I Spent 7 Days With The Richest Men In Texas | 10 Things I Learned

Date
Duration
43 min
he's strongest us around house like that's my nap room and i was like you're a nap guy i'm a nap guy and he's like oh yeah not been i take a nap every day for here do you want him nap together yeah i feel like i could rude world i know i could be what i want to put at all in in like a days off on a roll alright you're back austin back you were there for seven days how was it it was great dude i had a one conversation i gotta ask you this i put on the spot so i was talking to i did episode with tim ferris and he said something in the middle of the interview he goes he goes i wanted ask you this what do you said what what do you think is the the brand of your podcast he goes what i mean is if you're not in the room and someone was just telling the friend about it how would they describe it ideally to you how would they describe it you actually did this before and i actually thought it was great you said hey look we're doing these meetups and if you are the type of person who goes to a restaurant and you wonder how could they make this a little bit more efficient or how much money do they make her meal or how much profit do they make how can they expand this and you also like to joke around you're perfect for m mfa and that's sort of the person who i would describe is into it i would say that we're this weird combination of making silly dump jokes and d shu interesting companies and pointing out different trends okay that's yeah like the restaurant thing where it's like if you went to a restaurant with four friends and three of them would be looking at the menu trying to figure out what to order and you'd be looking around counting the tabletop tops and trying to figure out how much money this place makes that's us we are that friend why what did you say on the air well luckily he let me off the hook because he asked it he's like i wanna ask you this and you don't have to answer but you can do this and he just kinda kept going and in my head i was like okay the master of podcasting asking me what is my podcast about and it's sort like you know if lean cap comes up to you and he asks you what your name is and you're like i have one i just don't know what it is right now you know the panic and sue i had to go out of town so it was a weird timing i was able to make it but you interviewed four or three people but you hung out with a ton of people how how was how was tim for one you you also interviewed interviewed joe lyon how were these guys so i took notes i always take notes when i go i take a little journal with me and basically i'm not taking notes on what happened i'm only taking notes on what are the new epiphany what are the new golden nuggets what's the one phrase somebody said that i'm gonna remember and i'm looking for a high rate of revelation i think that's also by the way a a good move for the podcast what is the rate of revelation permanent minute how many interesting things are are coming out to you rpm baby rpm yeah yeah exactly this is a very high rpm trip for me i wrote down a bunch of names on our dock and for each one i had one one big revelation and sai you can prompt me and go for which whichever everyone looks interesting to you not an order person so man from what i know he is a what's his book called the dan investor bay basically what i know about him is that he started maybe in the eighties investing in companies because i think he made money through his own business and then he's sort of like a indian warren buffett and he's got this huge following and he seems really fascinating type of guy yeah so exactly i wanted to talk to him because my mentors consider him a mentor right like if you like this podcast and you like you know either andrew wilkinson or sai ba like both of them look up to and learn from money when i when i going out there i texted andrew i was hey wish i ask him i was like you you know him and he's like dude he was my first value investing man crush and and like you know somebody who's whose brain you got really attracted because he has very interesting philosophies and thoughts if you google his net worth that says like you know almost two billion i don't know you know googling net worth is not not an exact science but he's up there more like a b than them and he's an interesting guy like his story is basically he's working at a company his dad is like son time to quit and he's like his dad was entrepreneurs entrepreneur he's like dad i wanna do it what you did man your your life was crazy like was ups and downs don't you remember as a kid we were being brought into the living room remit when we're twelve thirteen years old trying to figure out how to like let the business survive one more day he's like i'm traumatized with that i just wanna work here save money my four one k every year and in thirty five years i'll be set and his dad was like okay you're not wrong but you took the lot wrong lesson away from from what you learned but you you actually got a crash course in how to do business and how to not do business maybe you should just take that and actually learn from it and do it right do it better than i could do it he told me he's like you know this company used two thousand people here you're just a cog in the machine like you could die tomorrow and no one would even know and so he's like you know you're you'll never reach your potential just sitting there so he's like alright shit he's right go start a company it was it like consulting company so this is like during the dot com boom run up when the internet was really exciting computers really exciting he creates a an it consulting business and so crazy mark mark cuban also had an it services business that he's sold for six million i bet around the same time so it was enough to be comfortable but not enough to do nothing exactly exactly and so what he did was he takes that money and he starts investing his own money and he compounds his own money his own money he turns like whatever i think at first he had sold a million dollars a secondary he turns a million dollars into thirteen million dollars so he knew the indian tech scene pretty well because he had his his consulting company had you know overseas staffing he's paying attention to it so he invested in one and it was a hundred forty x and so he's like wow that's insane i should get out he pulled like a million or two million bucks from that that's how he made his first million million bucks and he just reinvest and along the way you know he's giving his friends like stock tips he's like yeah i'm buying this for this reason i'm this for this reason they're doing really well but they're like money like you know we can't just listen to your tips because you're not telling us when to sell we don't know what you're not telling us can we just give you the money and so he he takes some he takes a million bucks from his friends he's like okay i'll just if i'm investing in my shit i'll just put their money in the same thing but he's like that was the side thing he's like i had thirteen million that was one million i didn't really care about it he proceeds to basically over the last whatever twenty years thirty years whatever run that million dollars up he now has like about a just under a billion dollars of assets under management of the compounding of that plus before more assets in obviously along the way so okay that's a long story about mission but that's not what was interesting about him well it's interesting about him as i call him the relaxed billionaire because i go to this guy's house he's just chilling he's just he's in his basketball shorts no no shoes just walking around he's like alright like and we because i went the day before to hang out with him i was like we're gonna do the podcast tomorrow but i wanna get to know you a little bit let's hang let's can i swing by for you know let's just have some some some some tea so i go over have have a tea at his house he calls a chai with and he's like he's like yeah do this from time to time i just have i make i make a really good chai i'll just have it with random interesting people one out of every ten proves to be like someone really compelling i wanna hang out with more and you know nine out of ten no problem i just had some shy and he just moved austin right he's been there for a little bit yeah so he he he relocated from i think out there or something so i was like so what are you doing today because like he's hanging out with us for like an hour and i was like what's you don't there's nobody here where's your team where's is your schedule where's your assistant coming tapping it'd be like you have a call and he's like i don't have any of those things he's told me a couple interesting he goes investing is not a team sport and he goes i i have a few folks analysts type people and they'll they'll do specific things that i need them to do but they don't make decisions they don't make investment decisions i make the investment decisions he goes why he goes to be a great investor you need to make a contra and bet meaning you have to believe something's good when other big people believe that it's bad fundamentally that's how it works right if you think it's good but everybody thinks it's good you'll never make any money the price is too high if it's bad and you think it's good you'll never make them right the only way to make money is you think it's good and other people think it's bad he calls it i look for things that are hated and un loved he's like last year i made one big bet or whatever last two years like on cole cole he's like man cole nothing is more hated and un love and coal he's like before that it was this before that it was this and so he he's like i look for the hate and i love things he goes if you have a team everybody just centers around the safe picks that we can all agree on and he's like you know you'll never find the truly it's truly contra and hated and un love things if you if he invest as a team because it's not a team sport number two he goes i he's like he's strongest us around his house he's like that's my nap room and i was you're a napkin guy i'm a napkin guy and he's like oh yeah not been i take a nap every day for the last thirty years do you want nap together yeah he's like he's like every thirty years he's for thirty years i've been napping every day he's think i love it snuck out in the afternoon in twenty thirty minutes an hour or whatever it is he's like it's good for my brain he's like i don't make good decisions if i'm not if i'm not well well rested he's like i don't dude you guys like high high five and hug over i was like finally this guy's is my people and he's like yeah he's like used to live in dubai that's how they it's too hot there than they you just snap and he's like it's it's a no brainer but overall he was like you know i have a clear schedule i spend my time i read i think maybe i'll go teach or talk to somebody who goes i teach not because i wanna be a teacher you guys because if i wanna learn something the best ways is to go try to teach it where's the teach teacher at like a school or off yeah who they'll give a talk at a university or like to some group of kinda you know aspiring investors or whatever and so i was just fascinated by this guy i was like this is the last story i love this guy's style of his emma mo i go to his library he's got just thousands of books and he's like yeah this is my like biology and science section this is my investing books section this is my business books section and he's like you know just recommending different books to me i thought it's pretty fascinating to see this guy because it's high contrast to all the other people i've met on this trip who are like go go go you know so i've heard this so often where people say for one people will say like warren buffett they're like i just i read like five hundred pages a day and then i'll talk to our friend andrew wilkinson and a few others you goes i just wanna read all day and in my head i'm like okay reading because that like like i i just read this like awesome like science fiction book about like aliens like is that counting like what what do they read i wonder all day like is it only work related is it like the equivalent of you and i skimming i is it no no i think it's less twitter but i do think it's you know some percentage of that is company's annual reports right like going in and diving in and looking at a company and looking at an industry trying to understand it some of it is understanding the macro the psychology of humans and about business and about whatever and he's got business books psychology books and all that some of it's about science and he's reading about that and some of it just for fun just to kind of like expand the brain like science fiction is actually quite quite interesting as an example because a lot of the things that are happening today were we're predicted by science fiction you know twenty thirty years ago everything from cryptocurrency to you know video calls to things like that that at the time seem far fetched you know predicting video calls which you don't even have a cell phone right it's like it took took some took some thinking there and so so yeah i do think it's a it's a wider breath it's not just reading you know ten qs yeah that's what i was worrying like is he just reading it's just r just reading those all day ten k's i think by the way we don't wanna look like a total full i'll give you a couple of takeaways from joe lo so for for those people who don't know joe created pal he's a c cofounder of pal which is a fifty billion dollar company but his actual claim to fame when i was talking to him he said something he goes i've created more billion dollar companies than anyone else in america that bald can't thinking it bald and i was like cool cool cool i got a podcast what's up i've created more episodes than than most podcast i thought that was a really amazing amazing you know achievement and it's true he's done like at least five billion dollar companies and this were all like in the last you know like short period of time his background is i think he went to stanford and he somehow got to peter teal orbit when joe was just like twenty one or twenty or still in college he kinda like right hand peter it was almost like a yeah was his per intern whatever at his hedge fund i i think by the story is really hilarious because he's like somebody asked them an interview when i doing my research they they're were like what were you like as a kid and everybody like if i asked you successful person gets asked what it was like growing up what's the typical response selling stuff it's usually humble origins of some kind right like i grew up middle class you know maybe i i had a reading impediment but that led me to you know really working on something there's usually some rags to riches the guy asked jody goes yeah grew up had great parents great family i wish i stuff came pretty easy to me i was basically i just was really good i just ace all my tests i was ninety nine percentile out math ninety nine percentile science i was a programmer i was like you they were was smarter kids than me but like you know i a school was pretty easy i focused on it i did well i got to into stanford i did it's like that was a story which i found to be hilariously candid because they're of course that exists but most of don't wanna say that they're so busy virtue signaling that they'll like they'll try to bend their awesome upbringing to be to focus on some one bad thing where he's like no my parents love me and they really put me in a position to succeed and i was super competitive and i fucking want that was his story and then he you know he got peter till orbit and he did he was probably was wildly successful just as an employee at paypal but then he spun off and they created pal together and then off of the backs of that or off the success of that he created like eight or six other companies right that like quote c founded which i don't understand what c founded means within his case because he's done it so often that i don't even understand the logistics of how like he has time to do that yeah he likes seeds them basically so he's like okay i have the you know you the idea i'll bring the team together i'll have the initial strategy i'll recruit the initial talent i'll recruit the initial capital and then you know over time either is ceo or not ceo of these different companies so he's done at a par he did pal he's done ep he's done like a whole bunch of different things in different spaces one is financial you know software for wealth managers another one one is like software for spies for the government another one is you know it's like andrew they're making like a weapon for the government you know like they they do different things in totally different spaces like trucking and logistics they've done all kinds of shit let me show the the the viewer if you're on itunes or whatever go to youtube to see this i get this text message from ben alright so joe has i don't know what his home is like but the room that he's in is elaborate it when you think of like old money and like the boys club of men's smoke it's cigars like you're just surrounded by encyclopedia there's a picture of joe and he's sitting there he's got a a suit with a high collar he looks like a hedge fund guy it looks like the president and we had an awesome awesome interview he's he was like that was the best podcast i think i've i've ever done he said that he said that his his right hand like his media guy said that i don't know if they're just being nice but i'll take it either way what did he what was like the one revelation that you got from him i'll i'll give you five points i'm sure to read them fast number one some people actually just wanna save the world so i am very very suspicious when people talk about you know they wanna just really help people they wanna improve society they wanna fix america all those things joe is that guy he actually is that guy that is actually what drives him i went back and read his like early blog posts and coral post stuff you know ten years ago fifteen years ago stuff he wrote when he was in school he's been saying the same thing the whole time and that's usually the the giveaway is not somebody who's you know changing their tune once they make it but somebody who's saying that before they make it and and i think he looks through everything through that lens of like what are the biggest gaps and then how do i fill them when we're were on our way out it was like oh dude we've been hanging out all day like we hung up we went there in the morning which is my hack we went and did his and work out oh did a work workout with him at eight am and then we would he fit yeah of course super fit so we we worked out together we cold plants together we got breakfast together we hung out then we did the interview so by the time we do the interview we were totally like you know in high rapport i guess and so i'm hanging out and i'm like dude i hang here all day but i could tell like i think it's my time to leave now after this thing is done he's gotta go do other shit today and we're walking out and freaking elon is walking in that's that's what was going on in that moment so pretty insane and alright what were the number two he's still wrestling with the idea of focus so one of the things he said i thought was really thing he's i said he's created more billion dollar companies than anyone else that in america let's say i i i i'll take his claim face value and he brought honestly he was like you know but i'm not sure if that was right he goes one of the lessons i learned from peter till is that you should be really really careful putting effort into new things almost always it's a better idea to put money into your main compounding thing that's got a lot more room to run like there's more area under the curve to kind of like fill of of something that's really working than to go take that same unit of effort onto something that's a a starting from zero and he's like honestly i probably if i had just done one of those companies i probably would have built a bigger thing than all five combined or all six combined or whatever it is which i thought is a pretty interesting thought and that makes me feel good to know that people i'd admire or look up to or who are ahead of me struggle with the same stuff that everyone else struggles i think he was at peace with it because he was like but at the same time that would be if i was optimizing just for money and valuation but that's not what i'm optimizing for like i thought these companies needed to exist so i built them i'm glad i did it's more fun to do multiple things and those were problems that needed to be solved so like i'm glad i did but just do the math here for a second so it's fit pound now fifty billion dollar company market cap even if you take at a par which i think a three billion dollar company or open gov which you just sold for one point eight billion it's like those are let's say those two together each one took you know seven eight years ten years to to kind of build let's say average trump take seventy years to do and he even if he totally wins and he gets to a three billion dollar outcome or two billion dollar outcome if he had just put that same energy into pound here like taking pound from fifty billion to fifty three billion is a hell of a lot easier and he probably would have taken it to a seventy eighty billion if he had put all of his same entrepreneurial energy into that versus starting these new so i he's actually kinda right on the math but i think he's also right in how he decided to do it he had an interesting rule which he's like i only do six things and i was like his definition to focus he's like i can only do six things he's like he's like they're not all equal i have like my main one or two things like eight vc and and starting you know one company but he's like i i can only do six he's like i think for his his like team is like general managers or his partners and his company like the high level exec people like they're all there's like some number where like they're only allowed to have three or they're only allowed to have six things on their plate at any any given time and i think three was the number for them and six is the number for him because he's not he's not operational as the ceo by the way his rule was if you're the ceo you have one thing and it's your company that's it this is awesome i'm so you know he's only forty one this guy's a he's a so prolific he's a machine i'm so excited to listen that also by the way just next level awesome in terms of lifestyle like ball house full staff jeff all the good all the good shit all the shit you would want like for me as somebody who's like you know you do play the money game it's interesting to see like what does the final level of the money game look like for these people like oh that's interesting it's cool to it's cool to get to sample it what do you think was worth it of what he spent on he's got a basketball court in his house thought that was pretty awesome he's got a he likes to he's like oh i like gaming so i got a game like a gaming room like a land room where he's got like six computers and he's like yeah me and my cousins all come here and play or whatever i i think like i've always been a big proponent of like a chef like i think it's the to me it's the number one wealth luxury is to have a private chef because of the amount of time it saves the health benefits for you and your family and the taste like all three it's a win win and so yeah i thought that was pretty equal too and then you got to hang out with nick gray nick gray is one of my favorite people on earth and you got to see his magic what he does with his parties that was it's pretty cool right yeah so when we the the end here is you know we do all the interviews we could do all the one on one meetings and at the end is like dude there's like a list of a hundred people that are interesting in austin we we could we wanna hang out with but you know there's just no time so we were like let's just do a small house party so we did like a small fifteen person house party and we asked nick to organize so i got to see nick gray the legend run one of his famous two hour cocktail parties go by his book two hour cocktail parties this guy is so he is such a legend in just his vibe it's awesome right he makes he feel good gotta tell you this sol hilarious story so he does all the normal nick gray things i walk in he puts a name tag on my shirt the name tag is yellow so that after we all do our kind of intro he's like we're just chatting and know like normally you're just kind of chatting you're mixing and ming england and like everybody our own social prowess is is somewhat limited yeah some people are really good at it some people feel awkward you don't know how to exit conversations nick makes that easy because it'd be like great harmonic he plays his harmonic he's like we're gonna do a structured activity look at the color of your name tag join that group and i want you to talk to those people now so he like mix he like or he like will stir the pot basically to mix you that mix you up so he's doing his thing and then he's like at the end he's like we're trying to leave and he's like he's like hey sean can you call my phone i wanna do a gag i don't like you what what do you wanna do he's like i have a gag call my phone and i call his phone and he reaches into his bag and he pulls out this giant like handle of a butcher knife but it's a phone case and his phone is on the other end of it he's he's like hello this is my gag thought this was really funny and i was like not only was that funny i've never heard someone say hey hold on i wanna do a gag that is just dude great right makes a special person and he makes a he all he makes his party's fun did you guys like to do the introductions and then he like cuts people off if they talk from more than ten yeah he's he's awesome we did a thing at the end where i guess he had been just like s around the party to like listen for interesting things so he pulls out his no notebook he's like camera to circle and he's like alright sean you were saying you discovered this amazing hack for your you know business and it was just like it was so effective what was that and it gets you to share the things like you mentioned you were doing an art show can you tell us about the art show you had four or five people just like do a thing it's it's definitely like i feel like i'm in second grade and my teachers like it's you know put up your bunny ears and like you know just everybody quiet now we're gonna do a structured activity but honestly it's such a relief because i hate social gatherings i don't even leave my house most times and when i do it's kind of an exhausting thing but he's he's really got the shit down to a science i kinda love it but your takeaway in austin it's it's a pretty special place isn't it fishing for a compliment yeah sure it's a very special place it's it's cool it's like there's there's there's there's a lot of cool people there and you i didn't know you this you hung out with one other person hassan son hassan min h dude i do not like hanging out with him because he is so smart and so funny that i get into i intimidated being around him do you not feel that i had the opposite reaction i walked away and i was like dude ben like that is one of my favorite people on earth to hang out with like if you said hey and it was perfect it was like a breakfast before i caught my flight i basically missed my flight because i was having so much fun at the breakfast i was like fuck it's worth it like it was he is so great and i'll give you the the kind of three reasons what what out to me number one obviously humor like it's unfair he's a ringer like hanging up with anybody who's funny great but hang professional comedian and it's sort of like you know he brought brought a gun to a knife fight it's intimidating when you hang out with them or when i hung out with them because like he just makes little small comments and i'm like you're just so much you're so much quicker and funny this so much background dude he's so much quicker it's so fast he's so fast it's like a jv athlete hang out with a pro where it's like i didn't wanna play with you this isn't this isn't fun that's how fast he is i love saying it was amazing he's so quick and then number two present he so present when you hang out which is great like not looking at his phone not thinking about what to do next not you know eyeing the room fully locked in fully present which i thought was really great and the other thing is he asked a ton of question so we had a different hang with a we had did a breakfast thing with a different billionaire type of guy nice guy had a great time but i shit you not dude this guy literally asked one question in a two and a half hour hangout and it was it was not difficult because like i had tons of questions for him so it was no no problem but difficult to sit there be like is this person just really just doesn't give a fuck about being here like do they not wanna be here because they could leave i don't need to do this if they just don't wanna be here here's what i think it is i think that so when you and i host like m meet up i go there and i'm like i'm just gonna get pepper with questions and i'm gonna ask other people questions to be cordial and everything but i i feel like you know there's like a status like game here they're here to see me so i'm gonna be answering the questions and then you go hang out with someone who's above you in status and it's like i'm i'm the one who's the the men in this situation i'm gonna be asking you all the questions and i think when you're as successful as this person who you went and hung out with you're just used to being the the i don't know not particularly wise one but you're the one that's supposed to have a lot more answers and you you have what others are seeking and so you're used to just being the one who's i'm gonna be an open book i'm gonna answer what do you got you know what i mean and that that that shift it's like an alpha shit it it is kinda of it it it is really uncomfortable but it but i totally understandable but i also think you know i kinda of wish i always wish had said but like i kinda wish people are aware what that makes the other person for you like it's good reminder itself of like never make other people feel that way i think was the opposite where he has so many questions his cup is not full right like he's he's here and he's like pour some water into me like give me some something to think about something to learn something to whatever and he's asking tons of questions and i think that's such a attractive trait in people and it was just a reminder of that like on this trip i was you know got to be in both positions position some some places where you know the the status game was sort shifted in one way and others where was totally shifted the other way it was a great reminder of what it feels like and how easy it is to just make somebody feel amazing like i think husband does that you know really really well i have a couple others can i give you two others real quick yeah do you know this guy the baby's guy no you've met this okay so he's an i thought you might have met him his name's tyler so there's this company called babies and they sell slime on the internet not just a little slime on the internet they sell a lot of slime on the internet tens of millions of dollars worth of slime gets sold from these guys they got like if you go to their tiktok they have ten million followers on tiktok and the reason why is because they create awesome content the content could drive sales it's just this like great so anyways was pretty fascinating i'm talking to this guy and i'm like he was at the house party so i was like what's the story and he told me a pretty fast story he's like well i he's like i was he's like before doing this i was a poker player pro poker player was looking to transition out and he's said before i poker player i was the best yu player in the country so he's he goes from the top like yu player to one one of the top poker player yu yu like pokemon it's like a pokemon type thing and then then he comes he meets this this girl and she's telling him about this slime business she used to have but she's shut down and as he asked some questions he was like actually she sounds kinda promising what if we revive that which i thought was just like a pretty impressive to take a business that somebody else shut down and be like i don't know it seems like they might be legs there let's try it and they tried it and they ended up you know crushing with it and the only takeaway i have from this guy was he totally pattern matches to what i've been saying so many times on this podcast which is that people who have a background as a competitive either gamer or in some competitive meat spelling bee yu poker whatever those people who know who learn how to win that game learn how to win at league of legends or you know they're the number one sneaker flipper in california sent shit like that as soon as they just pick a better game they're gonna win that too and that really gets me to like something i really wanna do and it's a call to action i have for anybody that's in the audiences i really wanna organize some kind of event that pulls together the people that are young and doing those types of thing the math leads the the best pokemon players the best league of legends players you know whatever best fortnite players because it's just a matter of time till they get the spark to shift their game and i wanna do two things i wanna invite other people who have that backgrounds for example joe lo he was a competitive math and that's what he was doing right super do at that age but like those types of people are always gonna make it the you know the founder of this company called t he's the spelling bee kid right we talked about that on the pop episode as soon as they decided to play a better game they have a great ability to do you know like excellent i'm sure some percentages never shift games they they kinda stick in that world too long or they just become a coach in that world they never really start to apply it to the world of business but if they did they would do phenomenal so i wanna organize some event what's a channel or the show you like something one hundred physical physical one hundred exactly you gotta you get what what the the physical one hundred the laptop one hundred yeah and so what you gotta do you're gonna like host like a like so i a name and a frame right like i need a name and a frame for the thing and then i want somebody to organize it i'll put up a hundred grand to like pay for all the event stuff and i i just really wanna for those people i wanna give them exposure to hey here's twenty people who have the same background as you that then shifted their game and now do amazing things in the world so i wanna i'm wanna have them meet and then i wanna scout that talent and be like hey whenever you're ready to go do something new i'll be your first investor and so that's what i wanna create you can get it like a like a cargo short company as a sponsor or like a risk guard company as a final little bit yeah yeah fun who these these nerds watch sam watch you'll be grove them years from now i i hey i acknowledge that they're all gonna be the the the the big shots but i'm still gonna tease them what was the last person alright i'll give you a quick and then i have a little bit long run so quick one is a little lesson so i was talking to a guy who also is doing you know tens of millions this year on on tiktok shops and so they're crushing on tiktok not a not a game i play but it's a it's a very lucrative game for those who who cracked it and i said something in passing i was like oh yeah i saw this tiktok that had this hook the hook being like you know the first three seconds of the i was like thought that was a great hook and like i i've been talking to this guy for three hours i i had thought i had said fifty interesting things by then it didn't make it he didn't flinch any of the forty nine but on this fiftieth one immediately goes wait what was that again and he takes out his notebook and he writes it down he's like he and he goes he's like did you tell your friend that they should do this you should definitely tell your friend that they should do this and and i was no i i just i don't no i just thought it was just a silly tiktok and he's like no no that's not a silly tiktok it was one hook like that can make your whole company and i it was a great lesson that actually i saw five times during the trip which was when you find when you meet a really interesting or successful person pay attention to what they pay attention to so like he leaned into that and you know maybe mona would not have leaned into that but he would have leaned into something else that i said and if you start to pay attention to what people lean into it teaches you a lot about what matters in their game and in their world and how their brain works and maybe something to you just looks like you know rubbish but to them it's gold and so it just was a good reminder of pay attention to what other people pay attention to like if somebody was talking to you what would they see you without your phone to write down or notes that you would wanna take that's good question well something related to my current business but yeah like like like you know if someone says something about retention or something or how how to create a breakthrough amongst a group of people who don't know each other right right or before for you it might have been something in writing oh i love the way he phrase that it's a yeah or like a a really good ad for acquiring newsletter subscribers you had a notes or a doc that was like you a swipe file of awesome ways that people phrase things beautiful writing little phrases most people don't pay attention to those things they don't collect those well it makes sense that you ended up being a guy who's known for writing and wrote a newsletter that millions of people read right is it kinda like makes sense once you add add the once you connect the to and so i just thought that was really really indicative last one i got to watch ben cook so ben levy my business partner who is the the secret to my to anything that i'm able to do ben superpower is connecting with people and i wanted to share with you one little thing that he he does so every time we would go to a meeting because like but imagine our schedule is basically like we we meet with somebody for let's say two hours there's like a ten minute uber ride before we're gonna meet somebody else and we're just doing that nonstop for four days and you know i i got to feel like the president because would be like are we remaining now i don't even know the schedule and he'd be like we mean this guy and he's like and then he would always have his one thing and i'm like because i'd be like what are we gonna talk about maybe we tell him about what we're doing with this but ben's focus was always what's the one thing we could connect with them on and so he's just really good at this i didn't anytime we go meet with somebody ben would have is like one thing that he would bring up and the person would immediately crack open like you know a pistachio shell and it'd be like all of a sudden they're excited they're talking and like it would open it up and ben probably wouldn't even say anything else for the rest of the meeting it's like ben talks less than ten percent of the time when we go to these things but it's the one thing he says which that cracks the person open so what's an example of one thing so we will meet with somebody who's known for x let's say they're a youtuber with ten million subscribers but what ben knows is that they started this side channel that's just starting and it's getting it's not that popular yet but it's about one thing you know like the they're their hobby they're interested in this one area it'll be like oh you're really into that right and you won't even phrase it as some like profound question but he'll just ask them he'll just try to connect with them about the one thing where clearly their passion is they have some passion around it but it's not the thing they're famous for i noticed he would do that over and over again oh you know we we we hung out with joe ga and he's known because he's the creator of airbnb and so we're hanging out and instead of asking about airbnb he would say you're really into like micro plastics right like aren't you like really trying to figure out a way to not have you know but what's that about and then all of a sudden joe who's told the airbnb story a million times and every time i was asking about airbnb was like i'm forcing him to play his greatest hits all of sudden he lights up because he's like really into this right now he's learning things it's like more of a more of an area he's really into right now so he would just find that one thing and then afterwards he had his one thing too which was after the beating i'm like okay where are we gonna go like that's when my brain goes whereas ben's like oh we should connect him with this one person or we should send him a link to this or we should send him that example we have of the thing he said he wanted to do or like oh you have you've talked about that you should send him a note about that thing and it really i was like what are you doing he's like i'm just i'm trying to be useful and then when we talked to mu he talked about you know he was really good friends of charlie he said when charlie mu died i think on his tombstone it is written or he wanted to have it written like you know charlie mu you know he tried to be useful and to me i'm like that's what ben does he just tries to be useful for people like oh we can help them with this we help this person with this one little thing he just keeps doing that and then that's how he builds these amazing connections with people just by trying to be useful to them in a way that i am so bad at it ben has this had quality to him which is he's always like mostly happy i've never seen ben not like i've never really seen him in a bad mood you know he's all and so when he asked these things it's hell sometimes he'll ask me that are like pretty private but because he's always so happy about it i'm like yeah whatever like we could talk you know is a safe space he's he's is a safe space the last thing that's hilarious so he does is he never turns it off like we will be playing in a pick basketball game and it's like we're going to eleven it's ten nine it's game point and he'll be guarding some guy and he'll be like he'll just be like so what was revenue last month or is like be asking of questions like oh i heard you i saw you tweeted about this thing and the guy's like so thrown off like do what now still and like it's just like so enduring he's like dude he's just so curious he just can't turn it off he's always he never turns it off even mid game which is so funny to me i was with ben at a family's birthday party and he he he was it was on mode and i was like ben let's ask this freaking twelve year we were with we are with a friend who was dating a new woman and she brought her daughter around and i go ben asked the daughter like about school or something i was like i don't know like engaged the kid don't i'm not talking about my revenue in front of this new lady so funny to was like it's like so what's churn like yeah how much money do how much money do you have i'm like ben well it's not always personal like sometimes it's just like how was austin right but it's like dude now now's is not the time for the hall austin conversation it's like it's not even that it's always personal questions it's just that the curiosity there is no you go he was in on mode there's no off mode i've never seen him an offload i hang i don't think i got twenty four seven it's amazing alright you had a good trip i mean i'm i could actually listen to these stories all day and i'm gonna listen to the podcast i never listen to our podcast i don't know if you do or you or or what you do when i'm but i'm not on it i'll i'll listen to it yeah i do list i listen to yours as well but if i'm on i'll never listen to it i'm incredibly excited about joe lo i know you talked to tim ferris i know tim a little bit so i'm less excited about that just because i know i'm already but i'm excited about mona i'm excited about his and and joe lo so i'm happy that you got to hang out with them it seemed pretty good for you for you personally to build experience that yeah the funny thing is it's like most things in life you think the payoff is over here but actually it's over here like i think every time i go into these episodes i think the payoff is oh i'm gonna make a great episode but it's like by the time i've done the research on these fascinating people gotten to know them gotten to hang out with them at their house like that was all the value the episode itself is gravy for me and i hope they turn out great and you know i i think that that these ones did but the reality is like and i think there's a principle of most things in life like you you have some goal you have some idea you think is the reason you should do it but it's like you know something along the journey is actually the valuable thing you just couldn't have known that you just have to go to go pursue it full force then then it happens so hopefully this episode was me sharing some of the random nuggets along the way besides the episodes that you'll get to see when they come out alright that's the part i feel like i could rude where i know i could be what i want to put at all in it like a days off on a road less travel never looking back

Episode Notes

Episode 572: Sam Parr ( https://twitter.com/theSamParr ) and Shaan Puri ( https://twitter.com/ShaanVP ) talk about the 10 revelations learned from spending a week with Texas billionaires. 

Want to see Sam and Shaan’s smiling faces? Head to the MFM YouTube Channel and subscribe - http://tinyurl.com/5n7ftsy5

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Show Notes:

(0:00) Tim Ferriss asks Shaan a hard question (panic ensues)

(2:46) The Indian Warren Buffett

(7:25) "Investing is not a team sport"

(8:31) Mohnish Pabrai’s Nap Room

(10:28) Required reading list of a billionaire

(11:47) He built 5 billion-dollar companies by 41

(15:39) 5 Revelations from a day with Joe Lonsdale

(19:50) The final level of the money game: private chefs, full size basketball court, etc

(20:52) Nick Gray, cocktail party legend

(23:45) Hanging out with smarter people

(27:17) Nerd sports that make the best entrepreneurs

(31:17) Pay attention to what other people pay attention to

(33:47) Ben Levy's superpower as a superconnector



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Links:

• The Dhando Investor - https://tinyurl.com/53p9bhfv

• PeachyBbies - https://peachybbies.com/


—

Check Out Shaan's Stuff:

Need to hire? You should use the same service Shaan uses to hire developers, designers, & Virtual Assistants → it’s called Shepherd (tell ‘em Shaan sent you): https://bit.ly/SupportShepherd


—

Check Out Sam's Stuff:

• Hampton - https://www.joinhampton.com/

• Ideation Bootcamp - https://www.ideationbootcamp.co/

• Copy That - https://copythat.com

• Hampton Wealth Survey - https://joinhampton.com/wealth



My First Million is a HubSpot Original Podcast // Brought to you by The HubSpot Podcast Network // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano






Past guests on My First Million include Rob Dyrdek, Hasan Minhaj, Balaji Srinivasan, Jake Paul, Dr. Andrew Huberman, Gary Vee, Lance Armstrong, Sophia Amoruso, Ariel Helwani, Ramit Sethi, Stanley Druckenmiller, Peter Diamandis, Dharmesh Shah, Brian Halligan, Marc Lore, Jason Calacanis, Andrew Wilkinson, Julian Shapiro, Kat Cole, Codie Sanchez, Nader Al-Naji, Steph Smith, Trung Phan, Nick Huber, Anthony Pompliano, Ben Askren, Ramon Van Meer, Brianne Kimmel, Andrew Gazdecki, Scott Belsky, Moiz Ali, Dan Held, Elaine Zelby, Michael Saylor, Ryan Begelman, Jack Butcher, Reed Duchscher, Tai Lopez, Harley Finkelstein, Alexa von Tobel, Noah Kagan, Nick Bare, Greg Isenberg, James Altucher, Randy Hetrick and more.

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• #209 Gary Vaynerchuk - Why NFTS Are the Future

• #178 Balaji Srinivasan - Balaji on How to Fix the Media, Cloud Cities & Crypto

• #169 - How One Man Started 5, Billion Dollar Companies, Dan Gilbert's Empire, & Talking With Warren Buffett

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