Lessons From Sam's New Business Venture, High Stakes Gambling, and More

okay i just sent you something hilarious i've been following this twitter called mug s and it's like a play on mug shots and we you we talked about this did we talk about mug s it's so funny and the tagline is the tagline is a hope bay gets bail and it's mug cha and it's all like good looking girls who have a mug shot it's hilarious is so funny yeah we talked about that because there was the guy who his mug shot went viral because he's got like he's just like really stunning good looking and he became like a model after afterwards or whatever yeah i remember that guy people still talk about them can i take some crazy stories yes so have you ever seen i i think this is probably outside of your you're like kind of orbit of what you pay attention to but have you seen these gambling live streams where drake will go on twitch and he'll gamble like twenty million dollars live on stream no really yeah like over like real twenty million dollars a real twenty million dollar like he lost like i think seventeen million dollars on ro at one night last like two weeks ago or something like that i it seemed really that rich that i mean like if you're two hundred million dollar rich that's ten percent of your net worth in night okay so that's a substantial amount good question i had the same question which led me to some pretty interesting findings okay so so i saw drake doing this and i've seen other popular streamers like qc see and these guys they do these gambling streams from time to time people love to see it because they're playing kinda like high stakes online you know gambling and they're reacting to the highs and lows or whatever ben have you seen this i think i think it's probably also outside of your you know more or orbit either you don't watch these kinds of sins yeah so exactly so so i saw some all this is all on twitch it's happening on it was happening on twitch maybe some people do it on youtube as well but it got me curious i was like there's no way this guy's gambling twenty five million dollars twenty million dollars of his own money on these things that i was like there these streams get so popular i'm like this is actually great marketing for the website that it's on so he's he's gambling on something called steak dot com s k e and so i was like i bet this is house money that they're giving him in order to just promote the site and sure enough that's what it is so get this but is he is he losing it again when you play blackjack jack you lose against the dealer right house yeah so they're okay like if i gave you twenty million dollars to play my rigged game i gave you twenty million you lose it right back to me i get i and i you know i'm back hole they don't even lose the vi because they're the house so they would take that you know four percent edge or whatever that they would have they keep that as well and if you win maybe they have some deal where we're like if you win you keep the winning i would assume they have some deal like that with them but it it it it's electronic right like it's like the cards are digital it's not like a camera on so then they could just be like oh shoot drake has twenty we have to make ourselves have twenty one yeah well that that's yeah that's a little bit that's illegal for sure but they they wouldn't need to do that i guess that's kinda of my point is that they'll they'll already have a house edge and over time like they will win and so and even if they don't like this is as a marketing campaign like this is like kinda genius and so what they're doing is steak dot com is this website and it is the largest cryptocurrency based online gambling site in the world and nobody knew who was behind it until recently some guy in australia bought like a thirty six million dollar home and they were like who who is well you're in your twenties how did you buy a thirty six million dollar home all cash like what's what's he was he was in his twenties so these guys they're in their mid twenties i think one guy's twenty five or twenty six other guys twenty eight and and so there's this guy ed you can just slur search ed crave ed crave steak and you'll see the secret origins a secret australian origins of the world's biggest crypto casino and so get this so basically they have online there's these guys in in australia and they've got this office and it's just and they the office is under this name called easy go gaming it's like we build online games and the office is super nice and people would see it on social media they would see like wow these guys got like a chef and they got on these perks and they got like they're always going on these trips and like what's going on with man easy go gaming you guys must be an awesome gaming company so yeah it must just be like a couple people and they're just hanging out at someone's house and so well no no so so the this is a legit company but basically easy go gaming is the licensed gaming provider like they provide the games to the casino company stake which is based in some place called k or something like that which is like some dutch caribbean island where the actual casino is based and these guys own both so they were kinda known almost was only the owners of easy but they actually own steak and so it all got kind of like revealed when the guy bought this home for whatever you can see even there's like a daily mail article he buys i'm i'm i'm reading it right now a thirty guy org yeah thirty eight and a half million dollar mansion he buys and they're like who is this kid he's twenty six years old or whatever and that's kind how people figured out like oh he owns steak dot com now i i believe these are kind of like my predictions and my guess is so steak dot com i think is pretty clearly clearing like billions of dollars in revenue i think both of these guys are now self made billionaires possibly even ten billion plus is what they've made off of state dot com because this thing is a absolute cash cow and you can kinda back into this by looking at like they do these like sunday raffle whatever lottery type thing and it's like you pay it's like oh wow you know two hundred fifty thousand people bought this like ten dollar ticket it's like wow they they just you know that that was just like a two two and half million dollar sunday for them and then they pay out this much and they keep twenty six million or fifty million like that's just a week for them and so and so you can kinda see you could kinda back into i did some some calculations on it but but i'm pretty sure that these guys are both self made billionaires if not ten billion at this point in equity value of of steak dot com and it's just kind of crazy to me like that this exists that these guys are so young able to do this and and people who are just willing to like live on the edge it's like yeah i'm gonna go set up a company at the dutch caribbean island of k which gives out like online gambling licenses like you know my neighborhood gives up candy on halloween and these guys have a amassed this absolute fortune kind of anonymously building this isn't this just like isn't this kinda crazy to you yeah this is i'm researching and i know how i recognize this they're a sponsor of the u c yes and so they're big u sponsors and they sponsor wat the like the english soccer team so they like pay ten million a year as their like lead leads sponsor for that too so i'm doing research just as as you're talking on linkedin there's i i don't well here one guy says he's a ceo but that's seemed i don't know if that's legit this is this is crazy this is one of those amazing companies this look just like vpn and a few other things that's completely under the radar and is totally crushing and i've said this to you before i actually think that people's personal homes the price of it you know like a rich person can live in a low priced home but if you purchase a high priced home the likelihood that you're rich is like it's indicative of what you have because it's hard to it's not impossible but it's hard to give a bank to give you a loan if you don't have a significant amount of income not just assets but income so if he bought a thirty and if he bought a thirty seven million dollar home in cash is that really what it said so and then yeah i don't know if it was all cash but it was like three times the the household sold in two thousand eighteen for three times less and then the guy renovated and he this guy bought it for for whatever almost forty two to buy a forty million dollar home i would think you'd wanna be worth like at least two hundred and fifty million dollars in at least some type of liquid situation as well not just privately held company so here's my notes on this thing so i'm just gonna read you my raw notes from last night it says small company in australia and melbourne called easy go looks like your typical successful start you got ping pong tables you got a chef you got perks you're going on on on boat trips with like with the team but they're hiding a massive secret they're also the founders of steak which i believe might be the world's largest casino ever it's crypto only which is a massive growth lever just does that mean that it that it's legal you mean illegal i i don't know the legality of it that's like probably a pretty cool thing like like full tilt went away in america i tilt like you can't go if you're on state dot com in the us you can't go to it it's like no this is not available to us citizens but it but internationally it is and they they based out of cure account which gives out the online game so i think they are fully licensed but they use crypto which i think lets them do things like no yeah as they say ky y c am like know your customer so basically i think you could just transfer in bitcoin or whatever and you could just gamble it on the site you just put an email in and you start gambling and so they got like all these games or whatever i think that they're paying drake like twenty million dollars a month to be the like sponsor of this thing which always trying that much because he's gambling at those steaks and i'm pretty sure that's all house money i don't think drake is promoting this company for by by putting in twenty million dollars of his own money and losing it every month well they're not they're not giving him twenty million dollars they're saying you can win up to twenty million or you can know they're leaving them house money they're giving them a chip or a credit line that basically says here's twenty million dollars to go play on the site you probably can't just cash that out you have to gamble here but but i'm pretty sure that's how it's working that would be crazy i mean i i like okay so the private some some of the private equity guys like steve schwartz and a few other folks who founded carl on black rock and blacks stone and all that there there's there's some years well they'll get paid like eight hundred million dollars or five hundred million dollars because of performance but shoot twenty million a month is two hundred and forty million dollars a year that would there'd probably i can't imagine there's more than a hundred people in the whole world that earn that much income or i mean of course there's a lot of people who earn like paper gains but who earn that much income in a given year that would be absolutely astounding so get this so they so the guy buys this house for forty million they also own multiple houses like the top floor of the eureka tower in melbourne which was the largest skyscraper but here's what what's team more interesting when they were eighteen when one of them is they're the guys twenty they started something called prime dice dot com still up if you go to prime dice dot com it's basically a crypto gambling site or you just bet is it gonna be like what what's gonna it's like a heads or tails it's like a roll of the dice and you could just wage on it and like you know here you go and you could just see people just betting constantly on what the dice is gonna roll out to right and like what they're gonna what they're gonna win for it so they created this when they were at back in i don't know twenty thirteen it says i think on the site it says largest crypto gambling sites since twenty thirteen so they're pretty early on that this site is wild do you see all the live users betting money yeah it's crazy and and i mean just look at this one guy shane recovers it's just betting over and over again this company this is this is such an amazing five fine this company alone this prime dive thing is awesome then let me tell you some of the the other things that that come into so so basically i think one of the youtubers that they pay or or maybe twitch marie this guy aid in ross i think is getting paid a few million bucks per month to to do it that that i think there's pretty good authority on three million dollars a month yeah no i think two two million a a month okay now let me get it going into more okay so all of that was like you know this is all like not confirmed but like these are now like some rumors so or i guess this part's is not a rumor like if you go to their website you could see that there's a a company called medium rare envy v which is incorporated in k that's the company that holds the the gaming license if you google map the address it's just like a shitty warehouse building that you'll find like where this company is based so i don't know what's code out there like you know when you incorporate in delaware and they give you like a po box as your address so okay and then a couple of other you know random rumors are like they had they they added dos coin to their site as like a way to deposit back in the day and like when elon when all the elon stuff was happening i think they don't like hundreds of millions of dollars worth of dose they like sold it all when the elon pump was happening to to dos coin and yeah it's crazy so so anyways this is just like a crazy thing well what like okay let's say you even had the idea for this i googled i googled i'm googling these guys as you're talking there's very very very little information on these folks right there's this there's almost nothing i do you think can i change my browser to australia and maybe get better results because i'm googling their names now and there is like there's one picture on them on the whole on everything yeah i like found their instagram both their instagram are private but like yeah like i know somebody who who falls or whatever so i like stocks their instagram too just to see like what's going on and it's jacked are they jacked bros now or are they still nerds they're they're i wouldn't say they're jacked but they're fit and they're bros for sure like they they're breaking the stereotype you know like here's the like i'm just gonna describe to you i'll send this photo we can put this in the ferrari pictures okay so one okay picture number one you would have guessed for ferrari but here's a close second picture of a range rover with a giant bow and somebody hugging them because they just gave them a range rover okay that's a classic you gotta love that one another classic you know the like influencer balloons you get when you cross like a million followers or whatever the yellow giant inflatable balloon of a number they have that and it's like some guy you know hugging him doing that another one like court sign at the lakers game court sign at the french open like i could see the dolls calf like you know right behind this guy's head in this picture so they're definitely living it up and as i should this what this exactly what i want my online casino dealer guy's life to be this is what i wanted to be and this is how we want them to live and i'm glad that they're doing exactly what they're doing and you one of them is only twenty six is what you're saying yeah and this article might be a let out to date but yeah that is they definitely they definitely hit this scale when they were in their twenties like the youngest rich the richest young person in the world like richard than what's his name the sam bank fried guy yeah and younger or on par with it and and younger that is outstanding that is crazy what a good find speaking of young billionaire i think that world's youngest self billionaire now is this guy alexander wang if do you know this guy i i don't really know him i think i in a group chat with him is that from that company start up yeah yeah yeah so what what they do is pretty cool they basically saw the kinda like machine learning trend you know like you know this is gonna keep growing and they were like well you know one one thing that's really hard is like when you're doing machine learning you need like the data to be labeled right so if you're trying to teach a computer how to recognize a a you know a kitten or something like that it's like you first have to train it in some ways or be able to like teach it when it's wrong and correct it and so that labeling process is is quite like time consuming and so what they did was they created like a a i think a giant workforce force of overseas people that will label your images for you and so like if you're a self driving car company if you're way moe or or tesla whatever you get like tons and tons of footage and then now those need to be labeled as like yep that was a dog crossing the street yep that's a stop sign even though that's partially obstructed and so how does that happen that's like a human intervention humans go and do that and so scale started off as like a it was labeling as a service i'm sure they do a lot more stuff now but it's pretty crazy that's like a ten billion dollar company now and this guy i i think he started it when he was nineteen or something what is cool yeah he's cool like i didn't know him for long because as soon as they're it's pretty funny it's like i'm in this group chat that's like four founders yeah for for a bunch of founders it's like oh it's kind of like the underground founders hang out like we we chill here everybody's trying to do big things but then when one guy actually started doing big things he's like i'm busy i to leave this now and so it's like the the ultimate signal it's like oh when it really takes off you don't set up day of these cats you just sort of like go do your billionaire thing now meaning you go do your you're like i'm actually on a rocket ship i don't have time to socialize anymore which you respect to him dude i was gonna show you something that i thought was like a major good find and now it seems like achievable given that you just set the baseline at to twenty six year olds who are now worth ten billion dollars this one's a little this one's much smaller but still oddly interesting go to the the m or the million dollar brainstorm document okay that we have and scroll down and so you can kinda see that like this is truthful the guy sent me a picture of his quickbooks so you see it yeah looking at it alright so this guy named matt paulson so you remember my twitter got hacked yes so there was the basically people hacked my twitter and they tweeted it out like i'm giving away a ps five or whatever the number is and just like send me four hundred dollars and i'm donating the money to saint jude and this guy matt i when i got back in my twitter i saw that he sent two times the asked amount he was like he's like i just wanna set it went ahead and sent you a thousand dollars just you know so saint jude has a little extra money and i i was like oh my god dude that that that sucks i'm so sorry about this and he was like oh no big deal and i was like alright well who who are you that you're this nice and i clicked out and he runs this website called market b have you ever heard a market beat only when you you you shared this in the transcript so i did a little bit of stocking at that time because i was like what is that you know your tweet was intriguing you because you had said something like i've met a guy who runs a company that does twenty five million in revenue only thirteen employees and it was like seventeen million of the twenty five was profit and i was like yes alright yeah yeah i'm fully aroused tell me more what is this company got them yeah and so he sent me a picture of his quickbooks and he was like here's the profit then keep in mind this doesn't include my huge sal or my huge salary is it part of the expenses but we actually do seventeen million of profit the p and l that he set me it's like i think thirteen million dollars of profit so it's called market b market b dot com and for the first two years it was just him and you go to marketing what it is yeah like well what is you you go to market beat dot com like i always google like hubspot price targets because i'm curious what hubspot what analysts think the the the stock might be in one year and he shows up early in google one two three if you google amazon price targets target price targets whatever like any and it's he calls it a web portal but if he didn't know better you'd would look at and just call it a media company so you you see different headlines and different news it's kind of like wall street journal but really even more niche and just for stocks just for dividend stocks and it's just a way to really quickly see headlines of what's coming up so it's kind of like a a portal or a day data ag where you could just like see like alright this stock has an earnings call on this date so it's basically just a place to get information but it's also part media company because they have they published two hundred and fifty articles a year or sorry a month and they have contractors who they pay a hundred and fifty dollars per article to write these but he told me he goes regardless if the articles don't actually add to any of our revenue people come to the website mostly just to see like the stock prices and things like that and so right now the guy has eleven employees and i actually have a list of sorry thirteen employees have a list of what they all do he got he's got four developers for support people one ad guy one accountant one content manager one marketing assistant and him and they make money through subscription and through advertising most of which comes through advertising they've got fifteen thousand subscribers who pay between twenty and forty thousand twenty and forty dollars a month and one ad guy selling all these ads and it's mostly direct marketing and he's got a bunch of different brands like he's got sorry we're going faster the the just to break down that revenue it sounded like subscriptions is something like four or five million dollars a year out of the twenty five is that right well he told me fifteen thousand premium subscribers and they pay either twenty or forty dollars a month depending on whichever one they get let's call it thirty so that's five and five and a half million from the subscription from the premium and then the rest being ad revenue twenty million of ads okay wow crazy right and there's only one ad salesperson he doesn't have a team of ad sales guys and he'll they sell directly to large like maybe like the motley fool or some other like stock picking newsletter or some other financial brand or some company looking to promote their stock or different financial brokers financial products like wealth advisors things like that but if an advertiser is too small they just work with an agency and and they just say hey agency you know we've got some leftover inventory you wanna put your ads in here and it's just one guy doing the whole thing doing yeah unbelievable so it seems like the the trick for them and by trick i mean hard work and strategy by the way been around i think they've been around for fifteen years right and it was seo is it's seo that drives the bulk of the traffic is that the idea i think early on now it has a little bit of a brand before even knew the guy i would actually go to it all the time just to look because there there's really nicely organized like i'm on like the amazon one right now and it's like it has just like a bunch of stuff put together it's like oh here's the execs here's the ceo here's their age here's their pay if i here's the you know here's the percent share you know amongst these different groups yeah it's like analyst targets etcetera it's kind of ugly by traditional web you know two point o standards like it doesn't meet any of the design requirements that like airbnb would approve of but in my mind it's perfect it actually is designed beautifully like it works wonderfully and so it's like a cluttered website it kinda looks like dr report or craigslist or something or ebay like it's this messy website but i think it's quite good we need to put together a compilation of what i'm calling sam's ugly duckling links and this is an example of sam's ugly duckling links which is is website that like who the fuck you've heard of this it doesn't look super fancy it's kind of been around for a while it's got this like niche passionate audience dr report is one this is another you've showed me like ten of these in the last year and i think people are i think people really dig these and so we should do an episode that just highlights each one of and it doesn't even have to like a podcast it's almost like a screen share maybe it's just for youtube or like there's this guy reaching out you're trying to turn our podcast into like a ebook or whatever like a really nice designed pdf we should have him do it on your ugly duckling because he's got extensive notes on what you talk about in each episode really do sky and india i i forgot his name but i'm talking to them right now to get one of these made for us because i think it'd be dope right like that'd be do the seem embarrassing like i i get some people who are like now there's people who are like i would say kinda like a little more successful in the tech industry that are getting into our podcast whereas i feel like before we were kind of like a different audience for whatever reason like like kids almost like kids i not kids it was more like just like entrepreneurial i would say is definitely a big component of it which might be k but might be like somebody the thirties that wants to make a change or whatever or it's just like yeah i own this awesome business i'm based out of you know pe illinois and it's like what the fuck who are you and how did you find us and but like that was more of our main target and now i'm getting people that are like kinda of the hardest silicon valley that are like dude i kinda got hooked to the podcast and i'm like do you have to tell you about this for like two years and they're like yeah it's actually good and they're like what are like the best episodes you got like two hundred and i was like i don't really know he's like well what's like a place to find the most popular ones i like i don't have it he's was like is there a place with some i was like nah not really he's like well you have all these ideas is there a of all these ideas i was like there should be someone i think maybe once it's like all the obvious like kinda like growth things that you would do or like onboarding things you would do we've done none of and so i'm like kind of embarrassed about that but i'm not embarrassed there's it's working yeah i know i just a could help us like i think i think i would want that if i was getting it into a podcast forecast and you let me this is funny let me tell you how i found out about market beat i was reading starter story i like that website starter story and one of the questions is what books and podcast do you read and he said on the podcast front i really enjoyed listening to my first million which breaks down unique ways that business owners are using unique ways business owners are generating massive profits that's how i thought out about about this guys because he said he listens to us as his only podcast nice that's great who told you that they're listening i don't wanna say her name but you know someone cool that's cool that's always funny when people listen dude i was with my dad when i took i took my parents to europe and i brought my parents to this conference and my parents are like you know in their sixties from missouri and they were walking around this conference and they were like oh we love swag they call it sc i think it's like i think it it's supposed to be swag they go we love swag which means free stuff and they're were like oh let's go to this company get this and it's like some like european sales marketing company i'm like you know dad like no one gives a shit about like you know sales dot io o like i don't know what why do yeah yeah he was like he's like let's go talk to him i'm like dude i don't like you don't even know what that means i can tell you what they go what do they do i'm like i can use words to explain it but you won't understand and so he's well let's go get to swag they're give it away like free bouncy ball bouncy balls like sharma but yeah and he's like he's like let's go get a ball we're gonna pick it back for for the kids what they're grandkids kids they go let's go like oh they have envelope openers like let's who kids one for the kids oh they got candy i'm mom this is a snickers like you could this is awesome he's just gonna give it to you in the hotel he's like hey kid i got you the bouncing and you're gonna be like sweet well and they're b like they're b like kinder chocolate you know like kinder like the eggs i'm like you guys realize that you can get that at seven eleven down the street from your house like this isn't special and they're just grabbing all this stuff and they brought an empty suitcase because they knew they're were gonna find swag it just a pile so like she comes home i come home on my four old deaf nephew is like wearing a t shirt that says like hi we're here to help with customer solutions like it is and it's like and the kids are bragging then the got that from europe i'm like oh my god do it yeah it's european it's european fashion yeah they're like what's this brand gideon it's just it's just yeah they're just like crazy i then they're at this conference and they're like they're talking to people and they go to people i hear like i would i was hard for you stand next time him and i hear i'm talking to people and they go hey do you like podcasts and then just the dueling podcast do do you love podcasts and they be like yeah you know what i listen he goes my dad call and goes sam he says he listens eight podcast podcasts i'll tell him to listen to yours what's name of it again and i'm like dad like how do you you know know you don't know the dave it's called it's called my first one he goes oh okay i'll tell him hey so it's called my first million and then it'll come back and goes hey i got you another listener i've made a click subscribe and and he's just going out to people say like you like podcast podcasts great i got you i'll get i'm gonna get have you subscribe eddie he and he doesn't know the name of the podcast every single time he goes what's it called a million dollar podcast it's he's like i love to do it all the time it's my favorite but what's it called again my mom does the same thing dude she clicks every ad in my newsletter she's like i clicked your ads today to help you i'm like mom i don't know it's not an account it's not gonna do anything she's like no no you said you get paid if they click right i'm like well kind of it you know you gotta go buy the thing and then she's like i'm not gonna buy it i'm like yeah you also don't need to click it in fact you don't even need to read it i don't think get this subject well that's hilarious that is so funny got it so funny you should've have seen them walking around just like putt around this conference like saying like oh sammy come at let's look at this booth and it's just i don't even know what it is like i don't even know what it is you know what i mean and it's like procurement i'm like i don't i don't even know what that means that neither to you you definitely don't know what that means so dude that so funny you said procurement so so rom who runs like i i he's my basically my partner and my fund and means he got this company that's like of kind of like a old school football company in based out of like georgia right yeah so he lives in georgia so he's like in the tech but he kinda lives in georgia runs kind of like a bit of a old school more more service based company that like i think her his wife's that or something started and he like took it over and like grew at a bunch and is doing great with it so i think the business does like fifty million a year or something that's like it sizable business and so i've asked them i think no less than fifteen times like so y y so what is your business do again and be like yeah we do procurement for for smb and for whatever enterprise companies i'm like like you get off the supplies you my head around what procurement is and he's like he's like you know what the word procurement means right am yeah he's like so it's that and i'm like but this i guess i don't know what the word means then because i still know that like feel like does does anyone use staples anymore like i don't yeah and it's like he's like he's like it's not office supplies it's like you know you need a vendor for something but i was like so then why wouldn't you just google and get the vendor he's like yeah but like bigger companies they just do it differently they need like this middleman man who's gonna basically like help them get the things that they need i don't like you get someone that it's like yeah is it like someone who just like knows all the people who do blank and they just it these vendors i think i still fucking don't know dude you i'm on expedition number seventeen in fact i just feel bad now every time i i ask him more i try to tell somebody else what he does because i'm like i i clearly don't know it's almost like i you know like there's like a spot in my brain where there's just like if you did a a scan it would just be like oh there's some dark cloud here to yeah that's the part of my brain that's trying to understand procurement and it's just never happening it's is like a a fuzzy region so i've got a story related to this so two days ago saturday and night i i went out to dinner out at like the fan a fancy place in saint louis and we get the dinner and my dad goes or alright our yeah my dad goes hey the the president of nascar i guess nascar like performed or race where you call yesterday sunday in saint louis and think it was my dad likes nascar he goes that's the president of nascar like jim na answer i don't forget his same and and yeah put pretty good it was nancy something not jim nancy yeah that your and he and i was like oh yeah you know he's sitting with this guy named david stewart he's like the second richest black man in the world and that like and it's like it's pretty funny i'm like i knew exactly who that rich guy was because he's he's worth like four or five billion dollars and and i start researching him and was like yeah i've seen that guy before i've seen him one articles because he's like the second or third richest black man and he's from saint louis he's like the richest guy saint louis and he's got this company called the worldwide systems you've never heard of that have you no so it does fourteen billion dollars a year and it's like the fourth or eighth like in the top ten largest privately held companies in the world and him and his partner just own own the whole thing outright and what they do is they're a systems integrator and that's one of those words like procurement i heard that and i'm like what does that mean and so i had went on this deep dive i'm like i gotta figure out exactly what they do i i i don't understand this and then like it it says they're a cisco systems integrator and i went to cisco website and i'm like what a cisco yeah i'm like i they're like networking hardware networking or like networking hardware and i like read those words and like the website would just be like networking redefined and you're like i yeah i didn't know the first definition now it's free yeah but wait i didn't how change that definition and then like they talk about like switches and stuff and i'm like i don't know what like a is i guess i has to do electronics like i just i didn't have have any idea what this stuff did and but i google it and like i i know that cisco is like one of the largest companies in the world but i'm just i like i don't know what it is so i had a research it it took me forever to figure out what a systems integrator is you know what it is do dude know i don't know what any i don't know what it this i don't know what sap does i've been on a mission olson i don't long long ass time and they're european though they got a different word for everything we'd never be able to figure that i feel like sometimes i'm watching tv and it'll just pop up sap and i think it means like closed captioning or spanish or something like that i'm like this is different numb i'm super confused about sap yeah but i don't even know why they need their company after their stock ticker out it it's kinda weird but they so so a systems integrator basically so what my father law does for a living is if you're like yeah chase and you've have a hundred employees working on floor eighteen and you're like hey gotta move these hundred employees up the floor forty three in the same building he studies it for a few weeks and then you go to home for work on friday and you come back on the floor at forty seven and you sit down at your desk that's already set up and everything just works there's no downtime and i think system integrator kinda do that but like if you're twenty billion dollar company and you're selling like a three billion dollar division to this other thing like they have to go to work one day and like all their computers are new or like this new setup exists or if you're like a a hospital and you're like we need an app it's like it's not as simple it's just like check it into your lobby saying you're there like you gotta like integrate all this crap into it and i think that's what they do but i don't know why they don't just call it like an agency you know what i mean so yeah i i don't know either but i i do know like you know i guess like jokes aside you know there's basically things that are like you know nets sweet nets suites another one of these where like don't know what what is nets sweet is that like quickbooks but different it's basically like i i mean i'll butcher the thing but like i mean people use it for like inventory management for example so it's basically like a database that's like usable for like it's usable in a couple of different ways it tells you what you got it tells you what's like running out it tells you what you need it'll tell you kind of like it'll help generate a purchase order it'll do things like that by the way if you go to nets week's website i just went to it it says complete procure to pay purchasing no procurement it has to do with this too but basically there's there's entire companies i think this is what you know like the keyword word what deloitte and other other consulting companies do a lot of which is basically they teach your company like these cup these businesses there these programs are so uni intuitive that there's entire consulting businesses that generate billions of dollars a year that just go to a company like oh like right here on their website loves sac uses them so it's like you go to loves sack like great you guys sell giant bean bags they're yeah like you know those things are getting a little out of hands get a little willy nilly now that it's growing so much like yeah it is sure is don't you wish there was just a way to have everything organized in one place and a system that just all talk to each and one of your employees can log in and interface with it they're like that sounds pretty good so i i just go set it up on my own i just go to the website and they're like no no we do that for you it takes twelve months and we will we will add nets suite to your thing we will add oracle we'll add these different services to your we will we will integrate them into your current business and we'll train your employees on how to actually use it is that what service revenue in a saas line so if you go to like atlas and look at their annual report there's a huge amount of services revenue so do they charge a i don't know what the or how they what what they bucket and services i would've have thought like does that mean just the software but i i i think it's different for different companies but at the same time this is sort of like if you were like hey sean you know what does it mean to blanc of vegetable i'd be like you know i think it uses hot and cold water in some way it's like you know like i just don't know right like even when you're ask me about like what are these like giant enterprise companies that are like b2b service slash software companies like these are like again i don't know the first thing about the first thing about it the the craziest thing to me is when i think about these is to understand how someone came up with this idea so for example there's o do you know o that's what we use for like logging of like websites and shit like that or there's what's that one snowflake you know snowflake yeah like a data so i like those are all companies that are founded relatively recently like in the two thousand five two thousand fifteen era and i'm like how did a person know that this was a problem and had to get billed you know what i mean you're just working in a big company right like okay so for example we were talking of the other day about what was it called the or like like we have like you you were a chimp for companies yeah makes exactly what was the name of it again i i can't remember they off top of my head i just committed to invest into it but but basically we're when we ran a company or like you ran a i'm you know like email based company and so if i asked you you know like what does convertkit do you're like if you're very well versed on like what convertkit does because you're like well like here's a scenario get a bunch of people come to your website but you you know you wanna grab their email because you're gonna be able to market to them later you so convertkit kit lets you put up a little web page it grabs their email and then once you have it you wanna be able to like tag them or segment them based on like if they've paid for your thing or if they're free and then like wouldn't it be cool instead of like waking up every day of like writing the same email over and over again you could like automate in a a sequence of emails one that goes out on day one one goes out on day three one goes out on day ten and it's like you saw a problem in your business and therefore you know you kind of understand what the solutions are and you can even create them well there's another one that's like like you know that this is basically what happens when you're when you work inside of a large company you're like oh man there needs to be of solution for x you just see a problem and you're like there needs to be a solution x if you understand that context because it's like the like we spent basically fifteen years just starting companies from scratch you started media companies i started more like software social networking type of companies and we've done content a bunch so we can tell you all about content like we just don't have that that same frame of reference to that like somebody who's been like you know somebody who's uses salesforce every single day for like ten years then they understand why you need this like salesforce add on which app oh all the time i'm like damn i wish i knew how to do this stuff that people charge a million dollars a year in subscription revenue i'm like damn i just gotta talk to some stupid freaking guy about starting a newsletter or give the same spiel constantly i don't wanna talk about to get your first thousand subscribers on i'd subs stack you know i'd rather get paid like a million dollars a year to do x y and z and get you know get a hundred thousand customers yeah i mean exactly and this is why like when i was at twitch when we got acquired i had like how i had wrote down i'm gonna walk out of here with like ten ideas and i i'd use that import export framework which is like what are five ideas that twitch would import a solution for like we need something like a country need something they import it later like the us needs oil we imported it from at whatever iraq or whatever if afghanistan wherever it needs to come from saudi arabia and so in the same way companies have these pain points and you're like when you're sitting there you're like oh damn if somebody had us if somebody had a magic way to do this the we would pay hundred thousand dollars a month for this you know we would pay x dollars for this like for example when i was there i i i talked about the idea way back in the day but like all hands it's like at our company you know if i needed to say something to the whole company as a startup up i would just like literally fucking stand up at my desk and be like hey hey y headphones we're doing this now the company we've pivoted to this okay good or like you know we're we'd be out lunch and i'd just like stand up and say something but like at a company like twitch two thousand people you know there was like this organized every thursday there's an all hands it happens at lunch they do it at lunch because that's where they've like a captive audience of people that actually sit there and pay attention because they're eating and like and they would do the thing and it had like a presentation and there was like a whole there's was like a conductor of the whole ceremony and then there's like a q and a and they needed like this question and answer thing then they needed to stream it to remote employees it was like all these things that had to think about and we were just stitching together like these four different tools like we use this for the q and a we use this for streaming we use this for the presentation we use this for new employees whatever and i was like oh if somebody just made like a really good like all hands software i'm pretty sure you could get a company like twitch to pay like twenty five to fifty thousand dollars a year for your software and it would need to be secure it would need to be you know easy to stream on your phone it would need to have q and a integrated like etcetera etcetera and i believe that to be true and like i could've go validate that but i could've have just gone and talked to like you know the head of the all in the the all hands thing and be like hey if this existed would you buy this and like i saw that problem because i was there before that i didn't even see that problem yeah and we had talked about it it was like a high school newspaper but for your company yeah and by the way workshop is the name it came to me now so with the url use workshop dot com so it's pretty sick where talked to us before four which is in insight like we all have like mailchimp or you have like send you have a ton of different services to send mass marketing emails to customers but like there's actually internal marketing too that happens all the time like a company is like a small like you know tribe and like you constantly need like information and sort of propaganda from the top that needs to get to your employees and whether it's like hey remember this friday we're doing casual friday like you know whatever don't wear underwear this friday but you have to like get some message across about like what's going on or it's like hey we had these wins in the company like congrats to this team for launching this safety feature that saved us whatever and so what use workshop does is basically creates like a little mailchimp for inside your company so let you do list they want but did they launched this because of our podcast or they already not i think they were already working on it and we just got connected from we got connected when they were they're they were doing somebody pointed it out to me they're like hey these guys are doing almost exactly what you're talking about i reached out and they're like and guy was awesome he's like yeah we had this past company that was successful we kind of like you know like this is our second we got the team back together to do this and then it's like it's working hey we just signed this client this client this like big name big name big name this showed be the chart of revenue and i was like oh this is like so spot on like i i really think they that a tool like this is gonna exist and it's gonna work yeah this is sick and like the design is really good like if you go to the design of the page it's like just like clearly these people are good at like they're good at simple products and that's kind of all you need to do to be able to build something like this it's like yeah nice clean simple easy to use and they have the use cases so for employee engagement for a change of management company alignment hybrid work mergers and acquisitions internal marketing it's pretty sick measuring performance yeah this is awesome and like you you send these emails out normally in but you don't have the open rate you don't have the open tracking you don't know who's actually engaged who's not in your company emails you don't know how you you can't test the subject line difference and be like oh this one got way more people to respond to the engagement survey or whatever we sent out and so it lets their internal comm team like do their job better they didn't really have a tool before this i can find this client in pull have you heard of hubspot hubspot is a crm platform so it shares its data across every application every team can stay aligned no out of sync spreadsheets are doing databases hubspot grow better are you angel investing actively right now yeah you used to stop be right are you like took a break i well i've taken a break because a the markets and b because i'm working on this i got my i i could talk about a little but i got like twenty customers for already for my new project oh guys okay let's talk about this let's do the angel investing thing first though so i heard something interesting like my initial reaction was to do what you're doing which was like i don't know the world's crazy i lost a bunch of money every everywhere i look prices are going down like you know a stocks are going down crypto going down everything's going down maybe i should just bunker down for the season and just like you know chill out a little bit with investing in these like high risk ill liquid startups but at the same time then i heard somebody say something i i think it was somebody on all in on the podcast that one of their guests he had said something he was like he's like actually they're like are you slowing down and he was like no this is the time to speed up he goes you know the last few years i was like getting pretty worried and i thought like maybe it's time to slow down because valuations we're getting really high there's just everybody's there's too much capital flowing around everybody's just throwing money at everything there's really you know when you would do a deal it'd be like you wouldn't be able to get all the information you need it's like hey dude we're closing like you're either in or you're out you don't have time to do like certain level of diligence he's like i actually think that those like of vintage of companies right like you know like a like a vintage of wine like the nineteen eighty five bordeaux was so good it's like basically that happens in start up investing too where like certain vintage turn out really good certain or kind of dry they don't have any big winners if you look basically after every kind of like market crash or recession is like those next three years or some of the best vintage for startups and so like this happened after that's kind of two thousand two thousand one crash and like the next vintage that came out was like had linkedin had facebook had like you a bunch of large companies i agree with that but like the valuations maybe it could've it's like it feels like it's changing week by week but like two weeks ago when i was looking a few deals the valuations are still quite high yeah i i think they are coming down and they're coming down week by bi week you're absolutely right and i you know you you could be disciplined on that where you're just like oh you haven't gotten the memo that like you know what used to be fifty million is now twenty two million and what used to be twenty million is now eight like you you needed to get that memo and some people just haven't got that memo yet but like a lot of that i'm i'm i'm waiting like that amount like just a few more weeks maybe until so that's what when i say wait that's what i mean because we were talking to people and they weren't budgeting and i was like well alright well wait right and now i'm getting emails from some like portfolio companies and they're like you could see their cash balance and how much money they have left and it's like damn man i think there actually might be like a lot of things going out of business in six months i i i think they're absolutely will be i mean i'm getting a ton of hey we just raised this extra money like a lot of smart founders basically are are like taking the bag while it's available just to give themselves buffer because like who knows how much worse it's gonna get and but the value start to be down so i actually think that like this this year next year the next basically two to two and a half years are gonna be like kind of an awesome vintage of startups to be investing in because you're getting all the you know like none of the big trends have changed like the world just getting more tech enabled tech is just going into more morning industries size of the price is getting bigger there's more and more people coming online machine learning all that stuff's making stuff better like oh that's still true it's just that the price has got cut in half so what's it's like okay i'm i'm i'm on board i'm just like wait i'm just think that like there's there's so far been like this two three week period where it's like there's a discrepancy that'll get fixed i think in like two three four five six weeks yeah you know i i think that's gonna happen pretty pretty soon should we talk about your your thing you wanna do it devoted it alright well we could we could yeah i don't wanna do voter thing because i'm not gonna announce what it is entirely yet so yeah but we can kinda talk about it but basically like i'm kinda going back to my roots i'm launching this new thing i'm not even saying i'm launching it i'm more so like launching enough of it to prove or dis prove if it's a good idea okay and i've gotten like i forget exact like tens of thousands in revenue in the first two weeks amazing and and i didn't tweet about it once so so tell me this tell me what are you doing differently this time around than you did so last time you started this rodeo was maybe six years ago something like that yeah yeah and so now with you did the whole hustle chapter or do you get acquired to go to hubspot you see a bunch of things you meet a bunch of people you get smarter wiser all that stuff you got some hair on your chest now and so it's like what's what did you decide like alright this time i'm doing these things differently or was on early on i was like against outsourcing or hiring anyone overseas or hiring like cheap labor or hourly labor and i was like no i wanna create jobs and i wanna like do salary position with benefits and now i'm not doing that eventually maybe we'll add some people like that but now it's like just how do i automate this and how do i like it someone overseas just to do this like a machine and i just don't really care if i don't have any employees and i wanna and i i'd prefer being alone so that's the big difference the second difference is well the the same similarities is i'm doing it all by hand and this is totally the right move and i stand by that so before i wrote everything i sold the first ads i did it all this time i'm doing the same thing so i'm literally doing the cold emailing i'm getting them on the phone i'm doing the sales i'm listening to them i'm doing that constantly and getting those reps in is actually really impactful and you could actually like see what's happening but i by the way i got that revenue zero percent of the revenue has come through our website it's all been from colby emailing people on linkedin and getting them on the phone and then just sending them a stripe account amazing what what else what else is different about your mindset i bet there's more way more confident for sure there is still a sense of urgency so like wanting to move fast and like i have to get this done i have to do this but more so like i have to get this done but also remember like i may do this for like twenty years right so like having this longer term this longer horizon what i learned with my business we sold around year five and the truth is most the value created between year five and year six was more probably than the value of zero to five mh combined right and i was i wasn't impatient because i'm happy i did what i did because it unlocked a lot for my life but had i not i said this a bunch of times if i was already wealthy i would never have sold because real value seems like it comes like now i've only experienced a a business from like around your five but it seems like maybe there's something that happens to year five just six for values created and then who knows maybe someone who's owned a company for years is like man twenty and thirties is when like shit magic really so i don't know but i do think like year five if you bootstrap is around the time where you you're like alright i recruited some actually good people i've got people do help and everything but like i don't know do you agree with like year five or six or seven is where some crazy stuff happens i think it's just i think it's just generally true right like you you plant seeds and they you water them and you water them and you you look at it and you're trying not to just go dig up the dirt like why the fuck aren't you growing but like at some point those things do start grow like we're seeing this with our e commerce business too which was my buddy had told me that he goes goes there's this magic moment in commerce where you've you've brute forced enough of the like building your brand and getting cut getting new people to try you where every month your returning customers just come back because they love your product and you don't have to remark it you don't have to spend money remarketing right and then the business goes from like this giant cash suck to this giant cash cow if you do it right and and i was and we just started to hit a tipping point like that where you could and it's not every month but there's some months where i'm like whoa what just happened and it's like oh yeah that's that's what's happening like we actually just last year we brute force and got a bunch of people to love our product and then they came back and bought and this like a bunch of them came back and bought this month to where outweighed all of the new investments that we're making like wow that's nice or like at twitch we were always doing these like planning exercises about like you know these profitability targets i can't say too much but like basically profitability targets and i think emmett had said something he was like yeah we from the like he's like pretty early on we modeled it out and it was like it's gonna take like ten years probably and this and he said a a huge number he's like x billion in revenue for us to you know break and i was like that's just a crazy idea that that's it's like we need to get to x billion in revenue for this to be profitable and like the but it like that's exact you know that's the that's what actually how playing out yeah that's like well like i even really like amazon i think had sort of had a semi similar story amazon i think for fifteen years or something like that was like unprofitable on on the whole but the difference in amazon was like the individual divisions were getting very profitable after like over repeat like a reliable like i don't know what's call it four year cycles like books got super profitable but by the time books was getting profitable they were investing heavily in cds and music and these other things and so then the the total always looked unprofitable but they knew internally this is just a clock that goes you know every x it's gonna take four years or whatever it is to this unit to get profitable and once they're all profitable this thing's is gonna be like unbelievable which is where it's at now trusting that process is really hard particularly for first time entrepreneurs with bezos and emmett emit or i guess you know after like ten years is like well i'm not exactly a first time found anymore but you know what i mean i'll say the the way i'm saying the twitch one right now sounds a bit like a master plan like i'm i could see this coming and i'll oh whatever it's like no it was more like oh shit we got users oh fuck the costs are really high if we raise money okay what do we gotta tell these guys what do you gotta tell these investors or how they're gonna get their money back maybe this business model will work and maybe on this timeline and then like we update that information every two years and like i think you i think which i like i thing where was like we're gonna be profitable in three years and they've been saying that for the last six you know like this is like been a thing and that that's very common actually for businesses right so like yeah like entrepreneurs generally pretty optimistic elon has been saying self driving cars will come out this year for four years like you know it's like entrepreneurs are are usually right about the the actual assessment and they're wrong about the timeline or alright some of people somebody gave me this great phrase they go don't confuse a clear view for a short distance imagine you're driving you see something kill so clearly but it's like it looks like it's just right there right just right around the corner and like actually that corner is like a ten year odyssey that felt like oh it's gotta be just two or three years away the last big thing that's different between now and then you know having some experience versus no experience is the ability to say no and be like oh well you're saying you don't want this product therefore i guess i should change it it's like oh okay well that's okay if you don't want you're actually not who we're going for i i so you you you didn't you didn't my takeaway from this is not you that my product is not good and people don't want it it's just that i just i i now i know i shouldn't target people like you and said i should only target people like this other person right and that's like the the a huge thing where it's like the vision is that we are going to be this for this people eventually maybe it can expand beyond that but for a while this is what we are and this is who we are for and if you don't talk to people who you think you are for then it's okay that's just that they're not the right target market and i just target to that customer poorly but you should only like you know be one thing for one type of person and you go deep on that and i'll oftentimes people will be like but that's not that big but a sometimes it is that big and b it's like it that's okay you just gotta like get that initial traction and then more opportunity spots itself but you have to be this one thing for this one person and ignore everyone else so my sister has a business i don't have i told you about her like cloud kids thing well i know she's a babysitter a little that's not actually accurate but like day right well was it was i guess it was kinda like an in home day that became like a preschool and became like outdoor preschool whatever it it kind of evolved yeah by way sorry i didn't me to call that babysitting she would punched me in the face and i knew that wasn't the right i knew it was a babysitting i was like i called i was about to say day care so yeah that's okay that that's that's it right so but during covid she pivoted to like an online thing like a lot of businesses went from like oh shit brick and mortar is really hard right now because they're like you know every month the government is changing the rules on what we can and if we can and can't operate our business so she created this thing called cloud kids so if you go to cloud kids with a z i think it's preschool school dot com let me see if that's it yeah cloud kids with a z preschool school dot com so go to that website real quick and just look at this i actually think she's done a pretty good job with the cloud kids it's cloud kids will cloud kid i'll just put the link here cloud kids with a z preschool dot com so check this out so this is like helping her with this has been pretty fun because she like she built this in like wix i'm like oh wix looks great who's using wix and then and i was like alright you need to add like change the headline you need to add like a video the video needs to me not like a full on video like make it look like a teacher or teaching something like oh dude this looks the basic exactly so now it's really good it used to be like you know get info now it's like free trial right like just optimizing the landing page with her like headline sub headline button hero image you know reasons to it reasons to buy all that stuff like and then she's like working with people and like five and up upwork work to like do these designs it's like it's actually turned up pretty good and so she created this thing which is basically like these small group classes like let's say you have your kid at home either because they're just like my my like my daughter she's too young to go to school right now and we don't wanna send her to full time preschool but like we wanted to like learn something every day and it's kinda takes a shit ton of energy to sit there and be like the engaging patient parent and like keep your kids attention and be like i'll teach you like how to write the letter w today like but like with this i'm like i sit it down in front of the computer i get the materials in front of her with paper and crayon on and like the teacher is like so good they'll be like alright you know like hi high five let's sing our welcome song and then they like do all the things it's except for one hour she get it's like screen time without the guilt it's like the the she gets engaged like it's cartoons but it's not cartoons because she's actually like learning stuff and getting better and so she created this service and it's like i was dude is actually a pretty good product and she she's hired these teachers and the teachers like like in florida different places like that so so then she was that she calls me she's like i'm just like struggling so much with the growth and so i like i was like alright well tell me what like she's like just it's not working i it what were the numbers and so she gives her the numbers and she's basically like i was like okay so let's draw the funnel and she's like what's the funnel i'm like alright just imagine like at the top you know you're getting leads like people who come to your website and then some them give you your email some them time for free trial some them actually show up and then some of them become a fully paid customer so we drew that funnel out as like oh actually this conversion is kind of awesome like why do you and then and i was like so what's your cost per is that really hides it's like no it's like not high at all and this is with like you know this like fifty dollar a day a hundred dollar day ad budget like it's just like i don't even know how to do facebook ads i just put in like you know a hundred and i just wanted to see what would happen and like i was like wow this is actually like this business is kind of amazing so you pay back your customer in less than a month she's like i don't know if you say so i'm like yeah like that's what your number say you basically pay back before your ads bill is even due that's like the the ultimate like thing you want where the ads driven business is like to to get the revenue from a customer profit before you even pay your credit card bill and and to get the listener context so it prices range from forty dollars a week to so you could alright i understand so you can get classes one day two day three day four day a week they it all ranges from like a hundred and sixty dollars a month to four hundred dollars a month yeah and you get it's basically it's a the the tagline line is actually quite good it although the website needs a little like i clicked on the faqs and it goes to privacy policy but that's alright live online preschool classes the number one live preschool program from home we per this is a beautiful line we provide the curriculum teachers and friends right it's a that that's great and then there's a video who is this like this woman who works for her yeah have a white sister yeah just and is great i'm all about this this is beautiful by the way the art is actually really good yeah i think it's it's pretty good right and so so this and so then the the reason i bring this up is is because you were talking about handling a no handling an objection and what i learned when i was like i diving and i was like your funnel is not broken your website is good your service your retention is amazing i was like even your ad like ro ads your payback period is also amazing i like when you're you talking about this thing's and she's like well i mean like i talked to like you know so many people they all just you know they don't come back for the from the free trial i'm like but you're converting twenty percent or something like that took from free to pay that's like yeah best on the she's like yeah but like i talked to eight moms that were like you know we can't do it for this for this reason and i was like yeah but eight out of ten is eight out of ten those that means two out of ten yes that's a twenty percent conversion that's again amazing and the numbers back out or this business is like an awesome business and i think the in the site what will happen was the psychology because i i told her i was hey if you wanna close more people call everybody who just did your free trial and see if they'll debate and be like hey i'm i'm the owner of the school how did you like it so glad you know i i saw it dropped in on the class i saw she was doing great like do you think you wanna continue and like does you wanna do more classes and like oh payments a problem like we can help you with the payment plan because a lot of the people who are doing this they're like detroit inner inter city like there's a lot of people that are basically like hey i can't pay for full time care taking i can't pay for even full school or like in detroit for example shit what what i learned through this was in detroit the public schools are full so you just can't send your kid do you believe that so people are like six years old and they're like yeah the schools full and i can't afford private school like i've never heard public school could be full and like that's what's going on in detroit right now is this is this your sister just like move over sean there's a new there's a new big like a d at the house well the funny thing is she's she's got a better product in business than i have in any of my businesses in terms all the core metrics are stronger than all of mine the product offering the retention stronger than anything the problem is not a problem actually the she doesn't want to like she's not trying to do world she's like no this would be great if we got to like fifty students and like well then you will want a hundred right it's like no because that'll be a way more work like i at fifty i already have these great teachers i can handle fifty i just wanna fill up my occupancy and like she truly is like well because i do that and then i can go work out in the middle of the day and like i just want my out i can go to my daughter's stay sean you know she has something that you'll never no oh no the were enough yeah she she does have enough my i i went through i went with my mother she's like hey sam can i drive you to the airport was like why she goes well it's two hours to get there i need you to explain to me how online commerce works because i wanna start a store and this was two or three years ago and i like did the ryan and i told how to use a store now she's got a business doing like half a million a year and i was like so why don't you scale this don't you do this once do this you could be like always like you could be like the black martha stewart like crushed this it's she's like but i like taking tuesdays and thursdays off and i was like oh i alright right but if you made more then you could take tuesdays and thursday off she's like i could do that right now right it's so yeah it's the same exact thing that i'm like but but but but but and this stuff finish the point on the the rejection thing what i learned was when she called people and eight people in a row said no it was like completely demo to her and she started question everything it's like am i going after the wrong market do i have the wrong product if i have i price too high am i this am i that and i think it's really important to be able to back out numbers i've seen the same mistake on fundraising all the time so it sounds kinda silly when it's like oh my sister's a little preschool oh you know she just twenty percent conversion right obviously that's good like even if it was ten percent it would still be great like it still work like oh that's so silly you know she got demo by by hearing you know eight nose in a row you know on on a monday morning and or or not even hearing those just not hearing back from people i'm like yeah yeah but then i talked to founders and they're like dude raising money so hard i need to change this change that can you you help me with my pitch i'm like how many investors did you pitch to and they're like we yeah we talked to like you know these four last week i'm like four and i'm like you know this is a numbers again this is a sales funnel and you need you you were selling your equity in your business in exchange for money and like like what you're doing is you're getting highly emotional and you're taking it highly personal that somebody doesn't wanna fund your business and like in reality yes you should be learning from like how to pitch better and like you may maybe maybe in the end you will strike out but you don't even know that yet you haven't hit enough people dude what a lot of people realize is that like one to three percent conversion rate is like normal which kinda means that like maybe you'll go o for twenty nine and on the t one you get a one and that's like boom you know you're now you're one for three or you're you're you're that's a three percent conversion rate you're good yeah or maybe on your yeah ninety ninth one the tenth one boom one percent of a hundred that's good that's why always joke with ben i'm like mormons are probably the best sales because convincing someone to join a religion it has like the lowest conversion rate ever and then you hear that like you could sell salesforce and that has a two percent conversion rate and you're like peace god this is this is the easiest thing ever versus commissioner moral and how many like i i i don't know like if that's actually what you did where you tried to get people to like quit whatever religion they were in and join your crew right but how many people do you think who were like either atheist or in another team and they just said yeah cool i'll join your thing how many people what what's the what was your percentage rate so let's see i have did you convert anyone yeah i converted low thirties i'd have to look thirty two people on my mission so i was two years and oh man how many doors do i think i knocked on in in that time i i mean it it was a couple hundred or thousand it was hundreds of doors a day across to every every single day for two years right so you're knocked done a hundred doors a day easily easily a hundred doors a day what country brought on we're doing some public math this deserves it let's say well you well yeah while you do it let me ask a question what i was in el paso texas far speaking spanish so if you did a hundred fifty doors a day which you're saying easily is is estimate every single day three hundred sixty five days two years you knocked on a hundred and nine thousand doors you you did a hundred and nine three thousand thirty thirty and you did thirty two at a hundred and nine so that's point oh point o two percent or point o o two percent something like that some something that's like yeah fraction fractions of a percent dude it and how about the fact that your friend all going these cool places in africa or south america and they sent you to albert so yeah but i mean what you know yeah my brother went to prague my sister went to moscow but we had we had what's name austin from lambda school which is now bloomberg tech here with a rush russia he was in russia or somebody that he said he converted zero or one he was like oh because we'd had asked what would be good he's like one would have been great yeah after where i was right that's the trade off you make is that like yeah my brother and sister were in much cooler places in eastern europe but like eastern europe is hard man like really hard but i thought like so i guess you're dealing with mostly mexicans or some type of hispanic yeah all of they're they're they're the most hardcore catholics there are they they were they're willing be so you what you gotta realize though el paso is like very transit a lot of people just got there from from mexico and so it's like well i'm not really going to my church i used to go to maybe i'm looking for something new like my wife is already changing i'm open to to something new can you know facebook has a similar feature it's called recently moved and those are great people to target it's true dude recently moved is an awesome group of people to target because they're changing their life yeah yeah exactly if you have like a weight loss thing ben can you give me the like speed version of what is the pitch so you're not you literally physically knock on a door i open up what happens yeah so essentially what we're taught to do is no just like do it man in spanish yeah do it to me do it to me it no ob blowing you gotta get you guys gotta you gotta bear with me it's been okay so i'm i'm i'm thirty four and thirteen years you do a hundred thousand times do you know this like yeah your so you know i'd say hi how are you my name is el wilson this is i got my companion with me this is elder lopez how are you today you know just whatever hi good i'm doing great nice to meet gosh how gosh i'm sorry hold let me think what do you want okay give you a second look kick what do it i can get into it but like how would i first first start that's what i'm trying to think of how many times did people tell you to f off i couldn't be good to tell you i mean more often than that they train you or you just sort figure out how to sell you go to well so you got a three weeks of training if you're speaking english if you're learning a language it depends on how difficult languages i got six weeks of training i think do you carry mace no no weapon no nothing in like a whistle you have a whistle no i i think maybe the the the women it might be up to their own discretion maybe they do some stuff like that i have a friend who got stabbed using honduras like a good buddy of mine got stabbed on his mission good i guess i just be put him lethal and weapon yeah trying to i think about how i you know yeah you know start off with just like you know we're we're missionaries from the church that jesus guys lot saints and you you start off by asking them questions like do you believe in god or do are you someone who who believes in god yeah oh you know like well what what do you believe about do you go to a church yeah i go to a church and so you start with kind of relating to them about their faith and then you say well you know our message is that you know you said you believe in jesus christ we also believe in jesus christ from the church of jesus christ latter saints and what we believe is that the same christ the same church that christ established when he was on the earth two thousand years ago was lost for a period of time and and so no one had the complete truth but that it's been restored and that exact same church and so that's why we're out here trying to to talk to people if you knew that was true that christ church was was back on there the same one that he established that something that would be interesting to you yeah oh my gosh this is awesome the wolf sales call the wolf photo of yeah the village love this is great good dude that's fascinating man i feel like by the way you know whoever runs the budget at the you know the mormon church me and sam are available for consultation if you need some some you know tips on how to brush up that that opening script i think maybe that there's first few lines maybe we could give you some other hooks maybe some other some other other ways in because also like have you seen the trends on tiktok where it's like a baby or something like running away and they overlay audio that says excuse man can i talk can i talk you about the lord i you know can i talk you about the lord man have you anybody church man can where are you going can can we please talk it's like always like some funny running away you guys should pounce on that man would it be valid to do your mission through tiktok if you're were like i'm gonna make amazing tiktok videos that go viral and self spread our mission like could you do that is that like or it has to be door knocking well no so during covid a lot of missions kinda went to social media essentially now you gotta realize that like your mission is like a it's in right of passage really like for two years when i was nineteen twenty one years old i didn't have any contact with my family except for i wrote them an email once a week and then i got to call home on christmas and month and mother's day that was it so like completely separated for my past life like doing this extremely hard thing and so during covid missionaries did like start doing like social media missions because they couldn't go to people's stores and talk to them but my impression was like man that sounds like it sucks like you missed out on the right of passage like i wouldn't wanna do that for two years like that doesn't sound fun just exploring yourself losing your virgin opportunity going to parties good converting people with like like moe shit baby is that yeah you're you're saying you're saying man that sounds like it's sucks i wouldn't wanna do that and like when you describe like not seeing your family and like you know having to like whatever you said like you know doing to the thing like if you're going to wash your needs every night or whatever like you want it to be hard you want it to be like this like life changing difficult crazy thing that you do with your life not like sitting behind behind a computer for two years that's the difference in between performance and and gentile like us yeah exactly there's a bunch of heat that dude i spend my whole life avoiding hardship like what well i would be in the military or like in the mormon church or whatever like if i if i really wanted to lean in to like difficulty i i spent my life running away from difficulty we we are not the same yeah we are not the same i yeah then it it is like a big cultural thing it's hard to explain how excited i was for this again of two years oh my god well that's why you're you know are gonna be probably more successful than both of us and happier and and happier yeah i mostly have a ton of respect for anybody who does that i also have even more respect for whoever was able to convince people to do this i think that is like one of the the greatest you know like greatest like organizations that that's been created like with such a strong pull that its members would take such a like large you know movement in and like to to support it like and they're obligated to convince ten other people to join i'm trying to get somebody to give me their email address for like two seconds and i'm like give you like to give you ten percent of their income they gotta give you ten percent of their income and go and recruit about fifty more people it's the greatest thing two years your life ten percent of your income all of your social capital and probably something else that i don't know about and we can't pay taxes either because we're giving it all the way well it's the it's the sweetest deal in the world it is it is a great deal ten percent is cheap on on want you get in return well oh wow amazing and you have to believe it's the greatest deal in the world i will send here even better wow amazing i even enjoyed this man i've never seen them i like i'm convinced now you're like do you guys want more so let me i'll i'll tell you this i do i do i to pay ten percent of of all my income i donate a ton of time it sucks all my time don't don't need to i gave two years i paid for two years to be on this mission okay i yeah i give up a lot but at the same time like if i move anywhere i show up in a new place i called the local congregation a bunch of dudes come help me unpack my boxes and move in i go to church i immediately have like a dozen friends people invite me over to dinner for the first few nights that i'm in this new city if i need if i need a job there's someone you know dedicated the congregation who will help me find a job if i'm ever like down on my luck and i need food the churches you guys live saints we'll provide you with food make sure i don't go hungry like you just described being a famous podcast also by the way sam just sam went on a road trip last year and was just like hey who wants me to drive their car if people were like here the hey he's like hey anybody hears his wife on a cook dinner and you give me a massage people are like honey honey this samson town maybe i maybe i am more than that for all exactly joke i mean i i i look like it maybe i am more maybe i should do a dna test jokes side and also i don't wanna have the raf god if he does exist against me so you know i think it is pretty awesome and also like i think people study like what makes people happy in the end i think the biggest always religious that's always part of it well i think the biggest one is is like quality times spent with people you care about which like is a combination of like family friends communities like spiritual community all that stuff and so what you're describing is basically like awesome meaningful relationships with people who like you know have like kind of an unconditional support of each other which is great and something that everybody would sign up for you know depending on you know what with the situation the cost i do think believe believers in a religion live longer than non believers and i also think they're happier i i was curious about that sean knows pitch for for why it's a great we need to send you on a mission i would love to go knock on a i will go love to go knock on a hundred door i i really wanna just do door sales just to see if i could do it and how it would do the the pitch needs to be excuse me man do you know what the average life expectancy of an atheists is now what if i were to tell you that mormon believers it's this would that interest you right we i don't know if if if the church would go for this but if they would we should do a youtube series where like we send sean with a couple missionaries like i hook you up with in the bay area and just go knock on like a hundred or two hundred doors with them and like see what is like offer your thoughts and then like give them some observations and tips from i would like to just go sell my own fake religion and just see what we could do that like how well i could do because you know i need i need that kind of fresh slate i'm more of an entrepreneur and not an entrepreneur if you know what i mean so i i gotta create something from scratch here and keep all those tax benefits to myself as well i've actually considered this many times about creating my own religion because i do have my own philosophy my own belief system i do share it with others and and it's a life operating and i don't like tax and i think that it's fantastic to to own a religion or two you're get own a church of of a religion so you know you you can be a guru like people expect that you know i know i mean when i had the longer here hair i was much better suited for this you know if like sam what would be your opening line like what where what direction would you take it like he was like hi i'm band if do you have a moment to talk about what if said exactly i would say excuse me ma'am i know this is so strange but i gotta ask you a quick question what would you say if i told you that the average life expectancy of an atheist seventy two but the average life expectancy of a mormon is eighty four which you wanna know why and i think they would say yeah i guess well as you see it's do you wanna see your grandkids someday yeah like well because when you believe in a religion it means this this this and this and it just so happens our religion but i i would sell them on the why it was good he started with you believe in god right because yeah can't get the losers out of the way well don't you got a separate it are you talking to an atheist or are you talking to somebody of another the religion because you can't you gotta know which way you're going there the other way is it you know you do the thing where you're like you know hey you know i was just at your neighbor's house and i thought i would pop by just so you're like i hate when i get in the neighborhood i would say with i was the johnson's across the street and you know i thought it stopped by because blah blah blah blah or like you know i i really just wanted to to chat with you for a minute do you do you believe in god no you know maybe go with something that's like i was just wondering have you seen this video hold up my phone of that tiktok of the baby be chased away and like i was just trying to like you stun them into not not like automatically rejecting me right like because it's like how do i get some curiosity which should be something like you know i'm going around there but i'm just asking you know do you go to church regularly and they're like oh yeah right awesome would you say you believe in god yeah i do believe in god you know where that start was that from your parents yeah my mom was super religious my mom too and then i like you know i tried to do something like that that's off the top of my head how i would try to like you know build rapport quickly as i get them to talk know pick the podcast like pac hey you give me give me a hundred thousand reps at this i think i'd be pretty good by the end yeah better than ben and having to think about it yeah ben's response made be thinking he matt he might not have gone on that mission after all hey sean at thirty two converts you've got zero so far so you gotta get on my level i just don't know how you forgot the script scripture set a thousand a hundred thousand times it sounds a little suspicious over a decades a long time john decades a long time alright i gotta go bath him talk to you all a little bit