you might earn like 1% or less of the You don't You don't get more than 1%. You get like 0. 4%, 0. 5%, 0. 6%, 0. 2% of the company.
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And that just sounds like a minuscule number, but I wanted to go there and treat this like it was my own startup.
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So, I remember telling him on the phone, I did the like finger to the lips, and I was like, "Don't tell me out of how many shares. I'd rather not know.
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I want to work like this is my company. Like I own 100% of this.
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That's how much I'm going to care."
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And he was like, "Good answer."
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That the benefit that came out of the the kind of the takeaway was I never went and asked for Actually, that's a lie. I asked one time.
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But I I didn't really go back and ask for more for a while, and if you pick the right people to work with, they will reward you based on what you're what the what value you're actually creating before without you needing to ask.
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And so, I went from It turns out I had 0. 4% at the time.
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Then he bumped me to 10%, and then over time, I got to 20%.
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I owned 20% of the company by the by the end of the of the deal.
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Or sorry, of that of that thing.
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It didn't end up mattering in because of the way the structure of how we sold the company, but I did take away that of like, "You know what?
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Just go there, try to learn, do as best work as you can, and like let the chips fall where they may."
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And I think that was the right approach.
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All right, what do you got now?
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The last business before This is the one where I ended up, you know, actually making money, which was that At some point, we were like Fortnite had just come out, and we were like, "We should ride a wave of something that's popular."
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So, we took Fortnite, which was popular, and we had this idea, which was, "Hey, you know how there's youth sports, you know, Little League baseball, youth soccer, stuff like that?
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Like you know, more people play Fortnite than play basketball, right?"
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I was like, "Wow, that's kind of crazy."
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He's like, "So, why isn't there like a league you can join as a as a teenager to play this with other people and have it live-streamed and all that stuff?
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Like it should be just like youth sports."
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And so, we created like our version of youth e-sports, basically.
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And it was an app, and then that was And we built the largest high school Fortnite league in the country, and then we got acquired by Twitch, and then that was the kind of the big win.
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The I turned 30, you know, crossed the million-dollar mark, made a few million dollars, and was like, "Yay! This is amazing.
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That 10 years of sucking was was worth it."
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And so, that's my that's my story there.
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You had so many more interesting like near near misses or near hits.
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So, the Stripe one was crazy.
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When I was running So, I I had a I had a thing a startup that wasn't working, and then we ended up getting like aqua-hired.
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And when it wasn't working, I went into I went and applied at jobs. I applied at Uber.
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I I applied at Google and shockingly got like an interview. I got one interview. I applied at Facebook.
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Obviously, they didn't call me back.
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I applied at ZeroCater and EasyCater.
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Do you remember those companies? Yeah, they were hot.
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Those were really hot at the time.
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>> These were all the hot companies.
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I wanted to be an Uber launcher, it was called, like you go to city to city.
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Dude, you would have been so good at that.
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That was a miss on their part. Yeah, screw you guys.
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>> The Google Facebook one, I'm like, "Yeah, I think maybe the the the recruiter did well to like kind of like I don't think you were the fit for that."
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But dude, if you worked at Uber and you were like a city launcher, you would have crushed. >> I think so.
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And so, it was It's fun to look back at like all the I I actually the way Jack Smith, one of my best friends, I applied at Vungle. That's where I met Jack.
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I applied at his company, and they didn't He didn't hire me.
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Uh But the consolation was he's like, "I'll be your friend."
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>> Yeah, we became friends, but he didn't hire me.
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So, you're an idiot, but you're a good hang.
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Wait, did Jack say why he didn't hire you, by the way?
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Dude, his co-founder was in charge.
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His co-founder was like was like this all-knowing kind of smug guy, who's now my friend, too, Zane.
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But he was like, "So, you think you're good at sales?
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Go around the office right now.
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Leave our little room right now, and I want you to go and talk to every single person in that room right now and convince them why we should hire you.
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And it was so demeaning and I did it and I did not get it.
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I did not I guess I did not convince them.
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>> Dude, I had to do the same thing at Monkey Inferno to get the job.
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Did I ever tell you this? >> No.
20:03
So, they were like, "Okay, you clearly don't know anything about technology.
20:07
You're not an engineer, you're not a designer, you've never worked in tech.
20:09
So, like, we really like you, but we don't really know what the hell you'll do and we all just keep saying like, 'Yeah, he's a real hustler.'
20:16
And um so, can you do some hustle?
20:19
Like, how would you hustle today to add value to what we're doing? >> Hustle now.
20:23
>> like, "Can you show me that hustle thing?"
20:24
And I was like, we're just sitting in a conference room.
20:25
And so, I was like, "Yeah, I got you."
20:27
So, I was like, [laughter] "Hey, you have this app that you're working on.
20:32
I'm going to go get you customer feedback like now."
20:33
And they're like, "Okay, how are you going to do that?"
20:35
I was like, "And on my way in, I had flown into San Francisco for this, but I I was killing time before the interview and there was a Burlington Coat Factory, if you remember, right next to our office and next to it next to that was the Westfield Mall.
20:46
So, I was like, "There's a mall, right?" They're like, "Yeah."
20:47
I was like, "I'm going to go to the mall."
20:50
So, I go to the mall and the guy comes with me and he's like, "I'm going to observe."
20:54
And I was like, "Oh my god." >> it? Michael? This Paul way to know. The CTO came with me.
20:58
So, it was like the most introverted engineer was like, "Let's see what this guy can do."
21:02
And so, I go and I've never done this.
21:04
I'm like, I'm I can't I don't have a product to sell.
21:07
I was like, "I'm going to get like feedback, I guess."
21:10
And so, I was like, "I'm going to cold approach like a pickup artist at the mall, random people, and try to get them to come over this table and give feedback on our app."
21:18
I was like, "How the hell am I going to do this?"
21:22
And then I realized the easiest hack.
21:22
I just went to them and I go, "Hey, I'm on a job interview right now and I get the job if I can get people to come over this desk and just give 5 minutes of feedback.
21:30
Would you do that just so I can get this job?"
21:31
And they're like, "Yeah, no problem."
21:32
And I was like, "That was so >> [laughter] >> That was like This is so much better."
21:36
Cuz the first three people I approached, I was like, "Hey, have you ever been um have you ever had to plan a party and needed to use an online invite planner?
21:44
Like, I have a new one coming out in 6 months and I would love your feedback."
21:48
And they're like, Get away from me.
21:49
They like give you they're like Aunt Annie's like a rapper.
21:53
Can you throw those away, please?
21:55
>> [laughter] >> Exactly.
21:56
I should have been like the guy in the bathroom who like pulls the paper towel out and hands it to people.
22:02
>> [laughter] >> That would have gotten me more success than what I was trying.
22:04
So, just just switching to like, "Dude, there's like a camera following me right now and I'm screwed if I don't do this."
22:09
I whenever I see reality TV, I'm like, "Why don't they just say that?" That works way better.
22:13
Anyways, that's >> my point being my point being is for a lot of people in these situations, where that thing's just not working, going to ask for a job, A, it's normal.
22:19
B, it's incredibly mortifying because you're like, "Shit.
22:23
I'm supposed to be this guy who has this business.
22:26
I put all my identity into it. Now, I'm applying. It feels weird.
22:29
It feels like I'm comfortable." But we've all done it.
22:30
And you did it in one company that uh well, it just adds to the list of screw-ups.
22:37
>> [laughter] >> So, in 2011 or 12, before the Monkey Inferno thing, I only applied to one other job and it was this company called Stripe that I thought was going to be maybe a good company, maybe a good startup.
22:48
And uh I think it was maybe valued 100 million or less at the time. >> Oh my god.
22:53
It's now almost I don't know what it is now. It's 100 billion. 100 billion.
22:58
>> So, so you know, I did the math a few years ago and I was like, "Wow, my entry-level sales type of job would have made me like 20 million dollars if I held." And that was then.
23:06
It's probably doubled since then. So, I did what you did. I applied to the job.
23:12
I didn't know how to do it.
23:12
It was my first job interview ever.
23:13
Didn't know how to do it.
23:15
And um I uh I had a layup, dude.
23:18
Cuz my mentor That guy John Pendergrass I mentioned from the sushi thing?
23:21
He was the mentor of the guy hiring me. So, I asked him.
23:24
I was like, "Yo, can you put in a word?"
23:26
He put in the strongest word.
23:27
He was like, "Yo, this guy's This kid's amazing. Yeah. Hire this kid. He's an entrepreneur.
23:32
You're lucky he's even applying for a job."
23:34
He gave me like such a strong intro.
23:35
I don't remember what it was, but it was I remember thinking like like, "Layup.
23:39
Like, this is like so easy. Oh my god."
23:41
And that bit me in the ass.
23:43
That attitude cuz I got on the call and the guy was like, "Hey, you know, he says great things, but I just want to, you know, ask you a few questions."
23:52
And I just started bombing the interview and to the point where he gave me the the sort of sell me this pen exercise.
23:58
And brother, I did not sell that pen.
24:00
>> [laughter] >> He didn't buy?
24:01
That pen That pen stayed in my pocket.
24:04
It did not >> [snorts] >> fly off the shelf.
24:05
What would your answer have What If you look I'm sure you like replayed it in your head a 10,000 times.
24:10
How would you have >> No, I was so traumatized.
24:12
You know, I'm like, "I'm a student of the game of life. I love to learn." Not this one, dude.
24:17
I just buried that [ __ ] deep down and moved on with life.
24:19
I was like, "Sometimes you just take the L on your soul and you just move on."
24:25
Uh do you So, I was thinking about this the other day.
24:27
Do you do you agree with this where you know, we we just summarized 10 years of your life in 38 minutes and we laughed about it.
24:36
But A, it's not funny when you're going through it. Incredibly unfunny.
24:40
You it feels like the worst part is you're comparing yourself to your friends, right?
24:44
And you're like, "Why is this so much easier for them?
24:46
Why are they getting this and that?"
24:46
And and that like eats you.
24:48
That like turn green with envy.
24:50
But the second thing is like you do it for 10 years and then all of a sudden in like the 10th, 11th, or 12th year, you look back and you're like, "Oh, it's kind of working."
24:57
And then it feels like slow progress, slow progress, a little bit better progress and all of a sudden you snap your fingers and it's like, "Holy moly.
25:05
Like, I've just grown so much."
25:07
It's it's like I don't know if you ever like when you when you've been getting fit where it's like, "I feel nothing. I feel I I feel nothing. I feel nothing."
25:12
And then 8 weeks pass and finally you're like, "Oh man, I think I I feel my stomach.
25:16
It definitely feels different today."
25:17
And that's the new baseline.
25:19
And so and so it's what I guess what I'm getting at is it's months or years of hard work and then overnight you feel progress.
25:25
Yeah, slowly and then and then all at once.
25:29
So, I just gave you I just gave you 10 years and I think in truth cuz I fast-forwarded through some of the apps we tried.
25:36
We tried many apps in that like app phase.
25:37
So, I I think I did 12 different failed companies in the 10 years. So, 0 for 12. 10 years. Brutal. In the I'm 37 now.
25:49
In the 7 years since, I think I've gone like five for five.
25:55
Everything has worked right away and I don't know.
25:57
The portfolio of the companies where I own either majority or or or just a huge chunk is probably close to 100 million in revenue now.
26:08
And I think it's 75 million in revenue.
26:12
And the feeling is so different not just because it's successful, but because like you just It's like a route you know how to drive.
26:21
You just know what potholes to avoid much better. Still hit some, right?
26:26
Like, it's not like you're you're foolproof, but like man, the hit rate going from 0 for 12 to 5 for 5 in the last few years is so different. It's unbelievable.
26:34
What allowed you to go from five for five and 75 million in revenue?
26:39
So, project selection is the first one. All right?
26:42
Cuz I tried Look what Think about what I tried.
26:43
A restaurant, this like innovative biotechnology that's like a science project.
26:48
I tried creating the next hit app, the next billion-dollar app, the next Twitter, the next YouTube, the next Facebook.
26:55
Like, we launched a messenger, we launched like a social network.
26:56
We like Those are just one-in-a-million type of success ideas.
27:03
So, the odds were against me even if I was good at executing and I wasn't.
27:05
So, I was like bad at executing and then trying these like moonshot things that I really didn't understand what the hell I was getting myself into.
27:12
Whereas since then, I chose projects that were like way less risky.
27:18
You know, like I kind of understood how to do them. Uh high hit rate. I just need to execute.
27:23
You know, so I did an e-commerce company.
27:25
I did um you know, a services business.
27:28
I did an you know, we have somewhere. com.
27:30
It's like a overseas staffing business.
27:32
Like, every company needs to hire people and I in my own businesses was hiring a ton of people overseas.
27:39
It was like a no-brainer.
27:40
It was or it was a business I was already working.
27:41
I bought into it and helped grow it, right?
27:43
Like, that's just like a much more foolproof way to do things.
27:47
So, I So, project selection was number one.
27:49
Stop chasing these like moonshots that if they work, you make a trillion dollars and you get to have a movie about you, but most likely are not going to work.
27:56
So, I stopped doing that.
27:58
I stopped playing the like Silicon Valley dream.
27:59
Um the second thing was more action, less planning.
28:07
So, understanding like what amount of research and planning is helpful and at what point you need action because action produces information.
28:15
And I told you kind of in the first startup, we spent 9 months basically in the planning phase.
28:18
And that was a huge mistake.
28:20
We didn't confront reality of the business.
28:22
I remember when you started Hampton, before you ever announced it, you showed me your calendar and we called it the zebra calendar cuz it was just 20-minute stripes on the on your calendar on your day and it was just calls with founders and you were like personally selling.
28:35
You could have offloaded that.
28:36
You could have launched the business.
28:38
You could have done any number of things, but you were like hand-to-hand combat selling to try to figure out like, "Yo, does this is this something people want?
28:44
And what message what version of this what message of this actually like gets me that kind of like real quick yes reaction versus like people just being polite to me."
28:53
So, going for action rather than planning and knowing knowing when to use which gear was that second thing.
28:58
And third was just like pay attention to what works, uh get around really smart people, and pay attention to what works cuz success leaves clues.
29:08
Do you think um Okay, so you're 37 now.
29:11
First of all, would you have predicted When did you sell um Blab? Bebo?
29:15
2019, something like that.
29:18
So, that was 6 years >> 2019. 6 years ago. So, it was 31-ish.
29:22
So, let's just say that uh was 6 years ago. Let's round up to 47.
29:24
Well, first of all, at 30 or 31, did you think you were going to be here where you are at 37? No way.
29:32
Where did you think you were going to be?
29:34
I thought, "All right, I'm going to earn out this deal.
29:36
You know, I get every year we we vest."
29:38
I was like, "I'm going to do 2 years of that deal." Which is what I did.
29:42
I did 2 years of the deal.
29:45
And then I'm going to go start another company and this time I'm going to start like a you know, if this one sold for tens of millions, the next one I'm going to do is going to be hundreds of millions or billion-dollar company.
29:52
I still didn't really understand what to do.
29:54
But the beauty of the situation was because I was earning out my deal, I couldn't go start another tech company.
30:00
It would be like they'd look at me and be like, "What the hell are you doing?"
30:03
So I was forced to do things that were dead didn't look competitive that didn't they I was forced out of my comfort zone.
30:08
So like all I knew was start a tech company, raise venture capital type of type of deal, and go for the big shot.
30:15
When I was earning out the deal at Twitch, I couldn't do that.
30:17
So I started this podcast.
30:19
I was like, "Oh, I'll do this for fun."
30:20
And this podcast has turned into a phenomenal business and opened up all these doors.
30:23
Then doing the podcast taught me about all these other types of businesses that I then went and was able to be like, "Oh, that's a great that's a great way to do a business that doesn't require like getting super [ __ ] lucky.
30:33
That doesn't require like being the most competitive, you know, like most hardcore person."
30:39
Like you just do the obvious and it works. Um so like that was one.
30:42
I did the e-commerce business because I knew that that would not be seen as competitive um you know, by by people at Twitch.
30:48
So I was like, "Oh, here's a here's a business like you know, it's just kind of this like cute little like physical product selling, you know, it's like I created a brand, right?
30:55
And I don't talk too much about what that brand is on here yet.
30:58
I think I'll probably by the way, I think I'll do the reveal of that maybe this year.
31:01
You sell a prosthetic legs?
31:06
>> [laughter] >> Is that what it is?
31:08
>> Yeah, something like that.
31:11
So yeah, so basically I started doing other types of businesses not by choice but out of force because I was earning out the deal and I I couldn't do another tech startup at the time. Okay. Next question.
31:22
At 47, what do you think what do you think have you made predictions on where you'll be?
31:26
I think I'm just going to be doing creative projects.
31:28
I think I'm going to be writing books and making movies and doing this doing content and I'm going to just be all in as a creative person and like business will be secondary to me.
31:40
When will that shift happen?
31:42
Now, it's already happening. It's already happened. Yeah.
31:44
That's what I've been doing in the last year.
31:46
Um and so like that happened now.
31:47
I would say there's still like some vestiges of it cuz I still invest in businesses but I don't run them.
31:54
I don't start them and run them myself.
31:55
So that shift has already happened over the last >> you're done starting businesses? I think so.
32:00
I mean so I've I've basically only said like only if something like really just slaps me in the face.
32:05
Something that like I can't like I'm not looking for a business to start, which has been the mode I was in for 15 years.
32:11
>> And is that because you feel financially secure or because you feel emotionally secure? Uh I don't know. I don't know.
32:18
Like is it because like >> on the couch for this part? I don't know.
32:20
Like >> what I mean is like what I mean is like did you like discover this makes me happy, this doesn't make me happy? Yeah, yeah, it's that. This makes me happy.
32:29
Uh I think I'm better at this.
32:29
I think I'm a B+ entrepreneur, but I think I'm A+ at content.
32:32
Uh so like why not do your A+ thing?
32:34
I think doing content is now like an incredible way to make money.
32:38
So like you know, like we make great money here.
32:40
Like I you look at other content creators, they make a ton of money.
32:43
So it's like you don't have to do a company and then do content on the side.
32:48
Like you could just do content as your main thing and make you'll make all the money you want. Don't worry.
32:50
And the last thing is it's kind of like the test of what would 20-year-old me think is dope.
32:55
And I remember thinking this at the time was like, "I think a cool version of a career is like these five five-year arc, seven-year arc type type of chapters where you just go do like really creative endeavors.
33:04
You're like, 'Oh, I'm going to like I'm going to go and try to like do stand-up for a few years.
33:09
I'm going to do I'm going to go try to make a TV show that I think is cool.'
33:12
That version of life if I look back at my resume, I'm like either I just kept starting businesses like tech companies and or businesses and I already have more money than I need.
33:24
I made even more money that I didn't need versus like, "No, I started going and trying to make dope stuff."
33:29
Like I had the creative challenge of that and yeah, I actually made that show and I made this musical and I made this book and I that to me seems more of an interesting life and so I'm just more attracted to it.
33:37
I think every not every I think many entrepreneurs go through this period.
33:41
I mean I've I've I'm I'm in the thick of it, too, where you you you try to get paid, you try to feel secure, you try to feel accepted.
33:50
You get a little bit of that or maybe get a lot of that.
33:52
And then you go through the phase of what I call the second mountain, which is like what else is there, you know?
33:58
And that's when you see a lot of people get obsessed with like beautiful things or art, in your case content, which is basically art, or I just like interesting ideas where before you're like, "Ideas ideas are worthless."
34:10
And then you're like, "I don't know, man. Just talk about ideas."
34:13
That is actually exciting.
34:14
Or being around like pretty things, that's exciting.
34:16
Can I give you an example of someone who I think is is a has done did both?
34:20
So Joe Gebbia, friend of the pod one of our one of our our our our guys that we were a big fan of. So he started Airbnb.
34:29
Obviously colossal success, you know, like grand slam type of success.
34:33
>> Like he's the 96th richest man in America.
34:35
Yeah, and uh household name, blah blah blah. Great. Did that.
34:41
Still pretty young, right?
34:41
So he's like, "All right, I I'm I'm not like dead. What am I going to do?
34:44
What am I going to do now?"
34:45
And so he was like, "What's the second mountain?"
34:48
So I remember going out to dinner with him once and he was telling me about um what he was doing next.
34:54
Do you even know what he did next after Airbnb?
34:55
Do you know the next thing he did? Was that the museum? The architecture thing? No, no, no, no. He um has a company. He has another startup.
35:04
Do you know what his startup is? >> the the um ADU thing. Exactly.
35:05
So he created this company.
35:08
I don't know how you pronounce it. Is it Samara or Samsara? I think it's Samara.
35:12
>> Yeah, it's basically they raised $40 million and I believe what it is is you can spend 50 to $100,000 and they will give you an ADU, meaning a guest house basically in the in your backyard.
35:25
Backyard guest house, in-law unit, ADU, whatever you call it.
35:28
And beautifully designed cuz he's a designer.
35:30
So like, you know, a lot of times these ADUs look very cookie-cutter, cheap materials, like poorly made.
35:37
He made like a really nice one.
35:39
Like one you would that like adds value to your house aside from whatever rental income you might be able to get out of it.
35:44
So he creates this company and he's doing it and when we went to dinner I was like, "Dude, the product looks awesome.
35:49
I want one of these in my backyard.
35:50
But at the same time like, dude, why are you doing this?
35:53
You have all the like you've all the money you'll ever need. Um you made it.
35:57
Like why do the grind again?"
35:59
Cuz he was like, you know, having to think about SEO again and how do we how do I how are we going to grow this thing?
36:04
And I was like, "Oh, dude, all the pain of doing a company. Why are you doing that?"
36:09
And you know, he said something at the time.
36:11
He said you know, he said he said a good answer.
36:12
But one of the things he said was like, "You know, I want to prove that it wasn't luck.
36:14
I want to prove that I could do it."
36:15
And I remember in my head, I didn't have the guts to say it, but I was like, "Man, what a dumb answer."
36:19
Like there's nobody out there who's like, "You know what, Joe? You just got lucky."
36:22
And I'm like, "And even if there were people who said that, who cares?"
36:26
But dude, nobody thinks that.
36:28
Everybody only thinks Airbnb is incredible.
36:29
What you guys did is absolutely incredible.
36:31
But he had this kind of like, "Maybe I need to prove it again cuz what else do I do?
36:34
I get where else am I going to get motivation, right?"
36:40
>> I I did I totally I think most people have that feeling. I had that feeling.
36:43
So I remember hearing that and be like, "Oh, man, like I wish I could like go into his brain and find that line of code and be like, 'Oh, you have a bug here.
36:50
Let me just bug fix patch.
36:50
Boom, you're better now.'"
36:52
Um but I did you know, I whatever.
36:54
So he but now what is he doing?
36:57
So he basically is So he did that and somewhere in the middle he got pretty inspired by Doge.
37:00
He's friends with Elon, like all that stuff.
37:02
He goes and he joins the administration and he's he starts with a very simple project, which was like the retirement process for government workers was like a six six-month to what 18-month process.
37:12
Like you could just you couldn't just retire, get your papers, and move on with life.
37:17
It was like "Hold on, a guy needs to go into this cave and find your paperwork and like it'll be a year and we'll get back to you."
37:24
And so he was like, "I'm going to just solve this problem."
37:25
And I'm going to solve it well.
37:28
I'm going to design a product.
37:29
I'm going to make the government product stuff work well.
37:30
And somehow that's turned into he's now the chief design officer of the United States of America.
37:38
And I'm like, "Wow, what a inspired second mountain like creative endeavor has an impact, grand scale, um so cool."
37:47
Like you created a role that didn't even exist but it's so perfect for you.
37:51
You know, like he's proud uh and he's wants to serve.
37:56
He's proud and he's extremely talented designer.
37:58
I'm like, "That's the type of second mountain that's awesome."
38:01
I think his ADU company is cool but I just felt like more inspired personally by the kind of the new thing that he's doing more so than when I first heard, "Oh, I'm just doing it going to do another business and try to create another billion-dollar company, you know?"
38:14
>> Well, the other thing that he did was there's these famous um designers, Charles and Ray Eames or Eams. Is it Eams?
38:19
You know, they make the famous chair, the Eams chair? >> Eams, yeah. >> Yeah.
38:23
Uh it was a husband and wife couple and they were prolific designers and I think they lived in Arizona and they had like their home, which was famous, and it was full of like their prototyped furniture and things like that.
38:33
And I think he also bought all of it and restored it just as a uh preservation uh thing.
38:37
And so he's done a he's done a bunch of stuff.
38:41
I I I don't quote me so you guys will have to Google this to get everything right, but something like that where he's like uh preserving history of these two designers.
38:48
And so he's done a bunch of this like second mountain stuff that I think really I I admire.
38:53
I'm um I'm a bit >> thoughtful guy.
38:56
I really admire like a lot of the way he approaches work and life.
39:00
I think he's he's a very kind of like principled and thoughtful person.
39:05
And I think I like that because I I find that I'm less principled and thoughtful than I I wish I was.
39:09
And so when you see somebody who's like very on that end of the spectrum, it stands out.
39:14
>> But let's bring this back to you because I actually think this is like A a revelation and B quite inspiring.
39:18
I think that this is I personally am quite inspired by this thing that you're saying.
39:22
Now, I uh will be extra inspired if you actually follow through on this for a couple of years because it because it sounds like amazing now and if you follow through on this, you will be my hero.
39:32
And the idea being you're kind of another way of saying you're retiring a little bit from business and focused on purely on creative, which that's not entirely true because the creative things you do will make money, but you're not like seeking money for money's money's sake, which is what most people do when they go into business, and I think that that's really, really cool. I think it's inspiring.
39:51
And when you say these things, you sound A, more confident, and B, more happy than you have in the past. Does that sound right? 100%.
39:56
Um I I have this framework called your last dollar. Have I told you this?
40:01
Y- is that the one where you have that really cool line of um you've already earned the last dollar that you're going to spend?
40:08
Yeah, you've already earned the last dollar you're ever you're ever going to spend.
40:10
So, there comes a point, cuz people think about these ideas like, I want to be rich. How rich? What's rich? What's rich to you? I want to be wealthy. What's wealthy?
40:18
I want to be um I want to be financially free. Free you to do what?
40:22
What are you not free to do today?
40:24
Maybe you could actually do a lot of those things today.
40:25
So, I think people are money's this like very big motivator.
40:30
You're ashamed to talk about it, and then you actually don't put a lot of thought into it.
40:34
And man, that's a what a shame, cuz it's driving a lot of your decisions.
40:37
I'm going to ask you a question, and you don't have to don't say a number.
40:40
Only say what you're comfortable with.
40:41
But like, for example, for me, rich is I define it as two ways.
40:44
One, your your ability to spend 3% of your liquid net worth.
40:47
So, if you have $10 million, you can spend $300,000 a year.
40:52
Another way I define rich is your passive income, so just from your investments pays for your life.
40:55
So, do you have a definition for yourself on what rich is? Yeah, similar.
40:58
So, basically I said, if I want to spend half a million dollars a year burn rate, which I wasn't when I came up with this number, I was spending maybe five times less than that.
41:07
But I was just like, I had talked talked to my What do you spend? What do you spend?
41:09
What's Kind of like, if I went crazy, okay, no, I don't care about boats and planes, so don't worry about that side of thing.
41:15
You know, but just like, give me a sense.
41:17
Like, I do care about this type of [ __ ] and I don't want to have to worry about this.
41:20
And like, if I go to Disneyland, I want to do What's that thing you do where you don't have to wait in line? I like that.
41:24
I want to go to the Yeah, like, I just want to be able to do all that, and I don't care about some of these other things for now.
41:28
Let's just assume that to be true, and I wanted to live in California, so I rounded all the way up, and I said, if I'm spending half a million dollars a year as my like personal life burn rate, what do I need to be making in passive income, or the passive gains of my investments, to where that's like um not an issue at all.
41:47
Like, as long as my passive uh earnings are higher than my active burn, I'm free. Yeah, okay.
41:52
I don't have to I don't have to prioritize money.
41:55
And then you apply even some factor on top of that of like safety net, cushion, big swings, whatever.
42:00
And I I came up with a number that was like, cool, that's the last dollar I ever need to make.
42:06
And actually, this came because I met, you know, other people.
42:08
I did an episode of this podcast with my brother-in-law.
42:11
You can go see it, Sanjeev Chopra. He's a real estate guy.
42:12
And he's done incredibly well.
42:14
I'm a I was sitting in his like Vegas like mega mansion type of thing, and you know, he had just come home from driving to go see a property he owns in like Idaho or something, and he drove back, and he got back at 11, and then he was like up at 6:00 a. m.
42:27
the next day to like take his kids to school, and I was like, dude, you're really like grinding.
42:34
And he he had this goal of like, I want to, you know, make all this money, and I want to be able to buy the Raiders, I want to do all this cool dreams, right?
42:40
But I was like, the truth is, uh and at one point, he was talking about like, oh, I want to leave You know, my my dad didn't kind of leave me He didn't support me when I wanted to go do business.
42:49
I want to leave each of my kids like I think he said some crazy number, like $20 million.
42:52
I was like, dude, your kids don't need $20 million when they're 21 years old to go start a business.
42:57
You'll actually like poison their entrepreneurial career if you do that.
42:59
But like, I get the ethos.
42:59
You want to support your kids. I like that.
43:03
Okay, I I I totally get what you're saying.
43:05
And he wasn't like it's not like he was fixed on those.
43:08
These are just things that were bubbling up in his thoughts.
43:09
And I just remember telling him, dude, you've already earned the last dollar you're ever going to spend, and your kids are ever going to spend.
43:14
So, you're now throwing good hours after bad dollars. And that stuck with me.
43:20
I was like, cuz I'm trading good hours.
43:21
I'm trading good energy, right now. Life energy, right?
43:24
I'm trading good hours for bad dollars, cuz I don't need that dollar.
43:27
It has zero utility in my life at this point.
43:29
And so, that thought's there. Now, am I perfect? Am I a monk?
43:34
Have I like Do I just not invest in things?
43:36
Do I not have the itch sometimes like, oh, we could make this? No, I have that itch. I have that thought. I do make investments.
43:44
But so far, so good as far as like, I'm going to do projects now where the main criteria cannot be because I think it will be successful, or it'll make money.
43:52
It's like, I'm only going to do it because I think it's fun and interesting and a challenge to do if I'm actively the one building it, working on it.
43:57
That um I think that's a massive turn that you've made, because um I think that like, I've known you for this whole time, and there was this period of like, you wanting to be the man, which we all wanted to be the man.
44:10
You know, in Silicon Valley, that was like the point of us being there.
44:13
It was like going to Hollywood and seeing like who's going to get a role. Right, right.
44:16
>> [laughter] >> And uh then there was the period of like, okay, I like have a hit, but like, I still don't necessarily feel Why am I not Why am I not prominent? Like, you know?
44:25
Like, why Like, I I've gotten some wealth, but why am I not king? You know?
44:29
Or you also see that there's so many more levels.
44:32
And you get on this treadmill, which I I think I compared myself to others way more than you, and so I'm far more guilty of this of like, more, more, more.
44:40
You know, someone says um uh I think it was in the movie Wall Street, where they're like, how much is enough?
44:46
And the guy's like, oh, I know how much is enough. It's more.
44:50
That's how much That's how much it's enough.
44:51
But then you come with this other side of it, where you're like, nope, it is I know what it is is enough, and I have enough, and now I need to pursue like truth and happiness and all this wonderful stuff.
45:00
And I think that's like a beautiful message.
45:02
I think it's an amazing message, and I think frankly, I think I need to hear it.
45:06
And I think if I need to hear it, I think so many other people let's do need to hear it, because I think I'm far more a normie in terms of self-comparison or comparison others and jealousy and all that stuff.
45:16
And so, it's very refreshing to hear you say that, and you sort of I think your Uncle Sean stick is kind of lame, but in this case, you are my Uncle Sean.
45:26
>> [laughter] >> Like, this is the this is this Straight to the heart.
45:31
You're you're 36 You're 37 years old.
45:33
You got to be at least 45 to be an uncle. Okay?
45:35
I'm trying to I'm trying to grow this gray beard.
45:37
>> [laughter] >> You're you're 37.
45:38
You're still like You're still like a child. >> old to be a hot guy.
45:42
I'm too young to be a cool old uncle.
45:46
What am I >> supposed to be doing right now?
45:46
Yeah, you're you're you're in the the awkward middle.
45:49
But in this case, I do feel like you are like frankly teaching me.
45:52
I feel I feel like this is a bit of a mentor-mentee uh situation, and and for that, I'm I'm very thankful, because I do think this is quite magical.
45:59
I think if you're listening to this, and I think if you're 24 years old, you'll think, Sean, you're an idiot. What do you know? I need to get rich. I need to do this.
46:08
You're so fortunate that you get to this. Like, what the hell?
46:10
And to that, I say, go and find it out for yourself, but I do think that I have seen, you know, both of us have seen a lot of wealthy people, a lot of successful people.
46:20
What you are saying is 100% the best path of like, get what you can, and then reflect on, do you actually need more, and pursue what truly makes you happy, versus more, more, more, more, more.
46:30
Because I'm telling you for a fact that virtually 100% of the people that go down that that route are unhappy.
46:36
Things that I'm sure of, and things that I'm not sure of. Here's my list. Things I'm sure of.
46:41
In your 20s, if you're smart and ambitious, just prioritize getting around the smartest and most ambitious people you can that you like to hang out with, right?
46:49
You got to like them, too.
46:51
Um prioritize things that sound more interesting, rather than things that sound more likely to succeed.
46:57
Um and be cool if something gives you a lot of learning and not a lot of earning, cuz don't worry, you got time.
47:02
That's what That's one thing I know about my 20s I that that I think is pretty universal advice. It wasn't just for me.
47:07
Another piece of universal advice I think that's in your you know, the early entrepreneur phases is like, dude, if it it's okay if it takes 10 years, cuz you only got to get rich once.
47:15
And at the time, sure, I dude, I wish it happened earlier, and I would did not enjoy going over 12, and I did not enjoy that it took 10 years.
47:21
But like, that's fine to get rich at 30.
47:23
It's actually like no problem.
47:24
I actually that that works really well, and it's you're very it's very hard to predict if you're going to get your first business idea to work, or get rich in when you're 24 years old.
47:33
But if you commit, and you're going to iterate, and you're going to be good at learning, you will probably get there.
47:38
Like, you you flip your odds from like 10% chance of success to 80, 90% chance of success, which is as good as you're going to get.
47:45
>> Yeah, as long as the timeline is is long enough, at least 10 years, it will work. Exactly.
47:48
So, I'm pretty sure of those two things.
47:49
I'm also pretty sure that you should be more thoughtful and more honest with yourself about money and what you're actually going to prioritize, and where if there is ever a stopping point, or not a stopping point where you just stop try stop making money, but you stop prioritizing that as like the decision-making thing of what what what you're going to do next with your time and energy.
48:07
So, I think people should definitely think more about it.
48:09
I find very few people that are actually thoughtful about this, and have done the kind of like the asking themselves enough questions to be clear.
48:18
Um Now, will everybody land at the same answer as me? No.
48:20
I think there's tons of people who actually want more.
48:24
They're going to affect change.
48:25
They do want to own the Raiders.
48:25
They do want to like be a titan, and that is the thing that's going to make them happiest.
48:31
It's just not what it was going to make me the happiest.
48:32
I had to ask myself like, it's like I'd been ordering this burger, and it was like, yo, like, do I even like pickles?
48:39
Like, who Why do I keep ordering this burger with pickles?
48:41
Like, I actually don't like pickles. Get this stuff off.
48:44
And so, I had to kind of like kind of just borrowed off-the-shelf goals, and getting more clear about like, what actually would be a dope life to me?
48:53
And for me, it's this like every 5-7 years, I do a bunch of creative endeavors, I make [ __ ] I'm going to go try to like succeed in these different areas.
49:00
The variety is the spice of life type of [ __ ] That's me.
49:02
But like, that wouldn't be it for someone else.
49:04
So, that part is not universal, and like, making art is not universal.
49:08
So, like, you know, that part I I wouldn't really put on anybody else.
49:12
I kind of feel bad that I gave your heart down with Uncle Sean thing.
49:15
I didn't mean it that way. I was only teasing.
49:16
But I so I want I want to [laughter] because because >> Don't worry, no offense.
49:20
The the reason I want to take that back >> Mouse shirt, bro.
49:23
Like No, the Let me Let me say I I want to be serious.
49:26
The reason I want to take that back is basically, if you want to get rich, go listen to Sean's previous episode that was titled how to get rich without getting lucky.
49:34
That's virtually perfect for everyone who has less than a million dollars.
49:36
But if you have more than let's say $500,000, if you make more than $250,000 a year and you want to be happy, the last the second half of this episode is the number one thing you have to listen to because I'm going through exactly what you were discussing now and this made me feel better and this has inspired me.
49:52
And so the second half of this episode is probably one of the best things that I think you've said all all year.
49:57
And I I don't know if you made up this second mountain thing or that's a book or something like that, but >> I think I've been feeling that way and I heard it via I heard that phrase I think via a book.
50:05
I think there was a book called Second Mountain which everyone has said is great.
50:08
Yeah, so I think what what me and you are talking about is like second mountain stuff.
50:14
This wouldn't have been the right message for us when we were on our first mountain. Um like you're saying.
50:16
So you know >> I was 23, it was how do I make $2,000 per month? That's all I need.
50:23
Just tell me what to do, you know?
50:25
>> you come to my office and you did a copywriting one-day workshop with Neville and you guys made $10,000 and I thought I just watched Ocean's 13.
50:32
I thought I saw a man rob the bank and I could not believe what just happened in front of me and I felt like such a loser that Sunday that I was like Dude, that guy just came here and just talked to like 30 people about copywriting. It was cool.
50:48
They were happy and he made 10 grand for that this Saturday.
50:52
And I just looked at myself like you're a little piece of [ __ ] If you What are you doing?
50:56
You don't even have Then I went and a lot of money. You know.
51:03
Took me 10 years, but later I was like, oh yeah, that's good.
51:06
a substantial amount more in a weekend.
51:10
So it kind of like came became full circle.
51:11
But like you're right, the first mountain mindset is so different, right? And it should be.
51:15
It's supposed to be, I think.
51:16
But like can I ask you one thing?
51:18
Have you ever met a young person that tries to do all the wise like Yoda [ __ ] The like I'm already past success and money and status and I'm like on this and I it honestly kind of disgusts me.
51:30
I'm like bro I'm like can you go get drunk and try to pick up a girl? Exactly. Like pay your dues.
51:36
You don't just get to You don't just get to skip all that stuff and be enlightened.
51:40
Like you know, that comes later.
51:42
He >> [laughter] >> I have this There's a kid who I know that like I like the kid.
51:47
He's awesome and it's I don't know why.
51:49
It's probably a good thing that he's already like wisened up.
51:54
But there's something about it that like pisses me off inside and I can't I'm just like dude, you can't skip that. Go be stupid.
52:00
You can't be smart before you're stupid.
52:02
You got to be stupid before you're smart.
52:03
Like there's an order of the universe here and I feel like he's like kind of spitting on that order and that way of doing things. Yeah, man.
52:10
I I do meet people like that.
52:13
Can we before we leave, can I create a new segment real quick called life happens? Yeah, what is it?
52:19
So I wanted to know what you did for Halloween.
52:21
Did you This was a quick life corner.
52:23
I was just thinking, did you do Halloween and did you dress up and this year?
52:26
And then I also wanted to know I just have this hunch that you are great at Halloween and that you've had some epic Halloween either traditions or costumes in the past and I just needed to answer that question.
52:39
So what did you do for this Halloween?
52:41
This Halloween I have a two-year-old a two-year-old and a three-week-old kid and we went to my mother-in-law's apartment building in New York City.
52:49
They probably have 400 units in the apartment building.
52:51
I wore suspenders >> indoor trick or treating? Dude, it was the best.
52:55
You go from floor to floor.
52:57
Literally we hit you can hit 400 houses. You know what I mean?
53:00
>> [laughter] >> Just like Halloween is meant to be.
53:02
And it's a very fancy It's a very fancy building and I didn't even have to buy a tie.
53:08
>> Yeah, well yeah, it was it was lovely and I didn't have to buy a costume.
53:10
I just wore my overalls with no shirt and one of one of my cowboy hats.
53:15
>> you bought that for Halloween? >> owned it. I already owned it.
53:19
>> [laughter] >> I wore my overalls with no shirt with cowboy boots and cowboy hat.
53:21
>> you get How did you get it to look so used? So pre-pre-worn?
53:25
And my little girl was a mermaid and we went from door to door and it just looked fantastic.
53:31
>> have a philosophy or framework of Halloween?
53:33
Like for example, I have one which is like Halloween is about looking cute, not looking at realistic.
53:36
So you know I I remember one time somebody dressed up when we were 21 like we went on a booze cruise for Halloween and they dressed up as a bushel of grapes and they were it was a great costume. Looked super realistic.
53:47
They had balloons all over their body, but it was they had such a bad time and I remember just learning that lesson like never ever try to be realistic.
53:53
We're going to our future It was hard this year because my wife had just given birth and so she wasn't like we're not going to like do a bunch of crazy stuff, but our future costumes are going to be group costumes and so my wife has big hair and so next year she's going to be Slash and I'll be Axl Rose and like my kids will look like little rockstars. Nice.
54:09
But no, we're going to do we do um uh we're going to do themes cuz I think they're just darling and we trick or treated in New York City.
54:16
That's how New York kids do it.
54:18
Building to building which is absolutely insane.
54:19
Do you remember growing up as a kid watching movies of like 12-year-olds like Richie Rich or whatever like in the inner city and like they think like oh my god, that's crazy. I was around those kids. It was awesome.
54:27
And my kid is going to be one of those kids which is crazy. What did you do?
54:31
Uh we dressed up we were astronauts which was the first first good good year in a while cuz my wife does the matching thing and she always like stiffed me with like you're Yeah, my daughter wants to be Elsa, so you're like Kristoff.
54:45
I'm like who the hell is Kristoff?
54:46
Or like you know, you're like you're Olaf and I'm just a giant like snowman.
54:50
It's like I don't want to do all this.
54:51
So I've been getting screwed lately. This year was better. But I I dodged a bullet.
54:57
I got to I'm not going to lie. I dodged a bullet.
54:58
So uh I was going to come up with a costume and I was like, you know what?
55:03
Maybe I'll do fireman this year.
55:04
My kid loves fire trucks. He wanted to be a truck.
55:05
So I was like, oh you could be the truck and I'll be the you know, semi-sexy fireman.
55:11
And I was like I'm going to do that.
55:14
And I'm so glad I didn't do it because you know why?
55:16
When we were [laughter] out we bumped into my kids' friends from soccer and their two dads are One dad is a fireman and then the other kid's dad is a police officer actually.
55:27
And they wore their their suits?
55:29
No, but but like he he wasn't he wasn't even dressed up cuz he's like I'm a man. I don't do this.
55:35
And I was like if I had dressed up as a little goofy fireman and I met this real fireman who's a friend I was like that's like the biggest L I could have took.
55:44
Just man to man, that's the biggest L you could take.
55:46
I'm going to dress up as like the loser version of you.
55:51
>> [laughter] >> The wannabe version of you.
55:51
I saw the >> It's like if he dressed up as a podcaster and jumped in met bumped into me, I'd be like, oh that's cool.
55:59
It's I saw the He listens to the pod by the way. I hope he hears this.
56:01
Dude, also that guy, you may be a cop and thanks for your service.
56:05
You may be a fireman, but thank you for your service.
56:07
But if you don't dress up, come on, bro. Like that's lame.
56:11
I saw the video or I saw a photo of what your wife gave to your children like a gift basket like a like they woke up one morning and they had like a presents. >> she's a good mom. Great mom.
56:20
>> She goes over the top, man.
56:22
>> [laughter] >> She's on top of it. That was wild. Yeah.
56:25
Does she she does that for every holiday, doesn't she? Yeah, she does.
56:28
Which is >> That looked like it took like eight hours.
56:32
Yeah, she like just sacrificed like full nights of sleep.
56:33
Like pulls an all-nighter and gives them something.
56:35
And her you know, she loves arts and crafts anyways.
56:37
It's like you know, it's not like it's terrible for her, but she just wants them to have these like kind of like magical moments and like like the spirit of holidays which growing up I didn't have which kind of explains why I also don't feel the same way she does about holidays.
56:49
So And your eldest is just now old enough where she's probably Or no, your your your middle is old enough now.
56:54
He's probably like understanding traditions.
56:57
Oh yeah, yeah, they they they they get it. They like it. They anticipate it. They're excited for it. So it's it works. Dude, that's awesome.
57:02
All right, well great wholesome episode.
57:05
Oh by the way, we're about to enter Elf on the Shelf season.
57:07
So like which is it's like uh what's the thing called for Navy SEALs? Buds?
57:14
This is like my wife's version of Buds training or >> [laughter] >> Buds Hell Week. This is almost for her.
57:20
I will never do Elf on the Shelf. I I It's so weird.
57:24
>> a wise and smart individual.
57:25
>> me And of course it's easy for easy for me to say now.
57:27
Let's see if I actually stick with it.
57:28
But you're telling me that this elf is supposed to be watching the children at all times? Big Brother?
57:34
You know, let's just call him Palantir.
57:35
That's what it's going to be.
57:35
It's I'm just going to >> [laughter] >> Carp on the shelf? Yeah, Carp on the shelf.
57:40
Peter Thiel's in the house.
57:40
He knows exactly what you did.
57:44
>> [laughter] >> Better be contrarian this year.
57:49
[ __ ] off the Elf on the Shelf.
57:51
>> contrarian or consensus is the new naughty or nice?
57:54
>> [laughter] >> I just want a little like a little doll of Peter Thiel and it's just you click a button and it like says, well well uh >> [laughter] >> Like oh, it comes with the authentic stutter? That's incredible.
58:12
Well well you uh >> [laughter] >> All right, that's it. That's the pod.