#209 with Gary Vaynerchuk - Why NFTS Are the Future

what's super awesome is like when you're putting the wins on the board nobody even gives nobody wants to touch it then i keep going keep going nobody wants to talk to me yeah i feel like i could rule world i know i could be what i want to put at all in it like a days off on a go less travel never looking bad that was pretty that was intense forty five minutes dude sometimes you have high hopes for a guest and i in on this podcast i've been disappointed today was not that day my friend i love that i i had a great time honestly we didn't even get to a we got to like twenty percent of the stuff i wanted to ask him about so we had gary vaynerchuk on the pod today it was phenomenal whenever i leave so i've i've hung out with gary maybe three or four times maybe three times whenever i leave his presence i do feel better and a lot of people and i'll admit i was one of those people years ago i would like oh this guy just some loud guy who selling in nonsense he's totally the real deal and i went to we we talked about it but i went to dinner with them one time and he talked the entire time and most people would be like dude what the hell that was so rude and when i left i was like i just wanna continue listening to him right i wanted to continue tell stories i love his point of view he's entertaining he that guy is intense i love it he does what we try to do he's been doing it for a long time which is business entertainment is the entertainment side of business where he you know he'll go to a garage he'll he'll make content that's like go into a garage sale buying things for a quarter and flipping them for twenty eight dollars on ebay and how that stack and how you can go from like you know forty two dollars to fourteen thousand dollars in a year if you just did this and like obviously he doesn't need to do that anymore he's got this agency with you know hundreds of employees he's got you know he's he's got a bunch of stuff going on as far as his own business goes but i like that he's been able to do what what i think the world needs more of and needs more business entertainment because like why do i why did i grow up wanting to be a basketball player because nba was so goddamn entertaining right and and so when you have entertainment it's that creates inspiration and aspiration so it ends up creating more founders in the world yeah he was amazing man and whenever you talk about what whenever i'm off with the whenever i'm with them off the here air by the way he's it exactly the same so there's not a there's no show here so alright we start off i we got right into it in the first thirty seconds i asked so i've been tracking this for a long time when i was managing my business i was trying to manage cash flow and i was trying to understand how hard to push it and i made a document from gary van vaynerchuk about va media they grew twelve hundred employees i tracked the revenue revenue per head over hundreds of interviews i basically found where he said a clip like oh we have this many employees and i asked him about it so i asked them how manage cash flow then we got into a really interesting discussion about entities n t's a lot of people talk about them i'm not like an nxt guy sean you are this was the one time i've ever had a conversation where interested me beyond just like academic right yeah yeah he he does a good job with making it i don't know like tangible and it's like not making the big mistake which is n t's let me tell you what it stands for and how it works under the hood it's like no no i don't care how the engine works i wanna get in the car and go somewhere so where does this let me go and i think he did a pretty good job of that so we talked about t's we talked about you know just somebody kinda like the lessons learned you know going from like what do you saw in the dot com boom because he was kinda like early in the game right in two thousand and then he was there for like twitter facebook uber and he got in he invested in twitter but he missed out on uber even though garrett was one of his best friends and then what he's so how did he take that learning and what's he doing now with it today how does he take those learnings and and apply them now so we talked about that for a bit but good episode he he you know he was i don't know super nice guy wants to come back on i think we should have on again for sure i i take a lot it makes me feel happy that sometimes a lot of times people tweet at us and they say i wanna run through a wall after that episode or i wanna go and accomplish something i feel that way right now little after listening to that episode i i felt like i was a part of it more so as a fan more so as a participant i thought it was wonderful yeah you know the it's when people say you know i'm almost late to work because when i'm driving listening i'm my family i gotta pullover over write shit down right like i can't let this idea i gotta write this down that's that's when we do it well and sometimes we don't always hit that but i think we did it well on this one so alright there's that episode gary v joy frank alright are you weird or are you normal and they're like we're a little bit of both and they came out and did it and it it it worked out well i'm just using an iphone get the fuck out of here well same now sam if you look looking are you really i'm in new york this is just an iphone oh the blurred out why does it look so good so lighting he got this app that basically uses your iphone as like a dslr which is really cool awesome it's see you guys i hope you're well it's called cam i'll get a shout it's called cam i think i paid forty nine dollars for it trust man hope everyone's well so we have a lot to get into i'm pumped here can i it's something that i've i've all and we're recording now something i've always wondered about how many people work at va media right now somewhere between probably ten fifty and thirteen hundred they i'm sorry va x so va media is right because we have gallery we have yes so i was looking i did some research based off a ton of interviews and i was like going through the head count of how how fast you grew and i believe between around years number number three and four did you grow from like thirty people to a hundred and twenty five people yes because in two thousand eleven september of two thousand eleven i kinda made the decision to go full time vein no longer what i would call full time wine library secondary vein i made that switch and then the lighter flow and kinda went on dude how the hell do you manage that cash flow for a company like that because i i just research your shit yet mh and it was tell me if i'm i i just guess off some interviews around i'm a start at year one around five people twenty people thirty people a hundred and twenty five people three hundred five fifty six hundred eight hundred yeah is that a ballpark right yeah like if i if you were asking me and i was spit falling because who the fuck you know the first year was like the we started may of two thousand nine so that that first half year i think it was like six or seven then it might have been like twenty and through all of two thousand ten and then into eleven it probably got to like thirty and then that's september two thousand eleven look what you'll appreciate this and you've got this in you there's certain people who i think are really really good at top line revenue driving initiatives what i think has been the balance of my life and it's very similar to what happened at wine library right is because i'm able to create so much top line rev and because i'm playing forever right wine library my dad's family business and banner for me is really for enough forever business i'm just able to hire a lot right and then you just got you know with retail it was really easy right i was like i knew how to sell wine so like i was with with b to b it took me a little while to calibrate like oh fuck they didn't pay us wait a minute why like there the bills do like why didn't you pay but like overall it's just thing in your shit right i think when you stay in your business and you know what you've got coming in and what is going out you know i'm not a cfo like oriented ceo but i'm also not a s i always have a good sense of like is this are we gonna be i'm always playing to like well this hurt me like will i be in trouble you know i tried to stay within those con that's it it's just crazy i mean did you have a line of credit from the bank no we didn't have a line of it's so fucking wine this is where my dad's are fucking psycho i was so under educated because i was such a poor student and i was such a sorry for this background he'll i'll go away in a second it was i my dad ran his fucking business with no line of credit which i love right it's old school immigrant you know pay with what you have but it trained me because that business even crazier that business went from four million to fucking twenty five and like thirty month like so fast and inventory and payroll like but i got so trained in playing within myself we didn't have a line of credit for a long time we we definitely got a line of credit probably two thousand eleven maybe in two thousand thirteen so but the first four or five years and then in the pocket you're talking about which is very much more we'll resonate a lot more with people on the call who've got it who gonna go through the seven to seventeen to seventy seven to two seventy seven it was more about just not spending what you don't have right like like it was just as simple as basic being a businessman like hey we just landed this account they're paying us four hundred eighty a year it's fucking you know mon or pepsi you feel like they're gonna pay you you feel good it's not gonna you know and it's like okay now i got four eighty i'm gonna hire these six people at forty k piece i feel good with you know it was like very like back of the napkin what's funny about it is and you know this and i think this is where you know as when you were in the podcast we hung out an outdoor dinner like every time it come there's something about just like street business versus like i find myself laughing that like mine can be like intuitive and back of napkin and yet people that are like all about learning and excel sheets and doing it proper and fucking sap and cloud you know they have all the software like get fucked up it's because they don't have a good pulse of their actual business and they get ahead of themselves in lacked patients yeah it's just like when you're growing that fast it it it seems like like you're kinda playing it maybe at month by month maybe quarter by quarter where i would be i mean it just i would go to bed and i'm wondering like i hope this client doesn't bail otherwise i gotta lay off yeah twenty people i think i think what was happening was we were selling so this and i think i you know it's so funny i was very long winded i think i had the answer when you were selling at a level that people are not accustomed to like when you're out pacing normality it just fucking selling hides everything you know when i'm landing fucking client week after week like you you know you start getting into a place where you're just out pacing vulnerability that's always a question i had sean do you wanna give him an update on i mean i jumped right into that because i've always had that question about management been like sitting on that question for two years just i have been he didn't say hello didn't say what the podcast is mike about he's like you know what when you scaled how'd do you manage you know funny i've gotten those sam through my podcast in a little couple hangouts it makes sense to me because i think sam really good at what he does and and he lived that life and he knows he did it super well and he knows what the anxiety and like the challenges are like it you could you know i always say you can only my favorite people to talk to are the people that know like i love talking to people that know because they've lived it not because they read it it just makes it so much more fun it's the same way i feel like when i talk like i love sports but i fully know when i'm talking to it athlete i don't know right i don't know what you don't yeah i did this this thread that went viral on twitter it was about club house and i was like you know this is when club house is sort of peaking and i said this thing i was like it's kinda unpopular because you know why shit on a start you know it really it wasn't my intention but i said everybody thinks club house is the the next big thing and i think it's gonna fail but here's how i think it's gonna played out and i kinda wrote it like an episode of silicon valley like i wrote like a like you're the ceo first you know chris ak texting you this is happening and i wrote this thing and it went viral ended up getting it on cnbc it has like i don't know tens of millions of impressions and people are like oh man you're a good writer and i was like i'm not a good writer i fucking i built this thing called bla that was very similar to cl and i went through this run and i was getting all this shit it wasn't anywhere near club boss but i yep you know they're i remember yeah and so i was like you know i i i went through this exact pain and so i'm just literally telling a story i know of myself and i'm exaggerating a little bit to make it funny and it has nothing to do with writing you know what's so crazy about that i don't know if you can see this you see the goosebumps yeah it's not yeah it's it's kinda how i think why i'm a good content producer i literally stay in my fucking lane i may say the same shit eighty seven hundred different ways and that's a little bit of my talent i'm good in incorporating contemporary pop culture slang nuances of the day but the reason i think it works for me is similar to you like like i have so much conviction in my shit because i'm not guessing out here right yeah you know i was watching your trash talk video on the way here so if you people haven't saying it good go to youtube it's fun series actually i was watching i was like i bet this here hits i couldn't see because i driving stop i'm listening to it and i'm like god this is good content i was like i bet this video hits and of course the views were pretty high on you for me and youtube i'm starting to interrupt it's by far my best show it's my best content immediately i was like hooked and do you know why i made it no because i listened to my audience i read my comments i read my shit so what was super awesome was i started getting a lot of emails from people saying y you're awesome i love you but like this whole like you put a twenty five thousand dollar check into twitter they're like that doesn't work for me i have twenty five thousand i'm like you know cool let me go even further back in my origin story what did i do when i dick shit i fucking went went garage selling on saturday and sold that ship at baseball card shows or other flea markets on on sunday right wait wait like by the way it it's more fun so i i i just sold thirty five hundred dollars worth of old computers and i got more joy having that thirty five hundred dollars in my v mode than i did twenty million dollars in my this this other is everything that i believe i believe the reason i like stuff it's easier is i'm mean for the game i'm just like you i could there is no comparison to how i feel when i in my last episode don't know if that's what you're watching i found a bunch of magna that's challenge right so for two hundred seventy dollars i bought what ends up being about sixty four hundred in ebay post fees sales right it's crazy because it's like the thrill of the home like it was before even before that right so i watched my drive home from the bank to get to you get at home i didn't get to that part yet but i saw that was the title so the the the you know some people are like oh that's cool you buy under two sandy you've sell for six grand the part that i was blown away by was the part i was watching you went to twenty fucking garage sales in a day and i was just thinking to myself two things i was like he made the most kinda like this this channel of this show is basically the most approachable version of entrepreneurship like yes we we do these segments on the show that people love that's called we'll do the billy of the week which is like a billionaire that we profile but sometimes we'll do the hill billy of the week which is someone who's owns twenty two vending machines that we break down how much they that's fuck and so smart another one we do is called the blue collar side hustle it's like here's something you don't need to be a genius for because sometimes i go off on my crypto shit and i'll be like oh yeah this is the future but then sometimes it's like hey you know what you should do like your order door say pest control leaves you know i love billy that's so fucking smart by the way that's what i'm living right now i'm like can't function because i literally like looked at my calendar today and i so we i this podcast and obviously you guys have done a great job and i'm like fired up about it but like literally in the back of my brain i'm like man i hope they got caught up or something because if i get back that forty five minutes right i can go more on open see and do a little more research i'm so ent right now in n life that i'm like every meeting i'm like cutting five minutes short to like like i'm just but meanwhile equally the only other thing that's got me juice is garage sale education because i know it can help people and i love it it's the same game do you so do you know american picker i know that show yes so i to work on that show i used to work for mike wolf the main guy in that show is that the guy who is that the taller guy or the show guy the tall guy and the way it worked is he would go garage sale to garage sale or not garage sale bonds and he would buy stuff and we would buy like some cheap stuff like something we could sell in the store for fifty bucks then we would buy some like a old motorcycle that doesn't work but our that we could sell for twenty grand and all these people would come in from all over the country to the store that i helped to run and we would probably sell five thousand dollars worth of items but we would sell probably thirty grand a day of t shirts and great and this bring of business crushed it but sean you wanna talk about some n t stuff because so i know that excites both you excites me to you trying to get into sam or are you like digging in a little no i i i am i'm into it sean told me what it was like a year ago and he bought like some really cool kobe stuff and i went and got a i i thought it was badass and so but sean like really into it i think he got a ticker behind him that you could see yeah no this is this is just you know my own little i motivate myself with a motivational quote every day or whatever but i do have this programmed up where it can tell me the price of whatever you know ethereum or you know whether it's a some alt coin or in this case i start i met the founder of nifty gateway and i was like dude first is stories hilarious i don't know if you've met them but it's two twins oh the tyler that thing they're it's two twins that built nifty gateway they get two twins amazing fucking amazing and so he this was like pretty early in the wave of like n nxt started getting hotter and hotter what they did which was smart but they said look n nxt have value because they're scarce but the problem is anyone can make a print n tomorrow which is like the fun but also the there's like an abundance of scarce objects now right it's supply and demand like there's such an incredibly fascinating supply and demand game going down what nifty started doing was they were kind of like look what we'll do is we'll be like christy we'll curate so we'll find the best artist on instagram and we'll bring them on and they've been building up this you know people did their thing i think through through nifty earlier on they've been building up a filing for ten years just doing free art for the love of the game on instagram and now that there's a way to monetize that audience monetize that art they can bring it over here and so i bought this like kobe you know the the forever mom i don't know if you're seeing it but basically i was telling sam on the i like yeah i bought this thing for eight hundred dollars and you know he goes through the cycle everybody goes through which is you bought a file like what why are you buy jpeg like what's is that gonna do you spent eight hundred dollars on this and i like actually about five you bought five copies of the same fucking thing and you know those sell for ten ten to twenty five k now and so that was my first flip basically my version of the and the digital garage sale right yeah that's why i'm so addicted i think like i'm a dick i'm addicted to the digital garage sale and so give us like your simplified version of the thesis because some people kinda like some people love this shit they're in the weeds some people just sit there in eye roll and then the truth is that there's something really exciting going on and then there's also a bunch of shit that's gonna go away in a few years like it'll all just mean your take yeah i've been you know i'll just well i'll i'll give you the micro thing on that i think ninety eight percent of the current projects go to zero right like i think it's very it's it to me it's the most similar thing to web internet stocks ninety nine two thousand that i remember i remember being there i really like i i was me young so i wasn't as experienced and they didn't have as many patent recognition and reps but i had a lot of the good ingredients right and i remember sitting there and saying man a lot of these businesses make no sense like just no sense of like how could they be worth this much money they're using so much money and i and i didn't understand wall street so i wasn't sure but when the affirmation of march and april two thousand came along and most things got smoked out it kind of was a monumental moment for me because the only stock that i bought was amazon mh and and and because i really thought it was like a real business even though i was losing money was losing money in a different way than other things that had an actual business like back house him i started like revenue mattered like the other ones that that fucking revenue right you know like no customer gave a fuck and i'm always like does the customer care so what do i think overall i think people are grossly underestimating n t's i think right now people think of them as collectible in art and flip game and for a lot of us that have that american picker garage sale sports cards for me like and there's a ton of people that love that like that's that's why half of wall street that's where they go like there's a lot of those people and that's amazing and that's big that's a big industry like over the next fifteen years big collecting flipping you know you've got an entire generation of kids that go on fortnite and madden and two k and by digital assets to flex so that's gonna fucking play out but i think that's just a nuance of n entities i think people misunderstand the utility nature of spark contracts i believe in the next fifteen years that that nobody writes a book with a publisher they do it through an n infrastructure i believe that in fifteen years nobody launches a record label by having a a a record a record by having a record label give them the bag they're gonna get it from crowd funding by selling n entities and giving a percentage of royalties i believe that there's not a single sporting event or concert in ten years that the ticket is not an n because there's no incentive for that organization and that artist or people to launch it as anything but an n because a qr code or a piece of paper means nothing but the n if luke drops a hundred points in that gain that becomes a forever collectible there's a trillion fucking dollars worth of of ticket stubs that have sold over the last twenty five years on ebay you know that all goes to royalties to the person so what's really fascinating to me i'll give you a weird one if you own a home that is wildly unique and as a twenty five million dollar home on a beach or something something wild right you n t that fucking home right now put into the smart contract that you get one percent of every transaction of this home and perpetuity and the first person that's gonna buy it from you is gonna be fine with that they don't give a fuck because these things are long leads right you buy it you sit on it for thirteen fifteen years so like there's so much that n blockchain realities are gonna bring that i think people are underestimating it you wanna hear you wanna yeah yeah hedge on tell them this idea we had right minds something speaking like a few months ago a few months ago we're we're shooting shit before an episode and we we don't tell each other what we're gonna talk about so like i'm brian three i'm bringing three pieces of heat you're gonna react to i gotta know my shit you have to be able to react and that people like that people like to it's already know that's fuck that the worst part of a podcast is hey do you know this yes okay well let me explain it because i'm not actually asking you asking the audience and fred i'm trying to present this here so one of the ideas that i brought on was that i noticed that michael jordan's house had been sitting on the market has sat on the market his house in chicago that's got the twenty three emblem on the gate it's got like a basketball cord inside got everything and it's been sitting on the market for years and the price has been dropping i i i know what it started at i think something like twenty million and then it went down to fifteen fourteenth and it's like so i came out the i was like dude i think we could buy michael jordan's house for ten million dollars wow and i was like you know so we could kind of like do the you know the way that number normally somebody would do this is alright do i have that kinda a few money to go buy michael jordan house my wife doesn't kill me where do i go you know like raise a fun amongst you know few back alley conversations at dinners with some folks who are rich i said or we could just get this podcast we could crowd fund ten million dollars yep as soon and we could basically fractional you could do should either through an n or on rally road or whatever i was like let's buy michael jordan's house and we start and this went viral a little bit in our world like in my head you listened to every episode religiously hits your phone and you you say cancel you know clear my calendar i need to go listen to this i know you probably didn't but that was an idea we had a few months ago so how would that play out in the n two world so walk us through that you guys and now it sounds like it went viral and you're like that's exactly what should happen like i think that's you can't imagine and i'm a man who tends to like i don't love that many ideas right really i mean that i love execution i think a lot of people can execute a b and c idea and do great but to say i love an ideas where and that's why i think i've done really well like i really bet when i love something and it's worked for me and i've lost sometimes because the executor couldn't do it y bongo was my favorite investment it was a precursor of tinder in a lot of ways caleb and the team there just couldn't get it there they didn't execute which is okay but but when i tell you i love the idea buying michael jordan's house so much because i know that you can literally arm arbitrage it in perpetuity like i you guys are people that can garner attention and promote so it's worth so much more to you than somebody else i could see the entire entrepreneurial ecosystem renting out the basketball court game like like you can run a real business now now back to my big point about unique property i think this is gonna change the real estate industry the fact that you could put you guys are young dudes you put a two percent royalty in perpetuity on that home you sell it to the next person for nine million let alone twelve million right let's just play you guys are locked your great grandchildren great great great grandchildren are like our fucking great great great were fucking geniuses we just got fucking eight hundred thousand dollar check the male or eighty thousand whatever it ends a being i do think in the next five years there will be aha to what n blockchain smart contracts mean and i think it will trickle into real estate people will buy unique properties and i think they're gonna make incredible in perpetuity monies that maybe they themselves won't get the crazy because you know how often the house turn per s but man listen if you're listening to this right now listen i've got a real good sense to who listens to this because you guys got a lot of fans you are either there or you are spying to be there from a professional standpoint right for the people that are listening right now who've been fortunate and we're sitting this weird moment right now because of crypto and n where there's some people that have really come into some real money in like i'm making a very smart play if you're sitting with some money you know these are the things you're thinking about like what can i do that like is fun for me but also leaves for my generational wealth i wanna do shit that still is good like that house is perfect right because it'll be fun for you sixteen or two or nine weeks a year but you're also creating something that's an asset let me say it one more time in perpetuity right like once it goes on there and gets n it's right it is a contract like there's the ab team do you know the story about the ab team from saint louis not nba and yeah yeah know this could saying this is epic they merged the leagues the saint louis team is out and the motherfuckers like fuck you were not signing the deal and so what they did was they they it was like i don't know what the finite details where but they needed them to sign off to make the merge that happen and they tell them that your franchise does in advance because we're folding some they they they fight they fight they fight because they really loved basketball they're like new york like sc guys who bought like me right at the end they go okay well if that's a case you have to we have to be treated financially as the at the time the twenty sixth or the twenty second of the twenty fourth nba franchise and in perpetuity we get the economics split that so we're out of the league but economy that we get it and so as the league i mean and i think they've made like billion dollars company it was i think two brothers right that's right that's exactly two brothers i think they like made like hundreds of millions hundreds of millions when that was like a different number over those seventies eighties and nineties i do think they got bought out like the grandkids got bought out by the nba like it before the last big deal but like wow unbelievable do go ahead sean i was just gonna say you were talking about n another i think another use case that why i like when talking about it with you versus like we've had a bunch of crypto heads on here you know super geniuses like biology and others and you know one challenge is if our audience is a guy who owns own marketing agency in saint louis he's sort of like okay you know what this mean yeah like i don't want call how i want the what what does this mean and what does it mean for me to to me exactly and to me when i talk about n t's i think about the fashion industry i think about why somebody owns a rolex right i think about social media like like how about this you know how everyone's like social should be this full of shit like everyone takes photos and fakes it you know what's gonna be a much better social identity what tokens do you have in your wallet publicly yes do think about this yesterday read to both of you if i looked at your totally yeah yeah like my public wallet is gonna represent me because it's not only gonna be like what i believe in crypto punk you know my v friends collection like but it's also gonna be like all my jet tickets right and like i'll give you a good one i haven't even mentioned dave matthews publicly in my entire life but if somebody went in my if this was going on for thirty years i'm like like every day on twitter i probably get a gary you want to dave matthews new year's ninety nine madison square garden i'm like oh yeah my friend tokyo joe loved like like you know it's a truth indicator and by the way one last point this is what really confuses people every i'm gonna give you such a clear picture that i think will help people every one of you has an aunt uncle niece nephew friend grandma when you go into their house they collect marble they collect little miniature elephants they collect magnets every state they go to they pick up a match box humans humans are in inherently hoarding assets and we use them for ourselves because we like it we get caught up in the nostalgia and the story and we use it to flex yep flexing a painting or you're winnie the poo collection that's epic in your house is kinda hard except for the people that come through the blockchain is gonna accelerate accelerate at a scale right the way i thought that it would accelerate communication with social and that's why i think people are underestimating the first internet collected the information the second internet created the framework for communication right this third thing this web three n thing it's going to capture the customization of assets and the stakes are fucking high and with your deal the the new the the gary what what was called b friends be friends do do you you offer a conference a year are you gonna do that forever or is there a timeline on that what i wanted to so my this is pretty interesting because i've i've done it in a couple shows but with you guys it's people like this so i you wanna host it at michael jordan's house because we let you do it my friend we just can help you host it add michael jordan's house my guy listen so for the hardest core consumers of my content be friends made so much sense why the amount of times i referenced walt disney and vince mc man character creation on i'm building v x to buy nostalgic ip i'm gonna ref storytelling saturday morning cartoons all the shit behind me in my office right like wrestling and thunder cats and transformers so i'm just so affected by pop culture and all that my whole life and like i wanted to buy like animal crackers from mon and i was gonna turn into madagascar like i've been like in this place forever right as matter fact you would be friends two years ago i was gonna launch a toy line called workplace warriors were little desk toys right with what basically became these characters so for me i see t's i have my i've been like kind of like flirting in the winter i have my crazy eureka like no at no this is the fucking it it right moment i bought long time ago italian shout out former cto living social got me on in twenty fifteen and sixteen i've been watching but i wait to the consumer the normal shit the marketing agency saint louis moment not the fucking hardcore infrastructure nerd that's just not my jam right so i go fuck man i'm gonna build the next pokemon harry potter transformers but ninety nine point nine percent of the world's not gonna believe me so let let me launch this program and show people that you can do a lot more than just have pictures on it right so your point sam like i'm like so the answer is it's a three year contract be for series one says you get a conference ticket to con twenty twenty two twenty twenty three twenty twenty four right i'll figure shit out after the fact but i knew that that would have such inherent value that people would lock in for that but basically what i was trying to do is trick this is the word i would use tricked my hardest core advocates by giving them an asset i knew v friends the original thing i just launched as kind of like the original disney cells you know those things that sell are like a trillion that were like the hand snow white in the forties like if i pull off what i think i can pull off stuffed animals toys trading cards movies video games over the next forty years this original n nxt has real potential and i wanted to create a thing that wouldn't make my biggest earliest supporters trade it you look at board eight you look at me you look at these epic projects that are killing right now people are trading i wanted i wanted people to be locked in so that by the time the three years are over they're like wait a i'm never selling this because i wanted them to benefit the most and the data backs this up so right now if i go on crypto slam if you you guys don't know this crypto slam dot io owe easy little ag of n nfc projects think you guys are like number eight okay so you're your number eight in the last twenty four hours last twenty sorry it's a twenty four hour rolling score but you can do top you you could do up top it's got all the stuff yeah so we can do like let's say thirty days alright so thirty days or number twelve last thirty days about twelve million of sales volume of transaction volume and the funny thing is if you go through all the other ones crypto punk mi bits all these they have somewhere between thousands or tens of thousands or you know the top one ex infinity quarter million buyers that are doing these number doing these transactions v friends is like an outlier it's like three hundred people with five hundred eighty transactions what that tells me is that there is a small group of hardcore people who are not looking to flip this rapidly for a quick buck because they believe in you they believe in the utility value of the conference so i like that because it's different and you're you're pushing it more point i think i've been very aggressive with this i'm like do not bet against me i'm gonna fucking build trans former like you know like and i so i a lot of people are holding now be more you know the conference is gonna be epic and i'm gonna come through but i think i think i think they're betting on my propaganda again right now and i'm gonna come through it's like bitcoin the thing that gets it like early days bitcoin people who bought in were because they were ana crypto nerds yeah it's like they they needed to you need the the first people to buy in for one reason and the second people you the he got it and then it's like once everybody's got the damn things we all speculated on it now we gotta use it as a medium of exchange so so it's interesting about n t's more so than bitcoin today and obviously things will evolve it's just functional yeah like the beef makes it function like they're about to get very functional right like the the functionality is gonna be extraordinary right and so so i like v friends i think v friends is cool i told my guy before this spot was like oh i'm gonna talk to gary today you know let's pick up a v like go go get me one off the floor there i appreciate he's like cool floor price is like get at a seventeen grand now i was like oh okay well alright alright let's i don't like gary that much i was i i was like i was like i'm gonna do it but that is not what i it i was like that's interesting that really kinda like open eyes in fact the the last few days you've been seeing so i wanna bring back one thing you talked about which is your wallet is gonna be a new type of profiles it's gonna be a new place to flex is gonna be a place to learn about someone in a real way like like the only reason i'm in is that right and then the i think utilities going be the other way you can wow filter your face you can do many things to get non verifiable there you know know you know it's really interesting the argument of like us controlling our narrative because everyone's become the p agent of themselves versus the black and white public data of what we buy now don't forget for everyone who's scared and loves privacy you don't have to share your wallet right it's just that my my argument is i was there for my space two thousand four when everyone's like people get a raped at the mall and kidnapping and you know i was like no i think it's gonna to go this way and now it is right everyone's in think that's what's gonna happen with n t's like you've got the hardcore people that i get on zoom with like just shopping and they've got literally like voice and like say that i don't know who they are every day the masses are coming and they're in the public wallet the rainbow wallet that dot eth world and i think that's where it's going you so you you you've been talking about buying brands and putting him through va for i mean you in like you're three four of of the company you i mean you've been saying that whole spiel for a long time i first of all you you haven't done it yet when you gonna do it and second of all i think that this putting him through the the n thing is significantly better than the old model that i bet you're playing on doing of like little you know we could put them through the the va media machine yep machine you you got it i mean i would much rather buy in all like a nineties brand and do this because i'm i'm looking at who the biggest brands are on on crypto lake i mean it's sports sports companies yeah i mean i think you can do brands are gonna be better what when are you finally gonna execute on that and and pull the trigger because you've been talking about it for a long time i'm excited to see it happen i long jerry well it's like no dude why do you need fucking fit fifteen hundred employees still like you built that machine it's bad you'll do the other thing now yeah you'll appreciate it i think that's an incredibly strong observation from the outside i just know how you know you know what like it's a version of golden cups like instead of like selling your company you have to be stuck or or like you have a big salary i just know i'm so fucking close for it actually being a death star versus like yeah it's a better badass machine than anybody else has got like i feel that like truly i do i'm like i got a better machine than the other fucking five hundred people i admire that i think have this down but it's like but it's so it's like so close to being two times better and four times better and the way i scratched my itch was res the restaurant app which i had a major exit with empathy wines which like i was creating and now v friends and like the v friends thing is really fucking with me because i'm like you know oh by the way said you'll appreciate this i had one executed four years ago signed and they pulled out late and kind of had like a clause in there that allowed them to and i feel good about this publicly i had animal crackers bought i mentioned it slightly quickly when was talking i had it and i fucking had the master fucking plan it was a cook cookie brand i was gonna make it healthier to be on trend but what i was really gonna do was turn it into an animated film and build up like make the lion and like fucking larry the lie like i was it was kind of v friendly now listen ultimately i think i'm gonna place a microphone i'm young enough at forty five have the leverage have the infrastructure but i think i'm gonna do a whole bunch of everything right i think i can build a studio like pixar with be friends at the forefront and do other shit and i think i can buy champion when it gets cold again and ref in thirteen years because i like both of those things and i'm gonna how much for both how much could you buy animal crackers for forty eight i think the deal was at a the time no shit yeah what was the revenue i hate making up shit i genuinely don't remember i remember the number pretty pretty badly remember around the multiple it was like nothing it was like i feel you're valuing the ip not the core business of that and they were like just fucking it was dead they're like mean the like they didn't give a they and like and we're gonna use it as a proxy to teach them how to do it with like it was fucking set up get it with well nil wafers just i mean from a marketing standpoint we crushed it there and you know i i really scratched my itch with k swiss ka swiss was fucking finished dead done what happened to them something so recently yeah right the to a chinese apparel company right ka swiss was at the forefront of that leverage we fucking exploded not only did we sell a fuck carry sneakers the residual effect than the brand was very real that was that's the closest i've come to like testing my machine only difference was it was a fade test because i was so involved with it in the face my plan is not to be that as a matter fact me the best part of be friends for me is gary v has been the catalyst for all the shit i'm passionate about like work ethic patient i'm so pumped that i'm gonna be over the next three years be able to go a little bit more in the backdrop and let these and let these characters take over for me as i build that ip so i'm looking forward to that but asked ask you when i was i was watching this garage sell video i was like this is great contact i man he actually had to go to twenty garage sales and i'm sure there's some fun to it but also there's you graduated past that stage and your life and that's the biggest thing that pisses me off of my boo fucking friends so i carry the fuck are you doing i'm like fuck you you you you go play golf and go on yacht i'm gonna fucking garage i'm not telling you what to do like you know like even besides that like i know you know i've done this podcast now for only out of eighteen months right so so we're we're we're new to the game something like that and there's a lot of benefits of building up this personal brands like boom i wanna raise a fund i raise a fund i launch a course i sell out you know like you can make a lot of money when you build a personal brand you build trust with an audience yep by giving them i'm giving them i'm giving them like like you say and then you you sort of have your your ass later so the the part i thought was interesting is man he's been on this what you know quote unquote treadmill of creating content know you're in your call you're in your uber going somewhere you know you gotta you got a cameraman with you and you gotta put out a sound byte for instagram wheels because that's the new hot shit or whatever and so like does are you i guess like this is more of a personal question like sam wanted to know that how the hell did you manage the cash flow question this is mine as like i see myself doing this content thing for a long time but i don't wanna work as hard as you as far as creating that much content do you do it because like it's fun do you do it you know are do feel like you're on a treadmill when you're creating this much content this much gary v the answer is i only do what i like as a matter of fact like i'm not hitting all my my team and my quotas right now with my content these last two weeks because i can't stop being on crypto stay open discord like you you'd be stunned how how much i could shut it down or triple down i understand the benefits of it and the leverage and i always did i always thought the community and brand was very underestimated in the last ten years i just feel like people are just getting around to like oh shit this is like the actual game but i don't i don't really i enjoy it i really do it and i also did it a little bit different i slowly i did it by myself for seven years but then i really built out an infrastructure of a team right like to your point like i'm i'm just living and everyone's recording and then we're post producing at scale how many folks are on the team right now i think there's twenty two and is are you the majority owner of va media or v x yes so then you're able to kind of it's not like a vc thing where you're you're able to like use the same resources across all your shit don't have to worry about pull you don't have to worry about please and everyone that's right or like your fiduciary i mean your fiduciary you're to yourself and to your but like yeah exactly so like and so i'm i'm in heavy control it's a long term play i have no board there's no publicly traded to you exact point i can like it's very much just a very large family business yeah you don't have to justify to anyone but you and your bro and what's cool about that is i don't have to mind bro because i've been super by him and more importantly you know i'm delivering like you know you know this right like what's super awesome is like when you're putting the wins on the board nobody even gives nobody wants to touch it then i keep going keep going nobody wants to talk to me you know did you do you pay yourself from the the company or do you just take all your side wins and and reinvest most of your your what would be your salary or your income from the the brand back into the agency originally i paid myself very very very little it just is so much over the percentage of my time so i'd start to paying myself probably over the last forty years but i'm still like wildly compensated in comparison to what i would feel like the god of merit would come down and she he would say yeah you are like way on because it's kind of all cycling in the same game to your point sure and do you like do you look back because i i think you're excited about web three yes and you look back at web two i know you can quickly tell the story of missing uber you know your buddies but the guy miss uber that's a big one big one what what was you tell that story but also just in general would you learn from the web two wave that you're like okay when three i'm better prepared because when long i love you for that question because the only thing i've been thinking about for the last nine months is like damn this the first time i felt like this in so six right the thing i learned there was i was gonna meet a lot of people that were technically stronger than me teach me new things have incredibly fun young fucking on fire thinkers different shit the world is res scheduling rec and that i knew that i understood the consumer and the human so well that i would figure out my path within it i think like you know the thing i've learned with i've i've told the uber story at nausea and travis is the only person i think in crush it my first book besides my family we were incredibly close what i learned there was defense all loses i bought my first like apartment in manhattan i've played so conservative until like thirty five like i no money first of all because i building a family business i just didn't have a lot of liquid i had enough to make the uber investment i passed twice and there was two things i learned from it one look the full story is that when i was asked to invest in uber garrett and travis were just the inventors of it and ryan graves was the ceo was gonna run it and i had just failed in putting up a wine social network called cork and it was because it was a distraction to my core and so i was affected by thinking that if this is their side hustle it's not really them were reasonable by the way totally reasonable luck and you'll be right nine out of ten times the second one hurts because travis came back to me on this there's this grass know i have no idea where it is in san francisco like a little park i drove by at like seven years ago and got like the worst feelings i'm like i think you'll go back here every year once a year for humble well i'll tell you i wanna you i know we're gonna wrapping up so let me give you the real this is something i really hope helps a lot of people i have completely gone the other way let me tell you what i mean by that i am now completely in with investing only based on the person i have to hate that would be the word i and i don't like that word i would have to hate the person's idea to not go if i think that the jo is a gangster and it's worked that for me there's a company called mc mack where i just saw rachel had one meeting with her and i said she's one of us right that's it she's one of us and she's pivoted four times but the company is a monster now and is well on its way and between the uber thing and the rachel thing like it's kind of how i'm navigating web three right now i'm really trying to pay attention to is this person one of us because i think there's something about a human ability to wield their way to the success even if they have to completely change the business model halfway through i love it well we you supposed to bounce three minutes ago we don't wanna go over your time i it sounds like it looks like you're in the hampton and it sounds like someone's preparing dinner right now is that right this is that right got you you're in the kitchen you're in the kitchen do you have someone who is vacuuming and cooking dinner right now we're we're setting up infrastructure for the weekend but listen i i let me say this it's super fun for me to see this show pop from afar like they're not you know it's a very funny time in society where like work ethic and the grind like i i'm incredibly excited that we have a balanced conversation but the energy of entrepreneurship is just such an important variable and so i i appreciate you guys are doing this space and i'm not gonna i'll have to ask him if if it's if he's cool if i blow up his spot a little bit but me and gary had dinner with like eight or ten other people like two months ago and i went back to this guy's house about a month ago again for another dinner we're gonna have to tell the story about this guy's house it it was like the craziest house that i've ever agreed too and pretty we're gonna stuff we're gonna tell tell listen i'd love to come back if whenever you guys feel is a appropriate time for recycling a guest hit me up i wish you nothing but good and and thank you for having me on yeah i feel like i could rule to word i know i could be what i want to put at all in it like a days off on a travel never looking back