Alex Hormozi: Why He's Trying To Make More Money & How He's Doing It

like everybody here we can all consume whatever we want so we can find whatever planes we would like you know you fly private you can say the nicest hotels get the nicest got to dinner everything single another week at the five star restaurant at the michelin star and you can do that for the rest of your life but i can't buy that skyscraper right there and i can't buy that this huge company and so it happens just like the things that you wanna buy change and so you create a new deficit for the amount of wealth that you want again this is just assuming you like game and it's so like i like the game so just wanna keep playing it i feel like i could rule where i know i could be what i want to put at all in it like a days off on the road where should we where should we start because you do a lot of these interviews what what's the fun version of this for you because i feel like if somebody actually wants to know an answer to something it's been published you got a book you gotta a twitter you got you got a thousand youtube videos like it if you're motivated you can go find the answer like i tweeted it out you know alex coming on the pod day would you like to know they're like i'd like to know who thoughts on offers making a sure offer like yes literally his book it and i think the book is like free or ninety nine cents so like that's just a lazy lazy question at this point but i know whenever i do interviews there's some version of the conversations that are more fun or i'm like yeah when when we talk about that stuff it's more interesting to me and that kinda lighten me up in a different way what what is that for you well i'll say there's two things that i've been probably focused a lot on one is obviously acquisition dot com and so like what we're doing and and kinda of clarifying the mission between well all the stuff that we're actually doing every day and then the other side of it is just that the leads book is coming out soon and so it's tough because i'm sure you guys have had stuff that you've worked on and it's like been on its way coming out and all of your energy is going into writing it or building it or recording stuff about it and then you can't talk about it because i don't wanna i don't wanna don't wanna talk about it all the time until it's like ready to to go off and so the six weeks beforehand is one it's like we have all this pre recorded stuff i've got like pool courses like i've got all this shit that's gonna that's gonna drop when the next book comes out but i haven't talked about anything leads related for like two years because i've known because i've been working on for two years for the next launch so those are the two things that are like top of mind for like what we're doing on the mo media side in acquisition dot com and then and then the the weeds stuff what set a split between those two so you got media you got acquisitions dot com give me the time split so given on a given month your what percent fizz pie chart what do you spending on on the content versus acquisitions and then also on the money side like are you making more off the media or you making more off acquisitions what's this what's the relative difference between the two yeah we we lose money media so we we don't make money i think i think between like adsense and if you consider book sales a part of that but i give the book away for ninety actually amazon updated it because we reap uploaded it with like some fix and they wouldn't let us go below one nine which now makes all the times i said ninety nine cents like people were like he trying to get us it's six anyways but no i think the book does the book does about a million bucks a year in profit in terms of like what it what it makes and then and that adsense is probably like five hundred grand a year so it's like one and a half million and that that that barely covers the media team and so that's top makes the team right now we've got ten and then we've got vendors are you enjoying it yeah i dig it it's fine right now we do i report once to answer your question sean about time split we do one recording day every fourteen days that's like the direct to camera stuff and then did you off i do a podcast like got one of my guys here trevor who's reporting you know our our side of it so that they can clip this stuff later so are you any plus one one dedicated day twice a month are you enjoying like the celebrity that comes with this you know getting notice and things like that enjoys probably like like because i feel like there's some people who love attention and there's some people who hate attention i'm like right in the middle you know what i mean like i was i was purposefully deliberately not public because i wanted to be reaching anonymous and that was kinda like the mission for a long time for me and then now that we are on there i would say that there are pros and there are cons of increasing you know fame or what do you wanna call it recognition i think the pros out outweigh cons but there are archives like what you get weirdo you know what i mean like we're we have we have security you know what mean like we go to like i can't i can't attend any of it like i can't attend of it like i can't go to somebody's like small group meetup up like i can't like guess it's very hard because i can't enjoy anything because i'll have a lot of people were you know asking for if advice your signatures or pictures or whatever and like again i am grateful shit to everybody to do that it's just like it's a different experience so i just have to i have to if i'm gonna go to something i go into it knowing that's my experience is gonna be not whatever or whoever's on stage yeah because the online experience dope but it makes the real life experience less different it's different that city fundamentally just changes with the person experience like if i walk up so like what's interesting is that i was able to or i have been able to to to mark how social media and like the the audience has grown by the number of real world interventions i had pretty at a time and so like i'm remember the first time i recognize recognized public and then it was once a month and it was once a week and then it was one today and then who was every time i walk outside the door and now it's about five times or six times every time i walk outside i get i get recognized and so like i just imagine that that just continues to compound you know with time and with distribution so it's just it's different but here's the praise we get the best talent for our portfolio companies and f acquisition dot com because so many people wanna come here we get them for at market rate or or below because of all the learnings that they want and the other people who are also pro players on the team we get the best deal flow that's all proprietary companies that wanna work specifically with us they're not trying to exit to anyone or sell to anyone they want to work with us deliberately to scale the company so like i continue to do it because i'm more rewarded for doing it than i am punished for doing it but there are definitely you know you get weird letters and you get you know weird attacks and things like that like it's just you know it's it comes with the territory and it's to be expected and so for us to the pros that with the cons but their are kinds i remember talking to a tim ferris and you could just tell from the outside but he i don't know if he's mainstream famous or not or if i'm in a bubble but he's popular enough that he has all these people listening to him and all that stuff but he when the cool thing about him was he had high profile people and people who like a lot of people who listen to you you're like i'm thankful that you listen but i don't exactly wanna go hang out with you but she would actually have a like ton of listeners who would reach out to him who are like you know like the matthew hayes in the world or or some like football coach or the ride holiday has that too where it's like someone who's like a big deal who you're like oh my god you listened to me that's amazing i would i would be honored to go and hang out with you and he had he had stories like that and sean and i have had that a little bit where like some like business person who we both admire be like yeah i heard your pod on this and i'm was like oh wow you listened to that has that have you crossed that threshold where you have people who you admire who are messaging you and being like man what you said was really cool what's your you know i have a question about y z you're like oh man that's amazing my heroes wanna talk to me now yeah i mean yes i don't wanna put anyone on last but like there been some mega mega influencers who are like followed me and like hit me and they were like dude this is awesome and i'm like well now i think less of you because you follow my content so yeah big red flag there you know i i told leila the big red flag i had with her was that she event and god kidding but yeah like some nfl players that i used to like you know really look up to like huge ml stars like and like huge huge podcast that that you know followed me and yeah it's been cool one of the one of the reverse situations is when i like go to like see i'm like yeah how is so and so so i'm reading a click and it says like follow back and i'm like oh shit japan no it's it's i mean it's it's it's surreal i'm sure you guys have had it's surreal real it's very well i grew up like in my lance i'm armstrong i'm i'm big the endurance sports and one time i got an email and it was like hey just want let you know i love the hustle and he signed it with lance and the you could tell was lance armstrong by his gmail and i was like i don't believe this is really late time i'm armstrong if it is here's my phone number call me right now and he he he called me within like three minutes and i was like he paused goes say on what's going on and i was like lance is this completely youth food for yeah and i and then i i had a couple other athletes colorado us and i remember thinking like growing up playing sports i would have killed to head athlete like this recognize me and i could never achieve the athletic greatness enough for them to acknowledge you know my talents and then now you just take this total like outside path and you get to like one time we had like this was really weird but like the lead singer of lincoln park mike he like tweeted out that he likes our pod and the hustle whatever and i was like oh that's sick like i never i would have wanted to have met you but there's no way i could've have gone down this normal path but if we went this weird way we finally kinda met and i thought that to be very strange and awesome yeah it's sort of that be so good they can't ignore you as a general advice for life like what whatever you want is on the other side of you being so good that you can't be ignored anything gigs and and at anything and also like it doesn't have to be i think that that's kinda of what you're saying sam it doesn't have to be the thing you expect right like oh you want you know you you want to meet warren buffett someday you don't have to be a stock picker that's not it's probably actually the least likely way that warren buffett gonna wanna kinda wanna know you and in general you shouldn't really pick based on what they want you should just pick based on the thing you can actually get so good at that you can't be ignored and it's hard to do obviously that's hard to do but it's like more of the it's more of the right guidance than than many other pit bits of advice you could take as as far as like a north star for how you're gonna like you know what you're gonna go for right exactly and so anyway it's cool that we're all kinda like seeing that in reality come true yeah are you enjoying acquisitions dot com because i know when we first talk to you i think you are maybe only a year or two years in you're relatively new i think you had just sold jim march are you happy with like is it what you thought it was going to be and do you actually like doing and by the way explain what acquisitions yeah what what that is yeah so it's acquisition dot com the region reason i i emphasize that is because there's somebody bought acquisitions plural dot com and it's just a not it's not me it's different company me but acquisition dot com is our portfolio of companies and so i'll give the the the tl ninety second so i had a chain of james took that license the ip to five thousand locations started a supplement companies sell through that distribution base and then service a software company we exited all three of those companies in twenty twenty one we take out forty million in distributions prior to the exit and we sold forty six point two million and the software company i did separately or sold separately in a strategic deal that was all stock and i i said it because you guys have probably laugh because like i i it were like googled doctor was a net worth and it says fifteen million it's like i sold the company for forty six and all cash so like i don't know we got that and the only reason you do that and get that money is because it was making money so so anyways that was pretty much twenty twenty once we closed a december twenty fifth they're six i can't remember it was it was one of those days it was right around quick it's twenty four christmas eve that's the what christmas eve we is we closed and then we started acquisition there on the next day and so that was when we like oh we made our kind of declaration at that point though i'd already made three minority investments that had done really well and that's why i wanted to make that kind of my next big thing if you started at the next day that means you kinda had this idea cooking so what was the what was the genesis why did you why do what made you realize oh this is what i should do next i should buy these minority stakes and in companies like the one i just built and i should get this domain name which i assume you had to buy so how are you so ready to do what was the thought process so during covid kinda obviously gyms were affected by covid you know we took a hit but we took a major hit you're were so profitable but it was it was a big you know it it's hard and so to kinda get some space because there wasn't a lot like i couldn't do more you know it was give me like obviously we you know we we pushed things harder to about like i was above the business enough that there was nothing i i wasn't i was gonna do anything right and so i kinda to just needed to take my my mind off things and so by by happens a guy who owned a photography a single photography studio made moving on my calendar and in the first and this is not how you do this and everyone like do not do this but i was actually still taking some calls for allen because i wanted to do certain like testing and this is before i had a big brand so i was just kinda like founder talk and to customers to get an idea of what was going on but she knew me enough from just like i've written a small book in the gym space called jim one secrets that he had read that book well like love did applied to his photography business and she took a sales call through my software company because he knew i was taking the calls and so he hopped on and was like i had no interest in your software he's like but could you please give you twenty minutes and i was like sure man alright and i just liked his vibe and so anyways we ended up doing a deal so we took minority percentage of the business and that business i think had done one point six they were doing one point six million a year at a single single location which pretty awesome for a tiny like for photography studio and he had i think he had taken and this isn't all the book clearly because there's a amazing thing but he taken some of the book applied them and it had grown the business a lot and he had an agency for for photographers first to kinda like do the same model for them right and so we were having conversation and he was like yeah i did exactly what said and all the photographer studios add four hundred thousand a year to the top line when they use our and i was like they add four hundred thousand was yeah on average and i was like okay how much are we you selling this thing for and i used he's like the pennies and i was like okay so let's not do that and let's own them all and so that kind of pit so he actually and this is where like the the trust factor of what like the inbound deal flow is what i love about i can comes we have a lot of trust and so we actually shut down a business that was making in i think five hundred a thousand a year and profit that agency side and shut it down to zero because he like believed that he believed me enough to to go all in on this other direction of private ownership of all the locations and so as of today and that was twenty twenty as of today we have thirty six locations in that business you know just thirty plus million a year and it continues to grow by at one or two locations every month and so and what's what's that business do janet varies so it's children's photography right dude that's insane and you so when when we last had you on i saw i went to website and i was like what what are the acquisitions great what are the what did they acquired and i saw basically like enchanted fe and i was like okay cool they're doing like done of the gym launch playbook on this other space that makes a lot of sense and if i go there today there's still those same companies so how come you're not putting new acquisitions up there i assume you've made a bunch of acquisitions like you know in the last twenty four months or whatever why not putting new companies out there you're pretty open about other stuff but in this case you're not putting them up there and then also let's start with that yeah main reason so there's two big reasons why we're not public about the acquisitions number one is that that it's my brand is grown to such a degree that like if i say hey this business is awesome and it and it has a national like enchanted varies is less of it you know like unless you're in one of those thirty markets and also so my audience isn't like moms with kids so like it's it's it's you know it's it's armed length enough that it doesn't affect the business but as you can imagine a lot of businesses come to me are business services and they're you know they're national they're international whatever companies and so like me endorsing a company would five ten x the company overnight and so that comes with a couple things one is that i haven't negotiated those deals with brand endorsement included if i include a brand endorsement then i own majority i'm not gonna like i'm not gonna risk my face on something i can't control and so these are most of most of the investments we have are our minority we do have a majority investment as well but that was one that came in as minority and then i just bought more excel of the business and it was up our wheelhouse the second thing is that if we were to exit those businesses and i had done an endorsement in a minority physician then guess who has to go with the deal me right like i would as an acquire if there's some massive influencer that's associated with the brand like you're not getting out in a deal and so our goal is to build value in the in the business so that the business is sell and more valuable and we use my face to bring deals at and so that's why i've been really really tight lip about the businesses how many deals have you done so far we've done right now we have eleven portfolio companies is it all your own money or you raised a fund no it's all private online right damn so you're you're going all in on this and so i asked you originally are you happy with how this is working out is it what you thought it was like what's it gonna say now well yeah i could be you're like well because he's like well i i didn't i didn't realize like this is actually just some mostly a due diligence game and i don't know if i doesn't i mean what's the worst part about it what's something you didn't kinda what's a downside you didn't fully respect upfront so i think there's like knowing something and then experiencing it are two kind of separate things and so like i know that in a minority position we have to use soft influenced to to to to try and move things forward i know that but i would say the the most difficult part is is is half listened to advice and so i'll give you an go so if i say hey we think that this operator in your business blows and when we need a new operator person says okay and then we find them a new operator and then they hire the new operator but then they don't fire the old operator like what the fuck fuck right right very hard to win at that point right it's like well i list so like it's kind of like listening to half of someone's died at advice it's like yeah yeah i'm doing the cheat days rushing the cheat days it's like get but there's the other days that you're in a deficit yeah but you said cheat days raging metabolism was like yeah yeah but you also need a deficit you know what mean and so it's it's it's listening and completeness and so i don't know we may move to like because like the business that i i would say transparent that i enjoy the most is the one that we have complete control and so we bought majority of that business and we were growing that one like gang busters and at the speed to action is so much faster that being said you know we've you know i would say like the the biggest win we have we've been a company that came to us at did sixty million the year before now you know did fifty last here twenty million in eb so that's the biggest company that we have the po we've had you the area is obviously one that you know we're that had two ish with you know combining the two things still they're pacing two a half million a month right now or two point seven something like that so we have had a pretty ridiculous deal right like i had a friend messaged me that was like dude p playbook is obviously amazing but he's like this deal that they offered us he's like i don't know who would take this and you know he's like there's i don't know if this is actually the deal or not but he's like basically he was like no money we'll give you no money but we get ownership if we grow it above x so it's kind of like i i think it sounded like more of a risk risk free strategy in a way but is that is there a standard deal structure and is that it or you're not putting capital in you're basically saying give us the equity we guarantee we grow by this much and if we don't some out know some some claw we've you've honestly a bunch of types so one of the one of the so this is a to answer your question sam like probably even more pointed now that we're getting into it one of the hardest things about like like the investment cycle is that when you're making a product right you're you're trying to sell a service you can idea it create an mvp pitch it see how it goes within like sixty days like the whole like the whole thing soup to nuts you can you can do that whole cycle sixty days deals it's like you can think of in you know an idea for a deal structure it takes ninety days to six months to close the deal and it might take a year to see even just like some preliminary of like how do we like this structure how does it work etcetera and so like i still feel like we are most in our infancy in the deal structures that we have so like in terms of no money in there are deals we put money in there are deals that we don't put money in it depends on the deal like the big one for money is it depends on what the need of the business so like if we're opening up a lot of brick and mortar locations like we're about to i think we might have actually closed to there tomorrow on a a twenty eight location chain that one requires capital to open more location so that one i'm like i know where the capital is going i see what their returns like capital are let's get back right if it's a national based service business so let's say it's you know mortgage sales like they don't need there's no capex like they just need recruiting that you guys right and that's how that's how sales gets increased and so like that's where that's where where does the money like where where's the money going and was it used for like what i don't wanna do is just like someone gotta go buys a man mansion and after i write a check like that's not the goal here like the goal that we're both together wanting grow this massive thing and so it just really depends on on what the what the nature of the deal is so that's number one in terms of of how we structure them originally i have a grandson slam offer to right thing now it's just much more straightforward like we were you know we're equity holders in the it's interesting because it's actually gotten less cute and less clever at this time has gone on but like it's just much more like this is our deal like we own a big chunk of the business and we're gonna to grow it and i mean the thing is that for us based on my hold go pho like i put five hundred thousand a year in labor into the businesses and like that's if i wanted to like not mark up labor like that's hard cost and so if a company for example you know was doing whatever five million a year in eb and i'm and i'm buying you know a one third stake or a forty percent stake in the business like how like what am i valuing that and how much of that value gonna come in the in the form of of just work that we're gonna to do and so that's where that's where the valuation and how much cash etcetera kind of becomes more like a basis but yeah so the assurance is one is soft influence has been something that i've been learning we may in the future just do more majority deals where the founder stays on because like what i wanna do is show how much more we grew this i mean we do have obviously some minority ones that are crushed too but like i i wanna murder this deal i be like wouldn't you like to have forty nine percent of something ten times bigger or a hundred times bigger and so that's kind of the the the angle but yeah we're we're learning every day we talked to a our good friend andrea wilkinson considering he's done a similar ish thing as you and then we've got a handful of other friends that have done something and they're like well i got really inspired when i read the swarm off book and that like taught me a little bit about compounding growth and other people have cited other books or things that they learned they're like no this is the way to go and that's what let's why get into this what about you what what transition to you from going to this like almost pe model versus just one brand model yeah and definitely if i were if i give us a a name it would be like a merger of a family office in in conglomerate because family in the office in that it's literally just family money like i don't i don't have any outside investors and then conglomerate in terms of like our business model like i'm not trying to exit anything i would like to continue to come out the investments we have if a founder absolutely like needs to or wants to or you know know gets divorced and asked including the asset then like we will go down that that that route but long term we're long term holders but in terms of the inspiration it was actually because gym launch has there's only fifty thousand micro ships like in the us at least and we had already got on the phone with twenty thousand of so like if you're a microchip owner no we are probably and i realized i went to this this little meetup up of entrepreneurs and it was like six or seven people and the whole room was doing in aggregate like five hundred million a year in revenue and i was you know i i think i were doing like mid thirties at the time and i was like i i was really excited to because i like do these you guys have that i don't have like i wanted to you know like what am what am i missing right and we had been there for like three years we've been in mid thirties for three years and i felt like i was like something was wrong and the big takeaway i had was not that they better systems they're better marketing or better sales or better product they just were going after you don't worry like every single one of them two man had a market it was ten to a hundred times a size and so i said that whatever i wanted to do next was gonna be was gonna go after a much bigger part and there are significantly more businesses than james and so that was kind of the big thing i like okay well it's something that can compound forever and that has d huge him and so we kinda like walked backwards from there and then in terms of like the the doing this model like we believe that people like build the people and the people build the business and so like lay you know when we're it was like eighteen months of idea aviation i know we're we're going full circle but like how did we start the next day well these were the things that we're thinking through and i said late life i were to die tomorrow what what business would you start she was like i try to recruiting from and i was like i don't wanna start recruiting firm i was like i wanted like is there a way that we could combine what you like and what i like into something cool and so for us like the most hands on valuable thing that you can do for business is find a players because because if you find a players you put them in the business and then they grow the business and then that value stays inside the enterprise enterprise of the business not hold c like not the goose but the egg right and so for us we just will treat crazy talent because we like our competitive motives that we have more influence they need they do and so we have a whole culture community of mo talent where our head of people like continues to bring like we have tons of people every single day that are applying for portfolio positions and then we can screen them vet them and then because we know the company and because we're long term incentivized we don't just wanna like put a body in a seat we wanna find the killer that we know that if we that we we won't we wanna fill the role once right i wanna fill it with somebody who matches the culture and matches the skill set of the business at this level so a lot of times like first time entrepreneurs they're at whatever a million the months and they're like okay do i hire a bookkeeper do i hire a staff account do hire control do i hire a cfo i hire director finance like where like who am i hiring right now and what does that person look like and so like we've done this enough time times to be like okay at this level you probably need a controller who has experience going from a million a month three million a months and right and like at that point they and we'll tell them upfront that we will bring a cfo a transaction experience in the future so they're not jo when that happens right same thing they're scaling out the sales team they're like okay i've got three good guys it's like cool we need twenty so like you can't just just take your best closer and make a manager because he's never done this before so we want someone who's built at least one or two sales teams specific to let's say it's inbound or might outbound it depends on like the sale process of the business and they've built this types of teams and like we'll bring that guy in we have our playbook and we say hey on our interview process we're like this is how we do things dirty line with that and if we do feel like there's alignment and they can they have the chops because we do skill tests then we can say hey i think that you'll match it and obviously the founder still has final say because they have to like the person the rises gonna work but we do a lot of that heavy lifting because you know we might take a hundred interviews at hold code to find one one guy for one specific role for one company and that's where that labor cost comes in for us but when was she put like the reason we took majority and a take majority bought majority of the of that business was we had built the entire executive team we've built the entire executive team and we're like okay cool and the fat was like you know what kinda don't wanna do other things for the business like i know it's been good hands i trust you guys and so it was like a very friendly deal and now he just gets checks every month and like likes i this life lot and we just continue to run the business which were cool there's this really cool video where you're with grant card and i think you're like in the process or pre process for selling gym launch and you're were like and he said something like rich people sell their companies wealthy people never sell and cool is that i've sold the company before sean has sold some companies before you've sold the company what's so funny is a lot of first time founders and second third and a of people their whole business is selling but after they sell they go through this period and they're like shit i shouldn't sell ever again actually and you said you sold the business forty seven million you said you had taken forty million in distributions so it might had him i'm like that's a pretty shit sale then do you wish that you would have just held onto it and and and never sold that that company no because the person i was then wouldn't be able to do what i can do could i do that could i sit today would i hold on to it yes but i don't think i could have done it then and so a lot of the re like transparent if by hit i got more credibility from selling jim welch watch at forty six and it was valued at one and fifty before covid so to your point it well as a shit sale but i was done i was emotionally done with the business i just didn't wanna do it anymore i still own a third of the business so like when they crushed the exit the next exit at two hundred and fifty billion i'll they'll get my hundred million dollar check from that but i was i was moshe i didn't move on and my big thing is like all my friends all like place we were like dude do you sound depressed as far like you're not interested and i was dude i wanna do this new they're like dude do you light up when and he's talk with this new thing and so i actually walked away from the deal during the deal process and then came back and so like yeah it was not like it's funny because people give me a lot of i'm glad you brought up a lot of people give me praise for that but they don't context like get what like you know we done we have thirty million in eb bet the two the twenty four months prior to do the deal so like you know it's telling a forty six point two is not like like i i told them i needed to be public about the number because i do know that the vast majority of people don't get it and the that's that is enough to give me credibility for fucking tiktok but it's not like the transaction itself isn't didn't necessarily when i'm like proud of i'm proud of what we built and that the continue the company's were forty percent since we sold it it's said they're gonna kill on that deal now that i also understand how debt works which i didn't understand that like again this is like knowing risk experiencing like i understood that they were gonna a debt when i realized that eighty or ninety percent of the money that they put in they then just immediately old right back out leveraging the company's books i was like well shit i could have kept the whole fuck thing and gotten ninety percent of the money not personally guaranteed and der risk myself but would that created the same story of something that is sell from a person brian perspective and i think the answer is no and so i don't regret the sale i think the sale was required for that step in my journey i think that now because we have the credit but like no one cared that i taken forty million in distributions no one gave a shit it it didn't matter like the day i sold my neighbors were like oh i saw you on forbes like congratulations i was like i was richer before i did the transaction i was wealthier there before that point but like it allowed us to do acquisition because i don't think i could have my my brand was still so i was still the ceo as far as people were concerned of that company and i needed to have that space so that i could create acquisition here sean would you have done what do you think would you have done that i i think he explained it beautifully i think explained it exactly beautifully and honestly which was that two two things you just said that i resonate deeply with me one this the last thing you just said which is to have what you want sometimes you just need to make space and so this is like oh i learned this through relationships you're dating somebody you kind of they're not exactly what you want they're not bad there's nothing wrong there's nothing terrible about it so most people just stick with it for years and years and years and then they're kind of like well if there was like a much better option than yeah like i would feel more comfortable just like going some being single but i've always been very quick to just if i know this isn't it i'll break up i don't need to have another great option ready or or or like shown to me to make it real i know that if i make space then great things can appear and sometimes you just gotta do that like i've take it like when we sold be it was the same thing i had i've been doing this thing for six or seven years and the business was doing okay at that point and i thought like you know but in my heart of hearts i knew this is never gonna be masked and we had all gone into that business with basically like y let's do something massive so by other people's standards it might have been a good business by our our own mission it was gonna be a failure i knew that and so it was when i was out with and he was like i don't get what you're doing you and he's like you just need to shake things up and you know i was shook i couldn't sleep i was like he's right like i've been doing this for too long i knew to shake things up and so i went into our our investor the next day and i just said friend i think it's time we change things up i said i need to change things up i said you you know if you wanna keep going i will help you hire a ceo and you can take have somebody else take this over i'll give you back my shares i don't need a thing from this like i i i will do whatever i can or give me thirty days i'm gonna see if i can sell or i'm out like those are the this is either way in thirty days this is gonna change for me i've i've just decided to make space basically took for something he's like well what do wanna do next and i was like i have no idea like he's like well no really like you know usually people when they're you know they they come to me it's because they already kinda lined up something else i was like no honestly i have no idea i just know that i need to make some space and so that part resonates with me and also the idea of like you like when i look back now and i'm like oh like before i sold our company if i didn't if my company wasn't gonna be the next big thing would just shut it down literally just turn it off take a zero on it and then i just started looking around and i learned this word aqua hire in silicon alex was like oh people just sell failing companies and then i learned like you know they asset sales like oh you could just sell the code and the assets like wait peter who are these buyers and i didn't even really understand what my options were and so when you talk about basically i could have refinance i could've just refinance based on the business assets to took ninety percent of the value that i felt that same like stupidity later but like that's light life is basically looking back and being like i was such an idiot and that's how i mark years of time not by like the calendar days but by a number of times i looked back and say god i was so dumb didn't even understand this i was sitting on somebody i didn't really under i didn't really know what i no now knowing what i know now i know exactly what i should have done and at that time i didn't even wasn't even aware that i was making a mistake well the difference is like i think that we are us three actually have been we're we are so like i understand how to grow shit and i understand like you build this page you do this thing you write these words here's the customer talk to him whatever i think the the with a gap you have to bridge is becoming a from tactics to strategy so and i used to like make fun of all my buddies who are in finance i'm like dude you're just like an excel monkey you don't know anything like you just this stupid fucking headphone and maybe make money but you don't know shit and then i realized like when they talk about a debt and stuff i was like i'm not gonna pay attention any of that because i think that's stupid and then i realized how it starts working and i'm like oh my god that's not the strategy so it's like that's the strategy and that and i was like oh i used like i'm i've got good vision i understand how this shit works and then i realized how money worked a live more with debt and borrowing other people's wanting to do this and like taking money off the table and all of these like terms that i kind of heard about but i didn't exactly understand i realized shit if i'm gonna be like really good at my job i i gotta be good i gotta understand the tactics you really also have to understand the strategy which alex it seems like you're actually now now you get the strategy of how money and business works not just the tactics which the whole hundred million dollar offer book which i bet i think it's awesome that's mostly tactical but the strategic shit is what you're saying of like oh you can borrow other people's money and to do this that that's some big picture shit yeah without of personal guarantee so because i'll be like why about bit dead on the business because i don't wanna risk that i was like you are not risking it like the the business is risking in it and if you're willing to do a sale for x it's like what are you willing to do like because the business is gonna take the risk on either way i mean depending on the acquire but if you're selling a private equity like i know you have a lot a bigger tech audience but i probably have a bigger like like certain like i would say everyday business audience you know guys who have massive roofing businesses or you know a huge chain of you know teeth whitening studios you mean like just just those types of businesses are the ones that tend to to follow more of my stuff and like that's usually gonna be a roll up or a private equity acquire for the most part maybe be a strategic if you like have another big teeth whitening machine that wants body but like that's about it and i i think i i resonate with where you said say i was thought this i like i you even understand business and i to agree i actually don't think that i understand business but they understand the macro level business and i think where you can get really dangerous when you know both they both gangs like give you because what they do they you own almost surely inorganic growth they try and stable shit together that okay we bought four companies that do you know three million in eb and so now we have probably in eb we're gonna have some equity arbitrage and we're gonna be able to sell this thing engineering yeah saddle them up with debt and then it's there's just a math equation like it doesn't even matter about growing businesses but it's like what if do that and you could also triple all the businesses and then like that's when you create these like breathtaking home runs it and that's kind of what i mean what we're trying to do with acquisition and i don't i don't have i don't have a i don't have a a huge need for more money unless it's a an enormous like there's nothing i can do i'm i'm have you heard i've ever heard felix dennis is like how to be rich i think that's the name of the book we love like i talking about that table a lot like the comfortably poor you know i comfortably rich then you get to like rich rich is super resonated with me it's like i'm the i'm the the comfortably rich but like not the super rich not thought like so i like everybody here we can all consume whatever we want so we can find whatever planes we like you know you fly private you can say the nice hotels get the nice got to dinner everything one of the week at the five star restaurant at the michelin star and you can do that for the rest of your life like you your personal needs as a human being are satisfied but i can't buy that skyscraper right there and i can't buy that this huge company and so it happens just like the things that you wanna buy change and so you create a new deficit for the amount of wealth that you want again this is just assuming you like the game and so like i like the game so just keep playing it the the funny thing is that what you actually like is just playing the game and if you just said well i'm rich enough then you'd have to stop playing the game you really love and so instead you start to come up with like things you want that in actuality sound a little bit silly it's like i i don't even think you want that skyscraper or to buy that you i i don't even think that's actually what motivates you it's just that i i'm actually pete loving the game right now and the game only works if you care about the score and so you know it it is impossible to put to enjoy that you can't play the game if you've said i've already scored the maximum number of points then the game becomes kinda silly and so it's funny like this is with all of our friends it's like why are you doing this don't you you kinda got enough money man and it's like yeah but i don't have enough enjoyment the enjoyment that game is infinite and the thing i enjoy the most is playing this game and you know i'm so i'm gonna continue playing but in order to do so i have to like construct these silly like dreams that that i'm not even sure i really care as much about as far as just playing the game dude that was you huge and as a side note it's like if you think it there's there's kinda like i feel like two ways you can create a deficit right so one is like you create a financial deficit by saying like i want this thing it's cost a billion dollars and so i need to go and make a billion dollars there's my deficit where i where i wanna go the other side is what i say like when you ask what are you like excited about because i just said like what are the works parts but like i'll tell you what's what's good right now is that we have finally separated mo media which is basically like my my personal brand and like the the content we put out i would say the books kinda fall that like the courses the books all the materials will get out to to mo media and so what we originally were saying when we start acquisition about com is that the mission was to make real business knowledge accessible everyone like that was the that was the mission of the company and that is still very much the mission of mo media what we realized is that hold coast team so like rx consultants are our people who who recruit curtail our heads of sales who build out sales teams our has marketing built up marketing power of and marketing functions our head of customer success who build out product in the client experience etcetera like those people didn't really resonate with making business education excess everyone like that wasn't actually like what their mission was and so we got really clear on what the mission of acquisition dot com which is and this kind of came organically so it's like really exciting for me but one of the things i've always en about elon is that like every company he gets involved in basically saves the world or like what like he finds a way to tie the mission of what he's doing to saving in the world like even twitter he was like free civilization meets free speech and it's like boom i was like man how did he take a meme platform with with tweets arrogant dudes you know what being turn it into a you know free speech situation like that's where i think a lot of his geniuses and so for us i was like what's that say and so we have the external gap of like yeah i wanna hit the billion or whatever but i think the internal one is that we wanna build a company off the praise and not punishment and so we have this huge thing how we try to build things it's like you can punish people where you can praise them and we believe that you get more performance out of praise now you look at goldman actually jpmorgan you're look at mackenzie you look at band you look at these massive companies even some of these like huge ones and it's a lot of people were like vance to talk toxic work environments is really hard at bubble bath and so those are usually punishment driven cultures and so we want to and so it's what's happened is like by doing that that has aligned all of our hold c team in terms of how we wanna build these companies and the billion dollar alex clark is basically irrelevant because like to really win by their standards we need to build something that's ten or fifty or a hundred billion you know what i mean and that might take the rest of my left time it it'll probably happen after i die but if we can do that then we can prove one thesis which is like people wanna work and most environments are set up to punish people and all you do is you raise the bar of what it takes to not get punished but what happens is people churn out of work they burn out they hate their jobs they hate their lives and i think that there's a better way and leila and i are gonna try and dedicate the rest of our lives to try to prove that and so that is the mission of acquisition dot com and what we do with the companies and we can show that that is not just like flu stuff and i think if it were just leila it'd be a woman driven thing people be like oh it's a girl who's saying you should be nice to people but i think i given how i look how i talk i can probably deliver that message and it may take the rest of my life to do it but like i haven't felt like fucking amped about anything in a long time the last time i was this pumped was when the mission of jim launch was to take the gym ministry from his knees to his feet because the average takes home thirty six thousand dollars a year in personal income and has like maxed our credit cards and has like eighteen days of cash on hand and i was like i wanna fix this and what ended up happening is like i because i wasn't emotionally mature enough i took enough lick from people really close to me both clients and employees that i just like i just needed to put distance like i had seventeen different people work for me try to start their version of my business you know what i mean i had clients trying you know like start there like because it was a it was a business based consulting right it a consulting business so like once you had kind of the models you could in theory trying to be with us now no one has succeeded but it was enough that i was like dude you were bankrupt and like and like on the brink of divorce and you used all the stuff and then like you scaled to three locations and sold them and now your families financially set off and like now you wanna attack me like hap about down times to your feet and then you kick me this is how i get repaid for this that's how it fell that's how it fell and so i wasn't i like i think now i could handle a little lot better but at the time i just like i felt so dis i just felt per honestly because i really poured my soul into trying to fix the industry and so when i felt that way we created space and then it just became an asset we owned and that's why i was open to selling it but like i haven't felt like that until now and maybe it took two or three years for us to for me to refine what that big mission was but that's something i can get behind like that's something i'm fucking up for it's so funny you mentioned that elon big mission thing like this guy he did it with twitter too which was really funny and then while he was doing that deal these came out i was like oh elon musk in imp like this woman who worked for him and he's like and he was like he's like older population under population like we we were we were at risk of population collapse it's actually the biggest risk of all and busy he's like i'm just doing my part i was like this guy yeah bell and like how did he get away with it he spun that shit like like he did his all like five forty on that thing fitting that to be like actually actually i was also saving the planet with that one didn't and i was like i was like you're welcome man you're were welcome and like that's that think they call it where it's like just like the male male bullshit like the abilities for some some men to just absolutely bullshit their way out of everything and elon got that like he is the world he is the world leader in that think there's estimate though like in terms of like because even thinking if i wanted to create a stronger narrative because like i'm already amped about this narrative but like i would just look up stats on worker on involvement and talk about how like it's the end of of work and until until unless something changes and so it's like we're saving work yeah it it's all what story you're telling yourself because then you'll tell that story to others and if that story serves you then then great i mean i think i personally i think this is the silicon valley like what like ptsd or whatever where it's like anytime i hear a mission statement i'm like just shut the fuck up like tell the truth you wanna make money great you want your own life value to increase and you realized that in order for you to get that value you had to create more value in the world and so you identified some people that needed something you provided that it value in spade whether that was dentists need better software yeah whether that's you know the world needs a social network or we wanna send disappearing photos back and forth to each other's phones like you know yeah you hear evan speak like you go look at the original landing page it's of snapchat or the emails that he sent to the and f where he's just like the landing page is like two chicks and a white bikini like kinda like oh do it like taking like a naughty selfie basic and then the there's a giant timer where like the the the the photo is gonna disappear and same thing when he's emailing the the f authorities told me he's not saying i'm trying to you know reinvent the way that humans communicate actually you know seventy five percent of our brains is wired for images not text and so i wanted to make a messaging app that was image based and that you know and and then you hear him do the the pitch and he's like you know for too long images have only been used for memories but i wanted to use images for communication the way we originally did with her and shit it's like bro it's okay that you thought this app was fun and cool and like that it might be a hit and it took off in like you know these like schools and because people wanted to get around you know their teachers or parents being able to see photos on their emerald like that's okay and but they always do this it always tie back to something the word it's mission now it's the d word it's democrat oh you like wanna advertise access to private limo really once we're like and then of course what does it become right as the marketing teams get in there and the consultants get in there they're like we're where our mission at uber is to make transportation as readily available as running water that's because that became their mission statement it sounds was fucking yeah but it amazing but wasn't be by showing up in a black limo yeah you didn't start in literally the early stories of anybody who knew travis and garrett uber was like they would like do check this out push a button while they're at the at their like michelin star dinner and be like watch this car shows up and they're like yeah that's right baller right i could see where he's at on the map like this is amazing this is my private driver you know i summon him through my app and it's like there's the there's always to me like the disconnect between what i think the truth is which is a little bit skeptical and jade and then like the revision is history story that like sounds really admirable and noble and like i personally have just come down and i've landed on like i'm okay with the truth i get the human nature we're kind of just primal animals and it's okay you seek pleasure you avoid pain you like status and you yeah you status like but alex's alex is like mitch so like you know alex maybe it started as like the mission of our company is to get your money and to put it in our bank accounts you know what mean like that like like we're changing our bank account one dollar at a time and we're starting with four dollar by taking get our dollar like it's like it's like what yeah have you here with on south park where cart has crack baby basketball league and he's like no someone's like like we need to we need to pay our babies our athletes more money goes look ma'am i don't make up the rules i just linked him up and write them down like what nothing to do i because inevitably i imagine it started with but i just wanna get rich and do dope shit to and then it changed to you know that's pretty grand thing of changing work through instead of using praise and what when did that change i think it's a yes and so sean i'm like a like the bullshit o etcetera like i i i fool hearted hear you on that and i think that one is that the truth can change and what i mean by that is because it's not like we're not talking about a fact we're talking about truths of of why someone does something and so like why someone does something can change like when i started gym launch i i've said this is when i was like the mission of jim launches just not be broke like that was the mission of gym launch but what happened is after i saw the lives that got transformed from it and i was no longer broke the mission had to change because i had accomplished that mission so the mission had to get bigger in order to continue to expand that because had families relied on me employees etcetera our customers and so it did truly become to take its niece needs from east to the gym industry from east feed right and so like acquisition dot com started with the thing that i was passionate about because the only thing i was passionate about was just spreading like good business like i love talk about business it's like my favorite thing in the whole world i don't think picture about business i books about business course about business make content about like and then i do business in the meantime like i fucking love business and so that was the only thing that i felt passionate about so that's what i made the mission about but as we've walked the past realizing that like the reason the businesses have done really well for us is because of the cultures that we create and we believe that the those cultures create better businesses and honestly also better working environment it like generate really good bottom line but also really great experiences for the people who who work there and so like i haven't been amped about it and so like the truth of why i wanna go there now and now i see that a much bigger picture that i did when we started it two or three years ago i think that i think your reasons evolved and so i think that it it makes sense that i think it's both honestly like average big personal goals he was like he had transferred money from that person's account to his to the degree that he could buy whatever you want it and so i think you just think more about it and you're like why do i wanna do this because you have to have reason otherwise you just you you go to a ball of nothing and so yeah well look i in the back i think the best way to actually learn that and we were talking about the last episode we talked about what's the restaurant panda express guy yeah and then and we were like you know he he he just sells like orange chicken like that's not exactly inspiring but like he he he employs like twenty thousand people and he like gives these guys i think he we were talking about i have my notes here he gives them all like he pays a little bit for them we go to tony robbins he gives them like the thinking and grow rich books and like all these books and he's like yeah like the whole chicken shit like that's kinda cool and all but like i'm actually like taking an hourly way worker and we're trying to like elevate them and so i'm like oh i can get behind that i'm i'm in on that and if you look at like a lot non tech or non silicon dollar companies employ like thirty thousand people and they're like yeah you know we sell tires and that's cool but i'm really just trying to like we we create jobs and that's very fascinating and that's really exciting and that's cool it's better for the economy or like you know some of these like really boring brick and boring brick and mortar businesses i think that's actually where you see a lot of really cool missions or like if you ever read the have you ever read about the koch brothers they goes mean coke like coke industries yeah yeah yeah coke so basically it started with the dad he was like an oil guy and then they use the byproduct of creating oil to create all types of plastics and whatever and so now it's arguably it goes back and forth of the biggest privately owned c america and he was like no like my whole thing is like freedom for people you know and i wanna like teach them that they have autonomy and like through working here he's got a whole book on his management systems and he's like more so what i'm inspired about is like is like giving empowering people and so anyway when i read about those like older companies i actually think that that's a bit more inspiring than like some do saying that he's changing in the world one like computer leadership at time when it's like i don't know like that's not exactly inspiring you know and it maybe it hasn't played out yeah yeah yeah yeah and like if bill gates said he like when he started was like i wanna have a computer and everyone's like okay and then he did it yeah and so i think i think part of it is also like what snapshot on the timeline are we looking at but do i a hundred percent agree he said like i love like you it has because basically it shifts from internal to external like in the beginning you do it for you obviously you do it because you get you get praise instead of punished like you have good more good shit than batches you keep doing it but once the thing that was good no longer like the diminishing return of the pleasure of more money isn't there anymore then you have to find a new you find a new goal like you said and then and if it also coincides with other people being motivated by not making alex rich but by proving a point that we can create companies that rewards that punish and actually a better returns like i'm juice and like we haven't approved yet that's fine be improved yet we will i wanna ask you two two questions the first is around people you admire we talked about the panda express on our on just our own last episode because we were featuring it was like crazy rich asians basically was the fact of the episode and then it turns out he lives there or whatever like you know you're both in vegas who are some people that you admire so i always find this interesting to hear who kind of like stands out and why for for for different folks so who are some people that you admire either past present you know people that you've met because i know that this kinda like getting famous on youtube thing opens up a bunch of doors you meet a bunch cool people that like you otherwise you expand your circle of people you you you get to know through this stuff so who are some people you admire well i definitely admire andrew pay churn from panda express because they're were married couple that built this whole thing and they didn't they never took that money and they've owned the whole thing privately they twenty thousand six hundred locations they did three point seven billion a year with twenty seven percent net margins and they take nine hundred and thirty five million dollars a year in personal income and i think that's only possible because they have created a new vision for what they wanted the company be about which is about their employees i am inspired by warren buffett it you what i mean i mean i i i am because of the long term mentality has and he built berkshire hathaway and in some ways i feel like he he built it he's like a beautiful life story of like just believing in the power of compounding and patience and like that's what i feel like his virtue are that he's demonstrated and rational is making i would say that for us it's like if we can build something like that but just with our own our own spin own asked which is around praise up punishment building companies that like we can win by their score but we do it our way so that's the that the war angle and i mean i'd admire you elon a lot a hunt you know just like what we're talking about earlier like his ability to see vision and connect to a larger mission he's seem he's been able to massively do that every single company has been a part of and his track records incredibly fucking impressive and he just continues like defy the laws of like what seems to be like normal possible over and over and over again and so i think just like we just like stares into the abyss like let's do it i think that's something that i really really admire yeah obviously has flaws like all of us do but i think he also it's been really good about like owning his flaws and being public about that he's just a human and i think he may create a new model for how big public ceos rather than maybe that you know maybe we're in the beginning of of that world and i think on the totally other side of the coin i think i admire what like mister b has done from a personal branding perspective i've been able to to get to know really well and and jim's jim thinks really big and has a tremendous work ethic and i think seeing the merger like seeing where all these things are like elon has been able to build a personal brand and you know in a lot of ways like if you're a fan of elon you wanna buy all of the things but you just happens to have enormous monetization vehicles and to your point sam about like how they use like yes sure we make tires yes sure we sell orange chicken like guess in a lot of i like all the companies that we have in acquisition dot com is a gift of course we transact build businesses but like the reason we do it is this and i think that's really dope and so that's that's like those are probably the like if you were to if you're to mix like what are the things that i'm drawing inspiration from at current it's a and if you look at what we're doing it probably would make sense to see all three of those three biggest kind of influencers you got like mister beast on person brands side here you've got warren buffett on the investment side than elon from like the big vision and i feel like those three things are probably where i draw all the most inspiration from in terms of like our day to day and what we're trying to do what's interesting about you is that you're pretty good at you're very catchy so like paul lee's to feet thing is is pretty awesome and then what was the line for your current company it was reward versus punish yep thanks you're pretty we wanna beat them we don't beat about their game and we wanna do it our way well you said we wanna beat them on we wanna use their score board but do it roi so you've got you're quite lyric you've also done a few there's like actually a handful of things that you've talked about very like casually that i've caught on too that i really like so for example you say you say dessert what do you say dessert every day or good dessert never skip dessert and then you also because your whole like dieting thing is you eat all of your protein earlier on and then you're like alright now i have i fat and carbs like we can go on those and like you've done like a few things outside of business i find like almost more impressive or i actually use on my daily life more so than your business up which i actually found is pretty funny you also have i don't know if you've seen this shop but if you google like there's this like twenty three year old alex who does a thing raise like i'm gonna do a bulk over the next like eight weeks and he has like before during and after photos and like that stuff i look at significantly more than a lot of your business stuff i find out some of your fitness and diet stuff like more interest being applicable in my day to day life and the business stuff i'm job that like this a living for like i like i i joked about it in the comments with i was like people like admire our like who my way of thinking about things in business and i was like for decade i did that with fitness i just don't talk about it because everyone feels entitled to a opinion because they have a buy and i think and i hate i hate getting into the they're like what about salt i might just fuck off like just like you know mean like i i i've so little patience for i'm like look at you and like if you were more in shape and by the way no one has been more in shape than me has ever criticized any of the concert area it's just like people who are wealthier than you never negotiation about business it's like you like no one ahead of you ever shits on well the cool thing about it is like i i use the fitness analogy ton in business because i'm like well it's hard but it's simple in that if you lift this much weight and eat like this for a year you're not necessarily gonna look like arnold older or be lean or whatever but you're gonna be pretty good or better than where you are now and you just gotta do it for like two years and you gotta like be fairly strict about it so like that's why the carry over it is quite fun watching you do both of those things yeah i appreciate it yeah i mean simple not easy i feel like it's the is a fucking theme of of so many things like fitness nutrition marriage business like simple to do are simple simple to understand conceptually very hard to do what's the simple not easy for marriage is mean i think it's it's it's reward more than you punish i mean it it actually comes down to that so like okay if i want my wife to scratch my back more i have to wait until she scratches my back of her own ambition and then i have to reward it immediately and then she will want reward more and so she will do it again very pa of you well yeah i mean i think we're all though you know what i i fundamentally there's three things you can do when anyone does anything around you is that you can punish them for doing it you can ignore that they did it or you can phrase them for doing it have heard the tony robbins like i forgot what he calls it but it's like the four the four styles of being in a relationship he says something like that i have you heard this thing it's like the first one let me see if i remember it off up man so basically he goes you know for first one's like a baby it's like i need love and i don't have to give anything to you so it's just like i cry you give and that's it like you better be happy with that arrangement so that's like one relationship you can have a one style relationship but you can have obviously like doesn't work out very well once you're an adult you can't just cry expect to be given everything you want and then they not have to do anything in return right because baby love so that's the baby love then he has the next one which is basically tit for tat so it's and this where almost everybody falls into so this is probably gonna sound familiar to least to like to an extent and is probably the root of all problems in relationships is tit for tat which is you measure what you get and then you give based on that when you're when you're given a lot you give a lot but then as soon as somebody breaks the cycle and they short you consciously or or unconsciously they they they don't do what you what you wanted you also withdraw or pull back some amount of giving and then they reciprocate give they they also measure and pull back and both sides do that and you end up with a sort of a a race to the bottom and so that's tit for tat and that's where most people stand and they there's just a cycle that resets over and over again the next one is unconditional love which is basically i give regardless of what you give back i give because that's who i am i give because that's how i how that's how i wanna roll in my relationship and i control what i control and obviously that's way better and like to me that's the simple not easy in of of being a relationship is just go go unconditional mode rather than tit tat and then he has like some higher one which is monk month love or something like that he calls it where it's their spiritual love it's like i love you even though you hate me like a monk can be like i i i pray for and love even my enemies and those was trying to hurt me and he's like nobody gets there but like that aspirational what you could what you could get to as well it is like you know the love like a monk who who loves even their enemies yeah in does you try to cross harm and so those that those are the the four levels of love i remembered alex do you ever so like i saw this video view the other day and now everyone like giving you a hard time or they're just teasing you in a good way about like your outfit because you wear the same clothing all the time so you made a funny video about it and you go instead of just saying oh comfortable you go dude i'm just lord da did them these shorts you wanna go work workout i can go work out you wanna go to all yeah that's that's what he said he goes you wanna go slim in these are waterproof you wanna go show restaurant he's like just good enough that i can go and do that i can do anyway i can do anything i'm bar winning in you're not i win you'll lose i bought the shoes you had invention because you you were like these sandals these are the perfect sandal for working out running into you know like walk you through rain climbing a hill or they like being at the office and in the comments i was like yeah what's the sandal what said where's the affiliate link we can't find it and then some dude like fifty comments down was like dude that's what the it's this brand the the the night shade color of this alright respect to this guy for finding again i'm gonna go buy this thing dude but dude do you ever like does your mom and dad or like hey quit such a which just where will we bought you because that'd be nice like at what point do you like are you like this makes sense for me like and also like it's bit the brand versus like live a little and like let's just fuck around do you know what i mean yeah good like the good for the brand is is actually not like really a thought when it comes to it like i believe they like brand comes as a result rather than like conscious you know what i like like people were like so when you think of never skip dessert i was like i was making fun of fitness people because my original audience was fitness people who obsessed about like not eating cookies and i was like okay yeah i be like eat dessert you know what i mean but do it in a way that can sell sit back all the time so that was why i never skips was always like never to skipped leg day never skip monday i was like our like the cab thing is because like i genuinely have started training i started i started every training session since since a girl told me that she thought that my calves weren't big it's feeling like twelve years fourteen years that i've i start every session with caps and so like my calves have grown a lot and so everyone like oh jeanette like mike has were sticks and i'd train the shit so like is it part of my brand yeah because it's in some ways like he's lindsay yeah yeah thank lindsay fourteen years of fuel you gave me and and it's the the outfit thing is actually because mike it's my content team that wanted to make content about it because they're like dude you're fucking man with this like i feel like people should know this because everyone who knows you like in person knows that like like when they walked in for like almost a year and a half there was stacks of shoe boxes and i would wear different shoes for a day an hour a day a week and they kinda graduated to like if they're good enough i can walk around the apartment then i'll walk around through their day if i can walk around with them for a week and i still like them and most of them never got there so i have a few finalist that got to that point but like i think i just say ob obsessed about making things better same things like if i do end up doing you know if there's is a good enough company that does no strips like i'm gonna iterate the product a bunch of times until i think it's absolutely untouchable and then i'll say this is the one use and i can say that i say that with confidence because i i did the the work on it for me i hate i just hate having to change like i don't know what it is it's like it means that i started my day like not thinking about what i was gonna do i was like okay well if i can create a a setup or a uniform for myself that i can be in the most environment so for me i'm really never in less than forty degree weather like ever because i usually tend to be in warm response to the country in general and so like this this outfit goes forty to a hundred and twenty degrees and so and i can go to the gym i can go to the pool i can walk for hours i can walk all day i can go to a nice restaurant i can do all these things so because if they need to do it but that's crazy because you're wife true c g dress is lovely she like it's fashionable or her hair always looks nice you know what i mean like i said it goes forty to a hundred twenty like a like a cargo goes zero to sixty and i mean time this flannel if it's jaguar honestly this thing goes forty to one twenty once once it's once it's below forty i get cold so i have to put prepare but like until then i'm pretty much good within that range forty and so like i can i can button think like this thing can go full full sleeves and like like that's when i'm in like mask cold mode or if i go to restaurant there fires snooze i can have that right but otherwise you know like i'm in beat them mode like we go the gym you know what i mean we're to the pool we go to beach we go wherever i'm gonna be in beat mode you what i mean i try to drive it's mode like put but like a car yeah my whole outfit has sports mode people were are like pro for like my whole outfit has worse mode and comfort mode and weather mode and i can i can do that and so anyway i mean like i i enjoy i enjoyed finding each of these things almost as much as i enjoy wear them and i and i every morning and this is like every morning when i put this on i get like a little a little booster where i'm like i know that i've picked every single one of these pieces out i have no doubt that this is the best thing for me like for my day and so like i know that the brand of white beaver that i have on right now i tried forty or fifty other brands on and i want i did this one sat where i wanted to sit it wasn't too thick on the shoulder a too thin it didn't drop into some string on the back some people like that i didn't want that like beater themselves are thinner than tank tops their ribs so that they fit right i think even like if you've ever seen this under armour or tank tops or there's like shrink back ones like they don't look good i think they looked in that and for me i think they look like kinda sent synthetic guy like i don't like it i like cotton better and so like there's just a number of iterations like if i talked about the shoe i could tell you a zillion things that i looked at like i mean i just i i have like an excel sheet they're like i thought you would have i have a few friends like that i'm not as extreme but i like buying and testing like a ton step out i think funded sean wears ordered like twenty of the same shirts what products this is actually interesting this is i don't think this is like to inside baseball but what products and brands do ob obsessed with and love like in your daily life well i'm i won't say them because i'm in talks with like castle correct oh to try figure something out but i i i will i will caveat that with i think that in general for people like my life might be different than theirs and i think just being delivered like some people will just like sleep walking through life that like they're always sitting there with their pants that just don't fit just right or always don't have this thing like a lot of stuff i modify so like i like my gym bag like there's a video about my gym bag like i tried out a bunch of different bags and i finally found a bag that i liked and then i modify the shit out of it and like that bag now every time i go to gym were like two that bags is awesome i was like i know because i made it for this function and it's great and i'd i love it it's really good you know speak so i think it's more just like fighting the like whatever you're for you to one twenty is because maybe you live in michigan and it's always it's like well we you have a different standard what standard wear what shorts are are they i thought you used to wear just shorts i used to make fun of you if aware i used to wear george but george the so i i'll tell you i used to wear george because they were more comfortable and i could do more casual settings with them right they're like always showing up in like athletic shorts yeah mean just like it just it looks it looked like almost too casual i think it's a lot of restaurants are like no athletic wear and so i was like okay well that's annoying and so then it went through this whole thing where i had to find like the best short and then while i was doing that like the ones that i have had back hooks on them so that if i can hang them too dry i've got an iphone pocket in there that's built in so like because i hate having to sit then you take it out of your pocket yeah like every time like could such a pain like well there should be a pocket for this everyone has one right and there's like a a little place that i can like an ipad ipad pencil in my shorts because i i use my ipad lot like i've got cargo on the other side and these are stretchy but not too stretchy but they're stretching up like why do you what live freight you haul in there buddy what do you got what type of do you need the car just mike gummy bears no lot of times is mike packs so a lot of times as mike packs because we're getting like right now my mic packs in my cargo pocket but like i could put a water bottle in here if i need it uber or hotel key like hotel keys is there whenever we're traveling or i use my nico is actually nico i'll have nikola out of in my pocket if i go to podcast so i just i'd like always have the stuff that i i need there you know well it's the best the best way possible man this is these are my favorite kinds of pods when you you find out you know it's like i wanna see your weird that's when i know you until i see you're weird i don't actually know you i feel this this is my personal my personal thing and i'm glad we went down this rabbit hole because got to see you're weird it's funny because i know right now my shaking i'm not gonna show you the brand but i've got this backpack here right in this backpack i were i can wear at like when we travel i can wear it everywhere and it has everything that i used to travel and i can travel for for four weeks ago because all i have to pack is the repairs of shorts that are identical that are multi everything and then i just have an amount of tanks that is whatever the laundry cycle of the trip is and that's it and i could put one flannel on top and i'm i'm good like i don't even have to use the expansion part of that which i have options if i need it and so like and it has a cool front thing for all my wires that's flat so it doesn't take up space like there's just a lot of like when i went through a zillion different bags to find that i went through zillion different bags to find the gym bag but like no when whenever i pick it up i'm like this is the best bag of the job you feel it seem like a clutter free guy like you have a cleaner who comes to your home right very very often and someone who does laundry and also do you own do not own a lot of stuff i don't leila does right and so like like i i that backpack and like take tops like i can fit my entire wardrobe of my bedside table and so super easy and like when i was trying stuff on you know one of our sis will come and they'll return you know anything that that i i don't use or whatever but like i think we're i think the the underlying point here there's like leila doesn't do that at all like because that's like that's not real like she doesn't like that at all like she broke really poor always wanted to have nice nice clothes and now that she can she loves wearing nice clothes and she feels good wearing nice clothes and she gets hit up by the designer to like go to the runway things because she she wore like one piece of her wardrobe is the entire cost of my wardrobe like one piece like a top what the best way you spend money for you personally like not like a business investment that you know you're you think it's a great roi or you get a bunch of joy out of it or it's like dope for you that is let's say not your content team and not like something that's directly in the business yeah i mean i would say js x is is wonderful since it's in the southwest so it's a it's like sem private flying yeah i it's pretty good oh it's great i mean it gives you so like i the only reason we fly private is because it's safe the only reason we do it like and you not a lot less hassle but js x allows you all the benefits of private flying this second fucking j plug but it's really good and it tickets like three hundred bucks when it would normally be like fifty so if you wanna fly js from vegas to saw vegas to scottsdale or vegas to to la it's three hundred bucks it's nothing right and you really you walk up to the plane you get on the plane and then you walk off the plane like that's it you know what i mean like it's it's just like private there's just a few other people there and private flying in my opinion has the most benefit for the shortest travels and the least benefit for the long travels because like long travels you wanna fly as highest as possible as fast as possible the bigger you know the bigger the plane the better and and by percentage of the trip you know the the going through security and dealing with the hassle if you have a five and a half hour flight five and a half hours versus like seven hours of of transit does it like the day's fruit like it's kinda like it doesn't materially change a lot but on a short travel where you're going like sub i would say sub two hours like you can you can double the length of the trip or triple the length of the trip by in reverse cut it in half or by a third by flying private and so that's where i feel like you get the the highest march benefit it's also the cheapest private flight to the shortest ones because it's by hour so that's kinda like when we when we when we go back and forth and usually the only time it'll fly private is if we can't get a direct js x point we we'll we'll wrap up in a second here but last time you're here sean asked a question about your portfolio and i wanna follow up on it what's your portfolio looking like in terms of like your both your private investments as well as was like be doing with your money are you keeping in equities bonds cash i think last time you were super heavy cash if i remember correctly or all treasury yeah that's what it was was treasuries you're like i'm almost entirely treasuries what's it what's it looking right now in terms of like a if you could do like a pie chart and percentages probably still half treasuries except now they're are a lot of better than before yeah so probably half treasuries probably a quarter and just like indexes and the other quarter is in private companies so pretty simple yeah probably not by value over time that that treasury part is gonna continue to decline as we do more and more deals but yeah i i still think that like i mean i don't know what the future looks like so i like i i tend to like having lots of cash like i feel good i i never wanna not be able to do a deal that's gonna ten because i don't have cash like that like the the cost of missing the ten is well worth the quote inflation that i'm suffering for the difference between the treasury yield and the inflation costs and yeah i would imagine you probably don't own a car and you you seem like you'd be wheel so whale has a has a one of those two electric come pickup trucks oh my gosh that's hilarious the other huge one yeah be asked she she like i wanted it i was like okay i actually you know my role that mine would be if they were me i would have a dodge caravan i was like all blacked out tinted windows with the tvs you what i mean in the back like sliding door as like we'll up that would be more my my my stuff and are you renting you're renting still or are you on that place no we we actually just bought we just bought a place we we were renting for a couple years and then well found one that she was like i want this so i was like alright got it so i'm actually so we're we yeah we just moved to that actually or yesterday it was the official moves ask why my background is not my office closet but we're actually retrofit a closet here it to to be my office dude i heard that derek from more plates more dates i had heard a story so he basically started the his whole video thing when he was you know no one and he just had a shitty apartment and i had heard a story that he it's back the the original video was just him on a white wall that he cut that white wall and put it into each of his now nicer homes or apartments i heard he took that wall with him everywhere so even the shade was the same i don't know that's true but i'd heard that and i thought that was pretty funny alright i i'm a big believer that like derek obviously knows what he's doing i just always just want like if i move you guys like my bathroom change and you'll know that like something has changed my life you what he's way more private than you yeah he's way more private it doesn't wanna anyone his last name etcetera diff you know different strokes i think i don't long enough time horizon and everyone will find out your last name i mean lady gaga i try to go by guy i like you can wikipedia her name so like you know you can you can find it if you get famous enough and i figured that like we will get famous enough and so it it it it hasn't been something that i've tried to detect you know a ton well thank you for coming on again you if you go to our youtube page for they're actually like the i don't know what they call that video but you're like our main page was like video for a while yeah and it's like a quote of like i've come to the conclusion that i just like to work and i don't like when people ask me why am i working all the time or something like that but thanks for doing this again and we really appreciate it no i mean thank you guys for having me on and thanks to the audience for maybe making request to have me back on and so i i i appreciate it and it it means lot to me so i thank you guys for just being awesome host in general awesome well that's the pod yeah i feel like i could rule where i know i could be what i want to from at all then it like a day's off on a goal travel never looking back