Latest / Earn Your Leisure / EYL #122 Gary Vee on the Future of Business, Social Media, & Virtual Reality
Transcript
- 0:00Speaker 1: Coach, the energy out there felt different. What changed for
- 0:03Speaker 1: the team today?
- 0:03Speaker 2: It was the new game day scratches from the California
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- 0:07Speaker 3: Everything.
- 0:07Speaker 2: Those games sent the team's energy through the roof.
- 0:09Speaker 1: Are you saying it was the off field play that
- 0:11Speaker 1: made the difference on the field.
- 0:13Speaker 2: Hey, little play makes your day, and today it made
- 0:15Speaker 2: the game. That's all for now, Coach, one more question.
- 0:19Speaker 4: Played the new Los Angeles Chargers, San Francisco forty nine
- 0:21Speaker 4: ers and Los Angeles Rams scratchers from the California Lottery.
- 0:25Speaker 4: A little play can make your day. Peace made responsibilit
- 0:28Speaker 4: must be eighteen years or older to purchase late or
- 0:29Speaker 4: claim ERNs.
- 0:30Speaker 5: It's twenty twenty one that ye have execution. In order
- 0:32Speaker 5: to execute, we have to have information. And the number
- 0:34Speaker 5: one place that get the information EYL University Shotty tell
- 0:37Speaker 5: them what we bring in.
- 0:38Speaker 6: Yes, EYL University has been reloaded. We already have one
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- 1:27Speaker 5: See you on the other side.
- 1:30Speaker 7: My graduates from my school being forced back drop.
- 1:35Speaker 3: Bag drop, Mike, drop back, drop drop.
- 1:49Speaker 6: All right, guys, welcome back EYL. This is a long
- 1:52Speaker 6: anticipated episode something that you know, I'm sure everybody, all
- 1:57Speaker 6: the earners all across the world are extremely excited about.
- 1:59Speaker 6: Somebody He's asking for it for the exception of Ernialisia,
- 2:02Speaker 6: and as we've gotten bigger.
- 2:05Speaker 3: The guests has just gotten That's true. Yeah, So you know,
- 2:08Speaker 3: Gary Vaynerchuk, did I pronounce that correctly.
- 2:12Speaker 5: I think he did a good job.
- 2:13Speaker 3: Okay, Okay, you nailed it.
- 2:16Speaker 6: Okay, better known as Gary V. Serial entrepreneur, chairman of
- 2:21Speaker 6: his own Communications.
- 2:22Speaker 5: We got a new word form. We got new word
- 2:23Speaker 5: form operating entrepreneur.
- 2:25Speaker 3: There you have it.
- 2:26Speaker 6: CEO CEO, CEO of the Media Ad Agency, Social Media,
- 2:32Speaker 6: trail Blazer, Angel Investor, Cultural Icon. Couldn't keep going on
- 2:36Speaker 6: and on, but yeah, for sure. So first and foremost, Gary,
- 2:40Speaker 6: thank you for joining us.
- 2:41Speaker 8: Appreciate it, Matt, I really appreciate your time, and I'm excited.
- 2:45Speaker 7: To be here.
- 2:46Speaker 6: Yeah, for sure. So let's jump right into it. Our
- 2:49Speaker 6: show is a little different because, you know, we break
- 2:51Speaker 6: down the business models, we break down entrepreneur success. Like
- 2:54Speaker 6: when we had Mark Cuban on shout out to Mark
- 2:56Speaker 6: and we asked him about his deal that he did
- 2:58Speaker 6: when he sold it and then he you know, had
- 3:00Speaker 6: the stock and he gave a great explanation. So a
- 3:02Speaker 6: lot of people might or they may or they may
- 3:03Speaker 6: not know your story. They heard the story about you
- 3:06Speaker 6: started in the wine business, your family's wine business right
- 3:10Speaker 6: in the late nineties and turned it from three million
- 3:13Speaker 6: operation to I believe a sixty million dollar operation and
- 3:16Speaker 6: you did it. It was early in it we called
- 3:18Speaker 6: digital real estate and first wine e commerce platform. So
- 3:23Speaker 6: can you talk about that, how you had the foresight
- 3:25Speaker 6: and how you actually transitioned that and how you was
- 3:27Speaker 6: early onto the e commerce phase.
- 3:31Speaker 8: Timing is incredible about this. I just literally literally got
- 3:35Speaker 8: off the phone with my six best buds from college.
- 3:39Speaker 8: Shout out to three oh one the spot, Miss Iraq,
- 3:42Speaker 8: d justin La Tokyo, Joe, and Glen. It was there
- 3:47Speaker 8: in Mount Ida College in Newton, mass in nineteen ninety
- 3:52Speaker 8: five when p from Maine we had nicknames for everybody.
- 3:58Speaker 8: Pete from Maine said come and check this out. And
- 4:01Speaker 8: I heard coo coooch for the first time, and I said,
- 4:07Speaker 8: the fuck is this? And He's like, this is the
- 4:09Speaker 8: World Wide Web.
- 4:10Speaker 7: And I was like, I heard about that shit, and I.
- 4:13Speaker 8: Want this is how for the kids that are listening
- 4:15Speaker 8: to how crazy the internet was. In ninety four ninety five,
- 4:18Speaker 8: I waited my turn to get on the computer to
- 4:22Speaker 8: go on AOL.
- 4:23Speaker 7: It was so crazy, this.
- 4:25Speaker 8: Thing like being on the Internet and seeing people in
- 4:28Speaker 8: chat rooms that I watched it as a spectator while
- 4:32Speaker 8: my man was on the keyboard. And I finally like
- 4:36Speaker 8: an hour later, sat down and clicked a couple of
- 4:40Speaker 8: buttons and found myself on a baseball card bulletin board
- 4:44Speaker 8: in AOL and about seven minutes into my Internet life,
- 4:49Speaker 8: which was this, I said, this is going to change
- 4:52Speaker 8: my life straight up, just like that, like straight out
- 4:54Speaker 8: of fucking movie. And that started the conversation in my
- 4:59Speaker 8: head which late to six months later saying to my dad, Dad,
- 5:03Speaker 8: we need a website for the liquor store. We didn't
- 5:07Speaker 8: have a computer. My dad didn't take credit cards, like
- 5:10Speaker 8: he was old school. I was born in the Soviet Union.
- 5:13Speaker 8: He's like cash only, doesn't trust people, like, wouldn't take checks,
- 5:16Speaker 8: doesn't believe in anybody, like you know, like all that
- 5:18Speaker 8: stuff like and and I got him there. I just
- 5:23Speaker 8: completely knew the same, you know.
- 5:25Speaker 7: It's funny.
- 5:26Speaker 8: The one skill I really have is my intuition about
- 5:31Speaker 8: things and people is heavy.
- 5:33Speaker 7: Like it's just really my biggest thing.
- 5:36Speaker 8: So like literally looking at the Internet or looking at
- 5:38Speaker 8: the investments I made, Facebook, Twitter, Coinbase, or the fact
- 5:42Speaker 8: that I bought bitcoin in twenty fourteen is no different
- 5:47Speaker 8: than me thinking that Gunna or the baby was gonna
- 5:50Speaker 8: be good, or that I thought Alvin Kamara was going
- 5:54Speaker 8: to be a good player when we started van Ter Sports,
- 5:56Speaker 8: even though he was the backup running back at Tennessee.
- 5:59Speaker 8: There's there's something in me that understands people and understands
- 6:04Speaker 8: what people are going to do. And that's been my
- 6:06Speaker 8: whole life. Like if I was an A and R guy,
- 6:09Speaker 8: I would dominate. If I was a scientist, like looking
- 6:12Speaker 8: at spiders for twenty years in the woods, I would
- 6:15Speaker 8: figure it out, Like that's my thing. And so that's
- 6:20Speaker 8: what happened with the Internet. That's how it started. And
- 6:22Speaker 8: I you know my mission in my twenties. You know,
- 6:24Speaker 8: I was king this country with nothing. I was born
- 6:27Speaker 8: in Russia, lived in a studio in Queen's with like
- 6:29Speaker 8: eight family members. Like I grew up rugged, Like my
- 6:31Speaker 8: mom was frugal and wasn't about didn't have money. So
- 6:35Speaker 8: I was like if I wanted Nintendo, if I wanted stuff,
- 6:39Speaker 8: I had to buy it as a kid.
- 6:40Speaker 7: So I'd always fight for.
- 6:42Speaker 8: Money and business and my number one goal was to
- 6:47Speaker 8: help my parents liquor store business. Like I gave up
- 6:51Speaker 8: my twenties, all of my twenties. Man, when kids talk
- 6:54Speaker 8: to me about like, oh, I'm like, I gave up
- 6:57Speaker 8: all my twenties to build a business for my parents.
- 6:59Speaker 8: I left with zero ownership of that business, and I
- 7:02Speaker 8: blew that business up from three to sixty million. And
- 7:04Speaker 8: you know, sometimes people try to rag on me, like, ah,
- 7:06Speaker 8: you got handed shit.
- 7:07Speaker 7: I'm like, you think that's what happened. Let me tell
- 7:09Speaker 7: you the truth.
- 7:10Speaker 8: I took a business from three to sixty million, never
- 7:13Speaker 8: got paid shit because in the family business, you put
- 7:15Speaker 8: all back in the business. So it's one thing if
- 7:17Speaker 8: you make money for somebody else in a corporation, but
- 7:19Speaker 8: at least you get paid a million dollars a year.
- 7:21Speaker 8: I was getting paid fifty sixty seventy thousand a year
- 7:24Speaker 8: building a big ass business, And at thirty four years old,
- 7:27Speaker 8: left and had to start my company in somebody else's
- 7:30Speaker 8: conference room Vayner Media, in Buddy Media's conference room, because
- 7:33Speaker 8: I didn't have the money to pay rent.
- 7:36Speaker 5: So this is this is pre social media. So what
- 7:39Speaker 5: strategies that you use in to build a company from
- 7:41Speaker 5: three to sixty right? Because this is I mean, Internet
- 7:44Speaker 5: is just help yep.
- 7:46Speaker 8: Back then, it was email and Google AdWords that really
- 7:49Speaker 8: took me off, right, and banner ads.
- 7:52Speaker 7: People used to click banner ads kids.
- 7:54Speaker 8: I would buy a banner ad for five hundred dollars
- 7:56Speaker 8: a month on a website like wine dot, like a
- 7:59Speaker 8: Windspectator dot, and people click that shit. You know, back
- 8:02Speaker 8: then everyone was curious about everything, like banners are like,
- 8:05Speaker 8: oh cool.
- 8:06Speaker 7: It was kind of like cool.
- 8:07Speaker 8: You're like, oh shit, takes me somewhere else, like you know,
- 8:10Speaker 8: you know again, I'm talking like it's one hundred years ago.
- 8:13Speaker 8: It's only twenty five years ago. But it's like it's
- 8:16Speaker 8: like a it's a lifetime ago. It was cell phones.
- 8:19Speaker 7: It was crazy.
- 8:19Speaker 8: There was no laptops, Like you got to sit at
- 8:21Speaker 8: a fucking desk to be on the internet.
- 8:23Speaker 5: This feels like a scene in the Record Ralph movie.
- 8:26Speaker 5: He's just present there.
- 8:28Speaker 8: But so banner ads being you know, a little early
- 8:32Speaker 8: social called forums, remember bulletin boards and messages.
- 8:36Speaker 7: I was part.
- 8:37Speaker 8: I was part of those, all the wineboards. They're like,
- 8:40Speaker 8: why do you know so much I own or my
- 8:42Speaker 8: family owns or my dad and I run this place
- 8:45Speaker 8: called wine Library. Check it out win library dot com.
- 8:47Speaker 8: Two clicks, five clicks, like real like bricklaying sh you know.
- 8:51Speaker 8: And then and then I figured out email in ninety seven.
- 8:55Speaker 8: I was like, okay, this is gonna be big. And
- 8:57Speaker 8: so I just started asking every customer that came into
- 8:59Speaker 8: the liquor store, you got to email. And then again
- 9:01Speaker 8: back to the old days twenty five years ago, people
- 9:03Speaker 8: be like, yeah, I got an email, it's AOL at
- 9:06Speaker 8: Yahoo dot com.
- 9:09Speaker 7: You know, like it was, but it was crazy.
- 9:11Speaker 8: Luckily, the store was in Jersey where a lot of
- 9:14Speaker 8: people worked in Wall Street, and the Wall Street cats
- 9:17Speaker 8: had email pretty early, and so you know, started getting
- 9:21Speaker 8: that Wall Street clientele, and that's you know, I really
- 9:24Speaker 8: started changing our business.
- 9:26Speaker 7: But catalogs. I did catalogs, direct mail.
- 9:29Speaker 8: Newspaper, full page ads in the New York Times and
- 9:32Speaker 8: Wall Street Journal and Star Ledger and Jersey Big shout out.
- 9:34Speaker 8: When I was you know, when I made a couple
- 9:36Speaker 8: of bucks and was able to put the money, you know,
- 9:38Speaker 8: it was all family immigrant businesses are. You don't take
- 9:41Speaker 8: money out to buy shit, You put it back into business,
- 9:44Speaker 8: back in the business, back in the business. So one
- 9:46Speaker 8: of the reasons I never really amassed a lot of
- 9:48Speaker 8: money during that time was my dad wasn't paying me
- 9:52Speaker 8: or him any real money. Every dollar was back into advertising,
- 9:56Speaker 8: back into more employees, back back back, and so we
- 9:58Speaker 8: were feeding one of the reasons.
- 10:01Speaker 7: I tell a lot of entrepreneurs now, like, feed your business.
- 10:04Speaker 8: You know, everyone wants to be an entrepreneur to take
- 10:06Speaker 8: it out and buy a fucking rollie, right and buy
- 10:08Speaker 8: a bent and like and buy like some And I'm like, no, no, no,
- 10:12Speaker 8: no, no no no no no, don't flex yet you just
- 10:14Speaker 8: started put it back in back in. Your watch will
- 10:17Speaker 8: be more expensive, your trip will be nicer, your flying
- 10:21Speaker 8: accommodations will be better. But you got to feed your
- 10:23Speaker 8: business for a minute.
- 10:25Speaker 6: Yeah, stay down till you come up. So you talked
- 10:29Speaker 6: about how you left the company and left with zero.
- 10:32Speaker 6: So you left with Hey, why did you leave? So
- 10:35Speaker 6: it's a family business, you grew it, it's sixty million dollars,
- 10:38Speaker 6: it's you know, going nicely, ten x the whole situation,
- 10:41Speaker 6: on twenty x the whole situation.
- 10:42Speaker 3: So did why did you leave?
- 10:44Speaker 8: And get some real shitre Three main reasons resentment, my
- 10:51Speaker 8: brother's eleven years younger than me, and I love my pops.
- 10:54Speaker 7: Let me break them down for you, because you guys
- 10:57Speaker 7: go deep heer.
- 10:57Speaker 8: I'm gonna give it to you shit that I don't
- 10:59Speaker 8: usually talk about. You work fifteen hours a day, including Saturdays,
- 11:04Speaker 8: because you're in the retail business from twenty two to
- 11:07Speaker 8: thirty two years old, no fun, no trips, work fifteen
- 11:11Speaker 8: hours a day, real shit now, not like fucking like
- 11:14Speaker 8: propaganda where people acting like they're working in the store
- 11:17Speaker 8: eight am, leave the store, ten pm, in the store
- 11:21Speaker 8: seven am, leave the store eleven pm. For fucking ten years,
- 11:25Speaker 8: and you take it from three point eight million to
- 11:29Speaker 8: sixty and you have no real, real, real money like that,
- 11:33Speaker 8: and now you're married and you've got a little bit
- 11:35Speaker 8: of right, you start being fucked up a little.
- 11:41Speaker 7: Got it.
- 11:41Speaker 5: I'm just talking.
- 11:41Speaker 7: Really, I was like, yo, I was a kid. I
- 11:45Speaker 7: you know.
- 11:45Speaker 8: Now, listen, the reason I wasn't really fucked up and
- 11:47Speaker 8: it was okay was I wanted that I wanted to
- 11:50Speaker 8: pay my parents back.
- 11:51Speaker 7: I knew I was fucking great. I knew it.
- 11:53Speaker 8: I knew what's going on with me right now. And
- 11:55Speaker 8: on some record, on the record, shit, I even started. No,
- 12:00Speaker 8: I'm being really honest with you guys, like you're you're
- 12:03Speaker 8: gonna look at this video and thirteen years A gonna
- 12:05Speaker 8: be like, damn, he really wasn't even like in the
- 12:07Speaker 8: same universe, Like I mean it, I really feel like
- 12:10Speaker 8: I'm just starting.
- 12:10Speaker 7: I'm patient. I know life is long. I have wisdom.
- 12:14Speaker 8: I hung out with old old grandparents all the time
- 12:17Speaker 8: as a kid, and I never understood why, And now
- 12:18Speaker 8: I understand. I'm an old soul. I was patient. I
- 12:21Speaker 8: knew I could give up my twenties for my parents.
- 12:23Speaker 8: Feel good about that. Feel like I really put them
- 12:25Speaker 8: on because they put me on. Be like, you know,
- 12:28Speaker 8: settle that settle that bad.
- 12:29Speaker 7: You know what I mean? Now we even really I
- 12:33Speaker 7: was a little bit like that.
- 12:33Speaker 8: I needed it for me, but I really love my
- 12:35Speaker 8: parents and some real shit to the best. I was like,
- 12:38Speaker 8: fuck it, I'm gonna get mine regardless. Let me really
- 12:40Speaker 8: do something here. But now, after a decade, I started
- 12:44Speaker 8: getting into that little place of like number two. My
- 12:47Speaker 8: brother's eleven years younger than me. My parents were twenty
- 12:50Speaker 8: when they had me, like that old Russia shit, you know.
- 12:52Speaker 8: Like So, so my brother was coming up and he
- 12:56Speaker 8: didn't want to work with my dad.
- 12:57Speaker 7: My dad's a tough like.
- 12:58Speaker 8: My dad's a different kind of person, old school, and
- 13:00Speaker 8: he didn't want to be about that, And so I
- 13:02Speaker 8: wanted to jam with him. You know, I've been teaching
- 13:05Speaker 8: him entrepreneurship since he was a kid eBay, garage sales,
- 13:07Speaker 8: all that shit that people know about me.
- 13:08Speaker 7: So I really wanted to jam with him.
- 13:10Speaker 8: So we kind of decided somewhere around his senior high
- 13:13Speaker 8: school freshman ye of college.
- 13:14Speaker 7: Like we're going to do this.
- 13:15Speaker 8: So that was in the back of my mind, and
- 13:17Speaker 8: you know, I left when he graduated. He graduated in
- 13:20Speaker 8: May of two thousand and nine and I left started Vannermedia,
- 13:23Speaker 8: but I was doing both. I was doing Wine Library
- 13:25Speaker 8: with Vayner Media from two thousand and nine to twenty
- 13:27Speaker 8: eleven and then number three. I loved my dad. Let
- 13:31Speaker 8: me explain. My dad was one of the guys. He
- 13:34Speaker 8: was one of the ten to fifteen guys in the
- 13:36Speaker 8: liquor business in Jersey. He had one of the good
- 13:37Speaker 8: stores toing four million a liquor store in the eighties.
- 13:40Speaker 8: That's real money. You know, it's a different day, different age.
- 13:43Speaker 8: There was no major players. Liquor business is fragmented. You
- 13:46Speaker 8: don't have Walmarts and shit like that. So he was
- 13:49Speaker 8: a guy. He was one of the guys. He was
- 13:50Speaker 8: one of the people that could throw around some clout.
- 13:52Speaker 8: He was one of the bigger buyers and he loved it.
- 13:54Speaker 8: He loved it. I came along and took that shit
- 13:58Speaker 8: to the fucking moon. So I became the guy. And
- 14:03Speaker 8: so now all of a sudden, you see where I'm
- 14:04Speaker 8: going right now? The suppliers people, Yeah, all of a sudden,
- 14:08Speaker 8: my dad lost his clout. Yeah, and my dad and
- 14:11Speaker 8: I wasn't about sharing it either, because I took the
- 14:13Speaker 8: wheel and was like, no one person can drive, So like,
- 14:15Speaker 8: go in the passenger seat. I love you, Dad, You're
- 14:18Speaker 8: still my dad, And you could always call that once
- 14:20Speaker 8: in a blue moon dad card and make me do
- 14:22Speaker 8: something I don't want to do. But ninety eight percent
- 14:24Speaker 8: of time I'm driving. And the first year that I
- 14:28Speaker 8: did the business, he was renovating and decided to build
- 14:31Speaker 8: a new house for him and my mom. He loves construction,
- 14:34Speaker 8: so they built a new house. And that first year
- 14:36Speaker 8: we went from four to ten million, and he kind
- 14:39Speaker 8: of looked, He's like fuck.
- 14:42Speaker 7: Three, right, So he was like.
- 14:44Speaker 8: I love you, but fuck, I'm not going to mess
- 14:47Speaker 8: with this. Next year seventeen and he's like, okay, I
- 14:49Speaker 8: got something. And so but what that did was I
- 14:52Speaker 8: was willing to do it for him, but I was
- 14:54Speaker 8: going to take the shine. I was going to have
- 14:56Speaker 8: the leverage. I was going to be the guy and
- 15:00Speaker 8: and I loved my dad, and we were starting to
- 15:02Speaker 8: have conflict. It was pretty cool for the first eight
- 15:05Speaker 8: or nine years, little things, but now we were starting
- 15:08Speaker 8: to have consistent conflict. I had my resentment up. I
- 15:11Speaker 8: become real famous in the liquor business, the guy guy,
- 15:14Speaker 8: and nobody gave a shit about my dad. And I
- 15:16Speaker 8: saw the pain and his eyes, and it hurt me
- 15:18Speaker 8: because I loved my dad and people forgot about his part.
- 15:20Speaker 8: He came to America with no language, he came to
- 15:23Speaker 8: America with no money. He came to America and took
- 15:25Speaker 8: all the risk and went from and what he did
- 15:28Speaker 8: from zero to what he did, I know, I'm going
- 15:31Speaker 8: to the tippy top of all time, and I'm still
- 15:33Speaker 8: going to always admire what he did from zero to
- 15:35Speaker 8: that spot, right, And I have my own zero story,
- 15:38Speaker 8: but it's different, and he's my dad, and so it
- 15:41Speaker 8: just felt like the right time.
- 15:42Speaker 7: If that makes sense that translation.
- 15:44Speaker 6: That's an honest answer. So when you start the media company,
- 15:48Speaker 6: I'm assuming, all right, so you learn early as far
- 15:51Speaker 6: as emails and internet marketing and all of that, So
- 15:55Speaker 6: you just transitioned that into.
- 15:58Speaker 8: Ye ye have two thousand and six, YouTube comes out
- 16:01Speaker 8: and I'm like, this is gonna be big. I hate
- 16:03Speaker 8: it again?
- 16:04Speaker 3: Why you Why did you think YouTube was gonna be big?
- 16:07Speaker 8: Because I thought the internet was gonna take over the world,
- 16:09Speaker 8: and here was the first thing I ever saw that
- 16:10Speaker 8: did videos proper, you know.
- 16:14Speaker 7: I was like, this is it. And you know what's
- 16:16Speaker 7: beautiful about being old is you got the receipts. Go
- 16:18Speaker 7: to YouTube.
- 16:19Speaker 8: Type in Wine Library, episode one, February twenty first, two
- 16:23Speaker 8: thousand and six, when it was still independent.
- 16:25Speaker 7: Google hadn't even bought it. I saw it.
- 16:28Speaker 8: The video starts with me saying, I think this is
- 16:30Speaker 8: the first wine show on the internet, Like you know
- 16:31Speaker 8: what I mean.
- 16:32Speaker 5: Like, yeah, I watched it. I watched it.
- 16:34Speaker 7: I appreciate it. But so I saw it, I did it,
- 16:37Speaker 7: and I was right.
- 16:39Speaker 8: And then YouTube sells for one seven one point seven
- 16:42Speaker 8: billion in two thousand and seven, and to help everybody here,
- 16:46Speaker 8: that'd be like TikTok selling for a trillion to Facebook
- 16:50Speaker 8: right now.
- 16:51Speaker 7: The number was crazy.
- 16:52Speaker 8: Back then, one seven was like like, you didn't even
- 16:57Speaker 8: think about shit like that, right, And so that happened,
- 17:02Speaker 8: and that's when my career really took off. I said,
- 17:04Speaker 8: wait a minute. I was right about dot com, I
- 17:07Speaker 8: was write about email. I was right about Google AdWords.
- 17:10Speaker 8: I was right about you know, blogging, even though I
- 17:13Speaker 8: didn't do it. I was right about this YouTube thing.
- 17:16Speaker 8: Maybe I'm not just a good businessman or ricker, store
- 17:19Speaker 8: runner or seller. I might be good at like just
- 17:22Speaker 8: knowing shit. That's literally the combo I had with myself.
- 17:25Speaker 8: And I read an article that YouTube had angel investors,
- 17:30Speaker 8: and I was like, what's an angel investor? I googled
- 17:32Speaker 8: it and I was like, I'm going to be an
- 17:34Speaker 8: angel investor. And the next year I went to south
- 17:37Speaker 8: By Southwest cause I got to put you got.
- 17:39Speaker 7: To put yourself in it. If you're going to be
- 17:40Speaker 7: in it.
- 17:41Speaker 8: I want the Silicon Valley a bunch. And within the
- 17:44Speaker 8: year of me deciding that to that one hundred and
- 17:48Speaker 8: fifty I don't remember eighty to one hundred and fifty
- 17:50Speaker 8: K I saved because I was living in a bullshit apartment,
- 17:53Speaker 8: never going out. So even though I was making fifty,
- 17:56Speaker 8: I was saving four thousand a years, making save in
- 17:59Speaker 8: eight that in a year. You see what I'm saying.
- 18:01Speaker 8: So when I tell kids with my content, like be
- 18:04Speaker 8: humble I lived. I don't give advice that I fucking
- 18:07Speaker 8: read in a book. I don't give advice that I
- 18:09Speaker 8: didn't live. So because I was living humble and not
- 18:13Speaker 8: buying dumb shit, even though I wasn't making much, I
- 18:16Speaker 8: had a little something. And now I saw this opportunity
- 18:20Speaker 8: and the first three companies I invested in for Facebook, Twitter,
- 18:24Speaker 8: and Tumblr, and it changed my life.
- 18:28Speaker 6: So the Angel conversation is extremely interesting because a lot
- 18:30Speaker 6: of people might not know your angel investors. So that's
- 18:32Speaker 6: a that's the perfect three companies to invest in. So
- 18:35Speaker 6: Angel invest in VC world is like, you know, people
- 18:38Speaker 6: have been around for decades that do that with billions
- 18:41Speaker 6: of dollars. So you come even with a couple of
- 18:43Speaker 6: hundred thousand, that's not really real money in the U.
- 18:45Speaker 8: Different than though, Like I invested in Tumblr's B round
- 18:49Speaker 8: at fourteen million dollar valuation. A B round now is
- 18:52Speaker 8: like four hundred million. It was a different world when
- 18:54Speaker 8: I did it. Nobody there was nobody coming at these
- 18:57Speaker 8: kids like that. Back then, nobody believed in the Internet
- 18:59Speaker 8: like this. Like I was able to talk to Mark
- 19:01Speaker 8: Zuckerberg too Williams, to David Carr, like I was talking
- 19:05Speaker 8: to the person. It just wasn't that shine like it was.
- 19:08Speaker 8: It was like Hip Hop eighty five versus today basketball.
- 19:13Speaker 5: So for the what round did you get in in Facebook?
- 19:18Speaker 8: So Facebook I bought from Mark's parents two years before
- 19:23Speaker 8: the IPO because I became friendly with the Facebook crew
- 19:25Speaker 8: and Randy and Mark because Randy and his sister worked
- 19:28Speaker 8: at the company. I'd flown out to speak to the company.
- 19:31Speaker 8: I would hang with them at conferences. So one day
- 19:35Speaker 8: I just got a call from Randy saying, you know,
- 19:38Speaker 8: my parents want to sell some of the Spacebook stock
- 19:40Speaker 8: before the IPO because they want to move to California
- 19:42Speaker 8: and build a house and be near us.
- 19:44Speaker 7: Would you like something?
- 19:45Speaker 8: She didn't start, she didn't finish, saying my parents and
- 19:49Speaker 8: I already wired the money because I knew Facebook was
- 19:53Speaker 8: going to win. And then Tumblr was one of the
- 19:55Speaker 8: big companies out of New York because shit wasn't happening
- 19:59Speaker 8: in New York.
- 19:59Speaker 7: So tumbl out in New York.
- 20:00Speaker 8: And I noticed junior high kids were on Tumblr in
- 20:04Speaker 8: two thousand and eight, two thousand and seven, and I
- 20:07Speaker 8: was like, wait, that might be next because all the
- 20:09Speaker 8: youngsters are on it.
- 20:10Speaker 7: And so I got on there and then YEAHO bought
- 20:13Speaker 7: Tumbler for a.
- 20:13Speaker 5: Billion follow youth.
- 20:16Speaker 6: So so as far as like the Angel investment's talking
- 20:20Speaker 6: about the rounds, can you explain now a little bit
- 20:22Speaker 6: because people hear about round, seed round, fund round, A round,
- 20:24Speaker 6: B round, seed round, but they might not actually know
- 20:26Speaker 6: what that actually means.
- 20:28Speaker 8: Just see, you know a lot of people use different
- 20:30Speaker 8: terminology for the same shit. But like you know, the
- 20:33Speaker 8: Angel round is the initial money in. Then usually the
- 20:38Speaker 8: first time a company takes money, the angel, the seed
- 20:40Speaker 8: investment or the angel right high risk, like most of
- 20:44Speaker 8: my Angel investments went to zero, but high reward. You
- 20:49Speaker 8: come in early on something, it can get real crazy.
- 20:53Speaker 8: You know my angel the company called BarkBox that's about
- 20:55Speaker 8: to go public. That's gonna get interesting for me. You know, Angel,
- 21:00Speaker 8: you can get crazy. So then there's the A then
- 21:05Speaker 8: it just goes in. Then it goes in very simple
- 21:08Speaker 8: order for everybody. The A route, it's kind of the
- 21:10Speaker 8: first real money, you know, five million bucks, three million bucks,
- 21:14Speaker 8: Then the B round ten twenty million bucks, then the
- 21:16Speaker 8: C round that's you know when I said ten twenty
- 21:19Speaker 8: that's so much they took in. So they got one
- 21:20Speaker 8: hundred million dollar valuation and they took it to twenty
- 21:24Speaker 8: million dollars in Now that person invested is in for.
- 21:26Speaker 7: Only fifteen percent of the company. I there's that age
- 21:28Speaker 7: because it's one twenty post strains or twenty. So that's
- 21:31Speaker 7: how it goes.
- 21:32Speaker 8: Angel ABCD and usually buy after D you're looking at
- 21:36Speaker 8: going public or selling.
- 21:39Speaker 6: So like a couple of questions in regards to that
- 21:42Speaker 6: for entrepreneurs, how should they prepare themselves to approach an
- 21:46Speaker 6: angel investor? Like what should they already have in place?
- 21:48Speaker 6: Because from my understanding, a company has to have a
- 21:51Speaker 6: certain amount of revenue like already in place before they
- 21:54Speaker 6: can actually get venture capital or angel money.
- 21:56Speaker 3: Is that true?
- 21:56Speaker 8: Or no angel money you can get when you have
- 21:59Speaker 8: nothing thing an idea. Now that comes with privilege. Let's
- 22:05Speaker 8: be very honest here, and I'm not even talking white privilege.
- 22:08Speaker 8: I'm talking rich privilege. I know, unlimited Black Asian trans
- 22:14Speaker 8: You know, if you're running in money circles, you got a.
- 22:16Speaker 7: Shot to get money on an idea. You know.
- 22:22Speaker 8: One of the reasons I stopped investing, and I don't
- 22:24Speaker 8: invest that much. Most of my money right now is
- 22:27Speaker 8: going to sports cards. We can get into that before
- 22:28Speaker 8: we get out.
- 22:29Speaker 3: Of here.
- 22:32Speaker 8: Is it's crazy now like you can get You can
- 22:35Speaker 8: basically say I'm gonna build this, make a deck, go
- 22:39Speaker 8: to people and they give you money based on a
- 22:41Speaker 8: four million dollar, five million dollars six million dollars seven
- 22:44Speaker 8: million dollar valuation. But it's a very small group of
- 22:49Speaker 8: people that have access to that capital, right, and they
- 22:53Speaker 8: usually run from high university Stanford, Harvard, right, or they
- 22:57Speaker 8: run in very rich circles. Your mom and dad have
- 23:00Speaker 8: wealth and you know, their friends happy to write you
- 23:03Speaker 8: two hundred and fifty thousand dollars check at that valuation.
- 23:06Speaker 8: Then you use that to get another person, So.
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- 24:18Speaker 5: This episode is brought to you by P and C Bank.
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- 25:00Speaker 1: Coach, the energy out there felt different. What changed for
- 25:03Speaker 1: the team today?
- 25:04Speaker 2: It was the new game day scratches from the California Lottery.
- 25:06Speaker 3: Play is everything.
- 25:07Speaker 2: Those games sent the team's energy through the roof.
- 25:10Speaker 1: Are you saying it was the off field play that
- 25:12Speaker 1: made the difference on the field.
- 25:13Speaker 2: Hey, little play makes your day, and today it made
- 25:16Speaker 2: the game that's off of now, Coach.
- 25:18Speaker 4: One more question play the new Los Angeles Chargers, San
- 25:20Speaker 4: Francisco forty nine Ers and Los Angeles Rams scratchers from
- 25:23Speaker 4: the California Lottery. A little play can make your day.
- 25:27Speaker 4: Peace made responsibily. It must be eighteen years or older
- 25:29Speaker 4: to purchase plate or claim.
- 25:30Speaker 8: You know you don't need to be making money, And ironically,
- 25:34Speaker 8: in technology it's almost better that you're not. People like
- 25:37Speaker 8: to invest more in the idea. Once you start making money,
- 25:39Speaker 8: they have something to judge you on. It's a crazy
- 25:42Speaker 8: system and I'm not a That concerns me, and which
- 25:47Speaker 8: is why I've been hesitant to go hard in early stage.
- 25:51Speaker 8: I take it a little bit later where people prove
- 25:54Speaker 8: it a little now, no reason to take that risk.
- 25:57Speaker 8: So I'm aware of an A and B guy, if
- 25:58Speaker 8: I really get excited.
- 26:00Speaker 5: So when you when you actually are are going to
- 26:02Speaker 5: go after a company or decide to invest it, is
- 26:05Speaker 5: that why you created vayn or X or is that
- 26:07Speaker 5: something different? Right? Because because that became a holding company
- 26:09Speaker 5: at a certain point, right.
- 26:13Speaker 7: Baaner x is different. I did, so, I did angel investing.
- 26:15Speaker 7: I did real well.
- 26:16Speaker 8: Then I got hooked up with Steve Ross, the owner
- 26:18Speaker 8: Miami Dolphins, and he bought a piece of Vayner Media,
- 26:21Speaker 8: which was the first company, Vaynermedia, which later became vayn
- 26:25Speaker 8: or X. When I started adding companies, so I needed
- 26:27Speaker 8: a holding company for the companies.
- 26:29Speaker 7: Okay, I'll get to that in a minute.
- 26:32Speaker 8: When when Steve Ross invested in bought a piece excuse me,
- 26:35Speaker 8: a Vynroom Media, he also put up the money for
- 26:38Speaker 8: a fund, and I deployed twenty five million dollars out
- 26:41Speaker 8: of a fund as a like a fund.
- 26:44Speaker 7: Right.
- 26:44Speaker 8: So for everyone listening, because we're doing some real good
- 26:47Speaker 8: educating here, that means that I got Normally you get
- 26:50Speaker 8: paid two percent of the number to manage it. But
- 26:53Speaker 8: because I didn't take that from him, because he already
- 26:55Speaker 8: bought a piece of my company, and we're kind of
- 26:57Speaker 8: being homies. But I got twenty percent of it back, right,
- 27:01Speaker 8: So twenty percent of all the earnings. So the twenty
- 27:03Speaker 8: five goes and I get twenty percent of anything that happens, right,
- 27:08Speaker 8: you know. So I don't put up the money. I
- 27:09Speaker 8: make the decisions. But that gives me twenty cents on
- 27:11Speaker 8: a dollar. He gets eighty cents. And with that company,
- 27:14Speaker 8: I made a lot of smart investments. I started a
- 27:17Speaker 8: company with that money called Rezi rs y. Anybody who's
- 27:20Speaker 8: into restaurants, the Resi app.
- 27:22Speaker 7: That was me.
- 27:23Speaker 8: We sold that company for nine figures to AMX eighteen
- 27:27Speaker 8: months ago. I invested in Snapchat, Pinterest, Coinbase, so we
- 27:34Speaker 8: did real well.
- 27:35Speaker 6: So you talked about the holding the holding companies, Why
- 27:38Speaker 6: is that? Why is that employer?
- 27:41Speaker 7: That's important?
- 27:41Speaker 8: Because I had vayner Media one company, and then I
- 27:44Speaker 8: wanted to buy a new company called Purewow Jure whiles
- 27:47Speaker 8: a women's lifestyle brand dot com publisher similar to Refinery
- 27:51Speaker 8: twenty nine or Bustle. You know, I just stood up
- 27:55Speaker 8: a men's brand called one thirty seven PM that everybody
- 27:57Speaker 8: should check out. That's more like complex advice. So when
- 27:59Speaker 8: I bought that company, I didn't want to put it
- 28:01Speaker 8: into Banner Media because it was a different kind of company,
- 28:03Speaker 8: different taxes, different all that. So I created a holding
- 28:06Speaker 8: company called Vayner X. One side of it was Vayner Media.
- 28:09Speaker 8: Another side was what we called Gallery Media Group, which
- 28:12Speaker 8: held pure wow in it. Then we started one thirty
- 28:15Speaker 8: seven pm and then I started going ham. I started
- 28:19Speaker 8: a new company called Sasha Group after my dad, Sasha
- 28:22Speaker 8: to be Vayner Media for small businesses. Then I started
- 28:25Speaker 8: as speaking bureau Vyner Speakers. Then I started a company
- 28:28Speaker 8: for e commerce, Vayner Commerce. You know, I just started
- 28:32Speaker 8: going now and so I've got a series of businesses.
- 28:34Speaker 8: Now we just set up a new company called Vaynor
- 28:36Speaker 8: Talent where we help people build their personal brand and
- 28:39Speaker 8: we represent and manage some people. So now I got
- 28:42Speaker 8: my holding co. And the way you do that, the
- 28:44Speaker 8: reason I sit at the top of the holding co.
- 28:45Speaker 8: I'm the active CEO Vanner Media. But I got people
- 28:47Speaker 8: running the other companies, and you create incentive plans for
- 28:50Speaker 8: them at their level. It all ladders up to the
- 28:53Speaker 8: big level and That's where I'm at.
- 28:56Speaker 3: There you have it.
- 28:57Speaker 6: So as far as one last question about the angel,
- 29:01Speaker 6: what do you look for because you obviously had a
- 29:03Speaker 6: bunch of success Facebook, Twitter, tumba, Uber, snap, Venmo, to
- 29:08Speaker 6: name a few, So it's not luck. So you obviously
- 29:11Speaker 6: have an eye for talent more so I mean a
- 29:13Speaker 6: gut feeling. Yeah, but do you have anything that you like?
- 29:17Speaker 6: A checklist where you look for.
- 29:19Speaker 8: One two things, my conviction of what's going on in life,
- 29:25Speaker 8: and then the person.
- 29:27Speaker 7: So I call it the jockey and the horse. I
- 29:29Speaker 7: got to pick the horse. Let me give you one.
- 29:31Speaker 8: Right now for everybody. I'm going to make some people
- 29:33Speaker 8: some money today.
- 29:35Speaker 7: NFT.
- 29:37Speaker 8: NFT stands for non fungible tokens crypto art, right, so
- 29:44Speaker 8: on top of a theory, so this is coming. I
- 29:48Speaker 8: believe in it. There's gold be a lot of money lost,
- 29:50Speaker 8: so don't go crazy. Everyone who's listening, spend one hundred hours.
- 29:55Speaker 8: Let me say it slowly so it sinks in everyone's head.
- 29:57Speaker 8: One hundred hours, one hundred hours of education. Then maybe
- 30:04Speaker 8: you go buy a piece of crypto art. But I
- 30:07Speaker 8: now believe in NFT. I really believe in it. Now
- 30:12Speaker 8: I got to go find people that I believe in
- 30:13Speaker 8: that cold ride that horse. So I make a decision
- 30:16Speaker 8: on the horse. But then I got to believe in
- 30:18Speaker 8: the jockey. I lost a lot of money my first
- 30:21Speaker 8: round two thousand and seven, eight nine, ten, eleven, twelve
- 30:24Speaker 8: because I was right about the concept, but I was
- 30:27Speaker 8: wrong about the person's stomach who was running it.
- 30:30Speaker 7: She or he couldn't take a punch, you understand.
- 30:33Speaker 8: Yeah, That's what I'm looking for now, Who can take
- 30:36Speaker 8: a punch. That's what entrepreneurship is. Entrepreneurship is UFC, Entrepreneurship
- 30:42Speaker 8: is boxing. Who can take a punch. So I'm right
- 30:46Speaker 8: about a lot of stuff. To your point, I've got
- 30:48Speaker 8: a great career on that. But now what I'm spending
- 30:51Speaker 8: more time on.
- 30:51Speaker 7: Is can she do it? Is he about that life?
- 30:55Speaker 8: And I'm trying to spend more time on that, and
- 30:58Speaker 8: I think I've done better lately.
- 31:00Speaker 3: Yeah.
- 31:00Speaker 5: So so, I mean I've watched the videos, man, and
- 31:03Speaker 5: like you said, there are receipts, So creating and finding
- 31:06Speaker 5: global trends is of your thing. I watched it when
- 31:08Speaker 5: you said that Facebook is going to be sold to
- 31:10Speaker 5: i G in twenty eleven. I saw when you say Facebook,
- 31:14Speaker 5: So yeah, and then and then the Joe Rogan and
- 31:17Speaker 5: Spotify and so is n f T the next thing
- 31:19Speaker 5: or is this something you know that was crazy? It
- 31:22Speaker 5: is this else.
- 31:24Speaker 8: NFT is gonna happen, uh something else. I'm about audio.
- 31:28Speaker 8: I would talk about that a lot. Now you see
- 31:29Speaker 8: club I'm getting a lot of again because of Clubhouse.
- 31:33Speaker 7: I was about audio. I was kept yelling audio, audio, audio.
- 31:40Speaker 8: Premium sports cars, lebron Kobe Jordan, you know n f
- 31:46Speaker 8: T n FT.
- 31:47Speaker 7: I feel really solidified on that's great.
- 31:51Speaker 5: We just who you have that conversation we had We
- 31:53Speaker 5: had the digital so somebody text us, one of our
- 31:55Speaker 5: Patreon members texting us about text me about the digital
- 31:58Speaker 5: art in that that space. And then we had when
- 31:59Speaker 5: I keys, oh yeah, she said the same thing.
- 32:02Speaker 6: Yeah, he was explaining he was in Miami. We said
- 32:03Speaker 6: that with a good friend of ours, and he was
- 32:05Speaker 6: explaining us to us about crypto and digital art and
- 32:09Speaker 6: I didn't really understand it.
- 32:10Speaker 3: And he took like a half an hour, and he
- 32:11Speaker 3: was like, if you have.
- 32:12Speaker 6: Like an art showing and it's like that the artist
- 32:16Speaker 6: like leases out the image for just that virtual war.
- 32:19Speaker 3: Yeah, it was a whole thing.
- 32:20Speaker 6: And that's the first time and it's crazy that you
- 32:22Speaker 6: mentioned that, because that's the first time I ever heard
- 32:24Speaker 6: of it last week, and now you're bringing it up again.
- 32:26Speaker 7: Let me bring up something else that's gonna make it work.
- 32:30Speaker 8: The other thing I was going to answer you on
- 32:32Speaker 8: in combination with crypto art, like call it an NFT
- 32:35Speaker 8: non funcible token to like digital art, crypto art.
- 32:39Speaker 7: Is vr M.
- 32:42Speaker 8: So look, we're basically in VR now. Think about what everybody,
- 32:47Speaker 8: take a step back. I'm gonna make it real common sense.
- 32:50Speaker 8: How much time are you in your phone? Think about
- 32:55Speaker 8: how many minutes a day you're looking at your phone.
- 32:59Speaker 8: There be a rhinoceros behind you. You have no.
- 33:01Speaker 3: Idea, So.
- 33:06Speaker 8: The jump step to oculus right. AKA, I'm predicting in
- 33:13Speaker 8: ten fifteen years you're not gonna need some big ass
- 33:15Speaker 8: thing on your eyes.
- 33:16Speaker 7: You're gonna be contact lensed and in.
- 33:20Speaker 8: If we live in a virtual world six hours a day,
- 33:22Speaker 8: which I predict will happen to everybody who's listening here.
- 33:26Speaker 7: Now, I think that's ten fifteen, twenty, but I'm patient.
- 33:32Speaker 7: If we live.
- 33:32Speaker 8: Virtually you have to understand why blockchain crypto NFTs matter
- 33:38Speaker 8: because you can prove that you own it. It's on
- 33:42Speaker 8: the blockchain, it's on the leisure so you're the only
- 33:45Speaker 8: one with it. Now imagine if you're the only one
- 33:49Speaker 8: in it. If you imagine blockchain integration to VR, when
- 33:52Speaker 8: somebody's coming to your pad and you're.
- 33:55Speaker 7: Like living it, like.
- 33:56Speaker 8: It's gonna feel like we're living And the same reason
- 33:59Speaker 8: people flex, are you see where this is going? Yeah?
- 34:02Speaker 5: Yeah, can we go back to the collectible cards? Because
- 34:07Speaker 5: I know that. I mean, that's your origin, so this
- 34:08Speaker 5: must feel like surreal, Like yo, this is coming back.
- 34:11Speaker 8: The biggest reason, the biggest reason so many of my friends,
- 34:14Speaker 8: my brother, my best friends didn't believe me three years
- 34:16Speaker 8: ago is I think they thought I was thinking with
- 34:18Speaker 8: my heart.
- 34:21Speaker 7: Got it?
- 34:21Speaker 5: Because yeah, because I mean that was that was the beginning.
- 34:24Speaker 7: I was like when I was like, why is nobody
- 34:25Speaker 7: believe in me? Three years ago? When I was like, yo,
- 34:27Speaker 7: I got receipts now listen to me, And I was like,
- 34:29Speaker 7: oh shit. The people that believed in me the most,
- 34:32Speaker 7: that love me the most, that know me the most,
- 34:34Speaker 7: they think I'm in love right, because you're right, it
- 34:38Speaker 7: is my first love.
- 34:39Speaker 8: That's like cards is in nineteen eighty seven to nineteen
- 34:42Speaker 8: ninety three, that's when I became Gary Vee. Like what
- 34:45Speaker 8: I am built on today is those six years of
- 34:47Speaker 8: doing sports card shows, being with grown ass men and winning.
- 34:54Speaker 7: As a child.
- 34:56Speaker 5: Yeah, I remember that. I'm gonna let you go, but
- 34:59Speaker 5: I remember being that from like ninety one, I was
- 35:01Speaker 5: collecting baseball cards and basketball cards and Marvel cards, and
- 35:05Speaker 5: I was like, I gotta say these. I think the
- 35:06Speaker 5: most valuable one I could think we had was a
- 35:08Speaker 5: Ken Griffey Junior rookie card. And I'm like, I'm holding
- 35:10Speaker 5: this forever.
- 35:11Speaker 7: Damn, he's gonna.
- 35:13Speaker 5: I still have it. It's like worth like I think
- 35:15Speaker 5: it's Mint nine or something like that. It might be
- 35:17Speaker 5: worth like six seven hundred dollars, but I'm like, I'm
- 35:19Speaker 5: keeping this forever.
- 35:20Speaker 6: So what's the deal with this new virtual wave that
- 35:22Speaker 6: you're speaking of? With that, I'm not familiar with this
- 35:24Speaker 6: whole situation. So what is this virtual cards?
- 35:27Speaker 5: No, like the trading cards, like baseball cards.
- 35:29Speaker 3: I know, but like it is like a new age
- 35:30Speaker 3: of that. There is something.
- 35:32Speaker 8: There is two things brewing. There's NBA top Shop. I
- 35:35Speaker 8: don't know if you've seen that, but that's.
- 35:36Speaker 5: Oh I think I did. Yeah. Yeah, they're like the holograms.
- 35:39Speaker 8: That's well, they're like highlights highlights, Yeah, on the blockchain.
- 35:43Speaker 8: So that's we're talking a little bit now with NFT
- 35:46Speaker 8: the ship we were talking about earlier and be a
- 35:48Speaker 8: top shops huge and there is a soccer one proper
- 35:51Speaker 8: football coach. So Rare built on top of ethereum okay,
- 35:55Speaker 8: And that's the word people starting to hear now, right,
- 35:57Speaker 8: because that's different than bitcoin. But the other thing that
- 36:00Speaker 8: has heat because it's a platform that people build on
- 36:02Speaker 8: top of, like so Rare. So yeah, there's a little
- 36:07Speaker 8: bit of that ruin. But yeah, the sports card thing
- 36:09Speaker 8: three years ago, I saw it. I'm like, this is next,
- 36:12Speaker 8: this is next. And you know again, like I said earlier,
- 36:17Speaker 8: Charlie Demillio, sports Cards, Uber, Gunna, little Keyed, you know, Snapchat,
- 36:25Speaker 8: like it's all the same game for me, What do
- 36:27Speaker 8: I see that nobody else sees as easily as I
- 36:30Speaker 8: see it? Am I tricking my I always ask myself, there,
- 36:33Speaker 8: am I tricking myself? So I double check a triple check,
- 36:36Speaker 8: a quadruple check, and.
- 36:37Speaker 7: The receipts are there. The YouTube videos of me and
- 36:39Speaker 7: Charlie Demilio.
- 36:40Speaker 8: Before she went there, the videos of me and Keyed
- 36:43Speaker 8: and Gunna there, they're there.
- 36:47Speaker 6: So your social media acumen is highly respecting one of
- 36:51Speaker 6: the best to have a do in social media. So
- 36:53Speaker 6: talking about the next phase where we at next, obviously
- 36:56Speaker 6: Clubhouse TikTok.
- 36:57Speaker 3: How do you feel?
- 36:58Speaker 6: Like do you feel because I think face just an
- 37:00Speaker 6: noow something that they're going to do something similar to
- 37:02Speaker 6: what Clubhouse has going.
- 37:04Speaker 3: Is it here to stay or is it the next vine?
- 37:06Speaker 8: It's it's Snapchat. Let me explain, Clubhouse is Snapchat. Snapchat's
- 37:12Speaker 8: still here. Remember one's like I remember when it's like
- 37:14Speaker 8: it's dead. I'm like, it's not dead. It got dented.
- 37:16Speaker 8: Instagram gave it a punch. You know, it's a good Now.
- 37:19Speaker 8: It might have lost it might have it definitely fell down.
- 37:22Speaker 9: It got standing eight, yeah, at least the standing eight
- 37:25Speaker 9: and probably lost that fight for a minute, but it's
- 37:28Speaker 9: come back to you know, the rematch always matters, right,
- 37:31Speaker 9: And Snap is doing quite well.
- 37:33Speaker 7: They're building a really nice company.
- 37:35Speaker 8: But Instagram took off even more because of it, So
- 37:39Speaker 8: stories became a.
- 37:41Speaker 7: Format not just an app. Got it.
- 37:45Speaker 8: So now you have Snap doing well, but every platform Twitter, LinkedIn, YouTube, Facebook,
- 37:51Speaker 8: Instagram has stories. I think the same thing's gonna happen
- 37:54Speaker 8: with Clubhouse. Clubhouse is going to continue to innovate and
- 37:57Speaker 8: do its thing. But I believe that every single platform, Facebook, Instagram,
- 38:03Speaker 8: LinkedIn Twitter are all going to have clubhouse like dynamics
- 38:08Speaker 8: in it, and it's going to be a feature in
- 38:11Speaker 8: the biggest platforms in the world.
- 38:13Speaker 5: So can a clubhouse survive? Because we saw this with
- 38:16Speaker 5: Vine when they had the eight second clip and then
- 38:18Speaker 5: Instagram took it.
- 38:19Speaker 8: No, that's just you know, that's where people get their
- 38:21Speaker 8: history wrong. Vine won Let me explain, Vine sold their
- 38:25Speaker 8: company to Twitter. Vine died because the guys left. Vine
- 38:30Speaker 8: didn't have to die. Vine took the bag. Let's when
- 38:36Speaker 8: no Snap of course again, look at Snap. Snap's just
- 38:40Speaker 8: fine at all time highs on its stocky.
- 38:43Speaker 3: I was just about to say stock is going well.
- 38:46Speaker 8: Yeah, so yes, man, of course clubhouse can now. Snap
- 38:51Speaker 8: was probably further along when that feature happened on Instagram.
- 38:55Speaker 8: So a clubhouse has to worry about is if all
- 38:59Speaker 8: these companies come adam from all different directions, can they
- 39:02Speaker 8: continue to grow or will people do what happened?
- 39:05Speaker 7: You know, I'm sure you remember this.
- 39:06Speaker 8: When Instagram did that thing, Everyone's like, oh good, I
- 39:10Speaker 8: don't have to be on Snapchat because they're in secure
- 39:11Speaker 8: because they only had a thousand followers, they didn't had
- 39:13Speaker 8: a million over here, like everyone's on their insecure shit.
- 39:15Speaker 8: But I would staying on both because attention is attention.
- 39:18Speaker 8: So what you know right now people are insecure. They're
- 39:20Speaker 8: not even in clubhouse. They don't have an invite. So
- 39:23Speaker 8: when Twitter pops it up or Instagram pops it up,
- 39:25Speaker 8: they're like, yeah, you know what I mean, I don't
- 39:27Speaker 8: have to go there. I'm not behind. So that's what
- 39:31Speaker 8: That's what clubhouse has to worry about. What about TikTok,
- 39:35Speaker 8: You know, TikTok is a beast, TikTok has it's just
- 39:40Speaker 8: on fire. I think people are completely confused what's going on.
- 39:42Speaker 8: If you're under twenty five, it's TikTok, Comma.
- 39:45Speaker 7: Instagram and it's not even close. TikTok will be interesting.
- 39:51Speaker 8: They're so about their world, their algorithm finding creativity. If
- 39:57Speaker 8: you ask me which platforms most likely to do audio
- 40:02Speaker 8: like that, I would say it's TikTok and Snap. I
- 40:05Speaker 8: don't see a shot that LinkedIn YouTube and Facebook and
- 40:09Speaker 8: Instagram don't do it.
- 40:11Speaker 7: Twitter's already done it.
- 40:14Speaker 6: Yeah, it's interesting because it's like for entrepreneurs, you get
- 40:18Speaker 6: comfortable with one platform, and then another platform comes out
- 40:21Speaker 6: and it's like you're spinning in all different directions. So
- 40:23Speaker 6: what's your advice for people that may not have a
- 40:26Speaker 6: budget to hire, you know, a whole staff, and it's
- 40:28Speaker 6: like they just focus on one thing. They got Instagram
- 40:30Speaker 6: figured out, and now they kind of, like you said,
- 40:32Speaker 6: they built a nice following on Instagram and they feel
- 40:34Speaker 6: like they got to start at zero on TikTok or
- 40:36Speaker 6: zero on clubhouse multiple things.
- 40:39Speaker 7: One crying about it and could do shit.
- 40:43Speaker 8: It's the game, sorry, like you know, like you know,
- 40:48Speaker 8: like people had people had MTV and BT figured out
- 40:51Speaker 8: and Naster came along that fucked up their.
- 40:53Speaker 7: Game, right, Shit happens. Sorry.
- 40:56Speaker 8: If you're an entrepreneur, you're in the business of getting
- 40:59Speaker 8: punched in the face. Nobody owes you anything. So that's
- 41:04Speaker 8: number one, that's what I tell him. Number two, you
- 41:06Speaker 8: don't start at zero. If you've got a million followers
- 41:08Speaker 8: on Instagram, you post a little photo, I'm gonna be
- 41:11Speaker 8: on clubhouse APM, you know what I mean. So you're
- 41:15Speaker 8: not starting at zero. Your audience is moving with you.
- 41:18Speaker 8: I got half a million followers already on Clubhouse. I've
- 41:21Speaker 8: barely been on becuse I've been busy, you know what
- 41:22Speaker 8: I mean. You don't start at zero, your equity travels.
- 41:26Speaker 5: Yeah, can we tell Can I talk about one of
- 41:28Speaker 5: my favorite quotes, as you said, it was, it's the
- 41:30Speaker 5: empty the bucket, and it's true in relationships, and it
- 41:33Speaker 5: was like I was living that. I was like, it's
- 41:36Speaker 5: tough to be in a marriage where you you have
- 41:38Speaker 5: something on your mind that you you you fest it
- 41:40Speaker 5: because after a while the bucket overflows. But can you
- 41:43Speaker 5: talk about the points of that in business of empty
- 41:46Speaker 5: in the bucket.
- 41:47Speaker 8: It's life resentments of problem And for me, I can
- 41:51Speaker 8: deal with I can eat shit. I can fill that
- 41:53Speaker 8: bucket because I'm a big picture. I'm empathetic. But even
- 41:57Speaker 8: for me, it tips over. And for my dad he
- 41:59Speaker 8: was the reverse. Said to my dad, Dad, your buckets
- 42:01Speaker 8: the size of this cup. My buckets the size of
- 42:04Speaker 8: the ocean. That's where you and I are different. He
- 42:06Speaker 8: would get triggered quick, you know. And for me, I
- 42:09Speaker 8: would just eat shit, eat shit. It was even my leverage,
- 42:11Speaker 8: you know, I would like but like the reality is
- 42:14Speaker 8: candor matters.
- 42:15Speaker 7: Now, I like kind candor. If you're gonna tell somebody
- 42:17Speaker 7: the truth, deliber it with.
- 42:18Speaker 8: Some compassion, not like yo, you stink, you know what
- 42:21Speaker 8: I mean, like you know, like you got to think
- 42:23Speaker 8: that through. But yeah, you have to be careful of resentment.
- 42:26Speaker 8: You have to be careful of holding shit in because
- 42:29Speaker 8: it's not sustainable that shit's gonna come out either in
- 42:32Speaker 8: you doing bad behavior right, alcohols like people, humans need
- 42:37Speaker 8: escape from unhappiness, you know, And so you got to
- 42:41Speaker 8: get shit off your chest. And so I think a
- 42:42Speaker 8: lot about that, and I've historically not been great at it.
- 42:45Speaker 8: I've been lucky because my bucket's an ocean, but even
- 42:48Speaker 8: the ocean overflows at times, and those have not been
- 42:51Speaker 8: good events in my life. And I'm trying to stay
- 42:53Speaker 8: away from that, and so I'm trying to empty it
- 42:55Speaker 8: more often. I'm emptying it. Emptying the bucket means go
- 42:58Speaker 8: and have kind candor and talk shit out. Communication heals everything,
- 43:03Speaker 8: even the hard talks. And and and when you're most upset,
- 43:06Speaker 8: you have to be most compassionate to the other side,
- 43:09Speaker 8: not the other way around, because if you becoming hot, they're
- 43:11Speaker 8: going to react hot, and the next thing you know,
- 43:13Speaker 8: you come to blows, whether physically or verbally, and that's
- 43:16Speaker 8: never a good thing.
- 43:17Speaker 5: Becomes a tsunami exactly.
- 43:20Speaker 6: One last before we wrap underpriced attention. I know you're
- 43:23Speaker 6: a big one to obviously social media, but for entrepren
- 43:26Speaker 6: is that is that the only way to get underpriced
- 43:28Speaker 6: attention these days? Or are there other hacks that you know,
- 43:31Speaker 6: business owners, entrepreneurs, creatives can go about to get their
- 43:35Speaker 6: brand out there and the name out.
- 43:36Speaker 8: There that the internet is underpriced attention or doing like
- 43:39Speaker 8: a stunt, right, like if you like paint a street
- 43:43Speaker 8: or something, or like, you know, like you got to
- 43:44Speaker 8: do something like shocks the world in real life ral
- 43:47Speaker 8: go viral, go viral.
- 43:48Speaker 7: But that's hard, it's hard hard.
- 43:51Speaker 8: Whereas on the Internet, LinkedIn's organic reaches through the roof,
- 43:55Speaker 8: TikTok's organic. You could be nobody, quote unquote no audience,
- 43:59Speaker 8: make one talk the first one and go off. How
- 44:02Speaker 8: do you not take advantage of that?
- 44:04Speaker 7: Right? Clubhouse right now? How do you not go on?
- 44:06Speaker 8: If you're trying to build an audience, you should be
- 44:07Speaker 8: living on clubhouse people just looking for rooms and new
- 44:10Speaker 8: people to follow. So, yeah, the Internet and social networks
- 44:14Speaker 8: especially are the spot. But it's the content you put
- 44:19Speaker 8: into it that's contextual.
- 44:22Speaker 6: Yeah, it's all about content.
- 44:24Speaker 3: Content is king and its contin king. Gary. It's been
- 44:29Speaker 3: a pleasure, brother, This is you know what this is.
- 44:32Speaker 5: This has been long overdue. Two years ago we ran
- 44:34Speaker 5: into you at the case with Yeah, and we said, look,
- 44:37Speaker 5: you remember that.
- 44:38Speaker 7: I remember? Are you kidding me?
- 44:39Speaker 8: You know much pressure been feeling about this interview? It
- 44:42Speaker 8: was it was documenting your fan base is harassing me.
- 44:45Speaker 8: I feel guilty and shit because I fuck with you guys,
- 44:48Speaker 8: and I'm just trying to balance my life out of
- 44:50Speaker 8: your busiest ship and like and then you know, like
- 44:52Speaker 8: the way life actually works, you end up doing somebody
- 44:54Speaker 8: else's thing before like that I just met last week
- 44:56Speaker 8: and I still know in the back of my head
- 44:57Speaker 8: I got these two good looking dudes that I got
- 44:59Speaker 8: to do with this with and so like, I'm fucking
- 45:01Speaker 8: happy as shit.
- 45:02Speaker 3: We finally did Yeah, I'll put it on Instagram.
- 45:06Speaker 6: It was like ten thousand like tag them, Yeah.
- 45:10Speaker 7: We did this. Man. I'm cheering for you guys. Heavy.
- 45:12Speaker 8: It's been fun to watch from afar you continue to
- 45:14Speaker 8: build bricks over these last two years.
- 45:17Speaker 7: I cheer it for you. Heavy.
- 45:18Speaker 8: If I can ever get you somebody you can't get
- 45:19Speaker 8: tom A. I'm a DM away and uh and I
- 45:22Speaker 8: hope you have a great, great grade twenty twenty one.
- 45:25Speaker 6: I appreciate that broll and shout out to Charlamagne for
- 45:27Speaker 6: connecting the dots on you.
- 45:28Speaker 7: Yeah, yeah, shot the god put the final piece in the.
- 45:32Speaker 5: He's like, I had no problem get yeah, man, but yeah,
- 45:35Speaker 5: just you're a man. Your word then, And I'm so
- 45:38Speaker 5: happy that we got it done. And with neighbors on
- 45:40Speaker 5: the charts too, so it makes it makes perfect sense.
- 45:41Speaker 8: He said, I'm sure you guys are doing real work.
- 45:43Speaker 8: I'm really proud of that. That that little that little
- 45:46Speaker 8: humber brag you just put out.
- 45:47Speaker 7: It's real.
- 45:47Speaker 8: I'm proud of you guys. You're doing real work. It's
- 45:49Speaker 8: bricked by brick. Listen, I did Wine Library TV for
- 45:52Speaker 8: eighteen months. Nobody knew who the fuck I was. I
- 45:54Speaker 8: told you guys earlier in thirteen years, fifty thousand times
- 45:58Speaker 8: more people gonna know who I am. I'm just starting too.
- 46:00Speaker 8: We're all on our journey, and it's the journey. It's
- 46:03Speaker 8: the bricks, you know what I mean? Like, I swear
- 46:07Speaker 8: to God, you might not believe this. I don't know
- 46:09Speaker 8: my numbers, I don't know where I'm in the charts.
- 46:11Speaker 8: It's just, you know, like I'm just so tunneled back
- 46:14Speaker 8: to the horse and the jockey. You know those horses
- 46:16Speaker 8: they put the blinders on the sides, like I don't
- 46:19Speaker 8: know where I rank. I don't know where it is.
- 46:21Speaker 8: I don't you know. People trying to go me into
- 46:23Speaker 8: the shit all the time.
- 46:25Speaker 7: I'm just focused.
- 46:26Speaker 8: I'm in my cocoon, I'm in my silence, I'm in
- 46:29Speaker 8: my zone. I'm just putting in work in the dirty.
- 46:31Speaker 8: I'm not at the equinox. I'm in at a dirty
- 46:33Speaker 8: gym that smells like shit getting in my reps.
- 46:37Speaker 7: You know what I mean.
- 46:38Speaker 5: Yeah, that's it.
- 46:39Speaker 3: That's like that vibe.
- 46:43Speaker 5: Begetting caught in that. Like people are like, oh, you
- 46:45Speaker 5: guys are doing so great, and we're just like so
- 46:47Speaker 5: like looking ahead to what's coming, Like, yeah, we gotta
- 46:49Speaker 5: stay focused.
- 46:50Speaker 8: I tell my friends all the time, don't get fancy
- 46:52Speaker 8: until it's time to get fancy.
- 46:53Speaker 7: Whoever holds their breadth the longest wins that bars out here.
- 46:59Speaker 6: Baby, I appreciate you, brother, all right, bro.
- 47:05Speaker 5: Well.
- 47:06Speaker 3: Shout out to Gary V.
- 47:07Speaker 6: Man legendary content as always, good dude right there. Shout
- 47:11Speaker 6: out to Charlamagne and shouting Nicole Russell for for helping
- 47:13Speaker 6: out with that as well.
- 47:14Speaker 8: Man.
- 47:14Speaker 3: Yeah so housekeeping.
- 47:16Speaker 5: Items, yeah, Man, shout everybody on patreon dot com. You
- 47:18Speaker 5: know that it's our proud to paid program, our top
- 47:21Speaker 5: tier tier five. You have access to E y L University,
- 47:23Speaker 5: the number one school for anything business, finance and entrepreneurship.
- 47:28Speaker 8: Uh.
- 47:28Speaker 5: So, shout to all the earners that are part of that,
- 47:30Speaker 5: and shout everybody to supporting to merch and yeah, shout
- 47:33Speaker 5: out to everybody that has been patient with the merch
- 47:34Speaker 5: as well. I can't I don't want to ignore that
- 47:37Speaker 5: you have been extremely patient and understanding of the process,
- 47:40Speaker 5: and so everybody's gonna get that stuff. Uh, don't worry, earners,
- 47:43Speaker 5: We got y'all.
- 47:44Speaker 3: All right, guys, thank you for rocking with us for
- 47:45Speaker 3: see you next week. Peace.
- 47:47Speaker 2: Peace, my graduates from my school being forced back drops drop.
- 47:55Speaker 3: Mike, drop back drop.
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