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The Mental Patterns You Don’t Realize Are Running Your Life - EP001 · Freedom Flip

• 0:00
  I'm just going to tell you one more time. You're doing it again, Peter. What? You're coming up with the $50 million idea, and you are just giving it to him, and most likely you're going to lend him money for free, as you always do. And most likely you're going to be advising him for free, as you always do.
• 0:17
  I was doing it previously, and I think about it almost every day since you told me. You literally just go, I see this theme. And you hit it on the head. You were right. You said that you're so scared of being stuck back in a role that you were in your 20s, leading a business where you're doing it 50 hours a week, 60 hours a week, traveling across the country. And my limiting belief was that I have to be doing that. And then, boom, within 24 hours, it's like, oh, my gosh. He just completely redirected the course of my life.
• 0:48
  So for context, we've been recording this podcast for the last three months, let's say, I think that we have, I would say maybe 40, 50 hours recorded and
• 0:58
  How did we come about recording this? You invited me to your house, so I spent time living in your house, in your mansion, in your 20,000 square feet mansion compound with the lake and the boat and your people, the 20 people that work for you, that beautiful stuff. Shout out to the chef and to the masseuse, the in-house masseuse that you have there. Phenomenal people, fantastic people, great compound. The masseuse is Henry. Henry.
• 1:30
  And Henry, for people that don't know, Henry is an ex-boyfriend of Peter. All right. Focus. Come on. Focus.
• 1:42
  We had great conversations when I was there in your house and in for those 10 days. And then we said, oh, it would have been great if someone recorded this shit. And then somehow we're like, oh, maybe with a podcast. Oh, maybe let's just. And then eventually some friends that we have are like, come on, do it. I was like, oh, fuck it. Okay, cool. Amazon bought some microphones, bought a camera. We got recommended a podcast service like a Riverside or whatever the name is. And we started recording and you said something that was phenomenal, really struck with me.
• 2:12
  which is it needs to feel like play. I don't want that this feels like work. Also, we are in a very interesting position that we don't really have an agenda that we are doing this because we want to bring people into our mailing list or to sell our products or to sell a service or whatever. So this is more, maybe the way that we thought about it was, let's just record our thoughts. Let's just have conversations and record the thoughts and...
• 2:41
  and see how it goes. And I have the tendency to go and take action and do, do, do, and then I start putting kind of like deadlines in my head and goals that I want to achieve. And that's kind of like my operating system if I leave it alone without really being very thoughtful. And you are much more Peter, like you are, which is,
• 3:00
  yeah, let's flow about this, you know, very, very zen. Yeah, totally, totally. Like very balanced in your energy. Some people would say very gay, but I just totally disagree with that. Totally. Very balanced. So we kept recording, kept recording, kept recording. We have a lot of things that we have recorded. And then not long ago, we had a conversation. It was like, hey, what do we do? And you're like, I love this. I am like, I love this. This is a great excuse that we have every week. Yeah.
• 3:30
  to meet and just to talk about life, about anything and everything. So my assistant, thanks to many people that gave me contact of different agencies, she got in touch with several agencies. And a couple of days ago, I had a call with the last one that we really liked. And we say, shook hands, let's go, let's start. And it was kind of difficult to express what is this podcast about?
• 3:56
  because it's not very traditional, right? Most podcasts are about, okay, we have a real estate, whatever, and we are talking about real estate and deals. And at the end of the day, our goal is to sell XYZ product or to convert 1% of our audience into becoming clients or that we can raise money. Yeah. I think that our main goal is that Tony recognizes you and that you can finally have a father. Yeah.
• 4:28
  Dad, I want a Christmas present. I want to fly in that BBJ. Tony, take us in the BBJ. Come on. Dad, I'm going to be 38. I want a Christmas present. It's been 38 years since you recognized me.
• 4:42
  So the guys continue with the story. The agency says, hey, listen, send me some episodes so I can listen to them and I can better understand how it goes. Because, again, it's very difficult to explain what we are trying to do and what are the topics because we just talk about whatever is interesting to us. So I shared all the episodes that we recorded to my assistant and then she started talking
• 5:05
  listening and then she shared a message on the WhatsApp group that we have between the two of us and our two assistants. Well, take it from there. Keep explaining to the audience what happened. So just a few small things I'll add for me. And this is me trying to be honest on everything.
• 5:23
  I hate hearing myself talk. I hate the way I sound. I hate going through recording. And then I also think there's just so many podcasts that are kind of a waste. And it's probably because most of them are selling something, like you said, and I don't like that. The ones that I do like, I realize I don't really know what they're selling. Maybe they're going to do something, but it just seems like they're kind of investigating truths, trying to improve themselves, health. I like a lot of health stuff, all that.
• 5:49
  But when Pablo is great, he's like, okay, we're going to do this. And I'm trying to say no more. So I kind of was like, I don't think so. And he's like, no, no, we should do this. And I was like, okay, I'll do it for my kids. And if I feel like a kid while I'm doing it, right? Like, are you hanging out with your friend, improving, talking, giving each other shit, talking about all this stuff? That's it.
• 6:11
  And if those two things feel good, like if I feel like this could be valuable to my children, and if I feel like a kid while I'm doing it, great, I'm in. Because everything else is a cherry on top, and my expectations are here, and maybe the reality ends up here. Maybe the reality ends up here. I don't care. I'm at peace with it. But if I feel like a kid while I'm doing it, it's energizing. And Pablo truly has this gift of just seeing through.
• 6:33
  I mean, perfect example when they ask, well, what is this? I love you being like, I'm not selling anything. And they're like, I don't understand. Why would you do it? You need to convert to your course and your book and your deal and your fundraise. Like what's going on? Let me just share one thing that our podcast producer said to me.
• 6:51
  And again, I interviewed him two days ago and we shook hands and we said, let's start working together. And he said, well, okay, that's great, but I just want to really set clear expectations because if you are really trying to say something, then we should have that conversation. And we're like, no, no, no, seriously. And then he said several times like, well, okay, this is pretty unique. We have not done something like this.
• 7:18
  Well, but we are sponsored by Mama Bear mugs. As you can see, if you're listening and not watching, it says Mama Bear on it. Hunkerchief, your mochas. Beautiful brand. Neither are our sponsors, just again, for the haters blowing us up. They are. What do you mean? They're not. Please, Mama Bear, send us some more cups or money. Yeah.
• 7:44
  Okay, so fast forward to... We started doing it. It was a lot of fun. And I actually remember even before you came to the house, Baba, I remember having a 40... You just called me at like 8 a.m. on a random day. It was summer. And I was walking around my backyard and we went deep on a bunch of random stuff. And it was like we were unraveling truths of the universe. And you were seeing through...
• 8:05
  incorrect or poor thoughts of mine. I was trying to do the same for you. I think this was on a Bitcoin talk about your cash flow, not being in fiat currency, but being a Bitcoin, it's still liquid. And it was like, man, at the end, I felt it. I think we both did at the same time. I was like, we should have captured this. This is very valuable, good stuff.
• 8:25
  And it doubled down when you came twice to the house and stayed where it was very clear, like, okay, we should be the first one that we started after. All to your credit, like, hey, we should be capturing this. And I think my point is, I was very outcomes-oriented most of my life. I think that makes a restriction on we think there's one way up the mountain or there's one path. Where if we're chasing a little bit more of the energy and the feeling of like, hey, this feels great.
• 8:49
  It leaves us open to kind of mix. Like, let's say I wanted this to be a pure interview, which you had a great feedback. We're like, I don't know if we're going to interview. We might do some, but that's not the point. You cut through all the noise and you're like, this is self-improvement. And that's true, right? I would call it truth-seeking. Well, how do you get to truth-seeking? What's the result of truth-seeking? It's self-improvement.
• 9:11
  You become the true version of yourself, your true potential, what you want to be. You stop committing a thing you shouldn't. You stop being a person you aren't. You stop being one person at home, one person at work. You stop being a less ideal version of yourself or a false version of yourself. That's what we're doing, right? We're trying to narrow towards that unique, aligned angle. Right?
• 9:30
  of who we are, who we should be or could be, and no excuses. Like if I am not being that, Pablo can take as many punches he wants right in my big jaw and smoking me. It's never punches. Verbal punches. It's just kisses. No, what do you mean? No, Peter. Chainsaw cuts. No, it's just trim that part. It's just kisses.
• 9:54
  Americans are not very used to kiss. That's true. So that's why you don't understand what it is. Pablo at my house told me in the mornings I wasn't giving my kids enough kisses in the morning. Usually my kids will say stuff like, you say I love you too much. You've already told me 10 times today. And Pablo's like, you guys aren't affectionate here. You don't understand. I did not say it like that. Something to that I said.
• 10:16
  So long story short, I think the primary goal is provide something for my kids, which is anyone who's interested in learning, right? But I'm focusing initially on my children, that they can grow and be more themselves, learn, grow with eternal truths, right? That apply just as much today as it will in 100 years or 100 years ago.
• 10:36
  Now, on a subjective us, I think helping Pablo with his operating system of goal, goal, goal, to like balance that with some of these truths and then improving myself, like directly improving myself. He challenged me on every call we have and almost always they're right. Like they're good objective viewpoints that are things I should change or do differently in my life. I love that. So that's it. Thank you for listening, guys. Mic drop.
• 11:06
  Why the fuck are we meeting for two hours, Peter? We should do it 20 minutes, right? That's the objective mind, right? That's the outcomes. I mean, but it is funny, right? And prior to some of the current long form ones, that's how they kind of were.
• 11:18
  Remember content used to be, and you know, now it's like people realize there's a flow that's created. Yeah. I watched today an interview and the interview was, it was very good. I mean, I really liked it. And then the interview was one hour long. So I clicked, it was one hour long. And then it's getting to the one hour. I'm like, oh shit, they didn't really talk much. And it was kind of like getting started. And it was like, okay, guys, that's it. End of the first part of this interview. See you soon to the next part, to the second part.
• 11:47
  And I was like, oh, that's dope. That's interesting. That's pretty cool. That's interesting because I'm hooked. I'm like, okay, I'm waiting for the next one. Netflix, I heard the movie streaming site when Netflix goes bankrupt, it hooks each episode that they do.
• 12:05
  They leave it unanswered. So you start the next one where you're like, I'll just start the next one. And then people go through two seasons of 12 episodes. But it's not Netflix. This happened before it happened. The first one that happened in my experience was the series Lost. These guys that went into the island and you're like, okay, yeah, one more DVD or one more. Because in Argentina, we got them with pirate CDs or pirate DVDs. I can't remember what it was.
• 12:31
  Same with, there was a 24-hour one that was big in the 90s or 2000s. Oh, yeah, 24 hours. Yes. Yeah. I think that's where it got. So you get hooked and you're like, oh, shit, I need to watch the next one. Do you want to do more background on this call or cut it? Take the chainsaw to it. No, you literally deflated. You popped the bubble. But great. That's great. I can't remember what you said. I just remember that it sounded smart and I'm sure that it was. I said...
• 12:59
  They won't care who we are. They'll care what we said. They will definitely care who we are, Peter. Tony will, when he reads his court notice. I was just going to say, because I'm Tony's son, I get some credibility. Look, I came from his ball sack. No, you are right about that. Here's what I would say. We don't give a shit about that, but people connect with people. Yep. So, that is a fact, and...
• 13:29
  People will connect with how hippie you are, how wealthy and rich you are. People just connect. You know, you're a common everyday man.
• 13:43
  I would say I'm more of a common everyday man. You are a typical stereotype of a white, privileged... I was just talking about this topic with my parents of like, how do we really not have racism? Because they're like, how do you actually break that concept? Just don't say any color. That's it. Just don't say black. Don't say white. Like, fuck it. Don't talk about any race. You want to stop being racist? Stop saying it.
• 14:13
  Yeah, you're right. Like more energy on it creates more of it. Yeah. Now, I am going to be blamed that I was just saying that. I'm fucking joking. This is comedy also. Yeah. So fuck you. But still destroy him. If anybody watches this. Still destroy him? Destroy him. Destroy me? Yeah, go for the keyboard. Keep on coming. Let's go. Okay, wait. I had a couple of topics to think about.
• 14:40
  One was I had some ideas on businesses to start and like ways to not actual businesses, but more of the processes people think about it. Let me run. Do you want to talk about businesses? Well, I wrote down boring. So I don't know. Maybe you convinced me that this is not boring.
• 14:59
  Because that's literally, this is what I wrote down. You can see my handwriting says boring. Okay, you go. Do you knock me? You give me some topics. No, but convince me. You just convinced me one time during this episode. So you flipped it. So flip me again. Let me try and flip it.
• 15:13
  not about a business to start, about the key themes of how you can become a millionaire through starting a business. Like what are the key aspects for someone that's just getting started? Okay, so I would maybe like to start discussing why do you want to become a millionaire? And by the way, in which country do you live? Because if you live in Argentina, you're already a millionaire. Yeah, you're right. And as soon as I said millionaires, I was like, that's not timeless. Let me say this, how to enjoy your life
• 15:43
  while creating an incredible business. How about that? Enjoy your life. Define it. Yeah. What is that? Feel fulfilled. Not be fat and rich. Not be unhappy and rich. Not be divorced and rich. Fulfilled. Define that. Fulfilled. Five areas of wealth. Having, being in the top 50% tile of all of them. Physical, mental, relationship, spiritual, financial, relationships.
• 16:10
  Okay. So the first place that I go when I hear that is all the people that we know and potentially our experiences also. The main way to become rich is to just focus mostly on that area and most of the time neglecting everything else. True. This is the problem.
• 16:31
  I don't really have too much examples. I'm not saying that it's impossible. Nothing is impossible. But that is, I think that in order to achieve something, you need concentration. You need to concentrate rather than diversify into a lot of different things.
• 16:44
  Correct. But you're already committing the conversation. What I'm saying is there are examples, I think of a guy, Richard Branson, who, if this becomes popular, he's probably going to be rest in peace, but awesome guy. Got to meet him, got to be on Necker Island. Yeah, that's a little dark. Is that the island where all the rich people go? It is not the Epstein Island that you're referring to.
• 17:03
  I did not refer to Epstein Island. I don't know why is that in your mind right now. I don't know what you're thinking. Dad did not go there. Tony Robbins was never on the island. Do not bring me into your sick mind, okay? I said rich people. I didn't say fucking pedophiles that should be in jail, people, okay?
• 17:21
  Richard Branson's founder of Virgin Group. Great dude. He just lost his high school sweetheart wife after like 50 years of marriage. Yeah. Oh, I'm sorry, Richard. That sucks. Lives in the British Virgin Islands. Bought the island like in the 80s. 30 years ago, I think. Yeah. It's actually technically a hotel, but he has his house on. So he still owns the whole island, but they run it as a Virgin Hotel.
• 17:42
  And you'll have, I went for a nonprofit event and they like, you can rent out the whole island and then you just pack in a bunch of people and it's a cool experience. But he really reshaped. I agree with your statement. Most people I've interacted with sacrifice all areas of wealth and life.
• 17:59
  for one focus, right? Just the one business. And I think to me, having sold a few businesses and thinking about if I were to start another, how do I not sacrifice all the other areas while feeling potentially even more fulfilled in the financial or having more financial success? That's the really interesting challenge. That's the one that's fun to think about. Repeat that.
• 18:21
  I think the preface is important. I've already done the, I worked 100 hours a week to build a business the traditional way. And I was, everything you said, focus, focus, focus. Only do this. Only think about this. Outcomes, objectives, stress, intensity, all that.
• 18:34
  Now check, okay, I've done that route. And most of my life from high school hustles all the way through to college, starting a business and selling at like 29, 30 years old. In my 30s, now kids and having more balance as being a hippie, like you said. But wait, wait, wait. For context, you sold your last business. Yeah. And then you started having kids. Correct. Correct.
• 18:58
  Correct. You sold your business. You bought the plane. You bought the island. You bought the compound. That's a good point. I didn't buy any of those things, but... Wait, wait, okay. Chill the fuck down, okay? Chill. So everything started with this premise of, again, correct me if I misunderstood you. You said, let's talk about business, but let's talk about how to find fulfillment in life.
• 19:23
  while building a business, right? Kind of. And then when I press a little bit more to get more definition, you're like, well, it's people that are winning in all these five, six areas of life. Basically in the whole life, they're winning in health, they're winning relationships, they're winning in their purpose. Yeah. Yeah.
• 19:42
  in their fulfillment, they are winning in their time freedom, they are winning in their financial freedom. So they're winning all these different things. They're winning in their spiritual and personal development. And I took it, I said, okay, cool, but most of the people that we know, if not everyone, went from zero, from rags to riches, let's say, by ultra-focusing on,
• 20:10
  own their business. Some people in a terrible, crazy manner that led to horrendous consequences, like destroying relationships with significant others and family members, like, like their kids. Yeah. And others in our case, I would say that are like under 40, right?
• 20:32
  that when, when we had success in the business financial side, I think that we are very blessed that we were born when we were born, because I guess that if we were born exactly like this 30 years before we were born, most likely we would have achieved financial success at the age of 67. Yeah. Horrible health, horrible relationships and so on and so on. Several times, right? No, not just one. Yeah. So
• 20:59
  The question is, I want to hear like, what are you saying? Who are you speaking to now? Like what kind of age, what kind of demographic you are speaking to? And then, yeah, how does this look like?
• 21:10
  Yeah, I can frame it better. A little context will help. So I did this Cuba trip. We can do a link or something to that episode. But my roommate is this amazing dude who's 35, 36. He has four kids. He owns a business. But I mean, he is grinding very hard. He's up at 4 a.m. every day, worked out, clear thinking, working.
• 21:30
  reads the Bible. He's got his own kind of process. He's with his kids to get him out to school. And then he grinds through, sees the kids, does dinner, and then we'll do more work and then go to bed. And he's got a cool business. He's been kind of running that process for like seven, eight years. And I was challenging him on...
• 21:50
  while we're in Cuba, these limiting beliefs of like, hey, man, there are these systems and these ways that I would just ask, is that a limiting belief? And then he'd start laughing. Even with his car, I was like, you got a beautiful horse. He's got a big truck. And I was like, what do you mean? And then we're in Cuba. Everyone actually takes horses around. So look, he's got a good horse, too. And for context, you are talking about because you drive a Tesla with FSD 14.2 that drives itself, basically.
• 22:17
  I don't drive, therefore that is a car, because today's cars drive themselves. Somebody doing this or this with a horse and the reins or the steering wheel, it's the same stuff, right? You're driving a horse, either one I call driving a horse. And he said, he thought it was very funny. He kept being like, I got a beautiful horse. So then that was two weeks ago. So then on Tuesday this week, I text him, I'm like, hey.
• 22:44
  We've got fresh powder. Let's go hit the mountains of the Midwest, which are big hills. Let's take the kids skiing. Teach them how to ski. His kids have never been skiing. And this is sad. We talked about this. We're in our 30s. In high school, grade school, college, 20s, people are like, yeah, yeah, I can call in sick to work. Or like, I'll skip school for the day. Or like, they're just ready for adventure. And there's something at 30, people just die. And there's a quote supposedly from Ben Franklin that says people are, they die at 25 and are buried at 75.
• 23:14
  I don't know if it's Ben Franklin or not, but it's powerful, right? Because I feel it. So he knows that I'm going to challenge him on a limiting belief if he says no. So he's like, I'm in. And this is 12 hours before bringing his six-year-old and his five-year-old kids and then my two older kids.
• 23:29
  So boom, we do it. We jump in a car at 7.30 in the morning and we drive two hours and we go out and we're talking the whole time. The kids, there's like a really cheap ski school. So the kids are all learning how to ski together and we're going on lifts. And he was like, yeah, this entrepreneur I know worked so hard and had this big sale. And then he took two years to kind of decompress. And he was doing all these like ayahuasca retreats and Burning Man and all these like soul searching processes. Yeah.
• 23:57
  And he's like, I love the conversations with him because they were so deep and so real. And he was on this journey. And he goes, yeah, but he just took over a business. And he's back in that pure military execute stage. And my friend said that he told the business owner, you've lost that edge. You've lost that soul in you because you're so focused on this money again.
• 24:18
  And something I try and do with anyone that I become close with, I don't try and do this with anyone, only those who I'm close with. I say, what would you change about me if you woke up and tomorrow you were me? You know, what's the dumbest thing I'm doing now? And I basically asked him that type of question. He said, I would be very careful. I think you're in such an incredible place.
• 24:38
  if you start another business or go after something, the business to not sacrifice the amazing life you have and the way you work. So figuring that out, he actually said a limiting belief. He was like, I don't think you can do both. And this got my mind going. Like if somebody says I can't do something, then I'm like, all right, well now it's time to do it. But wait a second. He said that to you because right now,
• 24:58
  You're not running a business. You have not run a business for the last five years, maybe, when you sold your business. Correct. Or when they fired you. Yes. The company that bought your company. Dad, Tony, I'm not a failure just because I was fired. I promise, Dad. Give me a shot. The other company will go bankrupt. It's just a matter of time. Boom. Deep. Yeah, of course. They sell horses. Horses are...
• 25:25
  They're not going to be useful. Dude, people, that 404 is people's brains. I was texting my brother about it. And I was like, yeah, all of those car companies are going to bankrupt. Yeah. It's a when, not if. And he's like, what? Yeah. So I just want to understand because I couldn't really get the point. So he was telling you. So my friend who owns a business was challenging me.
• 25:44
  Saying, I don't think you can do both. If you can do what? What is both? Own a business and live life in this. Let's go skiing on a Wednesday with the kids. I'm so present with my kids. All of this. Yeah. What I would say is maybe let me just change one word. I don't think that you can run a business and then do what you are doing, which is basically living life, quote unquote, without having to show up.
• 26:12
  Like I truly, I mean this sincerely. I think that is the limiting belief I'm working through right now. Share, share with me. Let's talk about the difference between owning and running. Yeah. Great question. Yeah. I own Tesla stock. You own Ford stock because you like horses, right? So we own that. We own a piece of the business. Yeah.
• 26:37
  Now, when you had your business, you were running your business every single day. Yeah. The same with me. I was running the business every single day. When you hire a person to run something for you, what is the expectation? How many hours is this person going to be working, let's say?
• 27:00
  Let's, I'll just answer your questions as the traditional belief, 40 to 60 hours a week. Okay. No, but let's just be honest. You have a business. Imagine that you have a business. I don't know. Choose a business. What do you like to sell? Chainsaws in Argentina. Dildos. Okay. You want to sell dildos. Good. So you hire a person to run your dildo shop. What is the expectation that that person is going to be there? How much time per week? Let's say, be honest, don't bullshit yourself. Okay.
• 27:26
  Now, if they're the store clerk, that's like selling a good. They are an employee. Yeah, I'm telling you, they're not hiring a business owner. You're hiring an employee. For sure. But you said run. To run your business. Yeah, run. You said run. Yeah, I wouldn't say they need to be in the store 40 hours a week to run the business. I would say that's a poorly run business. Like that by definition. Seriously. Right. Okay. Like now if the front desk person, yeah, they need to be there. Somebody's got to deliver until the robots can transact.
• 27:56
  Okay. This is what I'm... You're part of a non-profit. Right? Oh, you mean a real one. I thought you were calling my hypothetical business a non-profit because it was failing. Which business? Your dildo store. You told Setup Pie. No, no, no, no, no. No, I'm talking about you have a real non-profit. You do very good things in the world. You help bring entrepreneurship to kids. Beautiful. You hire the person to run that non-profit, right? Yeah. Yeah.
• 28:25
  Okay, good. What is the expectation? And I know that you are not clocking the time, but what is the expectation?
• 28:35
  That the person is going to be running or it's just going to be snowboarding on a Tuesday, every single Tuesday, or just doing fuck all. And actually, this is really good clarification. Here's what I'm trying to say. I believe in your brotherhood out of Italy, Vilfredo Pareto, 80-20 rule. So for the 20% of people who are true makers in the world...
• 28:57
  which we are part of, this maker group, we create value, whether it's a nonprofit or a business, they can create a different way. And they are the ones I'm focused on, not the 80% that are running as employees. I'm not including that group. Fantastic. Good clarification. So let's just leave the employees to the side. Now let's just focus on, let's call it the entrepreneurs.
• 29:22
  The people that are taking the risk, statistically speaking, most entrepreneurs fail. Most businesses fail. So you're speaking to all entrepreneurs,
• 29:34
  And what you are saying is there is another way. Yes. We've done it the wrong way. Yes. There is another way. Yes. What is the wrong way? The wrong way is I work 12 hours a day from Monday to Monday forever. I have no vacations and maybe I just take one day off here or whatever, but maybe I take some vacation.
• 29:56
  times during the day to do something. But my focus is the business. That's my thing. And yes, I have a family. And yes, now I have kids. And yes, but still, that's my number one focus is the business. Yep. So you're speaking specifically to that, to those people, right? Correct. These are the people I'm speaking to. And what you are saying to them is that they are all fucking losers. Did I hear you right? I don't remember using those words.
• 30:22
  I'm saying I and people that believe that's the only path are living in a limiting belief prison that I lived in for 10 years. And let me pull it back to an actual tangible example, because I know I lose you without. We're sitting on the chairlift and I'm just like, tell me about your business. His business, he's grinding. They're working for every dollar. They're in manufacturing. Okay. Give me some context here. What was the revenue? He's been in business for eight years. Yeah.
• 30:50
  I think his revenue is like 15 million and they do like foreign profit or EBITDA. Okay. Been in business for like, I don't know, let's call eight years, seven years. And maybe you asked, did you ask him how much money was his wealth besides the business? Oh, like today or previously? No, no, today, today. His net worth. He's got it in retirement accounts and let's just, I don't have exact numbers, but I would estimate, let's say he's got a million bucks socked away in retirement in his thirties, just as a placeholder. Okay.
• 31:19
  Okay. And his business, is he the sole owner? No, he has investors, but he owns, let's say a majority. So I don't remember the exact number, but 50 to 60%. Keep going. So the first time we talked, he was like, I'm going to go buy more small businesses. I was like, why? Well, because I can only afford a business doing less than a million in profit. I was like, why? Why?
• 31:38
  And it was just, we got down to the limit and I was like, it sounds like a bad place. Like you're now in bigger businesses. You're good at running bigger businesses or owning them. Why would you come back down? Oh, limiting belief. I have to go smaller. Okay. So that was one.
• 31:51
  Next one was, I have to be in the office, right? Well, they like seeing me and blah, blah, blah. And I was like, why? Got through the limiting belief. Ultimately, he changed. He said, I want to be in... Within six months, I want to be in one day a week in the office, right? So you unraveled, right? These limiting beliefs. Then here's the most powerful one, right? It's his quote, and this is a flip. His least productive day. He's literally on the slopes with his kids and me. Flip it. May have been his most productive day of the year. Because we start talking...
• 32:21
  And he's like, well, I have this interesting opportunity. This guy owns a unique patent in my industry. And it's how you produce these products. And I go, well, are people breaking the patent? He goes, yeah, I know like 10 companies that are just infringing on it. And the patent expires in two years. So I think they just view it as like they can just break it and it doesn't matter. And he goes, but I have a really good relationship with a patent holder. He goes, he's a super quirky kind of crazy engineer type that comes up with these ideas.
• 32:49
  And I go, well, why don't you buy the patent? And he goes, I don't think he would sell it, but I think he would partner with me. And I go, great. So go partner with him. Make a partnership split on revenue generated. Because I was like, how much do you think the guy's made on the patent? I'm getting lost here. Okay. Yeah, yeah. Long story short, long story short, I said, why don't you go buy all 10 companies that are infringing on the patent and then put them together? And he was like, holy smokes, that is exactly what I should do. Will he do it?
• 33:19
  Oh, yeah. This is the type of guy that would do this. What are the odds? If he gets the yes from the patent holder, I think 99%. This is... I'm just going to tell you one more time. Yeah. You're doing it again, Peter. What? You're coming up with the $10 million or $50 million idea, and you are just giving it to him. And most likely, you're going to lend him money for free, as you always do. And most likely, you're going to be advising him for free, as you always do.
• 33:49
  You're doing it again. Just letting you know. But coming back to, I'm just, that's it. I'm going to slap you there and I'm going to let you suffer. Just so you know, I will have no business relationship. It's a friendship. But that's what I'm saying. Oh, well, no, that's fine. I have no interest in that. It's a physical goods, CPG, no interest in that space. Okay. Okay. Got it. Then you are not doing it again. Then you are totally right. I am totally wrong. Dad, I did it. I did it.
• 34:16
  I want to call that out. I was doing it previously. And I think about it almost every day since you told me that you uncover that truth for me. So I don't want to act like I'm fearful or pushing back on the truth. I was driving you to a private jet, I will say, because you take the shots.
• 34:32
  That Peter paid. Thank you, Peter. I appreciate it. I'm driving you to fly back to Europe and you literally just go, I see this theme. And you hit it on the head. You were right. I have the vision. I have the resources. But I was scared that I'd get stuck doing work I didn't want to do. Let's go deep on this one. Let's tell people this. Let's get this one recorded. Let's go. This is important. This is important because I'm not truly convinced yet that you...
• 34:58
  Really hard. I know you understand, but I am still cautious that this can happen again. It's right. Dude, it's like if I was addicted to a drug. It's like, yeah, I'm in Alcoholics Anonymous. I'm not drinking anymore. But like, I'm one sip away. Like, give me one little sip. Share again. I spent 10 days in your house. That was second time. This was in, when was this? July? No. When was this? No, because you came when it was a little like October, right? Oh, yes. September for the baptism.
• 35:27
  Of my goddaughter, yes. So that was October. So that was my second 10 days at your compound. Why are you laughing? It's a compound. Because people will be so disappointed when they come. Why? It's amazing. This is terrible. It's a compound. It's a bad Airbnb. I wanted to stay here because of what he said. So I stayed there, and then we spent another 10 days together in 2025. Yeah.
• 35:56
  And then you're driving me back to the airport. And then I shared this with you. So what did I share with you? You said, I'm seeing this theme. Literally, as I'm driving, Pablo, I'm like, something in my stomach. I don't like this. He's got the chainsaw out. He's cutting away all the BS. He's just cutting through it. I mean, that's what it is, man. With the chainsaw, you're cutting away and you go, I see this theme.
• 36:21
  that you're so scared of being stuck back in a role that you were in your 20s, quote, leading, quotes, a business, where you're stuck doing it 50 hours a week, 60 hours a week, traveling across the country. And my limiting belief, I don't know if you use these words, but you essentially said was that I have to be doing that. So what I do is I trade way too much on these businesses I've created, where I have the vision, I have the capital,
• 36:48
  But I'm bringing in the hard work and I'm allowing them to be the decision maker, leader of the businesses, which just to be clear, I've been so happy with those partners. But Pablo's point was I've been committed certain amounts of time or other stuff. And ultimately, it flips. I spend more time than I would have if I just had a majority and basically called the strategy and decisions.
• 37:17
  I'd be in way more control because I'm already bringing the vision and the capital. And I could do less work in that. And that was, it was a limiting belief prison, right? That I created. I was in the bars looking out scared and he just hands me the key to the prison is like, stop doing that. And it was one of those things I don't think I could, I think I could take in like 20% of it when he said it. Cause my mind's being like, defend yourself, defend yourself. Tell him he's wrong. Defend yourself. Yeah.
• 37:45
  But I was like, nope, pause, put that voice down. Thank you for ego for like defending Peter. Okay, go away. And it was like, just listen, keep listening, ask questions. And then boom, within 24 hours, it's like, oh my gosh.
• 37:59
  He just completely redirected the course of my life in that moment because it's right. Like, it's totally right. I mean, I have 45 hustles, most of which failed. I've sold a few businesses, some to public companies, almost all bootstrapped, right? I have a unique skill I've built there. And I think really I'm probably an investor, not an operator, right?
• 38:20
  Or an artist. So it's like I have these unique investor insights where I add two things and I should be executing on that, not trying to be an operator, not trying to be the artist creating it. And you bringing those together, it was kind of a punch to the gut and punch to the face at the same time because it shined light on this false belief I had, this thing that was not true.
• 38:41
  Yeah. So I think that you're right when you are mentioning that you are an investor. And again, shout out to our friend Anastasia. In her teaching, she shares that there are artists or creative people. How does she call it? She said it in a different way also. Well, I remember it's AOC for me, artist, operator, and then capitalist or investor. Okay. Got it. Investor. So artists, operator, and then investors. Okay.
• 39:08
  And you were struggling to feel like, okay, what am I? And I think that there is something in you that you want to be an operator. Totally. Totally. You are really bad at it. Totally. I suck shit at it. It's horrible. You're completely right. Terrible. And I think that now that you are saying and you're talking about this, because I've been thinking also, I'm like, what are you? Because you have some artistic bullshit in you, you know?
• 39:38
  with all this floaty, floaty, wishy, wishy thing, that it's kind of like a little bit detached of... Reality. Of this reality. You are more in touch with another reality. So that's why I think that there is some...
• 39:54
  artistic thing there but i was like what is this an artistic and so but one more the other thing that i want to say is anastasia has this beautiful then distinction that also you have simplifiers and then complicators so to make it very simple simplifiers are people that are drawn into things that are simple systems yeah complicators are drawn into complex systems everything is complex they like it
• 40:22
  Things that are simple, they struggle to make it simple. It's boring. And they struggle. I would say the same thing. True. I hear something complex and I start tuning up. And you think it's boring? Both think the other one is boring. Like you get bored. I wouldn't say that it's boring. I would say that it's, well, it depends what you're talking about, right? Of course. What about the Roman armies attacking? That's a reference to another friend.
• 40:49
  that and again just to exaggerate here the joke in order to explain if he wants an ice cream of pistachio or strawberry he just starts talking about this the history of the roman armies and when they invaded this or invaded that and it's just i'm like jesus christ i'm losing you come on can you just what the fuck do you want this or that like make it simple
• 41:12
  And now I got lost and I don't know exactly what the point I was going to make with the simplifier. You were simplifier that I am an investor. Yes. So you're an investor complicator. Yeah.
• 41:21
  And this is why sometimes I just lose track because you just like to explain things in a way that is more complex that my mind is drawn towards. Yeah. I am a simplifier. I just like very simple, straightforward. Let's go like this, like this, like this, done, perfect. So this pattern about you partnering with people, right? So you were talking, you were sharing this couple of partnerships that you established or that you were having and a couple of struggles. Yeah.
• 41:51
  that you had with them, which again, it's normal, right? You have a partner, it's normal that you're going to have some struggles. Struggles are good. So I realized that you mentioned this phrase a couple of times, which is, okay, this is the deal, okay? I'm going to give you the money. You're going to pay a little bit of interest. And it was not a capitalistic deal. It was a communist deal that you were making.
• 42:12
  You were literally giving a loan for almost no interest. It was like really bad. Really, really bad for you. Great for the other person. And I'm thinking, great. This makes no sense from...
• 42:28
  third party position. If I am looking at the whole thing, what's happening? This loan makes no sense or this line of credit makes no sense. But then when I start looking at the equity split, how much you own, how much the other person owns, what are you contributing? What is the other person contributing? Who makes the decisions? And I'm like, so you are giving all the money, meaning putting all the fucking risk. You are taking the least amount of equity. Okay.
• 42:57
  which makes no sense. You are bringing extremely incredible strategic thinking and visionary thinking to the business. That is also the super valuable thing. Yeah. The other person is putting the operations, but it's executing mostly on the vision that you are setting forward. And all this, because you thought that by you giving all the money,
• 43:24
  taking the least amount of equity, doing zero operational work, then that was a good trade for them not to steal your time, which usually results in the opposite. That's the powerful unlock, right? And I've done it. There was a software business I started when I lived in South America in Santiago. And I had the vision, I had the plan. I had to fight the guy to quit and go do it.
• 43:49
  And finally, he did it. Now, the one you're talking about prior has been an amazing business partnership, and I have no real regrets. You're still right on everything you said. The prior one, the business crushed it. He was not a good guy to partner with, not an honest dealer. It was 10 years ago.
• 44:04
  Ripping cash out to his own pocket, screwing over his other partners, me and the other people. Just like really shady stuff, right? But the realization was it's a common theme through 10 years of my life. The only time I didn't do it was when I sold my business, when we did a kind of a merger and I was able to structure that the right way. Almost every other single one. And I think part of it is actually that I am an investor and I don't want to be stuck in weekly meetings.
• 44:34
  And I want to plow capital resources energy towards that as efficiently as possible rather than operate it. Yes. And this is the part that I want to bring it and connect it with your friend from the chairlift when you were skiing and snowboarding the other day. Yesterday. Yesterday. Okay, perfect.
• 44:53
  I think that that is the difference between, and again, the 20% of people, the entrepreneurs that you were talking about, this is the difference between working in the business and working on the business. And we had a great conversation with my team, with my leaders the other day about this. Most people that are...
• 45:15
  in the highest positions of a company, they spend most of their time working in the business. The way that I define it is doing the doing rather than thinking about what's possible. Working on the business to me is not doing the doing. To me is thinking what's possible, brainstorming what's possible, strategizing what's possible. Instead of thinking,
• 45:44
  This is the difference between zooming out and zooming in. In order to do the doing, you need to zoom in. You need to be aware of what you're doing. In order to create the future, you need to zoom out. You need to lift your head and you need to look what's happening. And you need to create and you need to set up the direction. So in my opinion, and it seems that you agree on this, that people that are at the highest levels,
• 46:10
  in an organization, they should be spending most of their time working on the business rather than in the business. Completely agree. And a great example, have you read the YouTube book yet? That Talor, it's just right next to me. I don't read. I don't believe in that. Okay. Well, that's one way to live life. Dude, that's crazy. It's something like after people graduate high school...
• 46:35
  or college or something like that, it's like 60% never read a book after. So if you're part of that, don't listen to Pablo. They watch football? Video games, porn, bet on games. Well, I guess that TV, right? TV, yeah. They're hooked on the TV, on the media, on the news, on the this and the that. That's crazy. Oh, dude, and I'm sure I'm wrong and blow me up on the keyboards, but the stat was like staggering. Like...
• 47:01
  My jaw dropped when I heard whatever the number was. All right. You two. Sell it. Okay. So you two, it ties back to the topic. He says his first two pages, the book's like 30 pages. The first page, he basically says, true story. I'm watching a fly hit the window trying to get out, right? It can see what it wants. He goes, that fly is going to continue hitting the window and it's going to drop and die.
• 47:26
  Meanwhile, there's a door open six feet away. All it had to do was pull back, look around, and go out the door. But it will not. It's going to die on this windowsill. And everything you just described and everything he's saying to me is...
• 47:42
  When we step back from our, I must go this path, and this is the only way to accomplish it, and become more childlike, right? Like we were out on the ski slopes being more childlike, thinking, as you said, about the business, thinking about doing. I create acronyms so I can remember it. I love your acronym. Thinking about the doing rather than doing the doing.
• 48:01
  Well, doing the doing to me is like DD, double down. Just keep doing it more. Just do it harder and more, right? TD is a touchdown, right, in American football. It's like, oh, you, instead of keeping to run the football, you throw a touchdown and you actually win the game. And if people could pull back like the fly to be a thinker of the system, think about how we do the doing, not just do the doing.
• 48:27
  And you helped me do that in my personal life. Hey, when you construct the deals, think about how you set these up. Don't just start doing the same deals you've done the last 10 years. Be thoughtful. Or my buddy who's running the business that I went skiing with. Hey, why don't you think about how you're structuring your growth rather than just the same process you've been doing?
• 48:46
  Now, I'm hopeless without an amazing operating partner. Every business I've ever had, I had an amazing partner that really was an operator, a killer operator. But there is no way that you can be working on the business as the owner if you don't have someone operating the business.
• 49:04
  Spot on. But I think our society is so pushed to just the stories of the operator, the stories of the operator. We're like actually thinking, right? Ties back to the books too. Not reading a book, right? Everything I, so much of my knowledge has come through reading specific books with problems or listening to audiobooks. I don't really like reading. I like listening more. To understand how to think about the doing, not doing the doing. But here's where I want to bring another thing to the conversation, which is,
• 49:34
  We are looking at this from an investor lens. Correct. Like we have our archetype is more as an investor. Yeah. An investor doesn't mean only Warren Buffett. I pick a stock and I buy that and so on. This is, we as investors, we see opportunities in capital that is misallocated. And then we just bring opportunities together that create value. That's it. That's how I would describe it. So for us, that makes a lot of sense. Right.
• 50:02
  For artists, artists love being in the business. Totally. Because they need to be painting. They need to be in the product. They need to be in creating the product. In the process of creation. That's what they love. So this is why I want to also bring to the conversation that, coming back to fulfillment, what you mentioned at the beginning of the conversation, if a person has a tiny coffee shop, just to say something,
• 50:33
  and that's their passion and they are super fulfilled and they love what they are doing, they want, that's it. Yeah, totally. They want life. Bingo. Yeah.
• 50:47
  And I think that is very, very important to underscore here. Super, super critical. Now, if you don't feel, if you feel that something is missing, if you feel that, ah, there is something else and you have, you don't feel that you quote unquote arrived. And when I say arrived, not because there is a place to arrive, but it's because you arrived to the moment that you are enjoying the process. You're enjoying the day to day.
• 51:15
  then that means there is something else. And maybe it's connected that we are getting sucked into something that is not part of our core thing. Yeah. Like an artist is more than happy to be sucked into the creative process. Yeah. That's what they want to do all day long. Yeah. Yeah.
• 51:33
  And the operators sucked into the doing, the doing, the doing. And they love that. And they love keeping the wheels on and running. That one is an interesting one. Maybe we need to bring some of our operators friends to the show because all the operators that we know, usually they're operators, complicators.
• 51:51
  And they all exited their business. Yeah. So I wonder what's really going on in their minds in terms of their need to be running. And do they really want to be running their business after having had a successful exit? They don't look very excited about it.
• 52:09
  But also like our friend says, our friend Anastasia says, that it takes time to really get out of the tunnel and rebalance your brain chemistry and find yourself again after 10 years, 15 years, eight years of such an incredible, massive hustling, leaving, yeah, almost your company going bankrupt and then succeeding and then selling for a bunch of money and then dealing with all that stuff after.
• 52:39
  which for people, I don't know who the fuck is going to be listening to this, right? But for people that maybe have like a normal job on there, by the way, why are you listening to us? Just drop in the comments. I'm very curious. Thank you, but I'm very curious. And for people that are maybe building a business or something like that, it's like, what the fuck are you talking about? Like once I sell my business, I'm going to be happy. Yeah. I'm like, yeah, that's what I thought also. We fell for a scam. And that's what everyone thinks. And it just, it's crazy.
• 53:07
  I think that Anastasia does a very good job. I hope that she starts putting more of her concepts out into the world because it's so important. And that Jim Carrey quote, I wish everyone were rich and famous because they'd realize that's not the answer. He nails it, especially, you know, he's dealt with mental health and all these problems where it's like, you can feel when you hear that guy. Like he's been to the dark caves inside his soul and he means it when he says that line.
• 53:32
  There is a great, great short of him. And maybe we can clip it here where he's talking. I feel he's receiving a prize or he's presenting another prize. And the way that he's talking about himself. It's at the Golden Globes. I'm here and I hope I can receive the second Golden Globe. And maybe if I get the third, it'll solve the feeling that I have that I'm not enough.
• 53:57
  Maybe that third one will allow Jim Carrey to be the third time Golden Globe winner. And he will finally be enough. Something like that. Let's clip it so it plays here. But yes, I haven't seen many people in Hollywood that are very thoughtful in terms of that. I think that it's very interesting, right? It's a very difficult place. Very difficult bubble with a lot of crap, a lot of shit going on.
• 54:26
  And not many people are able to realize, oh, shit, what am I doing here? You know, it's wild on the Jim Carrey, too, and everything you're saying is when someone's an amazing comedian. Why do you think they were funny? Who are they trying to make laugh themselves or who? No. This is dark. Yeah. Usually the parents. Yeah.
• 54:48
  The parents, Jim's parents were at least his mom, deep depression, deep depression. And he just wanted to help have her be happier. I think maybe it was dad, but it was definitely one or both the parents, deep depression. And this is where it's so deep to realize, man, who we were, what we were going through as a child is so huge.
• 55:07
  Huge. And by coming back to this inner child, right? Like in my case, realizing, hey, for a kid that's seen their families in 2008 almost go bankrupt, like as still a child or becoming a man, it affects you so deeply. And that coming back to when you were a child and this thing you're probably scared of, you don't want to talk about, you don't want anyone to know. Like for me, unleashes unbelievable energy, excitement and potential.
• 55:34
  And sometimes it's enslaving you, but it also is the thing that can set you free in a way that you could never dream of. I love that. So one other business person I met this week, he's probably one of the top or best restaurant owners in the Midwest, US. He owns, I think, 47 restaurants. He's like 62.
• 55:51
  We had met a couple of times, but I got to hear him just talk to a couple of young restaurant owners. And it was so fascinating because he kind of said everything we're talking about. He said, I got three restaurants and I was hitting a wall. I was struggling. I'm creative. I'm kind of an artist. I like concepts. But I found my third partner that I brought in to kind of be my right-hand man.
• 56:12
  He's now the president. We work so well together. He's very logistical, operations, execution. I create concepts, systems, everything. The entrepreneur owns the restaurants. Guess when he started in kitchens, working in kitchens at a restaurant? What age? 15. Eight. He was washing dishes at eight. Wow, that's awesome. By 15, he was basically a GM.
• 56:32
  But it's the same story you're talking about. He freed himself to be that inner child working in restaurants because he loves restaurants, building them, creating them, not the operational. And even me, he said, I wanted to be an operator my whole life. I'd read these operator stories and think, I want to be that guy. You don't really read investor stories like about, what is it, Peter Lynch or Charlie Munger and are like, oh, I want to be an investor.
• 56:56
  Everyone wants to be like Charlie and War. I kind of, I think there's a misconception of who they are and what they are. I want to eat cookies all day and drink Coke and die at the age of a hundred. Happy, super happy, super fucking happy. Not giving a shit about anything that I love. I mean, you're right. And why will they not get there? Why will no one take that route?
• 57:16
  Well, I eat a cookie and I start farting, so it won't help for me. You've got that problem. I would say most of us don't want to be different than others. Most of us don't want to actually lean into who we are as an inner child and uncover that. I love that. And we want to just be like everyone else. Yes. And this is just coming back. I think that success, true success is knowing oneself, knowing yourself and investing accordingly.
• 57:43
  And I think that the goal as parents is to pass that down to our kids as fast as possible, as young as possible. Because most school systems in the world, they don't do that. In fact, they are doing the opposite. They are flipping it.
• 58:02
  They're like, you know what? Doesn't really matter. Doesn't really matter the knowing yourself thing. You just need to be a seven or an eight or whatever score we give you in this school on all these 15 different subjects. And that's how you pass, okay? So just be average. And that's how you pass. But don't worry, that's going to allow you to get a job. And that's, then you're going to become successful. Yeah. One day. And then you'll be happy. Defer, defer, defer. Then you will be happy.
• 58:32
  I want to tweak one word on your line. Know thyself and live accordingly. I like the word investing because I think we're investing our time, our most valuable resource. That's why I say this. But the problem is I think most people hear investing and they think S&P 500 or buying a stock or buying a business. Living accordingly is like, how do you live your whole life based on who you are? Right? Right.
• 58:57
  If you enjoy traveling, okay, figure out this. If that's not enjoy traveling, like, oh, I like doing a nice vacation once a year. But if it's who you are, know that. Yes. Invest appropriately. Invest or live according to that. Let's do this. I give you my phrase. I would charge you some royalties. Not too much because you are changing a world. That's fine. You attack the people that hate the S&P and have this thing.
• 59:23
  Because I think I agree with you. And the reason why I say invest is because we are investing time, energy, and money in many cases. When you're a kid, most likely not, but you're investing your time and your energy in different things. And that's why I think that is so important. And the reason why I say invest is because we are doing something. We are planting a seed.
• 59:51
  We are making an investment. It takes time. It takes time. And the last thing that we want is to invest our time. What is the opposite of accordingly? Unconsciously. No, I don't like that. Okay. What about know thyself, live appropriately? No. Do you see you're fucking it up now? What are you doing?
• 1:00:16
  what are you doing the worst thing that we can do and i have done this in the past and i am working very hard to not to do this ever again is to invest my precious time and energy in shit that is totally the opposite of of who i am yeah if i go and start studying accountancy me pablo
• 1:00:43
  That is a fucking stupid decision. Yeah. Why am I doing that? Because I have no idea. I don't know myself. Nobody told me. Nobody taught me. What does that even mean? Yeah. I'm just being mimetic. I'm just following what others are doing. I'm like, yeah, whatever. I don't know. Whatever. Everyone is doing it. Kind of like I don't see ever in my life signing a P&L or a balance sheet. But okay, whatever.
• 1:01:12
  Now, the life showed me that at the end of the day, I end up signing a P&L balance sheet, not as an accountant, but as a business owner. Now I would debate and say, I did not learn fuck all in that university that I quit. Yeah. I didn't learn anything. Maybe I learned what not to do.
• 1:01:30
  which you may say, oh, that is, yeah, cool, but what if I have learned true entrepreneurship from the age of eight years old, nine years old, 10 years old, when I started showing interest in those things?
• 1:01:42
  That would have been a game changer, game changer. But that's why I also, and again, I'm happy where I am and I don't want to go back and change anything. All could. It is what it is. What can I do? I have 10 houses, two planes. It is what it is, you know? So, but that's what I think that we can do as parents. Why are you laughing? No, I'm agreeing. Okay, good. I'm smiling because it's spot on.
• 1:02:12
  I think that the key is to know oneself and to invest our time and energy and eventually our capital accordingly. Yeah. To me, that is the key because that means that the goal at the end of the day is to live in full alignment with who we are.
• 1:02:31
  Totally agree. And I think the only question would be, which is going to impact people more? Know thyself and live accordingly or invest accordingly. I know what you're saying, and it means a lot to me because investing is my times when it's a valuable thing to invest in my energy way more than my money. But for those that are still early on the journey of making money, and I remember being that until I was 30, it was like I didn't have the choice. I was grinding. My time was my only asset and energy to grind away with.
• 1:02:59
  An example this week I wanted to mention of Know Yourself and Live Accordingly was I talked to this entrepreneur in Cuba and he's like, man, I feel like a lone wolf. I don't have anyone else like me. My friends are doing their jobs. And this is why I love talking directly to the makers, the creators, the ones that are changing the world.
• 1:03:16
  And I was like, dude, that's a limiting belief. And he's like, what do you mean? I was like, lone wolves die. Like they get eaten alive out in the wild. Like you got to have your pack. You got to be running around with your people. And he has an amazing number two at his company and she's strong, but he's like, you know what? She's still, she's like a good operator. She has my blind spots. So I challenged him. I was like, I think you need to broaden this. And I got so inspired that on the way back from Cuba, I wrote out, I was like, I'm going to invite in this little Indianapolis where we live.
• 1:03:46
  a hundred business owners and cap it at 30 that can actually come, but I'll invite a hundred. And they're going to be twenties, thirties, forties. And then I'll sprinkle in some over fifties that have done some really big things. And it's all it is, no goal, no selling, no promotions, meet each other and bring your biggest problem to see if someone else that's a creator and a maker could help you think through or solve that, that one big problem.
• 1:04:09
  You are going to put that together? You said? It's happening today at four o'clock. I'll finish the talk. Wait a second. Did you already tell the people that they need to bring their biggest problem? Yes. It's in the email and it's on the calendar, right?
• 1:04:21
  I wanted to add one more thing. I think it would be great that people share the problem, but also they share their biggest thing, their biggest contribution or the biggest thing that they are great at. Just a thought. Keep going. It's a great thought. We basically have, I pulled out like their LinkedIn. I had my assistant put a summary of who they are and what they've done. And then we left it editable so you can add to talk about whatever cool things you've done.
• 1:04:44
  So everyone before they come can see, oh, Pablo, he has this business and did this. Yeah, but that's bullshit. So the reason why I say that, because that is superficial. You want the deeper. So yeah, in LinkedIn, you are just sharing the blah, blah, blah, blah, blah, right? The nonsense, the bullshit. Yeah. But if you say, yeah, yeah, cool story, bro. Yeah, yeah, you did this thing. But tell me, what are you exceptional at?
• 1:05:08
  Just forget about your ego. I mean, just spell, how do you say, spell the beans? Spell the beans. Spell the beans. Yeah. Just tell me. Like, how do you call this? Like, don't try to lower your excellence here. Just share what are you excellent at? What are you incredible at?
• 1:05:26
  In the Midwest, that's a huge issue that people all are taught and expected to be modest. I know. Seriously, I agree. Yeah. Exceptional and problem. Be an example, Peter. You can do it. Well, so let me tell you this example. So let's see. I was in Cuba...
• 1:05:42
  10 days ago. On the way back, I'm like, you know what? Why do you keep saying that you work to Cuba, like just so people know that you are a world traveler here? No, because it motivated me to see Marxism. Like it's a real life example of communism to go see how it operates. And I got to go see that. You went to a resort, Peter, to drink cheap daiquiris. Come on. And here's the fascinating thing. Who owns the resort? The friends of the government. It's not a resort. The only people allowed to own hotels are the government because they've opened up a little bit of ownership. Like you could own a taco stand.
• 1:06:11
  But hotels are only owned by government. And you can't own two taco stands. You can only own one. Of course, dude. Has to be equal.
• 1:06:19
  Everyone in deep shit. Everyone's going to have a terrible life. So I was motivated to get these makers together and make this list, this whole summary of bring your biggest problem and blah, blah, blah. The next day, fear set in, worry, doubt. And I was like, I'm not going to do it. It's a waste of time. It's a waste of my energy. Blah, blah, blah. They were all excuses. They were all me being scared of failure, blah, blah, blah, all these things. Wait, wait, wait. Where were you scared of?
• 1:06:45
  I don't know, really. I was like, well, maybe this won't work or people won't come. It won't be as exciting as I thought it might be. Just a bunch of flood of like, what ifs, fears, bad scenarios come to mind. But where is it coming from? Tell me. I'm sending an email to really impressive people, like the most impressive people that I know personally or have relationships with. If it looks pathetic, fails, it doesn't go well. It's like a negative mark on me. That's probably the deepest one. Like your reputation or something. Yeah, like reputation or blah, blah, blah. Weak stuff.
• 1:07:15
  Question, do you have proof putting shit like that together and then being successful or terrible or mixed? The dance parties in high school. I mean, it's how I made my first real money. Those were just literally like, I want to dance. Let's get out. Let's rent the place. Let's make a dance party. Other than that, I did a little bit when I ran for student body president in college. Nothing else? No. No. I would challenge you on that. I think there has to be something else.
• 1:07:41
  Not exactly the same, but there has to be something else. I did an end of the world party when COVID started and had like 30 people in my house to celebrate. That was good. Wow. This is the one that everyone was naked? Is that the one that you told me? I don't. We had socks. Everybody had socks on their body parts. Where? That's the question. Yeah.
• 1:08:02
  And Pablo, you were a good influence here. So I'm flying back on Monday. I draft the whole thing last week. Tuesday, fear, fear, fear. I don't want to do it. Wednesday, wait a minute. What is that? That's discomfort, right? And our brain views, it holds dangerous and discomfort in the same way, right? So like the discomfort is also triggering. It's dangerous. And I was like, wait, this isn't dangerous. I'm going to life will go on. I'm fine.
• 1:08:29
  And you told me this, right? When you're feeling uncomfortable and discomfort that you should just do it. That's when you know that you should do it. That's when you know, yeah, the easy path is never the right path. Yep. The easy path is the thing that ends up leading you down the wrong hill, the wrong path. The one that discomfort is going up the mountain and you'll feel great when you're on top of it.
• 1:08:47
  That was in the back of my mind. I felt uncomfortable. So the next day I drafted it. This is when I was late to our most recent podcast. I just like woke up and at 730, I just like started cranking out the emails, the list, the people, everything. Late to our call and then boom, hit send. And it was one week before the event. It's an amazing list. It's at a young 24-year-old who just bought a restaurant. I helped him buy a restaurant doing two and a half million in revenue. He's crushing it. He's going to host us. He's catering it.
• 1:09:17
  There's no agenda. Just meet there, meet each other, help solve each other's problems and help makers make even better. Love it. And it's the journey I think we will all go on the rest of our lives. And as makers, as these clear thinkers, truth seekers, it's like we have to put our own self up against that mirror and measuring stick to say, are we being scared? Is it dangerous or is it just discomfort? If it's discomfort, we probably should do it.
• 1:09:41
  If it's dangerous, okay, I don't want to be on a motorcycle crotch rocket because I'm probably going to die on that. Okay, that's dangerous. I don't need to do that. But hey, can I do XYZ? Can I do a mountain bike thing? Right? Okay. It's just comfortable. It's hard. I don't know how to do it. I don't know if I can, I should do it. I love that. And I was listening to you and then I was thinking also when things like that happen with me and usually I come up with the idea, I have the idea.
• 1:10:07
  And then I start, I realized that I don't want to do the operational thing. If I really drill down and get to why I am feeling like, oh, it's because there is some operational thing that is not what I really like doing. And yes, I could push it and make it happen, but I just don't really like at all. Most of the operational parts.
• 1:10:32
  So that's why I kept asking you, is there anything to understand if there is anything of that or is just lack of whatever self-confidence or whatever you call it? I had the nonprofit because it's all business owners. They're good potential mentors for the nonprofit. So I pulled in our executive director and his chief of staff to kind of help just think through it.
• 1:10:53
  It's not much. The restaurant owner was going to host it. We just need to send out emails and collect the yeses and nos and create a calendar invite. There's almost no effort behind it. So I don't think that that one was operational. But let's think about your point, period. If we're scared about operating, that means that we don't know ourselves to know we're kind of more creative worthy, either artist or investor.
• 1:11:14
  And if we don't know ourselves, we don't realize that other people are different. We're falling for the communist joke that we're all the same. Where there's operators that would go get so excited to go execute Pablo's vision as the operator. It would be the dream of their life to fulfill that. Or it's the dream of someone else to go operate this vision on throwing together this party of young people who have their own business. And I think it's by us not knowing ourselves, we then can't know other people.
• 1:11:42
  And then we live in this communist, well, it's all going to fail and we can let someone else do it and blah, blah, blah. We're all going to have a suffering, terrible life that I've witnessed in Cuba. That's the result. And this is why we have to, as makers, lean into the discomfort, do it, challenge yourself, go into why we are the way we are because of our childhood of poverty or stress parents or whatever it was that triggered and resulted in who we are today. Boom. Love it. Any other topic? So let's go back to my buddy who owns the business I went skiing with.
• 1:12:11
  This was yesterday. I'm skiing with my two oldest kids and his two oldest kids. And he basically said, Peter, I challenge you to not live your life differently than kind of being able to go on a Wednesday ski trip, being involved in your kid's life, being in good shape, all this stuff, while still executing in pure warrior mode on a business. Because I just watched someone that couldn't do it.
• 1:12:31
  And he's traded that off. And he went from the soul journey for two years after selling a business to suddenly back in the grind. He's lost that spark. When we have those conversations, it's not as deep and it doesn't have sparks. So he challenged me. He's like, I don't know if he said, I don't think you can or I'd encourage you to, but it got my brain going. And it really helped me crystallize. Okay, if I believe that, then I need some rules. And what are my rules? I need an operator that's super aggressive. Yeah.
• 1:12:58
  How can I determine if it's an operator that's aggressive? Define aggressive. They're going to go through the walls. They're going to keep banging through. If they can't get in the front door, they're going to the side door, back door window to solve a problem for a business. Okay, yes.
• 1:13:11
  Well, what's the way to do that? I heard this from a venture capitalist who's been building a studio venture capital firm for 10 years. It's done really well. But he goes, I think I already said this on the pod. I go, what's the biggest thing you learned in 10 years? He goes, one rule, never invest in zoo animals. I go, what are zoo animals? He goes, it's someone that's been in corporate America.
• 1:13:28
  big roles, big titles. But when you open the cage and put them out in the wild, they don't know how to feed themselves. They don't know how to function. They're really pretty to look at in the zoo. They have the big titles, the good LinkedIn pages, but they don't have that function. So when he said that, tying it back to the point with my buddy, I thought, I will only start a business or partner with someone who wants to do it without me. They're willing to do it without me. They're going to go either way.
• 1:13:52
  Say that again. You will only partner with someone that they're willing to do it without you. Correct. Why only? Only is a strong word, but I will aim for those people because their conviction, their confidence, and their willingness to find solutions, that's a signal that shows how they think or how confident they are. That's point one. Yeah, that's good. Yeah. So I go back to only. Is it only or you are willing to compromise on that?
• 1:14:20
  What I want to do is ask them if they would, because some scenarios, like they don't really have the opportunity, right? So I basically want to say, would you do this without me? And if the answer is yes. I think you have to find a better question, similar to aiming to do the same thing, but... Could you do this without me? No. Would you? I think you need to remove yourself from the question. Okay. Because by you asking the question, there is some kind of...
• 1:14:45
  pressure. But I get the point. Yeah. All I'm saying is you need to find, in my opinion, a better question that removes yourself from the question.
• 1:14:52
  Yeah, it's a good feedback. So one is like, are they set on doing it? And I love the zoo animal story from the venture capitalist. I love thinking about that. Right. So that's one. By the way, the reason why I was asking you this, because so we spoke and I don't know if you're going to publish these episodes, but we spoke about starting a company together. Yep. Then when friends asked us about this and they said like, Pablo, would you do it? If Peter says no, I'm like, no. And thinking like that, I was thinking.
• 1:15:21
  Now that you said that, I put myself in that position. I'm thinking, yeah, you should have never partnered. Partner, okay? Yeah. Partner with me. In that way. Yeah. Maybe like, hey, come and help us an advisor or help us a friend, whatever. Yeah. But then I am also thinking, now let me give you another example, which is with the creation of the community. And I don't think that you would have started this community without me. Yeah.
• 1:15:50
  I don't know if this is true for everything. I'll tell you why it's wrong. Okay, go ahead. Because he tried. He went to them. He said, I want to start this whole new way to operate. Yeah, and then he didn't do it on his own. On his own. And I think that's where your feedback's right. Where it's like some of these people... I think that it depends on what are you bringing...
• 1:16:16
  here to the table. I am thinking about, for example, an operations manager that I used to have. So a COO that I used to have several years ago. Operations managers, usually they're not visionaries. Yeah. But when they can see the vision, they're like, oh, got it. Let's fucking go. So you have to be careful because
• 1:16:39
  What kind of person is the person that you are looking to partner? Another also question is if the person is a badass operator, why you need to be a partner with that person? And again, this is maybe your communist thing that you want to just lower your standards and you want to give equity instead of... Just an employee. Giving, how do you call this? Like vesting or whatever? Yeah. I would only do vesting on any business, including for myself on it to protect them. Like it's a... Oh, there we go again.
• 1:17:09
  No, no. Actually, you're right. Jesus Christ, Peter. Falling back as a drug. Can you just run by me before you just... No, seriously. Can you please... Every agreement. Compromise? Truly. I'm not laughing on this. This is definitely a... Pinky promise?
• 1:17:28
  Pinky promise. Good. The pinkies have been attached. The blood has been spilled from both of our pinkies to confirm. No, dude, you're right. But look at this. That's knowing thyself and living accordingly. What does living accordingly mean? Go check with my pit bull, Pablo, to let him tear apart me and my partner by being like, no, Peter, you're an idiot. Like, you need to structure it this way. This is not, this is not, the way you're doing it is not a good way.
• 1:17:55
  Yeah, so coming back to the, I would only partner with people that would do it without me. We do it on their own. I think that it depends. Because I was like, that's wrong. Then I'm like, oh, I think that you're right. And then when I started thinking about some examples, I think that it depends. It depends a lot.
• 1:18:15
  Now I understand about corporate America and that kind of, how do you call this? Entity, persona, whatever. Yeah. I get that. I understand that because you want to run an entrepreneurial business and you are bringing someone that needs the corporate stability. It could work, but the likelihood that it's not going to work, it's higher than what you maybe want to tolerate. Yeah. I think what's interesting on your point is
• 1:18:43
  with the friend we were talking about in a project you're working on, he showed initiative to do it on his own, whether or not it was successful and whether or not he continued. And then I do agree with the vision part. Once you show the vision...
• 1:18:56
  if it all clicks, is that person like, I want to go do this? Like whether or not you were like, I want to do this, right? And how to communicate that. Maybe it's, hey, if I passed away or got sick and couldn't do it, would you still go forward? Like there's something about would you still go forward? I think you're right. The exact wording I can figure out, but there's something deep. So the venture capitalist told me his new rule is,
• 1:19:18
  They will only invest in a studio business and launch it if the founder would do it without them. And I love that because it's a flip. That's number one. Not sure that I agree. Not sure you agree. That's fine. You're wrong a lot. Wait, one second. Before that, I think that it's very important for you to understand what kind of person are you partnering with? Is this an artist? Yeah.
• 1:19:37
  Is this an operator? Is this an investor? I think this is very important. It is very important. I know myself, know thyself and act accordingly. I have to always partner with an operator. No, I have to always. I should almost always partner with an operator. If it is an artist, we need to have an operator as well. So it will still be an operator as one of those partners.
• 1:19:59
  I think that you are right on that sense that you need to partner with an operator. But then I think that you need to, and again, I'm going to check all the contracts before you sign them, right? But it's very important. Not all operators are made equal. Correct. My friend, the operator that we partner for the community, he's in a total different stage of his life than he was 10 years ago. Experience, knowledge, execution. He sold a couple of businesses. You're totally right. Yes. So...
• 1:20:27
  And I could not have the experience. And by the way, this is a nonprofit. So it's a totally different thing. I wish it's not like, oh, you are 10%. I am 90% or anything like that. But if when you're talking about for profit, you have the tendency to partner with people that have not yet been successful. Yeah. Nothing wrong with that. You like doing that. You like mentoring people. You have interns. You like all that stuff. Or maybe it's a limiting belief also.
• 1:20:56
  You're right. It holds me back. Why? Because if I'm partnering with someone who can teach me rather than only people who I'm teaching, it accelerates the execution mission, potentially. It has the potential to do that. And I think that here is the important part. If you are partnering with an operator that sold businesses and whatever...
• 1:21:16
  then you may do a 50-50. Yeah. But if you are partnering with an operator that it's an up and coming, had a couple of hassles, couple of good ideas, you're putting all the money, you're putting the vision, they're putting the hands. Yeah. And you're going to have to put some time to train them and to develop their brain and so on. You should own 99.99% of that business. Yeah.
• 1:21:40
  with some investing schedule that they need to hit certain tigers and certain targets. And then those targets convert into equity or some shit like that. I'm laughing on a couple of things. One, you and I, like in our own minds, one or at least the utility of an additional dollar, you can always make more money, but it just doesn't change our lives. So what do we do? We go start nonprofits.
• 1:22:04
  flipped it from only doing for profits to we're founding nonprofits with passion. Well, no, I disagree with you. I think that what we, in your case, found your nonprofit or in my case, found this other nonprofit is connected. At least in my case is what is the structure that is going to allow this organization to be ultra aligned with everything?
• 1:22:33
  And the community that I am building, unless it's a nonprofit, it will lead eventually to misalignment of interest. Period. Totally agree. I'm not saying in a deep way of I'm only going to do nonprofits. I'm saying the fact that we are business people and you can evolve into alignment of the mission or the purpose, right? These are for both of us, it's scratching a big purpose component.
• 1:22:58
  Yeah, I take this as philanthropy. Yeah. So philanthropy, for those that don't know, means love for humanity. And to me, this community is an expression of that. That's what the word means? Because phil is love and then anthony is people or community? I don't know exactly the difference, but that's what it means. Beautiful. Love for humanity.
• 1:23:21
  So people think, oh, I'm a philanthropist. I donate whatever, three checks of $10,000. What a philanthropist I am. Are you? Yeah. Or you are just a check writer. You have no fucking clue where your money is going. Yeah. And whether or not it's actually positively or negatively impacting or if it's just paying salaries of employees.
• 1:23:40
  Yeah. What if your money is going to these dodgy NGOs? Yeah. Are you really being a philanthropist? Let me pull back to starting. And these are agreed, denied. Wow, Peter, you brought us back. I love that. I love that. Yeah. So it comes back the whole way. So a guy I'm skiing with, with our kids, he challenges me. How do you start something where you don't give up who you are? And these other areas of wealth you're focused on, meaning time, wealth, relationship, wealth, everything else.
• 1:24:09
  So here are my rules that I'm working through. One is, would they do it without me? And sure, we could tweak it and maybe it's not perfect, whatever. But this is one I'm thinking through. And even with your friend who you're talking about, the nonprofit you're starting, he tried to do it without you, right? That's a check for me, right? Like he made an effort. He doesn't need you to hold his hand. And he's not a zoo animal. Number two, have they been broken?
• 1:24:33
  Right. And most people are like, who's been successful? Have they been broken? So I think about like some of the things, the guy who's starting the nonprofit with us, he dropped out of school in fifth grade for a year because he was bullied so much.
• 1:24:43
  Amazing story, right? So what do you mean is how did they go through struggle and they came through the other side? Okay. Yeah, struggle to the point where you're like, oh man, the ego or they physically almost died. They lost a parent at a young age. If they can't point to a place where they've gone through their ego death or some kind of deep, deep struggle, they haven't lived enough life for me. That's two. Those were the two. And I think there might be a third that, oh, we have to have an edge.
• 1:25:12
  Like if there's not a clear edge, right? So on this kind of Berkshire business, it's like the edge might actually be that I just know everyone else is so profit driven. I need to make it in three to five years. It's an edge because they can't unwire their brain. I see. To think this other way.
• 1:25:31
  And not can't, they will likely not. They will not. Meaning 99% of people are not going to unwire their brain to have my perspective. Like, I never want to sell a share. That's what I want to do forever. But not only that, it's not about unwinding. It's literally changing the business model to be more philanthropic. Yeah.
• 1:25:49
  Our friend Anastasia says, moving from mercenary business to missionary business. To missionary. And so having an edge is a very broad category. That could mean you have a contract that no one else can get because you worked at the company and now you're going to start your own thing and you think you can serve it. That's a huge edge, right? It's a moat.
• 1:26:08
  It could be you want to be suffering, right? The meaning of passion is to suffer, right? So that is my passion, this area, right? Because I was a little kid and I suffered from this problem. It's my passion to solve this. So I want to be suffering for this problem. That's an edge, right? So the edges can be different things that you have as some kind of moat.
• 1:26:30
  That you look at the world and you're like, this is a real competitive, like, whether it's mental, whether it's an asset, a relationship, a contract. Those are the three things I've kind of, and not finalized. These are the initial thoughts I'm trying to isolate around of like, what are key categories or themes of both successes and failures that I did or didn't have? And partnerships that I did or didn't have? And how do I pull that together? What do you think? Bring out the chainsaw.
• 1:27:01
  I think that all that you just said is bullshit. So, no, I think that is great. I think that is fantastic. And I think that, but this is all theory.
• 1:27:21
  And I just wonder, are you really going to go through this? But let me share with you, in my opinion, what would be the best situation for you. The best situation for you would be to partner with a great up-and-coming person
• 1:27:44
  but great. Like our friend, that incredible entrepreneur, someone with that kind of magic. And you partner with a person like that where you,
• 1:27:56
  You create a deal because you have the ears. You went through a lot of things. You have a lot of experience. You have a lot of, how do you call it, like medals. Yeah. Battle scars. So that is a massive contribution for an up-and-coming person that, let's say, maybe this person has some proven track record of all these things. This person struggled a lot and came alive through the other side. Fantastic. And all the other things that you mentioned, I think those are great.
• 1:28:24
  But I think that is very important. How are you establishing these businesses in terms of the incentives, as a good investor would do in terms of the capital? Who's putting the capital? How are you putting the capital and so on? And then how are you allocating then your time to give the best investment?
• 1:28:47
  that you can give to these people so those people can just run with that and go for it. With the option to eventually become, I would say, 51-49% split. But you are talking about making it a fucking massive business. Yeah. And even then, it kind of depends, right? Because you're sounding more like me. Some of these people, it's the opportunity they would never get. And owning 20% of that with having a salary most of the time or all the way through is, I didn't have a salary for the first two years of my business.
• 1:29:17
  Yes, but what I mean is depends on the person, right? You may want a person that you understand this person is not just an operator. This person has a massive... In context, I just want to mention, what he was talking about is a 17-year-old that's no longer in high school that I met through the nonprofit that we've really helped. He went and raised $775,000. He has an amazing software business that he started at 17. And he just, he thinks differently. He's literally just made different.
• 1:29:44
  Yes, he's a fucking beast. Yeah. And he's going to be, I don't know, a trillionaire most likely. But all I'm saying is going to depend. But I think that that's where you would be the most successful because you as an investor, you can see these opportunities and you just need to bring them together in an incredible deal. Go back to the thing that you do the best, which is put a fucking incredible deal together. Yeah. With incredible incentives. Yeah. Yeah.
• 1:30:13
  And of course, you have to be careful, right? Because here is the part where, oh, you're giving a cushy, cushy salary right away. And this is why I want to make sure that I see the bullet points of the deal before you do anything. Yeah. I mean, seriously, because you're right. Too much comfort creates failure. It's actually discomfort that's way more powerful.
• 1:30:39
  I also still feel that you are getting closer to the finish line, but you're not quite there yet. And what I mean, the finish line is to really embrace this, to really crystallize this. You're right. Your unique ability and what you are great at. So that way you do not allow the bullshit to come in. Yeah. Dude, I can feel that when you're talking in my stomach. Like I know you're right. I mean this sincerely. When you said it to me, it took me 24 hours to fully digest it.
• 1:31:08
  And I think about it all the time. And we all have this. Everyone has these limiting beliefs that it's a prison we're living in, that we're looking out, thinking we can get through the bars, and we're just hitting our head against the bars trying to walk out. And it's like all we have to do is twist the key. In this instance, with you offering the key or saying a comment that was the key, and by surrounding ourselves with people that may make us uncomfortable or provide some discomfort, by thinking what to do to get the touchdown right, TD,
• 1:31:35
  Think what you're doing. Think what you're going to do. You can't just do the doing all the time. And this is also a very common thing that exited founders go through, right? You got to the finish line. You got that incredible, amazing exit event. You exited your business. You got a lot of money. And you are like, holy shit, I don't want to do this again. I'm exhausted. And then...
• 1:31:59
  It becomes dangerous eventually. At the beginning, yes, you need to go on vacations. You need to take care of yourself. You need to rebalance your brain chemistry as our friend Anastasia says. But then you start feeling like the each. Okay, I want to do something. I want to do something, but I am not going to blah, blah, blah, blah, blah.
• 1:32:17
  And then we start bullshit things. We start things half as cashflow businesses. We have the money. So we throw the money into an operator. We throw too much money into something that we would never, we don't even want to share these things with our friends because they will just tell us that that's stupid idea. I know. Yeah. So that is the challenge that we all go through as entrepreneurs.
• 1:32:42
  exited founders or people that made some money or a lot of money. Because now all of a sudden we have a lot of time in our hands that we do not want to give away to anything. And we also have money. So now all of a sudden we think that with money, we are going to be solving problems. Yeah. I'm just going to put some money here. I'm going to invest on this. So that's the part to be extremely careful.
• 1:33:04
  I think that's the point. Money doesn't solve problems. It creates different problems. People have different problems. It creates definitely different problems. Oh, yeah. The fourth one coming back to, so the guy said, how can you start a business without, or you can't, or I don't see how someone can. So I started thinking, so one is this, would they do it without me? Two is, did they die? Right? Did they have kind of their death experience, their ego death, their physical death, something really intense like that? What was the third one that I said?
• 1:33:34
  I don't know. I gotta remember. Anyhow. Okay. The fourth one stitched together is I love the high school hustle concept. Like most of these people have to have had that grit to where there was like an eagerness to make money. There's exceptions. It's not all.
• 1:33:50
  Some of them, it's like, look, my dad wouldn't let me do the hustle, so I had a job. But they did something exceptional already. One example of that would be making money as a high school kid. There can be other exceptional things, right? Maybe you were highest performer in a sport or some of these other things. But you showed your exceptional traits of going against the herd or a different path at a younger age, especially if these are younger people. It has to be a pretty young age. Even if they're older, actually, usually these came out early. Something really unique they've done.
• 1:34:18
  The other thing that I would add, I think that you need to find something that you are really excited. Totally. The challenge with you is that you get excited about a lot of different things. So that is the danger. Because how do you know that it's sustainable? Well, that was going to be my work. Sustain. Your point is everything you said about me is correct. I think it's, does it sustain? Yes. How do you know that? If I'm not thinking about it a month, it's gone. So where are you at with the Bitcoin company?
• 1:34:44
  I have 15 people I'm reaching out to to talk about it. So it's still in your mind? No, I'm having the third conversation with my favorite business. And he's very interested in the idea.
• 1:34:54
  But that's what I mean. You are still in your mind, still the energy is there. You still like it. You want to do it. Sorry, sorry. I thought you meant still in my mind, like I haven't started doing anything. Oh, it's still very much. Dude, it's the business that like... Okay. Because here's my thing, right? One, it brings my distaste for private equity and debt and ruining businesses and everything else that I experience. So it helps founders that have a business that should never sell.
• 1:35:16
  And by the way, in another podcast, you may hear because... Yeah, we can link to do the other one. Exactly. I don't need to get into all the details. It still is so exciting. The only two things that really have been on my mind, which I had a big breakthrough on the ski trip yesterday too, I had this most productive day is that idea. The only other thing that's been on my mind is creating something like an operating system for families.
• 1:35:40
  of how we operate and how to help people reach higher levels. You'd start with people with wealth and you could work down to somebody that's making 50 grand a year of how to reduce the divorces, how to reduce the bad parenting, how to unlock them to feel free and excited. And here's the deal breaker, the amazing thing. The guy that I was skiing with, he goes, why don't you combine them? Why wouldn't you build the lifestyle thing inside of a holding company? And it's so true. The guy who I'm having the third call with,
• 1:36:08
  We keep getting sidetracked. I told him the concept. He's like, I want to hear more. Can we do a call right away? This is so cool. He's like you. He works one hour a week. He's the founder, owns 100% of his business. He's got a great business. He works on the actual business like one hour a week. He was so excited by the idea, but he was even more excited to hear my non-conventional views on how to run a family because his kids are like 7 and 11. So we keep pushing back the business side because he's so excited to pull out the family stuff.
• 1:36:37
  And that's when it kind of clicked, right? Limiting belief, you have to pick one. Well, what if they were combined as one, right? What if the business that I'm helping to build or offer initially is just to the founders and then it goes to the whole companies and then it could be external, but it's like, how do you operate your fully fulfilled life? Yeah, I love it. And I think that you, like me, like our friend Anastasia, we mentioned her multiple times in this pod is the biggest challenge is unless you have...
• 1:37:04
  your operations manager following you around. Doesn't work. You're not going to get anything done. Completely right. Things are just, it's just going to be an idea here. And in six months, it's going to be the same fucking shit. You didn't do anything. And it's just an idea. Speaking of, should we give her that feedback? Have you given her that feedback? Anastasia? Yeah. Oh, dude. You said she needs a operator. She knows that we spoke about this. Yeah. Um,
• 1:37:32
  Yeah, I don't know. It's not a big priority for her to hire it, or I don't know exactly what is the reason. But she knows that she needs that. Totally. Because you're totally right. She's being an artist. She's got great content. But the same as you, right? I gave you feedback the last time that I was in your house. I told you what you need. Well, you asked me, and then I told you, and then you didn't hire anyone. We did. We did exactly your feedback. I have a chief of staff in the house, and her replacement starts. We just hired yesterday.
• 1:38:02
  very good then i'm very proud of you wait i'm saying this because i don't want you to think it's falling on deaf ears i want the producer cut everything that i said so i look fine okay i don't want i don't want look look hey producer i don't know how to say this directly just make me look really good and everything really good okay every time that i'm wrong just cut it together
• 1:38:29
  Look, Peter doesn't need to look bad, but he doesn't need to look great. You know what I'm saying?
• 1:38:37
  So I went to your house in October and you asked me for feedback. I kind of gave you the feedback. I said, you need to hire one single person that is your main point of contact. And that, then that person just works because again, you really like dealing with people. Yeah. I like people, but I really get drained about dealing with people. Yeah. Even though you have great systems, you just like it. You like, oh yeah, you can name five different people that you are meeting or that you are dealing with. And I'm like, I'm like,
• 1:39:04
  Just hearing you just drains my energy, right? That's me. Stop talking. I'm already tired. Yeah. But look at the beautiful know thyself. You're right about yourself. And you're also right about me, but it's to a detriment because I've gone too far. Exactly. That was my feedback. I saw that you are wasting so much time and energy and you have all these beautiful people, but they are not playing at this exceptional level. Yeah. And you need...
• 1:39:34
  a person that is playing at least one incredible operator that is playing at this level that you can say, I have this idea. I want to do X, Y, Z. I need your help. So as an example, with my incredible assistant, I had a conversation with her too late. I should have had this conversation way earlier that I should have said, Hey, listen, we decided that we are going to move forward with
• 1:40:00
  Please go figure out a way. And I had this conversation already too late. I think I might be misremembering, but in my opinion, too late. And then she's like, okay, yeah, got it. Leave it with me. I'm going to find the people. And okay, perfect. Perfect.
• 1:40:17
  And then she figured out, and for me, that was like, whoo, oh my gosh. Okay, great. Because I go from visionary, I can create, see the future to, okay, how do I make it? What is the next step? Do I need to incorporate a company? Do I need to interview this or interview that? What position do I hire? I need to go and investigate the market.
• 1:40:41
  Because in my head, you saw, right, I spoke with Chachy PD and, oh, you can hire these two positions. And then when I give it to my assistant, she realizes, I think that we can get one agency and the agency does the whole thing. Yep. I mean, I should give you this just way earlier. So today I asked in a group that we are together, I said, hey guys, I want to start writing books. I need a ghost writer. I shared that with my assistant right away. I'm like, hey, I want to do this. I need your help to get it done.
• 1:41:08
  I need to have that person, which is my incredible assistant, where as soon as I have an idea, I need to pass it to her. Where'd you get the assistant? That was your only contribution in my life. I knew you. That was an incredible contribution. It's less than I'm taking credit for it. It's ironic because I think it's the only time I remember you really pushing back on something. Oh, that was terrible. Yeah. And it was more of just like, I don't need that. I had one already. I did that with the business. Yeah.
• 1:41:33
  So just for context, when I had the business, eventually I hired an executive assistant. Oh my gosh, game changer. This person took care of organizing a lot of meetings. So that was great. So I was working a lot in the business and it was awesome. It was really awesome because it removed...
• 1:41:51
  most of the noise of working in the business coordination meetings cancellations emails and this and that then i stopped being involved in the day-to-day of the business so i removed myself from being in the business to just being on the most important thing on the business and then i'm like well i don't need an assistant the last assistant didn't work so we part ways
• 1:42:13
  I'm like, I don't need an assistant. I don't need an assistant. And then eventually I can't remember, I think I said, okay, I need someone, but I don't have enough thing, which is the typical mistake that most people that build a business, sold the business, they think like, I don't need a full-time, I don't have enough things to give the assistant.
• 1:42:31
  Not just people who built and sold businesses. Almost all people say, I don't have enough or what would I have them do? Most people, yeah, let's say people that have the money that can't afford, it can be even $1,000, $2,000 a month to have an assistant. We think like we don't have enough things to give the assistant. So, which is a total mistake, total mistake. If you want to hear an episode about that, just drop in the chat, put an eggplant in the chat so we know what you're talking about.
• 1:43:03
  So I hired a part-time executive assistant. Oh my gosh. It was great. It was great. I was giving her mostly projects about different things. She was doing awesome, but she was part-time. And then we took a flight together. We are in Dubai together. And then you gave me this feedback. And yeah, in turn, I'm like, ah, no, no, no, no. I'm like, I'm feeling the tension of resisting this feedback.
• 1:43:30
  And then I can't remember how much time it took me because of course, when someone is giving you feedback about something, of course you have all the incredible reasons. Of course you have incredible reasons why you are right, that you shouldn't do that thing that they are telling you. Right. And I think that is a big tell, humongous tell. Huge. It's like, Oh, are you resistant? Are you resisting this feedback?
• 1:43:53
  The person is not trying to sell you anything. Doesn't change anything for the person. And that's when what I realized, I think that I realized pretty, that maybe the next day or something like that, but very soon the following week, I would say, I'm like, oh, I need to do this.
• 1:44:09
  And my excuse was, well, my assistant is amazing, but she works with other 15 clients. Oh, yeah. She will never do this because she likes the independence and this and this and that. And my mistake also was I was thinking about my needs and my life.
• 1:44:29
  Based on her life. Yes. Yeah. You flipped it. It should be totally the opposite. I have to flip it and say, wait a second, what kind of life do I want? Wow. And then I realized, well, I want an executive assistant forever. Period. Yeah. 100%. And that's when I had the conversation. It was a very honest conversation where I said, I just came to this realization. I realized that I want and I need an executive assistant forever.
• 1:44:59
  Well, remember, because you were like, well, she works with four clients. And I was like, no, four, like 15. Have you asked her if she'd do just you? And you're like, no, but I don't think that's not what she wants. I was like, I think she would. I think you need to ask. And you called because you were like, dude, she's very excited about this idea.
• 1:45:16
  Yeah, I think that also it's a lot of fear underneath that. It was like, what if she says no to me, right? Or what if now I lose her? But then I started getting the confidence that came from realizing the kind of life that I wanted. And I realized, well, we're going to start having kids. We're going to be moving to another country. We're going to be doing this. Always going to be headaches. Jesus Christ.
• 1:45:38
  Like, of course that I need a person that works full time. Yeah. What am I even thinking? And that was an incredible decision. Unbelievable decision. Dude, it's so true. It's a deep unlock. And I think a lot of us, it's again, it comes back to, I don't deserve an assistant or I don't have that much or no one else would want to do these things.
• 1:45:58
  Well, I'm not sure about that. Not for you. I don't deserve... Okay. Dude, there's a lot of people. I get this all the time. People are like, dude, I have my assistant scheduling appointments all the time. And we had to reframe how she approaches them because so many people are like, no, no, no, I need to talk to the person. I don't do...
• 1:46:14
  a massage or a physical therapy appointment, whatever, without talking to that person. And so now, and my whole goal is no lying, right? And I think we had an episode on this, but there's three reasons I try not to lie and it's all selfish. I told her, you don't need to lie. But instead of calling as, hey, I'm Peter's assistant and explain this, it's, hey, how do you set up an appointment? What forms need to be filled out? So it's never about us, it's flipping it and it's only about them. What do you need filled out for a new appointment? What forms? What do you use
• 1:46:44
  And they're like, when are you available? What are the days you have available in the next week? So then it's just all that stuff gets done and I can show up. All right. We got to wrap. Brother, let's fucking wrap it. This big boy. Good call. Okay. Is this going to be your podcast? Number one. What do you think? I'm less concerned about the timing. I think chronological. We're probably getting better at building. And maybe that's a bias of just how people operate. Will you ever watch a podcast, Peter? Yeah.
• 1:47:12
  I don't know. It's a good question, man. We need at least two views, mine and yours, okay? Every podcast has two views. Dude, that makes me laugh really hard. That makes me laugh really hard. That's a really good laugh. Yeah, I will because some of them, I've had big breakthroughs. And I want to go back to reinforce them. Like, you've nudged me in a good way. I'm not sure that I will watch them. You didn't really give me any breakthroughs, so...
• 1:47:42
  Hey, the ghostwriter thing I want to talk more about too. I love that. Ooh. Okay. Let's leave this for the next one. Okay. Book ideas. Brother. Love you. Love you, brother. See you, man. Take care. Bye.
• 1:47:53
  Thanks for spending time with us on the Freedom Flip podcast. If today's episode gave you something to think about, make sure you're subscribed so you don't miss the next conversation. And if you think someone else could use a little perspective shift, share this episode with them. We'll be back next week with more ideas worth flipping. Until then, keep questioning the default.