034 - Noah Kagan on Facebook, Chaos & Marketing
Episode Stats
Length
1 hour and 10 minutes
Words per Minute
237.33037
Hate Speech Sentences
106
Summary
In this episode, we are joined by Noah Kagan, an expat living in puertorico, to talk about what it's like living on an island, the perks of living in the US, and what it s like living in a foreign country.
Transcript
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us too okay all right we'll try to we'll try to keep it around the hour mark what's up guys we're
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live uh episode number 34 and i'm joined today with noah kagan what's up bro uh living a dream
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in puerto rico yeah we were chatting about this a little bit before we went live so you're uh so
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you're visiting some friends for a few weeks uh what is your initial thoughts is this your first
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time there uh i've been here this is my second time here i'm enjoying it i'm really enjoying it
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i was in the snowpocalypse did you hear about that in texas yeah you guys got a little bit of snow
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and everybody freaked out and shit like i live in canada like this is my day right now i've got about
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three feet outside of my front lawn dude we get like a centimeter and we we get scared uh but yeah
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i was trying to get out here for my birthday and uh the snowpocalypse happened the shit was crazy so
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i still don't have water like my house is actually the ceiling collapsed um so pipes and blow up and
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stuff or they did they did um luckily my neighbors called let me see if i have a i'll find a picture
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but anyways my my neighbors called like hey i think your house is leaking so i i was like well
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might as well just leave texas and go to puerto rico so i'm out here the beach is amazing uh my
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friend eric southwell he had a he says that you got to have the three c's of life and uh so we're
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focused on that which is sleep i don't know it's a c but sleep cardio and good friends he's like if you
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have those three every day i guess they're not c's but they're probably not c's but no
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yeah he's focusing on that so we're trying to get good sleep trying to get cardio and we have good
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friendships so uh it's been good out here so speaking of puerto rico there's a lot of guys that
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um i've talked to the last couple years to talk about the tax advantages of living there with act 20
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and act 22 i'm sure you know you know enough about it and you mentioned you were talking with a
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bunch of um i don't know like are they expats if they live in puerto rico or like puerto rico's
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considered part of the united states isn't it yeah we we own it i mean not me america i'm one
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of the shareholders of this state okay it's kind of like we it's like we took mexico i don't know how
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we got some of these but not others it's uh it's a bunch of weirdos out here which i like but it's
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a very specific type of person are they like tech entrepreneur like eight like eight figure weirdos
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kind of like you guys like weirdos like do you fit in does it feel like you're part of your tribe
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or no not entirely no okay not really it's and it's no hate on that because i think puerto rico
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it attracts certain person so one of my best friends eric lives here i think it attracts people
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that are like hey i can save money on taxes i think they like their life here i don't know if
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they love it um i think if you're interested in like crypto if you're interested in saving money
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i guess for me i'm like why don't you just try to make more money and then live wherever the hell
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you want to live i guess that's been my approach but dude you're on an island uh you got the beach
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everywhere the vibes are good so it is a nice place to go i think i like visiting here more
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than actually living how are the beaches are they as nice as like a place like playa del carmen or
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cancun pretty pretty similar actually yeah pretty similar it's windy as hell uh but the beaches are
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nice the water's good a lot of kite surfing it's super windy out here but i honestly i've only been
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here for a few days so i don't have like i need to meet more weirdos need to see how the women look
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out here but the mexican food's pretty damn good uh so so far like is it mexican food or is it
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puerto rican food because they actually distinguish it no i think it's actually similar it's similar
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but different i think they have some mexican but it's a lot of like rice and beans and plantains
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a little more like island vibe than uh like inner mexico and you're originally from was it la or
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silicon valley because i know that that you know you spent some time in in the tech area because
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you did get started with uh facebook yeah i was born in the bay area so i was born like
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literally like a few blocks from apple's campus so my whole my first 30 years of my life was all
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immersed in that world how did you how old were you when you got into facebook that was
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about 11 years ago dude it was old man what was i was 23 so i was in 2005 so you're basically what
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like a senior citizen at 23 at facebook at the time no we were dude it's so funny now because now
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at our company absumo.com so i was 23 at facebook and i remember we hired these 30 year olds
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and they would leave at five o'clock and i would always call them such wussies i was like you guys
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are such bitches i cannot believe you're leaving so early like we stay here all night um and then
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like mark had this old lady as his executive coach and what i realized though now is now i'm in my 30s
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is that the people who are in their 30s actually just worked really smart they came in at nine they
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got all their shit done and they left at five where us young dumbasses were like i'm here all the time
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but we're not actually as productive and uh the older people had a lot more wisdom and experience
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like mark getting an executive coach you know definitely helped him uh reach these levels that
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he's at so how did you get hired at facebook at employee number 30 because that would have been
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i mean i had a business at one time with 24 or 25 people it was definitely under under 30 for sure
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and i knew what that was like like what did like what was facebook like at the time like
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so i'll tell you a little bit of backstory so i was in a cubicle at intel so i i lived at my mom's
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house which i know you always tell tell guys they're trying to get laid to live at your mom's
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house yeah awesome place to live if you want to get lots of poon yeah dude uh you know 1400 square
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foot small bay area house and i was living at my mom's house and i was doing a lot of these side
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hustles that's what they're called now i was just doing projects you know i think it's called a
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project until you make money and you know when you support yourself it becomes a business
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and i had all these kind of i did a discount card called ninja card i had a college craigslist called
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college up i did um i was doing consulting i was blogging all this different stuff and um while i was
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at intel i was like i'm gonna quit here my dream is to run my own company and work abroad like i wanted
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to like start a business and then uh be my own boss and then eventually live abroad and i was about to
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quit and i saw a job on facebook i just i think one of the best things that anybody can do that's
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young is go work for the company or the person that you admire or that you already enjoy and i didn't
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there was no other company i wasn't looking for a job but i was like i love the site i use it a lot
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i was using it to like meet women i was using it to hire people actually when was that 2005 you said
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yeah yeah so i was just i think anyone just look at what you're what it's on your phone go to
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your computer history okay and uh yeah i saw that they're hiring a product manager
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and i was doing all this product stuff on the side so i think that's kind of a key thing for
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people trying to get jobs is that it was really easy for them to hire me because i'm like i've
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been doing this for fun and making money myself so i just sent in a resume cold i didn't have any
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referrals i didn't have any friends there um and then when i came in for the job interview i came with
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a bunch of uh mock-ups i said here's all the things i think you guys should be doing and i actually
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did the work for you so i think kind of making it a no-brainer for them to hire me
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and uh yeah i got the job it was a fucking wild thing man like the first day i still never forgot
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this first day i come in my boss doug hirsch uh doug is now a billionaire from uh he started good rx
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which i don't know if it's up in canada yeah that's uh that's like a prescription company right
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like a farm yeah yeah it's like you see my tv and you get like discounts and stuff but anyways the
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first day i come to work and doug's the one who hired me first day i come to work doug is walking
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out and i'm like what the hell just happened and mark mark comes up to me he's like i just fired your
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boss welcome to facebook i was like all right all right that's that's different and so he fired uh
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because doug wanted to sell the company to yahoo for a billion oh yeah that was really marked in
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yeah mark didn't want to sell and it honestly was probably one of the biggest professional growth
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periods i've ever had what did they hire you for like what were you doing there at the time
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so i was hired there's basically in in tech companies you have developers and designers and
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then there's these product and project managers and the roles can be kind of blended but i was hired
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as a product manager which is ultimately mark says hey i want you to improve the ads product like here's
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some things i want we have to figure out the spec of it the specifications and then help make sure it
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happens so i worked on facebook ads improving that getting that going i built the first facebook mobile
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product um i invented status updates so you know twitter which is basically status updates like i invented
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that it started at facebook before twitter ever did it so who's the guy that invited that went and
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invented the poke button because that guy needs to get like punched in the face you don't like the
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poke button that's a great one the poke button got got got smashed like pretty like pretty early on but
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i remember back in the early days everybody would be poking you so-and-so poked you poked you
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it was fun you were the poke guy weren't you no i was not but i'm definitely i was a fan of it
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because it's a good way to you know get people's attention and early on they removed this really
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you know after i was fired they removed it but you could see who viewed your profile so i would go
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poke girls and poke ex-girlfriends and see when they you know viewed so it's like some look back
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yeah a little god moda experience there but dude honestly it was it was the most like intimidating
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nerve-wracking stressful fulfilling time i think of my career still to this day which is crazy i was
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only there like about a year and they ended up firing you too and i know that you lost your
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interest in the business was it stock options was it options yeah what did they offer you at the
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time they offered 0.1 of the company that was how many shares i got yeah because i was watching the
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interview that you did with um wolf of wall street oh yeah and um i think you said that they
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at the time because the video was last summer that the stocks would have been worth like something
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like 600 million dollars if you had them today yeah now i'm trying to get ripped rich on uh crypto so
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i'm gonna bet it all richard and then hopefully crypto is gonna make me rich yeah let's talk about
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crypto in a minute let's not let's not skip over the getting fired part uh no i've you know i was
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depressed for like you know this was 15 years ago so sometimes it's wild to reflect on it yeah and uh
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i do think it helped me to have a chip on my shoulder i think i was wondering if i'm you know if
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i'm honest with you which i'm always honest but i wondered how it kept going like i was like fuck man
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i got fired by facebook and i got fired by mint and then my next company got banned by facebook
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we were doing facebook games and payments and they banned the company i was like
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fucking a man like and now i'm you know professionally i've made it to a level that
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a lot of people would call successful and i would call successful but a lot of fucking failures and
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uh close calls and i i think that that chip on the shoulder from mark kind of not fucking me over
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but firing me like gave me that that drive why did they fire you was it because of fit
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there's a lot of different things i think now that i'm an employer of people i would have
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definitely fired me um i had a guy similar to me that was a young buck i called him he was a maverick
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which he's not supposed to be employed and he always wanted to run his own show and now he runs
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his own show and i think that was definitely similar to me at facebook uh i didn't want to be in meetings
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like i excelled when we were at 30 people and then when we got to a few hundred people
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you know i didn't want to go to meetings and have like 80 people literally they'd have hour
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discussions not joking hour discussions about which font to use and that's fine that's 80
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people in the meeting no there'd probably be about 30 still that's outrageous they're talking about a
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fucking font dude and i just did not that's just that's fine it's just not where i wanted to i
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think i'm like people are dying like this is not what i want to be spending time on and i didn't like
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the organization at a larger scale and even though it's 150 seems tiny now that they have 50 000 people
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and you know i think at the end of the day i needed to accept that like i probably need to work for
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myself because it's not really i'm not really employable yeah like most guys that end up
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building businesses find themselves in a position where they can't like they can't work for somebody
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else working for somebody else can be okay if you can get decent pay and you've got no risk whatsoever
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um then it could be fun but uh you get a lot more flexibility um question for you in your own
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businesses though like now as you as you go about running them running them did you like did you take any
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lessons away from your experience with mark zuckerberg and working at facebook that you
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then apply to your own entrepreneurial ventures like were there any big aha moments any big
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takeaways like oh that shit works in facebook so i'm going to use it over here like kind of rip off
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and duplicate yeah i think the the number one thing that i still use this day 15 years later
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uh is the singularity of his focus focusing on one thing only he was exceptional at it i mean i've worked
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i worked at microsoft as an intern i met bill gates uh i've met you know a lot of the idols in
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the tech industry and they're very simple they're one they're geniuses they're above normal levels
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of intelligence like you meet them and you're like okay you're thinking in things beyond me
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but his focus on like for example when i was working there i'm a traditional entrepreneur in
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terms of i like profit well it's crazy i know it's like women who don't even know men anymore
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you know uh and so i would go to mark and be like hey here's how we can make money in the
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business because i want it to be profitable and it was it was a more silicon valley business like
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clubhouse is today which is we're going to grow and get super fucking huge and then we'll make
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money later and that's fine that was just never that's never my style but mark was really obsessive
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on uh hey i want to grow the user base i'm just trying to grow so if it does not grow the user base
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we do not do it and so let me give you an example with app sumo today um and i'll tell you about my
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personal stuff as well with app sumo we have a revenue goal and that is literally the main thing
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that matters in the business and with youtube which is what i do full-time um our goal is 250 000
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subscribers and that is the only goal that is our main kpi that we are focused so fucking uh tightly
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on and i would definitely say that was from mark which is you know you meet a lot of entrepreneurs
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like yeah well i'm trying to do this and i'm trying to do that and you know my goal is not clear and
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mark was just very clear in where he was going i want to ask you about um your youtube channel and
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your goal around the subscribers in a bit but i also wanted to um chat a little bit about app sumo
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and like what is app sumo like what problem does it solve because this is like your big business now
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right i mean the last video that i saw you mentioned it was doing about 30 million dollars a
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year so this is this is pretty significant like you're an eight figure um entrepreneur at this
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point now yeah so honestly if i'm well i'm damn why do i always say that i know not always but i do
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say that so i can't believe how big we are like when i look at our daily revenue and i look at the
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customers and i look people buying and you know the people we help and the people we promote
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i'm still in shock because when i started it uh the reason i started it was that i love deals
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and i love software and i love marketing and being an evangelist and i was like well people always need
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more customers i love promoting things what if i just did deals on software and it was basically you
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know software deal site and then that's what it's kind of like a group on for software uh was the first
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version and i've started i don't know 20 25 businesses over my life so far and this is one of the
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first ones i've worked in a few hyper growth when you find something that works it's different
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like when i was at facebook they fucking explode when i was working at mitt.com it exploded when i
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worked at my facebook games thing exploded when i did like app sumo and i launched it exploded and
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i've had a lot of the other ones that fucking flopped like a lot of floppage and i think people
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wanted deals people want software and all these companies want customers so now today i would say that
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we've transitioned it to become more of like an amazon so it's a marketplace for software so
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if you're starting a business you go buy tools or if you're growing a business you buy tools
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and also someone like you or people out there now can list their courses they can list their books
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they can list their software uh you know as an open marketplace you mentioned a few of them um with
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great successes and hyper growth um and there's a obviously a few that didn't get there at what point
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do you decide to take it around like behind the barn beat it with a stick kill it and then bury it six
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feet under like is there after six months if it's not doing what you want it to do like how do you
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like how do you evaluate that when you're playing the win in your own business that's a very canadian
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side of you richard you're like oh we're gonna take them out to the the skating rink we're gonna do
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some uh cucking or not cucky what is that called it's cucking me and my friend talk about cucking all
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the time out here it's called hockey hockey yeah that's your game you guys play we're gonna hockey stick
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it so i will say we had a framework that was pretty rigid uh which is basically 12 months roi
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so we'll try anything and spend up to about a million dollars in terms of salaries and development
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and things like that and can we make our money back between 12 sometimes we'll go longer so when
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we did sumo.com it exploded and then we were making our money back in 18 months uh but let me give
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you two other examples we launched meet fam meet fam in salaries people's salaries we paid a million
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dollars and after a year we made 12 000 bucks and so we didn't see that the the customer base was
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going to get to some level we didn't see that the user base was going to some level so that we killed
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it and i think that's one of the key mistakes i would say of marketers and entrepreneurs which is
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they don't stop the losers and they don't double down or i think our company has done gotten to this
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level because we've 10x the winners uh but yeah meet fam was a whatever tool we built a site called
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haul drop two years ago which was like a product hunt for e-commerce stores so you could you know
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rank and find cool products it didn't really get a lot of traction and we tried for a year and then
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we killed it so i think you have to do 12 months roi why do you think app sumo was so successful and
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the other ones crashed that's interesting why did app sumo work and those didn't so app sumo i think a
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key reason app sumo works is urgency so if you get an email today that's like hey i launched my book
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go check it out or hey here's a software go check it out there's no reason to go to take action today
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but app sumo was like yo this is an insane deal that's only going to be around for 48 hours
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and so i think that led to a lot of people being like oh shit like here's a product i already like
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and now i can get an insane price on it and so i think people took action on that
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meet and you have to be on the email list to get notified of all these deals too then so that
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forces people well that that grows your email list which which grows your customer base
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yeah you don't have to be on so originally like 95 of our revenue came from email marketing so i've
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made millions of dollars uh and our company has because of email but nowadays we've diversified
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our traffic so that we're not as dependent like if gmail puts us in a spam folder one day we don't
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get screwed um the other products in hindsight it's hard to say like we like we built this this
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tool meet fam which was an automatic email sender for shopify stores so let's say you richard you
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created a store uh for t-shirts and you want to send emails you literally could connect the store
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and we do all of your email marketing automatically um i think it was a little bit complex and i think
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people wanted a little bit more control over it so people wanted to actually send they wanted to
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like touch their emails more than our ones we generated like i don't really like the way this looks
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um i think what we could have done differently in that business is done more consulting
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and done more like manual like hey richard let us run your email marketing and we do that for enough
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time uh and then we can figure out some solution there's other reasons like people didn't want to
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switch from klavio i think what what happens is a lot of people start businesses or they get fantasies
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about it um and i don't know if the validation is really strong that this is going to be successful
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or not i think most businesses 100 you could find out within a weekend whether it's going to be
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successful or not within a weekend you should be able to know very very quickly i mean the way you
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know is if people are willing to give you money the thing that that always drove me bonkers you know
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with a lot of um tech companies and it's i find it strange that you come from that background and
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you don't subscribe to the notion of just building an audience like just building users like acquiring
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people onto something like facebook and then let's worry about monetizing it five ten years down the
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road we'll just keep raising funding until we get to that point and that and that always drove me
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like nuts like i always bring the hand up like high in the head it's like you know seinfeld you're like
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when you go up here you're like oh that drives me crazy but like i've always loved to bootstrap my
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stuff right um let me ask you this question um what do you think the most important skill is
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for an entrepreneur um in order to be successful i've thought about this a lot lately yeah i would say
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have daddy issues why i'd say have daddy issues number one uh i think have dad issues because you
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want to prove yourself so it doesn't have to be a dad issue i'll tell you the thing i think is the
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most important skill or give it two but i think the people that have had some chips on their shoulder
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and have something to prove is definitely excelled because they've like i've got to get through this
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hard part um and you know i wanted my dad to to acknowledge me because i felt like i didn't get
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enough attention when i was younger and then as i started making money i was i thought that would
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get the attention it didn't uh and so eventually you have to like yourself and things like that
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but i definitely think having some uh levels of that like steve jobs was adopted i think that
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definitely impacted a little bit uh of his success but i would say in terms of like actual skills that
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people could practice and i can give people tips on how to do it number one is persistence
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it is fucking a grind sometimes it's easier than others but like i'm doing full-time youtube there's days
00:20:47.280
where i launch a video with our team and i'm like i'm the greatest superstar out there and there's
00:20:51.020
days like today we put a video no one watches it right and it's being able to fucking go on the next
00:20:55.380
day so i say persistence i tell people to do the coffee challenge that's kind of what i got known for
00:20:59.780
which is go out and get rejected you go out and ask the coffee challenge so you go out you when you get
00:21:05.380
your coffee coffee mug and you say you go to starbucks or whatever in canada dunkin donuts or tim hortons
00:21:10.440
and uh you say hey i want 10 off and you can do this when you buy anything and they say no
00:21:15.400
or maybe they say yes who cares the point is you get rejected and that really builds up your your
00:21:20.500
kind of fear muscle but also your persistence muscle because you're like all right well i'm
00:21:23.600
gonna do it again i'm gonna do it again and eventually you're like you know you you talk a
00:21:27.420
lot you know help guys with dating and advice and women a lot of it is like all right keep going it's
00:21:31.580
fine so i think persistence you know my one of my favorite quotes my friend says persistence beats
00:21:35.400
resistance uh so i'd say that's number one that i love and the second thing i'd say as an
00:21:39.780
entrepreneur uh personally is you know follow through i can't tell you how many sales i've
00:21:45.340
done in my life and i've done millions of dollars in sales from actual sales as well as online sales
00:21:49.240
that just because of the follow-up follow-up email follow-up call follow-up text follow-up
00:21:55.080
what's that message has closed the deal uh and so many people email me like or email i'm sure you
00:22:00.400
get emails all the fucking time hey richard i'd love to do something with you never follow up so i
00:22:04.260
still i owe you a follow-up actually for the book notes but it's still in my to-do's i'm gonna do it
00:22:07.620
and it's just like you got to follow up on your things and i think that that separates a lot of
00:22:11.140
winners from losers i think losers send one instagram dm to some girl or one you know one
00:22:16.420
message to some company they want to partner with and they call it a day they're like oh it didn't
00:22:20.500
work it's like did you really want it if you want it follow up i've i've um you know like i mentioned
00:22:26.740
i've thought a lot about this and i think if i were to like distill it down to one thing i would say
00:22:32.480
having having the ability to solve problems um gumption is very important to you know like having
00:22:39.040
that grit like you talked about but i find that when you start up a business it's it's really just
00:22:44.580
a sequence of problems that you have to deal with and if you can get good at finding solutions to
00:22:49.480
problems um you can get good at business i mean it's the same thing with women it's like how you
00:22:53.960
were talking about the 10 rule and dealing with rejection there's there's a large demographic of men
00:22:59.500
out there today that don't know how to deal with rejection with women and i mean they would be no
00:23:05.220
good at starting up a business or doing sales calls and stuff like that at the same time but
00:23:09.740
i think that's an important um thing to mention too um i like the resourcefulness one i definitely
00:23:15.620
think that's that's a great one yeah um what are you super passionate about today is it like your
00:23:20.540
youtube channel is that like the whole focus of your thing do you do anything with app sumo on a
00:23:24.260
day-to-day basis or is that for like other people to deal with now yeah that's other people that like
00:23:28.800
it more than i do i mean i i love what it is i enjoy the company um i don't think i enjoy the day-to-day
00:23:34.140
i did it for enough i did it for as much as i i wanted to and the people who are running it are
00:23:37.800
better than me i think that's kind of a hard thing as we get older to accept what we're great at
00:23:41.500
and accept what we're not great at and let that go yeah and uh yeah my days honestly i love making
00:23:48.040
youtube i get like i'm my career literally is kind of talking to you right now like how fucking cool
00:23:52.420
is that i get to hang out with you i make videos i do good yeah and i get to be a part of i i love
00:23:57.300
tech still so um i like that i still get to be a part of app sumo which is you know it's promoting a lot
00:24:02.760
of the the latest technology for entrepreneurs i got a i got a comment here from somebody it looks
00:24:08.800
like they he says when i when i first started internet marketing the first copywriting resource
00:24:12.860
i used was app sumo's 35 email templates every business need stolen straight from the experts
00:24:18.380
outboxes made six figure sales for my first cold call email campaign that i made and that's what i
00:24:24.080
learned in that pdf so dude hell yeah that's pretty cool dude send me send me a check just kidding
00:24:30.660
dude i'm happy for that's awesome man that's so cool i always love it when people send you emails
00:24:35.040
and dms like i love your shit you saved my life i'm you know like i feel so much better i understand
00:24:38.900
things yes i just think myself cool man send me a paypal that'd be awesome too i think at some point
00:24:44.180
i mean you know what's funny i'll tell you i've never really liked i liked i've been blogging since
00:24:48.700
2000 you can go to archive.org and see i've been blogging stupid shit and great shit since then
00:24:52.820
but i always thought i was dumb and i was always kind of scared of accepting being out in public
00:24:57.900
fully without apology not without apology but just being out fully and i'll say like i just
00:25:03.560
thought maybe i thought myself was stupid or didn't really help people and a year ago i was
00:25:07.340
talking with a friend he's like you sure it's not helping people and i finally started looking at the
00:25:11.320
comments and i started listening to the people and i don't know how you do it richard but i reply to
00:25:15.740
almost every single youtube comment and i you know we at this point i don't need more money i do take
00:25:20.700
more money and i enjoy more money but i don't i try not to focus on it as much but i fucking love the
00:25:24.880
comments and i love going into youtube and like reply to the comments or see people getting results
00:25:28.980
and like you know it gives me a lot of satisfaction i feel like i'm helping these other underdogs
00:25:33.100
uh kick ass so here's a little sales pitch for noah's channel you can just look it up under noah
00:25:39.300
kagan and uh it's spelled k-a-g-a-n don't spell it the wrong way like i did when i set up the event
00:25:45.020
but uh yeah pull it up and check out his stuff he's got some really good videos on there i'm
00:25:48.380
subscribed and i definitely watch uh some of the interesting ones i like how you kind of pivoted into like
00:25:53.060
uh um breaking down like success stories like i watched the other one the other day on um warren
00:25:59.240
buffett um you you've done a few different things on the channel like you've moved from one to the
00:26:05.820
other to the other sort of thing like what did you start out the channel doing dude it's so wild and i
00:26:10.120
think we're pretty i don't want to say advanced but i think we're cracking some codes that are going
00:26:14.060
to take us to these next levels that i'm happy to talk about yeah so when corona hit in february march
00:26:20.580
and i think everyone was like what the fuck is going on i got really excited i my natural state
00:26:26.140
is thriving in chaos yeah so the more chaotic things are and the more things are kind of confusing
00:26:31.540
i'm i just get very excited like for me when it's the same like if i go to sleep and it's the same
00:26:36.320
thing every night i'm like how do i change and i'm trying to actually get better at that to be honest
00:26:40.240
like i'm trying to get better at being more enjoying the consistency of life and sustainability
00:26:44.220
but yeah so march happened i was like shit's going crazy and i was like yeah this is go time
00:26:48.580
so i started just making videos again talking about like what am i doing with my stocks what
00:26:53.600
am i doing with my business what are we doing at our company uh and i just try to help people
00:26:57.960
during that time period and it was just so fulfilling and i just said fuck it man you like
00:27:02.220
this stuff like figure out how to make this something that you can do forever and so the
00:27:06.660
first videos were just me shirtless with using my phone being like hey here's what i'm doing
00:27:11.440
today like let's go fuck and make some stuff happen and then i one of the things i talk about
00:27:16.260
the channels the law of 100 which i think i think is true it's not technically a law but
00:27:20.860
all laws are man-made uh and the law is basically make 100 videos or do 100 sales or talk to 100
00:27:27.880
girls or women whatever it is and so i did 100 videos more or less last year we got to about 100
00:27:33.380
at the i think beginning of this year and like a few of those videos worked in terms of like getting
00:27:38.900
to like five or six figure views so it it's been a it's been a grind but also satisfying to find
00:27:43.600
something that i i enjoy i also like the the marketing aspect of it like how do i crack this
00:27:48.100
code to entertain people help them and i'll you know and grow an audience at the same time yeah i
00:27:53.240
i find it fascinating too like i like that you can run it as a company of one because because i'm at
00:27:57.380
the stage now where i don't want to deal with um corporate issues employees going to an office and
00:28:02.940
all that stuff like i got out of my business my brother runs it now i just kind of you know do some
00:28:07.280
consulting i do a weekly show on my other channel you know for that business actually on
00:28:11.020
saturday morning so total debt freedom is a channel 9 a.m saturdays me and andrew are on
00:28:15.700
doing that but i'm just looking here at your older videos and like you've got one two three
00:28:21.440
four rows five rows before you hit 221 000 views on one of your videos which is three years ago slack
00:28:27.480
tutorial how to slack like a pro in less than five is that five hours five minutes so why did that one
00:28:33.760
break out for you do you think what's actually interesting is that i because everything up to that
00:28:39.960
point was getting like 2 000 3 000 views and then that one got 221 000 yeah i think what's what's
00:28:45.560
interesting though is that like i've gone through i think like i have the entrepreneur disease which
00:28:49.180
is oh my next thing is going to be easier and better and i think every entrepreneur thinks this
00:28:53.340
yeah it never is it honestly never is but i started youtube and basically one of the guys i didn't have
00:28:58.120
anything to do and i didn't know what to do with my life and one of the guys i worked with is like
00:29:02.760
why don't you just get on video and we'll make videos together i'm laughing because i did the exact same
00:29:06.760
thing in 2014 i was like i hate my business i don't want to do this anymore i like fast cars
00:29:10.860
and entrepreneurs let's go do this shit instead and i get it dude it's exact same thing yeah i
00:29:17.920
think for most people let's just go back to what you enjoyed as a kid or go do go work on things that
00:29:22.540
you'd work on for free did you like do you follow james altucher because that's something that i've heard
00:29:27.220
him say a lot i liked you yeah james is a friend yeah like one of the things that i heard him say i was at
00:29:31.700
this conference a few years ago and you know he was there with his ex-wife at the time and he was talking
00:29:35.460
about how you know you like have these have this like idea sex so you just mash up two ideas and
00:29:39.820
like what did you do when you're like 11 or 12 years old and you lost track of time sort of thing
00:29:43.620
it's like yeah so you know it sounds very reminiscent of those uh narratives maybe it's a jewish thing i
00:29:49.740
don't know but i think generally it's like if you want to make the most money possible just go find
00:29:53.560
the thing you can work on for free forever what does that mean when when when jews say it must be a
00:29:58.360
jewish thing because i used to have this jewish roommate when i was younger and you actually remind me a lot
00:30:02.920
of them like like he's like he's gone on to become a very successful lawyer now but we got on great
00:30:08.440
when i lived with the guy like what does that mean it's a jewish thing you ever meet jews i don't know
00:30:13.060
if other people were not jewish dude i used to live with a jew you can kind of tell they're a little
00:30:17.280
different right like oh that guy's different a little different no they're like hyper they're like
00:30:22.660
i have to go and do this come on let's go it's like where's my riddle yeah we probably invented
00:30:27.900
ritalin probably right um and well to be clear i think there's also a very interesting distinction
00:30:33.140
about an american jew versus an israeli jew what's the difference an israeli jew is just a a little
00:30:38.240
more chutzpah a little bit more pressing they live in a smaller environment they're even they're more
00:30:42.660
extreme uh in terms of direct like they're like hey and and the language is like i'm learning hebrew
00:30:49.300
a lot of language in hebrew is like it's all contractions like you know in america we have this
00:30:54.260
like israel's like yo we're a small ass country we used to have more enemies around us
00:30:57.820
we don't have enough time to like deal with like a lot of stuff so it's like contractions
00:31:00.700
immediacy um it's an interesting culture i think in terms of judaism when you say it's a jew thing
00:31:08.300
i i think one of the best words my friends call me is neurotic and i i think it stems from you know
00:31:15.160
judaism is kind of a culture based on community and both based on questions like are the culture
00:31:20.100
is encouraging to ask a shit ton of questions and it's like why is that what do you do this for and
00:31:25.100
that that's kind of what we're we're taught why why why like keep asking why over again yeah yeah
00:31:30.140
yeah the jews do that and then you know we have these kind of women in our culture my mom
00:31:34.660
that just a very unique breed of woman like overbearing imposing loving strong just very
00:31:43.220
specific that i think create these certain type of men i don't know how to describe myself but
00:31:48.120
definitely uh a little different you have a um i just sorted your videos by popularity you have one
00:31:53.320
here on the top looks like five mr steel yo pennies why jewish people are taking over the world
00:31:59.500
that one didn't seem to do so well with the like to dislike ratio i i understand that's a video i'm
00:32:05.560
not sure i would put out today not something i want to get into or like debate with other people
00:32:10.320
i was in israel i was living in israel at the time okay i'm having to talk about it it's just
00:32:15.540
interesting that this one culture and there there are um conspiracy theories like you can look on
00:32:19.600
wikipedia oh there's a lot of dudes that will blame the jews for everything yeah yeah also
00:32:23.980
there's conspiracy theories why are the ashkenazis the the lighter skin jews uh so successful
00:32:28.420
so do i know i don't know the answer um so so what's next for you with the channel like where
00:32:36.300
are you going to go with this have you have you completely pivoted to like breaking down how mr beast
00:32:40.940
made 97 million dollars a year and what and why warren buffett does what he does sort of thing like
00:32:45.200
is that a is that a commitment for you now you know i will say you know what i think about success
00:32:50.480
the more successful you are the more boring it gets why do you say that i feel because you find
00:32:56.400
what works and then you're like well yeah you're like ah i have to keep doing this so that's hard
00:33:01.980
like if something's boring your business it means you're doing well uh we were doing these videos
00:33:06.120
breaking down people so breaking down warren buffett breaking down mark cuban two things one it does get
00:33:11.280
boring to say hey here's how we're breaking down people and most of them are kind of the same thing
00:33:16.420
so it's not actually that it becomes not interesting for us to create and i think for the audience but i
00:33:21.120
would say initially when we started breaking down we broke down mr beast in the first video and it
00:33:25.740
was like our first like huge video of the year did 400 000 views and so our strategy at app sumo.com
00:33:31.680
and uh within our youtube channel as well the way we've always run our business like if something
00:33:35.260
works 10 exit i know grant talks about this shit but i don't think people actually get what that means
00:33:40.180
like if you find so for us we found that how to make money breakdown works on youtube you go look
00:33:45.600
at our channel it's like every other video now is like a breakdown video i noticed that yeah yeah and
00:33:50.220
so we're pretty obsessive about finding what works but what what we're noticing is it's not working
00:33:54.360
anymore so if you look at they're really well researched is it is it something that you invest
00:33:59.300
your time into research and to lay out all the data or does somebody do it for you like so we have a
00:34:03.740
full team i'm happy to talk about that so i spent this year 2021 i'm going to spend a million dollars on
00:34:08.620
our youtube channel you're gonna spend a million dollars on the youtube channel cash dude keep
00:34:14.000
going keep talking yeah we're spending a million dollars investing i'm getting antsy here like
00:34:17.860
shaking because i know that youtube doesn't pay like i know what the ad revenue looks like it's
00:34:22.240
it's it's fucking peanuts right we make from youtube ads directly we make five thousand dollars a month
00:34:27.100
right and then i give i don't i guess i give but like the team that works on the channel takes
00:34:32.080
two-thirds of it and then our company takes a third of it i want them to be motivated so as the
00:34:36.260
channel grows they get compensated okay so they're getting paid like a commission like a percentage
00:34:40.180
split well plus salary i mean the other salary and that's like their bonus on top of it okay uh but
00:34:45.900
yeah so we found that those videos i'm happy to talk about our budgets and all this stuff but we
00:34:49.120
found that those videos work so we went crazy on it we've you know we're trying to we're trying to
00:34:53.340
find series so what are content angles that we can repeat so the how do people make money was a
00:34:58.660
series the other series that's worked really well for our channel is business ideas so um we go we
00:35:04.300
partner with different companies that have data and we're like hey what are the top businesses that
00:35:07.880
people can start every one of those videos has banged has banged and then we do a video called
00:35:12.620
million dollar weekend where i show people how to start a million dollar business in a weekend
00:35:16.320
those have done well i just hate doing them so i think that that's kind of the the challenge in
00:35:20.880
all business like what do you want to do in the world what people want to pay for and then like
00:35:24.300
how do i fucking play in the middle so i will say though i'm very excited though um
00:35:29.040
we're trying to figure out series but also just have more fun with it man let's talk about my
00:35:35.100
business partner about our upcoming content and it was just like it's like do you actually he's
00:35:39.600
like no you don't have to make any more money like you have more than enough like do you want to
00:35:42.620
make any of these videos and i was like yeah they're okay he's like well stop dude just go
00:35:47.320
fucking find the ones you're excited about so that i'm gonna read off a few of our upcoming
00:35:50.320
ones where we've been brainstorming on which is like uh my old managers roast me
00:35:55.640
uh why i hate clubhouse and i hate everyone who talks about it uh i wish all these old guys would
00:36:02.160
stop telling me to invest in pokemon cards i don't know just like oh just fucking funny shit like is
00:36:08.200
tai lopez a scam or not yeah uh i want to one of our videos we're talking about is running will do
00:36:13.640
well yeah i mean we just did grant cardonia scam uh one of the videos is like i want to run someone's
00:36:20.640
company for 24 hours to see a lot what the fuck i could do to it i don't know just more like more
00:36:27.040
we're trying to do the series and our our angle is business like i'm my expertise in startups and
00:36:31.880
marketing and so just trying to have uh you know the way i've thought about our content you know is
00:36:37.120
some of the videos are like this can get 5 000 views or this is a 6 000 view or six figure video
00:36:42.140
or the seven figure and so trying to i guess increase the pie of how many potential people would want
00:36:46.040
to watch one of our videos and i think a lot of people are they make a video i'm like how many people
00:36:49.520
would actually want to watch that even if it's the best one online uh so a little bit earlier you
00:36:55.320
were saying that your goal for the year is to get the channel up to a quarter million subscribers
00:36:59.340
as i look at it right now it's got 131 000 subs so that's totally doable i mean we're in february
00:37:04.580
you could do that very quickly in fact well why do subscribers matter to you like why not revenue why not
00:37:11.840
uh total views like why not some other metric because in my experience i don't find subscribers to be
00:37:17.720
that important like i i've hidden the subscriber count on my channel because i don't care it
00:37:22.540
doesn't matter to me it's not relevant um the channel will have a million subscribers at some
00:37:27.600
point but when people track it and they kind of compare it to other people's channels the thing
00:37:32.040
that i find that they don't understand is when you have a subscriber number it doesn't mean a lot
00:37:36.600
because your videos don't reach all of your subscribers your videos reach who youtube wants to send
00:37:42.740
them to based on an algorithmic profile on what people do in the first thousand ten thousand
00:37:48.640
views you know when it gets sent out so i'm just wondering why it's subscribers for you like why does
00:37:53.140
that matter we could choose any it's well at the end of the day it's all arbitrary i mean you could
00:38:02.180
choose so we're not so as we came into the year we originally going to focus on breaking even
00:38:07.560
it was like hey let's get the channel to break even so it's self-sustainable and i went to my
00:38:12.960
business partners and i said hey we can break even or we could try to really grow the channel
00:38:16.460
significantly and if we grow the channel significantly i think it's going to really
00:38:20.020
benefit all of our businesses like everything we've created now we can put water on it um if you
00:38:25.240
know my brand gets larger and they said yeah that's great go invest in in your brand and your
00:38:30.080
audience in this audience so that as you get larger you can tell more people about app sumo
00:38:33.280
or other products we're creating and so then it was like all right well what's a good measurement
00:38:38.200
of the audience and so we actually originally looked at like we called it total available
00:38:42.600
mark total available audience um and it was basically like no it was called margarita monthly
00:38:49.740
active readership or some shit like that it was like every audience from twitter linkedin
00:38:54.700
instagram youtube all these different things and it was just too hard to grow it all it was like
00:38:59.060
hard to grow my instagram and my youtube and my twitter and so i was like all right let's just pick
00:39:02.340
one so he picked youtube and then the subscriber goal feels the most controllable it feels like
00:39:08.520
if i do things that i think will impact our growth i can easily see that making an impact on our
00:39:14.020
subscriber number uh directly i feel a lot of times people do they do goals and it's like can you
00:39:19.700
control it not really so that's not a goal uh i yeah i think there's things like you know just
00:39:25.160
because you have a lot of subscribers doesn't mean you have a lot of viewers it just feels for me
00:39:27.740
right now to be the most indicative of the success of the channel got it um do you think that youtube
00:39:35.180
is a place where i mean on a balance of probabilities most people should spend their time if they want to
00:39:40.480
grow an audience like is that the best place in your view or like like 100 i mean you've got a video
00:39:44.460
here about clubhouse as well and i haven't used it because i'm not an apple user i have an android
00:39:48.340
so they've excluded me from their club but um yeah right what's what's your view on like the
00:39:54.940
the best platform to grow your business on like is it still that 100 youtube 100 youtube a lot of
00:40:01.820
people get scared off because they're like oh you know i wish i had done it in 2010 or whatever and
00:40:05.320
it's too late they're gonna wish they did it in 2021 100 and so i think 22 i think youtube people
00:40:10.540
are like even crypto and we can talk about that a little bit i'm happy to share my numbers uh i think
00:40:15.700
youtube is going to be one of the number one job creators in the next 10 years number one why you don't
00:40:20.680
need any fucking money you could do it wherever in the world and you could do it for whatever
00:40:24.220
you're interested in and the next generation like the next president the next a-list celebrities
00:40:30.300
most of them are going to come from youtube i think tiktok and clubhouse and instagram i don't
00:40:36.340
think bring quality audience i think as i've seen from the youtube channel one it brings you an audience
00:40:40.920
it pays to host your videos and then they pay you ad money that's fucking bonkers like name other
00:40:45.540
businesses that do that and the audience that i've seen that like watches your show like dan and
00:40:48.880
raymond and the people that are showing up today and the ones who watch on my channel i've just never
00:40:52.960
seen a marketing medium that's brought this many great amazing customers and you know audience and
00:40:58.620
potential customers i just haven't seen it yeah the algorithm is good when you figure out what it
00:41:03.800
wants um is there anything that you hate about youtube like is there anything that you don't like
00:41:09.160
about it or if you're like susan like that you would change right now yeah i think what gets
00:41:15.740
challenging is there's times it feels like a treadmill there's times where it's the creator
00:41:20.680
yeah it's just like i can't like i'm on vacation in puerto rico and i'm stressing like i have my
00:41:26.040
so like i have my that's my camera bag with like a bunch of setup gear and it's just you have to
00:41:30.120
make content yeah and you know at the same time that is a job of sorts right like if you're trying
00:41:35.080
i think that's where people struggle with youtube is like i want to be successful and i'm trying to
00:41:38.240
build a channel i'm trying to build a business it's like how long are you gonna do it for if
00:41:41.500
you're not willing to commit to at least 100 videos or 10 years uh i don't think you should
00:41:45.920
expect success from it but i will say there are times where like i'd like to not to have to make
00:41:49.940
videos but it does feel that youtube rewards uh recency in content but overall i love youtube i
00:41:57.660
mean i don't have many complaints because look i don't have to do this shit so i don't have much
00:42:00.520
to complain about if you don't do don't fucking do it but i like that i get to make videos i get to
00:42:04.140
interact with smart people like yourself i get to like respond to comments and i like the creativity
00:42:08.800
like i like that lately we're like how do we make a video where i take over or gave away a
00:42:12.840
business two weeks ago we bought a company and gave it away it was interesting i don't know if
00:42:17.860
we'll do that uh exactly the same way but it was like oh that's it's fun to create these types of
00:42:21.820
new yeah you do some interesting giveaways i mean you gave away a car a tesla was it yeah we just
00:42:27.340
posted that on app sumo's video uh i don't think we did it i don't think we got as much juice out of
00:42:33.220
it as i would have liked like i think if you're giving a fucking tesla you need we can i'd like to see
00:42:37.140
the roi be crazier we did roi our money back in about i think it was like three months but i
00:42:42.040
think in terms of the content we don't i don't think our team and i think we're we're working
00:42:45.360
on it making taking a giveaway of a tesla as a you know really entertaining thing to watch and i think
00:42:50.540
we're improving around that well you got to give away your tesla noah that was my tesla oh it was
00:42:55.160
your car that was my fucking car yeah straight up gave it away i did buy the new uh i bought the model
00:43:00.100
y which i i love so i'll probably give that away why do you like so much you have you've driven one
00:43:06.840
right i've driven one yeah but this is like maybe 2012 or so 2013 oh dude it's like when you had it's
00:43:14.040
like from and i know people say this example but it's like having the iphone versus a flip phone
00:43:17.880
it's just like and you should try a recent one man if you come down to austin or if you get a chance
00:43:22.240
to go drive a new one well i got this new one they got this plaid version which is like a thousand
00:43:25.860
horsepower apparently it like hurts when you accelerate like it actually hurts your body physically
00:43:29.800
i can see that that i mean i'm not as into the speed stuff as you are um i think the i think on
00:43:36.640
one hand it's like there's so many tiny details and i'm happy to give a few specifics there's so
00:43:40.880
many tiny details that they just improved on that have just added up to like a huge difference that
00:43:45.240
like i have a miata i have a like a fixed up miata that's my weekend ride and i love it for the
00:43:49.940
weekend ride but like in terms of just like overall car like they've done so many nice details like
00:43:54.140
the fact that you never need a key anymore kind of tiny but you don't need a key anymore your
00:43:59.160
windshield wipers are automatic you never have to think about that anymore the car by the way
00:44:02.760
fucking drives itself the amount of energy i don't have to think about now when i want to do a road
00:44:08.300
trip or if i'm driving anywhere is is unbelievable are you able to do work while the car is driving
00:44:12.180
itself i don't do when i did my road trip from your dating app you're like swiping oh when i was
00:44:17.940
okay i'm safe okay but i when i was driving to california this summer when i was living there
00:44:23.620
i had my phone my ipad and my laptop out while i was driving well while the car was driving
00:44:29.560
because you can put a water bottle on so the the car will just drive you know you don't normally now
00:44:33.960
you have to touch the steering wheel to show that you're you're there uh but you can do a hack to
00:44:37.980
make you know so it seems like you're touching the steering wheel but dude it's just so far ahead
00:44:40.860
of everything else like when i drive like a rental car or other cars it just feels like such a step
00:44:46.060
back in history um talk to me about cryptocurrency what's your experience i'm in the mecca of it
00:44:53.440
in puerto rico this shit is wild dude yeah so like what are you into you into like bitcoin
00:44:57.820
like ether like all the alt coins like what are you investing in so let me just take a step back
00:45:03.000
and explain my my investing style i am not a risky investor so it's so funny though because people
00:45:08.900
always think entrepreneurs they're fucking crazy and they take all these big risks i don't think
00:45:12.280
i've ever really taken a big risk entrepreneurs are calculated risk takers yeah everything i've done
00:45:17.820
but very calculated like when i left intel to work at facebook my mom was like i can't believe
00:45:22.320
you're doing this i was like there's no risk here like they already had we already had series a so
00:45:25.740
we had some money i knew it was exploding i knew they're gonna be like a giant business same thing
00:45:29.920
like when i went to go work at mint same thing when i started out sumo i was like i don't have a high
00:45:33.600
cost of living so even if i can just make a few thousand bucks a month like that's not that risky for
00:45:37.540
me to go do this business plus i have consulting gigs so with bitcoin in that uh the everyone's got a
00:45:43.940
bitcoin story oh i had a friend you told me it's like shut up bitch if you either you did it or you
00:45:48.180
didn't do it i just they all everyone's got a fucking story it's like either you have it and
00:45:51.860
the people who have a lot of this shit don't talk about it and i'll tell i'll tell you a quick crazy
00:45:55.760
story i'll talk to a guy the other night that's got 4 500 bitcoin i was like shit okay that guy by
00:46:03.960
the way would you have known if you'd met him and talked to him on the street would you have known
00:46:06.820
known he had it they shut the fuck up yeah all the richest people shut the fuck up like all the ones
00:46:13.820
like gary v and all these people who talks even myself like talk a shit ton about all this stuff
00:46:17.800
most of them don't aren't that fucking rich like the real rich shut the fuck up right um anyways a
00:46:25.200
guy that was one of our app sumo customers who i met he tried to do a startup for 15 years he was
00:46:30.860
grinding on startups and and then like i met him uh it was probably about four years ago i met him i was
00:46:35.920
like dude how'd your startups do he's like none of them ever worked but i bought ethereum at a dollar
00:46:40.060
and now he's worth nine figures so just kind of funny how uh like you ever seen the movie a small
00:46:46.120
time crook no it's good oh oh dude i fucking love that movie these guys try to rob a bank and to rob
00:46:52.820
a bank they buy a cookie store and uh the whole movie they're trying to rob the bank and then halfway
00:46:57.220
through the movie the wife's cookie store makes a million dollars and they get rich so it's kind of
00:47:02.700
like uh i like one of those stories where they buy the cookie store beside the bank to like dig yeah
00:47:07.380
yeah exactly exactly so for me i'm not a crazy you know for how much money i have i like a lot in
00:47:13.560
cash i like seeing it i've tried as now i'm in my you know i'm almost 40 like i'm trying to be a
00:47:17.580
little bit more actually more risk-taking in it but generally with crypto uh my personal story was
00:47:23.260
everyone in our company bought it uh in 2013 and i was like you guys are fucking retarded it's fake
00:47:28.720
money and then in 2016 or 2015 i needed to buy an illegal nfl stream
00:47:34.440
straight so there's a site it's still online i still use it it's called seasons for you
00:47:40.140
uh seasons for and then you and it's you can get amazing streams of any sport team or like mma
00:47:47.160
for 100 bucks but you had to pay in bitcoin bitcoin okay so i was like ah fuck so i went and bought
00:47:52.180
the bitcoin and i bought the stream and i still pay the ip these guys every year and i use the crypto
00:47:57.280
and then i was like holy shit i can see where this is interesting i can see and i think that
00:48:02.440
sometimes if you're not if you don't get nft which i'm getting really into or trying to understand it
00:48:06.100
i'm not getting into it i'm trying to you've heard about nft yeah i watched a video the other day by
00:48:10.960
alex becker talking about him i just i get it i'm still not going to throw my money at it sometimes
00:48:16.960
it seems like it's dumbasses trying to just get rich and this is the thing that the robin hood
00:48:20.840
traders think is the next game stop like i still don't fucking understand like game stop doesn't make
00:48:24.600
sense at these valuations like fundamentally um i think it's the same with a lot of this stuff is
00:48:29.460
people chasing i think it's a lot of gamblers thinking this is how they're going to get rich
00:48:32.760
and i try to discourage that shit it's like that's how you're so for me with crypto people don't
00:48:37.300
understand that there's no get rich quick schemes like anything that exists like if you're going to
00:48:42.380
be successful and wealthy there's there's always work and time that's involved like every single
00:48:46.240
overnight success that i know was five ten years i would say it's ten years honestly i'd say it's
00:48:51.700
ten years minimum like it took me ten years to make my first meal yeah but people are like oh
00:48:56.320
i'm gonna be a fucking robin hood millionaire and i'm like that is just not the reality they don't
00:49:00.560
get it man i mean i started my channel in 2014 i've got almost a thousand well i've i've got more than
00:49:05.980
a thousand videos because there's a lot of videos that i recorded that never got uploaded or maybe got
00:49:10.080
uploaded never got published so they don't see like all the work that went in because they're like
00:49:14.220
oh well you know your channel just blew up no i i i published like a thousand videos
00:49:18.540
this is so for me with the crypto shit it was like i i don't try to get i talked to this investor
00:49:24.200
one of my favorite guys on youtube uh more on twitter and his blog his name is aswath damadoran
00:49:29.140
he's a nyu finance professor and he is awesome and he said to me he's like investing is not how
00:49:35.200
you get rich it's how you stay rich and i think unless you're a professional investor unless you're
00:49:39.900
warren buffett and you want to dedicate your life to it which these guys aren't these guys read some
00:49:43.620
bullshit on wsb wall street bets and they go crazy on some trades and they think that's how you're rich
00:49:48.180
and i'm uh i guess more traditionalist where you fucking make money with business or content like
00:49:54.500
on youtube whatever it is and then you stay rich by investing smart and so with crypto uh when it's
00:49:59.540
four hundred dollars in 2015 or whatever that was i put it seven thousand dollars and then i dollar
00:50:03.860
cost average five hundred dollars a month since then um and so my my crypto is now worth like 1.2 or
00:50:09.680
1.3 million and then since then uh i bought i bought i call them lotto tickets because i think
00:50:16.620
they're dumb they're dumb tax uh i don't fully understand it but i have some friends who are now
00:50:20.960
multi-millionaires on crypto and i say hey i'm willing to to risk 10 000 20 000 bucks so what are
00:50:26.340
the stupidest coins or coins that you guys are recommending um so i have like let me pull them
00:50:32.240
up but these are the ones that my friends who are studying it and into it but i'm also not expecting
00:50:36.660
to get rich how often do you throw ten thousand dollars at one of those like is it every every month
00:50:40.540
every week every quarter i'll see to me i you know i think the way that you should approach finances
00:50:46.540
this is from my stepdad is asset allocation so that's how i've always done it which is like how
00:50:51.140
much percent of your net worth do you want in different things so cash real estate equities
00:50:55.300
and risky that's that's how i balance it out and so i went around 15 and risky so up until that point
00:51:00.620
risky to me is anything i'm okay losing so ideally it's something that's risky or i'm would you call
00:51:05.000
bitcoin risky right now uh yeah you still think it's risky like it's still in a risky category for you
00:51:10.360
yeah big time i think the volatility is risky i think people can put in and be like oh it's got
00:51:14.820
to go up it's like people are fucking retarded that i can't say the r word people are stupid
00:51:18.260
when they think stocks no one of the guys on my team tells me not to say this so i'm trying to
00:51:22.060
be better about dude i don't i don't understand this new level of political correctness let me
00:51:26.520
tell you this story you know i was walking with this chick when one time that i was dating you can't
00:51:30.560
even say hey don't say chick richard don't say chick that's my channel i can say chick i was walking
00:51:35.260
with this chick and i don't know i said something like that's retarded and she like stopped and she
00:51:40.180
got really offended and she's like you can't say that word and started like tweaking out and shit
00:51:44.080
and i was like what what sorry why and she you know proceeded to give me this entire like
00:51:49.740
list of reasons i was like okay we're we're just about done here sweetheart anyway back to your story
00:51:55.720
sorry i don't even remember we're going crypto and the risk yes well the risk profile quick plug if
00:52:02.280
you guys have not bought so i have bought straight up richard's book and i really enjoyed it the
00:52:07.220
unplugged alpha so if you guys have not bought it it's a fun read man you have like a really
00:52:11.380
interesting way of talking it's really fresh it's crisp it's not politically correct uh and honestly
00:52:16.360
that that was enjoyable man i am sending the notes i put it on my to-do list for today but i took a
00:52:21.380
bunch of book notes from it and generally if a book is good i have a shit ton of rabbit ears
00:52:25.020
or highlights in my kindle and i had a lot what was your biggest takeaway from the book like
00:52:31.960
you know i think with books it's always interesting what you remember a month later
00:52:37.960
right like the first week off you're like oh i'm gonna do all these things
00:52:41.180
no i do remember talking to you just after you read it you're like you know i'm not sure man
00:52:46.780
i was on a date two weeks ago and i asked the girl i was thinking to myself i was like no are
00:52:53.480
you being a beta here are you being an alpha okay
00:52:55.780
i mean that's kind of from your book dude okay well i got you thinking you know i got you got
00:53:02.020
me thinking i do think about the alpha thing a lot like my friend um no she's right here so but he
00:53:08.140
was doing some stuff and i was like it's pretty alpha man um yeah i don't know i think your book
00:53:14.800
at the end of the day is it's not about not giving fucks because i think we you know we do care if you
00:53:18.540
had if as we become better friends if you had an opinion of me and i'm like i don't give a fuck
00:53:22.320
about anybody like i don't think that's helpful if i think you know potentially you have good
00:53:25.080
advice um i don't know just being more of a man i think it's something we talked about a little bit
00:53:30.200
on the text like what is a man today and not saying you have to do richard's philosophy of it but just
00:53:35.100
at least internalize it and process it there's parts of it and i like that your thing is like
00:53:38.900
be a fucking man yeah that's i mean if you want to get women to respond positively and have the world
00:53:44.600
respond positively to you there's there's certain like there's certain beliefs that we've had
00:53:49.840
crammed down our throat since childhood that we kind of have to give up that are unfortunately not true
00:53:54.680
and that's really what the you know the book is all about is let's kind of dive through a bunch
00:53:59.540
of chapters in a lot of these stories and let's see if we can get some guys some better results out
00:54:04.600
of life yeah well i was just trying to think about like being okay with whatever life that you're you
00:54:10.520
actually want right like like right now i'm dating and i'm like it's kind of fucking great dating so
00:54:15.760
i'm just gonna keep doing that and not being not feel guilted there's jewish guilt but guilted that i
00:54:20.240
have to be in a relationship where i should be making kids right now and stuff like that
00:54:22.660
are you are you planning on getting married and you know having kids is that something that you
00:54:28.100
want to dive into we can dive into that we talk crypto we can talk i mean i'm more into the the
00:54:32.840
crypto stuff but yeah the dating we don't have to leave the crypto yet you want to hang out on
00:54:35.920
crypto we can hang it's your show baby we can do all right oh so okay so question for you so what
00:54:39.900
percentage of your portfolio is bitcoin all right let me pull it up versus the other like alt
00:54:45.700
oh of the alt stuff okay so i think i have about 1.5 million all in with all crypto
00:54:50.660
here i'll just show it because i think sometimes people talk shit and like just show it bitch
00:54:54.800
um all right so this is that it's funny that you can say bitch but you can't say chick
00:55:00.760
dude that's offensive all right so here's one account shut up i'd say about 80 i don't know if
00:55:07.420
you can see it about 80 is in bitcoin okay 80 bitcoin got it yeah it's like uh is it not coming
00:55:14.740
in it's having a hard time focusing you got ether and uniswap and yeah okay so i would say about yeah
00:55:22.320
bitcoin's at 1.187 um i'd say about 90 bitcoin 10 90 bitcoin 88 like ethereum and then i'll tell you
00:55:30.900
the random shit that my friends so one of my friends works at coinbase okay um so he told me to buy
00:55:36.560
uniswap compound and aave their defy tokens are they i don't fully understand them yet i haven't
00:55:43.320
tried to and then my other friend who's worth nine figures on crypto i just said hey what are
00:55:47.280
the random ones you're buying he said buy v chain cardano chain link and polka dot and i have about
00:55:53.080
fifteen thousand dollars into those and at what point will you get out of them like are you going
00:55:57.460
to get out at a certain percentage increase are you going to wait for everybody to call you and say
00:56:01.220
here sell it now or are you just going to hold on to it and let the cream rise to the top
00:56:05.320
yeah this is stuff i'm never selling i've never i've sold half of bitcoin a month ago to experience
00:56:10.900
it when it was at 40 but that was the only thing i've ever sold and i reinvested it back in
00:56:15.900
and i don't think i'll sell ever again i don't have a plan honestly i don't have a plan to i don't
00:56:20.440
need the money it's kind of funny money to me like the fact that it's this high is still kind of
00:56:24.340
crazy what do you think of michael saylor's um position that bitcoin's like digital real estate
00:56:29.700
i don't know if you've you know heard him talk about that i think if it serves his purpose it's
00:56:36.240
interesting you know like he's there because he you know makes it good i that's the kind of thing
00:56:41.900
i worry about all this nft stuff because it's like i feel like it's people just trying to make it
00:56:46.600
valuable like oh it's digital and it's exclusive it's on the blockchain and you can invest in it i'm
00:56:50.860
like well is it really are we just stupid asses following other stupid asses do you think that
00:56:55.920
bitcoin will like what's your prediction for the value of bitcoin by the end of this year
00:57:00.580
let me take let me take one step back on this so my friend who i'm staying with
00:57:05.180
i went to the room before this chat and he his bank locked his account they locked his funds
00:57:12.040
they locked he has chase fiat funds okay yeah his cash so in chase he logged in and his funds are
00:57:18.740
locked why did they do that they said that the state the state that he's from didn't like
00:57:24.180
something he did so they just called the bank and had it locked these certain funds and my
00:57:27.680
friend's like i'm not a shady ass dude at all he's straight up legit like i would put my life on it
00:57:31.280
like this guy's straight and so that's concerning to me well that can never happen with bitcoin when
00:57:37.320
you have your own keys on your cold storage wallet right exactly so if you're on coinbase there's some
00:57:41.520
concern which i am on a lot is on coinbase uh which i'm moving off shortly so there's concern but
00:57:46.840
the thing is crypto is like that's kind of nice that no company no uh government can just take my
00:57:51.740
money and freeze my ass um price predictions i don't i don't do price predictions because i don't
00:57:57.000
know and i don't i don't really think about it that way it could be worse i mean this could be
00:58:00.180
like a south american country or like uh i don't know uh what happened in cyprus where the banks just
00:58:05.400
basically took your money out of your bank account because they felt like it i think one thing that
00:58:09.540
that blows my mind about americans is how naive i am and we are that we're just going to be the best
00:58:15.260
forever like if you will look at history and i haven't done it extensively i think it'd be
00:58:19.520
interesting to talk more historians like civilizations fail the great people fall but for some reason
00:58:25.060
we're like we're america we're great forever uh and i think that that kind of goes the same for our
00:58:29.040
currency so i tweeted this out shortly after tesla bought 1.5 billion dollars worth of bitcoin because
00:58:36.620
it was only worth 10 of their cash and between apple microsoft alphabet facebook and amazon which would
00:58:42.700
be the top five uh listed companies that's interesting holding cash right now you've got
00:58:48.160
uh one two three four five that's a great tweet i'm gonna go retweet that dude it's basically about
00:58:53.520
600 billion dollars worth of cash they're sitting on 600 billion dollars worth of cash and if they
00:58:58.640
were to do the same thing that tells today which was convert 10 of their cash holdings into bitcoin
00:59:02.780
what do you think that would do to the value of the bitcoin and i think it's going to happen
00:59:05.860
over the next couple months because sailor just gave out the playbook to all these corporations
00:59:10.740
in his recent conference right so i will tell you i messaged our leadership team at app sumo we're
00:59:16.840
gonna probably put a million in from our company um i think it makes sense just gonna do slow clap
00:59:22.840
just gonna do slow clap thank you thank you for doing your part we're gonna put about a million in
00:59:28.320
um i believe in it like that's why i put it in a long time ago i think there's something really
00:59:33.200
interesting that there's a universal currency across the entire world that's not run by the u.s
00:59:37.000
government and i think there's a lot of promise on it so i think i'm still curious if it's going
00:59:42.500
to be used as a medium of exchange or store value and stuff that honestly i don't really debate or
00:59:47.000
like get too uh into the weeds of i'm just like it's interesting and i like parts of it but i like it
00:59:52.240
yeah um the only thing i don't like about it right now is is it's is it takes a while to do like
00:59:58.380
transfer still but um that's okay i just look at it as a store of value i'm not really looking at it
01:00:03.620
as a form of currency uh pedro sends a super chat he has a question on average how many close friends
01:00:09.580
does an entrepreneur have or spend time with i have 18 you know that like boom i do like because
01:00:17.920
every quarter i do a council of wise men meeting via zoom and we have a zoom call where the council
01:00:23.420
gets together sometimes it's them just giving me advice and other times it's just us talking life
01:00:27.640
but it's 18 guys can you can you name the 18 guys you can try uh my brother seth kagan eric southwell
01:00:36.380
who i'm staying with marty modiyama uh my best friend from high school works at stripe uh boris
01:00:41.400
korsansky one of the first people at lyft john ross ray's high school friend works at amazon
01:00:45.560
lives in dallas um brian cotlier from the bay area uh adam gilbert lloyd uh lloyd armbra
01:00:57.560
christ shit getting close to nine that's pretty impressive i can't damn well halfway through
01:01:02.140
yeah hold on well i can go further it just takes a little bit more time but i mean like the point
01:01:06.160
being is that he's basically asking about your circle of influence influence i mean um i could
01:01:11.720
probably name on one or two hands my my closest friends but they would have all have been from
01:01:16.760
my time with eo and eoa but mostly eo i don't know if you ever joined like an entrepreneur's
01:01:21.640
organization like do you ever look for those or i've tried i didn't find the people there
01:01:26.000
interesting but i will say that my success is 90 from the people i'm around and this is going to
01:01:32.800
sound offensive but i don't really have poor friends well i don't even know that's offensive
01:01:37.160
but i just like i was talking to a friend there's going to be some people that would be offended by
01:01:40.240
that but that's they're fucking offended by everything that's why i appreciate you at least
01:01:43.440
because like i i'm still on like i think i'm pretty out there but not as far out there as you and i
01:01:47.560
admire that in terms of what i'm like i feel like the r word i can't say that because dean doesn't like
01:01:52.340
it but for example my friend joe who's aka crypto joe he runs unchained capital uh he's one of the
01:01:58.180
council he was talking to a friend in alaska that's where he's from who's a fireman and he asked me he's
01:02:03.320
like do you have any friends that are not like super successful and i was like no and i didn't really
01:02:07.980
ever i never really thought about that but it's not just about money because i'm not a flashy
01:02:10.940
i don't have all this fancy shit like i have nice stuff um but i think it's more i i try to be
01:02:17.200
around people i admire or people that i'm impressed with uh and so like my buddy neville mador he's on
01:02:22.260
the council like he's one of the best copywriters online and he's just a really happy creative
01:02:26.300
person and so i think i'm more intentional than most people about removing people for my life and
01:02:32.560
just being very intentional about like those are people that are fucking amazing so i'm gonna do
01:02:35.480
whatever i can to like i flew to puerto rico to spend more time with eric what is the yardstick that
01:02:40.040
you use to like because what you're talking about basically is drawing a perimeter around yourself
01:02:47.080
and saying you guys are on the outside and these guys are on the inside so it's us versus them
01:02:51.640
which is totally fine and when we talked on the phone last month i said read jack donovan because
01:02:57.220
he talks about masculinity and uh men's nature and uh you know like the tribal nature of men right
01:03:03.080
so um what like what yardstick do you use to measure like is it is it the level of their wealth is
01:03:09.060
what they do for a living is it the is it like a sniff test like you know i like this guy you know
01:03:13.840
sort of thing like what do you use it has nothing to do with wealth because i have friends who are
01:03:18.000
billionaire it just so happens to be that they are wealthy yeah i have friends who are billionaires i
01:03:21.780
have friends who are 100 millionaires i have friends who are like you know single millionaires
01:03:25.240
um the money has nothing to do with it the money is more indicative of what they've done to get to
01:03:29.840
that level so it's like hey i'm doing they're doing interesting shit that i'm impressed with
01:03:35.300
and i would say it's probably just two things like are they impressive and then are they happy
01:03:40.420
like because i think i'm a little bit of a neurotic critical person where like i can go
01:03:45.200
through swings of emotions but more than most i think people have different wavelengths of that
01:03:49.520
and so i really even if they're like really impressive but they're kind of debbie downers
01:03:53.440
then i don't i won't hang out something like that and so i'd say the majority of my friends like
01:03:57.760
if you met them it's probably one of the things i'm most proud of like my friends are fucking
01:04:00.460
impressive they're just like awesome like oh sorry i was going to ask you are you fastidious
01:04:05.020
about removing people from your us versus them council if you find they cross like a bottom line
01:04:10.760
those people that are in the 18 like they'll never be out okay i don't know there's people that i mean
01:04:16.960
there's going to be people that have come and go gone like over the years i would imagine that you
01:04:20.500
might have been close with and you're like nope that guy double crossed me that guy whatever
01:04:23.600
he's now on on the them side of the wall i think one thing i've used i'll tell you two two
01:04:29.300
experiences i think there's one thing i've learned as i've gotten older is that there's
01:04:32.140
there's acquaintances and being okay that they're an acquaintance and not a friend
01:04:35.540
um i had a friend who's a an old you know keith farazi's book never eat alone is a good book on
01:04:41.180
how to make friends and networking stuff like that but one of the things i think he talked about was
01:04:45.240
that like there's old friends so i have an old i have two i have three old friends one of them
01:04:50.060
i like every time i talked to her it was kind of negative and it was kind of critical of me
01:04:53.780
you know like i wished her a shabbat shalom on a friday and she's like why do you want to keep in touch
01:04:57.840
like what's the point of this and i was like well fuck you then like and i stopped no this is that's
01:05:03.920
what i did i was like well fuck you then like i'm making an effort to try to stay connected try to
01:05:07.380
open our communication and have our you know stay as a close friend and it just wasn't there and i
01:05:11.660
have i have friends outside of 18 like these are like yes how many close friends that's exactly my
01:05:17.140
number but there are people that are like you know super famous like everyone in the chat or everyone
01:05:22.040
knows them that i'm acquaintances with but would i call them if i was in a fucking emergency hell no
01:05:27.120
and i think that's something that uh you know if you have all these famous successful friends
01:05:32.700
doesn't mean that they're actually great friends if if one of the 18 would come to your front door
01:05:38.160
at two o'clock in the morning and have a shovel in his hand and say hey i got a body in the trunk i
01:05:43.280
need help would you probably not okay probably are there are there any of the 18 that you would do it
01:05:50.780
for i don't think i would risk my life for that got it i mean i would risk financially a body
01:05:57.280
now like i've had two of them i've loaned like 300 and 400 000 without really no agreements no
01:06:03.620
nothing and then they're just like hey i need to borrow this money and i was like okay
01:06:05.860
i think going to jail or risking my life for them probably not got it interesting this has been a fun
01:06:13.380
talk no that is that's good oh man but i go to dive on are you gonna think about that now for a bit
01:06:18.540
well i have one friend one of my best friends adam gilbert he runs my body tutor.com what about your
01:06:23.440
brother what if your brother showed up at the front door you know with a shovel i don't man i gotta get
01:06:27.820
rid of this thing it's in the trunk help me out i need to think about no i'd say no no i mean i i would
01:06:33.240
i'd probably try to brainstorm with them you're gonna try to problem solve it as an entrepreneur hang
01:06:38.620
on there's got to be another solution here well i'd probably like hey my assistant can be like
01:06:42.840
distance and my assistant will go do it uh we will hire someone on task rabbit
01:06:50.520
like oh god i'm trying to hold on so you if your brother came to you and he's like i got a body in the
01:06:58.340
trunk i i would not even fucking skip a beat i'd throw my jack be like let's go bitch let's
01:07:04.740
fucking do this so what level of friendship like so if one i don't know why that your
01:07:08.500
brother's killing people that's probably something that doesn't matter doesn't matter
01:07:11.360
it then you know his problem is my problem hon so who would you do that for my brother
01:07:16.960
both of my brothers actually i've got two what about other close friends um i'd have to think
01:07:23.360
about that it depends who it is i definitely would put it out on task rabbit or anything like that
01:07:29.960
no but i it's not i don't think it makes you more of a man than me it's just interesting what
01:07:34.320
level you're willing to go for for these people that's i i think something i will tell you that
01:07:39.240
i've been really reflecting on richard yeah i've really been reflecting how selfish i am not just
01:07:44.400
this not because i won't fucking bury bodies like that's a bullshit one to me but like i don't know
01:07:49.000
if i'll just speak for myself i don't know if i was always as happy for others it's like they're
01:07:52.960
happy for me which is some real fucking real like in internal shit that i think other people have
01:07:58.240
too which is oh they made my friend got rich fuck i wish i was more rich or my friend got more
01:08:03.240
crypto and he did all that stuff or it's it actually it i kind of not solved it but it really
01:08:09.200
hit me home when one of my best friends one of my best in this in the circle his wife got pregnant
01:08:14.980
and my first thought was not like so happy for this fucking guy which is what it you know i guess
01:08:19.800
should be it was like i'm jealous like this guy's so much further ahead in life than i am um and that
01:08:25.660
was a fucking dude that was like a wake-up call to me to be like you need to check your shit no
01:08:29.100
like this is your best dude like he would i don't know if he'd bury bodies but he would go
01:08:32.580
really fucking far for me i don't i don't get excited when i find out that somebody's like
01:08:36.560
pregnant like i don't know not pregnant not that i don't give a shit about somebody else's kids like
01:08:40.320
i care about my kid right no no i don't know i feel that but you know like let's say like your
01:08:44.200
buddy had this level of success you wanted and it's just like it was interesting to just notice
01:08:50.060
it doesn't have to be the kid that could be anything and it was just like oh no you're
01:08:52.720
these are people that you should be happy for like if i got pregnant or got money or whatever
01:08:57.020
they'd be so fucking happy for me well well here's what's interesting about that because i had a
01:09:00.760
mentor once it said what watch what your close friends do when you're successful if they're not
01:09:05.980
celebrating with you ask yourself why right i think that's fucking great man and so i think
01:09:12.280
they could be surface level like i'm happy for you but uh i will say that that made me really reflect
01:09:17.760
on like hey why am i not happy with myself because i am it's this fucking thing and so i just sat with
01:09:23.060
it for a while and i've still like processing but it's it is just like it's more like what did i feel
01:09:27.000
like i was lacking and like and i was like hey i'm actually not lacking a baby if i want to go get
01:09:31.120
someone pregnant i can go put my dick in people get someone pregnant that's pretty easy yeah yeah
01:09:35.180
it's doable yeah it's just it's just choosing the right one so you don't stick your dick and crazy
01:09:40.100
and then create a whole bunch of other problems on the back end they're all crazy just to what level
01:09:44.300
yeah i agree and so yeah so with that it was just more a bit you know starting to work on being more
01:09:49.100
satisfied with everything i have the money i have the house i have like not necessarily starting to feel
01:09:53.380
like oh i need more things to finally feel fucking good and it's honestly since then it's been feeling
01:09:57.320
a lot fucking better let's um let's wrap it up on that note because um i gotta get moving i want to
01:10:02.820
respect your time as well but this has been a slice i really enjoy talking you know so uh where's the
01:10:07.680
best place for people to go and find you and what you do do you want to send them over to youtube or
01:10:11.060
yeah if you're on the youtube world youtube.com slash okay door go subscribe and then
01:10:15.000
app soon.com uh if you're starting or growing any online business and um guys i know that some of you
01:10:21.560
have been asking me to put this on podcast forum somebody uh even mentioned put on on spotify
01:10:26.240
um i'll be working towards this this is this is still one of my favorite playlists to work on
01:10:31.080
i really like having these conversations with interesting people so look forward to that in
01:10:34.880
the future but uh no yeah appreciate it greatly thanks for uh you know being so generous for your
01:10:39.720
time and uh being so open with the conversation it's it's been a slice thanks man all right brother