Recapping the Mr Beast Joe Rogan Interview, The Billionaire Who Owns the Sports Jersey Market, Betting on Yourself, and More

i thought his approach was smart and one that people should take which is he goes right now there's like five million people who collects sports cards my question when we bought tops was how do we get fifty million or five hundred million people to collect and like that's the only game i wanna play is expanding the total size of this market from five million people who do this thing to fifty million people who do this i feel like i could rule the world i know i could be what i want to put at all in it like a days off on a goal travel never looking back dude i listen back to our last episode the drunken episode is good we're funny people liked it i i've heard that what what did you think was here's so if i listen to whole episode imagine how good it must have been for me to listen sit through with a cringe of my own voice well for people listening people will usually message sean and i together but sometimes separate and they say i liked the this episode and the response that we always have is why what did you like about one part if it's show we feel hard for that compliment well no i mean i it's not really i like what i need we need to do more what was funny i think i literally came across as sort of like jig drunk the whole episode i was already i i just felt like i was having a good like watching myself have a good time made me have more fun and the second was y'all reactions were really good so i pitch a kind of hair brain idea and then you were your reaction was on point and then ben came in with like not like you know reasonable calm ben ben was like that is a terrible idea or he was like no sam you're dead wrong this is a great idea you imagine crawling onto this big ass bed and like blah you know he like really played into it so i think it just had good energy and good vibes that's good yeah we had we had people reach out to us about it so that's good so i'm gonna try to maintain that dude right before this i was watching you you saw mister beast one on joe rogan i don't know if you caught the episode at all i didn't i i just a couple of the clips where they said like what do you do your money and he's like not much because i i used to have a roommate up until recently and we split our place for seven hundred dollars but i got a fancier place because someone broke into my house so i needed like some security but it's still like pretty normal of a house yeah i didn't see that so i've only seen one clip and it was basically the clip of like how did you make it on youtube it's a great clip right like it's what he say so he goes so he's twenty three now and he goes i started doing this when i was eleven and joe's like what eleven he's like yeah he's like i came home and i was he's like i started doing this when i eleven and he's like i sucked obviously at the beginning he's like so he's like he's like look at me now i don't look cool now like imagine me at like twelve like i was like you know pi you know pi face sc awkward mum kinda guy and like here i am trying to like make videos and he's like back then and also youtube really there wasn't a thing like youtubers wasn't like a thing twelve thirteen years ago you know so it's like he's like yeah i just was doing it because liked it he goes i hated school he's i never he's like in high school i just never even brought a book home like i said he's like i remember doing zero studying my parents got so mad at me he's like and then like when i turned eighteen he's like he's like basically so his his win it went in three phases he goes from eleven to thirteen i was trying to make videos but i was like super embarrassed because they were so bad and joe was like do are they did they still exist goes no i deleted my channel when i turned thirteen because like i got like i don't know like bullied in school a little i felt embarrassed so i deleted all those videos but like started fresh again at thirteen and like whatever kept going he's like so then from thirteen to like seventeen or eighteen i was just trying to make like videos all the time because my first video randomly got like twenty thousand views he's like that was the best thing that ever having with me i got like this instant hit and i was hooked and then like it didn't happen again for a while but like that first one which was about like he like hacked some video game like here here's it beat this level in a video game or whatever he's like some obscure game and it just like people wanted to know how to do that hack so that's how i got popular right away or he's like that's how that video got popular and then i got i wanted to chase that that that feeling again so he's like i wasn't making anyone he's like finally i got appointments where i making a dollar a day and he's like yes and he's like so i saved up for like a few months and i bought a microphone i was yeah like now i sound good like here we go and he's like i just kept doing that kept like making it a couple bucks saving it and then like buy a camera or buy like you know like a a a better computer so i could like edit the videos or screen recorder or whatever and and so he just kept doing that for like six years he's like my whole goal was by the time i graduate from high school can i like just make enough money doing this because i don't wanna do anything else he did not his number so it did not happen he's like by the time i he's like but the time i graduated high school i was making like four hundred bucks a month or something like that and he's like you know it's the three hundred or four hundred bucks he's like so my mom gave me this ultimate and i'm just like you know you're moving out or you're like going to community college like you're not gonna do this video thing and so he's like fuck okay i he's like didn't wanna go to community college just like it's like the worst thing in the world just sitting there listening to this lecture like it's not what i wanted to do he's like so i started skipping he's like every everyday i would just go to my car and instead of going community college i just edit videos in my car hey he's like i do that all day and i come home and my mom thought i went to school he's like and he's like that created a clock because now she was gonna find out like by the end of semester i had zeros as my grades like she was gonna know that i did not go create go i had to like i bought myself like one semester more of time he's like and in that time i pulled it off like i got to the point where i could like self sustain i just moved out and then i could like do this like full time moving on my own it's like second so that's kinda like the progression of how i did it and i was like how how long is that how awesome is exactly exactly like a bet on yourself story where burn the bridge behind you right so so you know you you we say burned the i know why we say that burn the boats like if you wanna take the island and you gotta burn the boats and so he burned the boats when he when he did that and and knew what he wanted to do right because like school's great school's is not for everybody if you if you kinda know what you wanna do you're much better off i think competing in the free market on that thing than like competing for your teachers like love and affection you know with writing the essay sa they wanna grade as an a plus right like writing the thing they want you to write about in the format they want you to write in a way that we'll get them to give you the grade right like that's like that's like not a real market whereas as you make videos on youtube you're competing in like a real market or you wanna be an athlete yeah it it's just that most people think that they're like gonna do something for life and they aren't willing to or they don't actually want to i think i think the the ra here is not is someone eighteen and capable it's do they actually love what they're saying they love enough that they're willing to dedicate ten or twenty years to it right yeah like do you you know what i mean are you act do you actually have a thing you love most of don't do not my i remember my sister when she was going to college my dad was like alright well like do wanna a major in she's like i don't know he's like what's your favorite subject like what do you love to study she's like lunch like you know i just like i'm not i don't have anything against any of them but like do any of them make me happy not really so what now what and like i think that's how most people's careers go it's like alright well i hate it but i don't love it but now what what i supposed to be yeah so i think that's severity here is that he actually they that he liked something enough but anyway that's a good story i'll have to go and watch his podcast when the shout up there's there's one one one more that's like that that i think you'll appreciate there's a guy who's visiting kid who's visiting facing my my brother law's nephew his his kid named sebastian and he's in town visiting i haven't seen him in like seven years so i was like oh sebastian like oh you've you hit puberty you kinda grew up he's like he's still like he's like kinda like he's like a kid right he's still small but like he's like ripped and from the age of like i met him when he was maybe five and back when he was five he was so into like wrestling and m and like u c and mma and he would like he knew every wrestler promos songs moves everything like i think a lot of kids do but he could like do he would like practice them he was like good at them he could like do an impression of stone cold officer with the rock or these guys and then with fighting he was like got really into jj early on and got good at it to the point where he was like by the age of i wanna say eight or nine he was like mom i'm like this is what i'm gonna do i'm gonna do fighting like i'm gonna be a fighter so let's just like do that how do i go train like five hours a day because that's what i wanna do and so from the age of like he was already doing it when he was like a young kid but i think from the age of like eight nine or ten somewhere there he started training like a professional he homeschool himself so he's was like okay i don't need to go to school anymore like i'm gonna do this i'll homeschool to like you know continue passing these like grades or whatever but like my real school is i spend five hours a day in this gym and i get good at this so and he's now forty so he's seventeen now he's got his first amateur fight this year he's one of the best two players in the world he's going to adc he's like the best in he's already the best in the state of texas he's one of he's number one or number two nationally and now he's gonna go to the international competition see if he can win that like the world championships at age seventeen has been training all of striking he's doing his first amateur fight and this kid is so focused so driven so determined and like it's just kind of amazing to see like what a good kid comes from like you know like single mom household and like you see but it's he do is he doing an m an mma one which striking or just she didn't no no he's doing mma now so he's like i i love he's like i love it all he's like she's did so already the best he's like my strike he was coming along he's like i wanted them to wanna take me down he's my striking is that good he just talks like like dude when i was seventeen i didn't have a clue i didn't have a clue about a clue and so when i saw that i was like that's special and it's just like just the way i i idol kinda like the the billy of the week i appreciate greatness when it's accomplished i even i like it even better when it's the raw talent that's just what's his name into a dime give sebastian name i think it's like i think it's like oli or i don't know how you say his last name it's like a hispanic last name i'll i'll send it i watch indian no he he's hispanic it's i'll watch his videos and jj is normally very boring he's so athletic that his ji suit looks fun and he's like a show him man like he comes out and the crowd has already heard about they've seen him on instagram like the the announcer know that he's like more acr with the way he does things and so he's got like an aura about him already it's pretty dope to watch i can do this guy gonna be in the and it's crazy i've seen him since he was like eight or nine years old doing this what's what the weigh he's a fly he's like a fly so he's very he's very small he's like maybe five six hundred twenty five pounds like that sort of thing but maybe he'll he'll fill out i guess he's he worked out with us and like it was like he put us all to shave it was embarrassing he's stronger than you yeah he he's he's like a dominant athlete like it's like okay we're gonna do this hip raise you know thing and it's like his explodes it doesn't raise it's yeah i like size matters so like even a like a like a like a not strong two hundred pound person can't he's sure one thirty you know brother aaron as he's known on the pod right so yeah he's like he's crazy man or he's six three six four he's two hundred pounds and he's been training to do for maybe me four or five years now and he's like a whatever he's like a blue belt or whatever they rolled and he got tapped like fifteen times in and to so you get embarrassed by a hundred twenty five pounder he's like it wasn't close he's like i can't but i couldn't believe it like i thought i thought the size and strength would just let me kind of mall a little bit and he's like no dude i'm i'm gonna google them at for this i wanna what he it looks like alright you have a lot of stuff i actually didn't research much at all because last time you said i've got so much yeah well i might have been talking about my ass there but we'll we'll do it anyways so i'll start with a couple business things and then we'll go from there so did you did you see like what michael like i michael rubin did so we talked about him a little bit to to be honest i don't entirely understand what his business fan does but i know that like he's got three different companies right now one of them was worth like fifty billion another one's worth like a billion or another words worth like five or ten billion like it's just like create it's like there's fan then there's like three spin offs of it yeah exactly so i don't have like a ton of you know kinda like research on him or whatever but basically fan itself is worth over ten billion dollars and what what fan does is they basically are a merch company but for sports and so what they do is you wanna go buy a steph curry jersey whether you buy it in the nba shop the warriors shop or you just google steph curry jersey and you land on fan dot com it's fan that's printing they're actually like printing the jersey and then shipping them out to customers i get to that i just don't understand how just like a rookie like a new i mean he's on a new anymore he's been doing this since he's was twenty one and he's probably fifty five now how can just like a guy come in and just like muscle like the people who have had those contracts for twenty decades yeah twenty years i also had that same as that question now i know he was kind of like successful for this i think he had done a it was called a gs i think commerce and he sold it to ebay for i forget exactly how much but he made like eighty or ninety i think and then it didn't work out at ebay so he bought back some of the stuff and he grew that to be big and then he also spun out a few things so this company called shop runner which is quite popular is basically like amazon prime for people who aren't on amazon he built that business and and a few other things and so i started as like a a ski shop when he was eighteen i think that's yeah exactly ski is sort of a ski business whatever then became like kind of a apparel logistics so that's gs commerce that sports again sports commerce he sold the to you i think i don't know if you said the price two point four billion yeah i think he only walked away with like eighty which is a lot but i i don't think he i he i think he like gave up a ton of equity and he was like in his late thirties at the time and then and then yeah i don't know how we got the contracts but he basically just like continued licensing i don't think he guys exclusive so i think he got the licenses to print print the stuff and then over time demonstrated that like they had the best product with the best delivery with the best quality assurance and all that stuff and so they ended up being like we'll just power your shop right we'll be the we'll be the default one when you go to like the the team's websites well he also bought a recently started a cards company that is making cards and they just and then he was like you know what it let's just buy tops while we're at it yeah and i just so i don't understand how he he's totally just kind brute forces way into this it seems yeah so he exactly so had bought tops which is kind of like a pretty interesting move we've talked about trading cards we talked about you know like this whole thing at what there when it seems like what they're gonna do is they're gonna say alright we got the licenses from the from the sports teams we can get we can we know licensing as a business we can get the licenses for cards as well we know printing and manufacturing we can do that with the cards as well but then also with cards there's like basically it's the same customer it's the same fan so if i buy a steph curry jersey odds are i'm gonna be like somewhat interested in like a steph curry rookie card and what the the threes i wanna bring them up was not because like i had some like deep insight on his like business plan although i think it's pretty simple which is like we have the sports fan as a customer what do they buy one of the things that they might buy is collectible okay let me go buy tops and like we'll let's sell them collectible but i thought his approach was smart and one that people should take which is he goes right now there's like five million people who collects sports cards and and so like the whole business is like these five million people and nobody has like taken a like big approach to this it's been this like hobby kinda underground this like a charm of it like if you go to like the annual sports card conference it's like this yeah in cincinnati that's like you know these hobby obvious bring their cardboard boxes and like some you know special shout out to like you know kentucky fried chicken from sponsoring this year's conference or whatever right and like eric's moms for bringing cookies yeah exactly third year running thank you was just k it's so they're like you know that's the conference right now so he's like dude why is that like that but like sneaker con is like this fucking state of the art thing and ces is like this epic show that's like you know cutting so he's like i'm gonna do all that and the no he's like nobody has spent a dollar on marketing collectible like nobody like it's like this hobby obvious passion industry but nobody goes out in markets this thing is but the people have done that for sneakers and another thing so i think what he's gonna do one one smart thing i like this point part of a plan it was he's basically going to athletes that like to collect in general he's gonna like make it known that these celebrities oh did you know like the whatever you know the the guy from billions like the hedge fund manager has like like he's gonna build stuff he's gonna build like a media company on top of this a little bit like a media company or it's a it's gonna be a a a slick media play and they happen to sell the cards it's gonna be he's gonna make it cool to collect right it which was just a smart thing and the reason why again like okay that's just part of a plan the one part i really liked is he goes there's five million people who collect today and what anybody else in this space is trying to do is try to get as much take as much as they can from those five million my question when we bought tops was how do we get fifty million or five hundred million people to collect and like that's the only game i wanna play is expanding the total size of this market from five million people who do this thing to fifty million people who do this thing and i just thought like that's that's a really powerful mental model for how you'd how you build businesses and i've talked to about this before that's the same it's the same framework as the the one that the guy from slack did when he created slack he's said yeah there's work chat tools and some people use them but he's like the reality is eight of the ten customers that we talk to companies that we talked to they don't use a live chat tool they use email so he goes his memo was called we don't sell saddle here right because he's like if we just go to the existing people who like horseback riding they probably already have a saddle like we try to convince them to switch because we got a better saddle they're kind of familiar with their ways we're always gonna be in this like tiny niche but if we sell the dream of horseback riding and show people how fun it is to go horseback riding we increased the size of the overall market and then when they say oh wow i love this thing but my butt hurts was say great we have a saddle for you and so that's like just like a general approach to business i think more people should take is increasing the the size of the number of people who even want your category before saying pick me have you i i agree that's a really good insight and an example of that is have you seen so kevin rose this tech guy for years to kevin rose for some reason after i forget where he was he was either i think he was at google leading like their venture arm he left and he became the i think he became a a part owner and the ceo of this blog called h yeah i think that's like h it h and i remember hearing about that and i was like he yeah a blog for watches and i was like well there there was a middle step so he created a studio a lab and inconvenient ideas and that's why it was even more crazy he's like yeah we're creating this like publication or this thing for watch collectors and then that got acquired i think by either h dink or that was called her dink and it got fired i'm not sure which one yeah they the sometime the this guy either already had this blog kevin was tinkering with it and they became one and he started working on that and i was like what the heck man you're like should buildings yeah aren't you like yeah tech and like a blog of like what are you thinking and then i started watching some of their youtube videos and it was either kevin or the other guy who started the the site and he was sitting with john mayer and they were talking about their watches and i sat for like twenty minutes watching this like what where john mayer was yeah this watch is actually special for this reason and i was like that that's that's amazing and they had this show in youtuber they were doing that and i'm not a watch guy because i don't wanna spend i don't i don't get joy out i get more stress out of spending thirty thousand dollars for something on my wrist i i i kinda get annoyed with it but i was watching his stuff and i was like i wanna i wanna own this you've turned me into a a con store or i wanna be kinda sore i wanna be part of this exactly i want to want this i don't know how yet yes it's like sushi and wine there's only been a whole bunch of these things from like oh i kinda like the idea of getting into this hobby golf freight like i want to want it yes and that's how i felt with him and i could see myself wanting to do this with cards i am when i was a kid did you ever collect magic cards not magic pokemon for me but yeah i did i didn't imagine and i don't even remember how to play it and i remember like i was like just let me look on ebay see how much of them others those are and i was like just gonna buy some this is this is fine i'll remind me of my childhood and i would totally do that with sports cards even though i don't pay attention to sports now just remind me of my childhood i would buy like a more a mark mcguire card or something like that but yeah this is cool i think that's a really good framework actually have you heard of this startup up called what whatnot no did you go to this so just go to what not dot com w eight it ever just spelled how it spelled whatnot so this startup so i'm gonna let you look at this i this launched in let's see whatnot walnut this is slick so the really not launched i i think in like in the last two years so launched in december twenty nineteen guess how much whatnot is valued at right now a hundred million over a billion dollars is a billion dollar startup you never heard of what do you do so if you go into one of these i don't know if if you've opened up one a live stream so it's basically a live streaming site and all you do is you open up the live stream and it's somebody who's got a pack of cards and you could buy the pack and then they'll open it live and tell you what you got and so like he you can open up you know pokemon card pack or you know an nba card pack wait i'm i i'm gonna buy it from him and he's gonna open it live for me for you and then he'll shoot he's gonna mail it and then ship oh wow this is so like i have here dude their traffic is just like going up like crazy this is really cool it basically just kinda looks like a tiktok knock off and i tried to invest in this and these fucker didn't let me in but you know i should why not sure tried harder yeah why not exactly why not what whatnot what did they what did they say well they were just like hey we got like a lot of we we're over sc let let me see i could like joined the process a little late in the process and they're were like let me see how much room we can make and then it was sort of like yeah we can't really make it a room you know like we we kinda have people who want all the allocation already how'd do you find them buddy mind justin had sent it to me i was like hey i'm real i'm really bullish on this one he invested and i was like oh great and i got the in and i was like you know and i saw it and i was like i understand this dude i like did did a bunch of stuff at twitch and live streaming like i can help you guys look at me i'm such a nice guy and like this was pretty early like the podcast wasn't very big yet i didn't have as much of a brand in any way twitter wasn't that big yet and and also i didn't hustle hard enough like i could've have hustle harder but it was already like a decent valuation at that point i think it was like a was a pretty pricey it was a decently pricey round i mean still it's up ten since are they young are they kids no the guy the founder grant he had a pretty impressive background i don't remember exactly what it was but like look at this so so i went on i immediately went on whatnot but whatnot at the time was more for like magic and pokemon and things like that i like sports cards so there's like other versions of this that are for sports cards and so i went on one and so i did this so i end up dropping seven hundred dollars on these useless cards that i end up getting i got nothing good out of my pack the guy was opening it was just like oh you know like the best one this one he sent in the in the the frame is somebody named ig brad on the knicks never heard of this guy like you know he literally you know in college average fourteen points a game so like you don't i don't know what this guy is i don't think he plays and that was the best card i got out of it but i dropped seven hundred bucks because you can just with apple pay you're like oh i wanna buy a diamond pack oh that's how they do you're just apple paying and i'm just clicking on face id and just dropping hundred dollars at a time on these packs and it's like such a addiction because it's like dude it could be a luca card it could be a honest card like it you could get one of the big ones in this thing and it was so dangerous i was like i can't open this app ever again you know this is you know this is a small divorce bomb that i'm i'm looking at here i need to like just distance myself from this do you remember when we talked about this thing i forgot what it was called ben maybe you can look it up but basically when you're buying fancy art that cost like millions of dollars you wanna store it and worked a free port that's what it's called so basically i i i'm gonna i don't wanna sound like too much of an idiot because we talked about this like two years ago but i think when you're buying our as long as you keep it in a particular type of country you don't need to pay sales tax i guess on it or something like that and so people will keep them in certain countries because they're like i don't want this like twenty million dollar thing i don't even want in my house i just wanna store it or i'll just store like a lot of my collection and i wonder we we talked about free ports for like some of these for some of these newer collector items and we talked about that two years ago i actually think i would like to see if there's an update if there's anyone that launched anything like this yeah so basically a free port lets you store your art for an unlimited amount of time without taxation i believe i i think they're like you don't have to declare it so like you you can sort of put your art there and you don't because it's like it's like in limbo it's like neither here nor there and so there it's like we're just whole i'm holding it for a friend yeah exactly and i don't know exactly how it works like i don't think it's a total free lunch in fact i was actually was literally watching a video about this yesterday and then i like paused a a third way through because i didn't do something was there's there's a good video about this on youtube of guy explaining like eight minutes how free ports work and basically yeah it's like a i think the entire art market is like very money laundering and even within that then free ports are like this like extra hack on top of that but i wanna get i wanna get to the bottom of of how free ports work if you know i don't think it's that complicated but i just haven't looked into it i don't think that kid either but i wonder if you let's say that you bought that seven hundred dollar packet of cards and there was something in there that potentially was worth five thousand dollars like if you could just send it to a third party just to hang on to it and then when you're ready just click a button and sell it maybe you would want that right and there's this other which is like people like rich people will donate their arc to a museum take the tax right off but the museum is like a cottage and on their it's like a part of this it's like the west wing of their mansion it's like they create these like nonprofit that like they're they these novel museums that exist like on their estate and things like that is that really how work there's some stuff i i was in the video he was talking about that or you know he mentioned that i don't that's not what a free port is necessarily but i think that's just like yet another thing like why do these people buy art for like you know it's fifty million dollars and donate it and it's like well because you know x y z alright that's the episode i feel like i could rule where i know i could be what i want to from at all in it like a day's off on a travel never looking back