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Why a Teenager’s First Business Should Probably Fail - EP029 · Freedom Flip

• 0:00
  $925,000 was roughly generated by these kids in 60 days.
• 0:05
  The top like 10 or 15 generated 400,000 of that.
• 0:08
  Our goal next year is to have kids generate $10 million in revenue.
• 0:11
  And I'm a failure.
• 0:12
  And you're a failure.
• 0:13
  We're all failures.
• 0:14
  And today, we're gonna flip it.
• 0:16
  We're gonna celebrate failures.
• 0:18
  Henry Ford, at 37 years old, he started Detroit Automotive Company in 1899.
• 0:23
  You haven't heard of it because by 1901 it was bankrupt.
• 0:26
  We ended up tracking the buses with software, it failed.
• 0:28
  But in that failure, we met a software engineer who became a partner and he helped us redevelop the whole thing and really improve the product.
• 0:35
  We were able to actually sell that business in 2019 to Ford Motor Company.
• 0:39
  Henry and Ford and I are connected as two failures.
• 0:42
  I was making what felt like F you money.
• 0:44
  It felt like I was that million dollars, like 30 grand cash profit feels like a millionaire in high school.
• 0:50
  It rewired my brain where you can't then come to me and say, OK, here, I'm going to give you 80 grand a year.
• 0:56
  You know, sit in your box, stay in your cage.
• 0:59
  It doesn't work.
• 0:59
  My belief is if you want to change the world, right, it's changing their brain to not have...
• 1:06
  Flipping with Peter and Pablo.
• 1:08
  I'm obsessed with the word flipping.
• 1:09
  Like it's the name of this book that I want to write.
• 1:12
  It's what I think about all the time.
• 1:13
  The only thing that it kind of makes me laugh, maybe it's a good thing, is to flip off in English.
• 1:18
  But like part of what we say is to flip people off.
• 1:23
  Like not intentionally in their own minds, right?
• 1:25
  When they hear this flip of things.
• 1:27
  If you think about the flipping podcast, what is that?
• 1:31
  I would immediately think it's turning to new because flipping a coin is more common than flip off.
• 1:37
  Hey, soccer, let's flip a coin.
• 1:40
  Hey, let's flip a coin heads or tail.
• 1:42
  That is the most common ingrained for a native English speaker is to flip the coin, to flip.
• 1:46
  That's the ingrained one.
• 1:47
  Flip off is like, I mean, are people really talking, like, we're not an angry world.
• 1:51
  Like, people aren't really like, oh, you know, flip him off.
• 1:53
  Now, I think of that because my dad would literally flip everyone off on the highway when he was driving.
• 1:58
  You cut me off.
• 1:59
  My sister thought, this is a true story, when she was like eight, she thought that was saying hello to someone.
• 2:06
  My dad, he should have been born in Argentina.
• 2:08
  He would be like, you know, he's just an angry driver.
• 2:12
  Somebody cuts him off, he'd pull up in front of him, he'd roll down the window, and you'd know that meant, and my mom would be stressed.
• 2:17
  She'd be like, don't do it, they might have a gun.
• 2:19
  And then, dude, truly, some hillbilly pulls out a gun and just shows it to my dad on the highway.
• 2:24
  And my dad, I don't remember how I was flipping somebody off after that.
• 2:27
  We were like 10 or 12.
• 2:31
  My triplet sister was like,
• 2:33
  Yeah, that's how you, I think she said, say hello to people.
• 2:36
  You know, like most would say.
• 2:39
  You really opened my mind, right?
• 2:41
  When you're like, shit.
• 2:43
  founder of a business organization we know when someone said he's a mentor or he's a, you know.
• 2:48
  Jesus Christ.
• 2:49
  We don't need to go into it right now.
• 2:51
  I probably think this person is a better human.
• 2:54
  I think they just have blinders on a few areas where they think they're like walk on water and are this wonderful person, but I don't agree, right?
• 3:02
  I did get to hear their personal story and I was impressed with the level of openness and honesty of like, for example, saying my kids are on,
• 3:12
  you know, they're all on antidepressants.
• 3:13
  It's like, okay.
• 3:15
  I hear that as a parent.
• 3:16
  I'm like, okay, you failed.
• 3:17
  Like, you failed to get them in a place where they are comfortable with themselves, the world, discomfort.
• 3:23
  And now they have to use supplement, right, to numb their entire existence.
• 3:29
  Okay, you failed.
• 3:30
  But him communicating that, I was really impressed with, truly.
• 3:34
  Like, that was like, okay, wow, this is a human who...
• 3:37
  is the other thing is I'm reading an amazing book that I won't tell you who I'll tell you about it later but the spiral do you know the spiral the tiger it looks so dumb that the logo the logo of going up that's spiritual consciousness increasing and if you think about flipping right to me the whole world's focus on the mountaintop
• 3:58
  Okay, if I can just get a million dollars, I'm on the mountain.
• 4:01
  If I can just date that really beautiful girl, I'm on top of the mountain.
• 4:04
  The problem is when you get to the top of the mountain, you're there for a moment.
• 4:07
  I got to Everest, cool view, gone, it's over.
• 4:11
  If you flip the mountain, right, that's consciousness, the spiral that starts with our tiny little view of the world is like this big, my little view.
• 4:20
  And you're widening through failure and suffering the wider spiral.
• 4:24
  It's a flipped mountain, right?
• 4:26
  Right.
• 4:26
  So then we're in a state of constant calm and peace as we've risen in consciousness.
• 4:32
  So I think tying that back, I just, I see, I try not to judge people, right?
• 4:37
  In certain areas, this person is the opposite of a role model.
• 4:40
  In certain areas, I'm like, wow, there's not many people that I think will share that.
• 4:44
  would share my kids are on SSRIs, things like that.
• 4:47
  But coming back, I was so impressed with your response to say, I look up to people who are, you know, businesses down here.
• 4:55
  Like, dude, my bookshelf behind me, it literally, the bottom one is business.
• 4:59
  The next shelf says body.
• 5:01
  The shelf above that says, what is it?
• 5:04
  It's like mind.
• 5:05
  The next one is fiction and future.
• 5:07
  And the top one is soul.
• 5:09
  And that's what the books are about.
• 5:10
  So the top ones are my soul.
• 5:12
  consciousness.
• 5:13
  And it's in that order.
• 5:15
  I did this on my own.
• 5:15
  I just was going through and I was like, I think it was during COVID.
• 5:18
  I was like, I want to organize these chaotic books because I want to offer them people or recommend when they're at the house.
• 5:22
  And I needed an easier way to organize them.
• 5:24
  And I just put four piles and I realized these are the piles.
• 5:28
  I thought, okay, what matters?
• 5:29
  And it matched your kind of view of life of the stack.
• 5:33
  Like we think technology stacks, right?
• 5:35
  Maybe not me because you don't believe in my technology abilities, but the stack is what
• 5:42
  And helping others, helping our own soul is like the top thing for me.
• 5:47
  So where do you spend most of your time from a percentage wise?
• 5:51
  And you have professional and or investing was the highest, almost 37%.
• 5:57
  And then you have relationships, family and friends around 28%.
• 6:00
  Then you have travel, leisure, hobbies, golf, reading, fishing, whatever.
• 6:07
  Yeah.
• 6:07
  That is at 18%.
• 6:09
  Then you have health and fitness below that, which is 14% more or less.
• 6:14
  And then you have others at around 5%.
• 6:16
  Now, I also think that just the way that the question is framed, it's wrong.
• 6:22
  Because one thing is what is the percentage of time that you allocate, but also another way of saying it is like, what is your number one priority?
• 6:30
  Or what is your percentage?
• 6:31
  What is the proper organization of this from a priority point of view?
• 6:35
  Well, but if you do, let's just take about health, right?
• 6:38
  Well, I agree with you.
• 6:39
  It would have been better to say priority.
• 6:41
  I think that both things are important.
• 6:44
  One is your wish.
• 6:45
  One is the fact, check the receipts.
• 6:47
  Where's your time being spent?
• 6:49
  No, no, because if I say, well, my priority is my health and I spend one hour and a half every day on my health, which I think that is more than enough what you need, right?
• 6:59
  If you're including physical fitness as part of health, probably.
• 7:03
  Like, yeah, that should be fine.
• 7:05
  If you go to exercise, if you go for a walk, if you go consciously to take care of your health, one hour and a half a day is...
• 7:12
  It kind of depends how you're including things.
• 7:13
  Like, would that include a meditation or whatever, some kind of mindfulness...
• 7:18
  Yeah, you're probably right.
• 7:19
  An hour and a half is...
• 7:20
  But then you spend, it's normal that it's possible that you are spending a little bit more than one hour in your hobbies, especially if you are retired.
• 7:30
  So in that sense, I don't see it super wrong.
• 7:33
  What I was pushing, which to me made no sense, is the professional and or investing.
• 7:40
  First of all,
• 7:41
  I would separate these two because these are two different things.
• 7:45
  One thing is to say, I have a business.
• 7:47
  I love what I'm doing.
• 7:48
  Yes, I am operating my business, even if I don't love it.
• 7:51
  Okay.
• 7:52
  And then the other one is how much money I spend investing.
• 7:55
  And I, of course, we're talking with a subgroup of these people.
• 7:58
  And in this group, no, but almost everyone, it's already exited their business or the day-to-day of the business.
• 8:05
  So for most of us,
• 8:07
  or they could.
• 8:08
  But for most of us, the amount of time that we spend in the business is almost zero.
• 8:12
  And then you have the investing part, which is that that's the part that I push against because I think that many people, they already crossed this finish line of wealth.
• 8:22
  They already reached the $10 million, $20 million, $50 million, whatever it's in their mind.
• 8:27
  They already have, let's call it money, which is an interesting topic that we could discuss at some point.
• 8:33
  But somehow they're just putting so much time in investing.
• 8:37
  I would say I think that makes sense to do that when you have no idea what you are doing and you need to learn about it.
• 8:43
  That's fair.
• 8:44
  When you are understanding about yourself to find out what kind of investor am I?
• 8:48
  I have this money.
• 8:49
  I need to allocate this money somewhere, somehow, whatever that is.
• 8:53
  Gold, berry, your backyard, bonds, stock, cash, VC, P, real estate, whatever combination,
• 9:04
  You need to go through, in my opinion, you need to go through the process of knowing yourself to invest accordingly.
• 9:08
  But then that's it, dude.
• 9:10
  Why are you playing the game of being like a professional investor?
• 9:12
  What are you doing?
• 9:13
  And I think that that's where I see most of the people in this group staying there.
• 9:17
  They got stuck.
• 9:19
  Do you feel something similar?
• 9:20
  I do.
• 9:21
  I mean, one, you've been a good source to shine light on this for me.
• 9:24
  And I think it's actually a good conversation to go into today.
• 9:28
  Me as an example, like I step into the hospital with Dr. Pablo.
• 9:31
  Yeah.
• 9:32
  There's two issues, right?
• 9:34
  If you look at it on a root level, like, okay, why did they get there?
• 9:37
  Have you read the book, Buy Back Your Time?
• 9:39
  No.
• 9:39
  Oh, it's a phenomenal book.
• 9:41
  And I was rereading it.
• 9:42
  He has Oprah Winfrey.
• 9:44
  Do you know who that is?
• 9:45
  The old, the popular news woman.
• 9:46
  Or she had her own show.
• 9:48
  She lives in Montecito, California now.
• 9:49
  He went through her day, her normal schedule.
• 9:51
  And it was like, wake up, meditation, exercise, you know, makes her favorite cappuccino, coffee, breakfast.
• 9:58
  I think she reads for an hour.
• 9:59
  Then it's like she meets either a friend or her partner, husband, Guy Stedman for lunch.
• 10:05
  Then she does something else.
• 10:07
  And I love this because it actually aligns with the least cognitive ability we have.
• 10:11
  Most people, 70% of people, they crash after lunch.
• 10:14
  If you look at their cognitive ability and just the cycle of everything's a cycle, right?
• 10:18
  So you come up really high in the morning, you peak just before lunch, then you crash, and then you have a second little rebound kind of in the late afternoon.
• 10:27
  She picks the lowest cognitive ability and gives two hours investments and or running the business.
• 10:33
  She has like Oprah magazine or something.
• 10:35
  That's it.
• 10:36
  It's 1.30 to 3.30.
• 10:37
  That's it every day.
• 10:38
  I saw that.
• 10:38
  I was like, man, yeah, that's me.
• 10:40
  Like, that's what I want, and that's what I try to do.
• 10:43
  And most people hear that and assume I'm retired.
• 10:45
  And I don't love the word retired, right?
• 10:47
  I think it just sounds like kind of a lazy term or like you've stepped out in a negative way, where I think I'm stepping into in a positive way, right, the things who I want to be with, where, what I want to be doing, when I want to be doing it.
• 11:01
  Like that's what I'm stepping into is this engaging full self, which is like probably two hours of kind of mentally stimulating work related stimulation, a work or investment.
• 11:12
  You know, for me, I'm actually including the nonprofit that we're starting as part of the work.
• 11:15
  That's where I spend most of my time right now.
• 11:17
  And I'm having a blast with that.
• 11:18
  Now, I think, why do people get stuck there?
• 11:20
  That's the deep question.
• 11:21
  Nine out of 10 of them had some trauma.
• 11:23
  Their parents were poor.
• 11:24
  They grew up with nothing, something.
• 11:26
  And it's easier to continue trying to fight that fear, right?
• 11:31
  And this comes to consciousness.
• 11:32
  They got them to the top of this mountaintop with money.
• 11:36
  And then they looked around at that mountaintop and they saw their buddies in this mountain and their other buddies on Mount Everest over there.
• 11:42
  And their fear is, well, I could lose everything.
• 11:44
  I need to keep going.
• 11:46
  I need to compare myself to others.
• 11:47
  It's like these external things are driving them.
• 11:51
  And rather than go into that deep, dark cave or come in on the hospital to kind of carve that part of the brain out, upgrade and then upgrade it with some new software.
• 11:58
  It's easier to continue in that same frequency.
• 12:02
  And I even look at myself.
• 12:03
  I say all this because I went through it.
• 12:05
  And one thing I'm working on right now is, you know, for context for everybody, I came, Pablo and I met, had a great time.
• 12:11
  He invited me to his 40th birthday.
• 12:13
  Didn't realize that I'm crazy and show up on birthday parties across continental travel.
• 12:18
  Yeah.
• 12:18
  I was like, well, I'm coming.
• 12:19
  So I come.
• 12:20
  And we have like a three-hour discussion.
• 12:22
  At the time, you know, I considered myself, I do think I'm a good investor.
• 12:25
  I think I was okay at the time because this fear layer had me a bit.
• 12:30
  But I was still contrarian.
• 12:31
  I would flip things and I would be comfortable going against the herd.
• 12:35
  I had doubled my money on Google, and he's like, why do you have Google?
• 12:37
  And I was like, well, maybe the driverless will work, and AI, they're going to have all the data from my email, and blah, blah, blah, blah, blah.
• 12:44
  And I think when you flipped it to say, no, don't focus on today, what are you going to focus on in 10 years?
• 12:50
  In 10 years, what do you really want to have?
• 12:51
  And I was already all in with Bitcoin since 2012.
• 12:53
  Not
• 12:55
  as deep, right?
• 12:55
  I think at the time it was probably 20, 30% of my portfolio.
• 12:58
  And after stepping into Pablo's hospital, Dr. Pablo performed surgery.
• 13:02
  It was painful, no anesthesia, removed part of my brain, got rid of that software.
• 13:07
  We put in new software and I went home and basically within a month or two sold everything.
• 13:12
  except the Bitcoin, I increased allocation of 50%.
• 13:15
  And I went somewhere around 50% on Google.
• 13:17
  And maybe I had 10% on other stuff, like Netflix, I had a big bet going against the market.
• 13:21
  That is what I'm so impressed and I'm so happy has made me, I think now a top 1% investor because I'm flipping it to the future, not to the past.
• 13:30
  I still, you know, basically my portfolios, I've done really well with a couple of those random ones, like Netflix is up 4X since the bottom when they started doing their password crackdown.
• 13:40
  I'm ready to sell out of Netflix.
• 13:41
  Microsoft owns, you know, basically owns OpenAI, right?
• 13:45
  All of the infrastructure, all the parts, right?
• 13:47
  They're all around and everything else.
• 13:49
  I think I'm up 100% on Microsoft.
• 13:50
  I'm not saying these to brag.
• 13:51
  It's like, it's actually, I'm trying to flip it.
• 13:53
  And I'm thinking like, wait, should I be holding these versus at low price to earnings ratios?
• 13:58
  And I only hold like five investments, not big, right?
• 14:01
  It's Bitcoin Micro Strategies, Microsoft Netflix, Eli Lilly with their DLP1.
• 14:05
  I got in earlier.
• 14:06
  I'm ready to sell that.
• 14:07
  And a tiny bit of Costco, ready to sell that.
• 14:09
  But like when I'm coming down to maybe two, you know, the timing, and this is I'm happy to step in the hospital and get Dr. Pablo to dig in.
• 14:18
  The only thing holding me back right now, really the only thing is Elon on, I think, two occasions in the last two months said, we're going to have some really rough quarters ahead.
• 14:28
  He said, we are likely to have really rough quarters ahead.
• 14:30
  I consume every piece of content from him.
• 14:32
  I consume every piece of information.
• 14:34
  And I know I'll have probably 50% of my personal wealth in Tesla, but the other people do this wrong.
• 14:41
  And I'm admitting I'm struggling with this right now as we try and be weathermen.
• 14:44
  We try and say, is it stormy or cloudy?
• 14:47
  What's the weather today, tomorrow?
• 14:49
  And, you know, I'm feeling this like, okay, the software is creeping in.
• 14:52
  I'm trying to cut it out.
• 14:54
  trying to replace because i think this is the deep deep question it's like why are we trying to believe that i know more than the likely outcome the really most likely outcome and the final comment i want you to to tear me apart and put me on the hospital bed the final thought is just like i know it's the one critique right that people have that's valid of of elon is he doesn't get his dates right right it's just the trains running on time the trains end up there right they make it to the station but the date
• 15:22
  Or the year is not often what the station master Elon says.
• 15:27
  Well, there is a little difference on that because he's not saying the train.
• 15:31
  He's saying this magical transportation machine that doesn't exist and you have no clue about this thing is going to happen on this date.
• 15:41
  And you're like, oh, it happened one year later.
• 15:44
  It's like, well, but it just happened, right?
• 15:46
  You're spot on, right?
• 15:46
  It's not a train.
• 15:47
  It's a flying train.
• 15:49
  It's a train that rockets and then gets landed that we've never seen before.
• 15:52
  Spot on.
• 15:53
  So there's no way, which is not why I don't consider it a critique of him.
• 15:57
  It's just this is a factual thing, right?
• 15:59
  From like his goal or projection.
• 16:01
  That is called opportunity.
• 16:03
  Correct.
• 16:04
  Because most people, their brain just breaks because they are so full of fear about everything.
• 16:10
  Right.
• 16:10
  Who knows why?
• 16:12
  Maybe because that's how we were educated growing up by the school system.
• 16:15
  Maybe, potentially, allegedly.
• 16:17
  I don't know.
• 16:18
  I don't know.
• 16:19
  We'll see.
• 16:20
  You haven't substituted taught yet.
• 16:22
  Come to my side.
• 16:23
  Go into the schools.
• 16:25
  Yes.
• 16:25
  Well, I think that, anyhow.
• 16:28
  So this is what I would say.
• 16:29
  Yes, Elon said...
• 16:31
  But let me just repeat what you mentioned to see if I understand.
• 16:35
  You have positions in several companies.
• 16:38
  It sounds that you are ready to get rid of those positions.
• 16:41
  We will get a little more in detail.
• 16:44
  And then you want to exchange those positions for what?
• 16:48
  If you can remove all the fear, for what would you exchange it?
• 16:52
  It will be Tesla.
• 16:54
  Roughly 50% of my personal net worth is already in Bitcoin or MicroStrategy, right?
• 16:59
  I like that.
• 17:00
  Let's say that that's 50% to 60% of my current liquid portfolio.
• 17:04
  I like that.
• 17:05
  I'm very happy with that.
• 17:06
  Other 50%, let's say it's, let's use round numbers.
• 17:10
  It's like five assets.
• 17:11
  It's like Tesla, Microsoft, Netflix, Eli Lilly, which is the GLP one, the fat drug, and I live in Indianapolis, right?
• 17:19
  Stop selling Eli Lilly, please.
• 17:21
  Buy Eli Lilly today, tomorrow.
• 17:22
  Okay.
• 17:25
  Like, Americans are only getting fatter.
• 17:26
  Such a proud Indiana boy trying to sell every time.
• 17:31
  I went to your house one time.
• 17:33
  I think that you mentioned Eli Lilly a trillion times.
• 17:36
  You're like, and by the way, 75 minutes this direction, that's the factory.
• 17:40
  I'm like, I don't give a fuck.
• 17:41
  What are we talking about?
• 17:42
  Yeah, it's wild what they could do.
• 17:44
  Okay, so let's call it like five.
• 17:46
  Yeah, Tesla, Netflix, MicroStrategy, Eli, and what else?
• 17:50
  Ford Motor Company or what?
• 17:51
  No, no, no.
• 17:52
  I have a tiny bit of Costco.
• 17:54
  For round numbers, say each of those is 10%, right?
• 17:57
  So I have, I will switch from that into Tesla.
• 18:02
  That's what I intend to do on my plan.
• 18:03
  My only thing is, like, I follow it closely, right?
• 18:06
  So I know because of political shifts, you know, we lose the credits on solar, we lose the credits on the cars, which was the majority of profitability.
• 18:15
  And my only thing, to your point about people being fearful—
• 18:19
  People who don't know the rocket ship, the amazing thing that is being built, they're going to see this go from – we've been profitable essentially for years now, right?
• 18:29
  And Tesla.
• 18:30
  They're going to see that switch back to major losses.
• 18:33
  Now, this is me being a weatherman.
• 18:35
  I admit that, right?
• 18:36
  And it's the software that I'm trying to both get out of permanently.
• 18:41
  And let it play.
• 18:42
  Like, I think those two are two flowers that I want to continue to water and I don't need to cut, prune, change.
• 18:48
  Once I get to this allocation, the fear, right, it's fear in my own brain.
• 18:53
  It's being a weatherman, is, well, all these normies, these sheeple, are going to see it go from profit, right?
• 19:01
  It's probably October is the next earnings call.
• 19:03
  They're going to see, like...
• 19:05
  The start as well as the expectations.
• 19:08
  They're going to hear Elon say, you know, we went from 50 cars on the road to 150, right?
• 19:13
  But we have a person in every single one.
• 19:14
  These are the only things I'm really fighting.
• 19:16
  The final one is in my Cybertruck, right?
• 19:19
  I love that they add the camera to the front.
• 19:21
  But I look at it realistically, like without the camera in the front using, I just don't, I don't think it's possible without that extra edge.
• 19:29
  Like to me, that's the equivalent of LIDAR or radar because it allows the car to see, like you don't have to be in the road.
• 19:36
  I mean, you saw it coming out of my neighborhood.
• 19:38
  I don't know.
• 19:38
  Do you have eyes in the front bumper when you drive?
• 19:43
  No, I don't.
• 19:44
  And that is- And how do you drive?
• 19:46
  Horribly.
• 19:47
  Horribly.
• 19:49
  I'm serious.
• 19:50
  I think that's why it's dangerous.
• 19:51
  You are missing a little bit the point.
• 19:53
  I know.
• 19:54
  But okay.
• 19:54
  But okay, wait a second.
• 19:55
  Let's just go back to see if you can frame this for your admission in the hospital.
• 20:00
  Okay.
• 20:01
  The frame doctor I have.
• 20:03
  Here's my problem.
• 20:03
  Dr. Pablo.
• 20:04
  Dr. Pablo.
• 20:06
  I will get to 50-50.
• 20:08
  I have this decision.
• 20:09
  Should I get there today?
• 20:11
  Just do it tomorrow.
• 20:13
  Fridays are the day I look at my investments.
• 20:14
  Only on Fridays.
• 20:15
  Should I do it tomorrow?
• 20:16
  That's one option.
• 20:17
  Second option is just arbitrary date of, say, January 1 of 2026.
• 20:23
  Because my guess is, like...
• 20:25
  The worst quarters will be behind.
• 20:27
  Those will all get priced in.
• 20:28
  All these normies will be so fearful that it's like things start coming down.
• 20:32
  Right?
• 20:33
  That's my weatherman guess.
• 20:35
  And based also off of the CEO and founder saying the next couple quarters are going to be terrible.
• 20:39
  And then probably the worst decision, I always kind of want three options.
• 20:42
  The worst decision would be, say, and the question is, do I just sell all the stocks now, sit in cash, knowing it's going to be deployed, just waiting for this moment?
• 20:49
  Kind of like Warren Buffett, right?
• 20:51
  Wants to sit on a fat stack of cash so he's feeling confident when he sees a deal.
• 20:55
  Right?
• 20:55
  So the deeper question is, and this is the real question, do I want to sit there, sell out of it, which I actually wouldn't have a big problem selling out of those just to have the cash and be like, okay, so should I sell out the cash, do it tomorrow, sell out of the 50% or 40% because 10 is already in Tesla?
• 21:11
  sell the 40% tomorrow and just get into test tomorrow pick an arbitrary date like january one that's a fork in the road right like my weatherman guests you know elon said it's gonna be a couple hard quarters let's say he's right january one which one of those that's the that's the question doctor welcome to the hospital
• 21:29
  You have been admitted.
• 21:30
  So let me just repeat to see if I understand.
• 21:33
  So you have 50% of your investable assets.
• 21:36
  You are very happy with it.
• 21:38
  The other 50% is, to simplify, these five companies, Tesla, Microsoft, Netflix, Eli, and Costco.
• 21:45
  And for simplicity, let's just say that it's divided equally in that 50%.
• 21:49
  So 10% each of your total investable assets.
• 21:52
  So what you are thinking is, well, eventually what I really want is to have all that in Tesla.
• 21:57
  Am I right?
• 21:58
  Then the question is, when and how do I get there?
• 22:01
  So you have the option of you get it done tomorrow at whatever the price is for selling and for buying.
• 22:08
  You set up an arbitrary day where you make that switch, you sell and you buy.
• 22:13
  So instead of tomorrow, it can be in three months or in six months or whenever you say.
• 22:17
  Or the other one is you sell everything now.
• 22:20
  I mean, of course, except Tesla.
• 22:22
  So you sell the other Microsoft, Netflix, Eli, and Costco, and you just wait for the right time to enter.
• 22:28
  Is that correct?
• 22:29
  Is that the problem?
• 22:30
  Okay.
• 22:30
  So in my opinion, the investment is, my investment philosophy is very simple, but very difficult to execute and to get to that point.
• 22:39
  The philosophy is know yourself and invest accordingly.
• 22:43
  So I think that Warren knows himself pretty well when it comes to investing.
• 22:49
  And that's why he's a very successful investor.
• 22:52
  In addition, that he outlived most investors in the planet.
• 22:56
  So time in the market means a lot.
• 22:59
  And he has been playing this game for a very long time.
• 23:02
  So that's why he's also very successful.
• 23:04
  Then the reason why I say know yourself is because how do you react?
• 23:10
  Okay, let me ask you the question, right?
• 23:11
  When you buy something and that something goes down 5% or 10% in the next days, how do you react to that?
• 23:19
  If it's a good asset, I don't care at all.
• 23:22
  Like a house that I plan to hold for 30 years, I don't care at all.
• 23:26
  Well, but let's not talk about house because that might be the place that you live.
• 23:29
  Yes, something like that.
• 23:30
  Bitcoin, I'm buying all day on the way to the bottom.
• 23:34
  Okay, good.
• 23:35
  That particular asset.
• 23:36
  Great.
• 23:36
  Okay.
• 23:37
  No, no, no.
• 23:37
  That's fine.
• 23:37
  So the bottom line is you wouldn't care.
• 23:40
  If you, if you, let's say, pull the trigger tomorrow and then Tesla goes, keeps going down or goes down 10% or 15%, you are, you say that you are going to be fine.
• 23:50
  10 or 15%, I'll be fine.
• 23:52
  I think let's be specific on Tesla.
• 23:54
  I do think I'd have, I don't know how much stress I'd have to watch it go from where, where is it?
• 24:00
  Actually, you don't have to tell me the number.
• 24:01
  If it drops by 150 points,
• 24:06
  let's say it drops by 40% over the next six months.
• 24:10
  That part, when like, I feel like that's coming.
• 24:13
  I may be wrong.
• 24:14
  It's just a weatherman.
• 24:15
  That is one that I'm saying as a know myself, whether it's the software creeping back in, whatever, that is creating anxiety, fear, doubt.
• 24:22
  Okay.
• 24:22
  So you think that a 40% down from right now, it's possible?
• 24:27
  Very likely.
• 24:28
  I mean, it's very volatile.
• 24:29
  And I don't, I wouldn't say very likely.
• 24:31
  I do see that as
• 24:33
  I think in the next year.
• 24:34
  Okay, what percentage would you assign a probability for the stock to go down 40% Tesla right now?
• 24:40
  Yeah, in the next year, I see it.
• 24:42
  I think it's very likely it's going to go down by 30%.
• 24:45
  What percentage likelihood?
• 24:47
  50% or more.
• 24:48
  Okay.
• 24:50
  So let's say in that case, sounds that option two and three is better, right?
• 24:55
  Because you're basically timing the market.
• 24:57
  You think that you have an edge that you are going to be able to
• 25:01
  sell shit at the right time and buy shit at the right time in order to capture this extra whatever 40 or 80 or whatever that is right yes which is bad okay
• 25:14
  I don't know.
• 25:15
  Maybe you are.
• 25:16
  You are an incredible timer.
• 25:19
  I'm not.
• 25:19
  And I think very few are.
• 25:21
  So, okay, wait a second.
• 25:22
  You said that you are not.
• 25:23
  So what makes you think that you are right now when you say that it's going to go down?
• 25:27
  It's likely more than 50%.
• 25:29
  That's very likely.
• 25:30
  The CEO's comment.
• 25:32
  Like the largest reason is honestly Elon's comment.
• 25:35
  So Elon said, we're going to go up for a couple of rocky quarters.
• 25:40
  He said, we're going to have some really rocky quarters.
• 25:43
  Did you also take in consideration all the positive comments that he did?
• 25:46
  Oh, yeah.
• 25:47
  I mean, I try and consume every single piece of news.
• 25:50
  No, I understand.
• 25:51
  I understand.
• 25:51
  But right now you are saying one comment that he said about rocky quarters.
• 25:55
  But what about all the other comments that he said?
• 25:57
  Yeah.
• 25:58
  The most positive one is his goal, which is just mind-boggling, to be 50% of Americans served by his hypertaxi this year.
• 26:06
  Robotaxi this year.
• 26:07
  Yes.
• 26:09
  Which is just so cool to hear.
• 26:11
  Like, do I think that's going to happen?
• 26:13
  Sub 50%.
• 26:13
  Way below 50%.
• 26:15
  So the other part that I always think is, well, I'm just going to say two things.
• 26:18
  One is usually when something is said, usually that thing tends to already get priced in before it happens.
• 26:26
  Not always, but just something to think about, right?
• 26:29
  If you see everyone talking about something, most likely that's already priced in.
• 26:34
  I think somewhat.
• 26:35
  I mean, I majored in finance.
• 26:37
  I don't think that exists at all with megatrends and with really volatile business.
• 26:41
  Because I think, like you said this earlier, right?
• 26:44
  For the downside, I think that it happens, right?
• 26:48
  Well, I think that it happens.
• 26:50
  So think about when Tesla went down...
• 26:53
  When Elon was buying Twitter, it just went down.
• 26:56
  It just crashed all the way down to $100 share at the end of 2022.
• 27:00
  He just bought the platform.
• 27:02
  That's all he did.
• 27:03
  The stock just crashed like crazy to December.
• 27:07
  That was $100.
• 27:08
  Everyone was freaking out.
• 27:09
  The stock very, very fast just went to $200.
• 27:12
  Now we are $350 or whatever it is.
• 27:14
  So let me just continue here with the treatment.
• 27:19
  The other question, I think that this is the easiest, in my opinion.
• 27:22
  How to know when to get rid of something, sell something, and to buy something else?
• 27:29
  It's not about today.
• 27:31
  It's not about the price of today.
• 27:32
  It's not about the price of yesterday or one year ago.
• 27:36
  And it's not even about the price that you think that is going to happen in six months or one year.
• 27:40
  It's just go as far away into the future as you feel that you have confidence to see that.
• 27:47
  and to predict.
• 27:48
  So some people feel very confident that there's going to be Optimus robots in every single, 100% guaranteed, and this is going to happen in the next 10 years.
• 27:57
  Cool.
• 27:58
  Some people say, I don't know, I'm not sure about the robots in 10 years, but for sure, Robotaxi.
• 28:03
  Great.
• 28:04
  So then the question is,
• 28:06
  How much do you think that the company is going to be worth?
• 28:08
  Forget about the price of the share.
• 28:10
  The price of the share is a reflection of how much a company is worth.
• 28:13
  So how much the company is going to be worth in five years, 10 years?
• 28:17
  And let's say that you say, well, it's going to be worth right now.
• 28:20
  It's at $1 trillion.
• 28:21
  It's going to be worth $5 trillion.
• 28:23
  So it's going to be worth $10 trillion, just to say something.
• 28:27
  Then it's like, great.
• 28:28
  So does it matter that you bought the stock when the company was worth $1 trillion or $900 billion or $1.12 trillion or $1.3 trillion if the final destination is $5 or $10 trillion?
• 28:43
  Yeah, even if it drops from one to half a billion in the next year.
• 28:47
  Like, it's, you're right.
• 28:51
  It's a beautiful question.
• 28:52
  And I think the way to clearly state what I'm trying to say is, I actually don't think I'm good at timing.
• 28:58
  I don't even claim to be.
• 29:00
  What I do think I'm good at is when everyone's running out going, fire, because he bought Twitter, because he said something.
• 29:08
  I think I'm in the top 1% of ignoring all of that and saying, bye, bye, bye, bye, bye.
• 29:13
  And what I mean is some crazy event, right?
• 29:16
  You know, somebody gets hurt because of a taxi and it goes plummeting.
• 29:20
  It will happen, yeah.
• 29:21
  It will happen.
• 29:22
  None of that will affect my confidence and willingness to just hit the buy button as big as possible.
• 29:27
  And I think what I'm saying is it's not that I believe I'm good at timing.
• 29:31
  I know this is a volatile stock.
• 29:33
  The CEO said we're going to have really rocky quarters.
• 29:35
  And it is a bit of a weatherman, right?
• 29:37
  I'm saying when it gets volatile, that's when...
• 29:41
  I have no fear.
• 29:42
  And all the normies, all the sheeple go running for the exits, right?
• 29:46
  Or the algorithms are selling because of bad news on Elon.
• 29:50
  That's just the point that I get excited about entering.
• 29:53
  Like, I entered when Netflix was literally down here.
• 29:56
  Like, it was just a falling knife.
• 29:59
  And I was like, well, this is going to totally turn around.
• 30:02
  I should be paying for Netflix.
• 30:03
  I'm not.
• 30:04
  Those are the decisions.
• 30:05
  That's the only reason.
• 30:06
  It's like being confident in that decision.
• 30:08
  That's the only thing I think.
• 30:09
  And I don't see it as much as a weatherman as much as saying I'm comfortable being countered to the crowd.
• 30:15
  That is not weatherman because you are taking a position on something that is happening right now.
• 30:21
  Weatherman is the CEO made a comment.
• 30:24
  And therefore, I'm just going to assume that the company valuation could go down by 40% and that there is more than 50% chances that this is going to occur.
• 30:34
  That is total weatherman timing the market.
• 30:38
  You could be right and you could be wrong.
• 30:41
  And then the question is, is it worth it?
• 30:43
  Yeah.
• 30:44
  Like if it just starts ripping.
• 30:47
  Well, there you go.
• 30:49
  Right.
• 30:49
  So now let's take that example.
• 30:51
  Then the company goes from one trillion to 1.1, 1.2, 1.3, 1.4.
• 30:55
  And then the question that I have for you is when do you pull the trigger?
• 31:00
  When do you say, oops, I was wrong.
• 31:02
  You know this.
• 31:03
  I mean, I sold a car company.
• 31:04
  I sold a software business to Ford.
• 31:06
  I almost put most of the proceeds in Tesla.
• 31:08
  Yeah.
• 31:09
  And then I watched it go from $25 billion to a trillion and kept saying, I missed it, right?
• 31:15
  And there's a great quote from this amazing investor 100 years ago.
• 31:18
  And he said, there's always another time to get on the train.
• 31:21
  And you broke me of that, right?
• 31:23
  You really allowed me to say, wait, wait, the train's still running.
• 31:26
  I can just jump on.
• 31:27
  But again, what is the best way to just get rid of that thought and...
• 31:33
  Imagine the opposite.
• 31:35
  The thing that you are thinking that is not allowing you to take action is forget about what happened in the past.
• 31:40
  Tell me what you can see in the future.
• 31:42
  Oh, you can see a $5 trillion company and you have really good arguments and you have solid information because you spend hundreds of hours understanding the business.
• 31:52
  Then you have to invest based on where the company is going to be based on what you are assuming rather than what happened in the past.
• 32:01
  Because that is gone.
• 32:02
  Yeah, that's spot on, man.
• 32:04
  And then you have to also think, is this how I want to spend my time?
• 32:08
  No.
• 32:08
  Do I want to spend my time just trying to time the market?
• 32:12
  I do want to spend my time researching Tesla and SpaceX and these other entities.
• 32:18
  Are you doing that because you're trying to time the market?
• 32:20
  No, because I love the, it's going to be the most powerful shift we've seen ever.
• 32:25
  You love it because you are learning.
• 32:27
  Part of your personal development.
• 32:29
  You're learning.
• 32:30
  Yes.
• 32:30
  Yeah.
• 32:30
  And I think it applies to your whole life.
• 32:32
  And what's funny, Pablo, to come back, Dr. Pablo, as you're doing surgery, you're flipping.
• 32:38
  Right?
• 32:38
  And this is part of what I was doing myself and you were double down on is we get focused on this downside.
• 32:43
  We don't think about the scenario it's going to 1.4, 1.5, 2 trillion.
• 32:50
  Right?
• 32:50
  We're not flipping it to thinking what's more painful.
• 32:52
  Now, humans, we have a bug.
• 32:54
  And there's these two amazing Nobel Prize winners that did analysis on this.
• 32:58
  We would rather, if you did a neutral statistic of chance to win 100,000 or lose 100,000, we will always opt to not lose the 100,000.
• 33:09
  Right.
• 33:09
  And that's a survival instinct we have as just animals.
• 33:12
  And I think it's uncovering that and realizing this bias by really digging into that.
• 33:17
  Well, what about when it goes up?
• 33:19
  What about when you tie your timing is off?
• 33:21
  Sydney, the ball back to you.
• 33:22
  What part did you say is do you not feel as a weatherman on the volatility or going when people when everyone's scared?
• 33:29
  That kind of stuff.
• 33:30
  Do you do you still feel that all as weatherman going in deep when everyone else is running out the door?
• 33:35
  Yeah.
• 33:35
  No, because weather...
• 33:37
  So that would be like what people call catching a falling knife.
• 33:42
  or I would say just picking up gold that is on the floor.
• 33:45
  That people threw in the trash.
• 33:47
  They're trash.
• 33:47
  Well, people, you're catching a falling knife.
• 33:51
  It's like, am I or I'm just grabbing free gold that is on the floor?
• 33:55
  Because to me, that's gold.
• 33:57
  I'm not catching any falling knife.
• 33:59
  A falling knife might be a company that is going bankrupt, but a company that out of fear, Elon bought Twitter, the world is going to end.
• 34:07
  Elon got in a fight with Trump, the world is going to end.
• 34:12
  To me, that's not a falling knife.
• 34:13
  To me, that is just people just freaking out.
• 34:16
  Oh my gosh, Liberation Day, the world is going to end.
• 34:20
  I'm not going to have any American companies anymore.
• 34:23
  And I'm going to buy European companies out of fear.
• 34:26
  And now all of a sudden, after a couple of months, we are back at all time highs.
• 34:31
  Now, is it because of that or is it because of monetary divestment?
• 34:34
  That's a different topic, different conversation to have.
• 34:36
  Maybe it's both.
• 34:37
  But I don't see you picking up gold for half the price when everyone is running around and crying and screaming as a weatherman.
• 34:47
  You understand the future where you think that the future is happening.
• 34:52
  The future is not the next quarter.
• 34:53
  That is weatherman.
• 34:54
  oh, you have no idea because the tariffs and the world is going to end.
• 34:57
  It's like, well, oh, you have no idea.
• 34:59
  COVID, the world is going to end.
• 35:01
  Oh, you have no idea.
• 35:02
  Now Trump, blah, blah, blah.
• 35:04
  Oh, there's this or that.
• 35:05
  It's so whatever the media is talking about.
• 35:08
  That's maybe a good way of thinking.
• 35:10
  Whatever the legacy media is talking about, don't matter.
• 35:13
  It doesn't matter whatsoever for anything related to your long-term investments.
• 35:18
  For me, and I agree, realizing that it does for many, most of the world, the large majority, that's an edge, right?
• 35:28
  To realize, and I think this is helping me communicate it more clearly.
• 35:32
  I just am excited to get in when everyone's running out, like flipping it.
• 35:37
  And right now, it feels like people are generally like, oh, you know, this is really cool.
• 35:43
  And this is
• 35:44
  I don't think that we are in the moment where the stock is at 100 and people are screaming because Elon doesn't know anything about software and he just bought a software company, Twitter.
• 35:55
  So braindead, that kind of thought process.
• 35:58
  We are not at that time.
• 35:59
  We are not at the time where tons of wealthy people are screaming because Liberation Day in April 2025, the stock market starts going down and the world is going to end.
• 36:10
  Because now all of a sudden, I don't know, wars are going to happen and the world is going to end.
• 36:15
  That is panic.
• 36:17
  That is big panic, let's say.
• 36:19
  Right now, I don't see that whatsoever.
• 36:22
  Now, do I see big greed like the NFT craze?
• 36:30
  No, I don't see that also.
• 36:31
  Are we at all-time highs?
• 36:33
  Yes, we are.
• 36:34
  Measured in what?
• 36:35
  In dollars.
• 36:36
  Yes.
• 36:37
  Monopoly, man.
• 36:38
  Measure in the hardest task that they've ever created, we are not at all-time highs.
• 36:44
  So you have to also consider that.
• 36:45
  But the way, just coming back to your decision, I think that you need to consider
• 36:51
  When will you pull the trigger?
• 36:53
  Do you have expertise of setting up a, I am going to buy when it's 30% down or 29% down or 31% down and really pulling the trigger there?
• 37:05
  Because guess what, Peter?
• 37:07
  When that stock is down 40%, everyone is fucking crying and everyone is running through the exits and screaming.
• 37:16
  And if you're a very good investor, most likely you are like this.
• 37:18
  I'm like, oh, this is going to keep going down.
• 37:20
  You never know when it rebounds.
• 37:22
  And knowing Tesla, when it rebounds, it just tears and you don't catch it up.
• 37:27
  So do you have that coldness to make the decision and pull the trigger?
• 37:33
  Yes, no.
• 37:34
  You have receipts showing that you did that in the past.
• 37:38
  Well, yeah, you bought Netflix, or maybe you bought something else, but you didn't.
• 37:44
  Did you really move 50% of your wealth to do that?
• 37:47
  Maybe yes, maybe you didn't.
• 37:49
  I don't know.
• 37:49
  In that case, it was like 10 to 15% of my wealth on that one trade.
• 37:53
  And it was at one day.
• 37:54
  I think that's the part that I am confident in myself, I know myself of.
• 37:58
  That's where I'm in a different mindset of, it was so clear to me.
• 38:03
  Were you waiting for how much time for that to happen?
• 38:05
  No, no, no.
• 38:06
  No, it was just...
• 38:07
  Exactly.
• 38:08
  That's my point.
• 38:09
  That's my point.
• 38:10
  You have no, based on what I'm hearing, you have no expertise waiting for something to happen and then pulling the trigger when that thing happens.
• 38:19
  Oh, you mean versus like new news?
• 38:21
  Because I'm trying to think the Netflix thing, the Netflix thing, it wasn't maybe that day, but it was literally, I saw their stock had like their record crash.
• 38:29
  in a quarter.
• 38:30
  Everyone's saying it's toast.
• 38:32
  I saw one news article that said they're testing password crackdown in Europe or somewhere in the world.
• 38:36
  I think maybe it was South America.
• 38:38
  I was like, this makes complete sense.
• 38:40
  And within a week or two, I just won one purchase.
• 38:43
  Yeah.
• 38:43
  So that's what I'm saying.
• 38:44
  You have track record pulling the trigger on something that you were not really following.
• 38:50
  You are not really considering.
• 38:52
  You saw an opportunity.
• 38:53
  You went in, you made a big bet, you won.
• 38:56
  Great.
• 38:57
  Do you have the expertise predicting the future and acting in that prediction?
• 39:01
  I think the one other one that makes sense is like I had a financial goal where I said, if I make this much money, I'm going to stop chasing money.
• 39:08
  OK.
• 39:08
  This is a way to debug our brain.
• 39:10
  And it's helping me think more clearly is it might be something like every time Tesla is down 10 percent, I buy.
• 39:16
  You know, every time there's a 5 percent or whatever the arbitrary amount, it's just automatic.
• 39:26
  dates, dollars, whatever it is, then we don't play these games or clear thinkers don't.
• 39:32
  And it worked for me on a personal wealth thing.
• 39:34
  Like I stopped chasing just money, jobs, whatever, once I reached, once we sold the business and got to a certain level.
• 39:41
  That and Bitcoin, right?
• 39:42
  Those two allowed me to get there.
• 39:44
  And it just, my brain shifted because I committed to this date and time.
• 39:48
  I said, whenever it happens, whatever age, this is the new system to operate.
• 39:53
  So which option feels better to you, not rationally, but from an internal compass, is to just sell everything tomorrow, buy everything tomorrow and forget about it, or to put an arbitrary date and pull the trigger, no matter if it's up, no matter if it's down, it just doesn't matter.
• 40:12
  Or...
• 40:13
  just wait with a predetermined up or down to pull the trigger.
• 40:19
  Meaning if it's down X percentage, you pull the trigger.
• 40:23
  Or if it's up X percentage, you pull the trigger.
• 40:26
  No, it's a good question.
• 40:28
  I think it's kind of a mix of saying, look, by X date in 2026, I will have 50%.
• 40:34
  If I want to do that earlier or gradual or just boom at that date,
• 40:39
  it just sets this line in the sand to be like, okay, here's the time.
• 40:41
  Because I don't want to be a weatherman.
• 40:43
  But if there are volatility dates, because I might be wrong, right?
• 40:47
  There may be no volatile dates.
• 40:49
  It might just kind of teeter around at one trillion market cap and then take off some arbitrary date.
• 40:54
  And if it did that, my whole philosophy is wrong, right?
• 40:57
  Right.
• 40:57
  So the only way to still get in is pick this date and say, you know, my birthday is January 16th.
• 41:02
  Okay, by January 16th, 2026 or something like that, this is the shift, right?
• 41:07
  And I think that's their earnings.
• 41:09
  I think they release earnings in January as well.
• 41:11
  You know, so then it's like, okay, well, I've given two quarters of was there volatility?
• 41:15
  Was there something crazy?
• 41:17
  Be ready to sell it all.
• 41:18
  Be ready to sell the other 40% of my liquid stuff.
• 41:21
  But you wouldn't set up a specific percentage.
• 41:24
  We just go out of gut feeling.
• 41:26
  It doesn't matter because it's easier for me because I don't want to cut any of my flowers with the Bitcoin and MicroStrategy.
• 41:35
  So let me give you an example.
• 41:36
  The stock goes down.
• 41:38
  We are in October and it's down from today.
• 41:40
  It's down 30%.
• 41:42
  You don't pull the trigger.
• 41:43
  Oh, I'd pull the trigger on all of it.
• 41:45
  The stock is down 20%.
• 41:46
  You don't pull the trigger?
• 41:47
  My thought is I would pull the trigger whether it's all or part.
• 41:51
  Yes, I'm pulling the trigger.
• 41:53
  With 20%?
• 41:54
  Yeah, yeah.
• 41:55
  Like maybe it's 20, maybe it's 10.
• 41:56
  I just start compounding that.
• 41:58
  Okay, so all I'm saying is it's just so random the way that you have it designed in your head.
• 42:04
  And which I have seen with myself and with others is that that leads to mental drainage, total waste of mental energy.
• 42:14
  It's a really good challenge.
• 42:15
  Because you are thinking, oh, okay, what is down today?
• 42:18
  Oh, today is 2.7.
• 42:19
  Okay, now we are at 12 points.
• 42:21
  Okay, I'm just going to keep... Only Fridays.
• 42:23
  Truly.
• 42:23
  Okay.
• 42:24
  All right.
• 42:24
  I'm good to that, like 99.
• 42:26
  Listen, when the stock goes down, when Tesla goes down, you will find out.
• 42:30
  I see some chatter in the chat group of like, we're getting crushed, but I don't go look at it.
• 42:34
  This will surprise you.
• 42:34
  I changed that this year because you were right at the mental drainage.
• 42:37
  And here's the cool part.
• 42:38
  Now some Fridays happen.
• 42:39
  I don't even look at investments at all because I forget.
• 42:42
  And I have this rule in my head.
• 42:44
  It's a line in the sand.
• 42:45
  You do not look except Fridays.
• 42:46
  We did this with our kids.
• 42:47
  You'd be proud of this.
• 42:49
  And actually, this is our wonderful, Annie, who's just amazing.
• 42:52
  Saturday is candy day.
• 42:53
  So it's just an easy answer.
• 42:54
  We never have candy, never have sweets except Saturday.
• 42:57
  Right.
• 42:57
  And then some Saturdays come and they like kind of forget or they just don't have it.
• 43:00
  They're also busier because they're in this really cool school where they're outside all the time.
• 43:04
  They're just dead tired.
• 43:05
  So they're not as like thoughtful of it.
• 43:07
  But coming back to Bitcoin, the way I'm looking at it or Tesla to not screw myself from just rocket ship or gradual increase.
• 43:15
  There's this line in the sand.
• 43:16
  Here's the date.
• 43:17
  All needs to transpire by this date.
• 43:18
  between today and that date, yeah, I could go in 10% of it and then 20 and then 30 or all of it.
• 43:24
  When it's like, okay, somebody gets hit by a Tesla and the stock goes down 40% and people are just losing their minds.
• 43:29
  That is like my dream, not for that person and for something bad, but it happened to Waymo, right?
• 43:35
  It's like Waymo had some person that was probably not in a sound mind run across the highway and a Waymo hit him, hit the person.
• 43:42
  It's a road in which people are running.
• 43:44
  The person was hit, right?
• 43:45
  That does not scare me at all because 44,000 Americans die a year in car accidents, right?
• 43:49
  There will be consequences.
• 43:51
  But a lot of these humans that are so fearful and there's one edge case and the news blows it up, which I don't consume, that will just like blow their minds.
• 43:59
  That may never happen.
• 44:00
  I hope it never happens for the safety of people.
• 44:02
  But I think giving myself a six-month period or whatever and saying, hey, Elon says it's going to be really rocky and volatile.
• 44:09
  I mean, truly, I didn't come to this thought until our chat now.
• 44:11
  I don't think that, I am not sure how you would react if the stock, right now you can buy it.
• 44:17
  I don't know what is the valuation, but let's just say that it's a trillion dollar company.
• 44:21
  How would you react if by January the company's at 1.5 trillion rather than at 700?
• 44:27
  I'd still buy it.
• 44:28
  If I set the line in the sand, I'd be like, okay.
• 44:30
  But I'm not sure how would you feel about that?
• 44:32
  Dude, just remember, I almost put in 50% of my wealth, right?
• 44:37
  I went from really poor to wealthy, sold a business to Ford Motor Company.
• 44:40
  I almost put it at $25 billion market cap.
• 44:44
  And I watched it go all the way up to a trillion.
• 44:47
  Then if you think like that, then why not pulling the trigger right now?
• 44:51
  I think that there is still a...
• 44:53
  It's poor software.
• 44:55
  That's all it is.
• 44:56
  It's a combination of fear and like hearing Elon say, we're going to have rough, the next couple of quarters will be really rough.
• 45:03
  When you identify that you have poor software, a bug in your software, what do you do?
• 45:08
  Try and work on the bug, try and replace it.
• 45:10
  Okay, how do you replace it?
• 45:11
  How would you replace the bug?
• 45:13
  Dr. Pablo takes a scalpel and just goes in through my, he goes through my eye.
• 45:16
  I don't.
• 45:17
  You do the surgery yourself.
• 45:19
  I go, I take Pablo's scalpel, I go straight through my eye and rip it out.
• 45:22
  I just, I just passed the tool to you.
• 45:25
  Exactly.
• 45:26
  Peter, it's time.
• 45:26
  Here it is.
• 45:27
  Here's, here's the tool.
• 45:29
  So how would you do it?
• 45:30
  You want to change, right?
• 45:32
  You want to remove it.
• 45:32
  Me?
• 45:33
  Ideally, a person should go into the software and upgrade it.
• 45:36
  Okay, but you?
• 45:36
  What about you?
• 45:37
  That's my goal.
• 45:39
  Can you say it?
• 45:40
  That's my goal.
• 45:41
  To change what?
• 45:42
  Can you say the whole thing?
• 45:43
  Oh, to change being a weatherman.
• 45:44
  Okay, so how would you change you being a weatherman?
• 45:47
  I mean, in this case, it's ignoring the CEO's comment and the fear that arises from a year of pain or six months of pain because I believe in the long-term upside of it, right?
• 45:59
  I know they're going to win.
• 46:00
  I'm very confident that they will win.
• 46:03
  It's funny, it's really getting ripped off.
• 46:05
  Like, that's what, when I'm thinking about it.
• 46:07
  Getting ripped off?
• 46:08
  Yeah, it's like, if you go to a store and you're buying this thing for, you know, a thousand bucks or 10,000 bucks, and you're like, oh man, I just had to look on Amazon and it's $500.
• 46:20
  That was just dumb.
• 46:21
  I think it's that kind of feeling when I look at, Elon says it's going to be going down, or sorry, likely to go down.
• 46:29
  Elon never said that.
• 46:31
  So stop saying that.
• 46:32
  Please show me exactly what he said.
• 46:35
  Let's pull up his exact words.
• 46:36
  What were his exact words?
• 46:37
  Yes, please.
• 46:38
  He said the next quarters, July 23, 2025, Elon Musk warned that Tesla was likely to face a few rough quarters during the company's second quarter earnings call.
• 46:49
  Yeah.
• 46:49
  The warning came as Tesla announced a steep drop in revenue and profit and faces several significant market challenges.
• 46:55
  Inspiring U.S. tax credits, weak EV demand, transition next generation vehicles, delayed robo-taxi rollout, increased competition.
• 47:04
  The name of that?
• 47:05
  July 23rd, 2025.
• 47:08
  Earnings call.
• 47:09
  Despite the short-term struggles, Musk express confidence that Tesla's economics would become, quote, very compelling by late 2026 once its robo-taxi fleet is deployed at scale.
• 47:20
  Long-term vision is built on Tesla AI robotics ambitions with the market increasing focus on these future prospects rather than the company's current financial performance.
• 47:28
  Like, I listen to every earnings call.
• 47:29
  The whole thing.
• 47:30
  I try to.
• 47:31
  I consume all of this stuff.
• 47:33
  So let's go back to the bug.
• 47:34
  So, because now we got it diverted here.
• 47:37
  So you identify that being a weatherman is an old software precondition or what?
• 47:47
  I think it's just, it's a bug that most of us have, right?
• 47:50
  That we think we know or we believe in our ability to predict.
• 47:54
  Yeah.
• 47:55
  And you don't want to get ripped off.
• 47:57
  Yeah, I think that's a part, and it may be different or the same, is to me, I believe what he says.
• 48:05
  He's a truth seeker.
• 48:05
  He shares truth, right?
• 48:08
  Everything he said makes sense, right?
• 48:09
  We've got, I think, 50, no more than 100 cars on the road on cybertaxi right now.
• 48:14
  Right.
• 48:14
  So it's still a very small fleet.
• 48:16
  It's I drive almost every day and the latest version.
• 48:20
  Right.
• 48:21
  It's great.
• 48:22
  Right.
• 48:22
  My personal belief is the front camera is a really unlocking factor to actually be better than humans.
• 48:28
  Right.
• 48:28
  Not the same as a human to be better than humans and to create safe when you're really just pulling out on roads.
• 48:34
  There's just this vantage point.
• 48:36
  So because of that, because of the new Trump bill, because of all the things Elon said, I think he's right.
• 48:44
  Is there a difference between having a rocky quarter from a financial point of view to what's the price of the stock?
• 48:50
  Most of the time, yes, that's all tied together.
• 48:54
  When you have a rocky quarter, people react really harshly on the stock.
• 48:58
  So when the stock went down massively for Twitter, what was the problem with Tesla?
• 49:05
  Nothing.
• 49:06
  Nothing was wrong with it.
• 49:08
  There you go.
• 49:09
  Yeah.
• 49:09
  I mean, the market's not always rational, right?
• 49:12
  That's the hard thing.
• 49:13
  And that's why I want to be in.
• 49:15
  I mean, I do think now we're probably getting to small, like you've really helped me upgrade on the key part, which I may continue to evolve it.
• 49:21
  At a minimum, my now rule is like, hey, Elon said 2026.
• 49:25
  It might be 2027.
• 49:27
  I don't care if he's right about what he predicts, right?
• 49:31
  I want to be fully deployed in the year 2026.
• 49:35
  And there's got to be an arbitrary date, right or wrong, if there's an opportunity.
• 49:39
  I do like you helping me separate.
• 49:41
  It's not a weatherman to say, I want an opportunity where everyone's scared.
• 49:45
  Because I have... Yeah, that is a different thing.
• 49:47
  To me, that is a much more strong mind and resilient mindset rather than going against the herd and so on.
• 49:55
  That's a different story than going with the herd.
• 49:59
  Elon said that it's going to be rough quarters.
• 50:01
  I'm just going to time the market here.
• 50:03
  That's what I want.
• 50:04
  That is going with everyone.
• 50:05
  So what I want is to be, I don't think most people are listening to Elon.
• 50:09
  I don't think they're understanding the current dynamics.
• 50:11
  I am.
• 50:12
  So I'm using the information he's sharing to say, I think according to him, there's a strong probability that...
• 50:18
  that I can use this skill I have, right?
• 50:20
  This like, I don't know, stomach rigor, knowing myself.
• 50:23
  How do you connect that you have this skill, but then at the same time you're telling me that this is a bug in your software?
• 50:29
  Yeah, it's a good question.
• 50:30
  Try to answer it.
• 50:31
  I think it's both points.
• 50:32
  Like I think, I don't know, let's say 50% of it is me being opportunistic, saying like, hey, here's a chance that I'm going to get, that I get to use this.
• 50:39
  I've been working out this muscle, right?
• 50:41
  I'm doing bicep curls.
• 50:42
  I'm going to use this muscle.
• 50:43
  50% of it's like, I don't want to get ripped off or I'm scared and fearful because of what Elon said.
• 50:49
  Like, it's not one, there's not one driver.
• 50:51
  There's two drivers here that are contributing to my thought.
• 50:53
  Okay.
• 50:54
  And you are allocating 100% of the money to which driver?
• 50:58
  I don't know.
• 50:58
  40, 60%, like one or the other, I don't know which.
• 51:02
  I don't know who's in driver's seat and who's calling shots from shotgun next door.
• 51:06
  For now, it'll be driverless soon.
• 51:08
  Don't worry.
• 51:09
  We will see how it evolves.
• 51:10
  Let me ask you, let me just change topics.
• 51:12
  Yeah.
• 51:12
  You mentioned that you had a family EOS meeting.
• 51:16
  Yeah.
• 51:16
  So can you explain for the audience that don't know what is EOS?
• 51:21
  And then I want to personally know, how do you run a family EOS meeting?
• 51:25
  What does that mean?
• 51:26
  Yeah.
• 51:26
  So EOS stands for Entrepreneurial Operating System.
• 51:29
  I know you love when I shout out for Indiana.
• 51:31
  It's owned by a bunch of Indiana families now.
• 51:34
  It's created by this guy, and all the business books.
• 51:38
  And he said like, okay, let's take that piece of software, that piece of software, this one, put it into one system.
• 51:43
  So it's a really simple system that if I describe it in one phrase, it's pulling the important but not urgent things to today.
• 51:52
  Like most of us won't prioritize something that's important but not urgent.
• 51:56
  What gets all of our attention?
• 51:57
  It's called the four D's.
• 51:58
  It's a Dwight Eisenhower former president's quote.
• 52:00
  They prioritize what's urgent and important or just urgent but not important.
• 52:06
  And we don't do the things that are important but not urgent.
• 52:08
  So EOS is all about prioritizing that.
• 52:11
  We did it with this nonprofit high school hustle.
• 52:12
  It's worked really well.
• 52:14
  We did kind of forms of it.
• 52:15
  I wish I did it properly at my software business.
• 52:17
  I will not be involved with organizations or my goal is not be involved with organizations that don't use it because it creates clear thinking.
• 52:24
  Now, what is an organization, whether it's a nonprofit, a family, a business?
• 52:27
  It's just a collection of humans that have a shared goal.
• 52:30
  That's it, right?
• 52:31
  I don't care what you are.
• 52:32
  Family, nonprofit, business, it's all.
• 52:34
  The shared goal does not have to be money.
• 52:36
  It does not have to be something like a business, right?
• 52:40
  In our case, the shared goal is, and we're working on the exact phrasing, like our goal is to allow each of us to achieve our true potential or be in alignment with our authentic selves or to be childlike, right?
• 52:53
  These are like the phrases we're trying to figure out our exact goal.
• 52:55
  Okay, well, how do we accomplish that?
• 52:57
  Well, you come back to your goal in 10 years, and then you come back to three, one, and then quarterly.
• 53:03
  And some of the tools that are really powerful is they have something called IDS, identify, discuss, solve.
• 53:08
  So everyone has problems, right?
• 53:10
  Like, okay, I noticed the kids got out of our gate or like we're on top of the car, which they were.
• 53:14
  Both of these things have happened.
• 53:17
  Which like, you know, usually with adults, you know, an adult's out there or I'm out there and everyone's freaking out because they're not comfortable.
• 53:24
  This can be brought up at this time as a discussion point.
• 53:29
  Or, you know, we drop the ball and we notice the kids are just going to bed too late every night.
• 53:33
  Well, we can discuss this at this moment.
• 53:35
  No one really wants to discuss the like, and it's not about, hey, Pablo did something wrong.
• 53:39
  Peter did something wrong.
• 53:40
  It's just, we have a problem in how we're operating.
• 53:42
  So, you know, the idea is one part of it, but you basically set up this whole system.
• 53:47
  You have your values.
• 53:48
  So like, what do we value?
• 53:49
  So let me ask you on that.
• 53:51
  When you say we, we, we, is you and your wife, somebody else?
• 53:55
  Yeah, great, great question.
• 53:57
  So for most EOS in a business, you pay like $10,000 and you do a two or three day event with your business and your leadership.
• 54:05
  And you get organized.
• 54:06
  You go through all this stuff.
• 54:07
  We did the nonprofit.
• 54:08
  We did it in one day.
• 54:09
  And it was like the nonprofit leaders and then this guy.
• 54:12
  In our case, we had this student I know that's a college student that's obsessed with EOS.
• 54:16
  He reads all the books.
• 54:17
  He was leading it.
• 54:18
  It was our nanny, my wife, me for the first one.
• 54:21
  So it was the four of us.
• 54:22
  And we were just going through all this.
• 54:24
  I got confused.
• 54:25
  You're talking about the nonprofit and the family separate or what?
• 54:29
  So business and nonprofit, you typically would have a EOS employee.
• 54:34
  There's these contractors that they go and coach people on it.
• 54:37
  That's their full-time job.
• 54:38
  We did that with a nonprofit.
• 54:39
  Now, in our family, it was a college student I know that's obsessed with the U.S.
• 54:43
  He thinks he might want to do it professionally.
• 54:45
  My wife, my nanny, and me.
• 54:48
  You have these different levels.
• 54:49
  So the nanny ideally will be what they call an integrator, which is like the day-to-day leader.
• 54:53
  And that allows me and my wife, but you're really only supposed to have one to be a visionary.
• 54:58
  And I want to serve in the visionary role to be, you know, now I have a task as well, which is I take the kids to school.
• 55:05
  I love that.
• 55:06
  I take them on a bike.
• 55:07
  That's like a task I want to take on.
• 55:09
  We do have a system where if I'm not there, you know, we have someone else that fills that.
• 55:13
  Okay.
• 55:14
  And when you said that you had this EOS meeting with your family, so you're basically the nanny, your wife, yourself, and a facilitator.
• 55:22
  Yep.
• 55:22
  Is this the first EOS family meeting that you had?
• 55:25
  It's a good question.
• 55:27
  We've kind of done it before, but it's the first time we took it really seriously.
• 55:31
  I didn't realize my wife had no interest in it because I didn't even remember it.
• 55:35
  I told her I wanted her to be the integrator and me to be the missionary.
• 55:38
  she, you know, we're not doing IDS.
• 55:40
  She didn't commute and I didn't get out of her that she had no interest in that.
• 55:43
  When was this?
• 55:44
  I don't know.
• 55:45
  Maybe a year ago, six months ago, I think I said like, let's do IDS or let's do EOS and you be the integrator.
• 55:50
  So again, and this kind of shows the example.
• 55:52
  It's instead of everyone keeping their problems and issues they see in their own heads and it creating issues, you put it all on the table.
• 55:59
  So literally she brings out and she's like, I don't want to be an integrator.
• 56:02
  It's like, oh, okay.
• 56:03
  All right, now we solve it.
• 56:05
  So instead of having big fights or blowups or disagreements or misalignment, you're creating a constant cycle to bring out what's important but not urgent.
• 56:13
  So if I can summarize, what you guys did was you sit down and you put all the issues on the table.
• 56:20
  And I guess that you did the keep-kill combined to bring issues together and to remove things that are duplicated and so on or kill the ones that are not really an issue.
• 56:31
  And then you went into solving the most important issues.
• 56:35
  Yes.
• 56:35
  That was one part.
• 56:37
  The other part was we got our values.
• 56:39
  So our values, we did CIA.
• 56:41
  So it was creativity, interdependence, less independent, authentic.
• 56:47
  And then the fourth one was the one they wanted, which was like love or kindness.
• 56:52
  Why are you saying like that?
• 56:54
  That's so despective.
• 56:55
  Yeah.
• 56:56
  guy who was leading it was like, well, this is a family.
• 56:58
  You have to have love and kindness.
• 57:00
  And my wife was like, no, a lot of families don't.
• 57:02
  So it's funny because I loved CIA because I can remember that acronym easily, right?
• 57:06
  Creativity, independence, interdependence, and authentic.
• 57:10
  And I do agree, right?
• 57:11
  And you mentioned this, right?
• 57:13
  You mentioned like in America, we don't give enough.
• 57:15
  Ever since you said it, every single morning, the first thing I say to my kids is I love you and, you know, try and give them a hug and show them that.
• 57:20
  So maybe it is a good one to have.
• 57:22
  Love is the last one.
• 57:22
  So you come up with your values.
• 57:23
  You come up with your— And so, for example, one of our things was we want to do a year somewhere around the world.
• 57:29
  And everybody assumes, oh, we'll get to that.
• 57:31
  And then they wake up and they're 80 years old and they're like, what the hell just happened in this life?
• 57:36
  So it's being intentional about this as something important.
• 57:38
  And then you break that goal down.
• 57:40
  We want to do that in the next 10 years.
• 57:41
  Now we need to think, okay, in the next three years, we need to pick a location.
• 57:44
  In the next year, let's create a matrix where we can start judging and thinking about different cities or countries.
• 57:49
  So we talked about all of this during the meeting.
• 57:51
  How often are you running these meetings?
• 57:53
  We're going to do every week.
• 57:53
  On a weekly basis?
• 57:54
  Yeah.
• 57:55
  Weekly is just a check-in.
• 57:56
  Then you do a really intense one every quarter.
• 57:59
  Okay.
• 57:59
  Did you do this in your business?
• 58:01
  No.
• 58:01
  I wish I did.
• 58:02
  Okay.
• 58:02
  I did?
• 58:02
  Yeah.
• 58:03
  Yeah.
• 58:03
  So I did it in the business.
• 58:05
  It was incredible.
• 58:06
  I think I can remember it was in 2020 or 2019.
• 58:08
  It was incredible because I am, as you, a visionary type, which basically means I just run with things.
• 58:17
  People get totally left behind.
• 58:19
  I get upset why people are not besides me.
• 58:22
  What's going on here?
• 58:23
  And they're like, what's going on?
• 58:25
  Why is not that obvious what we are doing here?
• 58:27
  What's wrong with people?
• 58:29
  So that was awesome.
• 58:30
  It brought a lot of clarity, a lot of unity, and great tools to solve problems.
• 58:35
  You know, the whole IDS, the keep-kill combined, the download, what's working, what's not working, then creating the issues list.
• 58:45
  That was one of the goals.
• 58:48
  The rocks, which is the term that they use in EOS.
• 58:50
  Yeah.
• 58:52
  And it was really, really, really good for, I would say, three years.
• 58:57
  Wow.
• 58:58
  And then it became, how do you call this?
• 59:01
  Not a problem.
• 59:02
  It became...
• 59:03
  Extra work?
• 59:04
  It became a stone in our shoes.
• 59:07
  Wow.
• 59:07
  Because now it became something that was slowing us down.
• 59:10
  Wow.
• 59:11
  Because as an example, and again, this may work very well for humongous companies.
• 59:15
  We're a small company, right?
• 59:16
  20 people.
• 59:17
  So do I want to put a lot of bureaucracy and a lot of formal things and ways to do things, or I just want the speed and people communicating fast, right?
• 59:26
  So if I have a meeting in a family, it might be different, right?
• 59:29
  Because I guess that unless you just block a time to IDS, or it happens all the time, and that's the only thing that you're talking about.
• 59:35
  I think that is the biggest danger in a family.
• 59:38
  So instead of, okay, wife, okay, husband, let's just sit down and let's dump in the issues list, what are the issues and let's ideas.
• 59:46
  Then all of a sudden, every day you are just talking about to-dos and you're talking about issues.
• 59:52
  And that's what I see as the most common thing, including in my life.
• 59:55
  So I love the idea of, okay, we're just going to discuss.
• 59:59
  And of course, if there is something urgent, of course, that we are going to tackle this.
• 1:00:08
  or almost everything, unless it's literally the building is burning down, everything gets pushed to the weekly meeting.
• 1:00:15
  So everything becomes slower.
• 1:00:18
  Or they have another tool, which is like a feedback tool.
• 1:00:22
  You know, this, how do you call it?
• 1:00:25
  A performance review.
• 1:00:26
  Okay, Peter, you are my employee, you work in my team, we're going to meet every quarter.
• 1:00:32
  So I give you feedback.
• 1:00:33
  Okay.
• 1:00:35
  Why?
• 1:00:36
  Why do I need to wait three months to give you feedback?
• 1:00:39
  That's so stupid.
• 1:00:40
  Yeah.
• 1:00:41
  The thing that's interesting for, I mean, we have a lot of similarities.
• 1:00:45
  For my relationship, my personal relationship with my wife, she debilitates her to go through this.
• 1:00:53
  Like when Pablo gives me something, most of the time, right?
• 1:00:55
  And this is why I love you because you pushed me on this.
• 1:00:57
  Nine out of 10, I'm like, okay, cool, I'll do it.
• 1:00:59
  One out of 10, I'm like, oof, this feels hard.
• 1:01:01
  I probably should do it.
• 1:01:02
  And I just go do it.
• 1:01:04
  Her, she internalizes it as an attack on her as a good person, as a good wife.
• 1:01:09
  So for her, it gives her a chance to say, oh, this is one time a week that I need to prepare for.
• 1:01:15
  And this is the place, it's a container that this is where it will happen.
• 1:01:18
  Otherwise we don't do this.
• 1:01:19
  I want my house to be relaxed, not focused on improving.
• 1:01:22
  I get excited to improve.
• 1:01:24
  I love talking about changing.
• 1:01:25
  Sorry, she does.
• 1:01:26
  Oh, I see what I'm saying.
• 1:01:27
  You like talking all the time about that.
• 1:01:29
  I would do it every hour.
• 1:01:30
  She feels that it's an attack.
• 1:01:31
  Drains her.
• 1:01:33
  Drains her.
• 1:01:33
  It makes sense.
• 1:01:34
  I'm just wondering if you are bringing topics about your beautiful ideas of what she needs to do, you know, it feels like work all the time.
• 1:01:44
  That's a good point, right?
• 1:01:45
  I'm sure there's ways for me to communicate it better, right?
• 1:01:48
  I don't think it's just her to do it.
• 1:01:50
  It could be like, let's just do this differently.
• 1:01:53
  Like us doing that differently is a, she comes from healthcare industry.
• 1:01:56
  They like the same way.
• 1:01:57
  They do it the same way for 30 years, right?
• 1:01:59
  Give me one example.
• 1:02:00
  Like if we have a nanny here helping or somebody here helping at the house and
• 1:02:06
  You know, I might be like on a call or having conversations with someone.
• 1:02:09
  She doesn't do this much anymore, but she would turn to me like, hey, will you take the trash out?
• 1:02:13
  And it takes me away from a conversation or something I'm doing.
• 1:02:16
  And there's someone that we're paying to help with our kids and like, you know, just take the trash outside.
• 1:02:21
  And I don't enjoy that.
• 1:02:23
  Or that's something that I feel I'm paying for it twice.
• 1:02:26
  Right.
• 1:02:27
  Or that person's getting paid.
• 1:02:28
  Maybe I'm with the kids, like playing with the kids.
• 1:02:30
  Just like, hey, can you take the trash out?
• 1:02:31
  My thing is, there is a person here who ideally we are paying to do that.
• 1:02:36
  Please ask them first.
• 1:02:38
  Right.
• 1:02:38
  Or please request them.
• 1:02:39
  I'm always available if there's an emergency.
• 1:02:41
  I'm always there to to solve a problem, take a kid to a hospital, show up in whatever way.
• 1:02:45
  But monotonous, minor things I don't enjoy.
• 1:02:48
  I want to focus on the kids.
• 1:02:49
  I want to focus on that nonprofit meeting or business meeting or whatever I'm doing.
• 1:02:53
  I hear you, but I don't understand.
• 1:02:55
  So this is a topic that you would like to bring anytime, but instead of bringing it anytime because she feels maybe attacked or whatever, you bring it all at once one day on Fridays or whenever you guys decide to do the EOS meeting.
• 1:03:07
  Is that correct?
• 1:03:07
  Correct.
• 1:03:08
  Okay.
• 1:03:09
  So the difference that I see between what you mentioned before, I would do this all the time.
• 1:03:14
  Yeah.
• 1:03:14
  Yeah.
• 1:03:15
  To what you just mentioned, to me, I understand her now because this is an instant request on her to change the way that she does things.
• 1:03:26
  And by the way, you are 100% right, in my opinion.
• 1:03:29
  Of course.
• 1:03:30
  But just to be clear, she doesn't do it as much anymore because we talked about it.
• 1:03:33
  But there's still like, let's say it used to be twice a day, three times a day.
• 1:03:37
  Now it's three times a week.
• 1:03:39
  That's fine.
• 1:03:39
  So what I'm saying is then you have other conversations, which I don't think that they need to wait to that.
• 1:03:46
  So to that moment of that weekly meeting where you are asking her to change.
• 1:03:51
  If you have a vision about like, babe, I am thinking, what if we are ideating with her?
• 1:03:57
  Right.
• 1:03:57
  I don't think that that should wait for the meeting.
• 1:04:00
  And I don't think that that is stressful.
• 1:04:03
  Because you're not asking her to change anything.
• 1:04:05
  You are just brainstorming about the future.
• 1:04:08
  Babe, wouldn't it be cool?
• 1:04:10
  What do you think about?
• 1:04:11
  What do you think if we do rather than... Because that's a we, that's a family thing.
• 1:04:15
  The other example is, Babe, can you stop asking me to throw the garbage?
• 1:04:19
  I'm paying for the nanny.
• 1:04:20
  Can you stop asking me rather than, Hey, babe, what if we start going to this amazing place on Tuesdays for a date?
• 1:04:29
  We'd do that.
• 1:04:30
  That's no problem.
• 1:04:31
  She's, her love language is quality time.
• 1:04:33
  She'd be like, hell yeah, I'm in.
• 1:04:35
  So?
• 1:04:35
  Ideas, new ideas of fun things to do, for sure.
• 1:04:40
  Vision things she's aligned with.
• 1:04:42
  The one other piece is I'm really in these personality types.
• 1:04:46
  In Myers-Briggs talk, she's an SJ.
• 1:04:48
  SJs are wonderful for society because they're the rock.
• 1:04:52
  They, like, are consistent.
• 1:04:53
  Wonderful for what?
• 1:04:54
  Society.
• 1:04:55
  They're the ones that show up same day, every day, doing the same kind of job.
• 1:04:59
  And they will be fulfilled through that work.
• 1:05:02
  That is not me.
• 1:05:03
  Right.
• 1:05:04
  I'm intuitive.
• 1:05:05
  Right.
• 1:05:05
  So I'm off the charts on the intuitive.
• 1:05:06
  So I'm just thinking about systems and how to change them and shift them.
• 1:05:10
  That gives me energy.
• 1:05:12
  That reduces energy for most SJs because it's shifting.
• 1:05:17
  Right.
• 1:05:17
  Positive or negative.
• 1:05:18
  Now, she is still.
• 1:05:20
  Can I add one caveat and correct me if I'm wrong?
• 1:05:22
  You are not thinking about systems and how to change them.
• 1:05:26
  Or you are.
• 1:05:27
  You are thinking about systems that somebody else needs to change.
• 1:05:32
  Most of the time, yeah, because I'm not doing the work in the systems.
• 1:05:36
  I'm imagining the systems.
• 1:05:37
  Yeah.
• 1:05:38
  So that is a little bit difficult, especially if the person in front of you is the one that needs to change the systems.
• 1:05:46
  Yes.
• 1:05:47
  Sometimes it's I would change as well, like both of us.
• 1:05:49
  Like, hey, what if I park here?
• 1:05:51
  Like, I'm having trouble getting into this parking spot.
• 1:05:54
  I can start parking here.
• 1:05:55
  You start parking here.
• 1:05:56
  It's both of us doing something differently in that system as just a different kind of random example.
• 1:06:03
  Yeah, I think it's interesting to think, I didn't realize this, right?
• 1:06:07
  In Myers-Briggs or somebody's personalities, some people, and we might be different on this.
• 1:06:11
  I love the lack of planning on a vacation or a new adventure.
• 1:06:16
  That gives me energy.
• 1:06:17
  For her, once it's planned, then she can relax and be excited about the adventure.
• 1:06:25
  Neither is right or wrong.
• 1:06:26
  There are different ways to get energy.
• 1:06:28
  Right.
• 1:06:29
  So let's say there's new plans or systems, or even if I'm asking her to change the way those having a planned time allows her to relax and know we don't have to do it except that time.
• 1:06:40
  I get excited by talking about that.
• 1:06:41
  Even if it's somebody asking me to do it, like, that's a fun thing to talk about.
• 1:06:45
  Like, Hey, what if you start pushing the kids across?
• 1:06:48
  I bought one of those sleds they use in workout gyms and I put the kids on it and I'd push them across.
• 1:06:52
  And I call it my Uber ride.
• 1:06:53
  So I was asking for money at the end.
• 1:06:55
  They never pay me anything.
• 1:06:56
  But I push them across.
• 1:06:57
  And it's like a fun way for them to see me doing something working hard.
• 1:07:00
  Like it is hard to push all three of them on the sled.
• 1:07:02
  It's on grass.
• 1:07:03
  They get to see me work hard.
• 1:07:05
  It's fun kind of mixing in work out with during the day.
• 1:07:08
  If someone had that idea for me, I'd be excited.
• 1:07:10
  They're like, hey, why don't you try this?
• 1:07:13
  Some people may not get excited by that, right?
• 1:07:15
  Or they want it at a certain time when they're in a framework.
• 1:07:18
  Oh, you're giving today a speech.
• 1:07:20
  If you can share who's going to be there, what is this about, like, in 30 seconds, and then you can go through the speech.
• 1:07:27
  I'll just summarize the speech.
• 1:07:28
  Who's going to be?
• 1:07:28
  Current intern.
• 1:07:29
  High school hustle intern.
• 1:07:30
  They provide this really fresh perspective that I enjoy having around of a young, open mind that's 22.
• 1:07:37
  They say yes to whatever.
• 1:07:39
  Like, if I'm like, hey, I need my butt wiped.
• 1:07:41
  Okay.
• 1:07:42
  What kind of tissue?
• 1:07:43
  Like, they're just ready to go on little random stuff.
• 1:07:46
  So, like, today we have the event.
• 1:07:47
  We have these books that need to get picked up and put down there.
• 1:07:50
  Like, he's going to be doing the worst jobs at the event.
• 1:07:52
  Like, he's going to have to tell people, no, you sit, don't, you're not allowed to sit here, move out, stage them.
• 1:07:57
  Like, all these little things for the nonprofit, for anything, they just take care of.
• 1:08:01
  Why an incredible executive assistant cannot take care of all that stuff?
• 1:08:06
  And she's there all the time.
• 1:08:07
  It's a really good challenge.
• 1:08:09
  And it's worth looking into.
• 1:08:11
  Like, I have the virtual assistant that's doing that all the time everywhere digitally.
• 1:08:15
  No, but it's not in person.
• 1:08:16
  She's not there, right?
• 1:08:17
  Yes.
• 1:08:17
  Yes.
• 1:08:18
  there's something about and I may be wrong on this I'd love to dig in further their willingness of like they're all kind of these fraternity college guys that are just used to doing the sh** thing ever and they never think twice about it most adults I've met over 30 give you like the eye roll even amazing ones
• 1:08:35
  Those are the wrong people, in my opinion.
• 1:08:37
  So once you say he needs to do this job, which is to tell people where to sit, I don't see how that is a job.
• 1:08:46
  It is for you and for me.
• 1:08:48
  But how is that a job for another person that is literally organizing the event?
• 1:08:54
  let's go, let's go to the reason that I think it's, that's a really good point.
• 1:08:58
  They bring a fresh young perspective of how college kids are thinking now that's changes.
• 1:09:02
  And it's fun for me to get into that.
• 1:09:04
  And this youthful open mindset, it's been giving back.
• 1:09:08
  It's been amazing to see the trajectory increase for these, these students after spending six to nine months with me and how, how much they just grow and take off.
• 1:09:16
  And I like being tied in these college networks of like,
• 1:09:20
  They tell me about these amazing people.
• 1:09:21
  I meet these amazing humans that are at this interesting inflection of their life, going from a child to an adult, going from a student to a professional.
• 1:09:31
  I feel I benefit in my neuroplasticity being around that.
• 1:09:34
  Fantastic.
• 1:09:35
  I think that what you are mixing here is that.
• 1:09:38
  In order for you to get that, now all of a sudden they need to be your...
• 1:09:42
  to-do list boy i don't understand how that that even mixes yeah how why is that even connected so a different story would be you know what i'm gonna have a intern that is is coming with me everywhere i go he's gonna he's gonna be filming me he's gonna be recording and i get to experience everything that you just said right now yeah
• 1:10:04
  The film?
• 1:10:05
  He's not going to be the guy that is going to be in charge of my to-do list.
• 1:10:09
  That's going to be my assistant.
• 1:10:11
  He's going to be doing the doings, thinking the thinking, organizing the most important things.
• 1:10:16
  Because I think that you don't realize the amount of energy that you, Peter, you waste on having to say things that are obvious to these people.
• 1:10:25
  That a great assistant would be already in advance, already fixed it.
• 1:10:31
  She already did it.
• 1:10:32
  Or he already did it.
• 1:10:33
  You know why I think you're right is because this amazing girl from, who's our kind of around all the time, she is always two steps ahead.
• 1:10:41
  Always.
• 1:10:41
  That's the only way that it should be.
• 1:10:43
  You're right.
• 1:10:43
  And again, what I noticed, what I noticed is that they are not one step ahead.
• 1:10:49
  Almost never.
• 1:10:51
  And they are, in fact, they are one step behind waiting for Daddy Peter to tell them what to do.
• 1:10:56
  And you said it in your initial statement.
• 1:10:58
  It's like, these are great because these people, they will do anything I tell them.
• 1:11:03
  And I'm like, first of all, that is a very bad statement from a person that is leading.
• 1:11:08
  You are a leader.
• 1:11:09
  You are not a manager.
• 1:11:10
  You want to be a leader.
• 1:11:11
  You want to just suit.
• 1:11:12
  We are leading the way we are going in this direction.
• 1:11:15
  But you figure everything out.
• 1:11:17
  I don't want to have it.
• 1:11:19
  a say in how do we get there what needs to happen how what are the how to solve the problems you want my help i'm here you want to brainstorm cool do you want to do you want a second opinion awesome the recording's a great idea everything you're saying is right and i agree i have 12 years with someone who's not local that does everything online we did a new thing i don't want to be an email so i deleted email off my phone
• 1:11:40
  And she brings proactively only the urgent and important things.
• 1:11:44
  Everything else she takes care of.
• 1:11:45
  And I get on email ideally once a week.
• 1:11:47
  I love it.
• 1:11:48
  It's a huge, and it's because of buyback your time.
• 1:11:49
  Huge breakthrough.
• 1:11:50
  I think that said it in the book or had the idea.
• 1:11:52
  And I was like, I'm going to do this.
• 1:11:54
  That's been powerful.
• 1:11:55
  I've also felt the nanny that's just like,
• 1:11:57
  It's unbelievable.
• 1:11:59
  She raises the bar, right?
• 1:12:01
  Reminds you that there's, as you said, there's always someone out there and we deserve it.
• 1:12:05
  You're right, I think, on this person as like restructuring what they are, which because they're already with me, they should be recording.
• 1:12:12
  It's a great idea.
• 1:12:13
  It's a really good idea.
• 1:12:14
  Okay, I want to come back to that.
• 1:12:16
  It's a good follow up.
• 1:12:18
  speech sold the business tried to go internal to like well what do i want to do with my time now and it was like i could start a new business i bought one from bankruptcy it was in my old space it felt like i was walking through quicksand trying to do that like i couldn't move i couldn't send an email i was just like it felt like groundhog's day every day i like couldn't operate did it for three four months we sold the business you know barely sold it i was going to just shut it down and lose money and then i found a guy who bought it and i gave him a loan i'm
• 1:12:45
  So I was like, what gives me energy?
• 1:12:47
  I want to chase energy.
• 1:12:48
  What gets me excited?
• 1:12:49
  And so I started doing all the self-work and I was like going in and I realized, man, high school is really a powerful time because I was in high school during kind of 2000, 2008, went to college.
• 1:12:58
  That was senior year.
• 1:12:59
  Like this key part was like the world blowing up financially.
• 1:13:03
  My dad had a business.
• 1:13:04
  It went bankrupt.
• 1:13:05
  He had to shut it down.
• 1:13:06
  You know, when I'm senior in high school, it's like, man, that had a huge impact.
• 1:13:11
  And I went into the dark
• 1:13:12
  You know, you could call it your basement or your closet, right?
• 1:13:15
  It's a subconscious where it's holding you back.
• 1:13:17
  And it's like you shine a light on it and suddenly you're free.
• 1:13:20
  And it was hard, painful, uncomfortable thing to go through.
• 1:13:23
  And I have an amazing dad.
• 1:13:25
  You know, he just hard climate, blah, blah, blah.
• 1:13:28
  Lots there.
• 1:13:29
  So I worked through that and I realized, man, how cool would it be if I had a program in
• 1:13:34
  high school that helped me flex this muscle and see this path to create my own independence, even if the whole world's financially falling apart.
• 1:13:42
  And it will make me think more clear and free and, you know, open-minded if I can go make a couple grand on my own.
• 1:13:47
  In my case, I made $30,000 profit.
• 1:13:49
  So did my partner throw in dance parties.
• 1:13:51
  I link up with
• 1:13:52
  This amazing dude who sold a few software businesses and we create this high school hustle.
• 1:13:56
  It was just our ideas on a napkin.
• 1:13:58
  So we both donated money.
• 1:13:59
  We hired an amazing 28-year-old, like you said, always a step ahead.
• 1:14:03
  He just kills it.
• 1:14:04
  He is our day-to-day executive director.
• 1:14:06
  It's his job.
• 1:14:07
  He declined us on the job.
• 1:14:08
  He's like, no, I'm going to go be a real estate developer.
• 1:14:10
  No.
• 1:14:10
  He just kept saying no to doing the job.
• 1:14:12
  Finally, he took the job.
• 1:14:13
  He's very religiously inclined.
• 1:14:15
  So he's praying on it.
• 1:14:17
  You know, finally said, okay, God wants me to do this.
• 1:14:19
  So he joins and we're just making this stuff up.
• 1:14:21
  You know, like I'm kind of expecting it to fail.
• 1:14:24
  Just, you know, just like everything I start, you just realize it is a good shot.
• 1:14:28
  It's going to fail.
• 1:14:29
  Fast forward all of that to today.
• 1:14:32
  We have an event.
• 1:14:33
  We had 2,100 kids across the state of Indiana sign up.
• 1:14:37
  One full-time employee, this guy Hunter.
• 1:14:39
  2,100 kids sign up.
• 1:14:41
  Of which, let's say 500 made money.
• 1:14:44
  You know, they made $100, $400.
• 1:14:48
  The top 100 or so kids competed in our first competition.
• 1:14:51
  So the first January to May, they just tried to go make some money.
• 1:14:55
  Just learn something.
• 1:14:56
  You know, cut a lawn, do nail polish for a girl, a guy, whatever it is.
• 1:15:02
  Just do something.
• 1:15:03
  Then find your favorite one to do and don't take a summer job.
• 1:15:07
  Be the summer job.
• 1:15:08
  Create your own job, your own hustle.
• 1:15:10
  So June 1 to August 1, you pick your best hustle and you do it.
• 1:15:14
  So we had like a couple hundred kids, 150 kids really involved in the hustle.
• 1:15:19
  I don't think I've asked you this.
• 1:15:21
  Guess how much revenue they generated in 60 days?
• 1:15:23
  The like top, let's call it 100 kids.
• 1:15:28
  So $925,000 was roughly generated by these kids in 60 days.
• 1:15:31
  This is the mind blowing one I didn't know.
• 1:15:33
  So of which the top like 10 or 15 generated 400,000 of that, right?
• 1:15:39
  These high school students, $400,000.
• 1:15:41
  So we're like, all right, let's throw a big event, invite their parents, like honor them and this cool stuff.
• 1:15:46
  Oh, by the way, the big motivation for this summer competition is we're going to give them $100,000.
• 1:15:50
  Top 10 kids get 10 grand each.
• 1:15:52
  So we give away $100,000.
• 1:15:53
  We've got 350 people that signed up to come.
• 1:15:55
  Teachers, parents, students, donors.
• 1:15:57
  How many people?
• 1:15:58
  350.
• 1:15:58
  350.
• 1:16:01
  350, I got this random idea of like, wait, why don't we match the best kids with the current best business people?
• 1:16:07
  So we reached out.
• 1:16:08
  A lot of them don't, you know, we had a hundred thousand donated by top business people that gave five to $10,000.
• 1:16:14
  And so we invited them.
• 1:16:15
  We said, hey, as part of a thank you,
• 1:16:18
  We're going to do a VIP hour with the governor and, you know, our top business people slash donors with the top 10 or 15 students.
• 1:16:25
  And it's going to be a speed dating meet each other.
• 1:16:28
  So it's like little Pablo 16.
• 1:16:30
  He's going to meet 46-year-old Pablo, you know, and you're going to connect at this age similar to how you already met them.
• 1:16:36
  So we're doing that at 4 to 430.
• 1:16:39
  And then 445 to 6 is like basically honor the 10.
• 1:16:42
  They don't know that they won.
• 1:16:44
  They just know they're in contention.
• 1:16:46
  But they know that they're going to do the speed dating, so they know that they won.
• 1:16:49
  They know we're giving all 15.
• 1:16:51
  We're bringing 15.
• 1:16:53
  So they know they're in contention.
• 1:16:54
  From those 15, they don't know who are the 10?
• 1:16:56
  Got it.
• 1:16:57
  During the summer competition, this was really important to me.
• 1:17:00
  We don't show you where you are on the leaderboard.
• 1:17:02
  We show you who's above and who's below.
• 1:17:05
  That's it.
• 1:17:05
  Got it.
• 1:17:06
  So you know who's on your heels and you know who's at.
• 1:17:08
  So they're going to go to this VIP.
• 1:17:09
  They get to meet, whether or not they get the money.
• 1:17:11
  Then we're going to give away $100,000 to 10 different students.
• 1:17:13
  We're going to honor all the students, some of the mentors, talk about our goal next year.
• 1:17:17
  Our goal next year is to create, have kids generate $10 million in revenue next summer and to expand to like five states or nationwide, depending on the locations.
• 1:17:27
  Next year?
• 1:17:28
  Next year.
• 1:17:29
  Yeah.
• 1:17:29
  In 2026.
• 1:17:29
  Yeah.
• 1:17:31
  So we're launching all this.
• 1:17:32
  And I was, so the speech, I was like, well, what do I want to say?
• 1:17:35
  I don't want to be boring.
• 1:17:36
  It's got to be sub two or three minutes.
• 1:17:38
  And it's like, what's the point that's important?
• 1:17:40
  And it comes back to flip, to flipping.
• 1:17:43
  So instead of talking about you did great and congratulations and you're the future, blah, blah, blah.
• 1:17:49
  Yawn, yawn, yawn, boring.
• 1:17:51
  I'm asleep.
• 1:17:53
  Right?
• 1:17:54
  Throw it all out.
• 1:17:56
  And thanks to Pablo already contributing.
• 1:17:58
  I'm going to start with, I'm going to come and say, I'm Peter Sertz.
• 1:18:01
  I'm a failure.
• 1:18:02
  And you're a failure.
• 1:18:03
  We're all failures.
• 1:18:05
  And today, we're going to flip it.
• 1:18:07
  We're going to celebrate failures.
• 1:18:09
  And I'm going to give you two short stories on failures.
• 1:18:12
  The first story is about Henry Ford, who at 13 started fixing washes as a hustle.
• 1:18:18
  By 16, dropped out of high school because he was dyslexic and struggled.
• 1:18:22
  And then at 37 years old, he started Detroit Automotive Company in 1899.
• 1:18:28
  You haven't heard of it, because by 1901, it was bankrupt.
• 1:18:31
  It completely failed.
• 1:18:32
  But
• 1:18:33
  He learned an important lesson.
• 1:18:34
  You can't sell high-priced cars and give low-quality cars.
• 1:18:38
  And he thought, what if I flipped it?
• 1:18:40
  What if I provided the lowest-cost cars available to anyone?
• 1:18:44
  Well, he had to think creatively, and that's how he came up with the assembly line to do it faster and better.
• 1:18:49
  And forever, cars and manufacturing were changed because of Henry Ford.
• 1:18:53
  He then developed Ford Motor Company in 1904, and in 1908, it was the assembly line and Model T.
• 1:19:00
  That was the success, but nobody remembers Detroit Automotive Company.
• 1:19:05
  The second story on a failure is yours truly, Peter.
• 1:19:08
  I'm 37 years old today, but back when I was 16 and younger, I had tried every hustle.
• 1:19:14
  Lemonade stands, selling tickets, cleaning golf balls.
• 1:19:18
  Failure, failure, failure.
• 1:19:20
  By high school, I had dozens of failures in my hustle experiences.
• 1:19:25
  And then I helped the student government throw dance parties.
• 1:19:28
  And we made a lot of money for the school.
• 1:19:30
  So I thought, why don't I try this on my own?
• 1:19:33
  And a partner and I threw our dance party.
• 1:19:37
  I put my life savings of $1,000 up to rent a gym.
• 1:19:40
  And we started flyering to try and get kids there.
• 1:19:43
  And we had a lot of fear that we would have no one show up and we'd be failures.
• 1:19:47
  But guess what?
• 1:19:48
  Over 1,000 kids showed up and we made $5,000 profit on this first event.
• 1:19:52
  And it was a huge unlock in my mind that when you get over that fear of failure, you can do some really cool stuff.
• 1:19:59
  This led to college when I was a student and in student government, and we wanted to track the buses in the cold Indiana University's winters.
• 1:20:08
  We ended up tracking the buses with software, trying to create software.
• 1:20:11
  It failed.
• 1:20:12
  But in that failure, we met a software engineer who became a partner, and he helped us redevelop the whole thing.
• 1:20:19
  and really improve the product.
• 1:20:21
  So I went to a full-time job.
• 1:20:23
  I quit.
• 1:20:24
  Again, failure.
• 1:20:26
  One year into the job, when everyone stays two years, moved into grandma's house.
• 1:20:31
  Failure, right?
• 1:20:33
  Tick this path that everyone says, what's he doing?
• 1:20:35
  And went full-time on the business.
• 1:20:37
  We were able to actually sell that business in 2019 to Ford Motor Company.
• 1:20:41
  And Henry and Ford and I are connected as two failures.
• 1:20:45
  The important thing to realize is,
• 1:20:47
  is these failures are like gold.
• 1:20:50
  Collect them, stack them, because they create your muscle.
• 1:20:54
  And as you get a stronger muscle to not have the fear of failure, you're going to be able to change the world in any way you can imagine.
• 1:21:04
  Oh, I love it.
• 1:21:05
  That was amazing.
• 1:21:07
  That was awesome.
• 1:21:08
  If I can share one thing that I would add is just say how much you sold the business for.
• 1:21:14
  The number?
• 1:21:16
  A hundred percent.
• 1:21:17
  So it's funny.
• 1:21:18
  He, the, my, the high school hustle intern did the first draft.
• 1:21:22
  He included it.
• 1:21:23
  My only thing is there's, there's two challenges.
• 1:21:25
  One, I'm not supposed to per our contract say it now.
• 1:21:29
  Yeah.
• 1:21:29
  You know, if anybody Googles, they can find a public document where we had to ask for the money we were owed.
• 1:21:36
  And so had to get lawyers involved.
• 1:21:38
  So it's out there public.
• 1:21:39
  I don't know if that changes it.
• 1:21:41
  Let me ask you, but when a public company buys another company, that number gets disclosed.
• 1:21:47
  Only if it's over.
• 1:21:48
  No, only if it's over.
• 1:21:51
  It's 70 or 100 million dollars.
• 1:21:53
  Like, I'm not uncomfortable to share it.
• 1:21:54
  There's whatever.
• 1:21:56
  No, I understand.
• 1:21:56
  I understand that.
• 1:21:57
  Maybe you don't want to share that, but maybe, okay, I would maybe just create much more of a mic drop moment.
• 1:22:05
  You know that at the beginning you're, pause it.
• 1:22:07
  Pause it a little bit more because that's when you bring the two stories together.
• 1:22:11
  You say it.
• 1:22:12
  But if you just pace it a little bit more, a little bit longer, and by this date, I sold the business to Ford Motor Company, because that's the first time that you're mentioning Ford Motor Company before.
• 1:22:24
  Yeah.
• 1:22:24
  After you mention it.
• 1:22:26
  Yes.
• 1:22:26
  So give us space.
• 1:22:27
  We sold the business.
• 1:22:27
  Yeah.
• 1:22:28
  Two for more companies.
• 1:22:29
  And maybe you can say something like I had the event where I became financially independent or something like that, if you don't want to say the number.
• 1:22:40
  But I think that it's important for kids to...
• 1:22:43
  Just imagine, they are 16, 15, whatever.
• 1:22:48
  In their mind, a million dollars is impossible for 99 of them.
• 1:22:53
  And when you are saying that you made whatever, 10 million, 20 million, 50 million, I don't know, the company sold for whatever.
• 1:23:00
  Again, if you cannot disclose that number, then don't do it.
• 1:23:03
  But at least saying...
• 1:23:05
  that you became financially independent or whatever, I think that that would also create a little bit more, I don't know, just a comment, just a comment.
• 1:23:14
  But if not, just leave more space for the punch of connecting Peter with Ford.
• 1:23:19
  I'm going to say- I love it.
• 1:23:21
  That was great.
• 1:23:22
  That was a great, great speech.
• 1:23:24
  I can prove that communism-
• 1:23:27
  Will always fail.
• 1:23:28
  How do you know that?
• 1:23:29
  Maybe this time is going to be different.
• 1:23:31
  In a way that other people will actually get.
• 1:23:35
  Like in a way you could go tell your grandmother.
• 1:23:36
  Your countryman, Vilfredo Pareto, Pareto's principal, he realized, do you know the two examples when he realized 80-20 rule?
• 1:23:46
  I don't remember.
• 1:23:46
  It was, he's in Italian, in Italy, he's Italian.
• 1:23:50
  It was the peapods, the most productive 20% created 80% of total peapods.
• 1:23:56
  Then he noticed 20% of families owned 80% of the farmland in Italy.
• 1:24:02
  And he realized, right, what is communism, right?
• 1:24:05
  You think CCP, the old phrase is, you need to cut the wheat.
• 1:24:09
  You don't want one that's taller than the others.
• 1:24:12
  It's trying to artificially make them the same.
• 1:24:14
  And what I've seen even in these students is, now we have two goals, right?
• 1:24:18
  The mission is to awaken the next generation of entrepreneurs.
• 1:24:21
  And there's really two parts of that awakening.
• 1:24:24
  One is the scared little kid, just go and help him make $100 or $1,000.
• 1:24:28
  He's free.
• 1:24:29
  The other piece is taking the kid, the Pablo, that's already making $5,000 and help him make $50,000.
• 1:24:34
  start hiring employees, right?
• 1:24:35
  There's two different kind of components that we notice in the most power.
• 1:24:38
  But those kids who are five grand making 50, they are unbelievable.
• 1:24:43
  I mean, you met one of our 10 winners.
• 1:24:45
  He raised $775,000, including investors like you and me.
• 1:24:49
  Unbelievable.
• 1:24:50
  They are the example of 80-20 rule and Wilfredo Pareto,
• 1:24:56
  And they are the opposite of the communists, which they want equal outcome.
• 1:24:59
  You don't want someone rising above, right?
• 1:25:01
  We need to cut everything off to be the same height.
• 1:25:04
  That's the clear explanation that just clicked in my head, right, of this example of why is America so incredible?
• 1:25:11
  Well, it's because we push up that 20%.
• 1:25:14
  We push up these students, these men and women that are going to go change the world.
• 1:25:19
  We don't try and fight the fact that they are the crazy producers.
• 1:25:24
  Now, the ultimate irony in all of this is many of them are suffering from childhood, being poor, trouble, whatever it is.
• 1:25:31
  But they're feeding the capitalistic machine, which we all benefit from.
• 1:25:35
  But they're actually just as much a slave as the lowest level person in the company.
• 1:25:39
  because they're driven by this need to go deliver for the machine.
• 1:25:41
  It's kind of a separate topic, but it's so funny that America says, hey, Pablo, you're a 17-year-old and you just made five grand.
• 1:25:48
  Let's make you 50 grand.
• 1:25:49
  Let's help you do it.
• 1:25:50
  And then by the time you're 40, you're making $50 million.
• 1:25:53
  We're just lifting that up, and that's why we can progress so rapidly as a society, and that's why communism will always fail.
• 1:26:01
  And are you going to share that in the event, or what are you going to do?
• 1:26:04
  No, no, no, no.
• 1:26:05
  Part of my belief is, the thing excites me most is, if you can take a kid that's never made a dollar, never thought, because he's never asked questions in school, right, has parents always telling them what to do, and you can open their mind to say, oh my gosh, I see, this is someone's problem.
• 1:26:21
  I see it as an opportunity.
• 1:26:22
  I'm going to turn it as a chance to make $10,000 this summer.
• 1:26:25
  My belief is they will be very hard to brainwash with poor philosophies, psychology, bad jobs, bad bosses, because they've been broken.
• 1:26:35
  I was broken as an employee at 17 years old, 18 years old during the dance parties because I was having fun.
• 1:26:40
  I was making what felt like F you money, right?
• 1:26:43
  It felt like I was that million dollars, like 30 grand cash profit feels like a millionaire in high school.
• 1:26:49
  You know, especially when I had nothing and I could suddenly take my girlfriend on dates.
• 1:26:54
  I could suddenly, I paid for a trip to Europe.
• 1:26:56
  I paid for all of my expenses through college.
• 1:26:57
  My grandparents were super generous and set aside money for the tuition.
• 1:27:00
  So I like, I was set.
• 1:27:02
  It rewired my brain where you can't then come to me and say, okay, here, I'm going to give you 80 grand a year, you know, sit in your box, stay in your cage.
• 1:27:11
  It doesn't work.
• 1:27:12
  You can't.
• 1:27:13
  It's just, it doesn't.
• 1:27:15
  And so my belief is if you want to change the world, right, it's changing their brain to not have the fear to see opportunity, others' pains as opportunities and to then get, build that muscle to where they're set free and they can create a nonprofit, a business, whatever it is.
• 1:27:30
  If you put your students, the students that are in high school hustle, if you do this test with them, wouldn't you find that there is a clear 80-20 that most of the winners, I'm not talking about just the 10 winners, I'm talking about like the top 20% of the students, they belong to, let's call it most of the time, to just one single characteristic.
• 1:27:50
  And the reason why I'm saying this is because if I connect what you share about you and your wife, and again, maybe this might be a bad example, that she needs to have this certainty.
• 1:27:59
  She needs to have X, Y, Z.
• 1:28:01
  Now, to go back to when you were 15 years old, this might have been super helpful for you, but because she's totally different personality.
• 1:28:09
  It's a really good question.
• 1:28:11
  So, and this is where I try and release my judgment.
• 1:28:13
  Yeah.
• 1:28:14
  So my roommate in college is the exact opposite of me.
• 1:28:19
  Guess what profit he made in high school?
• 1:28:22
  Guess what he came to college with profit?
• 1:28:23
  He cut lawns.
• 1:28:25
  Ah, a lot of money.
• 1:28:26
  $30,000.
• 1:28:28
  and my wife are the same personality, same Myers-Briggs type.
• 1:28:32
  Why do I release this judgment?
• 1:28:33
  Because now, didn't have employees.
• 1:28:35
  Maybe he had one part-time.
• 1:28:37
  He'd put his head down and he would cut those dang lawns.
• 1:28:40
  I joke with him to this day because on his resume, it said like to work hard, was his resume of his business.
• 1:28:47
  He put in thousands of hours to achieve $30,000 profit.
• 1:28:51
  It's amazing.
• 1:28:52
  So proud.
• 1:28:52
  And it's part of why he's such a successful dad, professional, you know, private equity guy, blah, blah, blah.
• 1:28:58
  I put in like $150,000 and I had a blast.
• 1:29:02
  I mean, these were banger parties.
• 1:29:04
  Fog machines, DJ, everything.
• 1:29:06
  We both ended up at $30,000 profit.
• 1:29:09
  And I say that of like, now would I take his path?
• 1:29:11
  No way.
• 1:29:12
  Would he actually want to take my path?
• 1:29:14
  Like that wasn't the kind of thing he was into or would have fun with.
• 1:29:17
  I say that as like truly unleashing this potential of each type.
• 1:29:21
  Like if I had gotten my wife to do that in high school, what could she be doing?
• 1:29:25
  When you combine her skill within a lack of fear of failure.
• 1:29:29
  Now, I do agree with you on Myers-Briggs in certain scenarios.
• 1:29:31
  Like if you look at Bitcoin, the Bitcoin investors have similar traits to us of this intuitive living in the future to understand that.
• 1:29:39
  Yeah, that's just, but that's a Bitcoin.
• 1:29:41
  But showing up every day and cutting the lawn is not something I would excel at.
• 1:29:45
  I think that eventually you would like to have, might be beneficial to have these tests to understand and collect the data to see, is there any kind of tendency that you can clearly see?
• 1:29:57
  As a tendency, of course, we'll always have exceptions like, oh, look, people that are like this, they tend to have, 80% of the time they tend to hire employees.
• 1:30:06
  80% of the time they tend to be in the top 2%.
• 1:30:09
  Whatever.
• 1:30:09
  Everyone's obsessed with this stuff.
• 1:30:11
  And I spend a lot of time reading kids' books thinking about it.
• 1:30:13
  One, dyslexia is a huge sign of outperformance.
• 1:30:17
  You know, it comes back to the kind of C students end up hiring A and B students.
• 1:30:20
  Here's an interesting one, though.
• 1:30:22
  Two people, Michael Saylor, Warren Buffett.
• 1:30:26
  What similarity do they have sub-18 years of age?
• 1:30:30
  What similarity?
• 1:30:31
  Yeah.
• 1:30:31
  What did they both do well?
• 1:30:33
  Yeah.
• 1:30:34
  They read a lot.
• 1:30:35
  That is true.
• 1:30:36
  They both read a lot.
• 1:30:37
  They both were all-star newspaper delivery boys.
• 1:30:40
  Michael Saylor was, and it was in the podcast.
• 1:30:42
  Number two.
• 1:30:43
  Dayton, Ohio, number two.
• 1:30:44
  His mom thought he should be number one delivery boy.
• 1:30:47
  Warren Buffett uses it as his prime example of running his delivery route.
• 1:30:51
  And I look at that and I think, wait a minute.
• 1:30:53
  This is a great equalizer.
• 1:30:54
  Like give kids the opportunity of, and we're looking next year of rolling out, we call them newspaper business models, plug and play where they still have to sell their business, deliver the product, collect money.
• 1:31:04
  But we at least help them have a basis like the newspaper routes.
• 1:31:08
  I don't know the story of Warren, but Michael Saylor, what he mentioned in that podcast that was really game changer for him is that his mother just believed that he was the gold.
• 1:31:19
  Yeah.
• 1:31:20
  He that he was just going to change the world.
• 1:31:22
  And I think that that created a very, very deep imprint in his psyche or in his beliefs that is like, OK, that might be one of the reasons why he didn't give up in 2020 and just close the business and distribute the money to the shareholders.
• 1:31:38
  You're right.
• 1:31:40
  And a dream without execution is a delusion, right?
• 1:31:44
  So her dream would have just been a delusion had he not started to execute both for himself and maybe for her, maybe not,
• 1:31:53
  by something like becoming the number two newspaper delivery boy in Dayton, Ohio at 16 years old.
• 1:31:59
  Yeah, but what I'm saying is, and this now goes to parenting, is, and this might be just one example of one person, I just happen to believe, this is just my belief, that we run a lot with our limiting beliefs or our expansive beliefs, positive beliefs.
• 1:32:19
  And we as parents, we as society, we get to make a big dent in those beliefs in early childhood.
• 1:32:27
  So much better to fake it until they make it rather than projecting our own insecurities, our own failures, the things that we gave up.
• 1:32:38
  That's to me a real failure, even though society calls failures to things that, oh, you just lost the first quarter.
• 1:32:46
  That's a failure, right?
• 1:32:49
  It would be a failure if I give up after the first quarter.
• 1:32:52
  No, I'm just going to keep going.
• 1:32:53
  The game is not over.
• 1:32:55
  I love all that.
• 1:32:55
  And I think tying this back to the high school hustle a little bit, a kid may not have that.
• 1:33:00
  They don't have parents.
• 1:33:01
  They're adopted, whatever.
• 1:33:03
  So part of this, what we're trying to do is through the high school system, have business owners raise their hands to say, I would be a mentor.
• 1:33:09
  Kind of like big brothers, big sisters, but it's a business mentor.
• 1:33:13
  And...
• 1:33:13
  So then we have a pool of mentors that are graduates of high school, parents of high school, whatever.
• 1:33:17
  So then Pablo may have kids that are not going to happen.
• 1:33:20
  Just, you know, whatever.
• 1:33:22
  Have zero interest in business at all or making money or anything.
• 1:33:25
  Dr. Patrick goes after this.
• 1:33:27
  And he sees this feisty young kid, Pablo, that's so hungry, reminds him of himself.
• 1:33:32
  They build a special bond and relationship.
• 1:33:34
  So how did that happen?
• 1:33:35
  Well, when I bought my house, a 16-year-old showed up to cut my lawn.
• 1:33:38
  My quotes were all like $200 a week.
• 1:33:40
  I got a tough lawn to cut.
• 1:33:41
  He offers you 50 bucks.
• 1:33:42
  I'm like, heck yeah, do it.
• 1:33:44
  16.
• 1:33:45
  Yesterday, this 16-year-old just bought, is now 24.
• 1:33:49
  He just bought a restaurant that does $2.5 million in revenue and about $450,000 in profit.
• 1:33:54
  20 employees, some of whom have been there over 20 years working at the restaurant, and he's only 24 and he's now the boss, right?
• 1:34:01
  I believe in him.
• 1:34:02
  I introduced him to a bunch of investors.
• 1:34:03
  I invest in him along with a group.
• 1:34:05
  He raised the money to buy the business.
• 1:34:07
  You know, that is the full circle of what you're talking about, whether it's Michael Saylor, whether it's somebody believing.
• 1:34:12
  That person, Matthew, lost his dad in college.
• 1:34:15
  You know, he lost his dad at 20 years old.
• 1:34:17
  His mom has worked the same job for 30 years.
• 1:34:19
  He doesn't have that in his world, but he, through his hard work and showing up cheaper than everyone on the market, you know, met someone who believes in him.
• 1:34:27
  That's what should happen.
• 1:34:28
  It's a natural consequence of the world, and it's been happening for thousands of years.
• 1:34:33
  I just want to help systematize it to where it can happen in different communities, cities, and places all around the world.
• 1:34:40
  in a way that operates like a software company, not like these nonprofits that just want to be a bunch of employees.
• 1:34:45
  We have one employee.
• 1:34:46
  That's it.
• 1:34:46
  What's the plan to 10x the high school hustle organization?
• 1:34:52
  Because that's what you want to do, right?
• 1:34:53
  You want to 10x, to go from a million revenue to 10 million revenue.
• 1:34:57
  What's the plan?
• 1:34:58
  Yeah, so we did EOS and it was really helpful because Scott is amazing and he really leans into like, okay, let's just go, go, go.
• 1:35:05
  And I was like, well, how are we going to spread across the country?
• 1:35:07
  He's like, let's just send him.
• 1:35:08
  And I was like, dude, he can only go to one high school a day because lunches are only one per day.
• 1:35:13
  And I was like, and it's hard to get in.
• 1:35:15
  Like these high schools because of guns and threats and pedophiles, like they make it very hard to get in.
• 1:35:20
  Like it really is.
• 1:35:21
  And that's a good thing.
• 1:35:22
  I don't think it's bad to prevent people from being in.
• 1:35:25
  I'm excited to have you tear it apart because I've thought a lot about this.
• 1:35:30
  And it's really only two things.
• 1:35:31
  Which are?
• 1:35:32
  We call it newspaper models, which are like business models like the newspaper.
• 1:35:37
  That's one.
• 1:35:38
  And then the second one is basically finding, quote, a Pablo in Milwaukee, right?
• 1:35:43
  Or someone that's passionate about this, has had a lot of success, has financial wealth, and kind of knows the local environment.
• 1:35:49
  We want them to be the, you know, kind of leader.
• 1:35:52
  But any student in that city or state can start at their own high school and be president of High School Hustle.
• 1:35:58
  And there's three steps they do.
• 1:35:59
  Right.
• 1:36:00
  Step one is they get the Alumni Association to send out an email to all alumni that says, do you want to be a mentor to high school hustle?
• 1:36:08
  Just reply yes.
• 1:36:10
  If you're in business, own a business, you know, you're excited by this.
• 1:36:14
  So Alumni Association and parents get that email.
• 1:36:16
  If they say yes, we say yes.
• 1:36:18
  hey, step one is get the kids excited for the summer competition.
• 1:36:23
  Will you donate 10, 20, 50, 100 bucks, whatever you feel comfortable?
• 1:36:27
  Every dollar goes to the students of this high school.
• 1:36:30
  And step three is, you know, you hit the same group, right?
• 1:36:34
  So now the students have a group of mentors they can reach out to.
• 1:36:37
  Now there's a pot of money that's, you know, in...
• 1:36:40
  exclusively these students, this high school.
• 1:36:42
  Step three is, hey, the students have launched their hustles.
• 1:36:46
  Please go to this website to see all of the local hustles that you could be a customer of.
• 1:36:51
  Lawn cutting, nails, blah, blah, blah, blah, blah, filtered by the high school or the high schools you have interest in in your local area.
• 1:36:58
  And all of this we do through software as if we're a software company, professional service.
• 1:37:03
  That's how we launch with the Pablo in Milwaukee or wherever.
• 1:37:07
  You know, and that's one app.
• 1:37:10
  The other piece is like, so the newspaper models, this is the idea I get excited about is,
• 1:37:15
  There's so many people kind of like Amazon sellers that are like, some of them are really good at business or they've hacked something, but they haven't built like teams.
• 1:37:22
  And it's probably less, you know, actually you're an exception, but many Amazon people are like that.
• 1:37:26
  Well, there are a lot of these influencers on YouTube that literally just like have a business where they, whatever, let's say they're dryer vent cleaners.
• 1:37:33
  And they decided I'm going to record every dryer vent I do and put on YouTube.
• 1:37:36
  Well, they're now the number one source on all of YouTube for dryer vent cleaning.
• 1:37:40
  Like they have thousands of videos and they have half a million followers, blah, blah, blah.
• 1:37:44
  These guys are generally terrible about business, like horrible.
• 1:37:48
  They make like a hundred grand.
• 1:37:50
  They might have three employees.
• 1:37:52
  They're working their butts off.
• 1:37:53
  They just tell the employees record every video and they have, you know, they do like mediocre edit job and throw it up.
• 1:37:59
  Well, I met with one in Nashville just to learn about what he does.
• 1:38:02
  Really cool guy, hardworking, but just like, just like my high school hustle kids have more business sense.
• 1:38:07
  He just kind of stumbled into luck.
• 1:38:08
  Really great, really great guy again.
• 1:38:10
  And I asked him, I was like, what's your big goal?
• 1:38:12
  You have a question?
• 1:38:13
  Go ahead.
• 1:38:14
  Yes.
• 1:38:14
  The question is this kind of influencer, right?
• 1:38:16
  Dryer, cleaner influencer or hustle influencer.
• 1:38:20
  You are saying they're not very good business people.
• 1:38:22
  So would you say that their skill is to be an influencer?
• 1:38:25
  Yeah.
• 1:38:26
  I think it's just luck because they started doing it 10 years ago.
• 1:38:29
  And so now the algorithm, anytime, like the algorithm just sees them.
• 1:38:34
  If I search dryer vent cleaning, they're up because of their channel and their 10 years and the content and the amount they've put up and blah, blah, blah.
• 1:38:41
  I'm not an influencer.
• 1:38:42
  I don't know this stuff well enough.
• 1:38:43
  Because I'm saying it's not like a hot girl that's just really attractive.
• 1:38:46
  Are they a guru?
• 1:38:47
  Yes.
• 1:38:48
  Most of the time they are.
• 1:38:48
  So that's the answer.
• 1:38:50
  Most likely.
• 1:38:51
  The answer could be that most likely they are way better at being an influencer and making money like that, selling their courses or whatever, private sessions.
• 1:39:03
  In a couple examples of the same, they're not good at that.
• 1:39:06
  They're not good at anything.
• 1:39:07
  This guy, he's really good at dryer vent businesses.
• 1:39:10
  He's amazing at it.
• 1:39:11
  He's amazing at dryer vents, right?
• 1:39:14
  And he's got a five-person team and he has a dryer vent business.
• 1:39:17
  So what is the bad thing about that?
• 1:39:19
  You make 100 grand a year and you've got 150 grand tops and you're working really hard.
• 1:39:25
  And you've got.
• 1:39:26
  So here, let me expand.
• 1:39:27
  This will give you more context.
• 1:39:28
  I ask him, what's your dream in five years?
• 1:39:30
  He goes, well, I started this new consulting business where I teach people to start their own dryer vent business.
• 1:39:36
  Okay, cool.
• 1:39:36
  Shocking.
• 1:39:37
  How much do you charge?
• 1:39:38
  Selling their course.
• 1:39:39
  Guess how much he charges.
• 1:39:40
  Well, if he's smart, he would be charging a lot.
• 1:39:43
  If not, he, a lot.
• 1:39:45
  I mean, he would be charging a good amount.
• 1:39:47
  What's a good amount?
• 1:39:47
  Most likely he, I don't even know the business, so I cannot say, to be honest.
• 1:39:50
  $5,000 for the first year.
• 1:39:52
  To do what?
• 1:39:53
  To teach you to go from, I just got out of jail or I'm, you know, unemployed or I want to just start this.
• 1:39:59
  Yeah.
• 1:39:59
  There you go.
• 1:40:00
  Well, that's exactly what I said before.
• 1:40:02
  Their business becomes teaching you how to do the thing that they don't do anymore and they suck.
• 1:40:08
  But they become very good verbalizers, very good communicators about that.
• 1:40:13
  By the way, that's why we are selling our course of how to be a professional podcaster.
• 1:40:19
  There you go.
• 1:40:20
  Just buy it right there in the description.
• 1:40:22
  You're right.
• 1:40:23
  But a lot of these guys are too small.
• 1:40:25
  They're not in that.
• 1:40:26
  They're still running their business.
• 1:40:27
  That's still 80% of their attention.
• 1:40:29
  He will accept calls for the first year for $5,000.
• 1:40:32
  It might be $2,500.
• 1:40:33
  I can't remember.
• 1:40:33
  Yeah.
• 1:40:35
  for the first year.
• 1:40:37
  I think it's $2,500.
• 1:40:38
  So Pablo, he charges $2,500 and he'll answer your calls at 11 p.m., 10 p.m.
• 1:40:43
  He'll work through your problems, all this stuff.
• 1:40:45
  Guess what he charges year two?
• 1:40:47
  I don't know, nothing.
• 1:40:48
  Half.
• 1:40:49
  He cuts his rate in half.
• 1:40:51
  How many years he has been doing this?
• 1:40:52
  Two or three, something like that.
• 1:40:53
  I think he has, he said something like, he's not very good at pricing, but not very good at creating the right product at the right price, of course.
• 1:41:01
  Correct, correct, correct.
• 1:41:02
  Yes, yes, yes, yes, yes, yes.
• 1:41:04
  Totally agree.
• 1:41:04
  So here's my idea.
• 1:41:07
  We go approach 20 of them and we say, you're going to give us your course for free.
• 1:41:14
  You're going to allow these high school students to do the course for free.
• 1:41:18
  When the high school student passes your course to your liking, they are going to suddenly be on this high school hustle marketplace confirmed by Pablo, right?
• 1:41:28
  With a checkmark by Pablo's course.
• 1:41:30
  And we're going to funnel all of your leads from your website, YouTube, TikTok views into High School Hustle so that a local guy in whatever, Kentucky, can get a local high school kid who's passed the course via your feed and our platform to do the work.
• 1:41:50
  And you're going to collect 10%.
• 1:41:52
  High School Hustle is going to, you know, for your work, your effort, your course, blah, blah, blah, continue doing you.
• 1:41:57
  Yeah.
• 1:41:58
  And you can be available once a week, once a month for all these kids to answer questions to kind of help solve their problems in kind of a big group setting.
• 1:42:06
  Like, you know, 10, 50, 100 kids are on a call.
• 1:42:09
  And maybe, you know, you collect 10%.
• 1:42:12
  Maybe High School Hustle does 5 or 10% because then we actually can – all that funnels into the kids' million, 10 million, 100 million payout at the end of the year.
• 1:42:19
  Right.
• 1:42:20
  And the kid takes 80% in their pocket, right?
• 1:42:23
  It's their own business, their own distribution.
• 1:42:25
  So suddenly it's creating a newspaper model out of dryer vent, lawn mowing, car detailing, every single one.
• 1:42:33
  And it's the same beautiful model, the newspaper model created.
• 1:42:36
  did until, you know, Legacy Man is now dead and it doesn't exist anymore.
• 1:42:41
  These are the two things I want to focus all of our energy on.
• 1:42:44
  Let me ask you something.
• 1:42:45
  So you go one year forward and you distributed 10 million in prices.
• 1:42:50
  Sorry, they did 10 million in revenue.
• 1:42:53
  And that means that you are giving away a million in prices?
• 1:42:56
  Yeah, something like that.
• 1:42:57
  Where do you get that million?
• 1:42:58
  Great question.
• 1:42:59
  We're going to sell this package to, we're going to go out to 20 cities, 20 Pablos across the U.S. and say, oh, we've made all the mistakes we learned.
• 1:43:10
  Do you want our program?
• 1:43:11
  You do?
• 1:43:12
  Okay, great.
• 1:43:12
  You just need to commit $100,000.
• 1:43:14
  It can be your pocket.
• 1:43:15
  You can go fundraise it.
• 1:43:17
  You have a grant, whatever.
• 1:43:19
  Somebody who's been successful in a city or state that they're passionate about.
• 1:43:23
  Okay.
• 1:43:23
  You're going to try to recruit another Peter.
• 1:43:26
  Exactly.
• 1:43:26
  This person is as a sphere of influence.
• 1:43:29
  They're known in the community.
• 1:43:30
  They know people around the community.
• 1:43:32
  They can get into the pacers.
• 1:43:34
  They can get into in front of people.
• 1:43:36
  They can text or email their friends that are also.
• 1:43:38
  They're the ones that kind of commit to be our partner of at least $100,000.
• 1:43:43
  So explain what you mean a partner of $100,000.
• 1:43:46
  Yeah, we want to give a million dollars to kids.
• 1:43:49
  So we need 10 locations that will give $100,000.
• 1:43:52
  Indianapolis is one, $100,000.
• 1:43:54
  Done.
• 1:43:54
  So you mean they will try to raise $100,000.
• 1:43:59
  They will commit to it.
• 1:44:00
  Like if they can't, if they don't have enough money to kind of commit to it to say, hey, I can backstop it if I don't get the local fundraising, then we don't want to waste our time and energy.
• 1:44:08
  We're selling our knowledge and experience as a product.
• 1:44:11
  They don't need to pay us anything.
• 1:44:12
  They just need to contribute to their local group.
• 1:44:16
  Okay, let's take the negative perspective if everything goes wrong.
• 1:44:20
  I said, Peter, you got it.
• 1:44:22
  You saw me.
• 1:44:23
  I sold this business.
• 1:44:25
  I am in.
• 1:44:26
  Yes, yes, yes.
• 1:44:27
  I'm going to raise the money.
• 1:44:28
  And yes, yes, yes.
• 1:44:30
  I backstop it.
• 1:44:31
  No problem.
• 1:44:31
  But then I can walk away with no consequences, right?
• 1:44:34
  I was like, what if you could find Peters at 16 and build enough of a network and relationships around him that they come back
• 1:44:40
  and build awesome businesses.
• 1:44:42
  How long would that take?
• 1:44:43
  You know, by 25, they're doing cool stuff.
• 1:44:45
  You know, we would say, hey, man, you got to commit the 100 grand, right?
• 1:44:49
  And we know he's good for it.
• 1:44:51
  Whether or not he fulfills on going to raise and meet people and blah, blah, blah, at least we can say, hey, Louisville, we've got this money committed for your market.
• 1:44:59
  You know, go after it.
• 1:45:01
  Because we, I mean, we failed.
• 1:45:03
  Like, we failed.
• 1:45:04
  We only got into
• 1:45:05
  eight schools in person, I think, but we had 51 high schools represented because we started to get word out about the $100,000 and we started to use different ways to connect.
• 1:45:15
  And these kids signed up on their own and started competing on their own.
• 1:45:18
  So as long as we, our thought is, as long as we have this big competition, plus we give money to kids right away.
• 1:45:24
  So once you make like 400 bucks, we give you a hundred dollars towards equipment that we buy off Amazon for you.
• 1:45:30
  And then we're going to add, once you hire your first employee and you make revenue off of them, we do an extra $100, right?
• 1:45:36
  These incentives to get you over fear and get you a little more excited.
• 1:45:40
  And it shows you, it's like, okay, are you a level one player, kind of up to level 10 player.
• 1:45:44
  Our level 10 player is the ones that are making $10,000 or more in a summer, more than they could have made with a job.
• 1:45:50
  Okay, the question originally was like, how do you scale?
• 1:45:52
  And you're explaining how do you scale.
• 1:45:55
  And do you see the high school hustle having one employee?
• 1:46:01
  So we've hired some contractors that are just like virtual, that are ideally going to just support some of the stuff that might come up.
• 1:46:10
  Ideally, it's almost all software.
• 1:46:11
  Yeah.
• 1:46:12
  And it's just to come self-serve.
• 1:46:14
  Hey, I'm a student that wants to start high school hustle because I saw it on Instagram from my friend who made 10 grand.
• 1:46:19
  Okay, I launch at my school.
• 1:46:21
  I'm the president.
• 1:46:22
  Okay, what do you do as president?
• 1:46:23
  Form a club, get an email sent out to alumni association, right?
• 1:46:27
  We download it.
• 1:46:28
  We show you the email script.
• 1:46:30
  We show you what to say for the club.
• 1:46:31
  We show you what to put on your own resume because you're now president.
• 1:46:34
  Step one, done.
• 1:46:35
  Okay, step two, here's where they would donate money if you send an email to all the people who raised their hands and said they want to be a mentor.
• 1:46:41
  They send money to, we're using this group called Sagamore Institute.
• 1:46:44
  That's our 501c3.
• 1:46:45
  Okay, they send money to this and they, in the title, put this high school name.
• 1:46:49
  Okay, cool.
• 1:46:50
  Step three, we already have this.
• 1:46:51
  We already have the software built out of like a Craigslist of hustles.
• 1:46:54
  So then it's like, okay, every hustle that gets put in, whatever.
• 1:46:58
  The final one is like, okay, then some logistical stuff.
• 1:47:01
  Like, hey, we'll send you, we need an adult to say they're doing it, but we'll give you, bring one of these.
• 1:47:06
  Here's how you go get a local business person.
• 1:47:09
  Here's the message you send on LinkedIn.
• 1:47:11
  Ask them to bring $300 to a lunch and you give away that $300 at lunch.
• 1:47:15
  And here's a video of how we do it.
• 1:47:17
  So it just gives them the playbook.
• 1:47:19
  But we create a cool scoreboard that everyone, it feeds into.
• 1:47:23
  So everyone can see like Argentina as a country made $20 million on high school hustle, their students.
• 1:47:28
  Well, U.S. is at $100.
• 1:47:30
  Well, does that make sense per capita?
• 1:47:32
  I don't know.
• 1:47:32
  Let's think about that.
• 1:47:33
  It creates a fun way to look at high schools, countries, cities, states in a fun way to measure entrepreneurship of business.
• 1:47:41
  It's an index, right, of these kids.
• 1:47:42
  It's the future quality of their revenues.
• 1:47:45
  Like we talk about how to measure GDP, like it's one indicator of the sentiment, the knowledge, the lack of fear in these younger people in that place.
• 1:47:53
  I love it.
• 1:47:53
  How do you make this self-sustaining rather than dependent on the generosity of these entrepreneurs, successful people around the world?
• 1:48:04
  Beautiful question.
• 1:48:05
  I think it's the newspaper models.
• 1:48:07
  If we can clip 10%, if we actually provide real value where these kids have now courses and a content leader that's answering questions, helping make them up and running.
• 1:48:17
  So we're in the middle, right?
• 1:48:18
  So you've got content generator has the knowledge and content.
• 1:48:22
  But what do they not have?
• 1:48:23
  They don't have people that will go do the work, right?
• 1:48:26
  They can't service the whole United States or the whole world.
• 1:48:29
  Well, we bring...
• 1:48:31
  the labor force that's hungry, young, and willing to do it.
• 1:48:35
  We're the clearinghouse.
• 1:48:36
  I think of it like Apple.
• 1:48:38
  Apple is a monopoly on the internet, right?
• 1:48:40
  Any app that makes over a million dollars, they take like 30% of all revenue.
• 1:48:44
  We want to create the Apple Play Store of newspaper hustles, right?
• 1:48:48
  So it's an Apple app store.
• 1:48:50
  So I go on, I'm Pablo, I'm in Argentina.
• 1:48:52
  I'm like, oh, dryer vent sounds interesting, blah, blah, blah, blah, blah.
• 1:48:56
  Oh, you could be up and running in like, you know, a weekend doing the course, getting the certification, and then suddenly you're getting jobs.
• 1:49:03
  We could do it with girls and doing nails, right?
• 1:49:06
  Your nail painting.
• 1:49:07
  We could do...
• 1:49:08
  But just to simplify your answer, what you are saying is...
• 1:49:11
  I go, you find these influencers that have courses, they give those courses to the community for free, and they do an Ask Me Anything every Friday that gets recorded and uploaded and so on and so on to serve all the students around the world that chose that specific course.
• 1:49:30
  Once they finish, they get like a badge of certification that they finish that.
• 1:49:34
  And what you are saying is you take a cut of the revenue that that kid generated because they did that course, okay?
• 1:49:41
  And you're saying the creator also gets a cut.
• 1:49:43
  I want to clarify.
• 1:49:44
  If Pablo created his own hustle that we have no involvement in, we take nothing.
• 1:49:48
  It's all them.
• 1:49:49
  Great job.
• 1:49:50
  Hand clap.
• 1:49:50
  Pat on the back.
• 1:49:51
  If it's a hustle where they got, one, the certification from our content creator, but two, we brought in the customers.
• 1:49:59
  from their content-generated leads.
• 1:50:02
  So now, every time Pablo does a video on cleaning a car, and he's the biggest car-cleaning YouTube guy, he says, don't forget, my High School Hustle kids are certified in your local market.
• 1:50:14
  Check to see if you have a local one.
• 1:50:15
  Boom.
• 1:50:16
  It funnels through High School Hustle into his certified community that we've brought.
• 1:50:22
  We've created this whole community.
• 1:50:23
  Those individual deals, let's say they generate $150 cleaning a car,
• 1:50:28
  Okay, great.
• 1:50:29
  10% of that.
• 1:50:30
  5%, 10% something goes to the content creator.
• 1:50:32
  5%, 10% goes to High School Hustle and creates the funding.
• 1:50:35
  And this is for the lifetime of the competition?
• 1:50:40
  Or you think that, okay, this keeps going?
• 1:50:43
  If you keep getting booked by this platform that you guys are creating...
• 1:50:47
  We'll automate all of it.
• 1:50:49
  So like as long as it's on our platforms and we generated value for them, yeah, we'd probably do it.
• 1:50:54
  But if they go around us or find their own new platform or whatever else, like we're not.
• 1:50:58
  Yeah, good for you.
• 1:50:59
  Good for you.
• 1:50:59
  And I think realistically, a lot of people are like, well, what about these businesses taking off?
• 1:51:03
  It's like 99.9% of these businesses.
• 1:51:06
  will ultimately fail, just like all of my early hustles.
• 1:51:08
  It's the learnings and the growth, right?
• 1:51:11
  And the muscle of not having fear of failure.
• 1:51:13
  That's the value.
• 1:51:14
  No, but I got it.
• 1:51:15
  I got it.
• 1:51:16
  What you are doing is you are the marketplace.
• 1:51:18
  That's it.
• 1:51:18
  Where people can put their courses, where people can learn from those courses.
• 1:51:25
  That becomes a certified worker.
• 1:51:29
  in that niche, but in addition, you are providing the booking place for all the traffic from this content creator.
• 1:51:38
  Go and book here in the High School Hustle platform, the marketplace, and you get a cut every single transaction that happens there.
• 1:51:47
  And the creator also gets a cut of that.
• 1:51:50
  That's it.
• 1:51:51
  Nailed it.
• 1:51:51
  That is good.
• 1:51:52
  The only way I can explain it is Apple puts apps, content,
• 1:51:57
  And they charge every time somebody makes money on these apps.
• 1:52:00
  We're putting up content and we're charging for revenue generated through that.
• 1:52:04
  It's different.
• 1:52:05
  You think so?
• 1:52:06
  Yeah, because you have a booking platform.
• 1:52:08
  You have a learning platform.
• 1:52:11
  Learning platform here where you have teacher and students.
• 1:52:14
  This is a funnel.
• 1:52:15
  From here, a thousand people sign up.
• 1:52:17
  You're going to have a hundred people.
• 1:52:19
  Yeah.
• 1:52:19
  Yeah.
• 1:52:19
  or 500 people that become certified bookable people across different cities and so on and so on.
• 1:52:28
  And then you need to have, then the creator needs to send traffic.
• 1:52:32
  Now, I think that this eventually is going to, it could pick up like crazy because
• 1:52:38
  People, instead of saying like, oh, you know, back in the day, it's like, oh, yeah, why don't you sell it on Craigslist?
• 1:52:42
  People are going to be like, oh, did you hire them?
• 1:52:45
  Dude, go and hire people from HighSchoolHustle.org.
• 1:52:49
  Because I'm like, what is that?
• 1:52:50
  It's like, oh, dude, you can hire these incredible kids that are already trained into this.
• 1:52:54
  You end up paying way less and you contribute to this.
• 1:52:57
  And part of the money goes for the creator that is the girl.
• 1:53:00
  So now all of a sudden you have one platform where you can book all kinds of services,
• 1:53:05
  around the globe eventually.
• 1:53:07
  I think that is very good.
• 1:53:09
  I don't get that from Pablo.
• 1:53:13
  No, but I think that is very good.
• 1:53:15
  Now, what are you doing?
• 1:53:16
  Me?
• 1:53:17
  What do you mean?
• 1:53:18
  Day to day?
• 1:53:19
  Very simple question.
• 1:53:20
  I don't know why we need to stress about it.
• 1:53:24
  Which part am I doing?
• 1:53:26
  Sometimes I'm like, dude, English is my second language, not yours.
• 1:53:29
  Like, what are we talking about here?
• 1:53:30
  Related to high school hustle?
• 1:53:32
  Yes.
• 1:53:32
  Okay.
• 1:53:33
  I mean, where do you think these ideas come from?
• 1:53:36
  This is me like thinking through the problem from every direction.
• 1:53:39
  In addition to thinking, what else do you do?
• 1:53:42
  I'm directing.
• 1:53:43
  These ideas are a delusion unless they're executed on.
• 1:53:46
  So I'm directing the executor.
• 1:53:48
  I'm a visionary in EOS.
• 1:53:50
  That's probably the easiest way to explain it to you.
• 1:53:52
  This has all been like literally failing, failing, failing, failing.
• 1:53:55
  Let's say that right now you find it.
• 1:53:56
  Let's say that I am, right?
• 1:53:57
  And I live in whatever, Texas.
• 1:53:59
  I'm like, I want to do it.
• 1:54:01
  Do you have the whole process so I can sign up and commit and sign whatever I need to sign and so on and so on?
• 1:54:07
  Or not yet?
• 1:54:07
  The priority is where are the 10 markets we want to focus on?
• 1:54:11
  Who are the key people?
• 1:54:12
  That's interesting.
• 1:54:13
  Why not going in to create a software and then we go to try to find these people, no matter which market?
• 1:54:19
  Because right now you are.
• 1:54:20
  So if what is what is the limitation?
• 1:54:23
  Is the limitation the software?
• 1:54:25
  Is the limitation the markets?
• 1:54:27
  I want to explain what you're saying.
• 1:54:29
  Yes, we will have the software where a kid can say, I want to be a campus president and start high school at my high school.
• 1:54:36
  totally soft.
• 1:54:36
  But not only that one, then you need also the Peter and Scott, right?
• 1:54:39
  You need these two.
• 1:54:40
  Those guys, we will not need them in time.
• 1:54:42
  We need them this year.
• 1:54:44
  What you are saying is what you need is a kid that is going to take the job to be a president.
• 1:54:49
  And then that kid is going to be able to speak with the school.
• 1:54:53
  The school is going to send emails to try to raise money.
• 1:54:56
  But if they don't raise $100,000, which is a lot of money.
• 1:54:59
  Sorry, two different things.
• 1:55:00
  The school doesn't have to be $100,000.
• 1:55:02
  The school could be $5,000.
• 1:55:03
  It could be
• 1:55:04
  3,000, we don't care.
• 1:55:06
  That is a microcosm of its own.
• 1:55:09
  Think bottoms up, right?
• 1:55:10
  We don't want to be big government.
• 1:55:12
  One of our key values is decentralized, not deep state.
• 1:55:17
  So we don't want to be deep state big, truly.
• 1:55:19
  And we challenge each other on this.
• 1:55:21
  We're decentralized.
• 1:55:22
  A high school in Buenos Aires could start tomorrow.
• 1:55:27
  We will have it where the platform could start tomorrow.
• 1:55:29
  Their own ecosystem run.
• 1:55:30
  We don't care.
• 1:55:31
  Yeah.
• 1:55:31
  So then why do you care about choosing the 10 cities?
• 1:55:35
  Because we've seen, we tested going deep in a market and we saw how powerful it was for this state when you get somebody like Scott and Peter, even better Scott and Peter combined, pushing as well.
• 1:55:47
  Right.
• 1:55:47
  And the money.
• 1:55:48
  So the last thing is we want, we've announced we're going to give away a million dollars this year.
• 1:55:52
  Right.
• 1:55:52
  We want to make sure we can get there.
• 1:55:53
  I don't think we'll do that forever.
• 1:55:56
  I don't think we need Pablo's and Scott's and Peter's.
• 1:55:58
  I think we can find them.
• 1:55:59
  And, you know, that's nice to maybe have a role.
• 1:56:01
  Eventually, it'll be much more decentralized where it's just Pablo and Argentina launches his own high school.
• 1:56:06
  But we need a big money.
• 1:56:08
  We want a million or more dollars given high school students for sure.
• 1:56:11
  Like guaranteed.
• 1:56:12
  Bro, I love it.
• 1:56:13
  All right.
• 1:56:14
  Love you, brother.