The $30M app that lets you invest like a politician

All right, I own 40 $10 in revenue. We All right, I own 40 $10 in revenue. We acquire acquire acquire and this year will generate around $20 and this year will generate around $20 and this year will generate around $20 of revenue. We manage of revenue. We manage of revenue. We manage Um and that makes $30 per year of Um and that makes $30 per year of Um and that makes $30 per year of revenue for the company. Those are three revenue for the company. Those are three revenue for the company. Those are three ideas that didn't even exist in my my ideas that didn't even exist in my my ideas that didn't even exist in my my cone of vision. You know, I didn't even cone of vision. You know, I didn't even cone of vision. You know, I didn't even know that people do businesses like know that people do businesses like know that people do businesses like that. >> All right, how's it feel to be in real >> All right, how's it feel to be in real life? This is strange. life? This is strange. life? This is strange. >> This is weird. It's been >> This is weird. It's been >> This is weird. It's been >> There's normally a screen right here. >> There's normally a screen right here. >> There's normally a screen right here. >> by side of the last time we were in >> by side of the last time we were in >> by side of the last time we were in person in San Francisco doing it on the person in San Francisco doing it on the person in San Francisco doing it on the red chairs. red chairs. red chairs. >> So when we when you started this thing >> So when we when you started this thing >> So when we when you started this thing and then I came on two or three months and then I came on two or three months and then I came on two or three months later, we had these bright red chairs later, we had these bright red chairs later, we had these bright red chairs that we bought off Amazon for $150 and that we bought off Amazon for $150 and that we bought off Amazon for $150 and it was just us sitting on chairs and I it was just us sitting on chairs and I it was just us sitting on chairs and I hated it cuz you could like see like a hated it cuz you could like see like a hated it cuz you could like see like a crotch shot. crotch shot. crotch shot. >> Yeah, I think I might be doing it now. >> Yeah, I think I might be doing it now. >> Yeah, I think I might be doing it now. >> like sitting like this >> like sitting like this >> like sitting like this >> [laughter] >> [laughter] >> [laughter] >> and then we had a like a >> and then we had a like a >> and then we had a like a camcorder. camcorder. camcorder. >> Well, we have a guy in the room and we'd >> Well, we have a guy in the room and we'd >> Well, we have a guy in the room and we'd be like, "Hey, are we good to go? Is it be like, "Hey, are we good to go? Is it be like, "Hey, are we good to go? Is it all good? Audio? Video?" And he'd be all good? Audio? Video?" And he'd be all good? Audio? Video?" And he'd be like, "I think so." like, "I think so." like, "I think so." >> [laughter] >> [laughter] >> [laughter] >> It was like, "I think so" is like not >> It was like, "I think so" is like not >> It was like, "I think so" is like not what you want to hear from from the guy what you want to hear from from the guy what you want to hear from from the guy who's [laughter] who's setting up the who's [laughter] who's setting up the who's [laughter] who's setting up the camera. camera. camera. >> intern. >> intern. >> intern. And it was one camera. And it was one camera. And it was one camera. >> audio video before? >> audio video before? >> audio video before? >> No. >> No. >> No. >> [laughter] >> [laughter] >> [laughter] >> But I hear you. >> But I hear you. >> But I hear you. >> Yeah, >> Yeah, >> Yeah, I can hear you great. I can hear you great. I can hear you great. >> Um what do you think of New York? You >> Um what do you think of New York? You >> Um what do you think of New York? You been to a bodega yet? been to a bodega yet? been to a bodega yet? >> Yeah, we went to a bodega, yeah. >> Yeah, we went to a bodega, yeah. >> Yeah, we went to a bodega, yeah. >> So I talk about bodega culture. I don't >> So I talk about bodega culture. I don't >> So I talk about bodega culture. I don't know if you've like seen any that have know if you've like seen any that have know if you've like seen any that have been Have you seen any that have been Have you seen any that have been Have you seen any that have impressed you? impressed you? impressed you? >> I have to like stay out of bodegas cuz I >> I have to like stay out of bodegas cuz I >> I have to like stay out of bodegas cuz I start chatting it up for too long. I'm start chatting it up for too long. I'm start chatting it up for too long. I'm like, like, like, "Dude, I've been here for 75 minutes "Dude, I've been here for 75 minutes "Dude, I've been here for 75 minutes talking with this guy." talking with this guy." talking with this guy." >> Dude, like the like the cashier, right? >> Dude, like the like the cashier, right? >> Dude, like the like the cashier, right? It's the best. I'm friends with so many It's the best. I'm friends with so many It's the best. I'm friends with so many bodega owners and they bodega owners and they bodega owners and they >> do a full MFM just inside a bodega. I >> do a full MFM just inside a bodega. I >> do a full MFM just inside a bodega. I think I probably should have done that, think I probably should have done that, think I probably should have done that, actually. actually. actually. >> And like it's the pure definition of >> And like it's the pure definition of >> And like it's the pure definition of entrepreneurship cuz you could clearly entrepreneurship cuz you could clearly entrepreneurship cuz you could clearly tell like oh, one day someone asked for tell like oh, one day someone asked for tell like oh, one day someone asked for cereal. Now they have 10 Costco-size cereal. Now they have 10 Costco-size cereal. Now they have 10 Costco-size things of cereal [laughter] and they're things of cereal [laughter] and they're things of cereal [laughter] and they're individually packed into an iced coffee individually packed into an iced coffee individually packed into an iced coffee cup and they just sell cereal now. Like cup and they just sell cereal now. Like cup and they just sell cereal now. Like that's [laughter] just what they do. that's [laughter] just what they do. that's [laughter] just what they do. There's no like Does this go with our There's no like Does this go with our There's no like Does this go with our mission statement? Like no, we sell mission statement? Like no, we sell mission statement? Like no, we sell cereal now. cereal now. cereal now. >> Right. >> Right. >> Right. >> I don't know if you need a license to >> I don't know if you need a license to >> I don't know if you need a license to sell food, even though it says don't sell food, even though it says don't sell food, even though it says don't repackage this for individual sale, we repackage this for individual sale, we repackage this for individual sale, we sell cereal now. sell cereal now. sell cereal now. >> Right. >> Right. >> Right. >> And that's what I love. All right, so >> And that's what I love. All right, so >> And that's what I love. All right, so today we're doing something a little bit today we're doing something a little bit today we're doing something a little bit special. You said you were coming and I special. You said you were coming and I special. You said you were coming and I reached out. I basically just slacked reached out. I basically just slacked reached out. I basically just slacked like the Hampton Channel. I go, "Who in like the Hampton Channel. I go, "Who in like the Hampton Channel. I go, "Who in New York has like an odd business that New York has like an odd business that New York has like an odd business that we can like impress Shawn with?" And so we can like impress Shawn with?" And so we can like impress Shawn with?" And so we picked three different entrepreneurs. we picked three different entrepreneurs. we picked three different entrepreneurs. They have I tried to find three They have I tried to find three They have I tried to find three businesses that were off the beaten path businesses that were off the beaten path businesses that were off the beaten path a little bit because that's why people a little bit because that's why people a little bit because that's why people like watching MFM. You guys like like watching MFM. You guys like like watching MFM. You guys like watching or seeing like kind of strange watching or seeing like kind of strange watching or seeing like kind of strange businesses. So hopefully can open up businesses. So hopefully can open up businesses. So hopefully can open up your mind and be like, "Oh, there's a your mind and be like, "Oh, there's a your mind and be like, "Oh, there's a million ways to get done whatever I want million ways to get done whatever I want million ways to get done whatever I want to get done and build a big company." So to get done and build a big company." So to get done and build a big company." So I picked three. I picked three. I picked three. >> Okay. >> Okay. >> Okay. >> Okay, so they're going to come on. What >> Okay, so they're going to come on. What >> Okay, so they're going to come on. What are they going to do? are they going to do? are they going to do? >> So >> So >> So what we told them I we just bumped into what we told them I we just bumped into what we told them I we just bumped into them. We just told them, "Hey, come in them. We just told them, "Hey, come in them. We just told them, "Hey, come in here and don't start with words. It's here and don't start with words. It's here and don't start with words. It's MFM. You got to start with a number. And MFM. You got to start with a number. And MFM. You got to start with a number. And um don't make us dig it out of you. Just um don't make us dig it out of you. Just um don't make us dig it out of you. Just give it to us. You know the stick. You give it to us. You know the stick. You give it to us. You know the stick. You know what we like to do. We like to know know what we like to do. We like to know know what we like to do. We like to know everything. We like you to not be humble everything. We like you to not be humble everything. We like you to not be humble and brag about the We want you to brag and brag about the We want you to brag and brag about the We want you to brag about So they're going to say a number. about So they're going to say a number. about So they're going to say a number. They're going to say what they do. And They're going to say what they do. And They're going to say what they do. And then we're going to get to know their then we're going to get to know their then we're going to get to know their business cuz we're nerdy about business cuz we're nerdy about business cuz we're nerdy about businesses. And then at the end, you businesses. And then at the end, you businesses. And then at the end, you know, we will ask them two things. We'll know, we will ask them two things. We'll know, we will ask them two things. We'll ask them what adjacent business ask them what adjacent business ask them what adjacent business opportunities are there? Like what other opportunities are there? Like what other opportunities are there? Like what other businesses do they see businesses do they see businesses do they see because of where they are in their tiny because of where they are in their tiny because of where they are in their tiny niche that we don't have enough exposure niche that we don't have enough exposure niche that we don't have enough exposure to that other people might go run at. to that other people might go run at. to that other people might go run at. And then two, like how can we help them? And then two, like how can we help them? And then two, like how can we help them? Like what's the what's the burning Like what's the what's the burning Like what's the what's the burning question? What Where if they just had me question? What Where if they just had me question? What Where if they just had me and you for like, you know, 10 minutes, and you for like, you know, 10 minutes, and you for like, you know, 10 minutes, what would they want to talk to us what would they want to talk to us what would they want to talk to us about? So that's what we're going to about? So that's what we're going to about? So that's what we're going to try. try. try. >> All right, the first guy. >> All right, the first guy. >> All right, the first guy. >> Ben, we can bring him in. What's up? >> Ben, we can bring him in. What's up? >> Ben, we can bring him in. What's up? >> Not much. >> Not much. >> Not much. >> How you doing? >> How you doing? >> How you doing? >> All right, welcome to the podcast. >> All right, welcome to the podcast. >> All right, welcome to the podcast. >> Thanks. >> Thanks. >> Thanks. >> All right, so >> All right, so >> All right, so I've known Alex for years for a year. I've known Alex for years for a year. I've known Alex for years for a year. >> Yeah, a year? >> Yeah, a year? >> Yeah, a year? >> A year. >> A year. >> A year. >> [laughter] >> [laughter] >> [laughter] >> We're very good friends, so I'm going to >> We're very good friends, so I'm going to >> We're very good friends, so I'm going to be biased. Okay, start us off with the be biased. Okay, start us off with the be biased. Okay, start us off with the big number. big number. big number. >> All right. Uh I have four I own 40 >> All right. Uh I have four I own 40 >> All right. Uh I have four I own 40 publications, 40 magazines, $10 million publications, 40 magazines, $10 million publications, 40 magazines, $10 million in revenue. in revenue. in revenue. >> 40 magazines, $10 million in revenue. >> 40 magazines, $10 million in revenue. >> 40 magazines, $10 million in revenue. >> Yeah. >> Yeah. >> Yeah. >> What uh what sort of magazines are we >> What uh what sort of magazines are we >> What uh what sort of magazines are we talking? talking? talking? >> Uh real estate advertising. >> Uh real estate advertising. >> Uh real estate advertising. >> Real estate advertising. Okay, give us a >> Real estate advertising. Okay, give us a >> Real estate advertising. Okay, give us a example. example. example. >> All right, so >> All right, so >> All right, so >> you got to carry one. You don't have one >> you got to carry one. You don't have one >> you got to carry one. You don't have one on you at all times. That's insane. on you at all times. That's insane. on you at all times. That's insane. >> Yeah. Uh real estate agents basically >> Yeah. Uh real estate agents basically >> Yeah. Uh real estate agents basically pay us uh to promote their listings. So, pay us uh to promote their listings. So, pay us uh to promote their listings. So, magazine is like a lookbook of all the magazine is like a lookbook of all the magazine is like a lookbook of all the listings that are on the market uh at listings that are on the market uh at listings that are on the market uh at that time in their neighborhood. that time in their neighborhood. that time in their neighborhood. >> And it goes to a lot of different like >> And it goes to a lot of different like >> And it goes to a lot of different like locations. Like do you have different 40 locations. Like do you have different 40 locations. Like do you have different 40 meaning 40 meaning 40 meaning 40 >> 40 meaning basically we've divided the >> 40 meaning basically we've divided the >> 40 meaning basically we've divided the country into 40 locations. Yeah, zones. country into 40 locations. Yeah, zones. country into 40 locations. Yeah, zones. So, we're covering all of the US and So, we're covering all of the US and So, we're covering all of the US and Canada. Canada. Canada. >> How big is the magazine? Like how many >> How big is the magazine? Like how many >> How big is the magazine? Like how many pages? pages? pages? >> Anywhere from like 100 to 200. >> Anywhere from like 100 to 200. >> Anywhere from like 100 to 200. >> Well, who who's the reader? Cuz the >> Well, who who's the reader? Cuz the >> Well, who who's the reader? Cuz the realtors are the ones advertising or realtors are the ones advertising or realtors are the ones advertising or what? what? what? >> Realtors are advertising. >> Realtors are advertising. >> Realtors are advertising. >> reader? >> reader? >> reader? >> Uh we we have a mixture, but basically >> Uh we we have a mixture, but basically >> Uh we we have a mixture, but basically we mail the magazine out and we'll mail we mail the magazine out and we'll mail we mail the magazine out and we'll mail it out based on property value, uh it out based on property value, uh it out based on property value, uh income, things like that. income, things like that. income, things like that. >> With the goal of being a real estate >> With the goal of being a real estate >> With the goal of being a real estate agent uh is has a bunch of listings in agent uh is has a bunch of listings in agent uh is has a bunch of listings in New York City or something, I don't New York City or something, I don't New York City or something, I don't know, Dayton, Ohio. know, Dayton, Ohio. know, Dayton, Ohio. >> Yeah. >> Yeah. >> Yeah. >> And you want to show the resident of the >> And you want to show the resident of the >> And you want to show the resident of the homes on this block that they should homes on this block that they should homes on this block that they should either use this real estate agent or buy either use this real estate agent or buy either use this real estate agent or buy some of the nearby homes. some of the nearby homes. some of the nearby homes. >> Yeah, either or. >> Yeah, either or. >> Yeah, either or. >> Okay. >> Okay. >> Okay. >> Yeah, yeah. >> Yeah, yeah. >> Yeah, yeah. Uh agents definitely are using it to Uh agents definitely are using it to Uh agents definitely are using it to pick up listings. Like they want to be pick up listings. Like they want to be pick up listings. Like they want to be able to say, "Look where I'm going to able to say, "Look where I'm going to able to say, "Look where I'm going to advertise your home." things like that. advertise your home." things like that. advertise your home." things like that. But they also want to sell the listing But they also want to sell the listing But they also want to sell the listing they have. they have. they have. >> And what's it called? >> And what's it called? >> And what's it called? >> Haven Lifestyles. >> Haven Lifestyles. >> Haven Lifestyles. >> Haven Lifestyles. Okay, how did you come >> Haven Lifestyles. Okay, how did you come >> Haven Lifestyles. Okay, how did you come up with this idea? up with this idea? up with this idea? >> All right, so >> All right, so >> All right, so it started with my business partner it started with my business partner it started with my business partner uh Ryan. We were college roommates. I uh Ryan. We were college roommates. I uh Ryan. We were college roommates. I was a couple years out of college. I was was a couple years out of college. I was was a couple years out of college. I was actually a bill collector for like 5 actually a bill collector for like 5 actually a bill collector for like 5 years through college and after. years through college and after. years through college and after. >> collector? >> collector? >> collector? >> I was a bill collector. Uh which I >> I was a bill collector. Uh which I >> I was a bill collector. Uh which I actually I think really helped with actually I think really helped with actually I think really helped with sales. Like uh just having to call sales. Like uh just having to call sales. Like uh just having to call people all day for money, people all day for money, people all day for money, >> What what are you like the muscle? Like >> What what are you like the muscle? Like >> What what are you like the muscle? Like what what does a bill collector actually what what does a bill collector actually what what does a bill collector actually do here? do here? do here? >> Uh dialing them up. It was uh it was >> Uh dialing them up. It was uh it was >> Uh dialing them up. It was uh it was credit card. Uh so, it was Victoria's credit card. Uh so, it was Victoria's credit card. Uh so, it was Victoria's Secret. It's literally Victoria's Secret Secret. It's literally Victoria's Secret Secret. It's literally Victoria's Secret credit cards. But yeah, anyhow, I did credit cards. But yeah, anyhow, I did credit cards. But yeah, anyhow, I did that. that. that. I actually I was a supervisor. I got I actually I was a supervisor. I got I actually I was a supervisor. I got drug into some HR uh nonsense that I drug into some HR uh nonsense that I drug into some HR uh nonsense that I couldn't believe and like having to couldn't believe and like having to couldn't believe and like having to basically defend myself. basically defend myself. basically defend myself. And I texted my college buddy. I'm like, And I texted my college buddy. I'm like, And I texted my college buddy. I'm like, "Dude, you want to do something?" And he "Dude, you want to do something?" And he "Dude, you want to do something?" And he was like, "Yeah, let's let's start the was like, "Yeah, let's let's start the was like, "Yeah, let's let's start the magazine." So, that's where we started. magazine." So, that's where we started. magazine." So, that's where we started. >> But why the idea of the magazine? >> But why the idea of the magazine? >> But why the idea of the magazine? >> He had >> He had >> He had He had a small publication in Annapolis, He had a small publication in Annapolis, He had a small publication in Annapolis, Maryland, and he said that basically Maryland, and he said that basically Maryland, and he said that basically agents had reached out to him and like, agents had reached out to him and like, agents had reached out to him and like, "Why don't you do something in DC? We "Why don't you do something in DC? We "Why don't you do something in DC? We want to advertise in DC." So, we just want to advertise in DC." So, we just want to advertise in DC." So, we just launched one. launched one. launched one. >> Who's the biggest How many companies do >> Who's the biggest How many companies do >> Who's the biggest How many companies do what you do? what you do? what you do? >> Most There's a lot of small >> Most There's a lot of small >> Most There's a lot of small publications. So, like each city you go publications. So, like each city you go publications. So, like each city you go into will have like a publication. But into will have like a publication. But into will have like a publication. But we have them across we have them across we have them across >> the whole country. And you do 10 million >> the whole country. And you do 10 million >> the whole country. And you do 10 million in revenue. Can you say how much profit? in revenue. Can you say how much profit? in revenue. Can you say how much profit? >> Yeah, like 2.5. >> Yeah, like 2.5. >> Yeah, like 2.5. >> Okay. And the biggest one in the space >> Okay. And the biggest one in the space >> Okay. And the biggest one in the space is how big? is how big? is how big? >> I don't know. It's not public. I don't I >> I don't know. It's not public. I don't I >> I don't know. It's not public. I don't I mean, we could be one of the biggest in mean, we could be one of the biggest in mean, we could be one of the biggest in the space. Like there's not Most of them the space. Like there's not Most of them the space. Like there's not Most of them are franchised. are franchised. are franchised. >> How many years you've been doing this? >> How many years you've been doing this? >> How many years you've been doing this? >> 10. >> 10. >> 10. >> 10. Okay, so it's been a slow build. >> 10. Okay, so it's been a slow build. >> 10. Okay, so it's been a slow build. You've been steady at this revenue for a You've been steady at this revenue for a You've been steady at this revenue for a while. What's next? while. What's next? while. What's next? >> It's been a slow build that that has >> It's been a slow build that that has >> It's been a slow build that that has jumps. jumps. jumps. >> Give us your one. What was your one >> Give us your one. What was your one >> Give us your one. What was your one like? like? like? >> 300k. And that's just me going, meeting >> 300k. And that's just me going, meeting >> 300k. And that's just me going, meeting individually, like just grinding it out. individually, like just grinding it out. individually, like just grinding it out. >> Okay. >> Okay. >> Okay. >> And and my business partner handling >> And and my business partner handling >> And and my business partner handling everything else. everything else. everything else. >> Did you know right away like this is it? >> Did you know right away like this is it? >> Did you know right away like this is it? This is I'm going to do this for a This is I'm going to do this for a This is I'm going to do this for a while. Or were you still even after year while. Or were you still even after year while. Or were you still even after year one, were you still like, "I don't know. one, were you still like, "I don't know. one, were you still like, "I don't know. Should Should Should >> I never thought 10 million, >> I never thought 10 million, >> I never thought 10 million, but I thought enough to support myself, but I thought enough to support myself, but I thought enough to support myself, yeah. yeah. yeah. Uh we launched a an initial publication Uh we launched a an initial publication Uh we launched a an initial publication like we just did a free version of the like we just did a free version of the like we just did a free version of the magazine. Like just let us put you in magazine. Like just let us put you in magazine. Like just let us put you in and we'll show you what it's going to and we'll show you what it's going to and we'll show you what it's going to look like. And then I went around and look like. And then I went around and look like. And then I went around and had meetings all week. Uh and I'm like, had meetings all week. Uh and I'm like, had meetings all week. Uh and I'm like, "Here Here it is." And I mean, literally "Here Here it is." And I mean, literally "Here Here it is." And I mean, literally the very first meeting, the guy's like, the very first meeting, the guy's like, the very first meeting, the guy's like, "I'd do it." I was like, "Okay, cool." "I'd do it." I was like, "Okay, cool." "I'd do it." I was like, "Okay, cool." Like I'm like 25 years old. All right. Like I'm like 25 years old. All right. Like I'm like 25 years old. All right. And just meeting after meeting was like And just meeting after meeting was like And just meeting after meeting was like that. Got to a meeting where a guy's that. Got to a meeting where a guy's that. Got to a meeting where a guy's like, uh "What can you do for 10,000?" like, uh "What can you do for 10,000?" like, uh "What can you do for 10,000?" Which is way more than we were charging. Which is way more than we were charging. Which is way more than we were charging. Like how many covers can I get? So, it's Like how many covers can I get? So, it's Like how many covers can I get? So, it's just like all of a sudden like I'm just like all of a sudden like I'm just like all of a sudden like I'm calling back to my business partner calling back to my business partner calling back to my business partner every few minutes like, "Dude, there's every few minutes like, "Dude, there's every few minutes like, "Dude, there's another another another. Like there's another another another. Like there's another another another. Like there's something here." But I kept my other job something here." But I kept my other job something here." But I kept my other job for like 8 months. for like 8 months. for like 8 months. >> But so so the >> But so so the >> But so so the It's more like a brochure, but it's a It's more like a brochure, but it's a It's more like a brochure, but it's a magazine because it's it's got a lot of magazine because it's it's got a lot of magazine because it's it's got a lot of pages, but it's a brochure. I mean, pages, but it's a brochure. I mean, pages, but it's a brochure. I mean, you're just showing off other other you're just showing off other other you're just showing off other other people's stuff. people's stuff. people's stuff. >> It's not a brochure, man. You're just a >> It's not a brochure, man. You're just a >> It's not a brochure, man. You're just a magazine. magazine. magazine. >> You're just sending a magazine >> You're just sending a magazine >> You're just sending a magazine unsolicited, correct? unsolicited, correct? unsolicited, correct? >> Yes, yes, yes, yes. That's true. It's on >> Yes, yes, yes, yes. That's true. It's on >> Yes, yes, yes, yes. That's true. It's on no subscribers. no subscribers. no subscribers. >> mail. >> mail. >> mail. >> Sure. Junk Yeah. It's not It's It's not >> Sure. Junk Yeah. It's not It's It's not >> Sure. Junk Yeah. It's not It's It's not a subscriber magazine. Also, I should a subscriber magazine. Also, I should a subscriber magazine. Also, I should say I mean it's like Victoria's Secret, say I mean it's like Victoria's Secret, say I mean it's like Victoria's Secret, just underwear. just underwear. just underwear. >> Yeah, exactly. [laughter] >> A huge portion is online at this point. >> A huge portion is online at this point. Like we do drive most of our traffic Like we do drive most of our traffic Like we do drive most of our traffic online, but everyone is paying to be in online, but everyone is paying to be in online, but everyone is paying to be in the magazine. the magazine. the magazine. >> And and who is doing So, let's say I >> And and who is doing So, let's say I >> And and who is doing So, let's say I want to be in the magazine and I like want to be in the magazine and I like want to be in the magazine and I like say like, "Yeah, I'm in." Who does the say like, "Yeah, I'm in." Who does the say like, "Yeah, I'm in." Who does the artwork? Who actually makes like the artwork? Who actually makes like the artwork? Who actually makes like the pages? pages? pages? >> We handle it. >> We handle it. >> We handle it. Uh most of our designers are uh Uh most of our designers are uh Uh most of our designers are uh Yeah, Philippines, yeah, basically. Yeah, Philippines, yeah, basically. Yeah, Philippines, yeah, basically. >> And how many of them are there? Cuz they >> And how many of them are there? Cuz they >> And how many of them are there? Cuz they have 40 magazines and how often? have 40 magazines and how often? have 40 magazines and how often? Quarterly or monthly? Quarterly or monthly? Quarterly or monthly? >> They're all every once every 6 weeks. We >> They're all every once every 6 weeks. We >> They're all every once every 6 weeks. We print 30 different magazines a month. print 30 different magazines a month. print 30 different magazines a month. >> But why did you just say >> But why did you just say >> But why did you just say >> Every week we've got seven going to >> Every week we've got seven going to >> Every week we've got seven going to >> Most of it's online. >> Most of it's online. >> Most of it's online. >> Most of the exposure. So, when you're >> Most of the exposure. So, when you're >> Most of the exposure. So, when you're talking about subscribers, junk mail, talking about subscribers, junk mail, talking about subscribers, junk mail, whatever. So, like we mail copies out. whatever. So, like we mail copies out. whatever. So, like we mail copies out. We do that based on, like I said, We do that based on, like I said, We do that based on, like I said, network, things like that. And then network, things like that. And then network, things like that. And then we're also driving another, you know, we're also driving another, you know, we're also driving another, you know, 90% of our readers online. Which are 90% of our readers online. Which are 90% of our readers online. Which are then looking for people that have like then looking for people that have like then looking for people that have like recently been looking for homes, things recently been looking for homes, things recently been looking for homes, things like that. like that. like that. >> How many people work there? >> How many people work there? >> How many people work there? >> 20. >> 20. >> 20. >> So, I'm I'm confused. >> So, I'm I'm confused. >> So, I'm I'm confused. This is a dumb question. I don't really This is a dumb question. I don't really This is a dumb question. I don't really understand how junk mail works. So, I understand how junk mail works. So, I understand how junk mail works. So, I can just mail anything can just mail anything can just mail anything >> Anyone to anyone. >> Anyone to anyone. >> Anyone to anyone. >> So, >> So, >> So, I I you just look up like, hey, address I I you just look up like, hey, address I I you just look up like, hey, address it like which zip codes or neighborhoods it like which zip codes or neighborhoods it like which zip codes or neighborhoods have a certain profile. have a certain profile. have a certain profile. >> Yeah. >> Yeah. >> Yeah. >> And then you download from some site all >> And then you download from some site all >> And then you download from some site all the addresses. the addresses. the addresses. >> Yeah, it's all through the post office. >> Yeah, it's all through the post office. >> Yeah, it's all through the post office. Like you you basically can pick postal Like you you basically can pick postal Like you you basically can pick postal routes and they'll deliver. It's routes and they'll deliver. It's routes and they'll deliver. It's actually cheaper when you do that. actually cheaper when you do that. actually cheaper when you do that. >> How many magazines do you send a year? >> How many magazines do you send a year? >> How many magazines do you send a year? >> Um like half a million. >> Um like half a million. >> Um like half a million. Yeah. Yeah. Yeah. >> So, this is the post office's business >> So, this is the post office's business >> So, this is the post office's business model, right? Like basically the post model, right? Like basically the post model, right? Like basically the post office is pretty much funded by guys office is pretty much funded by guys office is pretty much funded by guys like you who are like you who are like you who are >> Like we have to make sure it stays >> Like we have to make sure it stays >> Like we have to make sure it stays within certain dimensions. It can't go within certain dimensions. It can't go within certain dimensions. It can't go over a certain amount of weight or we're over a certain amount of weight or we're over a certain amount of weight or we're It's It's It's >> The post office is basically Facebook >> The post office is basically Facebook >> The post office is basically Facebook ads. ads. ads. >> Yeah, exactly. >> Yeah, exactly. >> Yeah, exactly. >> It's Facebook. It's selling You are the >> It's Facebook. It's selling You are the >> It's Facebook. It's selling You are the product. It's selling your address and product. It's selling your address and product. It's selling your address and your mailbox without you benefiting or your mailbox without you benefiting or your mailbox without you benefiting or agreeing to it. agreeing to it. agreeing to it. >> to others. >> to others. >> to others. >> What would it take to get you to a 100 >> What would it take to get you to a 100 >> What would it take to get you to a 100 million in revenue? million in revenue? million in revenue? >> It's definitely possible. >> It's definitely possible. >> It's definitely possible. >> No, no, I'm asking in the like Asian mom >> No, no, I'm asking in the like Asian mom >> No, no, I'm asking in the like Asian mom way. Why aren't you at a 100 million? way. Why aren't you at a 100 million? way. Why aren't you at a 100 million? >> [laughter] >> [laughter] >> [laughter] >> Um yeah, I mean, it's a good question. >> Um yeah, I mean, it's a good question. >> Um yeah, I mean, it's a good question. >> Hey, I want to tell you about something >> Hey, I want to tell you about something >> Hey, I want to tell you about something pretty cool. We have a database of all pretty cool. We have a database of all pretty cool. We have a database of all of the unsexy business ideas that have of the unsexy business ideas that have of the unsexy business ideas that have been discussed on this podcast. So, been discussed on this podcast. So, been discussed on this podcast. So, hundreds of episodes, the team at hundreds of episodes, the team at hundreds of episodes, the team at HubSpot went through, they pulled out HubSpot went through, they pulled out HubSpot went through, they pulled out all the unsexy ideas. So, not the super all the unsexy ideas. So, not the super all the unsexy ideas. So, not the super high-tech ones, but the simple, high-tech ones, but the simple, high-tech ones, but the simple, relatable, interesting, profitable ideas relatable, interesting, profitable ideas relatable, interesting, profitable ideas that we have brainstormed and they're that we have brainstormed and they're that we have brainstormed and they're all available for download for free. all available for download for free. all available for download for free. Just click the link in the description Just click the link in the description Just click the link in the description below. Thank you to our friends at below. Thank you to our friends at below. Thank you to our friends at HubSpot for sponsoring this podcast and HubSpot for sponsoring this podcast and HubSpot for sponsoring this podcast and putting together this free resource for putting together this free resource for putting together this free resource for you guys. Back to the show. you guys. Back to the show. you guys. Back to the show. >> It It's kind of a question I would have >> It It's kind of a question I would have >> It It's kind of a question I would have for you, too, because I know you always for you, too, because I know you always for you, too, because I know you always say you get to 10 million, I know you say you get to 10 million, I know you say you get to 10 million, I know you can get to 100 million. So, like, how? can get to 100 million. So, like, how? can get to 100 million. So, like, how? >> Uh I think there's a few different ways. >> Uh I think there's a few different ways. >> Uh I think there's a few different ways. I don't think there's like one like I don't think there's like one like I don't think there's like one like switch a switch a switch a flip of a switch. I think there's a lot flip of a switch. I think there's a lot flip of a switch. I think there's a lot of other verticals we could be hitting. of other verticals we could be hitting. of other verticals we could be hitting. >> Uh other than real estate agents. >> Uh other than real estate agents. >> Uh other than real estate agents. >> Like >> Like >> Like >> home services, is that the sort of thing >> home services, is that the sort of thing >> home services, is that the sort of thing you're talking about? Or yeah? you're talking about? Or yeah? you're talking about? Or yeah? >> And which we do within our publication, >> And which we do within our publication, >> And which we do within our publication, but I think if it was specific to their but I think if it was specific to their but I think if it was specific to their market. market. market. >> You've told us about the business. >> You've told us about the business. >> You've told us about the business. Magazine company, aka junk mail. You Magazine company, aka junk mail. You Magazine company, aka junk mail. You send it to people. send it to people. send it to people. What's the burning question? Like, where What's the burning question? Like, where What's the burning question? Like, where could could could smart friends help you? smart friends help you? smart friends help you? >> Yeah, I mean, honestly, I do think that >> Yeah, I mean, honestly, I do think that >> Yeah, I mean, honestly, I do think that question of how do you take this from 10 question of how do you take this from 10 question of how do you take this from 10 to 100? to 100? to 100? >> Can I take a stab at helping you? So, >> Can I take a stab at helping you? So, >> Can I take a stab at helping you? So, uh first, I always want to know what's uh first, I always want to know what's uh first, I always want to know what's the default growth rate. Meaning, how the default growth rate. Meaning, how the default growth rate. Meaning, how much did you grow last year to this much did you grow last year to this much did you grow last year to this year? What What do we I What do I expect year? What What do we I What do I expect year? What What do we I What do I expect if nothing changes? if nothing changes? if nothing changes? >> 10%. >> 10%. >> 10%. >> 10%. Okay, so, to get to 100 or is your >> 10%. Okay, so, to get to 100 or is your >> 10%. Okay, so, to get to 100 or is your real goal 100? What's your real goal? real goal 100? What's your real goal? real goal 100? What's your real goal? >> My real goal is to double profit. >> My real goal is to double profit. >> My real goal is to double profit. >> Double profit. Okay, so, you might not >> Double profit. Okay, so, you might not >> Double profit. Okay, so, you might not even need to grow top line then. even need to grow top line then. even need to grow top line then. >> We grow profit faster than we grow >> We grow profit faster than we grow >> We grow profit faster than we grow revenue. revenue. revenue. >> Yeah. It seemed like when Sam was asking >> Yeah. It seemed like when Sam was asking >> Yeah. It seemed like when Sam was asking you like, who's the biggest that do in you like, who's the biggest that do in you like, who's the biggest that do in this thing? You're kind of like, we this thing? You're kind of like, we this thing? You're kind of like, we might be the biggest. might be the biggest. might be the biggest. One thing that I can immediately tell One thing that I can immediately tell One thing that I can immediately tell that's very different about you than the that's very different about you than the that's very different about you than the way both way both way both Both me and Sam are reverse engineer Both me and Sam are reverse engineer Both me and Sam are reverse engineer type guys. We like to understand what's type guys. We like to understand what's type guys. We like to understand what's working for others, how big other people working for others, how big other people working for others, how big other people are to give ourselves like we create are to give ourselves like we create are to give ourselves like we create this almost like box. And I feel like this almost like box. And I feel like this almost like box. And I feel like you don't do that as much. Is that fair? you don't do that as much. Is that fair? you don't do that as much. Is that fair? >> Definitely weakness. Yeah, yeah. >> Definitely weakness. Yeah, yeah. >> Definitely weakness. Yeah, yeah. >> But you're happy. >> But you're happy. >> But you're happy. >> Yeah. Super happy. Yeah. >> Yeah. Super happy. Yeah. >> Yeah. Super happy. Yeah. >> [laughter] >> [laughter] >> [laughter] >> What I mean is like >> What I mean is like >> What I mean is like >> To be clear, we have a sickness yeah, >> To be clear, we have a sickness yeah, >> To be clear, we have a sickness yeah, >> [laughter] >> [laughter] >> [laughter] >> and you seem fine, but we'd like to >> and you seem fine, but we'd like to >> and you seem fine, but we'd like to infect you with our sickness. infect you with our sickness. infect you with our sickness. >> He doesn't need to change. >> He doesn't need to change. >> He doesn't need to change. >> Yeah, yeah, yeah. But if you did want to >> Yeah, yeah, yeah. But if you did want to >> Yeah, yeah, yeah. But if you did want to change, change, change, here's what I might do. I think what I here's what I might do. I think what I here's what I might do. I think what I would do is maybe it's not like direct would do is maybe it's not like direct would do is maybe it's not like direct like oh, who also sends home listings, like oh, who also sends home listings, like oh, who also sends home listings, sells to realtors, but just the general sells to realtors, but just the general sells to realtors, but just the general model of mailing out magazines or model of mailing out magazines or model of mailing out magazines or informational stuff to homes and informational stuff to homes and informational stuff to homes and generating a big business off the back generating a big business off the back generating a big business off the back of that. Who else does that that's not of that. Who else does that that's not of that. Who else does that that's not exactly your space. Like are there like exactly your space. Like are there like exactly your space. Like are there like wealth management companies that grow wealth management companies that grow wealth management companies that grow this way or is there some other category this way or is there some other category this way or is there some other category that grows this way? that grows this way? that grows this way? >> I think the most I mean it's a it's a >> I think the most I mean it's a it's a >> I think the most I mean it's a it's a little different, but I think the most little different, but I think the most little different, but I think the most intriguing are like neighborhood intriguing are like neighborhood intriguing are like neighborhood publications. So I don't know if you've publications. So I don't know if you've publications. So I don't know if you've heard of Stroll. Uh but they do like heard of Stroll. Uh but they do like heard of Stroll. Uh but they do like >> is that one? >> is that one? >> is that one? >> I don't think it's Revolution. There's >> I don't think it's Revolution. There's >> I don't think it's Revolution. There's Stroll, there there there are others. Stroll, there there there are others. Stroll, there there there are others. >> It's kind of like what's going on in >> It's kind of like what's going on in >> It's kind of like what's going on in your area? Is that your area? Is that your area? Is that >> Exactly. >> Exactly. >> Exactly. >> Years ago I talked about this. I think >> Years ago I talked about this. I think >> Years ago I talked about this. I think it was called Revolution. It was a it was called Revolution. It was a it was called Revolution. It was a neighborhood publication that's a neighborhood publication that's a neighborhood publication that's a franchise model that back then we I franchise model that back then we I franchise model that back then we I think we were in real life when we did think we were in real life when we did think we were in real life when we did this actually. It was like north of 100 this actually. It was like north of 100 this actually. It was like north of 100 million. million. million. >> Yeah, they're they're definitely over >> Yeah, they're they're definitely over >> Yeah, they're they're definitely over 100 million. 100 million. 100 million. >> My gut tells me that if you did have >> My gut tells me that if you did have >> My gut tells me that if you did have dedicated home services dedicated home services dedicated home services that would be that would be that would be much much much >> And maybe there's a way to do it more >> And maybe there's a way to do it more >> And maybe there's a way to do it more informationally. So instead of the one informationally. So instead of the one informationally. So instead of the one you do right now, you're just like you do right now, you're just like you do right now, you're just like here's the homes for sale. It's kind of here's the homes for sale. It's kind of here's the homes for sale. It's kind of like utilitarian. If you just said like like utilitarian. If you just said like like utilitarian. If you just said like hey, here's all the home service hey, here's all the home service hey, here's all the home service providers that wouldn't be that great, providers that wouldn't be that great, providers that wouldn't be that great, but if it was like let's say it's winter but if it was like let's say it's winter but if it was like let's say it's winter and it's like and it's like and it's like here's the five tips every homeowner here's the five tips every homeowner here's the five tips every homeowner should do for like listical type of should do for like listical type of should do for like listical type of content. Right. And then on the inside content. Right. And then on the inside content. Right. And then on the inside there's providers, but like you just do there's providers, but like you just do there's providers, but like you just do something that's actually like the ad something that's actually like the ad something that's actually like the ad the front cover is basically like free a the front cover is basically like free a the front cover is basically like free a give. It's it's useful information, give. It's it's useful information, give. It's it's useful information, entertaining, useful information about entertaining, useful information about entertaining, useful information about about home service or home care. about home service or home care. about home service or home care. >> Yeah. And then inside you obviously have >> Yeah. And then inside you obviously have >> Yeah. And then inside you obviously have home care providers where if people home care providers where if people home care providers where if people don't want to do it themselves, they don't want to do it themselves, they don't want to do it themselves, they could hire pros to come do the stuff for could hire pros to come do the stuff for could hire pros to come do the stuff for them. I wonder if you could get good at them. I wonder if you could get good at them. I wonder if you could get good at that. But I would I would just kind of that. But I would I would just kind of that. But I would I would just kind of if I was you, I would start with a not if I was you, I would start with a not if I was you, I would start with a not an answer but a study. I would I would an answer but a study. I would I would an answer but a study. I would I would go get real familiar with what are all go get real familiar with what are all go get real familiar with what are all the other players doing in the space, the other players doing in the space, the other players doing in the space, who's big, who's not, who used to work who's big, who's not, who used to work who's big, who's not, who used to work there, go talk to them, go learn from there, go talk to them, go learn from there, go talk to them, go learn from them. Like I would kind of go on like a them. Like I would kind of go on like a them. Like I would kind of go on like a like a one-month expedition of that and like a one-month expedition of that and like a one-month expedition of that and I think you'll know so much more about I think you'll know so much more about I think you'll know so much more about >> Him and I are buddies. We talk about >> Him and I are buddies. We talk about >> Him and I are buddies. We talk about hiring all the time. I'm like, just go hiring all the time. I'm like, just go hiring all the time. I'm like, just go recruit someone who's at the bigger recruit someone who's at the bigger recruit someone who's at the bigger company and just have them come and work company and just have them come and work company and just have them come and work for you. Um why is there a world where for you. Um why is there a world where for you. Um why is there a world where instead of 40 could be 80 markets? instead of 40 could be 80 markets? instead of 40 could be 80 markets? >> It would be dicing the Well, we could go >> It would be dicing the Well, we could go >> It would be dicing the Well, we could go international. We're already in Canada, international. We're already in Canada, international. We're already in Canada, so there are markets that make sense for so there are markets that make sense for so there are markets that make sense for us to go into. But as far as 40 to 80, us to go into. But as far as 40 to 80, us to go into. But as far as 40 to 80, you would then break down the 40 into you would then break down the 40 into you would then break down the 40 into 80. It's the same geographical area. 80. It's the same geographical area. 80. It's the same geographical area. It's just going to be more cuz I mean It's just going to be more cuz I mean It's just going to be more cuz I mean we're literally covering the whole US. we're literally covering the whole US. we're literally covering the whole US. Got it. But I do think if you break it Got it. But I do think if you break it Got it. But I do think if you break it down, it's going to resonate more. Like down, it's going to resonate more. Like down, it's going to resonate more. Like there are areas that we have full states there are areas that we have full states there are areas that we have full states combined together because it's just not combined together because it's just not combined together because it's just not like Ohio, Indiana is just not that sexy like Ohio, Indiana is just not that sexy like Ohio, Indiana is just not that sexy of a market. of a market. of a market. >> Would you ever sell this? >> Would you ever sell this? >> Would you ever sell this? >> I would. It's not necessarily my goal. >> I would. It's not necessarily my goal. >> I would. It's not necessarily my goal. I'm pretty happy doing it. Yeah. I'm pretty happy doing it. Yeah. I'm pretty happy doing it. Yeah. >> That is crazy talk. >> That is crazy talk. >> That is crazy talk. >> be too happy. >> be too happy. >> be too happy. >> It is crazy talking to a like an an >> It is crazy talking to a like an an >> It is crazy talking to a like an an emotionally stable person. emotionally stable person. emotionally stable person. >> Yeah. Um you >> Yeah. Um you >> Yeah. Um you >> [laughter] >> [laughter] >> [laughter] >> you wanted to double profits and I I I >> you wanted to double profits and I I I >> you wanted to double profits and I I I wonder what would happen. Again, I think wonder what would happen. Again, I think wonder what would happen. Again, I think this is more psychological than this is more psychological than this is more psychological than strategic and I think people underrate strategic and I think people underrate strategic and I think people underrate how much of entrepreneurship is how much of entrepreneurship is how much of entrepreneurship is psychological and not strategic. psychological and not strategic. psychological and not strategic. >> Mhm. >> Mhm. >> Mhm. >> I wonder if you just decided that >> I wonder if you just decided that >> I wonder if you just decided that instead of 25% net margins, you're going instead of 25% net margins, you're going instead of 25% net margins, you're going to have 35% net margins in the next 6 to have 35% net margins in the next 6 to have 35% net margins in the next 6 months, months, months, what would happen differently? Because I what would happen differently? Because I what would happen differently? Because I think you would I think right now my think you would I think right now my think you would I think right now my read is that you would like for there to read is that you would like for there to read is that you would like for there to be more profits, but you don't really be more profits, but you don't really be more profits, but you don't really have like a I have to have more profits have like a I have to have more profits have like a I have to have more profits by this date. And if you literally just by this date. And if you literally just by this date. And if you literally just changed the way you talked about it and changed the way you talked about it and changed the way you talked about it and thought about it, I'm sure that the thought about it, I'm sure that the thought about it, I'm sure that the answers would become pretty obvious to answers would become pretty obvious to answers would become pretty obvious to you as you started. Is that true? Like you as you started. Is that true? Like you as you started. Is that true? Like do you have a do you have a do you have a a goal and a date where it's going to a goal and a date where it's going to a goal and a date where it's going to happen by? happen by? happen by? >> Yes, but it is it is more recent change >> Yes, but it is it is more recent change >> Yes, but it is it is more recent change in the mind mindset. So, in the mind mindset. So, in the mind mindset. So, >> What is the goal and the date we can >> What is the goal and the date we can >> What is the goal and the date we can hold you to? hold you to? hold you to? >> It was 1 year from a month ago. So, it's >> It was 1 year from a month ago. So, it's >> It was 1 year from a month ago. So, it's we got 11 months. we got 11 months. we got 11 months. >> To double? >> To double? >> To double? >> yeah. >> yeah. >> yeah. >> Double profit. >> Double profit. >> Double profit. >> at a double double as in double the run >> at a double double as in double the run >> at a double double as in double the run rate at that point. rate at that point. rate at that point. >> to 4 million in run rate profit. >> to 4 million in run rate profit. >> to 4 million in run rate profit. >> Five. >> Five. >> Five. >> Yeah. >> Yeah. >> Yeah. >> Five. >> Five. >> Five. >> How's the first month been in terms of >> How's the first month been in terms of >> How's the first month been in terms of if we were saying like out of 12 months if we were saying like out of 12 months if we were saying like out of 12 months you're you've already used whatever 8% you're you've already used whatever 8% you're you've already used whatever 8% of your time. Are you like doing what of your time. Are you like doing what of your time. Are you like doing what you needed to do to create a bunch of you needed to do to create a bunch of you needed to do to create a bunch of momentum or or not really? It's like momentum or or not really? It's like momentum or or not really? It's like >> Yeah, I think so. I the the main thing >> Yeah, I think so. I the the main thing >> Yeah, I think so. I the the main thing the easiest way to double profits right the easiest way to double profits right the easiest way to double profits right now, I think is retention. We already now, I think is retention. We already now, I think is retention. We already work with 10,000 plus agents every year, work with 10,000 plus agents every year, work with 10,000 plus agents every year, but we don't get them to advertise at but we don't get them to advertise at but we don't get them to advertise at that many times. So, that many times. So, that many times. So, I mean literally double retention and I mean literally double retention and I mean literally double retention and we're fine. we're fine. we're fine. >> You have the inventory yourself. >> You have the inventory yourself. >> You have the inventory yourself. >> Exactly. We have we we have the clients. >> Exactly. We have we we have the clients. >> Exactly. We have we we have the clients. Like we have people that are agreeing to Like we have people that are agreeing to Like we have people that are agreeing to advertise with us. advertise with us. advertise with us. >> Do you ask them multiple times? >> Do you ask them multiple times? >> Do you ask them multiple times? >> Yeah, we ask them every every cycle. >> Yeah, we ask them every every cycle. >> Yeah, we ask them every every cycle. >> Why don't they just do it again if >> Why don't they just do it again if >> Why don't they just do it again if they're if it's a money printer for they're if it's a money printer for they're if it's a money printer for >> times they just want it's like, you >> times they just want it's like, you >> times they just want it's like, you know, I've got a big listing. Great, know, I've got a big listing. Great, know, I've got a big listing. Great, now's the time and then they just drop now's the time and then they just drop now's the time and then they just drop off. off. off. >> Do you ever pre-sell them on like >> Do you ever pre-sell them on like >> Do you ever pre-sell them on like instead of instead of instead of this one time you say I'll give you a this one time you say I'll give you a this one time you say I'll give you a discount if you do it for 12 months? discount if you do it for 12 months? discount if you do it for 12 months? >> Yeah, yeah. I we have like 1,500 people >> Yeah, yeah. I we have like 1,500 people >> Yeah, yeah. I we have like 1,500 people that do it for the year. So, they're that do it for the year. So, they're that do it for the year. So, they're just on auto debit. So, there's a decent just on auto debit. So, there's a decent just on auto debit. So, there's a decent amount doing that. But I think there's a amount doing that. But I think there's a amount doing that. But I think there's a lot of things we can do to improve their lot of things we can do to improve their lot of things we can do to improve their experience where they're coming back experience where they're coming back experience where they're coming back every month or just every month or just every month or just I just need them to advertise one more I just need them to advertise one more I just need them to advertise one more time basically. time basically. time basically. >> you would have brought us one. >> you would have brought us one. >> you would have brought us one. >> In the last in the last okay, let's say >> In the last in the last okay, let's say >> In the last in the last okay, let's say this year, how many of those agents have this year, how many of those agents have this year, how many of those agents have you personally talked to on the phone? you personally talked to on the phone? you personally talked to on the phone? >> Zero. >> Zero. >> Zero. >> [laughter] >> [laughter] >> [laughter] >> Should I? >> Should I? >> Should I? >> Yeah, yeah, yeah. >> Yeah, yeah, yeah. >> Yeah, yeah, yeah. >> Okay. >> Okay. >> Okay. >> Not not necessarily to sell them, but >> Not not necessarily to sell them, but >> Not not necessarily to sell them, but like like like even just take your 100 top spenders, even just take your 100 top spenders, even just take your 100 top spenders, you should call every single one of them you should call every single one of them you should call every single one of them and figure out what do they love? What and figure out what do they love? What and figure out what do they love? What do they hate? Why aren't they doing it do they hate? Why aren't they doing it do they hate? Why aren't they doing it more? How do you get them Could it Are more? How do you get them Could it Are more? How do you get them Could it Are they actually it's just been out of they actually it's just been out of they actually it's just been out of sight out of mind? Oh, yeah, I I will do sight out of mind? Oh, yeah, I I will do sight out of mind? Oh, yeah, I I will do it. it. it. >> Yeah. >> Yeah. >> Yeah. >> And you will learn a lot just by taking >> And you will learn a lot just by taking >> And you will learn a lot just by taking a roster of your top 100. I also learned a roster of your top 100. I also learned a roster of your top 100. I also learned this in our our recent business that this in our our recent business that this in our our recent business that that that's done pretty well. I asked that that's done pretty well. I asked that that's done pretty well. I asked the CEO, I was like, "Hey, like this has the CEO, I was like, "Hey, like this has the CEO, I was like, "Hey, like this has gone pretty well. What what'd you do?" gone pretty well. What what'd you do?" gone pretty well. What what'd you do?" And he goes, And he goes, And he goes, "You know what I did? I came in and he "You know what I did? I came in and he "You know what I did? I came in and he goes, I tiered out our key clients as goes, I tiered out our key clients as goes, I tiered out our key clients as tier one, tier two, tier three." And he tier one, tier two, tier three." And he tier one, tier two, tier three." And he created a created a created a a definition for each. He goes, "Tier a definition for each. He goes, "Tier a definition for each. He goes, "Tier one is somebody who's they would do me a one is somebody who's they would do me a one is somebody who's they would do me a favor. I have them on a texting favor. I have them on a texting favor. I have them on a texting relationship. They know me, I know them. relationship. They know me, I know them. relationship. They know me, I know them. They would do me a favor for if with you They would do me a favor for if with you They would do me a favor for if with you know, quickly. know, quickly. know, quickly. Tier two is I got their email. We've Tier two is I got their email. We've Tier two is I got their email. We've traded some emails. We like each other. traded some emails. We like each other. traded some emails. We like each other. >> We're acquaintances. >> We're acquaintances. >> We're acquaintances. >> We're Yeah, we're we're we're friendly >> We're Yeah, we're we're we're friendly >> We're Yeah, we're we're we're friendly acquaintances. acquaintances. acquaintances. Tier three is like we're transactional. Tier three is like we're transactional. Tier three is like we're transactional. Like when they need me, they call me. Like when they need me, they call me. Like when they need me, they call me. When I need them, I call them. We When I need them, I call them. We When I need them, I call them. We haven't really talked much because that haven't really talked much because that haven't really talked much because that transaction is infrequent. transaction is infrequent. transaction is infrequent. >> Yeah. >> Yeah. >> Yeah. >> And then there's tier tier four which is >> And then there's tier tier four which is >> And then there's tier tier four which is like worse than that. like worse than that. like worse than that. And he's like, "When you do that and you And he's like, "When you do that and you And he's like, "When you do that and you just score yourself like, oh what would just score yourself like, oh what would just score yourself like, oh what would a what would a really healthy a what would a really healthy a what would a really healthy relationship look like here? What would relationship look like here? What would relationship look like here? What would a really weak relationship look like a really weak relationship look like a really weak relationship look like here?" here?" here?" And then you look at your top 100 and And then you look at your top 100 and And then you look at your top 100 and you realize, "Shit, we have no tier you realize, "Shit, we have no tier you realize, "Shit, we have no tier ones. ones. ones. >> Mhm. >> Mhm. >> Mhm. >> A couple tier twos and everybody else is >> A couple tier twos and everybody else is >> A couple tier twos and everybody else is tier three or four." tier three or four." tier three or four." Then it's like a wake-up call. Nothing Then it's like a wake-up call. Nothing Then it's like a wake-up call. Nothing bad's going to happen by talking to your bad's going to happen by talking to your bad's going to happen by talking to your top 100 customers, but a lot of good can top 100 customers, but a lot of good can top 100 customers, but a lot of good can happen from from going and talking to happen from from going and talking to happen from from going and talking to them. them. them. >> Yeah, I like that. And you could do that >> Yeah, I like that. And you could do that >> Yeah, I like that. And you could do that in 30 days. You could talk to all 100 in in 30 days. You could talk to all 100 in in 30 days. You could talk to all 100 in 30 days. 30 days. 30 days. What do you think? Are you impressed? What do you think? Are you impressed? What do you think? Are you impressed? Did you ever know that something like Did you ever know that something like Did you ever know that something like this could exist? this could exist? this could exist? >> No. It's so simple of a business, too, >> No. It's so simple of a business, too, >> No. It's so simple of a business, too, right? Like right? Like right? Like >> Yeah, it's pretty simple. >> Yeah, it's pretty simple. >> Yeah, it's pretty simple. >> The I mean the it's just they didn't >> The I mean the it's just they didn't >> The I mean the it's just they didn't even subscribe. I'm used to media even subscribe. I'm used to media even subscribe. I'm used to media businesses where it's like, "First, I businesses where it's like, "First, I businesses where it's like, "First, I win their hearts and minds and I get win their hearts and minds and I get win their hearts and minds and I get them to listen to me regularly or read them to listen to me regularly or read them to listen to me regularly or read me every day. Then I get to make money." me every day. Then I get to make money." me every day. Then I get to make money." He's like, "Read this." He's like, "Read this." He's like, "Read this." >> Ah. >> Ah. >> Ah. >> [laughter] >> [laughter] >> [laughter] >> He uh He Have you heard of >> He uh He Have you heard of >> He uh He Have you heard of >> Why aren't we doing jump sales? >> Why aren't we doing jump sales? >> Why aren't we doing jump sales? >> You know Lindy? >> You know Lindy? >> You know Lindy? >> The AI tool? >> The AI tool? >> The AI tool? >> Yeah, yeah, yeah. The >> Yeah, yeah, yeah. The >> Yeah, yeah, yeah. The Flo, the guy who started Lindy's in Flo, the guy who started Lindy's in Flo, the guy who started Lindy's in Hampton and he's like, "Alex Daniels has Hampton and he's like, "Alex Daniels has Hampton and he's like, "Alex Daniels has the most impressive AI setup I have ever the most impressive AI setup I have ever the most impressive AI setup I have ever seen." seen." seen." >> Oh. >> Oh. >> Oh. >> And that's been like a little bit of a >> And that's been like a little bit of a >> And that's been like a little bit of a claim of fame that he's had. claim of fame that he's had. claim of fame that he's had. >> What what Give me Give us a little sauce >> What what Give me Give us a little sauce >> What what Give me Give us a little sauce real quick. What are What are real quick. What are What are real quick. What are What are >> Uh we used Lindy to basic to to run the >> Uh we used Lindy to basic to to run the >> Uh we used Lindy to basic to to run the sales process. So, sales process. So, sales process. So, >> They don't have sales people? >> They don't have sales people? >> They don't have sales people? >> We do have sales people, but they're on >> We do have sales people, but they're on >> We do have sales people, but they're on they've they've shifted but where where they've they've shifted but where where they've they've shifted but where where they've really shifted to a a different they've really shifted to a a different they've really shifted to a a different focus basically, which is where I'd like focus basically, which is where I'd like focus basically, which is where I'd like them to be more of that customer them to be more of that customer them to be more of that customer experience and like getting people to experience and like getting people to experience and like getting people to come back. Uh, but Lindy is able to come back. Uh, but Lindy is able to come back. Uh, but Lindy is able to respond to the respond to the respond to the every email that's coming in, follow up every email that's coming in, follow up every email that's coming in, follow up with it, upsell them, just go through with it, upsell them, just go through with it, upsell them, just go through the whole process. But yeah, it was it's the whole process. But yeah, it was it's the whole process. But yeah, it was it's it it it was a big Lindy, which is what it it it was a big Lindy, which is what it it it was a big Lindy, which is what Flo was talking about is crazy. Flo was talking about is crazy. Flo was talking about is crazy. >> That's awesome. >> That's awesome. >> That's awesome. >> All right, appreciate you, dude. >> All right, appreciate you, dude. >> All right, appreciate you, dude. What you done is awesome, dude. What you done is awesome, dude. What you done is awesome, dude. >> All right, good to see you guys. >> All right, good to see you guys. >> All right, good to see you guys. >> We need like a name for this. >> We need like a name for this. >> We need like a name for this. >> The dragon stand, the shark tank, the >> The dragon stand, the shark tank, the >> The dragon stand, the shark tank, the >> The swimming pool. >> The swimming pool. >> The swimming pool. >> [laughter] >> [laughter] >> [laughter] >> The denim dungeon, let's go. >> The denim dungeon, let's go. >> The denim dungeon, let's go. >> dungeon. >> dungeon. >> dungeon. >> What's up? >> What's up? >> What's up? >> What's up, brother? >> What's up, brother? >> What's up, brother? >> How's it going? Have a seat. >> How's it going? Have a seat. >> How's it going? Have a seat. >> All right, your name and the impressive >> All right, your name and the impressive >> All right, your name and the impressive number. number. number. >> It is with the big number. >> It is with the big number. >> It is with the big number. >> Great. Uh, I'm Josh. I run Team >> Great. Uh, I'm Josh. I run Team >> Great. Uh, I'm Josh. I run Team Outsider. We acquire family-owned Outsider. We acquire family-owned Outsider. We acquire family-owned campgrounds and this year we'll generate campgrounds and this year we'll generate campgrounds and this year we'll generate around $20 million of revenue. around $20 million of revenue. around $20 million of revenue. >> $20 million in revenue. Okay, so uh, >> $20 million in revenue. Okay, so uh, >> $20 million in revenue. Okay, so uh, explain like I'm a a explain like I'm a a explain like I'm a a a idiot cuz I kind of am. a idiot cuz I kind of am. a idiot cuz I kind of am. Um, what do you do exactly? So, Um, what do you do exactly? So, Um, what do you do exactly? So, >> Yeah, so we acquire campgrounds >> Yeah, so we acquire campgrounds >> Yeah, so we acquire campgrounds typically from families who are looking typically from families who are looking typically from families who are looking to retire and a campground the majority to retire and a campground the majority to retire and a campground the majority of it is like a hotel, right? So, we're of it is like a hotel, right? So, we're of it is like a hotel, right? So, we're renting different spaces. Some people renting different spaces. Some people renting different spaces. Some people come in their RVs, so they have come in their RVs, so they have come in their RVs, so they have effectively a traveling hotel room. We effectively a traveling hotel room. We effectively a traveling hotel room. We also have tent spaces and cabins that we also have tent spaces and cabins that we also have tent spaces and cabins that we rent to people who don't want to stay in rent to people who don't want to stay in rent to people who don't want to stay in a tent and don't have an RV. a tent and don't have an RV. a tent and don't have an RV. >> Do you camp? When's the last time you >> Do you camp? When's the last time you >> Do you camp? When's the last time you were camping? were camping? were camping? >> Like >> Like >> Like 10 years ago, but 10 years ago, but 10 years ago, but >> Yeah. >> Yeah. >> Yeah. >> I appreciate it. >> I appreciate it. >> I appreciate it. >> I haven't gone camping in like 20 years, >> I haven't gone camping in like 20 years, >> I haven't gone camping in like 20 years, so a campground is literally just a so a campground is literally just a so a campground is literally just a piece of dirt, right? It's just the piece of dirt, right? It's just the piece of dirt, right? It's just the ground. ground. ground. >> We we have amenities, so all of our >> We we have amenities, so all of our >> We we have amenities, so all of our campgrounds have stores. We typically campgrounds have stores. We typically campgrounds have stores. We typically have a cafe where we'll sell ice cream have a cafe where we'll sell ice cream have a cafe where we'll sell ice cream and sometimes burgers and pizza. and sometimes burgers and pizza. and sometimes burgers and pizza. >> basically or >> basically or >> basically or >> We have cabins as well. Uh, we have >> We have cabins as well. Uh, we have >> We have cabins as well. Uh, we have swimming pools, lakes. At one of our swimming pools, lakes. At one of our swimming pools, lakes. At one of our campgrounds we have a go-kart track. campgrounds we have a go-kart track. campgrounds we have a go-kart track. okay. okay. okay. >> it's a very outdoorsy hotel, >> it's a very outdoorsy hotel, >> it's a very outdoorsy hotel, essentially. essentially. essentially. >> Effectively, yeah. >> Effectively, yeah. >> Effectively, yeah. >> Okay, we're looking at one here. What's >> Okay, we're looking at one here. What's >> Okay, we're looking at one here. What's like the most popular one you guys have? like the most popular one you guys have? like the most popular one you guys have? >> They're all really popular in their >> They're all really popular in their >> They're all really popular in their local communities. local communities. local communities. The first one we bought, which is right The first one we bought, which is right The first one we bought, which is right near Grand Teton and Yellowstone, is near Grand Teton and Yellowstone, is near Grand Teton and Yellowstone, is really popular, cuz that's a major really popular, cuz that's a major really popular, cuz that's a major tourist destination. We have one right tourist destination. We have one right tourist destination. We have one right outside New York City called the outside New York City called the outside New York City called the Neversink River Resort, a couple hours Neversink River Resort, a couple hours Neversink River Resort, a couple hours away, so that's really popular with away, so that's really popular with away, so that's really popular with folks who live around here. folks who live around here. folks who live around here. >> So, so give us a give us a story. What >> So, so give us a give us a story. What >> So, so give us a give us a story. What makes a guy want to buy a campground? makes a guy want to buy a campground? makes a guy want to buy a campground? How did you even realize that that's a How did you even realize that that's a How did you even realize that that's a good opportunity good opportunity good opportunity >> Yeah, so I met my partner in college, >> Yeah, so I met my partner in college, >> Yeah, so I met my partner in college, Cody. We studied Cody. We studied Cody. We studied together and started a business together and started a business together and started a business together, which was tremendously together, which was tremendously together, which was tremendously unsuccessful, but showed us that it was unsuccessful, but showed us that it was unsuccessful, but showed us that it was really good relationship. And so, we really good relationship. And so, we really good relationship. And so, we stayed friends post-college, got some stayed friends post-college, got some stayed friends post-college, got some working experience, and then working experience, and then working experience, and then realized we wanted to do something realized we wanted to do something realized we wanted to do something together again. We were looking for a together again. We were looking for a together again. We were looking for a business where two non-technical business where two non-technical business where two non-technical founders could hopefully have a winning founders could hopefully have a winning founders could hopefully have a winning situation, and we wanted a market that situation, and we wanted a market that situation, and we wanted a market that was large enough to participate in and was large enough to participate in and was large enough to participate in and interesting. interesting. interesting. One where there was an immense amount of One where there was an immense amount of One where there was an immense amount of fragmentation with ownership. One that fragmentation with ownership. One that fragmentation with ownership. One that was operationally complex, and one that was operationally complex, and one that was operationally complex, and one that was meaningful, where the team members was meaningful, where the team members was meaningful, where the team members would feel good working there, and where would feel good working there, and where would feel good working there, and where the customers would feel good about the customers would feel good about the customers would feel good about being part of it as well. So, how many being part of it as well. So, how many being part of it as well. So, how many do you own? Currently, we have 16, and do you own? Currently, we have 16, and do you own? Currently, we have 16, and there are about 4,000 sites amongst there are about 4,000 sites amongst there are about 4,000 sites amongst those in 10 states. those in 10 states. those in 10 states. >> And did you raise money? >> And did you raise money? >> And did you raise money? >> Yeah, so the first one we did with our >> Yeah, so the first one we did with our >> Yeah, so the first one we did with our own cash and an SBA loan, so just kind own cash and an SBA loan, so just kind own cash and an SBA loan, so just kind of of of >> That was the Yellowstone one? How much >> That was the Yellowstone one? How much >> That was the Yellowstone one? How much was that? was that? was that? >> About 3 million. >> About 3 million. >> About 3 million. >> And so, you how much money of yours and >> And so, you how much money of yours and >> And so, you how much money of yours and loan did you put loan did you put loan did you put >> The loan was 80 plus percent. Yeah, the >> The loan was 80 plus percent. Yeah, the >> The loan was 80 plus percent. Yeah, the rest was cash. rest was cash. rest was cash. >> Sorry, so that was an already operating >> Sorry, so that was an already operating >> Sorry, so that was an already operating site? site? site? >> Everything we buy is existing cash flow. >> Everything we buy is existing cash flow. >> Everything we buy is existing cash flow. It's been there generally for decades. It's been there generally for decades. It's been there generally for decades. Most of these are staples within their Most of these are staples within their Most of these are staples within their local communities. local communities. local communities. >> So, let's walk through that first one. >> So, let's walk through that first one. >> So, let's walk through that first one. So, you you find this property. It's So, you you find this property. It's So, you you find this property. It's doing what when you buy it? doing what when you buy it? doing what when you buy it? >> It was generating around half a million >> It was generating around half a million >> It was generating around half a million dollars of top line, of total income. dollars of top line, of total income. dollars of top line, of total income. >> Top line, and then the cash flow on that >> Top line, and then the cash flow on that >> Top line, and then the cash flow on that is what? is what? is what? >> About 35%. >> About 35%. >> About 35%. >> Can you do that for me? >> Can you do that for me? >> Can you do that for me? >> Yeah, we we >> Yeah, we we >> Yeah, we we call it 150. call it 150. call it 150. >> Okay. >> Okay. >> Okay. And you buy that for 3 million bucks. And you buy that for 3 million bucks. And you buy that for 3 million bucks. >> Mhm. >> Mhm. >> Mhm. >> [clears throat] >> [clears throat] >> [clears throat] >> Okay, so that's that's the entry and >> Okay, so that's that's the entry and >> Okay, so that's that's the entry and then you do that knowing hey, we think then you do that knowing hey, we think then you do that knowing hey, we think we we can turn that 150 into 250. What we we can turn that 150 into 250. What we we can turn that 150 into 250. What what was the what was the what was the the inside at the time? the inside at the time? the inside at the time? >> Yeah, so that one didn't have a lot of >> Yeah, so that one didn't have a lot of >> Yeah, so that one didn't have a lot of digital marketing. digital marketing. digital marketing. It was It was like a mom and pop thing. It was It was like a mom and pop thing. It was It was like a mom and pop thing. >> All of them are. >> All of them are. >> All of them are. >> And it's all everything's run on paper >> And it's all everything's run on paper >> And it's all everything's run on paper and they've been doing it forever and and they've been doing it forever and and they've been doing it forever and they're like our kids don't want this they're like our kids don't want this they're like our kids don't want this [ __ ] Do you want it? [ __ ] Do you want it? [ __ ] Do you want it? >> Exactly. So we are often times a >> Exactly. So we are often times a >> Exactly. So we are often times a succession plan for these sellers and so succession plan for these sellers and so succession plan for these sellers and so these are multi-year relationships. these are multi-year relationships. these are multi-year relationships. We've got a couple under contract right We've got a couple under contract right We've got a couple under contract right now. One of them I've been talking to now. One of them I've been talking to now. One of them I've been talking to the seller for 5 years. And generally the seller for 5 years. And generally the seller for 5 years. And generally what happens is we maintain the what happens is we maintain the what happens is we maintain the relationship and when they're ready to relationship and when they're ready to relationship and when they're ready to sell, we get the call hopefully. sell, we get the call hopefully. sell, we get the call hopefully. >> And what are you going to do to make it >> And what are you going to do to make it >> And what are you going to do to make it better? And what what what is what is better? And what what what is what is better? And what what what is what is better mean? In terms better mean? In terms better mean? In terms >> Yeah, so there there are a few things we >> Yeah, so there there are a few things we >> Yeah, so there there are a few things we can do. can do. can do. One of them is introduce just One of them is introduce just One of them is introduce just professionalize systems. So digital professionalize systems. So digital professionalize systems. So digital marketing, a better website, voice voice marketing, a better website, voice voice marketing, a better website, voice voice systems for the phone to be able to make systems for the phone to be able to make systems for the phone to be able to make sure that the training is happening the sure that the training is happening the sure that the training is happening the right way. right way. right way. >> Does digital marketing mean like Yelp >> Does digital marketing mean like Yelp >> Does digital marketing mean like Yelp and Google reviews? and Google reviews? and Google reviews? >> Google reviews, but also paid ads, a >> Google reviews, but also paid ads, a >> Google reviews, but also paid ads, a better website. Often times there's no better website. Often times there's no better website. Often times there's no digital reservation systems. We'll digital reservation systems. We'll digital reservation systems. We'll introduce that. introduce that. introduce that. >> Got it. >> Got it. >> Got it. >> Um so that's kind of on the technology >> Um so that's kind of on the technology >> Um so that's kind of on the technology side. side. side. >> I missed it. So you're like I wanted to >> I missed it. So you're like I wanted to >> I missed it. So you're like I wanted to do something with my friend. And then do something with my friend. And then do something with my friend. And then you had the like business school you had the like business school you had the like business school explanation like high fragmentation blah explanation like high fragmentation blah explanation like high fragmentation blah blah. No, no, no. Like where were you blah. No, no, no. Like where were you blah. No, no, no. Like where were you sitting when someone was like should we sitting when someone was like should we sitting when someone was like should we buy campgrounds? Or like you met a guy buy campgrounds? Or like you met a guy buy campgrounds? Or like you met a guy who was rich that bought campgrounds? who was rich that bought campgrounds? who was rich that bought campgrounds? You're like we should do that [ __ ] Like You're like we should do that [ __ ] Like You're like we should do that [ __ ] Like what actually happened? what actually happened? what actually happened? >> Great question. So our backgrounds were >> Great question. So our backgrounds were >> Great question. So our backgrounds were in hospitality and real estate. Okay. So in hospitality and real estate. Okay. So in hospitality and real estate. Okay. So there's the obvious confluence there. there's the obvious confluence there. there's the obvious confluence there. And then Cody lives in Bozeman, Montana And then Cody lives in Bozeman, Montana And then Cody lives in Bozeman, Montana and is an avid RV'er. So he said hey, and is an avid RV'er. So he said hey, and is an avid RV'er. So he said hey, like the thesis sounds interesting. Why like the thesis sounds interesting. Why like the thesis sounds interesting. Why don't you fly out here and let's drive don't you fly out here and let's drive don't you fly out here and let's drive around the country, meet some owners, around the country, meet some owners, around the country, meet some owners, team members, guests and see if this is team members, guests and see if this is team members, guests and see if this is something that actually has a little bit something that actually has a little bit something that actually has a little bit of a spark to it. So I flew out from New of a spark to it. So I flew out from New of a spark to it. So I flew out from New York, spent some time on the road York, spent some time on the road York, spent some time on the road meeting different campground owners and meeting different campground owners and meeting different campground owners and team members and guests and just fell in team members and guests and just fell in team members and guests and just fell in love with the space. love with the space. love with the space. >> And how much money have you raised in >> And how much money have you raised in >> And how much money have you raised in total now? total now? total now? >> Uh we have raised >> Uh we have raised >> Uh we have raised around $60 million. around $60 million. around $60 million. >> You raised $60 million bucks from >> You raised $60 million bucks from >> You raised $60 million bucks from What did you say? 15-ish properties? What did you say? 15-ish properties? What did you say? 15-ish properties? >> We've sold a couple, but we have 16 >> We've sold a couple, but we have 16 >> We've sold a couple, but we have 16 currently. And what is it all worth? currently. And what is it all worth? currently. And what is it all worth? >> North of 100 million. Does that mean >> North of 100 million. Does that mean >> North of 100 million. Does that mean that 40 million is you and your that 40 million is you and your that 40 million is you and your partner's equity? partner's equity? partner's equity? >> No, we've raised outside capital. So, at >> No, we've raised outside capital. So, at >> No, we've raised outside capital. So, at this point we have family offices we this point we have family offices we this point we have family offices we work with, we have a select group of work with, we have a select group of work with, we have a select group of accredited investors we work with, and accredited investors we work with, and accredited investors we work with, and we have a few institutional partners we have a few institutional partners we have a few institutional partners we've worked with as well. we've worked with as well. we've worked with as well. >> what I'm saying is of the 20 million in >> what I'm saying is of the 20 million in >> what I'm saying is of the 20 million in revenue or if you value it I don't know revenue or if you value it I don't know revenue or if you value it I don't know I don't know anything about real estate. I don't know anything about real estate. I don't know anything about real estate. However you value it, how do you get However you value it, how do you get However you value it, how do you get personal cash flow or net worth from it? personal cash flow or net worth from it? personal cash flow or net worth from it? >> Like most real estate operators, it's >> Like most real estate operators, it's >> Like most real estate operators, it's promote based, and different deals are promote based, and different deals are promote based, and different deals are different depending on the investment different depending on the investment different depending on the investment partner, right? So, we are back end partner, right? So, we are back end partner, right? So, we are back end incentivized largely for most of these. incentivized largely for most of these. incentivized largely for most of these. A typical private equity structure where A typical private equity structure where A typical private equity structure where there's a preferred return, there's a there's a preferred return, there's a there's a preferred return, there's a return of capital, and then there's a return of capital, and then there's a return of capital, and then there's a split depending on kind of who the split depending on kind of who the split depending on kind of who the investor profile is. investor profile is. investor profile is. >> And so so you when you do that first >> And so so you when you do that first >> And so so you when you do that first one, you go buy it for 3 million, it's one, you go buy it for 3 million, it's one, you go buy it for 3 million, it's doing half a million in revenue, 150k of doing half a million in revenue, 150k of doing half a million in revenue, 150k of of cash flow. of cash flow. of cash flow. What happened? What was the like success What happened? What was the like success What happened? What was the like success story of that one? Obviously it was a story of that one? Obviously it was a story of that one? Obviously it was a success or else you wouldn't have 16 success or else you wouldn't have 16 success or else you wouldn't have 16 more. more. more. >> Well, we were able to refi a couple >> Well, we were able to refi a couple >> Well, we were able to refi a couple years later. So, took all of our cash years later. So, took all of our cash years later. So, took all of our cash out. out. out. >> the income the NOI up to what? >> the income the NOI up to what? >> the income the NOI up to what? >> Uh the NOI in that one went from closer >> Uh the NOI in that one went from closer >> Uh the NOI in that one went from closer to closer to 300 at that point. to closer to 300 at that point. to closer to 300 at that point. >> Okay, so you doubled the the profit on >> Okay, so you doubled the the profit on >> Okay, so you doubled the the profit on the on the thing. Recap refinance it the on the thing. Recap refinance it the on the thing. Recap refinance it out, use that capital to go buy the next out, use that capital to go buy the next out, use that capital to go buy the next one. one. one. >> Exactly. Exactly. >> Exactly. Exactly. >> Exactly. Exactly. >> That's pretty awesome. >> That's pretty awesome. >> That's pretty awesome. >> Why are campgrounds if I'm wanted to go >> Why are campgrounds if I'm wanted to go >> Why are campgrounds if I'm wanted to go do real estate, why would I choose do real estate, why would I choose do real estate, why would I choose campgrounds instead of whatever, retail campgrounds instead of whatever, retail campgrounds instead of whatever, retail shopping, multi-family, office, shopping, multi-family, office, shopping, multi-family, office, whatever? What would I What would be my whatever? What would I What would be my whatever? What would I What would be my advantages if I was going to do this? advantages if I was going to do this? advantages if I was going to do this? >> Strong yield, it's operationally >> Strong yield, it's operationally >> Strong yield, it's operationally complex, which means there's opportunity complex, which means there's opportunity complex, which means there's opportunity to drive value, and really attractive to drive value, and really attractive to drive value, and really attractive depreciation characteristics that are depreciation characteristics that are depreciation characteristics that are similar to manufactured housing for similar to manufactured housing for similar to manufactured housing for example. So, you can depreciate the example. So, you can depreciate the example. So, you can depreciate the roads and the infrastructure, there's roads and the infrastructure, there's roads and the infrastructure, there's very limited land value in a lot of very limited land value in a lot of very limited land value in a lot of these more rural markets, limited these more rural markets, limited these more rural markets, limited building value, so the depreciation building value, so the depreciation building value, so the depreciation characteristics are also really characteristics are also really characteristics are also really attractive to people who are tax attractive to people who are tax attractive to people who are tax sensitive. sensitive. sensitive. >> Will you do this for forever? >> Will you do this for forever? >> Will you do this for forever? >> I hope so. >> I hope so. >> I hope so. >> Yeah, and you just like like looking >> Yeah, and you just like like looking >> Yeah, and you just like like looking down 10 years or 20 years down the line, down 10 years or 20 years down the line, down 10 years or 20 years down the line, where do you hope to be business-wise? where do you hope to be business-wise? where do you hope to be business-wise? >> Yeah, so look, I think the the larger >> Yeah, so look, I think the the larger >> Yeah, so look, I think the the larger opportunity as more of life moves opportunity as more of life moves opportunity as more of life moves online, I believe businesses that get online, I believe businesses that get online, I believe businesses that get people together in the real world going people together in the real world going people together in the real world going to be more valuable and to be more valuable and to be more valuable and >> there are different types of >> there are different types of >> there are different types of experience-oriented real estate that can experience-oriented real estate that can experience-oriented real estate that can speak to that thesis, but campgrounds speak to that thesis, but campgrounds speak to that thesis, but campgrounds still have a lot of runway. We still still have a lot of runway. We still still have a lot of runway. We still have a big pipeline of properties we'd have a big pipeline of properties we'd have a big pipeline of properties we'd like to be a part of, and so hopefully like to be a part of, and so hopefully like to be a part of, and so hopefully we're doing this forever. we're doing this forever. we're doing this forever. >> Who are the big dogs in this space? >> Who are the big dogs in this space? >> Who are the big dogs in this space? >> Yeah, so there are two very large REITs >> Yeah, so there are two very large REITs >> Yeah, so there are two very large REITs in this space that initially were into in this space that initially were into in this space that initially were into the manufactured housing side of the the manufactured housing side of the the manufactured housing side of the business, but recognized both from a business, but recognized both from a business, but recognized both from a depreciation perspective and also the depreciation perspective and also the depreciation perspective and also the infrastructure is very similar, right? infrastructure is very similar, right? infrastructure is very similar, right? You're renting pads and You're renting pads and You're renting pads and >> REIT? >> REIT? >> REIT? >> There are manufactured housing REITs >> There are manufactured housing REITs >> There are manufactured housing REITs that have a large portion of campground that have a large portion of campground that have a large portion of campground exposure. exposure. exposure. >> Oh, that's interesting. >> Oh, that's interesting. >> Oh, that's interesting. >> Yeah, so that was one of the ways we >> Yeah, so that was one of the ways we >> Yeah, so that was one of the ways we were researching this that we got a were researching this that we got a were researching this that we got a little more comfortable with the idea. little more comfortable with the idea. little more comfortable with the idea. >> When you're buying these, you're you're >> When you're buying these, you're you're >> When you're buying these, you're you're buying out the operator and then you put buying out the operator and then you put buying out the operator and then you put a property manager, property management a property manager, property management a property manager, property management companies companies companies >> We're we're the manager. >> We're we're the manager. >> We're we're the manager. >> You are the manager. >> You are the manager. >> You are the manager. >> Yeah, so initially we didn't think we >> Yeah, so initially we didn't think we >> Yeah, so initially we didn't think we were going to go that route. Initially, were going to go that route. Initially, were going to go that route. Initially, so Cody, my partner, went and managed so Cody, my partner, went and managed so Cody, my partner, went and managed our first location for the first year, our first location for the first year, our first location for the first year, scrubbed toilets, did the whole thing. scrubbed toilets, did the whole thing. scrubbed toilets, did the whole thing. We thought, you know, learn how to hold We thought, you know, learn how to hold We thought, you know, learn how to hold a shovel and dig a hole, and then you a shovel and dig a hole, and then you a shovel and dig a hole, and then you can hire a third party to manage it like can hire a third party to manage it like can hire a third party to manage it like most real estate sponsors do. And what most real estate sponsors do. And what most real estate sponsors do. And what we realized is A, you can't outsource we realized is A, you can't outsource we realized is A, you can't outsource culture, so that was going to be really culture, so that was going to be really culture, so that was going to be really important for our success, and B, if we important for our success, and B, if we important for our success, and B, if we wanted to scale, there weren't really, wanted to scale, there weren't really, wanted to scale, there weren't really, at least at that time, competent third at least at that time, competent third at least at that time, competent third parties that could scale with us. So, we parties that could scale with us. So, we parties that could scale with us. So, we made the decision to build an OpCo and made the decision to build an OpCo and made the decision to build an OpCo and have been managing our properties ever have been managing our properties ever have been managing our properties ever since. since. since. >> Your branding's cool. >> Your branding's cool. >> Your branding's cool. >> Thank you. >> Thank you. >> Thank you. >> Yeah, appreciate that. >> Yeah, appreciate that. >> Yeah, appreciate that. >> And when I was looking at them, I was >> And when I was looking at them, I was >> And when I was looking at them, I was like, "Oh, I would like to see this." Is like, "Oh, I would like to see this." Is like, "Oh, I would like to see this." Is there a world where you would buy buy there a world where you would buy buy there a world where you would buy buy many of them in a similar region and many of them in a similar region and many of them in a similar region and create a membership, you know, like KOA, create a membership, you know, like KOA, create a membership, you know, like KOA, is it KOA? is it KOA? is it KOA? >> actually we're actually a KOA franchisee >> actually we're actually a KOA franchisee >> actually we're actually a KOA franchisee in certain markets. in certain markets. in certain markets. >> So, how do you how do I explain KOA to >> So, how do you how do I explain KOA to >> So, how do you how do I explain KOA to someone? I mean, I I don't know that someone? I mean, I I don't know that someone? I mean, I I don't know that well. well. well. >> McDonald's of campgrounds. >> McDonald's of campgrounds. >> McDonald's of campgrounds. >> Okay. >> Okay. >> Okay. >> They've got 550 flags across the >> They've got 550 flags across the >> They've got 550 flags across the country. They own about 50 of them country. They own about 50 of them country. They own about 50 of them themselves, but they are a franchise themselves, but they are a franchise themselves, but they are a franchise work. work. work. >> No, no, they're >> No, no, they're >> No, no, they're >> But is it like he's saying where it's a >> But is it like he's saying where it's a >> But is it like he's saying where it's a membership or is it just a brand you can membership or is it just a brand you can membership or is it just a brand you can trust? trust? trust? >> You know what you're going to get when >> You know what you're going to get when >> You know what you're going to get when you you you >> It's a brand you can trust that you know >> It's a brand you can trust that you know >> It's a brand you can trust that you know what you can get. what you can get. what you can get. >> Yes, like when I when I do road trips >> Yes, like when I when I do road trips >> Yes, like when I when I do road trips and want to camp, it's like and want to camp, it's like and want to camp, it's like something might be a lot nicer, something might be a lot nicer, something might be a lot nicer, something could be a lot worse, but KOA something could be a lot worse, but KOA something could be a lot worse, but KOA I just I know what I'm rolling up on. I just I know what I'm rolling up on. I just I know what I'm rolling up on. >> Like I was talking to a a kind of like a >> Like I was talking to a a kind of like a >> Like I was talking to a a kind of like a a famous guy and he was like, "Oh, out a famous guy and he was like, "Oh, out a famous guy and he was like, "Oh, out an hour outside of cities or something an hour outside of cities or something an hour outside of cities or something called What was it? Post Card Cabins or called What was it? Post Card Cabins or called What was it? Post Card Cabins or something like that?" He's like, "Oh, I something like that?" He's like, "Oh, I something like that?" He's like, "Oh, I love going to those with my kids. It's love going to those with my kids. It's love going to those with my kids. It's like What's the What's the story there?" like What's the What's the story there?" like What's the What's the story there?" And then I looked it up and like owned And then I looked it up and like owned And then I looked it up and like owned by Marriott or something. by Marriott or something. by Marriott or something. >> They sold to Marriott last year. It's a >> They sold to Marriott last year. It's a >> They sold to Marriott last year. It's a little bit of a different model. They little bit of a different model. They little bit of a different model. They were focused on very remote single-units were focused on very remote single-units were focused on very remote single-units and destinations where you didn't have and destinations where you didn't have and destinations where you didn't have to see your neighbors. We are more to see your neighbors. We are more to see your neighbors. We are more community-focused. So, a lot of our community-focused. So, a lot of our community-focused. So, a lot of our campgrounds have seasonal guests, which campgrounds have seasonal guests, which campgrounds have seasonal guests, which basically means these are people who basically means these are people who basically means these are people who reserve the right to a specific space reserve the right to a specific space reserve the right to a specific space for the duration of the season, pay for the duration of the season, pay for the duration of the season, pay before the season starts, and come every before the season starts, and come every before the season starts, and come every year. Grandma's there, aunts and uncles year. Grandma's there, aunts and uncles year. Grandma's there, aunts and uncles are there, kids are there, everyone's are there, kids are there, everyone's are there, kids are there, everyone's been raised there, all the friends are been raised there, all the friends are been raised there, all the friends are around, so it's very sticky and around, so it's very sticky and around, so it's very sticky and communal. communal. communal. >> Mhm. >> Mhm. >> Mhm. >> But is there a world where you do brand >> But is there a world where you do brand >> But is there a world where you do brand it so it's similar to each uh each it so it's similar to each uh each it so it's similar to each uh each property has a uh maybe a a different property has a uh maybe a a different property has a uh maybe a a different stick, but it's all under one brand? stick, but it's all under one brand? stick, but it's all under one brand? >> Potentially down the road. I think real >> Potentially down the road. I think real >> Potentially down the road. I think real estate brands are inherently tough to estate brands are inherently tough to estate brands are inherently tough to scale, and until we have meaningfully scale, and until we have meaningfully scale, and until we have meaningfully more scale, that's probably not the more scale, that's probably not the more scale, that's probably not the right focus for us. But as regional right focus for us. But as regional right focus for us. But as regional concentration starts to happen, which is concentration starts to happen, which is concentration starts to happen, which is already naturally happening, already naturally happening, already naturally happening, perhaps that's something to explore. perhaps that's something to explore. perhaps that's something to explore. >> I hear you I I know nothing about real >> I hear you I I know nothing about real >> I hear you I I know nothing about real estate. When I hear you describe this, I estate. When I hear you describe this, I estate. When I hear you describe this, I think that sounds awesome. You're think that sounds awesome. You're think that sounds awesome. You're outdoors all the time. You're outdoors outdoors all the time. You're outdoors outdoors all the time. You're outdoors all the Obviously, that's not the case. all the Obviously, that's not the case. all the Obviously, that's not the case. What's the day-to-day work? Are you just What's the day-to-day work? Are you just What's the day-to-day work? Are you just like cold calling these places trying to like cold calling these places trying to like cold calling these places trying to make a deal? make a deal? make a deal? >> Writing a lot of handwritten letters, uh >> Writing a lot of handwritten letters, uh >> Writing a lot of handwritten letters, uh a lot of cold calling, a lot of checking a lot of cold calling, a lot of checking a lot of cold calling, a lot of checking up on up on up on >> found like a letter with a cookie >> found like a letter with a cookie >> found like a letter with a cookie converts better than like, you know, a converts better than like, you know, a converts better than like, you know, a call? call? call? >> A a lot a lot of it is luck. The >> A a lot a lot of it is luck. The >> A a lot a lot of it is luck. The challenge in this space is effectively challenge in this space is effectively challenge in this space is effectively our sellers are behind the front desk our sellers are behind the front desk our sellers are behind the front desk most of the time, which means in season most of the time, which means in season most of the time, which means in season they're exhausted and they don't want to they're exhausted and they don't want to they're exhausted and they don't want to take a call. take a call. take a call. >> bottleneck of the business is just >> bottleneck of the business is just >> bottleneck of the business is just getting in touch and wooing getting in touch and wooing getting in touch and wooing >> Finding people who want to sell. >> Finding people who want to sell. >> Finding people who want to sell. >> Building relationships and being the >> Building relationships and being the >> Building relationships and being the trusted succession plan. trusted succession plan. trusted succession plan. >> Because they care, they don't care it's >> Because they care, they don't care it's >> Because they care, they don't care it's not a just a money thing for them. not a just a money thing for them. not a just a money thing for them. >> Exactly. These are their friends that >> Exactly. These are their friends that >> Exactly. These are their friends that they have been personally servicing for they have been personally servicing for they have been personally servicing for often times decades. And so, whoever's often times decades. And so, whoever's often times decades. And so, whoever's taking over that relationship is a taking over that relationship is a taking over that relationship is a really important really important really important >> like a like a camp campground owners >> like a like a camp campground owners >> like a like a camp campground owners like publication or summit or podcast? like publication or summit or podcast? like publication or summit or podcast? >> there are Facebook groups and >> there are Facebook groups and >> there are Facebook groups and conventions and all those things. conventions and all those things. conventions and all those things. >> them all of the time with like the same >> them all of the time with like the same >> them all of the time with like the same thumbnail image of across all of them so thumbnail image of across all of them so thumbnail image of across all of them so everyone like starts saying like, "Oh, everyone like starts saying like, "Oh, everyone like starts saying like, "Oh, this is the guy. He seems like a good this is the guy. He seems like a good this is the guy. He seems like a good guy." guy." guy." >> A bit of that. We're We're trying to >> A bit of that. We're We're trying to >> A bit of that. We're We're trying to figure out how to do it in an authentic figure out how to do it in an authentic figure out how to do it in an authentic way. Uh and that's a tough balance cuz way. Uh and that's a tough balance cuz way. Uh and that's a tough balance cuz there's a level of mistrust around being there's a level of mistrust around being there's a level of mistrust around being over marketed to in this space. So, a over marketed to in this space. So, a over marketed to in this space. So, a lot of it is catching them on the right lot of it is catching them on the right lot of it is catching them on the right day when the campgrounds are a little day when the campgrounds are a little day when the campgrounds are a little bit less busy and they answer the phone bit less busy and they answer the phone bit less busy and they answer the phone and we can start a relationship and then and we can start a relationship and then and we can start a relationship and then you know years later when they're ready you know years later when they're ready you know years later when they're ready to sell, we get the call. to sell, we get the call. to sell, we get the call. >> This sounds pretty awesome. Is this um >> This sounds pretty awesome. Is this um >> This sounds pretty awesome. Is this um How many hours a week do you work? How many hours a week do you work? How many hours a week do you work? >> A lot. >> A lot. >> A lot. >> Yeah. >> Yeah. >> Yeah. >> You you grind? >> You you grind? >> You you grind? >> Oh, yeah. >> Oh, yeah. >> Oh, yeah. >> You're in grind mode? >> You're in grind mode? >> You're in grind mode? >> Yeah, absolutely. But I love it. >> Yeah, absolutely. But I love it. >> Yeah, absolutely. But I love it. >> There's a lot of real estate people that >> There's a lot of real estate people that >> There's a lot of real estate people that choose real estate because while real choose real estate because while real choose real estate because while real estate is work, there's a way to do it estate is work, there's a way to do it estate is work, there's a way to do it or a a or a a or a a state you can reach that is not about state you can reach that is not about state you can reach that is not about grinding and it's not about like you grinding and it's not about like you grinding and it's not about like you have a lot of flexibility and you got have a lot of flexibility and you got have a lot of flexibility and you got cash flow coming in or you're you flip a cash flow coming in or you're you flip a cash flow coming in or you're you flip a property and you can take time off. You property and you can take time off. You property and you can take time off. You know, you could do all kinds of things. know, you could do all kinds of things. know, you could do all kinds of things. Um sounds like you're approaching it Um sounds like you're approaching it Um sounds like you're approaching it more like company building than it is more like company building than it is more like company building than it is >> Company building and it's a hospitality >> Company building and it's a hospitality >> Company building and it's a hospitality business. business. business. >> Yeah. >> Yeah. >> Yeah. >> Right. We've got tens of thousands of >> Right. We've got tens of thousands of >> Right. We've got tens of thousands of guests every year, 350 people on the guests every year, 350 people on the guests every year, 350 people on the team. So, there's no team. So, there's no team. So, there's no no easy break period. no easy break period. no easy break period. >> Is there are the people you employ to >> Is there are the people you employ to >> Is there are the people you employ to run a campsite, are they pains in the run a campsite, are they pains in the run a campsite, are they pains in the asses? Like are they hippies or are they asses? Like are they hippies or are they asses? Like are they hippies or are they meth addicts? meth addicts? meth addicts? >> No, we have some amazing people that >> No, we have some amazing people that >> No, we have some amazing people that work with us. We um work with us. We um work with us. We um >> to the meth >> to the meth >> to the meth >> Yeah, please. >> Yeah, please. >> Yeah, please. >> answer the question. >> answer the question. >> answer the question. >> Actually, like the majority of our team >> Actually, like the majority of our team >> Actually, like the majority of our team is incredible. Uh they're aligned with is incredible. Uh they're aligned with is incredible. Uh they're aligned with our mission, which is to be the most our mission, which is to be the most our mission, which is to be the most hospitable team in the world, which when hospitable team in the world, which when hospitable team in the world, which when you're trying to replace a mom and pop you're trying to replace a mom and pop you're trying to replace a mom and pop operator is really important because the operator is really important because the operator is really important because the hospitality that a family provides is hospitality that a family provides is hospitality that a family provides is awesome. Really tough to beat. But we do awesome. Really tough to beat. But we do awesome. Really tough to beat. But we do have some fun stories of team members have some fun stories of team members have some fun stories of team members that haven't been the right fit. We had that haven't been the right fit. We had that haven't been the right fit. We had a a a a situation where we found out we had a situation where we found out we had a situation where we found out we had employed a convicted bank robber who had employed a convicted bank robber who had employed a convicted bank robber who had robbed nine banks and had to go robbed nine banks and had to go robbed nine banks and had to go personally fire him in person and evict personally fire him in person and evict personally fire him in person and evict >> that like? >> that like? >> that like? >> Terrifying. Yeah, he actually was >> Terrifying. Yeah, he actually was >> Terrifying. Yeah, he actually was incredibly nice and reasonable, but the incredibly nice and reasonable, but the incredibly nice and reasonable, but the drive in I was very scared. drive in I was very scared. drive in I was very scared. >> [laughter] >> [laughter] >> [laughter] >> Uh, had a another situation where we >> Uh, had a another situation where we >> Uh, had a another situation where we found out through a guest that some found out through a guest that some found out through a guest that some people in the team had been cutting down people in the team had been cutting down people in the team had been cutting down our trees and selling the wood for cash our trees and selling the wood for cash our trees and selling the wood for cash on a Facebook page. So, wasn't a great on a Facebook page. So, wasn't a great on a Facebook page. So, wasn't a great situation. Again, these are total situation. Again, these are total situation. Again, these are total outlier situations. They're just fun for outlier situations. They're just fun for outlier situations. They're just fun for conversation. conversation. conversation. >> Hey, why do you live in New York? Why do >> Hey, why do you live in New York? Why do >> Hey, why do you live in New York? Why do you do this in New York? you do this in New York? you do this in New York? >> [sighs] >> [sighs] >> [sighs] >> My family's here. My wife's here. My >> My family's here. My wife's here. My >> My family's here. My wife's here. My son's here. My parents are here. My son's here. My parents are here. My son's here. My parents are here. My in-laws are here. So, you know, when you in-laws are here. So, you know, when you in-laws are here. So, you know, when you have kids and the grandparents around. have kids and the grandparents around. have kids and the grandparents around. But, my partner's in Bozeman and look But, my partner's in Bozeman and look But, my partner's in Bozeman and look >> So, let's hit it real quick. What's the >> So, let's hit it real quick. What's the >> So, let's hit it real quick. What's the burning question? If you if you had a burning question? If you if you had a burning question? If you if you had a burning question, something that that we burning question, something that that we burning question, something that that we can give you kind of a quick maybe a can give you kind of a quick maybe a can give you kind of a quick maybe a different insight on than than as an different insight on than than as an different insight on than than as an outsider, what would be helpful? outsider, what would be helpful? outsider, what would be helpful? >> Sure. Um >> Sure. Um >> Sure. Um as you think about what we do and trying as you think about what we do and trying as you think about what we do and trying to scale culture to a team of hourly to scale culture to a team of hourly to scale culture to a team of hourly employees across 10 states states with employees across 10 states states with employees across 10 states states with this workforce, what is something that this workforce, what is something that this workforce, what is something that we could do differently to keep people we could do differently to keep people we could do differently to keep people incentivized to deliver the level of incentivized to deliver the level of incentivized to deliver the level of service that we're trying to deliver? service that we're trying to deliver? service that we're trying to deliver? And if you can solve this in 10 minutes, And if you can solve this in 10 minutes, And if you can solve this in 10 minutes, I will love you forever. I will love you forever. I will love you forever. >> Well, I actually I'll give you a quick >> Well, I actually I'll give you a quick >> Well, I actually I'll give you a quick story. So, my first business was a story. So, my first business was a story. So, my first business was a restaurant business, which has the same restaurant business, which has the same restaurant business, which has the same problem. Frontline workers in hundreds problem. Frontline workers in hundreds problem. Frontline workers in hundreds of locations if you do it right. And we of locations if you do it right. And we of locations if you do it right. And we met with the founder of Chipotle and he met with the founder of Chipotle and he met with the founder of Chipotle and he said um if you can get a frontline said um if you can get a frontline said um if you can get a frontline worker to care about the customer like worker to care about the customer like worker to care about the customer like treat this the way you're treating this treat this the way you're treating this treat this the way you're treating this first location, you'll make billions of first location, you'll make billions of first location, you'll make billions of dollars. The problem is that's the dollars. The problem is that's the dollars. The problem is that's the hardest thing in the world to do. And hardest thing in the world to do. And hardest thing in the world to do. And Chipotle actually did some pretty Chipotle actually did some pretty Chipotle actually did some pretty interesting things where like both in interesting things where like both in interesting things where like both in the naming of it like they have general the naming of it like they have general the naming of it like they have general managers. The general managers get comp. managers. The general managers get comp. managers. The general managers get comp. If any employee you ever have becomes a If any employee you ever have becomes a If any employee you ever have becomes a general manager, even if you no longer general manager, even if you no longer general manager, even if you no longer work at Chipotle, you get 10 grand in work at Chipotle, you get 10 grand in work at Chipotle, you get 10 grand in the mail. Like they do lots of things to the mail. Like they do lots of things to the mail. Like they do lots of things to like build a culture where they get like build a culture where they get like build a culture where they get people to stay longer than they normally people to stay longer than they normally people to stay longer than they normally would to work their way up the ranks to would to work their way up the ranks to would to work their way up the ranks to actually think like an owner of that actually think like an owner of that actually think like an owner of that place. And so, I would just study I'd place. And so, I would just study I'd place. And so, I would just study I'd make a list of the 15 companies that make a list of the 15 companies that make a list of the 15 companies that have already solved this problem. I have already solved this problem. I have already solved this problem. I would just study what works. I'd look would just study what works. I'd look would just study what works. I'd look for common patterns, and I would try to for common patterns, and I would try to for common patterns, and I would try to hire people who were there in the early hire people who were there in the early hire people who were there in the early days, either as consultants or or as a days, either as consultants or or as a days, either as consultants or or as a full-time person. Often, you can find full-time person. Often, you can find full-time person. Often, you can find retired people who you're not going to retired people who you're not going to retired people who you're not going to hire them, but they kind of want hire them, but they kind of want hire them, but they kind of want something to do, and they're sitting on something to do, and they're sitting on something to do, and they're sitting on this wealth of knowledge cuz they helped this wealth of knowledge cuz they helped this wealth of knowledge cuz they helped scale, you know, whatever scale, you know, whatever scale, you know, whatever some cruise line. And you know, and now some cruise line. And you know, and now some cruise line. And you know, and now they're just retired. And I think that's they're just retired. And I think that's they're just retired. And I think that's what I would do if I was going to solve what I would do if I was going to solve what I would do if I was going to solve this problem. My real-life answer is I this problem. My real-life answer is I this problem. My real-life answer is I run away from businesses that have that run away from businesses that have that run away from businesses that have that problem problem problem cuz I just I'd rather pick a different cuz I just I'd rather pick a different cuz I just I'd rather pick a different hard, but you've picked a hard. Yeah, hard, but you've picked a hard. Yeah, hard, but you've picked a hard. Yeah, good luck. good luck. good luck. >> Have you read >> Have you read >> Have you read >> [laughter] >> [laughter] >> [laughter] >> obviously you've read Will Guidara's >> obviously you've read Will Guidara's >> obviously you've read Will Guidara's Unreasonable Hospitality? Unreasonable Hospitality? Unreasonable Hospitality? We had him on the podcast, and he told We had him on the podcast, and he told We had him on the podcast, and he told two stories that was interesting cuz I two stories that was interesting cuz I two stories that was interesting cuz I was like, "Okay, this works good in a was like, "Okay, this works good in a was like, "Okay, this works good in a fancy restaurant. Where else does this fancy restaurant. Where else does this fancy restaurant. Where else does this work?" And he told two stories. The work?" And he told two stories. The work?" And he told two stories. The first one was he was like, "I worked first one was he was like, "I worked first one was he was like, "I worked with the a dealer of a Ford dealer, like with the a dealer of a Ford dealer, like with the a dealer of a Ford dealer, like a car dealer. And I worked with them. I a car dealer. And I worked with them. I a car dealer. And I worked with them. I go, "Look, let's just find like a go, "Look, let's just find like a go, "Look, let's just find like a forgotten moment where we could blow forgotten moment where we could blow forgotten moment where we could blow someone away." And we they I go he Will someone away." And we they I go he Will someone away." And we they I go he Will goes, "Let's go sit in the car. Let's goes, "Let's go sit in the car. Let's goes, "Let's go sit in the car. Let's look around." He goes, "What's in the look around." He goes, "What's in the look around." He goes, "What's in the glove box?" And the the dealer was like, glove box?" And the the dealer was like, glove box?" And the the dealer was like, "Nothing. We don't keep anything there." "Nothing. We don't keep anything there." "Nothing. We don't keep anything there." He goes, "I got it. Let's put a $15 He goes, "I got it. Let's put a $15 He goes, "I got it. Let's put a $15 Starbucks gift card in the glove box of Starbucks gift card in the glove box of Starbucks gift card in the glove box of every card, and we're going to put a every card, and we're going to put a every card, and we're going to put a note that says, "We wanted to note that says, "We wanted to note that says, "We wanted to Whenever you going to open this glove Whenever you going to open this glove Whenever you going to open this glove box, we wanted to surprise you with box, we wanted to surprise you with box, we wanted to surprise you with something special." And that's all it something special." And that's all it something special." And that's all it said. The second example where he got said. The second example where he got said. The second example where he got his team to do it, his team to do it, his team to do it, he told the story of a UPS store owner. he told the story of a UPS store owner. he told the story of a UPS store owner. Not exactly a high-margin or wonderful Not exactly a high-margin or wonderful Not exactly a high-margin or wonderful business necessarily, but he was like, business necessarily, but he was like, business necessarily, but he was like, "Every week the owner had a competition "Every week the owner had a competition "Every week the owner had a competition to whatever person did that was to whatever person did that was to whatever person did that was considered the most hospitable thing, considered the most hospitable thing, considered the most hospitable thing, they just got a $20 bill. That was it." they just got a $20 bill. That was it." they just got a $20 bill. That was it." And he was like, "Just doing that one And he was like, "Just doing that one And he was like, "Just doing that one contest, it changed the whole culture contest, it changed the whole culture contest, it changed the whole culture cuz now everyone was competing on who cuz now everyone was competing on who cuz now everyone was competing on who can be the most hospitable." And just can be the most hospitable." And just can be the most hospitable." And just like one little trick. And like like one little trick. And like like one little trick. And like grown-ups are just like kids. We just grown-ups are just like kids. We just grown-ups are just like kids. We just like stickers. like stickers. like stickers. >> Totally. >> Totally. >> Totally. >> and he told these two stories, and I was >> and he told these two stories, and I was >> and he told these two stories, and I was like, "Oh, that's those are so small." like, "Oh, that's those are so small." like, "Oh, that's those are so small." And he was like, "They tracked like And he was like, "They tracked like And he was like, "They tracked like referral business, and it and it referral business, and it and it referral business, and it and it definitely worked." And so he gave You definitely worked." And so he gave You definitely worked." And so he gave You should listen to that podcast. It's My should listen to that podcast. It's My should listen to that podcast. It's My First Million Will Guidara. It was First Million Will Guidara. It was First Million Will Guidara. It was really cool. really cool. really cool. >> Amazing. Look forward to it. >> Amazing. Look forward to it. >> Amazing. Look forward to it. >> But yeah, that guy's awesome and he and >> But yeah, that guy's awesome and he and >> But yeah, that guy's awesome and he and he gave you like some actionable tips. he gave you like some actionable tips. he gave you like some actionable tips. >> Yeah, fantastic. Thank you. Right on. >> Yeah, fantastic. Thank you. Right on. >> Yeah, fantastic. Thank you. Right on. >> Well, thanks for doing >> Well, thanks for doing >> Well, thanks for doing >> Congrats on everything, man. Thanks for >> Congrats on everything, man. Thanks for >> Congrats on everything, man. Thanks for coming on. coming on. coming on. >> Appreciate it, guys. >> Appreciate it, guys. >> Appreciate it, guys. >> All right. God bless, dude. >> All right. God bless, dude. >> All right. God bless, dude. >> All right. See you. >> All right. See you. >> All right. See you. >> Should go camping. >> Should go camping. >> Should go camping. >> Yeah, it's pretty awesome. >> Yeah, it's pretty awesome. >> Yeah, it's pretty awesome. >> [laughter] >> [laughter] >> [laughter] >> All right, the last one >> All right, the last one >> All right, the last one is going to be funny. is going to be funny. is going to be funny. >> All right, how's it going? >> All right, how's it going? >> All right, how's it going? >> What's up? >> What's up? >> What's up? >> All right. Welcome to the hot seat, the >> All right. Welcome to the hot seat, the >> All right. Welcome to the hot seat, the denim den. denim den. denim den. >> The denim den. >> The denim den. >> The denim den. >> [laughter] >> [laughter] >> [laughter] >> Is it live right now? >> Is it live right now? >> Is it live right now? >> The dudes in denim, we're live. Yes. >> The dudes in denim, we're live. Yes. >> The dudes in denim, we're live. Yes. >> Um all right, you want to give us the >> Um all right, you want to give us the >> Um all right, you want to give us the big the big big the big big the big >> the big number. Um I'm Brian. I run a >> the big number. Um I'm Brian. I run a >> the big number. Um I'm Brian. I run a company called Autopilot. We manage $1.8 company called Autopilot. We manage $1.8 company called Autopilot. We manage $1.8 billion. Um and that makes $30 million billion. Um and that makes $30 million billion. Um and that makes $30 million per year of revenue for the company. We per year of revenue for the company. We per year of revenue for the company. We started about 3 years ago for the started about 3 years ago for the started about 3 years ago for the company Autopilot. And one number that company Autopilot. And one number that company Autopilot. And one number that kind of blows my mind, I think it's a kind of blows my mind, I think it's a kind of blows my mind, I think it's a testament to testament to testament to how much people want to invest in retail how much people want to invest in retail how much people want to invest in retail traders. Um it took Bill Ackman and Ray traders. Um it took Bill Ackman and Ray traders. Um it took Bill Ackman and Ray Dalio about 10 to 15 years to start Dalio about 10 to 15 years to start Dalio about 10 to 15 years to start managing a billion dollars. managing a billion dollars. managing a billion dollars. And the fact that like Autopilot, this And the fact that like Autopilot, this And the fact that like Autopilot, this tech company that plugs into your tech company that plugs into your tech company that plugs into your Robinhood account, your Schwab account, Robinhood account, your Schwab account, Robinhood account, your Schwab account, could manage $1.8 billion, to me just could manage $1.8 billion, to me just could manage $1.8 billion, to me just blows my mind. blows my mind. blows my mind. >> I'm shocked. That's crazy. I didn't >> I'm shocked. That's crazy. I didn't >> I'm shocked. That's crazy. I didn't realize how big you guys were. So, realize how big you guys were. So, realize how big you guys were. So, what's the business do? what's the business do? what's the business do? >> Yeah, so the business we're most popular >> Yeah, so the business we're most popular >> Yeah, so the business we're most popular for launching the Nancy Pelosi stock for launching the Nancy Pelosi stock for launching the Nancy Pelosi stock tracker on Twitter. tracker on Twitter. tracker on Twitter. >> I thought your big number was going to >> I thought your big number was going to >> I thought your big number was going to be uh like 44%. That's Nancy Pelosi's be uh like 44%. That's Nancy Pelosi's be uh like 44%. That's Nancy Pelosi's annual returns. Or you know, like what annual returns. Or you know, like what annual returns. Or you know, like what are her annual returns? What does Nancy are her annual returns? What does Nancy are her annual returns? What does Nancy Pelosi do? Pelosi do? Pelosi do? >> In the last 3 years, um she's up around >> In the last 3 years, um she's up around >> In the last 3 years, um she's up around 240%. Check the app for the actual 240%. Check the app for the actual 240%. Check the app for the actual performance. I have to say that for SEC performance. I have to say that for SEC performance. I have to say that for SEC compliance. But uh she's outperformed compliance. But uh she's outperformed compliance. But uh she's outperformed the spy significantly. So, I think the the spy significantly. So, I think the the spy significantly. So, I think the spy in that same time is around is up spy in that same time is around is up spy in that same time is around is up around 30 to 40% and she's up 240%. around 30 to 40% and she's up 240%. around 30 to 40% and she's up 240%. >> In your app, I can >> In your app, I can >> In your app, I can invest alongside her picks because she's invest alongside her picks because she's invest alongside her picks because she's a politician, so a politician, so a politician, so >> Exactly. So, there >> Exactly. So, there >> Exactly. So, there >> Wait, is she she's not a politician >> Wait, is she she's not a politician >> Wait, is she she's not a politician anymore, though. anymore, though. anymore, though. >> So, her Well, she retires in January of >> So, her Well, she retires in January of >> So, her Well, she retires in January of 2027. So, we have that much time to copy 2027. So, we have that much time to copy 2027. So, we have that much time to copy her trades and follow her trades, but her trades and follow her trades, but her trades and follow her trades, but basically basically basically >> I can follow anyone. >> I can follow anyone. >> I can follow anyone. >> You can follow anyone. So, you can >> You can follow anyone. So, you can >> You can follow anyone. So, you can follow her, you can follow different follow her, you can follow different follow her, you can follow different politicians. We also take 13 apps from politicians. We also take 13 apps from politicians. We also take 13 apps from different hedge funds. And that was the different hedge funds. And that was the different hedge funds. And that was the way that we kickstarted the marketplace. way that we kickstarted the marketplace. way that we kickstarted the marketplace. I think every startup has like that I think every startup has like that I think every startup has like that chicken and egg problem they have to chicken and egg problem they have to chicken and egg problem they have to solve. Uh for a marketplace, you have solve. Uh for a marketplace, you have solve. Uh for a marketplace, you have the supply side and the demand side. And the supply side and the demand side. And the supply side and the demand side. And if you don't have anyone to follow if you don't have anyone to follow if you don't have anyone to follow that's good, you're not going to get that's good, you're not going to get that's good, you're not going to get people to come follow that person. But people to come follow that person. But people to come follow that person. But if you don't have anyone to follow, no if you don't have anyone to follow, no if you don't have anyone to follow, no one's going to want to launch on your one's going to want to launch on your one's going to want to launch on your platform. They're like, "Why am I doing platform. They're like, "Why am I doing platform. They're like, "Why am I doing this?" So, we were like Chris and I, we this?" So, we were like Chris and I, we this?" So, we were like Chris and I, we got together and we're like, "Let's just got together and we're like, "Let's just got together and we're like, "Let's just manufacture the supply side. Let's take manufacture the supply side. Let's take manufacture the supply side. Let's take publicly available information." publicly available information." publicly available information." >> Because the whole premise of Autopilot >> Because the whole premise of Autopilot >> Because the whole premise of Autopilot was was was anyone can become a head Is that anyone anyone can become a head Is that anyone anyone can become a head Is that anyone can become a head fund? can become a head fund? can become a head fund? >> Exactly. And instead of like having a >> Exactly. And instead of like having a >> Exactly. And instead of like having a Substack news newsletter where you could Substack news newsletter where you could Substack news newsletter where you could follow my contents, I can charge a follow my contents, I can charge a follow my contents, I can charge a certain amount and you could follow my certain amount and you could follow my certain amount and you could follow my trades or my portfolio that I think is trades or my portfolio that I think is trades or my portfolio that I think is good. Exactly. good. Exactly. good. Exactly. >> Got it. Okay. >> Got it. Okay. >> Got it. Okay. >> And I think there's a lot of Substack. >> And I think there's a lot of Substack. >> And I think there's a lot of Substack. I'm sure we've all like read some of I'm sure we've all like read some of I'm sure we've all like read some of them, but you don't know like the them, but you don't know like the them, but you don't know like the performance of this person. Maybe performance of this person. Maybe performance of this person. Maybe they're right one and they'll always they're right one and they'll always they're right one and they'll always post their winners. post their winners. post their winners. >> They write a very convincing case and >> They write a very convincing case and >> They write a very convincing case and then they talk about how last time they then they talk about how last time they then they talk about how last time they were right, but you only know if their were right, but you only know if their were right, but you only know if their trade is a winner. trade is a winner. trade is a winner. >> like three or four other times for that >> like three or four other times for that >> like three or four other times for that one. And so, with Autopilot, you have a one. And so, with Autopilot, you have a one. And so, with Autopilot, you have a track record of success. You can see track record of success. You can see track record of success. You can see people's winners, their losers, their people's winners, their losers, their people's winners, their losers, their performance, their entire performance, performance, their entire performance, performance, their entire performance, and then you can see how many dollars and then you can see how many dollars and then you can see how many dollars are following them, their content, etc. are following them, their content, etc. are following them, their content, etc. >> money have you raised? >> money have you raised? >> money have you raised? >> We've raised about 16 million. >> We've raised about 16 million. >> We've raised about 16 million. >> 16. >> 16. >> 16. >> Uh yeah, 16. 16. >> Uh yeah, 16. 16. >> Uh yeah, 16. 16. >> And 30 million in revenues seems like a >> And 30 million in revenues seems like a >> And 30 million in revenues seems like a good company. good company. good company. >> Yeah. >> Yeah. >> Yeah. >> What's that worth? >> What's that worth? >> What's that worth? >> I don't know. We're going out to raise a >> I don't know. We're going out to raise a >> I don't know. We're going out to raise a Series B. Um the valuations uh different Series B. Um the valuations uh different Series B. Um the valuations uh different venture firms have, you know, floated venture firms have, you know, floated venture firms have, you know, floated rounds between 300, 400 million. rounds between 300, 400 million. rounds between 300, 400 million. Which is crazy, but that is venture Which is crazy, but that is venture Which is crazy, but that is venture money. Not sure what it's actually money. Not sure what it's actually money. Not sure what it's actually worth. worth. worth. >> How How old are you? >> How How old are you? >> How How old are you? >> Uh 31. >> Uh 31. >> Uh 31. >> You start this business. What's the >> You start this business. What's the >> You start this business. What's the first idea you had here? First idea is first idea you had here? First idea is first idea you had here? First idea is what? what? what? >> Uh so, the first idea we actually >> Uh so, the first idea we actually >> Uh so, the first idea we actually started 6 years ago was an idea it was a started 6 years ago was an idea it was a started 6 years ago was an idea it was a company called Iris. Iris for the eye so company called Iris. Iris for the eye so company called Iris. Iris for the eye so you could see into other people's you could see into other people's you could see into other people's portfolios. I was trading on Robinhood. portfolios. I was trading on Robinhood. portfolios. I was trading on Robinhood. >> You've been thinking >> You've been thinking >> You've been thinking >> about this idea for like six plus years. >> about this idea for like six plus years. >> about this idea for like six plus years. >> Yeah. >> Yeah. >> Yeah. Yeah, and I think like like we all kind Yeah, and I think like like we all kind Yeah, and I think like like we all kind of of of any retail trader, if I don't know if any retail trader, if I don't know if any retail trader, if I don't know if you guys invest in the stock market you guys invest in the stock market you guys invest in the stock market yourself on an app, yourself on an app, yourself on an app, >> Yeah. >> Yeah. >> Yeah. >> anyone's like there's stocks that just >> anyone's like there's stocks that just >> anyone's like there's stocks that just fly and it's kind of obvious. Like I fly and it's kind of obvious. Like I fly and it's kind of obvious. Like I remember buying Nvidia or buying Tesla remember buying Nvidia or buying Tesla remember buying Nvidia or buying Tesla and you're like and you're like and you're like some things are just obvious to younger some things are just obvious to younger some things are just obvious to younger people, but if you just people, but if you just people, but if you just like don't do the research, you're not like don't do the research, you're not like don't do the research, you're not going to get those asymmetric gains. going to get those asymmetric gains. going to get those asymmetric gains. >> Yeah, but most people don't do the >> Yeah, but most people don't do the >> Yeah, but most people don't do the research. research. research. >> Most Yeah, most people don't and I and I >> Most Yeah, most people don't and I and I >> Most Yeah, most people don't and I and I think think think >> And most things I think are obvious are >> And most things I think are obvious are >> And most things I think are obvious are wrong. wrong. wrong. >> [laughter] >> [laughter] >> [laughter] >> Most time when I invest, I lose, but >> Most time when I invest, I lose, but >> Most time when I invest, I lose, but >> That that is fair and there's All right, >> That that is fair and there's All right, >> That that is fair and there's All right, do you have like the inverse Cramer do you have like the inverse Cramer do you have like the inverse Cramer effect or effect or effect or >> No, no, no. >> No, no, no. >> No, no, no. >> But I think I think there are certain >> But I think I think there are certain >> But I think I think there are certain people who just have a knack for it and people who just have a knack for it and people who just have a knack for it and I think we were talking earlier about I think we were talking earlier about I think we were talking earlier about like how most people should just invest like how most people should just invest like how most people should just invest in index funds. I would say I think in index funds. I would say I think in index funds. I would say I think that's true for the most part because a that's true for the most part because a that's true for the most part because a lot of people want to do it themselves, lot of people want to do it themselves, lot of people want to do it themselves, especially I think there's this advent especially I think there's this advent especially I think there's this advent of DIY, of DIY, of DIY, but I think the goal is for autopilot, but I think the goal is for autopilot, but I think the goal is for autopilot, for you to find someone who you have for you to find someone who you have for you to find someone who you have confidence in and can see the track confidence in and can see the track confidence in and can see the track record of success. Where you put like 10 record of success. Where you put like 10 record of success. Where you put like 10 to 20% of your net worth, not all of it, to 20% of your net worth, not all of it, to 20% of your net worth, not all of it, but in about 10 to 20% in these but in about 10 to 20% in these but in about 10 to 20% in these high-risk, high-reward strategies. high-risk, high-reward strategies. high-risk, high-reward strategies. >> what's fun Wait, so we're we're doing >> what's fun Wait, so we're we're doing >> what's fun Wait, so we're we're doing this Ray Dalio thing tomorrow, we're this Ray Dalio thing tomorrow, we're this Ray Dalio thing tomorrow, we're interviewing him, and he started as a interviewing him, and he started as a interviewing him, and he started as a newsletter. It was like a $1,500 a month newsletter. It was like a $1,500 a month newsletter. It was like a $1,500 a month newsletter that's smart and then someone newsletter that's smart and then someone newsletter that's smart and then someone was like, "Hey, if you think you're the was like, "Hey, if you think you're the was like, "Hey, if you think you're the man, then why don't you have your own man, then why don't you have your own man, then why don't you have your own fund?" And like you know what I mean? fund?" And like you know what I mean? fund?" And like you know what I mean? And he's like, "Maybe I will." And he's like, "Maybe I will." And he's like, "Maybe I will." >> And now he has the biggest one. >> And now he has the biggest one. >> And now he has the biggest one. >> Yeah, now he has the biggest one. >> Yeah, now he has the biggest one. >> Yeah, now he has the biggest one. >> And so my question is like why doesn't I >> And so my question is like why doesn't I >> And so my question is like why doesn't I I think you know uh Motley Fool? So I think you know uh Motley Fool? So I think you know uh Motley Fool? So Motley Fool does nine figures a year in Motley Fool does nine figures a year in Motley Fool does nine figures a year in subscription revenue. So for you don't subscription revenue. So for you don't subscription revenue. So for you don't know, Motley Fool, you give them $100 or know, Motley Fool, you give them $100 or know, Motley Fool, you give them $100 or some amount of money and they give you some amount of money and they give you some amount of money and they give you stock picks, but they also have a fund stock picks, but they also have a fund stock picks, but they also have a fund where they invest in their own picks and where they invest in their own picks and where they invest in their own picks and I think they have over a billion AUM. I think they have over a billion AUM. I think they have over a billion AUM. It's all public, you can like look it It's all public, you can like look it It's all public, you can like look it up. So will like every financial blogger up. So will like every financial blogger up. So will like every financial blogger who like is a stock picker like be an who like is a stock picker like be an who like is a stock picker like be an autopilot person? autopilot person? autopilot person? >> Yeah, I think that's going to happen. We >> Yeah, I think that's going to happen. We >> Yeah, I think that's going to happen. We have a have a have a >> But then there's going to be way less of >> But then there's going to be way less of >> But then there's going to be way less of them because everyone's going to be able them because everyone's going to be able them because everyone's going to be able to see who's legit and who's not. to see who's legit and who's not. to see who's legit and who's not. >> Yeah, so exactly. And so we have a 6,000 >> Yeah, so exactly. And so we have a 6,000 >> Yeah, so exactly. And so we have a 6,000 person waitlist to like launch a person waitlist to like launch a person waitlist to like launch a portfolio on autopilot. So we do a lot portfolio on autopilot. So we do a lot portfolio on autopilot. So we do a lot of due diligence. We look at uh the of due diligence. We look at uh the of due diligence. We look at uh the track record of success. We'll look at track record of success. We'll look at track record of success. We'll look at We'll analyze their actual portfolio. We'll analyze their actual portfolio. We'll analyze their actual portfolio. Cuz for example, if you run a Cuz for example, if you run a Cuz for example, if you run a newsletter, but your actual portfolio is newsletter, but your actual portfolio is newsletter, but your actual portfolio is bad, we don't really want you on the bad, we don't really want you on the bad, we don't really want you on the platform. platform. platform. >> Who's the most famous or successful >> Who's the most famous or successful >> Who's the most famous or successful person that launched their portfolio on person that launched their portfolio on person that launched their portfolio on here? Not like you're tracking the here? Not like you're tracking the here? Not like you're tracking the politicians. politicians. politicians. >> Peter Wolfe. And so, I checked out his >> Peter Wolfe. And so, I checked out his >> Peter Wolfe. And so, I checked out his personal Robinhood account, and I was personal Robinhood account, and I was personal Robinhood account, and I was like, "This guy's up 200%." like, "This guy's up 200%." like, "This guy's up 200%." >> check someone's personal Robinhood? >> check someone's personal Robinhood? >> check someone's personal Robinhood? >> So, I I just by like I would go on a >> So, I I just by like I would go on a >> So, I I just by like I would go on a video call and I would look at it. But video call and I would look at it. But video call and I would look at it. But right now, we have tech where he could right now, we have tech where he could right now, we have tech where he could actually connect his Robinhood account actually connect his Robinhood account actually connect his Robinhood account to our platform, and we could analyze to our platform, and we could analyze to our platform, and we could analyze it. And 200% but it. And 200% but it. And 200% but over over over 3 years. And I was like, over over over 3 years. And I was like, over over over 3 years. And I was like, "All right, 200% over 3 years." "All right, 200% over 3 years." "All right, 200% over 3 years." >> right? 3 years is like >> right? 3 years is like >> right? 3 years is like >> Yeah. Yeah. >> Yeah. Yeah. >> Yeah. Yeah. I mean, you're right. And it's like, I mean, you're right. And it's like, I mean, you're right. And it's like, "What does it do in a downturn?" Um but "What does it do in a downturn?" Um but "What does it do in a downturn?" Um but I liked the way he was thinking about I liked the way he was thinking about I liked the way he was thinking about what he does to what he does to what he does to hedge against risk. And I was like, "You hedge against risk. And I was like, "You hedge against risk. And I was like, "You know what? Like launch him on the know what? Like launch him on the know what? Like launch him on the platform. We'll figure it out." platform. We'll figure it out." platform. We'll figure it out." >> of like You're You are like the >> of like You're You are like the >> of like You're You are like the editorial team. You're You're the editorial team. You're You're the editorial team. You're You're the American Idol. You're letting them sort American Idol. You're letting them sort American Idol. You're letting them sort of audition. You're picking, right? of audition. You're picking, right? of audition. You're picking, right? >> Yeah. So, you're picking the pickers. >> Yeah. So, you're picking the pickers. >> Yeah. So, you're picking the pickers. >> Then they launch their portfolio. People >> Then they launch their portfolio. People >> Then they launch their portfolio. People then pay up front to do it, or people then pay up front to do it, or people then pay up front to do it, or people just copy the trade and you get it You just copy the trade and you get it You just copy the trade and you get it You that person gets a commission. that person gets a commission. that person gets a commission. >> There's like a subscription fee, very >> There's like a subscription fee, very >> There's like a subscription fee, very similar to Substack. similar to Substack. similar to Substack. >> How much? >> How much? >> How much? >> Um the pilot could We call them pilots. >> Um the pilot could We call them pilots. >> Um the pilot could We call them pilots. They could set it. It ranges from 100 They could set it. It ranges from 100 They could set it. It ranges from 100 bucks a year to 500 bucks a year. bucks a year to 500 bucks a year. bucks a year to 500 bucks a year. >> And so, they do that Um how much are the >> And so, they do that Um how much are the >> And so, they do that Um how much are the top people making as top people making as top people making as >> The top people are making around 1 to 2 >> The top people are making around 1 to 2 >> The top people are making around 1 to 2 million dollars per year on Autopilot. million dollars per year on Autopilot. million dollars per year on Autopilot. >> Woah. Okay. >> Woah. Okay. >> Woah. Okay. >> And that's outside of their stock >> And that's outside of their stock >> And that's outside of their stock trading. trading. trading. >> That's That's all Yeah, that's >> That's That's all Yeah, that's >> That's That's all Yeah, that's just their Autopilot. just their Autopilot. just their Autopilot. >> And so, they And so, that's like >> And so, they And so, that's like >> And so, they And so, that's like That means they have how many That means they have how many That means they have how many subscribers? Like 10,000 subscribers? subscribers? Like 10,000 subscribers? subscribers? Like 10,000 subscribers? 100,000? 100,000? 100,000? >> Uh it depends on how much they charge. >> Uh it depends on how much they charge. >> Uh it depends on how much they charge. But for example, Peter Wolfe has around But for example, Peter Wolfe has around But for example, Peter Wolfe has around 220 million dollars following him on 220 million dollars following him on 220 million dollars following him on Autopilot. Autopilot. Autopilot. >> Oh, so you see like how many dollars are >> Oh, so you see like how many dollars are >> Oh, so you see like how many dollars are backing you? backing you? backing you? >> Yeah. And so, again, for example, uh >> Yeah. And so, again, for example, uh >> Yeah. And so, again, for example, uh this is a stat that we pull. Uh Bill this is a stat that we pull. Uh Bill this is a stat that we pull. Uh Bill Ackman, who traditionally raised a lot Ackman, who traditionally raised a lot Ackman, who traditionally raised a lot of money really quickly when he of money really quickly when he of money really quickly when he graduated Harvard, it took him about graduated Harvard, it took him about graduated Harvard, it took him about five years to raise $60 million. five years to raise $60 million. five years to raise $60 million. This guy on Autopilot within 1 year This guy on Autopilot within 1 year This guy on Autopilot within 1 year raised $220 million. So raised $220 million. So raised $220 million. So >> So you're basically it's kind of like um >> So you're basically it's kind of like um >> So you're basically it's kind of like um Justin Bieber was YouTube native, right? Justin Bieber was YouTube native, right? Justin Bieber was YouTube native, right? He was a YouTuber first and became He was a YouTuber first and became He was a YouTuber first and became Justin Bieber. And you're basically Justin Bieber. And you're basically Justin Bieber. And you're basically saying like the next Bill Ackman, the saying like the next Bill Ackman, the saying like the next Bill Ackman, the next generation's Ray Dalio next generation's Ray Dalio next generation's Ray Dalio is going to come from the Autopilot or is going to come from the Autopilot or is going to come from the Autopilot or from you guys. from you guys. from you guys. >> Do I put my money into Peter's fund? >> Do I put my money into Peter's fund? >> Do I put my money into Peter's fund? >> Yes, what would happen is you connect >> Yes, what would happen is you connect >> Yes, what would happen is you connect your Robinhood account or whatever your Robinhood account or whatever your Robinhood account or whatever brokerage you have and it it brokerage you have and it it brokerage you have and it it automatically follows his fund. So when automatically follows his fund. So when automatically follows his fund. So when he makes a trade, we send a notification he makes a trade, we send a notification he makes a trade, we send a notification to your brokerage to automatically buy to your brokerage to automatically buy to your brokerage to automatically buy or sell that security. or sell that security. or sell that security. >> Copy trade. >> Copy trade. >> Copy trade. >> But it's not giving the money to the >> But it's not giving the money to the >> But it's not giving the money to the guy. guy. guy. >> Yeah, and that and that's actually the >> Yeah, and that and that's actually the >> Yeah, and that and that's actually the money in your Robinhood. money in your Robinhood. money in your Robinhood. >> Yeah, and that's that's how we are able >> Yeah, and that's that's how we are able >> Yeah, and that's that's how we are able to operate from a legal standpoint. to operate from a legal standpoint. to operate from a legal standpoint. Whenever you're giving custody of assets Whenever you're giving custody of assets Whenever you're giving custody of assets away to someone, the SEC gets really away to someone, the SEC gets really away to someone, the SEC gets really involved. Is that a brokerage you have involved. Is that a brokerage you have involved. Is that a brokerage you have custody? That's when a lot of regulation custody? That's when a lot of regulation custody? That's when a lot of regulation pops up. pops up. pops up. >> the business? >> the business? >> the business? >> It's >> It's >> It's Autopilot. It we've been running Autopilot. It we've been running Autopilot. It we've been running Autopilot for 3 years, but the entire Autopilot for 3 years, but the entire Autopilot for 3 years, but the entire business like structure is 6 years. business like structure is 6 years. business like structure is 6 years. >> So Autopilot has existed in 3 awesome >> So Autopilot has existed in 3 awesome >> So Autopilot has existed in 3 awesome years. years. years. >> Yeah. >> Yeah. >> Yeah. >> What's going to happen in 6 years when >> What's going to happen in 6 years when >> What's going to happen in 6 years when you have 3 [ __ ] years? you have 3 [ __ ] years? you have 3 [ __ ] years? >> If we have 3 [ __ ] years. >> If we have 3 [ __ ] years. >> If we have 3 [ __ ] years. >> Like stock market [ __ ] years. That's >> Like stock market [ __ ] years. That's >> Like stock market [ __ ] years. That's what he's saying. what he's saying. what he's saying. >> I I think what we see is the retail >> I I think what we see is the retail >> I I think what we see is the retail investor right now perseveres longer investor right now perseveres longer investor right now perseveres longer than they used to. than they used to. than they used to. 3 years is a long time. 3 years is a long time. 3 years is a long time. Um I would say if it was like 3 years Um I would say if it was like 3 years Um I would say if it was like 3 years downturn like consistently, I feel like downturn like consistently, I feel like downturn like consistently, I feel like the whole world will there will be a lot the whole world will there will be a lot the whole world will there will be a lot of questions for the whole world. But I of questions for the whole world. But I of questions for the whole world. But I think that happens. think that happens. think that happens. >> Well, it happens to like Robinhood and >> Well, it happens to like Robinhood and >> Well, it happens to like Robinhood and these other guys, right? Like what what these other guys, right? Like what what these other guys, right? Like what what do you mean? do you mean? do you mean? >> I think 3 years straight it hasn't >> I think 3 years straight it hasn't >> I think 3 years straight it hasn't really happened, but I think you'll see really happened, but I think you'll see really happened, but I think you'll see like 1 and 1/2 years um happen. So like 1 and 1/2 years um happen. So like 1 and 1/2 years um happen. So >> And Robinhood >> And Robinhood >> And Robinhood almost died almost died almost died but they they didn't because they had but they they didn't because they had but they they didn't because they had raised billions of dollars. raised billions of dollars. raised billions of dollars. >> Yeah, and they they had an emergency >> Yeah, and they they had an emergency >> Yeah, and they they had an emergency funding round. funding round. funding round. >> Yeah, so like it was a near-death >> Yeah, so like it was a near-death >> Yeah, so like it was a near-death moment. moment. moment. >> When was that? During the GameStop >> When was that? During the GameStop >> When was that? During the GameStop >> during GameStop. Um they were about to >> during GameStop. Um they were about to >> during GameStop. Um they were about to go under and I think they had raised $40 go under and I think they had raised $40 go under and I think they had raised $40 billion like immediately. Um and or not billion like immediately. Um and or not billion like immediately. Um and or not sorry for $4 billion immediately. sorry for $4 billion immediately. sorry for $4 billion immediately. >> Because they needed liquidity? >> Because they needed liquidity? >> Because they needed liquidity? >> There's >> There's >> There's >> something with like being a brokerage >> something with like being a brokerage >> something with like being a brokerage and like the DTCC, not too familiar with and like the DTCC, not too familiar with and like the DTCC, not too familiar with it, but they're like you need to post up it, but they're like you need to post up it, but they're like you need to post up this money. They're we don't have it. this money. They're we don't have it. this money. They're we don't have it. >> Are people nervous to invest or are >> Are people nervous to invest or are >> Are people nervous to invest or are venture venture guys that nervous to venture venture guys that nervous to venture venture guys that nervous to invest? invest? invest? >> I think what we've seen in venture is >> I think what we've seen in venture is >> I think what we've seen in venture is just AI wave just AI wave just AI wave um and it's just not fintech was sexy in um and it's just not fintech was sexy in um and it's just not fintech was sexy in 2020 2021. Right now with our metrics, I 2020 2021. Right now with our metrics, I 2020 2021. Right now with our metrics, I would think it would be very exciting would think it would be very exciting would think it would be very exciting for venture capital. for venture capital. for venture capital. >> like we have some friends in fintech, >> like we have some friends in fintech, >> like we have some friends in fintech, like a lot of fintech companies make like a lot of fintech companies make like a lot of fintech companies make like no revenue. Like, you know, you like no revenue. Like, you know, you like no revenue. Like, you know, you could be like could be like could be like what's the thing called? Wealthfront. what's the thing called? Wealthfront. what's the thing called? Wealthfront. And you could have billions of dollars And you could have billions of dollars And you could have billions of dollars in AUM and like your fees are so tiny in AUM and like your fees are so tiny in AUM and like your fees are so tiny that so you're making 30 actual million that so you're making 30 actual million that so you're making 30 actual million in revenue. in revenue. in revenue. >> yeah, I think >> yeah, I think >> yeah, I think >> like >> like >> like >> Yeah, >> Yeah, >> Yeah, so right now because we've launched our so right now because we've launched our so right now because we've launched our own portfolios where we take 100% of the own portfolios where we take 100% of the own portfolios where we take 100% of the revenue. Like the Pelosi portfolio is revenue. Like the Pelosi portfolio is revenue. Like the Pelosi portfolio is ours, so we get 100% of that revenue. ours, so we get 100% of that revenue. ours, so we get 100% of that revenue. Um our GMV revenue is 30 million, but Um our GMV revenue is 30 million, but Um our GMV revenue is 30 million, but our autopilot ARR is around 22 million. our autopilot ARR is around 22 million. our autopilot ARR is around 22 million. >> Okay, so you have more real revenue than >> Okay, so you have more real revenue than >> Okay, so you have more real revenue than like remember Ankur was doing carry and like remember Ankur was doing carry and like remember Ankur was doing carry and like he had like a billion in AUM, but like he had like a billion in AUM, but like he had like a billion in AUM, but the revenue was like literally a the revenue was like literally a the revenue was like literally a million. million. million. >> I I think yeah, I know that's that to me >> I I think yeah, I know that's that to me >> I I think yeah, I know that's that to me always blows my mind. I think the thing always blows my mind. I think the thing always blows my mind. I think the thing that's interesting about us is that's interesting about us is that's interesting about us is when you look at other traditional asset when you look at other traditional asset when you look at other traditional asset managers, they just put your money in managers, they just put your money in managers, they just put your money in like ETFs and like mutual funds and like ETFs and like mutual funds and like ETFs and like mutual funds and there's no real alpha they're trying to there's no real alpha they're trying to there's no real alpha they're trying to get you, so they can't really charge get you, so they can't really charge get you, so they can't really charge that much money cuz you're like, why that much money cuz you're like, why that much money cuz you're like, why would I go to them? Why don't I just go would I go to them? Why don't I just go would I go to them? Why don't I just go to Wealthfront that charge like 0.1%? to Wealthfront that charge like 0.1%? to Wealthfront that charge like 0.1%? And so with Autopilot, the reason you And so with Autopilot, the reason you And so with Autopilot, the reason you pay so much uh pay so much uh pay so much uh is because these people are they're is because these people are they're is because these people are they're they're the hope is that they outperform they're the hope is that they outperform they're the hope is that they outperform the market. Um and so I think the the market. Um and so I think the the market. Um and so I think the average AUM that people pay on Autopilot average AUM that people pay on Autopilot average AUM that people pay on Autopilot is around 3 to 4%. is around 3 to 4%. is around 3 to 4%. >> Does Nancy Pelosi hate you? >> Does Nancy Pelosi hate you? >> Does Nancy Pelosi hate you? >> Probably, I would say. >> Probably, I would say. >> Probably, I would say. >> Have you guys interacted like >> Have you guys interacted like >> Have you guys interacted like >> met. >> met. >> met. >> No cease and desist even from her like >> No cease and desist even from her like >> No cease and desist even from her like >> No, no. >> No, no. >> No, no. >> Wow, Nancy. >> Wow, Nancy. >> Wow, Nancy. >> There there >> There there >> There there >> All right, Pelosi >> All right, Pelosi >> All right, Pelosi >> Or she's getting soft in her old age. >> Or she's getting soft in her old age. >> Or she's getting soft in her old age. >> [laughter] >> [laughter] >> [laughter] >> Yeah, I mean the goal is when she >> Yeah, I mean the goal is when she >> Yeah, I mean the goal is when she retires we retires we retires we we try to have her actually join the we try to have her actually join the we try to have her actually join the fund and have a commercial. fund and have a commercial. fund and have a commercial. We we did sponsor the UFC and got a fake We we did sponsor the UFC and got a fake We we did sponsor the UFC and got a fake Nancy Pelosi. Did you see this? Nancy Pelosi. Did you see this? Nancy Pelosi. Did you see this? >> This is incredible. >> This is incredible. >> This is incredible. >> Um and so the the goal was this was the >> Um and so the the goal was this was the >> Um and so the the goal was this was the UFC before the election and Trump was UFC before the election and Trump was UFC before the election and Trump was supposed to sit row one at the UFC. And supposed to sit row one at the UFC. And supposed to sit row one at the UFC. And we were like, wouldn't it be funny if we we were like, wouldn't it be funny if we we were like, wouldn't it be funny if we sponsored the UFC and it shows Invest sponsored the UFC and it shows Invest sponsored the UFC and it shows Invest Like a Politician right in front of Like a Politician right in front of Like a Politician right in front of Donald Trump and then we have a fake Donald Trump and then we have a fake Donald Trump and then we have a fake Nancy Pelosi right by him. Nancy Pelosi right by him. Nancy Pelosi right by him. >> Like you bought a ticket or or as part >> Like you bought a ticket or or as part >> Like you bought a ticket or or as part of the sponsorship? of the sponsorship? of the sponsorship? >> had the ring sponsorship at >> had the ring sponsorship at >> had the ring sponsorship at >> Yeah, we had the ring sponsorship >> Yeah, we had the ring sponsorship >> Yeah, we had the ring sponsorship >> Yeah. >> Yeah. >> Yeah. >> And then they hired a look-alike Nancy >> And then they hired a look-alike Nancy >> And then they hired a look-alike Nancy Pelosi and they had her walk in, they Pelosi and they had her walk in, they Pelosi and they had her walk in, they had like them You had like kind of had like them You had like kind of had like them You had like kind of social content of her entering the social content of her entering the social content of her entering the arena. arena. arena. >> Did you have to actually buy that >> Did you have to actually buy that >> Did you have to actually buy that ticket? ticket? ticket? >> We had to buy that ticket. That ticket >> We had to buy that ticket. That ticket >> We had to buy that ticket. That ticket row one was $60,000. row one was $60,000. row one was $60,000. >> No way. >> No way. >> No way. >> How much you spend on the whole >> How much you spend on the whole >> How much you spend on the whole marketing buy? marketing buy? marketing buy? >> About $450,000. >> About $450,000. >> About $450,000. >> Did it help? >> Did it help? >> Did it help? >> Um it didn't help directly. I think the >> Um it didn't help directly. I think the >> Um it didn't help directly. I think the brand affinity was there. Would I do it brand affinity was there. Would I do it brand affinity was there. Would I do it again? Probably not. It would have again? Probably not. It would have again? Probably not. It would have helped if Trump was actually showed up. helped if Trump was actually showed up. helped if Trump was actually showed up. >> Did he end up showing up? >> Did he end up showing up? >> Did he end up showing up? >> [clears throat] >> [clears throat] >> [clears throat] >> There was an assassination attempt, so >> There was an assassination attempt, so >> There was an assassination attempt, so there was and I was like, dang, he's not there was and I was like, dang, he's not there was and I was like, dang, he's not here, but I'm I'm glad he's safe. But I here, but I'm I'm glad he's safe. But I here, but I'm I'm glad he's safe. But I think if he did show up, I think the think if he did show up, I think the think if he did show up, I think the the media that would have been picked the media that would have been picked the media that would have been picked up, the earned media would have been up, the earned media would have been up, the earned media would have been insane. insane. insane. >> Hey, it was ballsy >> Hey, it was ballsy >> Hey, it was ballsy and and sometimes you got to do what you and and sometimes you got to do what you and and sometimes you got to do what you got to do. That's I think it's cool. got to do. That's I think it's cool. got to do. That's I think it's cool. We're still talking about it now, right? We're still talking about it now, right? We're still talking about it now, right? >> Exactly. That's that's that's fair. >> Exactly. That's that's that's fair. >> Exactly. That's that's that's fair. >> That that that happens when you do >> That that that happens when you do >> That that that happens when you do unique over the top things, so that's unique over the top things, so that's unique over the top things, so that's amazing. amazing. amazing. >> Yeah, we're trying to think of the next >> Yeah, we're trying to think of the next >> Yeah, we're trying to think of the next stunt, but stunt, but stunt, but we'll see. we'll see. we'll see. >> How many people work there? >> How many people work there? >> How many people work there? >> Right now, 30, 35. >> Right now, 30, 35. >> Right now, 30, 35. >> Uh so you're doing >> Uh so you're doing >> Uh so you're doing 800,000 of revenue per 800,000 of revenue per 800,000 of revenue per That's just kind That's just kind That's just kind >> It's it's about a million dollars per >> It's it's about a million dollars per >> It's it's about a million dollars per employee right now. employee right now. employee right now. >> Walk walk me through the like What does >> Walk walk me through the like What does >> Walk walk me through the like What does this look like if this is actually big? this look like if this is actually big? this look like if this is actually big? Cuz some of the weird ideas you have Cuz some of the weird ideas you have Cuz some of the weird ideas you have There's a weird idea. And weird ideas There's a weird idea. And weird ideas There's a weird idea. And weird ideas have a lot of potential even though on have a lot of potential even though on have a lot of potential even though on the surface it takes a little time to the surface it takes a little time to the surface it takes a little time to like understand like understand like understand >> kind of like a common sense idea. Like I >> kind of like a common sense idea. Like I >> kind of like a common sense idea. Like I I don't know, growing up I was like, I don't know, growing up I was like, I don't know, growing up I was like, man, why can't I rob an account just man, why can't I rob an account just man, why can't I rob an account just like follow this other guy's robin hood like follow this other guy's robin hood like follow this other guy's robin hood account automatically? Like I don't want account automatically? Like I don't want account automatically? Like I don't want to just give my funds away to someone to just give my funds away to someone to just give my funds away to someone else. Like I want to be able to do stuff else. Like I want to be able to do stuff else. Like I want to be able to do stuff myself and I also want to like go on myself and I also want to like go on myself and I also want to like go on vacation without worrying about like vacation without worrying about like vacation without worrying about like when to sell or when to buy. And I think when to sell or when to buy. And I think when to sell or when to buy. And I think the solution to me was just the most the solution to me was just the most the solution to me was just the most obvious. obvious. obvious. >> Mhm. >> Mhm. >> Mhm. >> But I think the ultimate goal of >> But I think the ultimate goal of >> But I think the ultimate goal of Autopilot is to become the world's Autopilot is to become the world's Autopilot is to become the world's largest asset manager. When you look at largest asset manager. When you look at largest asset manager. When you look at BlackRock, uh they actually do this for BlackRock, uh they actually do this for BlackRock, uh they actually do this for institution. BlackRock connects all institution. BlackRock connects all institution. BlackRock connects all these financial institutions, companies these financial institutions, companies these financial institutions, companies will go on a tool called BlackRock will go on a tool called BlackRock will go on a tool called BlackRock Aladdin and buy different portfolios. Aladdin and buy different portfolios. Aladdin and buy different portfolios. So, it already exists at the institution So, it already exists at the institution So, it already exists at the institution level. level. level. >> say buy different portfolios, like >> say buy different portfolios, like >> say buy different portfolios, like >> Uh BlackRock will create their own >> Uh BlackRock will create their own >> Uh BlackRock will create their own portfolios based on different risk. Um portfolios based on different risk. Um portfolios based on different risk. Um and so like if you're Walmart and and so like if you're Walmart and and so like if you're Walmart and you're, you know, heavily invested in, you're, you know, heavily invested in, you're, you know, heavily invested in, you know, uh groceries for this quarter, you know, uh groceries for this quarter, you know, uh groceries for this quarter, you could actually like hedge your bet you could actually like hedge your bet you could actually like hedge your bet on BlackRock Aladdin. If you're a on BlackRock Aladdin. If you're a on BlackRock Aladdin. If you're a Facebook employee, you could actually Facebook employee, you could actually Facebook employee, you could actually find a portfolio on Autopilot that find a portfolio on Autopilot that find a portfolio on Autopilot that hedges like tech. And And that tool that hedges like tech. And And that tool that hedges like tech. And And that tool that BlackRock created makes around $6 BlackRock created makes around $6 BlackRock created makes around $6 billion per year and BlackRock's one of billion per year and BlackRock's one of billion per year and BlackRock's one of the largest asset managers. And so I the largest asset managers. And so I the largest asset managers. And so I think with Autopilot, one of our goals think with Autopilot, one of our goals think with Autopilot, one of our goals is to get that same tech and like build is to get that same tech and like build is to get that same tech and like build it for retail investors. it for retail investors. it for retail investors. >> How do you get those How do How are you >> How do you get those How do How are you >> How do you get those How do How are you going to hire those people? going to hire those people? going to hire those people? >> Well, he's saying people come to the >> Well, he's saying people come to the >> Well, he's saying people come to the platform. Like it's two-sided platform. Like it's two-sided platform. Like it's two-sided marketplace, right? marketplace, right? marketplace, right? >> And so then the pilots come and they're >> And so then the pilots come and they're >> And so then the pilots come and they're the ones with the ideas. You verify, you the ones with the ideas. You verify, you the ones with the ideas. You verify, you know, their employment, where they've know, their employment, where they've know, their employment, where they've worked, but really the goal is where worked, but really the goal is where worked, but really the goal is where anyone can just publish those portfolios anyone can just publish those portfolios anyone can just publish those portfolios and get paid. And then plus it's a and get paid. And then plus it's a and get paid. And then plus it's a marketplace, we take a a cut of that marketplace, we take a a cut of that marketplace, we take a a cut of that revenue. revenue. revenue. >> What would be the burning question? >> What would be the burning question? >> What would be the burning question? >> I have a bunch of large macro questions >> I have a bunch of large macro questions >> I have a bunch of large macro questions on AI, but I also have questions because on AI, but I also have questions because on AI, but I also have questions because you guys have been running companies for you guys have been running companies for you guys have been running companies for 10-plus years. Um one of the biggest 10-plus years. Um one of the biggest 10-plus years. Um one of the biggest things is hiring. How do you find people things is hiring. How do you find people things is hiring. How do you find people that are highly motivated? What that are highly motivated? What that are highly motivated? What questions do you ask? Because one thing questions do you ask? Because one thing questions do you ask? Because one thing that I've noticed is when you hire, that I've noticed is when you hire, that I've noticed is when you hire, especially more senior-level people, especially more senior-level people, especially more senior-level people, their ability to BS is greater than my their ability to BS is greater than my their ability to BS is greater than my ability to detect ability to detect ability to detect >> [laughter] >> [laughter] >> [laughter] >> And I think there's certain questions or >> And I think there's certain questions or >> And I think there's certain questions or certain things that you can look at that certain things that you can look at that certain things that you can look at that you guys probably have more experience you guys probably have more experience you guys probably have more experience that would actually really help that would actually really help that would actually really help Autopilot get to the next step. Autopilot get to the next step. Autopilot get to the next step. >> Well, for one, having like a personal >> Well, for one, having like a personal >> Well, for one, having like a personal audience is like definitely that's audience is like definitely that's audience is like definitely that's probably one of the biggest perks is probably one of the biggest perks is probably one of the biggest perks is that you're able to like if you cold that you're able to like if you cold that you're able to like if you cold email someone, they're like, "Oh, I've email someone, they're like, "Oh, I've email someone, they're like, "Oh, I've heard of you or I know of you." At the heard of you or I know of you." At the heard of you or I know of you." At the very least, at best, you have a lot of very least, at best, you have a lot of very least, at best, you have a lot of people who will apply. But whenever I people who will apply. But whenever I people who will apply. But whenever I would hire for people who roles that I would hire for people who roles that I would hire for people who roles that I didn't know what the hell I was doing, I didn't know what the hell I was doing, I didn't know what the hell I was doing, I definitely would have like an outsider definitely would have like an outsider definitely would have like an outsider hiring committee. So, I would have hiring committee. So, I would have hiring committee. So, I would have outsiders interview people all the time, outsiders interview people all the time, outsiders interview people all the time, >> Mhm. and that helped me a lot. >> Mhm. and that helped me a lot. >> Mhm. and that helped me a lot. >> Yeah, that was going to be one of my I >> Yeah, that was going to be one of my I >> Yeah, that was going to be one of my I probably have three or four tips. probably have three or four tips. probably have three or four tips. They're not all related. The first is I They're not all related. The first is I They're not all related. The first is I find a lot of my hiring mistakes were I find a lot of my hiring mistakes were I find a lot of my hiring mistakes were I didn't actually even understand what I didn't actually even understand what I didn't actually even understand what I was hiring for. I wasn't clear enough. was hiring for. I wasn't clear enough. was hiring for. I wasn't clear enough. Sometimes that comes from I do the work Sometimes that comes from I do the work Sometimes that comes from I do the work for a little bit and I'm like, "Oh, for a little bit and I'm like, "Oh, for a little bit and I'm like, "Oh, okay. What the person's going to need to okay. What the person's going to need to okay. What the person's going to need to do is X, Y, Z." As you scale, that do is X, Y, Z." As you scale, that do is X, Y, Z." As you scale, that happens less, happens less, happens less, but still writing down not like a but still writing down not like a but still writing down not like a generic like I think a lot of people generic like I think a lot of people generic like I think a lot of people outsource the job spec to either outsource the job spec to either outsource the job spec to either ChatGPT, a recruiter. It's super ChatGPT, a recruiter. It's super ChatGPT, a recruiter. It's super generic. It's going to attract a generic generic. It's going to attract a generic generic. It's going to attract a generic candidate, and it's not actually clear. candidate, and it's not actually clear. candidate, and it's not actually clear. What are you What are you What are you What are you trying to get somebody to What are you trying to get somebody to What are you trying to get somebody to come change in your company? What do come change in your company? What do come change in your company? What do they need to be world-class at? What they need to be world-class at? What they need to be world-class at? What sort of problem are they going to have sort of problem are they going to have sort of problem are they going to have to solve? And be really, really clear. to solve? And be really, really clear. to solve? And be really, really clear. So, that's the first thing. Second is So, that's the first thing. Second is So, that's the first thing. Second is kind of yours on outside kind of yours on outside kind of yours on outside help. So, I have a buddy who help. So, I have a buddy who help. So, I have a buddy who he's better at hiring than I am. And so, he's better at hiring than I am. And so, he's better at hiring than I am. And so, what I would do for any executive hire what I would do for any executive hire what I would do for any executive hire is I would call the favor and be like, is I would call the favor and be like, is I would call the favor and be like, "Hey, like once I've done the screening, "Hey, like once I've done the screening, "Hey, like once I've done the screening, will you talk to these Will you talk to will you talk to these Will you talk to will you talk to these Will you talk to my favorite kind of three or four my favorite kind of three or four my favorite kind of three or four candidates and give me your take?" And candidates and give me your take?" And candidates and give me your take?" And it really wasn't about who he picked, it it really wasn't about who he picked, it it really wasn't about who he picked, it was me becoming a better hirer and was me becoming a better hirer and was me becoming a better hirer and interviewer by understanding the delta interviewer by understanding the delta interviewer by understanding the delta of like, "I thought this person was of like, "I thought this person was of like, "I thought this person was great. He sniffed out their [ __ ] great. He sniffed out their [ __ ] great. He sniffed out their [ __ ] really quick. Why did he do that?" And really quick. Why did he do that?" And really quick. Why did he do that?" And I'm watching the the call, and I'm I'm watching the the call, and I'm I'm watching the the call, and I'm realizing like, "Oh, he dug in in a realizing like, "Oh, he dug in in a realizing like, "Oh, he dug in in a different way, asked a different style different way, asked a different style different way, asked a different style question, didn't accept [clears throat] question, didn't accept [clears throat] question, didn't accept [clears throat] their first answer at face value. I got their first answer at face value. I got their first answer at face value. I got to start doing that." And so, I got to start doing that." And so, I got to start doing that." And so, I got better by doing that not just because better by doing that not just because better by doing that not just because they helped me pick this person, but they helped me pick this person, but they helped me pick this person, but because I realized where I was weak in because I realized where I was weak in because I realized where I was weak in the interviewing process. I also think the interviewing process. I also think the interviewing process. I also think there's two really good pools to hire there's two really good pools to hire there's two really good pools to hire from. One is you want people who've from. One is you want people who've from. One is you want people who've either done it before or never done either done it before or never done either done it before or never done anything, but can do anything. So, done anything, but can do anything. So, done anything, but can do anything. So, done it before is it before is it before is who solved this problem before? I always who solved this problem before? I always who solved this problem before? I always start there. Cuz if I can find somebody start there. Cuz if I can find somebody start there. Cuz if I can find somebody who's already done this before, who's already done this before, who's already done this before, that's going to help me a lot. And I that's going to help me a lot. And I that's going to help me a lot. And I mean specifically, so it's not just mean specifically, so it's not just mean specifically, so it's not just like, "Oh, he worked at a successful like, "Oh, he worked at a successful like, "Oh, he worked at a successful company." company." company." But they do enterprise sales, and we But they do enterprise sales, and we But they do enterprise sales, and we don't even do enterprise sales. All don't even do enterprise sales. All don't even do enterprise sales. All right, it's like, "No, they solved they right, it's like, "No, they solved they right, it's like, "No, they solved they they did this exact thing before this." they did this exact thing before this." they did this exact thing before this." >> We've talked about this a lot in the pod >> We've talked about this a lot in the pod >> We've talked about this a lot in the pod where it's like it's so fun to hire where it's like it's so fun to hire where it's like it's so fun to hire young people. They don't have any young people. They don't have any young people. They don't have any experience. It's so fun, right? Cuz experience. It's so fun, right? Cuz experience. It's so fun, right? Cuz that's what you were recently. But like that's what you were recently. But like that's what you were recently. But like nine out of 10 times if you're just nine out of 10 times if you're just nine out of 10 times if you're just like, "Hey, you did that there? Do that like, "Hey, you did that there? Do that like, "Hey, you did that there? Do that same thing here." same thing here." same thing here." >> Right. >> Right. >> Right. >> And that tends to just >> And that tends to just >> And that tends to just be way better. be way better. be way better. >> we so we we will map out which companies >> we so we we will map out which companies >> we so we we will map out which companies have solved this problem before. Who was have solved this problem before. Who was have solved this problem before. Who was the person that was there at the year the person that was there at the year the person that was there at the year when they had this problem where we are. when they had this problem where we are. when they had this problem where we are. Who was that person? And then were they Who was that person? And then were they Who was that person? And then were they the real shot caller on the team or were the real shot caller on the team or were the real shot caller on the team or were they just doing something but there's they just doing something but there's they just doing something but there's somebody else who was amazing. I like go somebody else who was amazing. I like go somebody else who was amazing. I like go to that level of detail there. So that's to that level of detail there. So that's to that level of detail there. So that's one pool you got to get good at and the one pool you got to get good at and the one pool you got to get good at and the other pool is like other pool is like other pool is like basically diamonds in the rough, like basically diamonds in the rough, like basically diamonds in the rough, like unproven talent that you can almost be a unproven talent that you can almost be a unproven talent that you can almost be a stock picker on and be like, "Okay, I stock picker on and be like, "Okay, I stock picker on and be like, "Okay, I think this person's like a 10xer." And I think this person's like a 10xer." And I think this person's like a 10xer." And I build the company with those two pools build the company with those two pools build the company with those two pools of of people. Um and you build systems of of people. Um and you build systems of of people. Um and you build systems so that you consistently are sourcing so that you consistently are sourcing so that you consistently are sourcing from both of those. from both of those. from both of those. >> Yeah. >> Yeah. >> Yeah. >> Most One thing most people Are you the >> Most One thing most people Are you the >> Most One thing most people Are you the CEO of the business? CEO of the business? CEO of the business? >> Yeah. >> Yeah. >> Yeah. >> How much time uh per week do you spend >> How much time uh per week do you spend >> How much time uh per week do you spend recruiting right now? recruiting right now? recruiting right now? >> Right now about 20%. >> Right now about 20%. >> Right now about 20%. Um Um Um >> That's pretty good. Most people That >> That's pretty good. Most people That >> That's pretty good. Most people That That means a one full day a week, That means a one full day a week, That means a one full day a week, basically. basically. basically. >> Yeah. >> Yeah. >> Yeah. >> Most founders who have like hiring >> Most founders who have like hiring >> Most founders who have like hiring problems, if you ask them that question, problems, if you ask them that question, problems, if you ask them that question, they're like, "Hours? I they're like, "Hours? I they're like, "Hours? I They don't really track it." They don't really track it." They don't really track it." >> now I'm like seeing how important it is >> now I'm like seeing how important it is >> now I'm like seeing how important it is and and and >> If you listen to like a lot of the most >> If you listen to like a lot of the most >> If you listen to like a lot of the most successful founders that that were in a successful founders that that were in a successful founders that that were in a scaling phase, they spend like 30% of scaling phase, they spend like 30% of scaling phase, they spend like 30% of their time just on recruiting. their time just on recruiting. their time just on recruiting. >> Are you guys profitable? >> Are you guys profitable? >> Are you guys profitable? >> Yeah. >> Yeah. >> Yeah. >> Okay. So you're at 20 million in revenue >> Okay. So you're at 20 million in revenue >> Okay. So you're at 20 million in revenue >> Or 30 30 million revenue. >> Or 30 30 million revenue. >> Or 30 30 million revenue. >> 30 million. >> 30 million. >> 30 million. >> 30 million revenue. We're cash flow >> 30 million revenue. We're cash flow >> 30 million revenue. We're cash flow positive, not like GAAP profitable, but positive, not like GAAP profitable, but positive, not like GAAP profitable, but sure. sure. sure. >> So you're default alive. >> So you're default alive. >> So you're default alive. >> Yeah. >> Yeah. >> Yeah. >> What's the growth rate going to be this >> What's the growth rate going to be this >> What's the growth rate going to be this year or what? year or what? year or what? >> About 250%. >> About 250%. >> About 250%. >> I would think almost all your entire job >> I would think almost all your entire job >> I would think almost all your entire job is collecting people. is collecting people. is collecting people. >> What what sorts of people do you need to >> What what sorts of people do you need to >> What what sorts of people do you need to be hiring right now? be hiring right now? be hiring right now? >> A lot of software engineers, um product >> A lot of software engineers, um product >> A lot of software engineers, um product people, people, people, growth people, marketing people, really growth people, marketing people, really growth people, marketing people, really anyone. anyone. anyone. >> [laughter] >> [laughter] >> [laughter] >> But I think >> But I think >> But I think just people. just people. just people. I think the thing is I think the thing is I think the thing is um is just maintaining that high bar and um is just maintaining that high bar and um is just maintaining that high bar and we've just hired a lot of people and we've just hired a lot of people and we've just hired a lot of people and perhaps I'm actually very quick to get perhaps I'm actually very quick to get perhaps I'm actually very quick to get rid of people if they like come in and rid of people if they like come in and rid of people if they like come in and within like two to three weeks they within like two to three weeks they within like two to three weeks they haven't really done anything. I just haven't really done anything. I just haven't really done anything. I just immediately I'm like, all right, you're immediately I'm like, all right, you're immediately I'm like, all right, you're getting out of here. getting out of here. getting out of here. >> Does that impact that and that impacts >> Does that impact that and that impacts >> Does that impact that and that impacts culture, which is why you got to get the culture, which is why you got to get the culture, which is why you got to get the hiring right? hiring right? hiring right? >> It it impacts culture, but I think >> It it impacts culture, but I think >> It it impacts culture, but I think everyone who's been here anyone who we everyone who's been here anyone who we everyone who's been here anyone who we we we tell people if you're here for we we tell people if you're here for we we tell people if you're here for longer than three months, you don't have longer than three months, you don't have longer than three months, you don't have to worry. So I think after the to worry. So I think after the to worry. So I think after the three-month mark people are like, okay, three-month mark people are like, okay, three-month mark people are like, okay, I'm I'm chilling, but before that I'm I'm chilling, but before that I'm I'm chilling, but before that everyone's like freaked out. everyone's like freaked out. everyone's like freaked out. >> Are you going to only hire in New York? >> Are you going to only hire in New York? >> Are you going to only hire in New York? >> Yeah. Yeah. >> Yeah. Yeah. >> Yeah. Yeah. >> Can you afford it? >> Can you afford it? >> Can you afford it? >> yeah, yeah, we've >> yeah, yeah, we've >> yeah, yeah, we've I I think especially with AI the I I think especially with AI the I I think especially with AI the salaries that we're paying people like salaries that we're paying people like salaries that we're paying people like we we just we we just we we just just offered a guy like a 350k salary just offered a guy like a 350k salary just offered a guy like a 350k salary and I'm like, this is crazy cuz I've and I'm like, this is crazy cuz I've and I'm like, this is crazy cuz I've never made that much money. I still never made that much money. I still never made that much money. I still don't. But yeah, I think the the goal is don't. But yeah, I think the the goal is don't. But yeah, I think the the goal is with AI each person is much much more with AI each person is much much more with AI each person is much much more effective. So a good person with AI effective. So a good person with AI effective. So a good person with AI could be 10 20 times more effective than could be 10 20 times more effective than could be 10 20 times more effective than an average person with AI. an average person with AI. an average person with AI. >> That's crazy. Yeah. My CTO used to say >> That's crazy. Yeah. My CTO used to say >> That's crazy. Yeah. My CTO used to say it to he's like, I you're one person. it to he's like, I you're one person. it to he's like, I you're one person. No, you're three people. He says, you're No, you're three people. He says, you're No, you're three people. He says, you're three people. He says it all the time. three people. He says it all the time. three people. He says it all the time. And people like it's funny cuz like it's And people like it's funny cuz like it's And people like it's funny cuz like it's real simple. It's people just realize real simple. It's people just realize real simple. It's people just realize what you mean. It's like, no, you need what you mean. It's like, no, you need what you mean. It's like, no, you need to be able to do the work of three to be able to do the work of three to be able to do the work of three people because you got to be smart about people because you got to be smart about people because you got to be smart about what you don't do. Don't do the what you don't do. Don't do the what you don't do. Don't do the [ __ ] Automate stuff. You know, [ __ ] Automate stuff. You know, [ __ ] Automate stuff. You know, figure out like a faster path, you know, figure out like a faster path, you know, figure out like a faster path, you know, that's your job is to be three people. that's your job is to be three people. that's your job is to be three people. And when we used to do offsites, we And when we used to do offsites, we And when we used to do offsites, we would say every day is two days. would say every day is two days. would say every day is two days. Like Like Like two days of stuff needs to happen every two days of stuff needs to happen every two days of stuff needs to happen every day. And so I think when you do that, day. And so I think when you do that, day. And so I think when you do that, you set up set a different bar for for you set up set a different bar for for you set up set a different bar for for for your team on how they how they for your team on how they how they for your team on how they how they operate. operate. operate. >> Dude, thanks for doing this, dude. This >> Dude, thanks for doing this, dude. This >> Dude, thanks for doing this, dude. This is awesome. is awesome. is awesome. >> You're awesome. We I I messaged him >> You're awesome. We I I messaged him >> You're awesome. We I I messaged him roughly two hours ago. roughly two hours ago. roughly two hours ago. And I was like, where are you? And I was like, where are you? And I was like, where are you? >> Yeah, I saw the post. I'm like, yo, Sam, >> Yeah, I saw the post. I'm like, yo, Sam, >> Yeah, I saw the post. I'm like, yo, Sam, I got to get in my first meeting. I got to get in my first meeting. I got to get in my first meeting. >> I said, where are you? >> I said, where are you? >> I said, where are you? Can you be here? Can you be here? Can you be here? >> Well, you guys have are one of the great >> Well, you guys have are one of the great >> Well, you guys have are one of the great like growth hack stories. Like there's, like growth hack stories. Like there's, like growth hack stories. Like there's, you know, what you guys did with the you know, what you guys did with the you know, what you guys did with the Pelosi tracker. You have another Pelosi tracker. You have another Pelosi tracker. You have another tracker, too. You have other trackers. tracker, too. You have other trackers. tracker, too. You have other trackers. >> Yeah, we have like, you know, the the >> Yeah, we have like, you know, the the >> Yeah, we have like, you know, the the Leopold tracker. Leopold tracker. Leopold tracker. >> Who's the best? >> Who's the best? >> Who's the best? >> Um right now Leopold. He's up insane >> Um right now Leopold. He's up insane >> Um right now Leopold. He's up insane amount. amount. amount. >> Is he like a 25-year-old? >> Is he like a 25-year-old? >> Is he like a 25-year-old? >> He was like a 22-year-old. He worked for >> He was like a 22-year-old. He worked for >> He was like a 22-year-old. He worked for OpenAI. Now he's like 25. OpenAI. Now he's like 25. OpenAI. Now he's like 25. Um he left OpenAI and then started a Um he left OpenAI and then started a Um he left OpenAI and then started a fund. fund. fund. >> Isn't he >> Isn't he >> Isn't he >> up like $10 billion or something? >> up like $10 billion or something? >> up like $10 billion or something? >> Uh, five around $5 billion. >> Uh, five around $5 billion. >> Uh, five around $5 billion. >> So, he's a billionaire now? >> So, he's a billionaire now? >> So, he's a billionaire now? >> I think so. I think so. >> I think so. I think so. >> I think so. I think so. >> outside capital? >> outside capital? >> outside capital? >> Uh, I think I think a lot of a lot of it >> Uh, I think I think a lot of a lot of it >> Uh, I think I think a lot of a lot of it was friends and family, but he was friends and family, but he was friends and family, but he >> Gross, Nat Friedman, and like smart >> Gross, Nat Friedman, and like smart >> Gross, Nat Friedman, and like smart money was immediately behind him. It was money was immediately behind him. It was money was immediately behind him. It was like like like >> did he raise? >> did he raise? >> did he raise? >> I think originally $500 million, not >> I think originally $500 million, not >> I think originally $500 million, not that much. Now it's at like around that much. Now it's at like around that much. Now it's at like around upward of $5 billion. But what he did, upward of $5 billion. But what he did, upward of $5 billion. But what he did, what which was super smart what which was super smart what which was super smart >> in 2 years? >> in 2 years? >> in 2 years? >> Yeah, he looked at what companies what >> Yeah, he looked at what companies what >> Yeah, he looked at what companies what was the bottlenecks of Open AI. And he was the bottlenecks of Open AI. And he was the bottlenecks of Open AI. And he was like, "Okay, well, SSDs." Like a lot was like, "Okay, well, SSDs." Like a lot was like, "Okay, well, SSDs." Like a lot of people thinking GPUs. He was like, of people thinking GPUs. He was like, of people thinking GPUs. He was like, "SSDs, like Micron." "SSDs, like Micron." "SSDs, like Micron." And so, he just started buying all of And so, he just started buying all of And so, he just started buying all of like the other bottlenecks that no one like the other bottlenecks that no one like the other bottlenecks that no one was focusing on, and now they're just was focusing on, and now they're just was focusing on, and now they're just like skyrocketing. like skyrocketing. like skyrocketing. >> And isn't like his somebody is like the >> And isn't like his somebody is like the >> And isn't like his somebody is like the chief of staff at Anthropic? chief of staff at Anthropic? chief of staff at Anthropic? >> that. >> that. >> that. >> He's got some some some information flow >> He's got some some some information flow >> He's got some some some information flow as well. That's pretty good. as well. That's pretty good. as well. That's pretty good. >> Yeah. >> Yeah. >> Yeah. >> I mean, he's brilliant. Have you read >> I mean, he's brilliant. Have you read >> I mean, he's brilliant. Have you read his like situational awareness paper? his like situational awareness paper? his like situational awareness paper? >> No. >> No. >> No. >> I guess I'll do this. Uh, I did this and >> I guess I'll do this. Uh, I did this and >> I guess I'll do this. Uh, I did this and it was very very useful. Take the PDF it was very very useful. Take the PDF it was very very useful. Take the PDF for situational awareness. It was like for situational awareness. It was like for situational awareness. It was like on my list of like on my list of like on my list of like >> What is situational awareness? >> What is situational awareness? >> What is situational awareness? >> That's his hedge fund name. >> That's his hedge fund name. >> That's his hedge fund name. >> He published a >> He published a >> He published a >> Oh, it's >> Oh, it's >> Oh, it's >> a white paper or blog post, like a PDF. >> a white paper or blog post, like a PDF. >> a white paper or blog post, like a PDF. Before like before he launched the hedge Before like before he launched the hedge Before like before he launched the hedge fund or fund or fund or >> Yeah. >> Yeah. >> Yeah. >> right after? I think it was actually >> right after? I think it was actually >> right after? I think it was actually maybe before, and this is how he maybe before, and this is how he maybe before, and this is how he attracted the money. attracted the money. attracted the money. He launched this thing, which was He launched this thing, which was He launched this thing, which was basically he had a very strong point of basically he had a very strong point of basically he had a very strong point of view on like what the next 10 years of view on like what the next 10 years of view on like what the next 10 years of AI looks like. Very bold predictions. It AI looks like. Very bold predictions. It AI looks like. Very bold predictions. It was like, "And then, huge tension was like, "And then, huge tension was like, "And then, huge tension between China and America. And then between China and America. And then between China and America. And then because of that, this." It was like because of that, this." It was like because of that, this." It was like super specific predictions super specific predictions super specific predictions of how the puck where the puck was of how the puck where the puck was of how the puck where the puck was going. So, he published this thing, and going. So, he published this thing, and going. So, he published this thing, and a lot of smart people were like, "Yo, a lot of smart people were like, "Yo, a lot of smart people were like, "Yo, this is like one of the smarter takes of this is like one of the smarter takes of this is like one of the smarter takes of what's going on." I think that attracted what's going on." I think that attracted what's going on." I think that attracted more capital, more more capital, more more capital, more >> Situational awareness was the name of >> Situational awareness was the name of >> Situational awareness was the name of his publication. his publication. his publication. >> and I think it's the name of his uh fund >> and I think it's the name of his uh fund >> and I think it's the name of his uh fund or his his whatever his com- company is. or his his whatever his com- company is. or his his whatever his com- company is. So, take it, give it to your Victor in So, take it, give it to your Victor in So, take it, give it to your Victor in your Slack. Yeah. You say, "Victor, your Slack. Yeah. You say, "Victor, your Slack. Yeah. You say, "Victor, break this down break this down break this down into the 10 key ideas, like predictions into the 10 key ideas, like predictions into the 10 key ideas, like predictions and hypotheses that he has. and hypotheses that he has. and hypotheses that he has. Explain it, and just explain it to me." Explain it, and just explain it to me." Explain it, and just explain it to me." Victor did a wonderful job. He like just Victor did a wonderful job. He like just Victor did a wonderful job. He like just chewed up this PDF for me. It explained chewed up this PDF for me. It explained chewed up this PDF for me. It explained it step-by-step. And then I asked it step-by-step. And then I asked it step-by-step. And then I asked follow-up questions and it was just follow-up questions and it was just follow-up questions and it was just great. And I was like, "So, did that great. And I was like, "So, did that great. And I was like, "So, did that play out? Was he right about this? Did play out? Was he right about this? Did play out? Was he right about this? Did he trade on that?" And it just it just he trade on that?" And it just it just he trade on that?" And it just it just answered every single question. It was answered every single question. It was answered every single question. It was so good. so good. so good. >> a guy like him >> a guy like him >> a guy like him >> Victor, by the way, is like a AI >> Victor, by the way, is like a AI >> Victor, by the way, is like a AI thing that Sam probably onto that I am thing that Sam probably onto that I am thing that Sam probably onto that I am now hooked. I ended up I ended up now hooked. I ended up I ended up now hooked. I ended up I ended up investing in it. investing in it. investing in it. >> Yes, thanks for telling me. I wish I >> Yes, thanks for telling me. I wish I >> Yes, thanks for telling me. I wish I told you about it. You [laughter] should told you about it. You [laughter] should told you about it. You [laughter] should have told me that. have told me that. have told me that. >> Well, it was at a >> Well, it was at a >> Well, it was at a absurd valuation, but like it's that absurd valuation, but like it's that absurd valuation, but like it's that good that I was like, "Yeah, for sure." good that I was like, "Yeah, for sure." good that I was like, "Yeah, for sure." >> I told you I told him about this tool. >> I told you I told him about this tool. >> I told you I told him about this tool. He's like, "I don't know. I don't trust He's like, "I don't know. I don't trust He's like, "I don't know. I don't trust these tools. These are stupid." And then these tools. These are stupid." And then these tools. These are stupid." And then 2 days later he goes "These tools are 2 days later he goes "These tools are 2 days later he goes "These tools are awesome. Can I order this tool?" awesome. Can I order this tool?" awesome. Can I order this tool?" >> I made him feel dumb. I was like, "Why >> I made him feel dumb. I was like, "Why >> I made him feel dumb. I was like, "Why do you just trust a random startup with do you just trust a random startup with do you just trust a random startup with all your stuff?" all your stuff?" all your stuff?" And then I heard about it a little more And then I heard about it a little more And then I heard about it a little more and I was like, "Let's try it out." And and I was like, "Let's try it out." And and I was like, "Let's try it out." And I tried it in one of my Slacks and I was I tried it in one of my Slacks and I was I tried it in one of my Slacks and I was like, "This is amazing." Now it's in like, "This is amazing." Now it's in like, "This is amazing." Now it's in every business I have. every business I have. every business I have. >> Yeah, it's good. But the >> Yeah, it's good. But the >> Yeah, it's good. But the I'm curious about the personal personal I'm curious about the personal personal I'm curious about the personal personal side of this. Is he like low-key right side of this. Is he like low-key right side of this. Is he like low-key right now? Is he trying to hide out? now? Is he trying to hide out? now? Is he trying to hide out? >> No, he posts on Twitter. >> No, he posts on Twitter. >> No, he posts on Twitter. >> Really? >> Really? >> Really? >> He's a He's >> He's a He's >> He's a He's He's a very good friend of Orkesh. So, He's a very good friend of Orkesh. So, He's a very good friend of Orkesh. So, he's down the street. he's down the street. he's down the street. >> Cash bought a couple of times. Worth I >> Cash bought a couple of times. Worth I >> Cash bought a couple of times. Worth I mean mean mean >> Is he cool? >> Is he cool? >> Is he cool? >> Yeah. >> Yeah. >> Yeah. >> Do you think like Peter Thiel's cool? >> Do you think like Peter Thiel's cool? >> Do you think like Peter Thiel's cool? Like, you know, like Do you think a lot Like, you know, like Do you think a lot Like, you know, like Do you think a lot of Asperger's genius is cool? Yeah, like of Asperger's genius is cool? Yeah, like of Asperger's genius is cool? Yeah, like Yeah, he has that. Yeah, he has that. Yeah, he has that. >> He's great. >> He's great. >> He's great. >> I love him. >> I love him. >> I love him. >> I love it. >> I love it. >> I love it. >> [laughter] >> [laughter] >> [laughter] >> You you can follow him on Autopilot. >> You you can follow him on Autopilot. >> You you can follow him on Autopilot. >> I'm saying >> I'm saying >> I'm saying >> Yeah, cool is not the word I would use. >> Yeah, cool is not the word I would use. >> Yeah, cool is not the word I would use. I love it, yes. I think he's awesome. I love it, yes. I think he's awesome. I love it, yes. I think he's awesome. >> And so, you can replicate his? >> And so, you can replicate his? >> And so, you can replicate his? >> follow his top 15 picks on Autopilot. >> follow his top 15 picks on Autopilot. >> follow his top 15 picks on Autopilot. >> And how do you know his picks? Cuz >> And how do you know his picks? Cuz >> And how do you know his picks? Cuz >> Uh so, he follows a 13F. And so, it is >> Uh so, he follows a 13F. And so, it is >> Uh so, he follows a 13F. And so, it is done with a little lag. done with a little lag. done with a little lag. >> yeah. >> yeah. >> yeah. >> There's about a 45-day lag. >> There's about a 45-day lag. >> There's about a 45-day lag. >> But even we only track with the lag. >> But even we only track with the lag. >> But even we only track with the lag. >> a 13-day F how big does your fund need >> a 13-day F how big does your fund need >> a 13-day F how big does your fund need to be? to be? to be? >> Oh, $100 million. >> Oh, $100 million. >> Oh, $100 million. >> Oh, okay. >> Oh, okay. >> Oh, okay. Damn, so he's the guy right now. Damn, so he's the guy right now. Damn, so he's the guy right now. >> He's the guy. >> He's the guy. >> He's the guy. >> He's the guy. >> He's the guy. >> He's the guy. >> Does he Does he do podcasts? >> Does he Does he do podcasts? >> Does he Does he do podcasts? You guys should get him on. You guys should get him on. You guys should get him on. >> He has a couple. We're trying I I think >> He has a couple. We're trying I I think >> He has a couple. We're trying I I think we're reaching out, yeah. we're reaching out, yeah. we're reaching out, yeah. >> And it's stuff like this that makes me >> And it's stuff like this that makes me >> And it's stuff like this that makes me like very adamant of like people should like very adamant of like people should like very adamant of like people should always invest in index funds, but there always invest in index funds, but there always invest in index funds, but there should always be like 10 to 15% of your should always be like 10 to 15% of your should always be like 10 to 15% of your like net worth on high-risk high-reward like net worth on high-risk high-reward like net worth on high-risk high-reward stocks or portfolios. And so, this is stocks or portfolios. And so, this is stocks or portfolios. And so, this is where Autopilot doesn't right now want where Autopilot doesn't right now want where Autopilot doesn't right now want to take 100% of what you have, but just to take 100% of what you have, but just to take 100% of what you have, but just >> What percent? >> What percent? >> What percent? >> I would say 10 to 15%. >> I would say 10 to 15%. >> I would say 10 to 15%. >> Your liquid net worth, where is it >> Your liquid net worth, where is it >> Your liquid net worth, where is it allocated? allocated? allocated? >> Um >> Um >> Um >> Who are you following? >> Who are you following? >> Who are you following? >> Right right now, I follow basically like >> Right right now, I follow basically like >> Right right now, I follow basically like 20 different pilots on Autopilot right 20 different pilots on Autopilot right 20 different pilots on Autopilot right now. now. now. >> So, right now of your of your 100% net >> So, right now of your of your 100% net >> So, right now of your of your 100% net worth worth worth >> So, of my 100% net worth, it's like 90% >> So, of my 100% net worth, it's like 90% >> So, of my 100% net worth, it's like 90% on Autopilot. A lot of it is in on Autopilot. A lot of it is in on Autopilot. A lot of it is in Autopilot right Autopilot right Autopilot right >> the truthiness. You said you connect >> the truthiness. You said you connect >> the truthiness. You said you connect with their brokerage account. with their brokerage account. with their brokerage account. >> Yep. >> Yep. >> Yep. >> But like, people have many different >> But like, people have many different >> But like, people have many different accounts. accounts. accounts. >> Yes, so we can connect to all of them. >> Yes, so we can connect to all of them. >> Yes, so we can connect to all of them. You could You could You could >> But but you don't know if if this is >> But but you don't know if if this is >> But but you don't know if if this is tracking all of them or just tracking tracking all of them or just tracking tracking all of them or just tracking something, right? I Me as the user, I something, right? I Me as the user, I something, right? I Me as the user, I don't know if you have everything that don't know if you have everything that don't know if you have everything that this person has done, right? this person has done, right? this person has done, right? >> Yeah. >> Yeah. >> Yeah. >> Winners and losers. >> Winners and losers. >> Winners and losers. >> So, what it is is the people will go on >> So, what it is is the people will go on >> So, what it is is the people will go on our platform and create a model our platform and create a model our platform and create a model portfolio. And so, you only see the portfolio. And so, you only see the portfolio. And so, you only see the history of the model portfolio from when history of the model portfolio from when history of the model portfolio from when the pilot joins. the pilot joins. the pilot joins. To to now. Um so, it's not like actually To to now. Um so, it's not like actually To to now. Um so, it's not like actually following their brokerage account. following their brokerage account. following their brokerage account. >> Oh, okay. >> Oh, okay. >> Oh, okay. >> Um but what we do have is we have what's >> Um but what we do have is we have what's >> Um but what we do have is we have what's called skin in the game where the pilots called skin in the game where the pilots called skin in the game where the pilots will also put their money on Autopilot will also put their money on Autopilot will also put their money on Autopilot following their own portfolio. And so, following their own portfolio. And so, following their own portfolio. And so, you can be like, "Wow, Peter Thiel you can be like, "Wow, Peter Thiel you can be like, "Wow, Peter Thiel has $500,000 following his own trades, has $500,000 following his own trades, has $500,000 following his own trades, verified by Autopilot." verified by Autopilot." verified by Autopilot." >> Got you. Got you. Got you. >> Got you. Got you. Got you. >> Got you. Got you. Got you. Are you having fun? Are you having fun? Are you having fun? >> I would say right now I'm having fun. I >> I would say right now I'm having fun. I >> I would say right now I'm having fun. I would say the last 3 years have been would say the last 3 years have been would say the last 3 years have been it's it's hard I would I would say it's it's hard I would I would say it's it's hard I would I would say getting from 0 to 1 million in revenue getting from 0 to 1 million in revenue getting from 0 to 1 million in revenue was the hardest thing I've ever had to was the hardest thing I've ever had to was the hardest thing I've ever had to do. Getting from 1 to 30 was actually a do. Getting from 1 to 30 was actually a do. Getting from 1 to 30 was actually a piece of cake. piece of cake. piece of cake. >> What do you think the next the next >> What do you think the next the next >> What do you think the next the next threshold will be? threshold will be? threshold will be? >> I think we're on track to hit 100 >> I think we're on track to hit 100 >> I think we're on track to hit 100 million in revenue by March next year. million in revenue by March next year. million in revenue by March next year. Um I think it's going to be difficult. Um I think it's going to be difficult. Um I think it's going to be difficult. >> Burn rate? >> Burn rate? >> Burn rate? >> Uh uh >> Uh uh >> Uh uh recurring revenue, not burn rate. Right recurring revenue, not burn rate. Right recurring revenue, not burn rate. Right now, we're at like a 70 million run now, we're at like a 70 million run now, we're at like a 70 million run rate. Um but we want to get like rate. Um but we want to get like rate. Um but we want to get like >> I passed on investing in this like twice >> I passed on investing in this like twice >> I passed on investing in this like twice already. already. already. >> it. >> it. >> it. >> I know. >> I know. >> I know. >> Um but >> Um but >> Um but >> like a really hard thing to get off the >> like a really hard thing to get off the >> like a really hard thing to get off the ground. It actually was a hard thing to ground. It actually was a hard thing to ground. It actually was a hard thing to get off the ground. This is what I get off the ground. This is what I get off the ground. This is what I heard. heard. heard. >> I >> I >> I >> Um well, I'm a degenerate and they were >> Um well, I'm a degenerate and they were >> Um well, I'm a degenerate and they were listening to MFM, I think. So, like listening to MFM, I think. So, like listening to MFM, I think. So, like they knew that I'm a bit of a they knew that I'm a bit of a they knew that I'm a bit of a >> to Chris a couple times. >> to Chris a couple times. >> to Chris a couple times. >> to Chris. I really admired the >> to Chris. I really admired the >> to Chris. I really admired the marketing. So, I think I just reached marketing. So, I think I just reached marketing. So, I think I just reached out giving respect. I was like, "Hey, I out giving respect. I was like, "Hey, I out giving respect. I was like, "Hey, I I think it's brilliant what you guys are I think it's brilliant what you guys are I think it's brilliant what you guys are doing with the plus tracker on Twitter doing with the plus tracker on Twitter doing with the plus tracker on Twitter and the UFC I just thought you guys were and the UFC I just thought you guys were and the UFC I just thought you guys were doing a really good job of that." doing a really good job of that." doing a really good job of that." >> I think marketing we wouldn't be here >> I think marketing we wouldn't be here >> I think marketing we wouldn't be here just because of how hard this stuff is just because of how hard this stuff is just because of how hard this stuff is to do. to do. to do. >> What's your What was the first round's >> What's your What was the first round's >> What's your What was the first round's valuation? valuation? valuation? >> The first round was uh 7 million. >> The first round was uh 7 million. >> The first round was uh 7 million. >> Right. >> Right. >> Right. >> Yeah. But that was 2021 like there's a >> Yeah. But that was 2021 like there's a >> Yeah. But that was 2021 like there's a lot of uh lot of uh lot of uh >> Yeah, man. >> Yeah, man. >> Yeah, man. >> Yeah. >> Yeah. >> Yeah. >> [laughter] >> [laughter] >> [laughter] >> Well, either way, I'm a fan and uh I >> Well, either way, I'm a fan and uh I >> Well, either way, I'm a fan and uh I think what you guys are doing are great, think what you guys are doing are great, think what you guys are doing are great, man. I appreciate you coming on. man. I appreciate you coming on. man. I appreciate you coming on. >> awesome. All right, we appreciate you. >> awesome. All right, we appreciate you. >> awesome. All right, we appreciate you. >> All right. Thank you, guys. We'll talk >> All right. Thank you, guys. We'll talk >> All right. Thank you, guys. We'll talk to you a little bit. to you a little bit. to you a little bit. >> That was awesome. >> That was awesome. >> That was awesome. >> Good picks. >> Good picks. >> Good picks. >> Yeah. >> Yeah. >> Yeah. >> Uh that was cool That was fun. I hope um >> Uh that was cool That was fun. I hope um >> Uh that was cool That was fun. I hope um >> This is a This is a Hampton plug, by the >> This is a This is a Hampton plug, by the >> This is a This is a Hampton plug, by the way. I definitely just went into the New way. I definitely just went into the New way. I definitely just went into the New York channel and I just said York channel and I just said York channel and I just said >> Yeah. >> Yeah. >> Yeah. >> "Who's interested?" cuz I didn't want to >> "Who's interested?" cuz I didn't want to >> "Who's interested?" cuz I didn't want to tweet it out cuz I wasn't sure what tweet it out cuz I wasn't sure what tweet it out cuz I wasn't sure what we're going to get. we're going to get. we're going to get. >> do the plug for you. If you're a >> do the plug for you. If you're a >> do the plug for you. If you're a interesting business owner and you want interesting business owner and you want interesting business owner and you want to be in a community of other to be in a community of other to be in a community of other interesting business owners, interesting business owners, interesting business owners, >> [laughter] >> [laughter] >> [laughter] >> join Hampton and uh maybe you too can be >> join Hampton and uh maybe you too can be >> join Hampton and uh maybe you too can be on MFM someday, too. on MFM someday, too. on MFM someday, too. >> Yep. The I didn't realize how big >> Yep. The I didn't realize how big >> Yep. The I didn't realize how big Autopilot was. I thought Autopilot was. I thought Autopilot was. I thought >> It's been scaling a lot. Like it wasn't >> It's been scaling a lot. Like it wasn't >> It's been scaling a lot. Like it wasn't that big like 6 months ago. You know, it that big like 6 months ago. You know, it that big like 6 months ago. You know, it did it's like did it's like did it's like >> Well, he I knew it was 30 million >> Well, he I knew it was 30 million >> Well, he I knew it was 30 million revenue. I thought that meant like revenue. I thought that meant like revenue. I thought that meant like >> GMB >> GMB >> GMB >> So, like yeah. Cuz those businesses not >> So, like yeah. Cuz those businesses not >> So, like yeah. Cuz those businesses not um his business, but that category of um his business, but that category of um his business, but that category of businesses usually pretty shitty. businesses usually pretty shitty. businesses usually pretty shitty. >> Right. >> Right. >> Right. >> Uh like numbers could be huge, but the >> Uh like numbers could be huge, but the >> Uh like numbers could be huge, but the actual but not his. That's insane. actual but not his. That's insane. actual but not his. That's insane. >> Yeah, he's doing well. >> Yeah, he's doing well. >> Yeah, he's doing well. >> That was cool, right? >> That was cool, right? >> That was cool, right? >> You know, one of the things with >> You know, one of the things with >> You know, one of the things with probably the biggest thing for me since probably the biggest thing for me since probably the biggest thing for me since I started My First Million till today I started My First Million till today I started My First Million till today was I remember pre-My First Million and was I remember pre-My First Million and was I remember pre-My First Million and like 10 years before that the the full like 10 years before that the the full like 10 years before that the the full 10 years 10 years 10 years I felt like opportunity like success was I felt like opportunity like success was I felt like opportunity like success was this this needle. this this needle. this this needle. >> You had to do this thing. >> You had to do this thing. >> You had to do this thing. >> or it was this narrow thing this thing I >> or it was this narrow thing this thing I >> or it was this narrow thing this thing I had to search for in this room and it had to search for in this room and it had to search for in this room and it was so hard to find and I needed this was so hard to find and I needed this was so hard to find and I needed this brilliant idea. brilliant idea. brilliant idea. And if I just I Is this the brilliant And if I just I Is this the brilliant And if I just I Is this the brilliant idea? Where is the brilliant idea that I idea? Where is the brilliant idea that I idea? Where is the brilliant idea that I need perfect execution? I remember need perfect execution? I remember need perfect execution? I remember opportunity just felt so scarce. And opportunity just felt so scarce. And opportunity just felt so scarce. And then one of the things of you move to then one of the things of you move to then one of the things of you move to San Francisco, you meet a bunch of San Francisco, you meet a bunch of San Francisco, you meet a bunch of people, we start doing this podcast. people, we start doing this podcast. people, we start doing this podcast. It's like you just realize, "Oh, dude, It's like you just realize, "Oh, dude, It's like you just realize, "Oh, dude, there's thousands of different tens of there's thousands of different tens of there's thousands of different tens of thousands of different ways that I can thousands of different ways that I can thousands of different ways that I can win. Opportunity is ever. It's really win. Opportunity is ever. It's really win. Opportunity is ever. It's really about picking what's the right fit for about picking what's the right fit for about picking what's the right fit for me. It was a total like from lack to me. It was a total like from lack to me. It was a total like from lack to abundance mindset shift on abundance mindset shift on abundance mindset shift on success. Like, where does success live? success. Like, where does success live? success. Like, where does success live? And like, what I like about a thing like And like, what I like about a thing like And like, what I like about a thing like this that we did today is this that we did today is this that we did today is those are three ideas that didn't even those are three ideas that didn't even those are three ideas that didn't even exist in my my cone of vision, you know, exist in my my cone of vision, you know, exist in my my cone of vision, you know, I couldn't even I didn't even know that I couldn't even I didn't even know that I couldn't even I didn't even know that people do businesses like that. people do businesses like that. people do businesses like that. >> also [clears throat] parts of their >> also [clears throat] parts of their >> also [clears throat] parts of their business and their lifestyles and business and their lifestyles and business and their lifestyles and personality that I want to like like I personality that I want to like like I personality that I want to like like I love and I want to steal. love and I want to steal. love and I want to steal. >> Right. >> Right. >> Right. >> But I don't admire the whole thing. >> But I don't admire the whole thing. >> But I don't admire the whole thing. Like, for example, Alex, I'm like, oh Like, for example, Alex, I'm like, oh Like, for example, Alex, I'm like, oh man, he's so calm, like like, oh, I need man, he's so calm, like like, oh, I need man, he's so calm, like like, oh, I need to learn from that. I don't necessarily to learn from that. I don't necessarily to learn from that. I don't necessarily want to trade what I have for what he want to trade what I have for what he want to trade what I have for what he has, but like I want to steal this from has, but like I want to steal this from has, but like I want to steal this from him and I him and I him and I >> He wasn't in a rush. >> He wasn't in a rush. >> He wasn't in a rush. >> Yeah. >> Yeah. >> Yeah. >> For better and for worse, but mostly for >> For better and for worse, but mostly for >> For better and for worse, but mostly for better. better. better. >> And same with Brian, huge business >> And same with Brian, huge business >> And same with Brian, huge business taking off. I don't want to do all those taking off. I don't want to do all those taking off. I don't want to do all those stunts. I don't want to raise VC, but stunts. I don't want to raise VC, but stunts. I don't want to raise VC, but that's pretty awesome. that's pretty awesome. that's pretty awesome. >> admire the creativity and the like >> admire the creativity and the like >> admire the creativity and the like >> uh >> uh >> uh Josh's outdoor business, I'm like, Josh's outdoor business, I'm like, Josh's outdoor business, I'm like, that's awesome. I don't want to raise that's awesome. I don't want to raise that's awesome. I don't want to raise money, but like it would be maybe fun to money, but like it would be maybe fun to money, but like it would be maybe fun to own one. Like, you know, like there's own one. Like, you know, like there's own one. Like, you know, like there's really small really small really small >> I should go camping. >> I should go camping. >> I should go camping. >> Yeah. >> Yeah. >> Yeah. >> [laughter] >> [laughter] >> [laughter] >> And no, but there's like small things >> And no, but there's like small things >> And no, but there's like small things where I like I you know, I think um where I like I you know, I think um where I like I you know, I think um people will sometimes in the comments people will sometimes in the comments people will sometimes in the comments tease us about like having I hate when tease us about like having I hate when tease us about like having I hate when people say you have these guests that people say you have these guests that people say you have these guests that are out of touch. Whenever I hear that, are out of touch. Whenever I hear that, are out of touch. Whenever I hear that, I'm like, no, you're out of touch with I'm like, no, you're out of touch with I'm like, no, you're out of touch with his life. his life. his life. >> [laughter] >> [laughter] >> [laughter] >> Yeah, that's about you. >> Yeah, that's about you. >> Yeah, that's about you. >> Yeah, you're out of touch. No, but what >> Yeah, you're out of touch. No, but what >> Yeah, you're out of touch. No, but what I mean is I'm like, I am equally I mean is I'm like, I am equally I mean is I'm like, I am equally impressed by like a billion-dollar impressed by like a billion-dollar impressed by like a billion-dollar company versus a five-million-dollar company versus a five-million-dollar company versus a five-million-dollar company. They're all they're both company. They're all they're both company. They're all they're both equally awesome. equally awesome. equally awesome. >> So, somebody uh Jesse Itzler said this >> So, somebody uh Jesse Itzler said this >> So, somebody uh Jesse Itzler said this at one of our events. He got It was like at one of our events. He got It was like at one of our events. He got It was like an intro. Like, I want to somebody What an intro. Like, I want to somebody What an intro. Like, I want to somebody What do people What should people know about do people What should people know about do people What should people know about you? He's like, hey, I'm Jesse Itzler, you? He's like, hey, I'm Jesse Itzler, you? He's like, hey, I'm Jesse Itzler, blah blah blah, I do this that. blah blah blah, I do this that. blah blah blah, I do this that. And he goes, my thing is I root for And he goes, my thing is I root for And he goes, my thing is I root for everybody. Because when you root for everybody. Because when you root for everybody. Because when you root for everybody, you can never lose. And then everybody, you can never lose. And then everybody, you can never lose. And then he sat down, and I was like, yo, I kind he sat down, and I was like, yo, I kind he sat down, and I was like, yo, I kind of like that fortune cookie [ __ ] he just of like that fortune cookie [ __ ] he just of like that fortune cookie [ __ ] he just did. I like did. I like did. I like >> Is Jesse Itzler really a cool black man? >> Is Jesse Itzler really a cool black man? >> Is Jesse Itzler really a cool black man? >> Yeah, yeah. >> Yeah, yeah. >> Yeah, yeah. >> [laughter] >> No, he's the best. It's cool black guys >> No, he's the best. It's cool black guys like him. like him. like him. >> Yeah. >> Yeah. >> Yeah. >> And it's like, whoa. >> And it's like, whoa. >> And it's like, whoa. That's like the next level. So, in the That's like the next level. So, in the That's like the next level. So, in the same way of like you when you root for same way of like you when you root for same way of like you when you root for everybody you can never lose, there's everybody you can never lose, there's everybody you can never lose, there's something like if you think you can something like if you think you can something like if you think you can learn from everybody, you can never learn from everybody, you can never learn from everybody, you can never lose, right? So, it's like great, lose, right? So, it's like great, lose, right? So, it's like great, tomorrow we're talking to Ray Dalio. tomorrow we're talking to Ray Dalio. tomorrow we're talking to Ray Dalio. There's going to be some awesome things There's going to be some awesome things There's going to be some awesome things to learn from him. Again, parts, not the to learn from him. Again, parts, not the to learn from him. Again, parts, not the whole. We're not trying to do what he's whole. We're not trying to do what he's whole. We're not trying to do what he's doing, but I'm still going to pull doing, but I'm still going to pull doing, but I'm still going to pull something away. something away. something away. I'm going to get a win and I'm going to I'm going to get a win and I'm going to I'm going to get a win and I'm going to have some fun in that hour. have some fun in that hour. have some fun in that hour. >> Just in the same way I I got wins and >> Just in the same way I I got wins and >> Just in the same way I I got wins and learnings and fun in this hour. I think learnings and fun in this hour. I think learnings and fun in this hour. I think the new slogan should be we can we we the new slogan should be we can we we the new slogan should be we can we we get get get you know, high high and low low because you know, high high and low low because you know, high high and low low because I get like equal joy. Like we'll go to I get like equal joy. Like we'll go to I get like equal joy. Like we'll go to the we'll like pop into a bodega. I'll the we'll like pop into a bodega. I'll the we'll like pop into a bodega. I'll love that [ __ ] And now we're going to love that [ __ ] And now we're going to love that [ __ ] And now we're going to go hang out with like the 80th the go hang out with like the 80th the go hang out with like the 80th the richest person in the world. I'm going richest person in the world. I'm going richest person in the world. I'm going to love that equally. to love that equally. to love that equally. >> Right. >> Right. >> Right. >> Um all right, that's it. That's the pod.