#131 - The Companies We Would Buy and Fix and A Multi-Million Dollar Rapper Snack Business

u yeah i feel like i could rule where i know i could be what i want to put at all in it like the days off on a road travel never looking back live we live what's up sam i'll bring you what did you say sam looks like looks like the male elizabeth holmes he's got a very very nice black turtleneck looking being on no it's just a it's a collar i'm just being prep today alright what what do you talk about i'm sitting here in my office you know jack butcher from visualize value yep he i went to his house in nashville and him and my wife and him and my wife and his wife all became buddies and now he just arrived in austin he's gonna be celebrating thanksgiving with us he's right in the other room here amazing just so i'm happy he's here love it buddy's we could we became buddy's fast by the way do you like this new little studio setup yeah looks very slick does it look good day getting better yeah alright good let's get into it you i by the way i love how much time you spend improving the visual of your podcast video given that one can see it that's i didn't really think about that it's fucked up does it sound good at least it does sound good yeah because that's it like we put carpet and stuff in here to make it sound good before it sounded like so echo so hopefully it sounds good okay you wanna talk about some of the stuff can we talk about the the first thing being your the cha or what's the name cha yeah let's yeah cha jamal tweet yeah go ahead so you put out a tweet the other day and cha jamal is probably one of the five to ten people i have twitter notifications on for i get like a text message basically whenever they tweet which pretty annoying but it's like you know you you get you get all the good stuff so for for some people who are are very putting out high signal and low noise it's good so he put out a tweet that said what's interesting cash flowing public company that could be super supercharged if i could get a hold of it and help revamp its technology and go to market basically what's a public company that's got good cash flows that i could buy and i could use technology to to super charge the growth and so good question and then because he's tomorrow i think it's a bunch of replies of people doing sort of free free homework forum you know they're his free associates and so i thought this thread was great and i spent like you know forty five minutes in this one thread just learning different stuff and looking at these different companies and you know i think somebody could easily spend twelve hours in this thread and learn a whole bunch and and publish what you learned and probably get you know a job month if you wanted to but what did you think of this yeah so i only saw the tweet i didn't read any of the replies okay by the way on twitter does do your replies sort by most popular yeah i think so mine don't so i don't most popular but it's some algorithm for sure i don't have that so i i don't really i didn't sort through the comments but how about this let's go back and forth and we'll name one and then you i'll name one you name one and we'll go back and forth and it's okay if yours are stolen none a mine are stolen but that also means none a mine are maybe that good so all of mine are stolen but what it means is that i didn't do the homework so i'm gonna know pretty nothing more than just what they said in the tweet i'll just read their tweet essentially as my own okay let me tell you one and this one mine are either gonna be incredibly obvious or just really stupid so sorry okay casper mattresses okay have you seen their mar like have you seen their market cap no what is it two billion one billion no dude less no wasn't a billion yes keep going three hundred million dollars is it no two fifty two hundred fifty million dollar market cap with like five hundred million dollars in sales a year okay but why would month wanna buy a trash company like casper bet it's not a trash driver it's just shouldn't be in new york i would buy it you should buy it and fire every single person and move them to utah tell me why a mattress company has customer service people who are hips sir yeah right give hips serves out of brooklyn or in manhattan you don't need that this is the problem they're essentially their office of g and a expenses or is it that the mattress and shipping a mattress and doing the dealing with returns is really expensive and that's the problem he could figure it out matt see i like i told you none of my my ideas aren't necessarily gonna be okay i like it that that i would say i'm gonna say no on that because i don't think that that technology i think they are a technology native company i went the other way think looking at the dinosaur companies that have i have a i a strong brands strong cash flows sometimes small strong real estate and they just don't have technology dna that's where i went with this but okay well you wanna do another one or you want me to go yeah let me do another one k okay this one it doesn't necessarily fit because i think it's still privately owned but it it's probably owned by i think it's owned by a bank okay so that's like subway okay tell me why okay here's why did you know that there are more subways than mcdonald's and starbucks combined i didn't know that so okay well so it's the largest i think i believe by location it's the largest food chain in america great brand everyone knows subway you know you say subway everyone knows what it means they're incredibly cheap to open the reason why there's so many of them is a little town in alabama may not have a mcdonald's because that's that requires a a proper well subway just is two people and a like a easy bake oven like a little like you know microwave oven and it's really easy now the reason why it's interesting is is i think that their quality right now is horrendous the subway like the logistic there there's something wrong with their logistical with their with their chain of their supply chain that they can't get quality ingredients to the location yeah nothing is fresh anymore and like that's their shit yes and but it's still a great brand it's even though they've been a horrible brand for like fifteen years all of us who are in our thirties and forties now grew up thinking in that subway was like the chipotle right back then like it's a healthy alternative which is no longer is so i think i i i would be very interested in buying subway and i think there's a lot of things that you could do in the back end to make that business incredibly more efficient okay i don't hate the subway call i still don't think i still think you're thinking in the same vein like you're taking a brand that's known for x accents i do x better rather than okay i'll give you an example here okay but let me give you a good one here so i found this in the thread should i even try to give credit i try to find who said this may maybe maybe not okay so the one idea is western union the okay so this the person who tweeted this back is main street investor they're they're ad handles new money fc fc good ma'am i like it so he said western union here's why growing digital footprint t revenue growth strong free your cash flow and no other bets and i think that's the key there's no like growth bets really in western union and so you know basically showed for for twenty twenty a billion dollars of fee free cash flow on five billion of revenue so that's pretty good and then they basically the they talked about some of the assets that they have so they are operating already and they have compliance in two hundred countries that would take you a long time to buy into or grow into so they already have that they have a network of five hundred thousand agents already in all these different countries for you to do business with that's really critical and then you know it has a billion in cash and and three billion in long term debt and so so western union here's the the play with western union you have cha who at one point owned five percent of all bitcoin that was out there and you have western union did he really yeah i don't i don't know does but at at one point he he owned five percent of the market cap of of bitcoin he had accumulated a pretty big position this is according to him i don't know if this is an audited statement but i heard him say it at a talk so then you have western union which is all about money transfer on legacy legacy systems and it's for international remit of currency which is actually the one thing that bitcoin can do really really well and so i think you basically take western union and then you pair it as the the bitcoin brand and so you you have all these agents in all these different countries where they have weak currencies you know you go to uganda or wherever else and you have western union as a known brand over there which is one of the few western brands that's known internationally it's known as a trusted financial partner which gets over the the hump with bitcoin which is this new kinda of scary thing and you basically inject you basically turn western union into a bitcoin remit network over time starting small and then going bigger so i think this is a great way to become the sort of international bitcoin bitcoin merchant and network using western union as your trojan horse and let me look up the western union mark market cap so let's while you're looking it up let's let's look at what why like i i usually default to like oh yeah why could this work but let's actually ask ourselves why this can't work by the way eight billion is the what market cap so western union pretty shit brand like they're known for being like reliable but like to put crude like this is what you use when you're really poor well that's that's the market for that's the market that they have is people who need you know need money transfers like this totally and it's typically like in bad neighborhoods it's it's like poor low income people right like it's opportunity word opportunity over and over again in my head that's all i'm hearing dude i'm might just hearing an opportunity opportunity opportunity and look i agree you can there's opportunity everywhere but my point is is that would that market truly embrace bitcoin so the thing is you could make it where either bitcoin is getting to that point where people are curious enough and if you make an easy on ramp that's what people always talk about on ramps and off ramps with bitcoin how do make it easy to buy how do you it easy to take your bitcoin and get cash out the get cash that you want with it that's what western your union is it's a network of on ramps and off ramps so i like that the other thing you could do is you could sort of mask it so you could basically make it you could make it a more user friendly product that just uses bitcoin as the rails and so you you could you'd make be able to skip the step of engineering but i would just go for the education component of it because i think enough people are interest in bitcoin and i also think that the kinda of bad neighborhoods thing that's the that's the us perspective i'm talking about countries where there it's just a bad the whole country a bad neighborhood and and so you that's where western union is on the other side of you know that's the other side of the tunnel when you send send money through western union is typically to countries with really poor financial infrastructure poor currency controls that sort of thing that's who needs bitcoin another thing about buying a company like western union is that you probably have a ton like a hundreds of people in upper management who have been worked there for probably twenty years and it's like can you teach it all dog nut tricks or do you just gotta fire every mattresses baby we're cutting heads over at western union again okay so if you're gonna do this everyone's like there's so much opportunity but you gotta think like you're gonna have to fire also a ton of people yeah it's gonna be a headache you're gonna get lawsuits the yellow color we're brighten it up we're we're rebranding we're really we're doing everything here so we are heads are gonna roll rebranding the whole name might change to western coin soon and and it's gonna be about trans transmitting i'm just saying these people probably all look like my aunt uncle you're gonna have a lot of angry karen and and it what's severance package off on the left over here you you can collect six months of severance and see you later i'm getting a bunch of crypto nerds in here and we're taking over it's alright that's an interesting one what are other ideas that it's pretty good it's a pretty good idea i think now not like i i would be on i wouldn't bet my own money because we're just shooting the shit but it's it's quite interesting okay here's another one cvs this was the top reply and the threat no way and what okay so let me give you the the the person dude cvs is booming they're they're great they don't need him so post post market so post square market is her handle she's actually very interesting she has very good good tweets so she said cvs has fifteen billion of cash flow has touch points with a hundred million consumers and store base of nine thousand stores for distribution for you so this is the whole foods amazon playbook and so basically it's health care is the most attractive vertical with the largest profit pool they have the tools to win an amazon dominate a world so jam martha's is known to be very interested in health care i think one of his specs just took clover health public as well he invest in like a diabetes company and some others and so now there's some problems with cvs which is that like he said cbs is doing well so cbs market cap is like a eighty billion so not a realistic target to take take out take private take over so he he actually responded in the thread and said what about cash tag ra d which is rite aid whatever about rite aid instead rite aid is kinda interesting right it's you know the poor man cvs and i think rite aid is like a five hundred ish million market cap company that has many of the same properties just with a smaller footprint overall and so here's the play we do we we we take sam's original idea with the subway no no no we need not something we need like a blockbuster we need someone who's going out of business and we're gonna take rite aid the brand and then we're gonna pick up real estate footprint of some brand that just died during covid and they like doubt you know some dollar store or like you know sears i don't know who somebody's going out of business but it has the same sears too you need somebody who's the same footprint as of rite aid we're gonna do a roll up of those two and we're gonna offer the sort of mobile ordering delivery door dash style service for prescriptions and and products from rite aid give me your thoughts and passport photos which is why people go to cvs and walgreens and stuff as well to take passport photos we're gonna come to your house and take a picture of you how big is friday i i mean they're are they public five six hundred million five hundred million dollars that's twenty cap it's fucking steal yeah cool idea how many locations like how much how i feel like their real estate would be worth close to that they may not own the main east right so okay so it's a six hundred million dollar company net operating cash flow twenty twenty five hundred million dollars free cash flow three hundred thirty million dollars i don't understand public companies how was a how how's a company that's got you know three hundred million of free cash flow and you know five hundred million dollars of net operating cash flow yeah i don't know anything about that either i mean i would wonder how much debt they have some someone who smarter than me about how public companies are valued tell me tell me about all this but but i like the idea i like the idea of taking something that has going for something as a a wide real real estate footprint in a space you care about like health care and then trying to modernize it by offering some of the things that the digital pharmacies are doing and and and try to go that route that one's a good one what else was good one other one i liked this was actually my idea but somebody in the thread also was thinking about it which is a brand that i find hilarious and that's toot etsy role so toot roll is a very interesting company i i don't know if i ever tell you about the toot roll stock tip i got no but wait did that the one that mo talked about i talked about it with him yeah yes i i've heard about this through the the grapevine virus so so there was so several years ago and by the way this turned out to just be very lucky timing there was no actual intelligence behind us by several years ago like twenty seventeen ish toot role was like i don't know thirty five dollars a share and i saw this youtube video of this guy who was like on cnbc and were asking all these he's like what do you think about the global economy he's like i don't know about any of that but i'll tell you one thing dead stock toot roll he's like i'm shortened toot role big and i was like what this came out of nowhere and he's like i'm short toot roll he goes do you know anyone under the age of forty who likes toot rolls and he's like yeah it's sam is san but he's like he's a kids don't like toot rolls then even know about toot he goes toot owned by this woman who is ninety years old or whatever she's never gonna sell the company she refuses to sell over her dead body so there's no sale possible revenue gonna go down because nobody likes toot roll and as i was listening to this i was like yeah dude toot rolls are gross and so i shorted the stock this is my first stock i ever shorted and it crashed it went down to like whatever not not a huge crash but it it went down like five six dollars a share and i made a bunch of money and i immediately sold it and i got out and since then by the way the stock is up so it wasn't a long term thing but ever since then i've just always looked at this toot stocks so is worth two billion dollars and it is actually a big brand but it is so outdated in every way and it doesn't do i love toot roll by the way wish i had a toot role right now i feel like they don't do any of the things that like m and m's and skittles and others candies do to stay relevant with like the younger generation of like you know partnering with young pop stars like coming out with new variations new holiday themes like you know i feel like does nothing and so the idea be to buy toot etsy rollout and bring it back with like hire like the best marketing agency of all time and bring it back with the vengeance using tiktok as distribution what's their what's market cap two billion it's it's expensive what's five hundred or sorry two billion yeah two billion not bad it's expensive wow but i think wow that's not not too one these other brands right hershey hershey's i think sold for twenty billion or something like that there's basically several candy brands if you follow the trail of candy brands they're all they all get like sold to the same doing mon and whoever toot rolls it's a good idea here's why okay so they own toot rolls obviously they own fruit i love fruity okay they own dots you know dots dude i even know what fruit is i don't know what kind of you know middle america candies you eat that it's some redneck next shit that i eat do they own like as well that i feel like that would be a brand that they would own no they own sugar daddy you know sugar daddy no and sugar baby no do you know dots yes dots is like what what you get the movie theater i love dots how about andes chocolate mint don't know yeah the little they're like in a green dude everything in their portfolio is outdated dude andy is what you get at the restaurant it's like the green thing that you get at the restaurant like a peppermint it's kind kinda like that but they also own they own junior mint they own charleston chew they own charms blow pop i mean i wish people could see the excitement in your face right out like this like when you meet someone and you have five friends in common i feel like that's what's happening right now with you the brand double bubble they own double bubble dude you're crazy this is a good so there's some good stuff these i would i would partner with wrappers and make very clever songs i get my candy name dropped in every single song double bubble that should be a rap song altogether i would sugar it out i'll try to bring it back make it culturally relevant again and and and bring bring this candy back to the mainstream and then by the way you you actually don't need to do any of that stuff you just need to not be this ninety year old lady and then you need to sell the business she just to sell no no i don't think she is is she yeah toot ceo dies at ninety five we may never know my my info is outdated here this is back from three or four years ago she dead so so who owns it know why didn't this sell well it's publicly traded i mean i don't know it's got a ceo i don't know man i'm looking at this shit on the spot but i'm wikipedia it's that she's dead there's been all this candy movement these candy roll ups that are going on and i'm surprised that toot role hasn't gotten in on the action but that's why way the candy companies i think hershey's and mars i think those are like two like i think they're both in the top ten of privately held companies in america in terms of size interesting like i have a lot like candy businesses are cool yeah i mean buffett is sort of famous for being in the seas candy business and yeah okay but how about that you wanna talk about no one toot who goes the seas candy well does c's candy own other brands that are like very popular like they own m and m's or something like that because he's always hitting m m's m m he's he's he's eating an m and m's are drink coca cola so i assume they're he only like consumes his portfolio so so i i feel like no sees candy is owned by or they own the they own those all the the fan yeah i think that's fine but like it's not like i'd rather have a butter than a seize candy yeah anyway i mean i mean into the candy space i think there's opportunity in the candy space but i agree with you like when you has there been and like there's lots of like d healthy shit but has there been a new a like i remember when i did my cross country trip on my motorcycle in two thousand and twelve i remember going to like rural alabama or rural oklahoma i hadn't seen anyone in a hundred miles and then rural minnesota and then manhattan and then miami i went always these places and i'm like they all have the same candy like there's snickers and m and m's and hershey in all these places and then i went to mexico and then europe and then all over the place my sister was in africa and i i was talking to her and i was like she like yeah m and m's freaking everywhere like i'm like how like that's pretty crazy how ubiquitous some of these brands are right it's just phenomenal right that you go like we think that each region is different it's not we all like we're kinda similar and we all got the same stuff and i started thinking about that in the scope of business and i'm like that actually seems like why has there not been that many new entrants into the candy bar space i mean there's been like cliff bars and healthy stuff but not like so i was really think about this like an hour ago when i thought of the toot thing i was like dude why are all these d brands trying to be like the vegan sugar free gluten free candy it's like go for the junk food go for addictive you know delicious indulge have fun you know get a little wild candies and i can't remember the last one of those that came out and so i i remember one of them which one wrap snacks okay i don't know what the that one is i don't like that no wrap snacks are oh it's started ninety four i i had it when i was kid i still eat it your snacks recent i know they take wrappers like juvenile or mig or cardio snacks yeah wraps great this it's like honey drip butter popcorn by like elliott elliot and like notorious b honey jalapeno pop or a little boo louisiana heat potato chips okay so this is this is pretty much the exact idea was gonna pitch you which is you buy going back to buying legacy brands so you go buy warhead do you remember warhead yeah so you go by warhead and warhead are are amazing i don't know but when i was in like sixth grade like warhead were the shit in my school it was like pokemon cars and warhead those are like the two ways that you could that's like you know that was gucci and product as far as i was concerned in my school you if you're carrying that you were cool and so warhead are kinda out of fashion now but i think you could take that same product that extreme sour product and rebranding it and go partner i would go to clutch sports and i'd be like hey lebron we need like fifteen nba athletes or each gonna get your own warhead flavor blah lebron you're the you're the black warhead you're the craziest most sour one and then we're gonna go get you know anthony davis and jan and the other guys to be the other flavors and then i would go to jake paul for the next season i'd be like hey logan you're the black warhead jake paul you're the red one and then we're gonna go get the other team ten guys and i would just keep basically licensing influential people and make the warhead packaging you know their head basically and it and and that those would be the different flavors they'd all be limited edition and i would i would go that route i'm into i think that would be killer i i i really liked for these ideas what else is there in the candy space like there there's just not much movement sour with a dab of ranch was that rap snacks have rap snacks so good the one what's a doctor p or what's the fuck name doctor drake master p no the master what's master p sun name he has one little romeo little romeo romeo that he was he made it popular there's little romeo wrap snacks that's what i see when i was a kid the the that was the cool one okay that wrap thing the other brand i would do this with is ramen cup like cup noodles there's a picture on the wrap snacks website that's e forty prime rib icon ramen noodles and it's just a branded version of the ramen noodle thing and you know the ramen noodle ramen i think it's eaten by a certain demographic of sort of like kind of like the college student or like low income like because it's like you know it's the cheapest way to get a bunch of calories basically it doesn't taste you know great but doesn't taste horrible either and so i would basically take the any of these products that are generically branded or they look like kinda like ramen it's like this asian looking brand doesn't really you know like have much of a of a of a standout presence and i would just clone the product and slap you know different celebrity faces on on those products i'm into it i love this idea i i've just i've always been thinking about like mean i've been thinking about this for years i'm like why do we not have like when you think about the innovation that has come out of candy like it's been like m and m's having peanut butter and crisp and like you know how m and m's has all those different flavors now yeah or like peanut or or or or peanut butter cups having christmas tree or like there's it's very there's like they don't do a lot of new shit ever okay so did you know the story of wrap snacks no i did it have some to do it at masterpiece yes master masterpiece i think he bought it right basically they went into the chip industry so not exactly candy so so somebody named james lindsay part james lindsay partnered with master p to put somebody my hip hop make stars on bags of chips and so this article wednesday this article so this from twenty twenty so so this may be you know put some water to cool down on my idea i don't think it's that big so basically it said they're in for four thousand they only sell it like in the midwest and the south where like i they're they have it at all the stores right where i grew up right so they said you know they they started this in ninety four like you said i can't believe you even knew this by the way you have the most random collection of knowledge i've ever seen and then two thousand eleven things slowed down and then they were just kind of operating in three or four markets and then they came back in twenty sixteen and they launched nationwide basically not nationwide but like a much bigger part of the now they're in four thousand walmart stores nationwide and they say it's grown into a five million dollar business which seems really really that's wrong brother this big rap snacks snacks reported i don't know what that means no rap snacks makes at least a hundred million a year dude like every store in saint louis has them let's let's see if we can do a quick i i believe you it's like it's huge and they have like ti snacks and they've got like juvenile they got mig goes i love it okay i love reps thirty thirty bought seventy like four weeks ago thirty million in revenue in twenty nineteen you bought ra snacks recently yeah dude i love rats snacks taste are you think they're cool they're just generic chips they're just cool i was with sarah and she likes cardi b i got her some cardi b rap snacks brought dog like come in this isn't like hard to understand i would also be interested in starting a line where i just got the brands that we would all eat for lunch so like bo sticks or like pizza sticks or hot fries and cheddar fries yeah we have what's dunk doing nowadays alright so let's move on but i'm into the legacy brand legacy legacy food brand rebranding as do do you know who did a really good job of buying an old brand and making completely different was with ty lopez s no what what what do they do s you know what s is no the guy who started fossil watch he's a greek guy and he's american greek i think i don't wanna pronounce his name because it it's like a really hard greek name for me to say tom something fossil watch went public he became a billionaire he then started s and s is a very or used to be a famous american brand and their their tag phrase or tagline was you don't know shit about s and i don't know why that was their phrase actually but that was their their tagline and originally was a shoe polish business but s it it had the coolest logo and so he bought it the logo and the brand which i don't know what bought me like i don't know what there was to buy and then he turned it into a watch company and at this point they make watch it they put i branding on watches basketball some electronics like electrical cords which is weird notebooks right and it's like a half a billion dollar company interesting i'll like it which one you wanna go to do you show you wanna talk about bitcoin it's kinda nerdy but i'll just get i'll just shout it out okay so there's a blog post you should google called nine charts about why bitcoin is different this time and i think it's important because a i'm in into bitcoin but b it's hard to differentiate between when something is actually here when there's substance versus just hype and what this shows is that bitcoin has arrived at the like eighteen it's about eighteen thousand and a half now per bitcoin and that's just about the all time high where it was it hit twenty thousand a few years ago and then it crashed so people wanna know is it just gonna crash again or is it just high speculation what's causing this and i thought this guy did a good job of looking at some of the fundamentals a bit bitcoin and it's pretty compelling i'll i'll just shout out to the proof points and then i just think people should go read this it's very interesting so he did an analysis and he basically said because but bitcoins all all the wallets are public right a public ledger so you can basically see how many wallets have more than ten dollars in them and this is a you know this is a way to check how how much adoption is there right bitcoin like all money is about a network effect so the more people that use it the more valuable it gets like if if not everybody uses a currency or doesn't speak a language is not useful so back in twenty seventeen so just three years ago the number of wallets with just over ten dollars in them was three and a half million wallets not that not that much adoption right there's you know apps that tell you about plants that have more users and now just three years later it's eighteen million wallets have more than ten dollars in them so you could see like the number of and any you could do this you could say more than a hundred dollars more than a thousand dollars it's the same curve it's basically six x the size the adoption is six x exercise as it was last time the price was at this point so that's way better way more adoption way more fundamentals this the second part is what they call realized market cap and basically this measures okay what's like right now to get the market cap of bitcoin they just say how many bitcoin are outstanding and what's the price bitcoin that's the market cap but that's not really real right because a lot of people got in what bitcoin was cheap and so it's not like they're actually buying it at today's prices like if one person buys it at twenty thousand that doesn't mean that all the bitcoin are worth twenty thousand so it's a little bit the market cap generally is misleading so he looked to something called the realized market cap and all this basically means is he ignored all the bitcoin that hasn't moved in many years so this is like stuff that people have had since two thousand nine and like has it hasn't actually it hasn't actually been transferred it hasn't been sold or bought so it's basically of the bitcoin that were sold and bought this year how much have those been worth and so what it showed was that on a it shows you kind of the cost basis and so in two thousand seventeen the market cap if you use this method was only ten billion and now it's a hundred and twenty billion so twelve times the size which basically means that the the even though bitcoin prices higher the number of people who were actually buying and selling at this price is much much larger this time so last time the price ran up because a small number of people were buying at this high price and most people had been in it at a super low prices so like you know if you own bitcoin when it was forty dollars and now it's at twenty thousand dollars you're not gonna you know you're able more likely to sell because it's like life changing money for you to cash out take someone money at the table and you're almost completely unlikely to go buy a twenty thousand because mentally you're like dude i bought this at fifty dollars i'm not gonna buy this at twenty thousand per bitcoin now and so there just weren't as many buyers available at that price point now there's way more so i think those two are really promising signs and so i i i would guess that bitcoin is gonna break through to new highs you know over the next two three years high no mean don't know people do these like estimates where they say fifty fifty sixty thousand a bitcoin and what they're assuming is essentially bitcoin continues to sort of eat into the gold use case of why people buy gold and so basically if you look at it as a how big is bitcoin compared to gold it's like two percent right now and people see it getting to about ten percent a ten percent of gold market cap within that time and that would price it at fifty sixty thousand per coin and there's all these other good signs like a bunch of financial institutions from you know jp jpmorgan bank of america whoever i've come out put in their their thing like here's the asset classes we're most excited about looking forward all they're they're fund managers and stuff like that you know square is now now using bitcoin there's there's the there's more adoption by institutions there's more buying by institutions and institutions can really spike the market because that's a lot of cash that wasn't able to get into bitcoin before that can now you know use bitcoin as a small hedge in their portfolio and that'll be huge so i think those i do know things will drive it up there's a guy there's a guy who it's supposed to be chopping off his dick soon right why he bet something the guy john mca oh he said if it does i think did he say it if it it doesn't hit a million dollars by like this january that's right yeah he's gonna chop off his dick and eat that's what said that's your calendar reminders is that this it's is that this december i don't know very you could check check when when he promise them not to interrupt your your wonderful no that's it that's all i wanted to say i'm wonderfully intellectual point which i buy into but just a reminder the founder of mca virus software on december thirty first is supposed to chop off his dick and eat it if it's not at what like a hundred thousand i think a million not reached one million okay yeah he's oh he said he'll do it on national tv two perfect okay so so forget the blog post just what just watch this when this goes live on abc b we'll do one more yeah yeah what's the let's talk about fig for browsers what's that mean okay so i got two ideas that are kind of what i'll call the x for y ideas where you just sort of take x and you say i'm gonna do it in in a different category so fig for browsers so there's been this movement of all the shit people used from being what i'll call single player like a single player video game to being multiplayer so a good example of this is fig which is like a new it's photoshop but it's like the new age photoshop and fig was valued over a billion dollar so they built a billion dollar startup basically taking photoshop and saying oh this should actually be on the internet not just a a compute something on your computer and like while i'm doing designs sam you should be able to like collaborate on the same file and you should be able a framework that is such a great framework and and so then there's google docs right google docs said oh there's microsoft word that's a single player version of writing a document google docs it's the multi player version two of us can be writing on the same document editing things leaving comments for each other that sort of thing it's like collaborative software is the boring way to it but i call multiplayer software and did you make this up i think a bunch of people have come to the same realization i i like i i thought of it myself but i've seen other people talk about this too so there's another one that's front which is a email inbox so email is a single player sport usually front basically said hey you know when you have like a help desk it's kinda like annoying that everybody is to share the same password and you don't know who's gonna reply like we're gonna make a team a multiplayer version of of email inbox and like your whole team that does support customer support can see the same inbox and then assign each other's things and leave each other comments about it as you go so this this trend keeps continuing so i just look at on my computer screen i go look at the the the the kind of the desktop apps all the apps i have and i just think which ones of these are single player today that could be multiplayer and the biggest one is the browser so chrome right or safari or whatever you use so today your browser is a completely single player experience you you you use your browser you don't share it with anybody else but you do take links and you share the shit out of right like this how the that's how stuff goes on the internet as people sharing stuff with one another but the sharing is like a four step process you like grab the link and then you go to your email or your messenger copy paste that you send it to them then they click it and then they open it and so i actually think that there's room for the fig mu for browser which is basically let's say for for this podcast for example we could just have a shared chrome window and we both just open up a bunch of tabs and i could see which tabs you've put in you can see which tabs it and i could highlight stuff on it and i could write notes on it you can see my comment you can reply to it and it's like we have this little shared internet window and i i don't know what that would be good for and who who would use it i i would use it i i know with a bunch of friends but i think they're it's crazy to me that there's not a multi multiplayer browser whatever the fuck that means i think somebody should go do it i think that's such a great framework the multi multiplayer browser one maybe but like in terms of just that framework i think it's goal like for example you know do you know what pro tools are no it's for music okay editing music it's like considered the i think i i think it's like the default i'm like yeah multiplayer that right i mean multiplayer of of any type of so people are saying fig for like after effects or for imovie like yeah basically video editing should be done the same way it's not today today i added on my timeline and then i can to file then you can import that and then you can't make the changes it's like really annoying that should be done in the fig style there's a whole bunch of these do you know what's crazy antiquated i cannot believe it exists and like i i try to tell my lawyers all the time i'm like can we just use google and they're like no we're not using google is when they red line documents yep and i track changes in max microsoft change tracking yeah like it's so weird when so what lawyers do if no one's had to do this is they say they're gonna i don't even know the terminology but they say they're gonna do track changes or red lining which means they like cross out the original contract and make something new in order to negotiate and then they like download it to they they save it and they upload it to microsoft word and they email it you and you could see the track changes if you have microsoft word right it's so freaking weird right it's so weird i can't believe that that exists that way yeah that's a old habits die thing i think there there are some people who've have tried to like modernize this whole thing because because the big problem there is there's a bunch of different versions right you'll have like contract january two point three and then it's like contract january two point four and then somebody just says contract you know revised clause and now it's a different file new yeah new new new new copy you new copy one i cannot stand it i cannot stand it it bothers me so much i hate this whole red lining thing and when i called my lawyer i was like hey have you heard a google docs and she like she's like yeah that's like amateur we're not gonna use that and i was just like okay i guess whatever right but i'm i'm shocked by that i'm shocked at the red lining how that right how that process works so that there's another x extra y idea that i think is interesting that a bunch of people are trying to do right now and i don't know who's gonna emerge a winner or if there is even a winner maybe everybody's chasing a a a false prize here but it's subs stack for video so subs got really popular in the kinda like tech community as a really easy way to create a newsletter with a pay wall if you want and so you can get subscribers and you can send them emails and you can charge them for emails and a lot of people are trying to do this for video so to say you can get subscribers for you to do video either live or recorded but let's take live i think that's where more people are innovating right now so i'm gonna be able to go get subscribers for my live streams some of those streams can be free and some of them can be paid and somebody in a buzz you are trying to make subs stack for live video right now some people are trying to do a subs for recorded videos as well what do you think of this idea you think there's a there there i'm i'm kinda torn on it yeah so let me tell you an example there's this company that ben as is part of and he film i've talked to him a bit about it it's called rock fin do you know what rock fin is i think you've it once but explain again so it's r okay f i n and it's very similar to that it's and their tagline line is the best way to monetize your content now they've done something weird in that they've like built this on the backup bitcoin which to me i'm like i told them i was like you guys i don't like just just make just let me give you money and make the service cool so i don't understand what this whole like bitcoin shit is and how it works with this honestly it it makes it super weird but you can go to rock fin at the very bottom click like subscribers or dashboard and you could see how many subscribers they have so they have about ten thousand people who pay them money and they've lined up people like ben ask people who are like mildly well known athletes and they create athletic like vlogs for them and so ben aspirin will like leading up to some fight or something he'll like put out a bunch of episodes and i think it's cool i actually paid for it it was awesome so they're trying it i think one problem is is that video is significantly harder than text so like with subs stack i can just sign up and it would take me thirty minutes to write my first article right video it's definitely a lot more intense but i do think it's quite cool i mean you're you wouldn't do it like ro you definitely do you would just rip off only fans yeah oh yeah all all only fans is a great great example of this they do they do everything they do you know mostly photos and videos i think the a lot of people are doing this for live video which i think makes some sense because you it's not as hard to create live video as it is recorded video ironically right because for recorded you to like put all this time into editing make it good and all the stuff for of live video i just like hey whatever happens during this hour happens and then you're done with it and so i think and then you have like instagram live and all these other things where twitch where you can stream for free but you can't have like your stuff behind a payroll and and so that's where i think a lot of people trying to do for live video i think it's interesting yeah i would just rip off only fan so that's what that would be my thing mh but for the same market and as only fans are for a different market different yeah like a like a pc you know a a safer work type of thing right okay one other i wanted to talk about is this i this website called gum spy so it's gum spy dot com g u m p y i was pronouncing a gums have you seen this no i saw it in the your sheet was like gum what's gum so gum spy dot com yeah so so i'll shout out the guy's making this got jacob greenfield making it greenfield maybe is how you say it and i like this dude he's a kind of like building public type of guy and those there's my people i like that and so he's building a budget of random projects this is one of them so what he said is let's see who who's got the you know best selling stuff on gum road so it's just a list of the best selling stuff on gum this just good trend stuff for you by the way so he has this you know website where you can go and you can get a you can see a free sample where it's basically like this air table kind of embedded into the website you could just see so like if you scroll over and you sort by estimated monthly revenue look what's at the top it's a trans competitor of yours that's due twenty seven twenty seven thousand a month and then there's you know just a whole bunch of the agency core stock market investing fundamentals that sold about nine thousand dollars a month on gum road so i thought this is kinda cool it's cool way to see kind of what's popular on gum road and and i like this guy jacob style i recommend you follow him and look at the different things he's doing he's doing what he's calling a bootstrap mba which is like how do i learn business through trying to bootstrap a bunch of projects over this year and it's gonna cost money maybe i'll make some money maybe i'll lose some money but i'm definitely gonna learn about business by building a bunch of businesses this year and i'm gonna publish as i go so i i like this i like this guys up to it i think this is a cool product wow this guy's jake his personal websites is even cooler than the real website yes yes it's jacob with a k so jacob green dot com yeah this kid hell is he is he young is a young kid no i don't think it's a young kid i think it's a like guy oh okay well this man is talented yeah this guy's bought this guy is awesome yeah i like them wow yeah i'm i think this this person is gonna be great i like this gum road idea that's not gonna be a big business obviously but it's a really neat small tool but i bet you if he it looks like he's already has eight of these tools already made yeah he just uses the same landing page by the way for all of them like he has another one called product explorer that's just the same it's the same website it's a great out of is this like something like notion i sent it to my guy who by a guy ben who helps me with all my projects and i said great example of a personal website and a great example of a landing page let's figure out what he's using as his template for these because i really like this format yeah this is really good i'd really really like this here's landing pages are phenomenal this person seems great i think this is really really cool oh man i'm like digging through all his stuff so how how'd you find this person i saw the gums by tool and i was like oh is cool i at the bottom right like this is made by a jacob and i was like anytime somebody builds something tight i stalk the shit out of him and then i saw he follows me he dm me and i never had replied to him and i was gosh shit here we go and so now i i dm up being like hey your stuff is cool yeah i don't have anything to say about this except this is cool i think i don't think that some of these tools are gonna be like particularly big but i bet you many of them can make five grand in a month yeah i think you know this is kind of like in a learning phase and maybe something not something leads to something it's kind of what you bet here wow that's bad let me tell you a quick story i was out in in at a bar i like not a bar i wasn't in a bar i was outdoors on the patio of this like picnic area and i was talking i guess kinda but i had a mask on and glasses on and no one can see my face and this person walks up to me he goes are you sam par i was like yes hi he goes dude you're in sean's podcast i love it i'm a huge listener like i listen to every episode and i thought it was kinda cool so you recognize you buy your voice you're saying yeah they they they can tell my voice and that happens every once in a while when people can see my face but it was very funny people were able to recognize it just from the voice that's cool i who would have thought it man that's that's that's pretty crazy has that happened to you yet no the closest thing of that is like i called my cousin and i called my cousin robbie and he picked up the phone and it sounded like something was like off like i was like hey what's up and he was like hold on and he's was like kind of like distracted by something i was like it's a bad time like i'll call back later he's like no no he's like i was literally just listening to the podcast and then you called and it's the same voice blowing now it's lot he's like you just like really tripped me out for a second he's like i didn't know if i just pushed something on my phone and didn't know what that just happened so i thought that's actually i was gonna get a little bit that's a good one anything else you we gotta we wanna go over no we're good great sounds good cool alright man i will see you then alright that's it see you all soon cool