The New WeWork, How to Make $10M In 3 Months, and More

and his verification is for a hundred million dollars liquid plus and so he the guy has over a hundred million dollars and he did it all through two or three of these apps and i believe with close to no employees and you get it over around like eight or ten years what up what up they told us to do intros now of the podcast so this is my first million the podcast where we tell you a hundred good ideas half or good half or bad but it's on you to figure out which ones this is my first million where i make fun of sam about how he talks he makes front of me about how i look in between we squeezing a few business ideas mostly what else what else we got for and supposedly we're supposed to be successful people so it's like the reviews people say they say it's kinda like we're just sitting at a bar with a bunch of our successful friends dare i say i hate this word right multi friends and is hear what they talk about that that just a couple of deck of millionaires hanging out on the but dude yeah how are we you supposed to brag about that you know what i learned from from my last successful venture i now take those learnings to the podcast can i just say that regardless of the d millionaire nonsense i did something a few weeks ago that i think was amazing i bought a sixty dollar tattoo gun on amazon and i let my wife give me a hand tattoo instead of wearing a wedding ring oh wow totally worth it let let me be the judge can you bring me a little closer here what what is it it's just an x can you see is it right like an that's not focusing okay it's an x like you know it's an infected x like but it's an x you know like where where something was there then it's like dead and now you've like put an x there that's kind of the the vibe you're going for or what yeah like you know x on like a moons shine whiskey jug yeah something like that and she wanted to do this or you wanna do this she seems more sensible than you so i don't know wanna do it i just said sarah i bought this tattoo guide sit down right now or otherwise i'm just gonna do it myself okay threats and i handed an orange and threats yeah like it literally i set it up it with the two minutes it was done i handed her an orange i go right next on that orange great i'll do that on my fist people i always ask us what's the secret to be in a d millionaire and we tell them it's threats you gotta threaten your your business partners your marital partners you gotta to threaten all your partners actually say you you you kinda do use this sort of like i wouldn't call it threat but as they say it's always sunny it's the implication of danger you i feel like you that you do use this the the implication of things going wrong am am i right about that what's an example in your management style like you know you're trying to get the team motivated you have two paths you could go down you could you could start with why and tell them why you're so excited about this why this is good for them or you could just hit them with a with a solid threat with the implication of of of of things not going so well if if we don't do x which way do you go i like the second one i'm more of a guy who will do like if if i can alright tell me how you are if you can make a million dollars or not lose a million dollars which one are you more motivated to do for me not lose a million dollars and i say for you the same same absolutely same it's not to do something so i love setting my life up and i do this all the time with like my wife and stuff like oh shit like we already booked it like we already we're we're we gotta do this thing or you know i always set stuff up that if i don't do it there's consequences that's the way to live man and i used to do it with my employees all the time and you know what they always said they hated it and then whenever they leave and quit eventually they'll say something like yeah but i did so much cool shit and we actually got a lot of stuff done so i think people actually like right yeah they tell their therapist as they to spend years recovering from you yeah i guess so dude can we do you have a bunch of topics i got a few yeah i got a couple two can i start on one that like i think it's blowing my mind and i so yeah basically yesterday i went on a long walk i didn't i went on like a ten mile walk you ever going a long walk i go walk i got a dog yeah yeah i just went on a really long walk and i went and walked around all these fancy neighborhoods in brooklyn and i started you know i do what what people do i pull up zillow as i'm walking and i'm like you know i wonder what it's like to live here and the houses that i like what i usually will do is i see a house and i go oh i would like to live there and i pull it up and it's eight million dollars in eight million dollars that's one number but then you actually look at how much money you need to come up on at closing and then you look at how much money you need to spend each and every month on the mortgage and on your interest and on maintenance and things like that and i started thinking i think i'm gonna live over here in brooklyn and i wanted to like map out how much money i would expect i would spend to live the lifestyle i want to spend and it is astronomical and i wanted to talk about some some of those expenses you wanna talk about some care how much walk me through it okay so listen to this first of all i'm gonna talk about the life that i'm gonna live when i moved to brooklyn and all the listeners there's gonna be a bunch of them that's gonna say oh sam no one needs an eight million dollar house yeah i get it you know like all i need is like a bucket of water and like some apples and like a pair of cro and i'm happy but this is the life that i choose to live so like i get it no one needs this but i'm picking this so get off my back on this hypothetical case that might be a reality in two years so i just gotta get that out of the way but in terms of hypothetical it's not entirely hypothetical because i went and talk to a couple friends who do this but listen of this shit so i found a home that i wanted to buy and i actually linked to it on the the mb master doc okay so it's a street ease is on street easy it's a nice house okay it's only three thousand square feet though but it's a brown stone in my favorite neighborhood of cobb hill it's five million dollars i actually think the range of things i want are between five and eight but this one i just found it was available it's five million dollars which basically means i gotta come up with one point one million dollars has my down payment and then i'm gonna spend around twenty thousand dollars a month in mortgage and interest and and things like that not including maintenance which is gonna be more expensive it's gonna be probably another two or three thousand dollars a month then i think it would probably cost on the low end fifty thousand on the middle only end of like a hundred and fifty thousand dollars to fur it the way i would like to fur it right have you ever furnished the house yeah yeah it if you go like re like my wife she's like oh yeah i'm like what do you like just like restoration hardware i'm like jeez like you know every item in the stores like four hundred thousand to ten thousand dollars and so you know you just add that up per room you're putting in like twenty to twenty five grand worth of stuff per per room in the house which is pretty nuts yeah totally so like a hundred and fifty k is that's just kinda what it would cost if you wanna go that route if wanna go west elm west elm then yeah you're you can maybe get it done for a hundred seventy five thousand but it it's quite expensive then if i'm gonna get this fat house i'm getting it because i have two kids or a couple kids so i need my forty thousand dollar fifty thousand dollar a year nanny i imagine i would spend around thirty thousand dollars a year in food and so basically it comes up to where i think i'm spending six hundred to seven hundred thousand dollars a year to live the life i wanna live in brooklyn but here's the kicker if you're making over a million dollars a year in brooklyn or or for sure or in manhattan it's even more than this half your money goes away to taxes so basically if i'm spending around six hundred thousand dollars a year i need to make one point two million dollars just to cover my my monthly number breakeven just a breakeven and if i if it's and and i i talked to two friends one friend who lives in brooklyn he told me that he spends around five hundred thousand dollars a year and then another friend that also lives nearby and he told me he spends eight hundred thousand dollars a year and he sent me he sent me his list but he goes i have an an additional house in north rhode island but if you take that vacation home we are spending around six hundred and fifty thousand dollars a year so to to live like this it's crazy and when you go and walk on on these streets you know there's a house every block if you go in manhattan there's a fancy apartment every block how on earth do you think people so many people for this it's crazy like when you actually think about the logistics right well well a lot of the people who own these homes they own them before they were worth five million dollars so go look at the you know the zillow history of this thing ten years ago what was this home worth you know i'm guessing it's less than you know less than half this maybe thirty five percent of this price ten years ago thirty percent and so you're what you're talking about here is like you know a home that will that they bought in their basis is a million a million and a half dollars something like that instead of five so now the monthly payment is less and now the property taxes are less and so you know you cut out your biggest expense in this case you you trimmed that down so i think that's that's the answer for how a lot of people have this is inheritance or or buying in you know twenty years ago fifteen years ago when these were worth a fraction of what they worth today and so that's why they can afford to up live above their weight well so i had four takeaways when i started thinking about this the first was that there's a story behind everything so all these people like simple team like me he's like oh he's gotta earn this much money and they did it by starting a business he's like no that's not the reality zach crockett who works at the hustle he basically we were talking about this and he was gonna write a story on this and he said that he researched a bunch of these homes and what he did was he a for all the five million dollar over a bunch of five million dollar brown since it's and nyc he used a tool called melissa and he looked up the property records then he googled the names of each person who quote owned it and then he like looked at their family records which she just did this all through just s thing and like look at their stuff and he found out that a bunch of them like seven out of ten of them were like teachers or artists or or or a professor things that you basically like you can earn a bunch of money but you're not earning enough money to buy this home and what he surmise and came to the conclusion was like they just get a lot of help and so like it's hard to own a five million dollar ounce so when you're a reporter at the new york post or some like you know hundred and twenty thousand dollar year job so i think there's a story behind everything the second thing is i think you just have to earn a lot of money dude you just listen to this if you earn one paying hang on that was a killer insight what the you gotta earn a lot of money yeah we're jack come over that you gotta earn a lot of money but listen let's let's put the math on this how many how many years do you think you need to how long would it take you to save ten million dollars if you lived in new york to save ten million dollars yeah to get a portfolio of ten million dollars i have no idea i don't know let's say twenty years okay so if you make one point five million dollars and you're spending around twenty five thousand dollars a month and living expenses it's gonna take you around fifteen years to be able to save ten million dollars which is pretty crazy now you gotta figure out how to earn at least a million and a half for ten years or for thirteen years which is like it that in itself is impossible or not impossible very very very challenging and so the hold on your fur your first thing was like these people are teachers and artist and you said they gotta have some help you're talking about like family help you're not talking about like there's nothing else right you're saying you have rich family yeah okay alright sorry i carry on i think that i think just having a like i underestimated that when i think about this i'm like whose parents would give them two million dollars for a down payment on the home and i think the answer to that is actually a lot i can i i can't imagine that but the like that that was hard for me because yeah i don't fucking know my mom dad like the best gift they ever gave me was when i turned to the that gave me a thousand dollars and that was like last birthday president i ever got i i don't even think it's a down payment okay you're a teacher great your down payment is covered where you coming up with twenty five k a month of your monthly monthly payment just for your home like i i think it allow you i think they're this is a and this is an all cash here's your house free and clear you get to live here and you cover your life expenses if you're paying for a latte that's you but i'll buy you this brown stuff i i think that's gotta be what it is i think that's it that that has to be what is or the second thing is you got earns a lot the third thing is i think you gotta i want how many of them do you think sell a business i think earning a lot like a big nut of ten twenty million dollars it seems like impossible to do without selling an asset you gotta be in finance law maybe medicine or consulting to be pulling in a million dollars a year of income i don't i don't think there are many other jobs that do that we're not talking about athletes entertainer because that's just a small such a small portion of the population but if jobs that a normal person can get that's gonna make you a million to two million dollars a year i'm pretty sure you gotta be either a banker or a banker or a consultant if you're employed you gotta be self employed as a doctor or a lawyer or something like that to be able to pull that in so that's like am i missing one that's like those are jobs that are those are yeah those are non entrepreneurial jobs like the other way then you could start all business yeah yeah yeah exactly you own a small business you own a big business you you know you own in a contracting firm you to construction around the city whatever it is those are the other way where you can do this and that's usually you you're not earning some steady one point five million per year you're earning like nothing nothing nothing a lot a lot lot huge and then back to nothing you know like that sort of thing it's just it's this lumpy curve that an entrepreneur has where you're basically broke till you're very unbroken so yeah but and my yeah what else you gotta say about this and my third and final takeaway here is basically there's so much out there there is so much money out there there is so much opportunity you walk by all these places and again ben laugh me this is obvious but it when you see it in real life i walked on the street and i'm like oh that apartment that costs twelve thousand dollars a month to rent in that top floor of that brown store sewn and there's three of those in there so like there's three people each paying twelve thousand dollars and there's just like home home home home home home home it's astronomical and there's just so much money out there to be made it's just so much opportunity so anyway i what did this three hour walk yesterday and i just i felt enlightened and i just wanted to come to the table and and fill you in on that nothing nothing nothing well that's well that's why i'm glad you started the show with something un that that's why you know these tiktok that are like they stop somebody at a fancy car or a fancy house and they go hey i just wanna what do you do for a living and they're guy's like and then they're like you know first of all like this like a trap or you like an ira agent what is this and they're like i paying houses or they'll be like you know i i work in real estate you know i work in the financial services industry and it's like oh okay what what's good on here but i think the reason those are popular is because wealth for most people is a complete mystery it is a complete black box unless you come from wealth if you come from wealth then you grow up and at your you know you're going to fifteenth birthday parties where like serena williams is there to play tennis with the other kids you're like what the hell like you know like this is everything is just nice everybody goes we summer in the hampton do you have a place where you summer like summer is a verb and and and then you you know you you you know that you're oh my godfather you know he's he owns like forty four dental practices and so you if you grow up with wealth usually you wealth doesn't seem like this mysterious una unsustainable thing in fact you realize there's like a thousand paths and it's up to you to decide which one you want but for most people wealth this is like kind of just this mysterious thing you don't even see how wealthy people live you don't hear like the numbers you talked about i think for a lot of people listening they're gonna be like what in the hell is sam talking about somebody pays five hundred thousand eight hundred thousand dollars a year of just our living expenses like that sounds like the most money you could make let alone spend per year and so when you're talking about spending more than a person's life savings in a year that's think very foreign to people then you say okay well how do you achieve that and now you have maybe one example two examples you don't have like twenty five thirty five forty five examples to choose from and so i think that's why those tiktok channels are popular i think that's why this podcast is popular because you either react to this type of information with one of two reactions bitterness or inspiration for most people it's bitterness you hear about other people's success or they're extravagant and spending and you get bitter you see the difference between what they do and what you do and you don't focus on the fact that maybe you wanna do it instead you focus on the fact that they're wrong evil unnecessary blah whatever it is and how you know they only could've got it by by sort of cheating the system or some unfair advantages and you get better and that's where i would say ninety percent of people fall into the bitter camp but some people that hear those stories and they take inspiration and if you take inspiration you start to collect each of these anecdotes you start to collect each of these data points and you say oh i'm taking this foggy map that i have this cloudy map where i couldn't really see and i'm just pushing away the fog i'm getting clarity on wow there's a thousand ways to win and wow winning it can be a lot bigger than i even imagined and once you sort of have that in your head that's when things become a lot easier because you start to notice all around you examples of people building wealth in unique ways and ways that are not always long and hard ways that are not always painful or required genius sort you'll start to see examples of somebody who does it by you know simply like you know starting a mushroom farm in california and it's like yeah that's what they do or somebody i remember a medi guy who created the tread that goes on treadmill mills he's like yeah we're we're tread manufacturer i was like what and he's like and these these guys would do like fifteen million a year in sales and the was he a marketing genius no was he a sales senior no he just simply was like oh there's demand for tread that goes on conveyor belts treadmill think i'm mean out i don't know i was like i was like in fifth grade at the time i don't remember was my friend's dad and i was like what why is why is jordan so rich and i was like oh jordan's rich because jordan's dad sells tread on treadmill and then we met these other people that are rich and they i was like you know again i wasn't even asking the question but i remember my sister saying something like yeah they have like mushroom farms and i remember like in my head farmers don't make like tons of money and then i realized pretty quickly farmers can make a ton of money and so you know but i was just slowly collecting these anecdotes only when i in my twenties and i was like if i wanna know how to get rich that i need to know like a lot more examples of richness and if i wanna get rich fast and i need to get examples of people getting rich fast and and this is actually a good transition we have a friend who is we were just in the group chat we have a friend who it seems like might get rich very quickly here and let me explain richer they created a product or a service or an app and they every everyday they're posting a chart of like the growth of this thing and it's like a an early version of a hockey stick it's like we went from doing hundred dollars a day five hundred dollars a day thousand dollars a day today three thousand dollars today is gonna be nine thousand dollars day pretty quickly like you know fast forward two weeks this person's gonna put a chart in there that's gonna show them doing two hundred thousand dollars in revenue just today and it's gonna be nothing has changed it's just they just let the growth carry on you see that and you're like wow that's that's winning like that's the o v lane that's the fast lane where you could just go in and you can win faster like jeez i didn't realize that i thought i got them bust my ass for ten years and the reality is this person has been busting there after for ten years building up the skills so that they can launch a new product and they can do let's call it five to ten million this year in in potential profits now this person if you remember many months ago and they told told us this exact this exact thing they go yeah i'm just thinking about ideas that can make i forgot what they said ten or fifty million dollars i wanna make ten million dollars in a year or fifty million dollars in a year and i was like okay like you know yeah sure you know and i want jessica alba to you know add me on snapchat right now like but yeah it's necessarily gonna happen like you could just say it but he was like no i've been studying there's apps that do that in the app store and and he's like showing samples yeah yeah just showing a screenshots and examples it's like that does that yeah this does that yeah and you now you see ten of them and all of a sudden first of all i never knew somebody who even stated a goal like that so just hearing it for the first time was like that's interesting i knew people that would say i wanna build a huge company a billion dollar company that was normal i'd heard that before i'd heard i wanna get a high paying job you know i wanna make you know five hundred k a year at at this company i've heard that before i had never really heard somebody be like i'm looking for a way that i can make ten million dollars in three months that was actually the exact thing was how do make ten million dollars in three months and so i was like alright well never heard that that was new then i thought well my brain doesn't come up with any examples of how to do that that's like you know doesn't involve you know putting a ski mask on and walking into a wells fargo so like you know and then he gave me ten examples and was like okay well now i got ten examples number eleven doesn't seem so far fetched at that point and i remember coming to talking to you and being like dude have you heard anybody think like this talk like this come up with ideas like this because i believe that there's great power in questions and i'd never really heard somebody ask the question how do i make ten million dollars in the next three months and once that question was asked now my brain has to start coming up with answers and at first my brain was struggling then as you gave me examples have started to get better and better and better and come with examples of about how you might do that and now it's literally happening like that's front of us scenario is actually playing out right in front of us what do you think of this i think it's awesome i think i think it's still too early i think anything that comes fast will go way fast or can go way fast but right he called his shot and we are seeing on a daily basis whether it's come it's coming it is in fact now coming into reality and i think it's awesome i think that there's ways i think peter till said it where he's like what's your five year goal and then someone says their goal and he says cool how can you do that six months so i usually believe in that this guy took it even further which is what's your five year goal do it in three months and it's awesome and there's another guy who i know that's done this and he's public his name is alan wong do you have the the the app on your iphone that lets you listen to police scanners it's like the police scanner app no but i know i know of these apps these are it's are weird yeah it's like five dash zero radio app i think like five o radio app and this this guy allan wong he posted in reddit in two thousand and thirteen and he basically said he said hey i'm allan wong i was told to create name have it up here yeah you wanna you wanna read it or you have it there here he goes yeah he goes i'm a per asked me anything think i'm a person is twenty she went from rags during the recession he goes how i did it i developed apps my most popular apps is called the five o radio police scanner it lets you listen to police chatter around the world you've probably seen this used in the latest spider man movie although they rebranded it and as of twenty twelve my apps have been downloaded by twenty million people by the way this is ten years ago he wrote this so he did this in the two thousand and eighteen i an update on that and i can give you in in a second so so he goes my parents were raised in the slums of china they fled here with my brother to new york my mother worked in a sweats shop in chinatown before she quit became a home my father was a herbal before he passed away on naturally three months after i graduated it from college after passing no one in my family had a job so he says i found a full time job at columbia university i was the only one of the income so i taught myself how to create apps in my free time and i created apps on the weekends with hopes of making some side income i didn't expect this to make me millions and then he says what does he save money i think he says his money somewhere here but yeah go ahead fill in the gaps so he doesn't say it there but i found it so there's this other subreddit that i talk about all the time called fat fire and they've got this particular type of flare called verified by the mods where the mods the moderators look at the income or your balance sheet they look at something and they say yeah we believe it what you are saying is true and his verification is for a hundred million dollars liquid plus and so he the guy has over a hundred million dollars and he did it all through two or three of these apps and i believe with close to no employees and he get it over around like eight or ten years it's a he by the way he says so he has three apps he has five o radio then he has police scanner plus and then he has one more called what is it called hang on he's got three apps that were in the top like the top hundred so so he goes this means i'm the only person ever in app store history this is what he wrote at the time this is back in i don't know twenty twelve twenty thirteen something like that that i'm my only person history to have in the to in the app to have three apps in the app store that were top ten overall in the paid in free categories at the same time yeah man this guy's cool and then he if you google his username it's rh apps so r e g o apps and then fat fire you'll see his post from fat fire and he talks about what it's like to be different tiers of rich and he's has all types of of like you know when i was at this thing this is how i felt when i was at this other thing this is how i felt and now according to his flare it's over a hundred million is this is so you asking who else do i know that's done this i don't know this guy and i can't verify that any of this is true but it's pretty interesting and it might be true well yeah and and i don't know the speed that this guy did it but still amazing by the way we should get verified in fat fire aren't we posting in fat fire it that seems like a i that's our those are our people we should hang i do post there i post there under a a name that no one knows me as but i would post there more would you post do do you use this yeah i'll go browse i i never post never comment but i'll i'll make an account and i'll let's it let's get it verify let's do an ama there yeah so look this guy's thing says i fat i found his username he was i fat fire to age twenty five i make ten million dollars a year in my thirties ten yeah ten million plus a year in my thirties and i have over a hundred million dollars according to which has been verified for the mods in here this is what he says someone says what's the difference in millionaires or in money level so he goes at a hundred k to a million you can tip very generously and be okay with that at one to five million you can fund some medical expenses and maybe a college college tuition or two maybe for an extended family member front at five to twenty you could pay off a handful of college choices tuition i guess they're asking about donation you can pay off a handful of college tuition and some expensive surgeries and then he jumps to fifty to fifty million you can create several non nonprofit and overseas that that are overseas and help people at a community level like building a school or local community or something so he like talks about this constantly throughout this subreddit and it's very very interesting yeah that's cool i like that that's a good story i i i'm gonna have another story to share on this in let's call it thirty days let's say i'm gonna call i'm gonna leave that little seed here thirty days i'll have another interesting story to share on this topic but let's switch to something else million dollars isn't cool you know what it's cool a billion dollars let's talk about this guy scott painter do you know who scott painter is this is my this is my billy of the week this is guy's scott painter i don't know if feasibility billy but he's got that big billy energy for sure and i'm gonna tell you this guy's story and you're gonna be you're gonna be amazed by this guy alright go for do you know who i'm talking about you who if you ever heard this name before no i'm just looking it up now so scott painter is known because he was the ceo of something called true car and so true car is like a super successful it was like one of the super successful early car companies on the internet so what they were doing was they were publishing price information so that you could go and figure out you know the the what the true price of this car is so that you know if before you would go to a dealership and depending on which dealer you went to and which salesperson you talk to and what how they sort of size you up as a sucker you would get like a thirty percent price differential on the price of the same car so you could go to one place and the same exact car they'll they'll charge you you know thirty percent more or less depending on which place you went so it's a huge spread after true car people could just go figure out well this is the price of this car a nineteen ninety seven you know mazda mia spoke with this many miles is supposed to be this price and in every market they would go into the price gaps that that dealers were charging with sprint would change from thirty percent down to like three percent and so they were like helping bringing a price transparency but this dude is a a crazy story he is built he has basically spent like twenty years just constantly trying to reinvent the auto industry online so this guy did i'm just gonna read you like his is linkedin so he's he's the v he starts off well he goes to the army first of all he's a spanish inter which is just like a kind of a crazy little path that he took and he talks about like you know why he went there is like you know my you know dad wasn't so cool i needed freedom army was freedom for me so i went to the army and so anyways he get he goes and he becomes vp of marketing at one eight hundred car search this early internet we're talking like nineteen ninety nine basically and so there's one eight hundred car search one eight hundred dentist he's like the vp marketing for each then he creates like a consultant so he's just hot one year one you're have to they creates dental advantage it's like consulting for dennis about how to use the internet then he starts another one called vision incorporated is again nineteen ninety nine ish and he's like helping companies transform like for e commerce like hey companies are gonna need to do e commerce i'm gonna help them do this so he he was right he was just way early on on this trend of e commerce and then he just starts this like crazy run in the car industry so he goes the he's the founder of cars direct they go from zero to six hundred fifty million in sales in year one then he goes he started starts advertising dot com yeah then he's ceo and and founder of true car then he ceo un founder of price lock which was like lock in like gas prices then he was a founder then after so he's he does true car he takes it public and he gets on this crazy scenario where he is the i think he's the largest individual shareholder he's not only largest of his shareholder he's buying up a ton of stock he believes in the stock like crazy they have an earnings miss like the economy sort of turns car people start slow down with their car buying they have a big quarter miss stock drops like crazy he gets margin called because he was buying so much of his own stock and he's basically forced to borrow money from friends to pay off his margin call and he he resign from the company that same month he basically re has to step down as ceo he lost a ton of money on his own stock he he gets a divorce and his literal house burns down and what does he do the following week the following week he incorporates fair dot com to a new way to buy cars and this was like basically the idea that like hey car buying is super super complicated you go you buy a car i don't know if ever done but like the process of if to buy a car have to qualify for financing like you know eighty percent of cars are financed in the united states no nobody buys cars all cash here and and then you have like this complicated like credit check payment thing then you have your your insurance on top you have your title insurance you have to do the right registration you have to do all this different stuff a's like what if instead it was like you know if buying a car was as simple as like buying a coffee or netflix like subscription so what he would do is you would just put in your phone number it would like find out all your information it would i it would say what card do you want you pick a car it would be like cool that car is five hundred dollars a month and you own that car and you could turn it in at any time if you don't want that car it's like a long term rentals basically was what fair was doing fare grows like crazy they raise hundreds of millions of dollars because a this guy has got this crazy track record b he's very like kinda of charismatic and formidable like you see this guy as a founder you're like god i would hate to be competing against this guy in the same market and he thinks very big he's like you know we're gonna change the way that car ownership is done gonna make this faster or cheaper or whatever soft bank piles in three hundred million dollars into a series b round and and they're on their way and fare ends up going up really fast and then crashing really fast because the few years ago don't know if you know other basically like them know as the tech markets like valuations turned soft bank was was was the big whale and this space started losing money they lost money on we work then they lost money on was there the big one soft bank had like i don't know three or four like huge things like uber like they had few a bunch of huge things going like the prices crash from where they had invested and so he couldn't raise any more money and he had built this like very complicated thing they lay out forty percent of people fair doesn't really work out and now he's back again because i see this thing that says this new startup up autonomy has placed four hundred million dollars worth of purchase orders to buy eight thousand something tesla's this year as like what who's is buying eight thousand tesla who's paying four hundred million dollars to buy tesla's and is a start called autonomy that is trying to make it where you can just rent electric cars simply like you you you there's a lot of people that wanna own electric car like a tesla and they can't afford it to expensive all in so here pay this monthly fee and you get to rent a tesla you get to own so you get to like have a tesla so you're not renting it's a long term rental he's back and so they've placed one billion dollars of purchase orders across different electric vehicle manufacturers to do this so he's he's back he must have raised a ton of money again plus like raised a bunch of debt and he's back with his new startup drive autonomy and this guy is fascinating i went down a rabbit hole listening interviews of this guy how does is a radar interesting dude because of this autonomy thing i worked backwards from the last thing i told you where i was like but why were you just looking at purchase orders of cars hundred million i saw to i saw to you know you i follow on twitter like you know elon and a bunch of like these like kind of tesla fan boy and tesla hate accounts like the i follow both sides like there's basically a huge group of people that or as should actually say it's a small group of people that believe tesla is a giant fraud and is going to zero they're called tesla q and then there's other people that believe that elon elon musk is you know the second coming of jesus and i follow both and in the second coming of jesus camp they were like tesla you know the huge you know here's more good news for tesla these guys drive autonomy has placed four hundred million dollars of of orders for for tesla because there's so much demand but and elon have rep replied saying he was like demand has never been the problem it's supply like manufacturing the production of cars is our problem like yeah this is good news but like we don't have a demand problem we have so much demand we have supply problem but i i was curious where is this you know half a billion dollars of demand coming from i've never heard of this start before what do they do and and that's what they what what was he like when you hear him talk is he charismatic he just looks like an a charismatic very matter of fact so he's basically like he's a good storyteller he's quicken to the point he he reminds me a lot of like you know the other guy we like frank s the guy who runs snowflake who wrote that amazing blog post amp it up which is basically describes like you know don't be such a wu like you know run your company to win that we're here to win and like this is the plan to win and that guy just been like a serial ceo of companies that just grow really fast this guy like that so let let me tell you some of the kinda like interesting little nuggets that i came out of this i'm just gonna keep rambling on this guy so he's basically he's like he's like i'm a multi time college dropout like i have dropped out of college multiple times i dropped out of like my kind of prep college i dropped out of undergrad i dropped out of grad school and he's like i basically had a ton of failure do you guys know me because i've tried like twenty five things and three have worked and he's like you know but that's entrepreneurship like you know you need three to work out of twenty five in a twenty year career and like that's that's like what winning looks like he's like you know i always loved cars he goes cars are a where am i at in life purchase here i can just look at a look at a car that i own and it would tell me a story about where i was in life you know like you know when i'm graduating from super when i'm graduating right i'm coming of age or when i like you know when i moved or when i got got a my first good job or like whatever he's like a car basically marked you know each chapter he's like that's how it is for most people i kind of had that insight which is like a car is like your avatar that you use when you go around the world a car says something about you and yeah when you when you go upgrade to the minivan is because you're going into family mode and like that's what i kind of realized he goes people spend a crazy amount of money on cars because in the interview the guys like how have you been able to raise so much money he goes well i play in like the biggest market he goes fifteen percent of all people's gross income goes to mobility half and buying their car and half into fuel taxes repairs insurance etcetera he's like so when you have this thing that makes up fifteen percent of what everybody makes or just put differently like i think it's like a third of your net worth you know if people are spending on a new when they buy new car he's like the tam is just enormous like you know it's like five billion five trillion a year goes into cars or something insane like that so he's like you know that's the easy answer to how i raised so much money i went played in this big space and then i tried to reinvent it at every every time i would do one i try to reinvent it so he's like you know we were the first ones to be like we put the upfront price of a car on the internet nobody was doing that at their in the early days i think that's the cars direct is he successful you know you said that he got margin called that mean he was broke doesn't necessarily mean even broke it means he didn't have enough collateral for like what he borrowed for his stock now if the stock recovered which i don't know i haven't looked at true car the true car their their mark covers is two and thirty three million yeah that's that's yeah doesn't does not look like it is done very well since then so yeah it's like basically you know a third of where it was back in twenty fourteen so yeah that's that's not doing so well and he says that in his things like i have he's like i made a bunch and i've lost it all many times over and so you know i'm sure this guy done well like i i know think we can build multiple companies that could value to billions of dollars take a company public i don't think you can do that and like you gotta real you gotta be like kind of really fucking reckless to walk away with less than you know twenty million at at the end of all that dude i love people who do but anyway swings even if they miss like consistently or like you know in this guy's case like he didn't entirely miss he did actually build some amazing things but like maybe he was just shy of what it could have been another guy who's doing that right now tell me what you think about him adam neumann the founder of we work he just raised two hundred and fifty million dollars in seed funding for a one billion dollar apartment business i don't exactly know what the business does but it sounds like it's we live the thing that we talking about where you you know it's like fancy apartment buildings that are all most of the same you pay a premium because it's all pre designed and looks really nice and it has a community on it which honestly i think is awesome i also think we work is awesome what do you think about a guy like adam neumann taking another swing our software is the worst have you heard of hubspot see most crm are a cobb together mess but hubspot is easy to adopt and actually looks for of think i love our new crm our software is the best hubspot grow better i think it's great i think it's so easy for people to shit on him and you people shed on him for two reasons one is well i we forget the reasons i'll give the explanation the reason is just simply like you it's fun to hate on somebody you know that you don't know that like and he's full it seems like too hard they they got too big headed and then they they crash people like that but i think the criticism is what the criticism is we work failed well we work didn't really fail it just didn't achieve the like you know what's we work work today we work is still like you know like five or six billion company more valuable than than anything that we've ever built you know so it's like yeah we work is valued at three point nine six billion right now publicly traded you know so it's not like the it's not like we work actually fail it just you know he raised too much money to have valuation didn't live up to that that dream at that that promise and a bunch of people got burned if you bought the stock or you joined the company at that really high price yeah you're underwater for that so that's the first criticism the second is he lied cheated steel you know he he licensed the he was like paying himself out of the company for the trademark of we he like you know did stupid things like you know this like summer camp wherever he got drunk or whatever those things to me are somewhere between little whack a little messed up to actually like understandable and more common than you think when it comes to these like hyper growth companies like it's a liar i think crazy kinda ego driven people but there's crazy good there's crazy bad is crazy crazy bad what are you mostly good but it could be in some cases it was bad but i think that when i at least when i read about it them and i don't know the guy i've hung out with miguel the cofounder and at my my read on these guys is i don't think you're lying i just think that you got some things wrong and i think that you're just like incredibly enthusiastic and i don't know like is it when you paint the picture of the future and you end up being way wrong you're you're not a liar you're just wrong you know you're optimistic but you still call that wrong but you're not a liar or at least you don't you're not a liar if you believe that a is different right right delusional or irrational is very different than like lying or fraud and i think there's lime who knows if you crossed it i don't know all the details not involved in all that but from from the outside it looks to me like he was one of these guys who is huge dream irrational self confidence so unbelievable self confidence that they are gonna pull it off that they're gonna pull off this crazy crazy dream i do think they get you know high on their own supply where they start to think that like you know the stuff that got them to the to the point where you know you're on the cover of time magazine and i've everybody's throwing money at you to fund you then all of a sudden you think you know i can't be touched and i've seen this out many many times i've gotten burned on some of these so i've you know that like i you know i invested in tear in tara which was like you know the luna like crypto coin right and the the founder of that was the same way this guy del kwan super smart charismatic unbelievable confidence that his thing was gonna work and some the some people all along the way we're saying he's crazy and then slowly but surely a bunch of smart people gave him money you know because it was like this guy's crazy but he's kinda pulling it off and maybe is just crazy enough to pull it off and we have many examples in history of people who are crazy enough to pull it off let's see if this happens and and and then over time is ego balloon and it balloon and it balloon and he kept basically taking larger risks and tempting people to to you know sort of call him on his bluff and and then somebody did in the market like a series of events happened in a crash and all went to zero and everybody looks dumb and you know i lost a million dollars of like you know what i had in worth of luna in like two days because i believed that this guy was gonna be one of the crazy ones to pull it off i didn't think he was not crazy i thought he was crazy and like might be the good crazy and was worth the bet and so on another times i've bailed because i thought you know what i'm not falling for this sort of the hero entrepreneur the charisma the the visionary entrepreneur thing i owned tesla stock when it was really really low i remember i remember at the time tesla was valued at maybe like two billion and two three billion something like that and i remember investing in it my dad was like tesla they don't make any money and i was like yeah but i think that like you know here's my reason why i think they're gonna be big but a b and then i thought i said he's like yeah but like you know it's already valued at three billion i like well know i at the time i think gm was like twenty five billion or something like that one of the biggest companies on what's tesla now five a hundred billion five million yeah i but it hit a trillion so like you know i would rode two billion to a trillion i can't do that so basically like that's like this was my it was the first stock that i bought i i think i put in like twenty five or something crazy like that twenty five would numbers but one point millions right million yeah i i one point in calculator it was a five million dollar i i i would've have had five million dollars i what i did was i turned to twenty five k into like a hundred twenty five k and i sold because i started to get suspicious that like damn this guy really over promises like and he had he does over promise he over promises on like when something will be built how good it'll be like he's he's pretty much wrong on the timing always like he's he's been saying that the cyber truck is coming out he's been saying that the you know the model three would be more affordable than it is he'll say that autopilot like he's been charging people for autopilot like the self driving full you you you buy f full self driving and it's like not full self driving and you've been paying thousands of dollars for like multiple years now and it always says it's a right around the corner right so like this guy does have this i remember when i was reading the the the twitter stuff about like people who were basically saying this guy a fraud tesla's a scam it was very very convincing there was a lot of convincing evidence i remember like they went through twenty cfo twenty cfo in like four year time span and like the new cfo was like some guys never been a cfo before and like somebody really smart ones told me like just follow the cfo the cfo know what's going on with the company they know the company helped better than anybody and like that made a lot of sesame i actually still believe that principle it just turned out but it it it and no no it it was right which is that it was on the brink of collapse consistently and he kept pushing it threaded the needle he pulled it up yeah he he pulled it off he threatened the immediately pulled it off and there's still a bun mountain of evidence as to like that it was very close to failing that he basically over promised slash you know that over promise would be the generous term you know sort of lied manipulated you know to keep the stock up to prevent it from getting like you know basically crashing and and and going out of business there's a bunch of evidence that the supports that but the bottom line is he pulled it off and i was you know five million dollars wrong for selling early and and so i've been on both sides of this and i i think where i netted it out is some people literally are just con artist and they are literally just going to scam you and their charisma will will manipulate you and dupe you into into believing on in them but there the some of the best entrepreneurs do have this have such a similar profile where they're irrational delusional willing to like run into a you know a fire pit and they're like there's no way you'll make it out and then you know nine nine ten don't but the one time who do you know like change the game and so i just sort of landed on you know what i'm gonna lean towards i'm gonna lean towards optimistic on this because even though i would be right if i was pessimistic about it nine times out of ten i'd miss the i'd have a false negative on the one that actually works out and that one will a pay for all the losers and investing terms and b like you know it's just more fun to sort of like follow these entrepreneurs and and understand what they're doing you know and what why they believe they could do this and be more more optimistic than a hate towards them that's kinda why i landed that's a good one alright let me tell you i'm gonna i wanna end with two things one is the lame thing i've seen on the internet in the past few weeks and number two is a company that is making way more money than i thought and i'm absolutely gonna clone it eventually i'm gonna start with the second one the go to perfect yeah go to bit pipe dot com so b i t p i p e dot com tell me what you see okay oh my god alright i see a craigslist looking website it says bit pipe is the enterprise it professionals guide to it resources browse fee online library with the latest technical white papers webcast product information or i don't know what this is but basically looks set of blogs maybe so content like one of them click one of them click content management yeah done then click view now okay it looks like it's a set of reports so click view now so i did it for you and says now this is an article from computer weekly it was released on august twenty two august two thousand twenty two and it's called like it's so technical i don't even know what it that actually is what what are what's the one that you're looking at i'm looking at euro tunnels digital journey for realities of post covid travel and it tells me i could download this e design easing the hell that and i'm gonna let let me tell you an even worse one this one's called how to choose an hr software like what people call a a magazine on the internet easy yeah is that what it's called it's it's old so this one's there's the call called how to choose listen this one it's called how to choose an hr software system and hr system is one of the most important purchases and organization makes nowadays the stakes couldn't be higher and download this guy this guy this e guide and learn all the key steps and setting up an effective buying process and how do i identify hr hr software features then it says give us your corporate email address your first name last name company name job title senior job function number of employees industry address country states zip phone and just click download now and we'll send it to you alright so this website it's owned by a company that owns like twenty or thirty of these websites and it only has about three thousand customers but it makes around four hundred to five hundred million dollars a year on revenue and the way of work no yes sam no no no no i refuse to accept this reality no no way cut this out i don't like this i don't like this it's public it's a publicly traded company it's a publicly traded company with a market cap of about two and a half or three billion dollars so it's owned by company this exact thing bit pipe makes that much or the whole company makes that much the the whole company which is roughly like ten or twenty of websites like this what's at tech target so every company on this bit byte website you see how it says this is from computer weekly dot com or this article is from networking it's like flow route social networking dot com this was from like this other website that talks about global knowledge which is your guide on information systems so they own like ten or twenty publications that talk all about like buying software for huge companies and they get very few people coming these websites a month very few but because the article is called how to buy an hr system for a thousand plus employees there's around twenty five hundred companies in america that will pay them money to do a couple things the first thing is they wanna contact the people the lady who is giving in our her email and information on an article on how to pick an hr system is a lady who maybe thirty different hr customers will say hey i'll give you five hundred bucks if you can give me that lady's information so i can call her the second thing that they do is they they'll track that lady that lady linda she's gonna go to computer weekly dot com and look at hr software thing then she's gonna go to information system and look at a cloud software thing and then what tech target is gonna do is they're gonna go to their clients and be like hey hey my motherfuckers is you there i got a lady who's about to buy this thing that thing and that thing you wanna talk to what you want holler and that's what they do and that's how they make their money and they make hundreds of millions of dollars a year that's all they do they go hey it's my motherfuckers about to buy some cloud software you wouldn't dwell what yeah they own a a website actually call what is and it's just like people googling like like but i mean they're phrase hey what it is bro yeah yeah i got this chief aviation officer at gardner yeah yeah they wanna score bro yes she texted over year yeah yeah you up this is safe sorry so but why do people why is that person who's head of hr why are they aligning at this website that looks like it's from like nineteen seventy nine why are they this looks like you know back when the internet was called the intra internet and it was like six computers this looks like a intra website it's not even an internet site and so what the fuck are they gotta do just googling because dude if you google like what is a good software if i'm if i'm you know like so if i'm the the chief information offer officer of a ten thousand or five thousand person companies i'm gonna get my information from a few different ways i'm gonna watch loads of very specific webinars that are on like a trade show a a trade magazine i'm gonna read trade magazine and by trade magazine and i'm gonna learn about them because they're hosting like a hundred person trade show that's all talks about like how to pick an hr software in vegas so it's really just a really fun way for me to go and watch the chip dale like get through their thing but then i'm gonna go to like a vendor that day and like you know we're gonna hang out and do some blow but then that so they're gonna go to that website and learn all about it because that's how they know them and then occasionally that company is gonna do a webinar in order to access the webinar i'm gonna give them a bunch of information and they're gonna sell that information to the eight companies that could possibly service me and that's how the tech target makes money and so this lady linda she's gonna go to all these websites and meet all these people because such a small it's a small small industry there's like maybe tens or at most hundreds of thousands of people who would do this and this is what i've been thinking about this b to b media world it is awful say it with me it is awful it is a horrible horrible industry it is awful yes with a with a barrier or a the the it's such a low bench line or ben threshold of what's good and what's not good the content is horrible and people love it and these businesses be why aren't we starting a company that just beats these guys why aren't we starting the most boring b2b to b media company but we put our spin on it just like mug s did just mug shots we are gonna do to the be b to b media industry want be b bitches that's what we're gonna call it the b bitches hey what be where the b to b bitches what's up yeah it's gonna be like a like a radio show we're it's gonna be hey it's a b bitches today we're gonna talk about information systems wait wait went you know like yeah exactly we're gonna have a podcast that's the radio station actually we're just gonna have am radio station yeah we're gonna have a know we're gonna give pager to every cio in america and when there's gonna be like little sonic club first up it's gonna be like b to b bitches in the morning yeah this is gonna work guys yeah you know like my favorite thing by the way those radio stations that do the cheater segment you see this or they like basically call it's like hey well you call my boyfriend and just see if he would cheat on me and like they just like call the boyfriend and then she's on the other line and they basically tricked them into being like yeah alright i'll meet you at home depot what time and then they're like actually rebecca on the other line rebecca's is like you set of a that's what we're gonna do we're gonna get one vendor your existing hr solution on the line and then we're gonna call being like hey are you interested in a new hr solution and when they say yes we're gonna be like we got workday on the line workday what's he's gonna teach you guys and it's called churn busters and we just catch him in the act no one has ever laughed at this style of content except until or up until right now we're the first people to ever make tech target find fun topic to yeah but dude this is interesting right the the this business model is crazy fascinating to me they make money through webinars they make money through like these e papers or they fucking call a i mean that's just like who's working here my next business i already have started a company it's like this community thing i'm gonna add this this style company i'm gonna add it to this is gonna be in our portfolio of products now let me show you the last thing dude last week i i just say before you do that can i just before you do that this is this is yet again a number seven we got a number seven a sam special this is a sam special it's like no one's even heard of this website somehow it does hundreds of millions of year a a year it it looks like it's from nineteen eighty two and like you know how do you even know these i don't know but this is a sam special this is why i like to talk to you because you bring these things nobody nobody i know in my entire life i could i get hit every single person i'd say hey you ever heard a bit pipe i would get the answer no across the board you're the only person that i know that knows about this stuff well look up tech target market cap what is it is it like two point it it it's like multi billion it's like one of these companies that's just like in plain site but no one pays attention to yeah so it's there these let's see the current price so it's trading at seventy two dollars a share with a market cap of two point one billion dollar and like what was its peak it's peak was probably five or six or seven i mean it's not like a little thing yeah double yeah it basically double word it's at now alright last thing the lame is thing that i saw last week so this guy posted on linkedin a picture of him crying and it he's the post starts off this will be the most vulnerable thing i'll ever share i've gone back and forth whether to post this or not but we just had to lay off a few of our employees and he talks about how it's his fault and how he made all these decisions and i'm gonna have to file this under things that i'm gonna take to the fucking grave i cannot believe this post i cannot believe this post what happened to like a man being stoic and just like you know like just taking this just take these feelings and just push them down you what i mean just accept it and push them down hey it's great hey on that shelf that just has daddy issues make room yeah we got something new i need to put on the shelf that on wearing already down in my gut yeah yeah yeah i want that problem to walk over but excuse me and mind if i scoot in right here that's what it needs to happen with this i cannot believe this person share this is that ridiculous i mean i didn't even understand it by the way he goes he goes i've seen a lot of i've seen a lot of layoffs over the last few weeks on linkedin most of these are due to the economy or whatever other reason ours my fault i made a decision in february that i stuck with for too long now i know my team will say we made this decision together by the way they won't they'll say you made this decision they're not gonna be like we all made this mistake boss yeah and so then he basically writes this long thing and he writes it like in the marketer style whichever the line like single line enter one line enter and then he posts this picture of himself looking into the camera crying and this has i think it has fifty thousand likes and ten thousand comments but most of the comments are just shitting on it him which is hilarious sorry you said what as fifty thousands has their two thousand likes ten thousand comments and most of them are just making fun of this guy so as as is deserve to be honest like you know at my first feeling we don't con condone bullying but we definitely don't condone absolutely faking the fun like this guy's is doing it the then the top comment that i like well some guy was like hang on did you turn your ring light on before you took this selfie because i can kinda see the reflection it looks like you turned a ring light on to take the selfie of you crying to post on linkedin and that's like that just calls it out so perfectly the the the ina authenticity of the fake authenticity that this guy tried to tried to portray i can condone some type of bullying i could condone bullying this guy because if the bullies had they done their job nerds like this wouldn't be going around existing this is the most ridiculous thing i've ever seen i saw this and i was like bullies you failed us how on earth did this guy get away with it this is the you need like you know in every ecosystem it's like yeah well these are the plankton have to be there because they're absorbing this and like you know these parasites actually you need them because of the that's why we need otherwise yeah like this is gonna run rampant it if there's no bullying yes this guy someone need he needed a big brother he needed it's a big sister or someone to be like look this isn't how you act this is not this isn't the right way to behave when something like this happens do i cannot believe we're prob here at the my first million podcast dude there's just gonna be a generations of cool a generation missing cool kids because of this no i saw this post man and i thought this was is this is the definition of small boy stuff like where we say it's definition of what we're talking about yeah yeah this is the this is this is small boy stuff this is this is a small boys as it gets i saw this and i was like oh man i've seen a i've seen a bunch of these like miss like henry ward from carter wrote this letter of saying how he screwed up and i was like oh alright that's cool whatever this is the worst example i've ever seen of this i i think what do he thinks gonna happen to this guy's career like if you're a customer of his i'd be like oh we like your code must suck like you know like if you're your if your product is even fifty percent as weak as you it's not gonna work do you know what i mean you know what i mean in some of these comments are hilarious they're like brandon at brad i understand these things happen happens for a reason focus on the positive let it go rest easy my sweet child rest easy and that starts off with a serious comment it's like sleep sweet my sweet child is that a manner this is actually the best content ever on linkedin this is the best content on linkedin like the comments the the combination of the post in the comments almost on linkedin was the most entertaining you know like social media of the day from there from this one post dude i was gag and reading it man it was this was crazy i i i felt embarrassed i just felt so embarrassed form you know how like we talk about cringe stuff i legitimately cringe i remember my face being like like i just had that i my face was changing shapes reading in us yeah like i have this tooth that's like a little sensitive and it just started like ringing when i this i was like like i eat too cold of ice cream like that's how it felt what i read this it's just like this uncomfortable this uncomfortable feeling that i just needed to pass alright so that's the episode gotta tell your friends tell your mom you know go add us on linkedin go do what you gotta do is my personality