#24 - Unicorn Signals, Alternative Milk & Movie Incubators

okay we're good to go million dollar brainstorm it's friday so right off the bat three things that are follow ups the first cloud kitchen thing we talked about it you called it it was reported travis calendar raised four hundred million dollars from the saudi from the saudi which was pretty controversial right regardless it's still it's interesting it's happening and i would say that this is not one where i would shy away all of a sudden and be like oh because travis just raised four hundred million opportunity sort of gone because cloud kitchens are very brick and mortar go city to city and make this happen you can do one in tampa florida and you could do one in in london you could do one wherever and no i wouldn't even go to the point of saying oh it's tapped up what no i would say like it's like well if you're the big number if chick f a exists can mcdonald's not exist amongst gen z i i said this last time eating out is the thing they spend most of their money on yeah there's a great chart that shows like wallet share or dollar share over time and how takeout out and delivery it's just basically going up and up and up and it's people spending more money eating outside the home like reading from restaurants rather than cooking but the majority of that's coming from delivery which is kinda like no surprise yeah it's actually i think more cost of it like it's everyone says like to save money cook at home i think i probably save more money eating out i don't know about that alright that's one follow up so cloud kitchens yes i think what else do you got one follow i talked about the conference i went to i wrote about that in the trends group and it got like two hundred replies in a few hours did do you happen to see that no i didn't see what did you say and then why was i said two things that shocked me that had happened over the past couple weeks the first was i went to this fancy conference met ton of people the most attended session was one about like depression anxiety and how shocked i was that some people who were there were billionaires and the and i'm like man these people should have their shit together and they don't and that was kinda of depressing but cool and second thing was i had a friend's sell company and we looked at the atm slip and it was like crazy high yeah he was still stressed out two hundred million dollars and people liked hearing that i think it was like they liked hearing that the people they look up to are fucked up just like the the stars they're just like which i love hearing right i love that's why i like reading biographies i'm like oh this person i look up to is totally a shit show just like hey you know the real deal right like i've have you ever noticed if you meet somebody who's meta a celebrity i know about you but for me the first question is always what was he like or what was she like and if you think about that i'm not saying like what did you guys talk about you know i'm asking what were they like meaning like in reality what was their personality like did you get along with them how did they treat you that sort of thing and that does fa me i wanna know what the person's really like and that's why confidence is like lobby conferences is cool because you've got to be kind of sitting right next to tony hs and all these other people who you otherwise would not know right provides what you read in the news tim west from pandora i talked to him one time and i was like have you met your musical heroes what was that like and he said they're all fucked up they're all because a lot of them are like weirdo or diva right there's a founder a pandora right yeah by the way anybody hasn't seen the hustle con talk where he talked i don't have how many years ago this was maybe this was in two thousand sixteen so a couple years ago go on youtube i think it's still there or if you just google like tim west employees hustle cod right there was amazing thing where pandora was going through some tough times and apparently people love pandora so much and he was such a strong leader that he was like look we're in this dire situation and basically they didn't pay people for a year two years two years of deferred payments basically and then he raised twelve million funding after a few years of the business and he said like five or six million of that twelve million he had to give to the employees or back well he was at the conference i went to and i've i've become friends with them since he spoke at household con and he tells me stories he was like so that's actually illegal not paying somebody exactly even if they agree redo it's illegal and he said i was gonna go to jail he got sued and he thought he was gonna go to prison or jail or whatever it is he was like i i went to the hospital twice because i was so panicked i thought i was dying and so i love hearing and talk about that he's not a strategy i would advise but it's not crazy effing story and that's why i say and it was talk yeah it won't always work probably rarely will work but it worked right you wanna go into an idea first yeah if you had never listened to this before it's called million dollar brainstorm me and sam just shoot the shit talking about different ideas or trends that we think are interesting we piggy piggyback off of the hustle trends newsletter product which is i think you guys sent that at once a week and basically it's like super well research trends and things that are interesting and early and growing and spaces where there's still a lot of opportunity so yeah so it's it's trends but it's also it's like we find problems that need to be soft of yes because like i've entrenched to my industry sometimes i don't actually know what problems exist out there so if i wanna go and do something i'm like oh that's a cool that's a validated problem right and so trends you know cost money but it's a lot of value what we do in podcast just is we react to the things that we're in there the things that we found you know personally me and you found interesting from it or just ideas that we have thought about during the week yeah and things that we've heard about because you we have a big network right exactly okay i will start with one this is something i would have never said like three four years ago but think it's a really good time to start a movie studio or production studio here's why i say this you have all these big companies netflix disney amazon facebook that are trying to be they're trying to all compete with netflix essentially they're trying to have content people pay on subscription apple another one of them that has their tv plus disney plus espn plus there's all these services that they're trying to get millions of people to pay ten bucks a month to subscribe to their content and the problem is they all bid against each other for like existing shows so i think famously people saw like friends got a hundred million dollars for one year to stay on netflix because you know everybody wanted to have that piece of property friends the office that's sort i all these companies are saying look we need our own original content we will pay to produce this content and then we don't have to bait it against each other for it because orange of the new black that's ours whatever it cost to make it doesn't matter what it'll pay off over time so now there's is extreme shortage of talent and content that all these networks are really hungry to buy in fact this podcast we are talking to qui which is a new one started by the guy who started dream works he sold dream mark's four billion bucks and now he's got a new startup up idea and he's raised two billion dollars pre launch or this thing called qui which is basically like short ten minute videos the rumors that are around that company is that they're paying crazy amounts of money for content exactly so we plan to talk to them about they're interested in having a show around money and finance and and start up ideas and so they wanna turn our podcast into a show and that's cool so and it was my is that there's a shortage of content there's a large number of buyers and the buyers have a big big business model because they're selling subscriptions around the world so they have more money than ever more money than tv stations used to have or hollywood film studios you to have so i think it's a good time the way i would do this is actually like creating y comb for movies so i would go down to la or i think adam was on humble is a good area near la where where they shoot a lot of stuff and i would basically say here here's an accelerator you wanna create a movie you wanna create a show this is an accelerator you come in we'll give you a small amount of funding and go shoot a pilot and then we'll have a demo day at the end where the buyers from netflix and amazon prime and hulu and all the others they'll all show up and they'll get to see these pilots and you can get funded and so i think there's an opportunity to create the yc of movies what do you think i'm a history guy okay okay i'm we're not gonna criticize or you can poo one or compliment that idea yeah but let me tell you the histories you you heard the phrase content is king yes okay so the guy you know who created that phrase or who's a sum nerd reds stone okay who's that he started via com okay like owns mtv and a bunch of other stuff the reds stone family they're some of the richest family in the world he's about to die he's probably ninety three ninety four they own dozens and dozens of media properties hundreds of media properties that you definitely know about and so the reason he started it is i believe his father owned a movie theater and he said oh there's these pipes we have to give content right so he created the phrase content is can you went into the studio business i guess you could say or proliferation of of information business okay another person type turner your favorite my favorite one of my heroes i have a poster of them i think that's a poster over right there ted turner the way that he came to be was his father create a billboard company he took the billboard company over they extended into radio then he extended in the tv then he said let's create a twenty four hour news that work right when he created that twenty four hour news network as well as the other networks that came to be cnn exactly and as well as turner broadcasting group hugely popular he bought the hawk and the brave because he needed content for those now works he also bought mgm you know what mgm is the studio company he bought that because he wanted their library of content to put through his pipes he paid north of a billion dollars and then finally it there's actually one more of these but i can name tons of examples so this idea of people need content is actually has existed since the beginning of right modern media the question is is is the demand higher now than it was then i don't know i'd like to see those data but historically what you're describing is incredibly lucrative if done correctly like saying is i think there's new pipes right so there's so there's definitely amazon prime disney plus apple tv stuff hulu those born and around ten years ago most of them right the those are largely new services especially they're content spend so i think netflix is putting up twelve billion dollars in the next year just netflix and like i heard prime video is spending a hundred million dollars just to produce indian tv shows like bo tv shows because they wanna go bigger in india they're like alright hundred million dollars create some new bo shows that are exclusive to us now where are they gonna get this they need basically a bunch of talent to to create the content and and you kind of have a a no risk proposition because if it's not one network you have to the opportunity to shop it to five six seven eight other buyers so i think these are new pipes i think they're big pipes they're not this not a new phenomenon i agree with you too tony it's not new probably more and then here's another example endeavor the w me they own the who we were just talking about they just pulled their ipo they were about to go public they pulled it probably because of the i don't know why actually i think the market dishes were kinda bad yeah also their situation was kinda speculative it was a little bit it wasn't a slam up case so it's like well let's go back out when there's good timing however i was reading the paperwork huge company right like they had some losses because they've been growing and then they took private equity money but huge business like billions in revenue are close to leads of revenue huge eb like so really interesting right way bigger than thought sounds like a pain the ass to work at but huge yes okay cool and you know the other thing is that even if you're not producing the actual content if you created a like lambda school where you're training people for the trade so how do you get people who know how to do digital animation sound lighting editing all those things i just think that there's a talent there's demand for the talent because there's demand for the company and follow up thing to that is do you remember how you were talking about religion and media you know who mark burnett is yes do to you see what you launched recently now what is it in the process we're raising a hundred million dollars for a christian streaming service you gets it so if you're the business of creating christian content he's gonna be looking for more i can only assume mark as a listener that's the only conclusion i can make from that likely alright what else are again okay this is not necessarily an opportunity but something that i think was incredibly interesting okay so jason lump who i think will be on here soon owns this thing called sas sas is a community for saas companies it's also a huge conference it's like a twenty five million dollar a year conference business but only like six or eight employees really small but he created echo sign mh which could have been much bigger than it was though it was quite big it was a good exit for him it was a it was basically doc sign and it could have been doc sign and he has a blog where he talks about saas so he said something really interesting this morning which was if you're at ten million arr growing at hundred percent so you're doubling or you're gonna double if you have net revenue retention of a hundred and fifty percent and a lot of your leads are coming in viral as well as an n mps of fifty you already have a unicorn and the reason why this is intriguing to me is a these numbers are actually lower than i thought but he's incredibly bullish on creating b b saas company and he goes you could actually tell really early on right these five signals high correlation with that signals that's exactly what it and so i saw this tweet and i was like oh man this guy has seen everything here's the signals for huge growth and he always says you get to a million in revenue and you have high retention it's inevitable that you're gonna get to ten right don't quit don't sell and if you get to ten it's inevitable that you're gonna get the hundred now he's like way optimistic right so who knows but i thought that this was a really really good insight because it kinda gave like perspective on what's possible yeah like that when he's on the podcast we will have him break this down a little more detail what i would do then if i wanted to create a huge saas company i'd be like alright what can i build that fits this criteria that's think you can come an idea that way like you know isn't that like saying if you have check meat you're gonna win it's sort of like can you just say if i had a company with ten million annual recurring revenue and high retention how do you back out from that to an idea you gotta start with pricing so it's like okay so what's the pricing to this i actually did try that i was like as i thought i exercise so you'd probably wanna charge more than five grand a here mh so you can get a sales team you've gotta create something that can have ancillary products and need more seats at a company signed up than before i mean there's like a bunch of like interesting so like that would rule out like perhaps small medium business stuff right right i think there's a bunch of implications there yeah it's just like interesting because you say how do build something worth the billing dollars that's incredibly challenging to think about so this breaks it down into more you so creating something that's a ten million dollars in revenue that's only eight hundred thousand a month in revenue that's a lot of revenue but that's not that much revenue right that's easy to to work backwards too speaking of revenue i tell you an idea that i think is gonna have high revenue yeah okay so this is a company i saw yesterday that i was like oh this is really interesting it's really smart so i'll tell you what it is the company is called first base and what they're trying to do is so they're picking backing off of the remote work trend which we we've talked about on here now when most people go after oh remote works is gonna be big i think that's probably a general statement right now that most people would agree with especially in tech i've never been more bullish on it so a lot of people are bullish on remote work well most people are trying to do is trying to build these like tools for remote work like slack is a tool that helps people work remotely there's people trying to make like google doc type of competitors that you can use remotely to work on projects together fig and other company but some people are trying to tackle the problem of like hey when you remote you're not connected to each other so here's some social things you could do together alright that's all interesting this is a totally different take that i hadn't really thought about so here's what these guys did they're basically trying to take your work desk and they're trying to make it so that you can have that at home right so if you're gonna work remotely you're gonna work from home what these guys do is they say alright at hq you're the office administrator when somebody comes to work at their office you give them a laptop you give them know maybe a pair of headphones they have a a drink station over here that they can use they have a desk maybe sometimes it's a standing desk they get a chair that's what you get if you work in it all what these guys are doing is they're making so that you can get all those things at home so as an employer you have a little checklist what are all the things you wanna provide like a welcome box it's a welcome box awesome a remote worker so it's like what are all the things you wanna provide to remote work cool the chair ten bucks a month and you're gonna have this type of office chair and it'll be sent to that person and so you just provision what's that called you push first base is the name of the company space first base and so it's if they send you all the stuff that you need they send you all the stuff that you need the company sends it to their employees so the employee gets like a branded like okay cool like yes i do work how big this legitimate it's brand new like like they're just they're applying to white comb right if i had time and i didn't care about these people which i don't know them but i don't wanna completely rip them off but i would just rip that off okay well the fair fair somebody wants do that i like these guys i i'm gonna meet up with them and try to help them it sounds awesome i would get that the founder of zoom yesterday said if he had a start over again it would have been all remote whole company whole company he said san francisco was too expensive zoom like the hottest thing go it's prohibitive expensive it's impossible for him to go from not remote to remote yeah like he would have done that and remote is one of those things where if you start with it then it's okay because you build all your processes around the fact that everyone's gonna be all over we're going to that process now over start and do it more remote but it's hard with mars start with everybody in an office and you start adding remote because weird oh you're in the meeting room you're like somebody oh we should call in in case these here and we'll never talk to them on the screen so here's something that's interesting facebook messenger or facebook portal you know facebook portal i have a portal i'm thinking about getting rid of our conferencing and buying one of those for every employee so similar to the first basic thing it's a hundred dollars that's put this in perspective i'm gonna say it anyway but i don't know we're allowed to say our contract for our conferencing system well i won't say the name of the company it's twenty four thousand dollars a year mh a lot of money that's almost a thousand dollars ahead right very expensive and now that we're about to end the contract they're asking for the hardware back apparently we've been leasing at the whole time right so it would make way more sense to buy these facebook things but you can't do a giant call that right like portal is one to one or just like a group of four so that yeah that'd be one that's the big the biggest downside but it's only a hundred dollars right and use a one time cost so that's an incredibly interesting okay here's one real quick yeah i did you see the lowest of digits dot com digits dot com yeah yeah yeah i know okay so i've always been been asking this for a long time so tracking a lot of people don't realize this but did did you do the finances at i did not we had a coo who would take care of it i don't know if people notice this but their whole premises you started a business to solve problems not to operate the business what that means is you have to do a ton of like upkeep in finances closing our books takes about one person like ten ten days so i don't get our revenue and our expenses until the tenth per month what per per how many per what from month per quarter per we close our books every month yeah so in order to get our profit and loss statement every single month that takes ten days insane it's one employee yesterday to do that whole time and it probably is one and a half employee because she has to ask right everyone so but these guys i don't exactly know what they're trying to do yet because they're being really very stealthy stealthy yeah but i don't think people who aren't in the mix know how how challenging it is to track your revenue and your expenses yeah i'm pretty bullish on this because a i agree with you that's a big problem b these guys are both serial entrepreneurs they already sold a company to twitter yeah and jeff i think these are multiple companies saying that crash crash yeah twitter has so they're really good at design and product and so like if you can make software like you know payroll software and whatnot did you rely on quickbooks and suck we use quickbooks so do we and it's okay but i have an alert on my phone and it tells me every time there's a credit card purchase about four hundred dollars yeah and so i i kinda but like i don't know what our profit and loss is until too late so what's the date now it's today is the the eighth i still don't know how much profit we made in october yeah that sucks and so it's actually a huge problem right okay so you so you like that you like that company but like the too that's good i like that space i've always wanted it i might just tell me like why is this so hard to to create our p and l statement each month right it takes forever right okay tell me what you think about this idea i saw a company called so far sounds have you heard of this no okay so so far sounds what they're is they're taking the airbnb model but instead of saying they're they're taking basic people's houses cafes lounge extra space but instead of saying use it to sleep in it they're hosting like small musical concerts so it's like an intimate musical concert you don't it's not coachella it's like fifty people in a room with cool lighting alcohol and and food about and so you buy you can look san francisco and you can basically see that someone's hosting it at their house this other person's hosting it like could use this office if you wanted to people hope put all these unique venues up there and as a person browsing it's just like do you wanna go to like a little mini concert and you get to meet the other people you guys actually get to talk to each other and then you get to see an artist usually one that you've never heard of but it's like a local music are you bullish on this i'm asking you what you think of it horrible don't like why i would run like if i was asked to be part of that what don't you like i would say i'm wrong most of the time i hate it i just think that it's not really a problem that's like what's the problem that's being solved it sounds like a fake problem i think so here don't think it's a problem i think it's even like going to concerts in fact like live music is like growing yes it is growing i don't think anyone has built a big thing in that space though well the musicians are benefiting right the musicians this is now the main business model it's like live music performances because the album sales and streaming royalties are like so low in comparison so they make all money like touring and doing shows and so this is for the person that wants to go to live music but doesn't want to go to bang right so they're i don't think that's a problem i'm been using in this phrase that's a stupid game the stupid prize okay like that is not i don't think sounds good okay if you if you agree disagree degree i wanna know tweet at me and tell me you at least it's not a venture funded thing right i have another question for you so this one comes from the trends email in this email there was a reference to type of alternative milk i forgot i like oat milk tiger nuts oat milk which we covered a while ago oat milk almond milk soy milk whatever there's all these alt milk tiger milk was that it's from india i believe so this is what the trends blurb says says in the oat milk market tiger milk is relatively unknown but the drink highly popular in nigeria sorry nigeria it's only beginning to touch the shores of the us and the uk it's a super food super rich vitamins and vegan friendly and then there's the like signals over time chart that's like showing it going up into the right and people are using nuts to create dairy alternatives for milk for butters for sour cream or or cream cheese what whatnot the question to you is say you saw this and you're like yeah i believe that this is an opportunity how would you actually go about it what would you do if you saw this tiger nut butter trend or oat milk trend how would you actually could go about digging into this opportunity if you were a reader or a listener first thing i would do is i would find out who the biggest players in the space i imagine there's a massive conglomerate in nigeria that is doing this and you're really good at finding their financials where do you go when you're finding all these companies financials if they're public you go do i do a few things the first thing i do is i go to the website and i scroll all the way to the bottom and i look at the trademark mh i find out the trademark then i search that with quotation marks in google so for example my company this company is called hu con media inc it's not called the hustle right loads of companies are like that your guys probably where we were pigs in flight even though we be our company name cool so if you search pigs in flight you're gonna go and see a ton of different stuff you'll see like when they filed for different trademarks if they do have to file any paperwork with the sec you'll be able to find that really easily that's typically what i do okay the second thing i do so i'll go on link linkedin and i would find out as many people see if i'm connected with anyone people then i would email them and become friends with them and under the idea of this is really interesting thing i wanna learn more and i would appeal to their emotion of helping and up and coming young person right and they're just gonna spill the beans and maybe i'll partner with them in some capacity or just learn okay so i would do that and doing that i would find out exactly how they make the thing or where they make thing right and then i would go to distributor and find out what the minimum order number is in order to get their attention after i did that i wouldn't create it yet typically what i would then would do it'd create a website so like if that checked the box of the manufacturer's minimum order supplies within like within reason for what i'm willing to shell out efforts i would create a website and i would act like it was real i would probably go to ninety nine designs and pay someone a thousand dollars to create the design and build the website yep i would drive traffic to it and see if i can get sales to it profit then i would go and make the damn thing order yeah and what do you do for the delay like start getting your first i would refund the money i would say if you caught us before we are ready where we apologize who's a refund right and a fifty percent off code for the future when we're ready right or i would say we're sold out gotcha and now you have person's email address so as the order stack up you can go back to all them and say hey it's right down that's what i would right some people think that's an unethical but i would have i would do that and i would refund all their money so no one is out anything and if anybody's into the episode with mo from native this is the exact playbook yeah and just so you know with mo we shared an office when he started native right i saw this whole thing right so it worked that is okay cool you got anything else for me yeah here's something it's such which were u fight recently landscape was one of the sponsors have heard of landscape i saw them as the sponsor but i don't know i don't know much about it they advertised with us and they spent a lot of money and on that u ifc thing that must have cost i could cost fifty grand mh and i don't know if i drove any sales we'll see okay don't have any inside information other than what i just said that leads me to believe that their revenues are huge but here's why they're interesting landscape it's a razor for men's pub right it's just a freaking head clipper the power of repositioning things is amazing i bought a dog trimmer the other day for my dog's nails and it was a normal dremel but they put a dog's paw on the logo right and they tripled the price and so what i'm fast buy i wanna find more examples of this is people who take the same thing but switch the positioning and are able to find product market fit easier and make more revenue along the way man is one of them if they just sell that as a hair clipper it it would have been nothing but now because it's called landscape it's like it's an intriguing thing loads of pet things are like this because you could say like this pet thing is for a pit bull or a cat or it's like well it's all the same shit right one time i needed to buy a piece of plastic for like some building supplies that i was using turns out i i bought eight one ninety nine cutting board like a fiberglass cutting board because i need a piece of fiberglass right and i was like oh man if i just change it my head to just like a cutting board that's actually the exact same piece five ago or like whatever the material i need anyway what other things are there like this where they've just switched the positioning so i like what you're saying i wanna think more of them it's not perfect but believe that this is how orange juice was made do you know the story no okay so i don't know it perfectly somebody can correct me but from what i've heard from what i understand oranges juice happened because we there was this extreme plus of oranges one year in florida or wherever it was and they were like fuck we can't sell all these oranges what do we do it's gonna be this like colossal failure because so much of this food was gonna go to waste so much of the economics we're gonna about and so instead they started just like smashing them together and created a juice out of it and then they started marketing that as like a premium product it's sold for way more them just the orange you know that's how kings ford charcoal came to be too i believe was started out a ford motor company because they took the leftover wood like ash that they had and they just like well what can we do with all this extra shit and they just mashed together and they go well this will burn for a long time looks great coal right so your time talking out like using like leftovers i like that yeah exactly and the the cool bar was it became a premium version of the product like orange juice sells at this like much higher price yeah just like this repositioning you know another guy who hit that really well and this is actually a copywriting technique so i think that's why another reason why people so to cap because for example have you ever heard of a watch that says it's got like quartz movement okay so i'm not a big watch okay so amongst watches like if someone says oh a quartz movement that's like means like prestigious or a little bit more than not having it well most every watch has that but joe sugar this wonderful copywriter it was like tell me everything about this watch like i figure out what to write about it and they're like it does this it does that he's like oh quartz movement so it's got like a space age aluminum with quartz movement and he's like and they're like yeah but every watch has that they're like yeah but like no one's saying it no one says that so let's like position it this way and he did and it worked wonderfully that's like isn't that the bad bend thing it's like our filters are are are smoke not whatever i forgot what like well every everything's like that that's like yeah have but like no one says it this way right so this whole idea of repositioning is something i've been thinking about and i think this happens on menus in restaurants so if you noticed like basically the more words are in the the description of an item the higher you can get away price so it's like if you say local han fed you know pasture raise blah la beef like that means more than just saying beef right and so we did this when we owned our sushi restaurant we we were trying to boost sales and so we were like okay how do we get people to order let's you know let's discount the price a little bit and you know discounts work that's how people sell and as soon as we discounted our orders dropped we were like what we they won the family you more value and we had this adviser who's his name is dan ariel writes it's predictably irrational he's like a famous dude for for that guy was your adviser for your restaurant yeah because that's what was that duke and he teaches that dude duke and so that's wild so we went to him and he was like within five seconds he's like yeah nobody wants cheap sushi we're like yeah because that means like means he's like with sushi expensive means valuable and he will actually he's like watch and so we doubled our prices of our sushi and our orders doubled too and so we got this four x like benefit on our in revenue because of how we did that what he told us was he goes you guys need to follow what the wine industry did because early on with wine wine was this sort of like low perception product he like but as they educated people into the different flavors the word they created a whole language and industry around becoming essentially a wine sn and he's like because of that they could get away with charging way more for certain types of wine he's like do that for sushi and you guys will make a lot of money and so we would do that we would teach people and we would create you know we would create all these little distinctions so that if you wanted to feel more intelligent and more savvy about your sushi we gave you the opportunity to do so and then you felt good about paying for that because you knew the difference that's awesome it's kinda like a and similar to pricing i think most entrepreneurs particularly early stage people and particular people who are engineers i've noticed suck pricing and interestingly i a part owner of a software company this store and we bought this company from this engineer and all we did was we more than doubled it to like five dollars and ninety nine cents a month right and the sales quantity remained the same but revenue increased by however much we increase by and you had even talked to the engineer about like dude you should increase your price right that he was what he was afraid they're like well i want everyone to be able to use it and it's like well do you think there's a difference between people who spend at one dollar ninety nine cents and five dollars and ninety nine cents like definitely not so doesn't actually price people out yeah it doesn't price people out and also i think the biggest thing is fear people who they're afraid i also call it this we've talked about this the the peanut butter and jelly theory which is like when my mother made it it always tasted it better than when i make because see how simple it is and like people think like well i just threw this in together therefore i shouldn't charge that much the amount of effort or money that you've put into something that has nothing to do with how much you charge customers for it well how much you charge customers for it is is dealt with the amount of value it provides them right so it's like a picasso could just take five minutes and draw something on a pay piece of paper people are gonna wanna matter what it took them five minutes but that's that's the value that someone derived from it right right so anyway the idea here is like your pricing should not to do with how much you paid or how much you put in something but how much the value was and so anyway i don't know how we got this but the whole pricing thing i think should charge more than you actually think clearly it's always easier to go down it's almost impossible to go up we can wrap up i also wanna do a q and a episode next week so if you're listening to this and you want me and sam to answer a question that you have we did one at the end of season one and it was great people really like liked it and so we're gonna do no one now in the notes of this episode you'll see my email it's just p p u r i dot s h a a n at gmail mail dot com i'll put it in in the notes just email me your questions and then we'll answer it next week anything else you wanna leave with before you go listen to that last episode with quiet like brokerage joe valley that's right i think that a lot of people will be surprised at how you can build a really cool company by doing by acquiring a very small business and there they'd be shocked at how they can finance it so you can finance it by getting a loan by getting a bunch of stuff i think that that is really interesting right i think it is the fastest path to having a a successful business because you're buying a already somewhat successful business you can buy with very little money down and by the way i'm not selling you anything i don't care anytime we say little money down it's like your son no i don't i had to catch myself but like this is the truth is why i think it's interesting it's because it's like you don't need a lot of money to enter the game which is good for this one guy named ryan i think it ryan k u l p i saw he released a a cool course called micro acquisitions and it's all about buying these hundred thousand to five hundred thousand dollar companies nice it seems really cool but last thing i would say is listen to that because i think is that's interesting and like something one percent of people know about okay good we're done we gotta go back to our day jobs you gotta go run the hustle i gotta go to twitch let's let's get out of here sweet hopefully we got recorded