This Guy Makes $1.3M Every Day (#490)
OnlyFans, Sacklers, Steve Davis, and Billionaires - August 31, 2023 (over 1 year ago) • 01:00:33
Transcript:
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Shaan Puri | This may not be the best acquisition ever but I'll be damned if it isn't up there | |
Sam Parr | yeah | |
Shaan Puri |
Right, like I think that he bought this... I don't know the exact number, but he bought a majority of OnlyFans for, I think, single-digit millions of dollars. Maybe low double digits. Possibly low double digits. But let's even say it was $10 million. This is now a more than $10 billion company.
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Sam Parr | I want to start the episode with a survey for the listeners, and we'll actually let John and Ben chime in. So, Ben, turn your camera on so I can see your face.
Alright, we're going to start with the survey. On Monday morning at 7:30 AM, I wake up to a text from Sean. Here’s what the text says:
"Hey, you got good topics for tomorrow? I just texted Emmett from Twitch to do a pod, and he said he'll do it tomorrow. So, I'm going to drive to San Francisco tomorrow and record an interview with him."
What I want Jonathan and Ben to do is give a thumbs up if you think that this text means, "Okay, in lieu of Sam and Sean recording together, I'm going to do one with Emmett." Or, do you think that this means, "In addition to the recording tomorrow, I'm also going to do one with Sam and Sean"?
Thumbs up for the first one, thumbs down for the second one.
Alright, great! I just wanted to make sure I'm not crazy, and I wanted to...
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Shaan Puri | oh ben the betrayal oh oh you too ben you too | |
Sam Parr | So, I thought that that's what it meant. When I heard that, I was like, "Alright, so I have some free time between 11 and noon."
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Shaan Puri |
Ladies and gentlemen of the jury, let me just say this: Would I say, "Do you have good topics for the pod tomorrow?" if we weren't going to do a pod with good topics together? I don't know... Seems like that might be something that, you know, we're going to do.
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Sam Parr | Alright, well, I just want to see what the audience thinks. So, whatever. I have a bunch of topics today. What do you have?
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Shaan Puri | I got, bro. You think you have a bunch of topics? I got, well, however many topics you have, add one. That's how many topics I got.
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Sam Parr | Well, I see a big list. You have a few interesting things. Do you want to kick us off with something?
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Shaan Puri |
Let's start with this. Yeah, so we've talked a lot about one business on this podcast, probably more than any other podcast has talked about this business. I would say **we are the champions** of this company. We are the ones out here letting people know that:
1. This company is legit
2. This company is big
3. This company is very interesting
Everybody's overlooking it, [but] we've been saying it for years.
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Sam Parr | are you even a paying customer of this company | |
Shaan Puri | I'm not a paying customer because I'm a married man but well you | |
Sam Parr | can be a married man you can't be a customer but like I've never paid for it | |
Shaan Puri | A paying customer, because free porn exists. I'm talking about OnlyFans.
So, OnlyFans' annual numbers leaked. Well, not leaked, actually. What happened was kind of interesting. You know this, but maybe a lot of people who are listening don't. Any company that is based in the UK, whether it's private or public, has to report at the end of the year a sort of financial summary. The bigger your company is, the more data you have to include.
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Sam Parr | basically like a like a public company you have to report like | |
Shaan Puri | Like a public company, in the U.S., if it's public, you can look up their information, maybe the quarterly earnings, or you can find their S-1. But if it's a private company, you're just out of luck; you're just guessing.
However, if you go to OnlyFans.com and scroll down to the privacy policy, you will see that OnlyFans is run by a company called Phoenix International Limited. What is Phoenix International Limited? It is a company based in the UK.
If you go to an entity called Companies House, that's where all of the company information is housed. You can look up Phoenix International Limited and then check the filing history. You will find several reports, including reports about directors replacing other directors.
But the one you care about is the one that basically says, "Here is the 2022 financial summary, year-end financial summary." When you go to that, you're going to see the following picture of a business: OnlyFans is a business that generated or collected $5.6 billion in revenue in 2022. Its take on that was 20%, so their company took $1.1 billion.
For every $4 a creator makes, they make $1 on that $1.1 billion in net revenue, resulting in $525 million of profit. This company is generating half a billion dollars a year in profit. After paying a little tax, the after-tax profit is still $400 million.
Then, the beauty of it is, if you scroll down to the balance sheet, right after the P&L, it says dividends. It shows that the owner, Leo, took $338 million in dividends last year.
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Sam Parr | oh my god | |
Shaan Puri |
And the year before that, he took like 200-something million. This guy has taken out **$550,000,000** of dividends in the last 2 years off this business, which is just incredible. Let me remind you, this is a company that he bought in 2018. This is 5 years [later].
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Sam Parr | what did he what did he he bought it do you know what he paid for | |
Shaan Puri | Non-public information, but he bought 75% of the business at the time for what I believe was a little over $1,000,000.
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Sam Parr | was he wealthy before that | |
Shaan Puri |
Yes, so Leo is kind of a gangster of the internet. And by the way, if you just go to his website... his website's awesome. So there's really two things I...
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Sam Parr | love about the website he's a listener I think | |
Shaan Puri | Well, that's one of the things I love about the website. If you go to his website, which is just his name, **leo radvinsky.com**, you will find a section called "Things I Like."
The very first category is **Podcasts**, and the first one of two podcasts listed is **My First Million**. So, he's a listener of the pod, which is just a cool thing—a fun thing to see.
I love his website because I appreciate when people sort of put up their flag and say, "Yo, this is what I'm all about." They make it really easy for you to understand: here's who I am, here's what I do, and here's what I'm into. If you're into those same sorts of things, we'll probably get along.
His main description states that he is a **software company architect**, **angel investor**, and **open source software supporter**. This guy gives **$1,000,000** a year to open source projects that probably would have died had he not done that. He is a huge supporter of open source software and is like a sort of **freedom entrepreneur**.
He wants to fund projects that increase the overall amount of freedom in the universe. For example, he funds open source social networks that are alternatives to platforms like **Mastodon**—networks that are not owned or controlled by people like **Mark Zuckerberg** or **Elon Musk**, or any private company that is closed source and owned by a mega billionaire. He funds projects that provide alternatives to those.
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Sam Parr |
And listen to this: if you go to his... So you see, he has sections about me, projects, open source, things I like. If you click "Projects," OnlyFans isn't even number 1 of the listed projects. It's number 2. And he just... it just says like one paragraph and it says what it is. But number 1 is some open-sourced project. That's what he has listed, yeah.
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Shaan Puri | Before X is like tools for rapid prototyping and development. You know, Microsoft discontinued Visual Basic, and Before X stepped in to try to make this happen. It probably would have died, you know?
Basically, when I looked into this, it probably would have died. Then, in 2019, he decided to put a ton of money into it just so this project could stay alive.
Under giving, he's like, "Yeah, I don't need a bunch of my time, effort, and money to causes I care about, including open source initiatives and traditional charities." My goal one day is to sign the giving pledge. To sign the giving pledge, you need a $1,000,000,000 net worth. I'm pretty sure he has like a multibillion-dollar net worth now.
I think he's achieved this goal because in the last five years, and you can go look at the company filings, but like in 2019 and 2018, the company has... he pulls out like $1,500,000 in dividends.
So in like a three-year span, he went from pulling out $1,500,000 in dividends to $250,000 and then $340,000,000 in dividends out of this company. This accelerated extremely quickly.
I think, like, you know, there are all these great tech acquisitions. There's like, you know, Google buying YouTube for $1,000,000,000, probably worth $50,000,000,000 now. Facebook buying Instagram for $1,000,000,000, probably worth $100,000,000,000 now.
This may not be the best acquisition ever, but I'll be damned if it isn't up there. | |
Sam Parr | yeah | |
Shaan Puri |
Right, like I think that he bought this... I don't know the exact number, but he bought a majority of OnlyFans for, I think, single-digit millions of dollars. Maybe low double digits, possibly low double digits. But let's even say it was $10 million.
This is now a more than $10 billion company. So he turned - let's just pretend it was $10 million - into essentially $10 billion of value. Personally. Not a fund, not a company. This is him. This is one guy.
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Sam Parr | Who owns the other 25%? Is there a story about him buying this and what he saw? Because, like, I would have... if this was me 5 years ago, I would have been like, "Dude, this will never work." I mean, everyone would have said that.
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Shaan Puri | So, it was already kind of working on a very small scale. This guy, Guy Stokley, was the founder. If you go look at Guy Stokley, he looks like an Instagram model. In every picture of him, he's flanked by seven women.
The story is that Guy Stokley's dad is in the finance world. He takes a small loan of about ÂŁ10,000 from his dad and starts OnlyFans. They kind of co-owned the business or whatever. So, it's like a father and son were sort of the origin of this.
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Sam Parr | good bonding | |
Shaan Puri | Yeah, some guys like golf, some guys like fishing, and some fathers and sons start OnlyFans. It's like, right? That's amazing. I don't know why he sold or when he sold, but Leo approaches them and buys the business. At the time, it was reported that he bought 75% of the business. I don't know if later he bought the rest; I suspect he did because there's one of these filings that guy Stokley has removed as a director in the company.
So maybe he just volunteered to step down. I don't know. You just, you know, at some point, you're just reading a bunch into these statements. You can't say for sure exactly how it happened, and this whole thing was very secretive. In fact, when I first found out about Leo owning OnlyFans, at the time, nobody knew who owned OnlyFans. It was not clear; there was nothing on the internet. This was several years ago, and I was trying to figure it out. I couldn't figure it out.
Then I get a message from somebody who's like, "Hey, I know the guy who owns OnlyFans, and he loves the pod." I was like, "Whoa, that's cool! I've been trying to find who owns this thing. I wanted to invest in this." And anyways, that's how we kind of ended up having a chat. You know, I want to meet this guy someday; he's got a really interesting story.
So now there's like a photo of him on the internet. He's a very private guy, but now a little more information has come out about him. Very early on, I think when he was a teenager, like 15 or 16 years old, he got into the business of first, I think, like domaining. So he would basically buy and sell like hundreds of domains, maybe thousands of domains. In fact, there's like a... he got sued at some point.
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Shaan Puri | Somewhere, there's a court filing listing about 1,000 domains that this guy still owns. It's just every variation of websites that you can imagine, many of which are in the adult category.
Then he created MyFreeCams, which basically took over the cam girl market. I think that site still makes great money. That's how he got very, very rich—off that site. He used that money to invest and parlay it into other businesses.
He owns a portfolio of these businesses, and now Phoenix International, which is OnlyFans, has become a major, major one. | |
Sam Parr |
This is amazing in a lot of different ways:
1. It's amazing that Companies House (which is always a weird name, I hate saying that it's "Companies" plural) exists, and it's one of my favorite places to do research.
2. It's amazing how fast this grew.
Would you invest in this company? Or do you not... do you like...?
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Shaan Puri | Yeah, I tried several times. You know, the problem is they didn't need any investment; they were making so much money. I was like, "Hey, I can add value," but I thought, "Am I really? You're crushing it. What am I gonna do here?"
Right? Like, "Hey, I'm a fan. I think I'm a good hang. Can I invest?" That's really ultimately what my pitch was. It's like, "I'm a fan of what you're doing." Unlike most people, I don't like... you know, at the time when I was saying this stuff, it was seen as very, very sketchy. It was sort of the butt of the joke.
Yeah, so I definitely would have invested in this. I wanted to, but they were doing so well that I don't think they ultimately needed any investment.
Now, the one thing they do need is liquidity. You know, he's taken massive dividends, which is great, but they could realize a several billion-dollar liquidity event if they could go public or if they could sell. But there's no buyer, and it's hard to go public with a business like this.
So I think, you know, I don't know what they're gonna do with it, but it's not a bad plan B to just suck out $100 million in dividends every year. It's fine. | |
Sam Parr | yeah I was gonna say is that what he wants I don't know why you'd ever wanna go public with | |
Shaan Puri |
I don't know if he wants that, but you always want the option, right? Like any business person would want the option. Whether you take it or not is secondary. In fact, most of the things in my life I'm pushing for, and people are like, "Hey, do you want this?" and I'm like, "Oh, I haven't even gotten there yet." All I want is the option.
If I have the option, then I could think... What I definitely know is I don't *not* want the option. I think that's just a better way to operate as a business person: to make sure you have the options on the table for you.
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Sam Parr |
At $400,000,000 a year in dividends, there's probably only 5 or 10 people in the world, or at least in America, who have higher income. I remember Steve Schwarzman from Blackstone one year made $1,000,000,000. And then the other guy... what's his name? Is it Griffith or Griffin? It's usually just like...
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Shaan Puri | penn griffin | |
Sam Parr |
It's usually like the top 5 or 10 hedge fund managers who make this, and if they're the best, it's fairly reliable. They're the guys who are buying the $100,000,000 apartments in New York, you know? Like the Bill Ackmans. There's probably only 10 of them, maybe 20, but that income... you'd be the highest in America, in the top 30 or something like that. You know what I mean?
So like, I don't really... I don't know, man. I would probably still own that. Well, this is cool. Well, I've... one...
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Shaan Puri | The thing that's cool about this guy, by the way, is that when I talk to him, you know, 80-90% of our conversation was not about OnlyFans at all. It was about these different open-source projects he's interested in.
He's very technical, very curious, and very interested. He was showing me, like, "Oh, by the way, check this out! I'm going to send you this link. You know, try this site out." It's kind of like this fringe niche site open-source project, but I think it's really cool for these reasons.
I just love that. One of the things I love the most about tech is that it redistributes wealth to a bunch of people who have different interests. So, when the wealthiest people were all from finance, you just got this homogeneous pool of rich people. It's like, "Here's a bunch of rich dudes that live in the same place and like the same stuff."
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Sam Parr | white guys wearing suits | |
Shaan Puri | **Alpha New York**: You know, power suit, watch-wearing, art-buying... greed is good.
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Sam Parr | guys yeah | |
Shaan Puri | And then, like, crypto made a whole bunch of other people rich, right? Because it was like, you know, a different type of person got rich through that. They had different interests. They're like, "Yo, I'm gonna spend money on this digital squiggle and this board ape. I'm gonna donate to this other thing and I'm gonna fund these types of projects and this type of worldview I'm gonna fund."
You know, tech companies were started by, you know, like Mark Zuckerberg. This guy didn't want to start a hedge fund; he wanted to do something else. And because he does that, now he can spend his money doing other things. Or Elon Musk, he's like, "I'm gonna fund companies that will do space travel when no investor would fund this. I'll fund it myself."
I love when wealth gets distributed to new pockets of people who have different interests and different values because they're gonna bring something new. It's not just the thing they created; it's actually all the stuff they do with their money that creates a hundred new things. That's kind of interesting to me.
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Sam Parr | I've emailed back and forth with them just a few times. I've asked them to come on; I think you have too. I don't know if that will ever happen. | |
Shaan Puri | Yeah, he's like, "I'm a pretty private person. I don't think I'll make a very good guest." But you know, well, okay fine, we'll talk about your dividends then, sir. You either come on as a guest or we find you on Companies House. That's the rules of this podcast. | |
Sam Parr |
Dude, let me tell you about another person that is hard to find information on and is really fascinating but really evil. Have you ever heard of the Sackler family?
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Shaan Puri | I saw that there's a documentary or a movie out on Netflix about them, or a show. But I don't know anything about them, so I'm in the perfect spot. I'm interested and aware, but completely ignorant.
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Sam Parr | So, there are two documentaries. One is called "Dopesick" and the other is "Painkiller." They're both actually fictional shows, and they're both really good. One is on Hulu and the other is on Netflix.
The story is about Purdue Pharma. I want to tell you a little bit about that, and then I want to discuss the early history, even before that, because that's more interesting to me at this point.
Basically, Purdue Pharma was started by three brothers: Mortimer, Raymond, and Arthur Sackler. They were in... | |
Shaan Puri | can you be named mortimer and not be evil like that's I mean wow | |
Sam Parr | and he's one of the evil ones and so basically these these three brothers I'll talk about their background in a second but basically they were in the medical industry forever since they started as doctors and then they worked at psych hospitals where they did lobotomies and they're like alright let's create let's start making these medicines and drugs and so after 50 years of doing this they eventually start or buy purdue pharma they buy it for not a lot of money but they it evolves over 40 years to where they create this drug called oxycontin oxycontin was basically it's an opioid and it wasn't popular at the time it was unknown they had a drug previously that was similar they changed it and they the big change they did was they called it a time released technology I guess so and they through a lot of just shady practices it seems like they bribed the fda they hired lots of ex fda people after they approved the drug and they promised them all this stuff they got the fda to approve oxycontin and the big thing was that they called it time release and they said that it was believed that and that that word believe is important it's the first time the fda ever said that it's believed that less than 1% of people who takes oxycontin will ever get addicted so what they do is they go and hire literally 2,000 salespeople who go to all of these hospitals these doctors these clinics and they say hey look we have this new drug it's for moderate pain it's you can you used to prescribe vicodin only if someone had surgery and had major pain or if they're dying from cancer we have this new drug very few people get addicted to it and has a time release capsule which means that it's really hard to get addicted to so you could give this to people if they just have like a sore back or if they have headaches like it's not that big of a deal and they train these salespeople and they're very aggressive about training they hold contests where you can win a trip to bermuda if you sell a certain amount of drugs you could do all these types of things where they would give like watches they would throw parties with hot girls like they did all this stuff but it was for medicine particularly an opioid which is incredibly controversial in my opinion very unethical and so they make oxycontin popular to the. | |
Sam Parr | Where the company is privately owned, it's owned by two families: the Mortimer family and the Raymond family. I believe Raymond's son, Richard Sackler, becomes CEO, and they grow this company to be doing like **$30 billion** a year in revenue.
They're also famous because, in order to help their reputation, they donate **$1 billion** or **100 million** (maybe **$1 billion**) to art museums. So, the Met in New York has a Sackler Wing, and like the Louvre in Paris, they have Sackler Wings as well.
These guys never went to Harvard, but there's the Harvard School or the Harvard Museum that's for the Sacklers. There's also Columbia and NYU; they've donated so much of their money to the arts. It's basically what they call "reputation laundering." They try to get into high society even though they're selling this drug.
Turns out, two years ago, I think the government finally cracked down on them and made them go bankrupt. I'm not sure where they are now, but they're very private. So, that's the story of Purdue Pharma. The book *Empire of Pain* is...
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Shaan Puri | Wait, so sorry. The end was that the government cracks down on them and it goes bankrupt. So, what did the government do? Because isn't Oxy still like everywhere?
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Sam Parr | Well, so what's... I don't know much about these types of drugs, but there's OxyContin, which is the brand name, and then there's oxycodone, which I think is the generic drug. Then there's hydrocodone, and there are all these forms of opioids. I think you could still get OxyContin.
But basically, at first, the government made them pay a $10,000,000 settlement. Then people spent five years trying to track them down and find one thing that they did that broke the law. It was very weird because they weren't actually breaking the law, or if they were, it was very hard to find which law they were breaking. The FDA kind of colluded and allowed them to get away with a lot of stuff. So technically, they kind of weren't breaking the law.
They got holed up in front of Congress, and what the government eventually does is say, "Oh, you lied to Congress because you said you didn't know it was addicting, but we found this email from four years ago where you did say you knew it was addicting." So that's actually what they got charged with. It's sort of like how Al Capone got charged with tax evasion, not for killing people. It was one of those things.
That led to a domino effect where eventually they had to pay something like an $8,000,000 settlement. The Sackler family had to give up control of the company, and they were no longer allowed to be involved in this industry.
So that's kind of where we are today. Purdue Pharma still exists, but not as it did before. We'll see if there's any actually long-lasting change with all that. It's a really fun story, in the sense that it's thrilling, in that they were just horribly unethical and did a lot of crazy stuff. Does that make sense?
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Shaan Puri | yeah I mean this basically killed 100 of thousands of people right like just through addiction | |
Sam Parr | It killed hundreds of thousands. It killed 100 out of 1,000 people directly, and then hundreds of thousands of people who took that medicine were killed.
What it led to is what we experienced in San Francisco and all these other places. You take Oxy, and then you're like, "I love this. I need more of it." Now, I need something cheaper and more accessible: heroin.
Then that leads to fentanyl, creating this huge opioid crisis. Purdue was like, "Hey, we didn't do that. We just prescribed OxyContin." These guys are dying from heroin, while everyone is like, "Man, it's such a clear transition here. You guys are definitely responsible."
So that's why it's like a thrilling story.
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Shaan Puri | At Harvard, there's still this building that is called the Sackler... whatever the Sackler Museum or whatever it's called is still up. It's kind of crazy that they haven't canceled the name off the building.
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Sam Parr | So here's where things get interesting, and this is what I want to talk about. I mentioned there were three brothers, but only two brothers owned Purdue. The eldest brother, his name was Arthur, and he died in, I think, the late eighties or mid-eighties. Basically, he was the eldest brother and he got them all into the industry. When he died, his estate sold his portion of Purdue to the other brothers, and those brothers are the ones who eventually created OxyContin.
Arthur's heirs are like, "Look, we had nothing to do with this." It's the same name, but we had nothing to do with this. Arthur was the one who liked to donate a lot of money to museums. So, same last name, but their argument is that it's different people. However, Arthur was incredibly shady, and I want to tell you his background. This is where things get really interesting.
Check this out: Arthur Sackler was the eldest brother, so he was the patriarch. He kind of brought his two brothers into the business. He was originally a doctor, but his first hit was as a doctor who started a medical advertising agency. He studied copywriting; that was his thing. He learned about copywriting through a traditional agency where he would work at nights and weekends in order to help pay the bills. He thought, "Copywriting is awesome! I gotta do this for Valium or this other drug."
All these huge pharmaceutical companies at the time, this was in the fifties, sixties, and eventually seventies, like Roche (I believe they were the inventors of Valium), started saying, "Hey Arthur, your little agency, we hear you have good ideas. What are your ideas?" He was like, "Well, we have to hire a sales force, then we're gonna create these ads. We're not allowed to advertise towards consumers, but we can advertise towards doctors." They popularized Valium by making it like an everyday drug. "Oh, if you're a little stressed, just like you would take an Advil..." | |
Shaan Puri | papa v | |
Sam Parr | Papa V, you'll be calm. They have housewives vacuuming in pearls, like with a Valium logo. He also popularizes his tranquilizers, making them well-known. He builds up this agency, but in secrecy, he does two interesting things.
First, he finds his competition. There's another medical pharmaceutical ad agency, and he buys half of it. What he does is eventually corner the market for pharmaceutical advertising. He secretly owns the other agency and will say things like, "Look, you don't want to work with us? Fine, go to our competitors. They sound like they're a good fit for you." They collude together on how to market and which techniques are working.
The second thing he does is create something called the Medical Tribune. It's a bimonthly newsletter for doctors. He enters the newsletter industry with a free publication that is eventually read by 300,000 to 500,000 doctors. At the time, no one knows he owns it, but he starts using his original company, McAdams, for advertising. He buys ads in the Medical Tribune, and through this, he creates two huge companies. That is how he builds his original fortune.
I went and dug through Newspapers.com, which is one of my favorite sources for old newspaper clippings. I found some numbers, so check this out. McAdams—sorry, I called it McArthur; it's called McAdams—when he died, the company was doing $170 million a year in revenue, and that was in 1985. I believe it had 170 employees. His other company, Medical Tribune, was not sold for a significant amount of money; it actually sold for around $70 million to Axel Springer, who also bought Morning Brew, our friend Austin's company. So I've been giving him a hard time about this. | |
Shaan Puri | austin sackler | |
Sam Parr | Yeah, for sure. Austin Sackler and so annual revenues for Medical Tribune range between $50 to $80 million in the last few years of existence. This was in the late eighties, and adjusted for today, that's around $150 to $200 million a year.
He also, while he was doing this, was buying... he owned like three New York City townhomes. He was making seven, sometimes eight-figure dollar donations to art museums, and he had an art collection valued at $60 million when he died. I think he was 75. That was in the late eighties. He was worth around $150 million, which today is around $400 million.
Maybe five or six years after that, that's when Oxy was created. But besides the fact that these guys do illegal, horrible, unethical things, what's crazy is this guy owned two companies that were doing close to each of them over $100 million a year. It was medical advertising and a medical newsletter for doctors, and he and his wife owned the whole thing. So, like, super fascinating background story about how this guy originally got wealthy.
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Shaan Puri | Wow, prolific... prolific family for sure. That's a crazy story. | |
Sam Parr | It's crazy. A lot of the stuff about the Purdue family or the Sackler family is related to OxyContin, and I thought that was interesting. But what I found really intriguing was looking at it from an entrepreneur's perspective—how to get started.
So, I did all this research where I dug deep. I used this tool, a historical money calculator, which helps you calculate how much money is worth today. Then, I looked at real estate prices from the seventies and eighties in New York City. I found out how much they were paying for homes, and I basically reverse-engineered the income from this medical newsletter because I was just curious about how it works.
By the way, I think that model still works today. There was another company—I don't know if you remember this—that used to give out free TVs to doctors. These TVs had skeletons on them, and you could move the skeleton around to show, "Alright, your [anatomical issue] is actually right here," and then zoom in on that. But on the TV, there were ads for drugs. This company eventually got in trouble for fraud; it turns out they were lying about a lot of stuff.
The pharmaceutical industry is so interesting to me because it's something that we're supposed to trust. It turns out a lot of it is just bullshit and just as shady as someone might say that this "My Free Cams" website is—or even worse. It's really fascinating how this whole industry works.
Medical newsletters are super fascinating. A legit company, Axel Springer, which is a $5 billion German newspaper company, bought it. So, I actually think these models still work today. If you go on TV, are they...? | |
Shaan Puri | still running by the way or no | |
Sam Parr | No, they shut it down. I believe they shut it down and like everything involving Sacklers, people don't want to have anything to do with it. But if you're on... do you ever watch cable TV?
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Shaan Puri | yeah sometimes | |
Sam Parr |
Dude, it's only car commercials and drug commercials. That's like all it is. It's like Cialis and... It's so... Anyway, this pharmaceutical advertising industry, it's... I would never enter it, but it's really fascinating how it's done. It's incredibly lucrative. It created this fortune, and I think it could still create more.
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Shaan Puri | Well, I put this out there before, which was that we get asked a bunch about, "Hey, I'm doing a newsletter. Can you help? Can you invest? Can you advise?" Whatever.
And we've basically, I think both of us say no to pretty much all of them. The one that I think is interesting still, or the two areas that I am interested in, are: who's doing an amazing job of this in real estate and who's doing an amazing job of this in the newsletter for doctors. Those are the two that I really care about.
I'm like, I really want to find whoever's doing a great job of that and, you know, invest, advise, or partner with them to help make that bigger. Because I think those spaces are amazing spaces if you have the right person doing it the right way. There's a lot of nuance to it, but yeah, I still think this idea would just work again.
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Hubspot | And they sell for huge multiples. So, Aging Media did this for nursing homes, so somewhat senior living. Yeah, yeah, somewhat related. I don't remember the multiple, but I heard rumors it was like 15 times profit, which is really great.
These businesses are still super lucrative. I think what Arthur did, whether you think that's good or bad, the way that he did it, I think is bad inherently. I don't think it's bad, but the way that he did it is still incredibly lucrative.
Our software is the worst. Have you heard of HubSpot? See, most CRMs are a cobbled together mess, but HubSpot is easy to adopt and actually looks gorgeous.
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Shaan Puri | I think | |
Sam Parr | I love our new CRM. Our software is the best: HubSpot. Grow better!
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Shaan Puri | let me tell you another story about a a smart weirdo alright so here's here's the smart weirdo here | |
Sam Parr | episode smart smart weirdos / maybe bad people | |
Shaan Puri | This guy, I don't think, is considered bad, but he's my "Billy of the Week." A $1,000,000 isn't cool. You know what's cool? A $1,000,000,000.
Okay, so we've had multiple contenders. This is a "Billy of the Week" runoff. Actually, maybe this is a campaign. But this guy is doing something interesting. His name's Steve Davis. You probably don't know who that is just because it's a fairly generic name.
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Sam Parr | and if you Google his name it's a it's a professional snooker player what is that pool | |
Shaan Puri | yes | |
Sam Parr | it's like snooker pool | |
Shaan Puri | Some kind of like pool... if you had, you know, the wrong color balls or something.
So this guy is Elon Musk's long-trusted right-hand man. Let me tell you about this guy. He joined SpaceX back in 2003, so very early on. Crazy background! He's got a twin master's degree in particle physics and aerospace engineering, right? So, you know, the guy's got a dome on him.
But I think what he was doing... I think he was doing something completely unrelated. He was one of the first employees that ended up getting hired by SpaceX. For some reason, I feel like I remember he wasn't working in the industry; he was doing something else, and then he got hired.
The stories about this guy are kind of legendary. So when Elon bought Twitter, people were like, "Who's he gonna make CEO?" A lot of people were like, "It's gonna be Steve Davis," before he put the lady from NBC in charge, which was sort of a weird pick. It seemed like it was gonna be Steve Davis. Why? Because Steve Davis was living and sleeping in the Twitter office with his wife and their newborn child.
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Sam Parr | my god dude | |
Shaan Puri | like 3 weeks later | |
Sam Parr | what a brownnoser | |
Shaan Puri | Intense. So, this guy—if you go read the stories about him—it's like folklore. One person said he has been working 6 hours a day, every single day, 7 days a week, for years.
Another person said he's insane; he gets more work done than 11 people working together, just by himself.
One time, Elon Musk was involved in something with the production of a part for one of the rockets. This was a $120,000 part, and Elon said, "We need to get this down to $5,000." Nobody was on board; everyone was like, "What are you talking about? Yeah, of course, I wish it was free too, but that's just not how things work."
Elon insisted on $5,000 and then just left the room. Steve Davis took that as a personal challenge. He worked for months, trying to figure out how to do this for $5,000 instead of $120,000.
He ended up getting it done for $333,900. He figured out a way to do it and emailed Elon, so excited: "Elon, we did it! After months, we figured out how to lower the price of this part down to less than $4,000. You said $5,000; we got it out at less than $4,000."
Elon just replied, "Okay."
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Shaan Puri |
It doesn't matter. Steve Davis is undeterred from this, and he just keeps going. He's become the CEO of Boring Company now, so Elon's... you know, 3rd company or whatever that he created after all that, right?
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Sam Parr | He's got space, and that company is legit, right? The Boring Company, they actually are making stuff, or is it just a t-shirt company?
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Shaan Puri | No, they are doing things, but there's a lot of criticism. Like, "Cool, how's that tunnel going?" Right? Like, where's... what's going on? You dug this tunnel, but it's only compatible with Teslas, and they have to put on roller blades before they go through it. It's like, I don't know, this seems kind of **shitty**, right?
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Sam Parr | Dude, I want my cities to look like Swiss cheese—just holes all over the place. Like, what's going on? You're just selling flamethrowers?
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Shaan Puri | and so you know on one hand they have improved the speed of of boring of actually digging the tunnels but the reason I found this guy interesting so not only is he like elon's right hand man that you haven't heard of that you know I find that interesting not only is he probably worth maybe $1,000,000,000 at this. Like based on this you know spacex stock has appreciated like crazy since 2003 but this guy's totally weird so he just is he's got a great sense of humor that he takes to business okay so he basically elon sends him elon trusts him right he's like hey we need somebody on the ground in you know he's got like this like city in texas and like at one. He sent him to dc for a lot like you know they needed to be near dc because a lot of their contracts are government contracts so he sends steve out to dc from california and steve's living there he's doing his job but he's like god you know what I miss I miss just having great frozen yogurt he's like they don't have that dc he's like all I got is this crap I miss the california frozen yogurt you know what so as a side job from his very important job at spacex he opens up a froyo shop called mister yogato and he that just opens it up he goes and he works there after work for fun what and so he goes and he works there and he starts to make it fun for himself he creates just a bunch of ridiculous policies so if you go to mister yogato if you can stump him with a seinfeld question your froyo's free if you come in dressed as a bjorn borg or whatever the like tennis player you or not I don't know if he's the type of he's a he's a musician or something you get 25% off if you let him stamp mister yogato on your forehead 10% off and so he created this long list of rules essentially on the secret menu for what he could do and then when he had to leave he had to move away you know spacex needed him in some other place he's like ah shit I'm not gonna be able to go work in my yogurt shop after work okay hey come whoever comes to mister yogato today one of you is gonna get the shop for a dollar he just gave the shop to some guy for a dollar at the end he's like here's the keys the only rules I wanna keep you know being able to come here and eat half off and you know and also you gotta keep some of the the the the the rules alive like if you can recite a speech from braveheart in a scottish accent 20% off and so he so he does this yogurt shop he also dude the up at one. | |
Shaan Puri | The | |
Sam Parr | The headline, if you Google "Mister Yogato," is from an article in the Washingtonian. It says, "Twitter's next CEO might be the Mister Yogato dude."
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Shaan Puri | Yeah, he goes, "Bro, like the rules are amazing. You should go look at the rules."
Rule number 8: Anyone wearing a kickball uniform and has played hard, evidenced by dirt on their knees, will automatically receive 10% off their yogurt.
Additionally, anybody who can reenact the 47-second Michael Jackson "Thriller" dance gets 20% off. If you perform a shorter choreographed dance, you can get 10% off.
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Sam Parr | This is actually genius, by the way. Order a yogurt for 30 consecutive days and we'll name a flavor after you. I mean, this guy's awesome.
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Shaan Puri |
Yeah, so he's having a good time. Then he opens up a bar called "Thomas Foolery" (short name: "Tomfoolery"). And same things, instead... you know every bar has a happy hour? He created the "angry hour" where if you shout your order of the drink to the bartender angrily, you get a discount on your drink.
You know, they served like cookies and ice cream at this thing, and he's like, "This is a place where we're gonna take you back to being a kid, but with alcohol."
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Sam Parr | my god | |
Shaan Puri |
And I was like, "Dude, I love this guy! This guy is hilarious and weird in all the best ways." I just went down this rabbit hole because this guy kind of fascinates me. There's nothing about this guy really on the internet. Nobody does interviews with him. People discovered this Mister Yogato thing, but there's not much out there about him.
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Sam Parr | how'd you find the | |
Shaan Puri | Bar thing a few times, that's like, you know, part of just digging in. What are some of the other craziest things that this guy does?
When they announced the Boring Company, it was a press conference with Elon [Musk] and some guy—Steve Davis—sitting next to him during the talk. What they did was to make their... This is, I kind of love this marketing.
They asked, "Why did you create the Boring Company?" and he was like, "Well, in like whatever, a hundred years, we haven't gotten any faster at drilling. We're still the same speed we were like 50 or 75 years ago at digging these tunnels. Nobody's done anything innovative."
During the press conference, it was them talking, but around them was a circular track. On that track, they put a little snail or a slug or something, and it was just walking around the track super slowly to represent how slow this industry is and how slow other people are drilling. At the end of the two-hour seminar, it was still only halfway around the thing.
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Sam Parr | oh my god | |
Shaan Puri | They're like, you know, "That's the industry today, and we're gonna change it." I love these little nuggets, these little sort of marketing gimmicks that make a... in the simplest, most memeable, viral way possible. You know, I gotta give Elon credit and this guy Steve credit for how they do that.
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Sam Parr | where where did he work before how do you get a job with elon | |
Shaan Puri |
Well, just early on, you know, if you have a twin master's degree in particle physics and aerospace engineering, there's not that many places to go work. You work at NASA, or you work at Boeing, or you go work here, right?
So he got a job there early on and just started grinding like crazy. That's why even now, he just sort of grinds like crazy, sleeping in the office with his newborn child. His wife just gave birth.
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Sam Parr | I have a rule. We have a rule in our house, in the Parr house, where I will only sleep under another man's roof for one night. If it's my father or my father-in-law's house, he gets two nights.
I don't like sleeping in another man's home; it's the most emasculating thing on earth. I can't imagine moving my wife and newborn baby into the Twitter office. Can you? That's my boss's house. Yeah, my boss's house. Like, Eli's like, "Hey, how's our wife doing?"
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Shaan Puri | you're like a billionaire too you're not like an intern | |
Sam Parr |
Yeah, you're like... I don't even... I don't stay at another man's house. I don't even like staying at my father-in-law's house, let alone staying at the Twitter HQ. Can you imagine? With a newborn or a baby? I can't imagine that. That's not for me, dog.
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Shaan Puri | what what's your phrase cornrows and face tattoos | |
Sam Parr | yeah | |
Shaan Puri | it's not for me but I'm glad freaks like you exist so I've got it exist | |
Sam Parr |
Sleeping at the office with my wife and baby? You can have that. I'm happy you exist, but that ain't for me. Is there any part of you that is envious of this guy? Because I don't find any amount of envy other than I appreciate his sense of humor.
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Shaan Puri | oh yeah I think this guy is great I think do I wanna be him no | |
Sam Parr | that's what I mean | |
Shaan Puri |
Do I think that this guy's... you know, this guy's interesting and seems like he thinks differently. I think I could learn or be inspired by it.
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Sam Parr | sure for sure | |
Shaan Puri |
For example, I went deep. So, one of the things he did while he was working at SpaceX and they moved him to DC... In addition to the yogurt shop, he went to George Mason and got like a PhD. I found his thesis paper and I read it, which was very hard. I don't want to go into too much detail on it.
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Sam Parr | how did you find this yep I when I'm googling him I can't you can barely find anything it's the same like 4 photos | |
Shaan Puri | just a lot of grit and determination | |
Sam Parr | you're the steve davis you're the steve davis of researching steve steve davis | |
Shaan Puri | Exactly. I applied to searching and researching other great men more so than being one myself. | |
Sam Parr | I slept on your couch for literally hours to find this. I ignored my newborn child also.
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Shaan Puri |
So I'm just going to read you two things. First, the paper. The reason I really liked it is it's about the debasement of the US currency. I think he wrote this in... what year was this? It's basically very early. It's like kind of early Bitcoin days. So let me just see...
Steve Davis, "Debasement." Yeah, 2010. And his paper is called "The Trend Towards the Debasement of the American Currency," and he talks about debasement.
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Sam Parr | does that mean it's at the bottom does mean devaluing | |
Shaan Puri |
Devaluing... So, you know, he talks about the history of... basically, you know... I don't have my notes in front of me now, but like, one of the things he talks about is... you know... did you...
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Sam Parr | take notes on this thesis just for yourself | |
Shaan Puri | Yeah, so I was like, you know, he's like, "$1 or whatever, you know, 1 ounce of gold was worth this many dollars before, and now that same ounce of gold requires whatever, like, you know, 100 times more dollars."
Basically, we used to be pegged to gold. We got off the gold standard, and look at how much the dollar has devalued relative to gold in that time. He's basically saying there's a trend towards the debasement of currency.
He talks about how people think this is like a slow thing over time, but actually, like, 95% of the debasement has just happened in the last 40 to 50 years or something like that. It has accelerated quickly.
This is not just a slow thing. Alright, here we go. So, 98.3% has occurred from 1792 to the present time. But even if you shorten that, still 90% of it happened in a very short window of time.
He talks about why this is such a big problem. This is basically like a cryptocurrency precursor about Bitcoin in it, but this is like, this is crypto as a solution to this problem, right?
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Sam Parr | bitcoin's a false choice that | |
Shaan Puri | Could not be debased, exactly, which is like the meme, but it's also like the truth. You know, it's like these things are cliché because there's an element of truth in them. That's why they stick around.
In his acknowledgements in this paper, he says, "Oh, I want to thank this professor, this professor, I want to thank this person." And at the end, he's like, "I want to thank my mom and dad." He's like, "Finally, thanks to the unknown chef that makes great brownies at the Small Enterprise Hall cafeteria. Hopefully, they will one day become a topping at Mister Yogato or its successor, Little Yohai." Dude, this guy's...
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Sam Parr | been plotting | |
Shaan Puri | This guy is just hilarious, man. He is just so funny to me. And yeah, there's like a 100-page paper if you want to go read it.
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Sam Parr | The most impressive part is that you read this guy's thesis paper and you got as far as to the acknowledgments at the end.
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Shaan Puri |
No, no. The acknowledgments at the beginning were for my friend. That's like the "thank you" at the beginning of a book. So I didn't read the whole thing; it's a 162-page thesis. I read like 40 pages maybe.
That's so awesome... step by step, step by step, where the debasement started and how it happened. And I'm like, "Oh wow, this is fascinating!" I never knew any of this.
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Sam Parr | Is that what you have to do to get your PhD? Is it to write a 140-page original work on something? That's amazing! I didn't know that theses were that long.
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Shaan Puri | Not only do we not have a PhD, we honestly don't even know what the hell a PhD is or what it takes to get one.
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Sam Parr | I used to tell people I had my PhD. I thought it meant "Poor, Hardworking, and Driven." That was my joke. I...
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Shaan Puri | a player hating degree yeah | |
Sam Parr | I didn't realize that you have to write a 100+ page report on this. That's amazing!
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Shaan Puri | I'm not that hungry and driven | |
Sam Parr | yeah yeah definitely not that sounds really challenging | |
Shaan Puri |
By the way, one of the great "get to know you" questions in the business world that's sort of dorky but actually is a good one is:
**"If you had to give an impromptu 45-minute talk on a subject, what would you give it on?"**
Like for you, it might be copywriting or newsletters, right? Something like that.
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Sam Parr |
"The history of denim?" What? I'm not joking, I could do it. You wanna talk about denim? I got you.
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Shaan Puri | no no | |
Sam Parr | what would yours be | |
Shaan Puri | there is no answer that is better than that answer I I don't wanna continue the podcast it was so good | |
Sam Parr | You see, the thing about looms is... in the pre-version of...
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Shaan Puri | the jordan | |
Sam Parr |
The Shutter looms pre-1944 were particularly special. But no, I could talk all about it. And then post-war, when Japan was rebuilding Hiroshima, they needed just a ton of machinery. That's when the Shutter looms of America went to Japan. I mean, I could do it, let's...
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Shaan Puri | that's insane alright your your turn what's your topic | |
Sam Parr | where do we go from here | |
Shaan Puri | you wanna do post pilot I like post pilot alright let's talk about I invested in post pilot did you | |
Sam Parr |
Yeah, me too. I didn't... you know, I don't like, as you call it, "talking your own book" too much. I don't like talking about stuff that I'm involved in. But since we're both involved in it and we're upfront, we could talk about it.
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Shaan Puri | well explain what it is first yeah | |
Sam Parr | So, let's talk about it. Our connection to Post Pilot is with the owner; his name is Drew. He actually bought the company, and the reason he bought it was that he used to buy software companies.
He bought DesignInPublic.com, KarmaLoop.com, and he also owned something called AutoAnything, which was an auto parts store. The thing about his whole playbook is that he would buy these e-commerce companies and say, "Well, your email list stinks, so we can improve that. We could do this, we could do that."
One of the things that he used to do with these companies that worked really well was to email or mail them—like, snail mail them—flyers.
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Shaan Puri | direct mail | |
Sam Parr | And direct mail pamphlets on the company. However, it was really hard to do; it was like a painstaking process.
So, he bought this company called PostPilot. I think he bought it for $60,000. What it does is, if you're an e-commerce brand, you just sign up to PostPilot, and they plug into Shopify, WooCommerce, and a lot of the popular platforms. They have a "done for you" service, meaning they'll help you design a pamphlet that you can send to not only your customers but also to some of your email subscribers and people who haven't already bought from you. They can send direct mail with the click of a button.
What he has found, like his whole thesis, is: "Look, if I have an email list, and some of these companies that I bought had an email list of 100,000 people, but 90,000 people wouldn't even open the email, and 10,000 would, how do I get the other 90,000 people to interact with me?" Well, let's just send them mail.
So, they created a process where you can use someone's address that they've already supplied to you. Or, I believe what they do is you can use someone's email and phone number and help use other data sources to find out roughly where they live. Then, they'll send mail to you or that area, or to people who match your lookalike audience. They send you mail, and they can track if you eventually bought something through their mail.
It's a very ROI-positive business, an ROI-positive marketing channel. I think he bought this company in 2018 for $60,000, and it's making well over $60 a day now. I think the last public information they shared was that they crossed $10,000,000 a year in revenue about 18 months ago, and it's growing like a weed.
He sends amazing investor updates where there'll be a theme. For example, he and his partner sent an update where they were dressed like stepbrothers. He does these really funny updates, but the business is growing like crazy.
It's really fascinating. I'm not an e-commerce guy; is that how you use it?
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Shaan Puri | So, we use it... If you advertise on Facebook or Google, the key metric for any eCommerce brand is your return on ad spend when it comes to marketing.
So, you spend $100 on ads. What's your return? Are you going to get $100 back? Are you going to get $200 back? Are you going to get $50 back?
$50 would be a 0.5% return on ad spend. $200 would be a 2.0% return on ad spend. If you can achieve a 2.0 return on ad spend at scale, you're printing money. You're putting in $100 and getting $200 out every single day.
And that's, you know, obviously, if you could scale that up, that's extremely lucrative. If you use PostPilot, you can get like a 10x return on ad spend. It's not the most scalable, but it is pretty ridiculous the type of return you get.
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Sam Parr |
He said a lot of people are getting 5 to 10x. He said most retention campaigns come in between 5 and 10... 5 and 10. So like, he kills it. I... I don't use it because...
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Shaan Puri | I don't know. These are like retention strategies, right? So you're trying to get people to come back, or you're trying to get a warm lead who hasn't bought from you but has given you their information to try to convert.
It's obviously different for a completely new customer versus a returning customer, but the blended ROAS (Return on Ad Spend) for these is really, really good. So it's very effective.
You send a postcard; it's got a bunch of photos on it and an offer. The cool thing is that they basically took this concept. They weren't the first to do mail campaigns, saying, "We'll send it for you." What they did was treat it like it's Klaviyo.
Those people outside of eCommerce don't even know about Klaviyo, except for the fact that it just filed to go public. Now, a bunch of people are paying attention to this $10 billion company that...
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Sam Parr | raised very little money | |
Shaan Puri | Email marketing for eCommerce actually didn't raise very much money. It raised $400,000,000 but only netted $15,000,000, which shows how capital efficient it is. | |
Sam Parr | what I mean yeah sorry | |
Shaan Puri |
So, every e-commerce brand basically uses Klaviyo at this point. It is the dominant player in the space. There are some others like Sendlane or whatever, but Klaviyo basically said, "We're going to automate this."
They take all your customer data from Shopify and they'll be like, "Cool, when somebody first joins, we'll create a welcome flow." So automatically it'll drip out like:
- 1 hour after they sign up for emails, they'll get this
- 3 days later, they'll get this
- And 3 days later, they'll get this
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Sam Parr | klaviyo | |
Shaan Puri | Klaviyo, yeah, yeah. And now what PostPilot did was they took the same concept. They were like, "Cool, you want to send a one-off blast? You can just go in our editor and do that."
You want to create automated flows that are just going to be triggered based on customer behavior? You can do that too. So they basically did for physical mail the same thing that Klaviyo did for digital mail, which is very, very smart.
So, yeah, anyways, I think they're doing really well. We'll see kind of how big it gets. I think the only question with this one is just how big does it get? It's a high floor, unknown ceiling. So it's like this business is definitely going to work. Now the question is, is it... yeah, even when we first invested, it was clear this was going to work.
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Sam Parr | And it was a low valuation compared to everything. It was not low; it was a reasonable valuation compared to everything else. I think I have about $25 in the company. | |
Shaan Puri |
Yeah, I did something similar. It wasn't... it wasn't like, you know, a massive, massive bet, but you know, the question is:
Is this going to be a $50 million business, a $100 million business, a $500 million business, or a $1 billion business?
I have no idea on that one. Like, we'll see, but it's definitely... it was like a clear "this isn't going to be a zero" type of investment. So I did this one personally, not out of the fund, because I was like, you know, you don't know the profile.
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Sam Parr | I thought about this one. I have $25,000 of my own money invested in the company. In my head, when I was looking at it, I thought the likely worst-case scenario is that this will sell for $70 or $80 million. I believe I could 4x or 5x my money.
In an unlikely but high outcome scenario, I thought it could sell for many, many hundreds of millions of dollars. I could definitely 10x this, maybe even more. That was kind of my thinking with that investment.
$25,000 of my own money is a smaller check for me, but it's a good one. | |
Shaan Puri | Right on! I have some other topics, so I think we should save them.
One thing I want to do is start doing episodes that are **business ideas only**. Sometimes, if you take an episode of *My First Million*, you kind of don't know what you're going to get. There's a box—you might get a "Billy of the Week" story about crazy people who have done crazy things. You might get a business breakdown, like we did with OnlyFans, just like, "Here's a business, here's the numbers, here's how it's doing."
Maybe it's a business like PostPilot, a business you've never heard of that's doing really well. We kind of expose you to the sort of things that are under the radar or not on your radar.
Then sometimes we do ideas and opportunities—things that we think people could do that could work.
On Monday, I say I'm proposing this to you: when we record on Monday, we should do **business ideas only**.
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Sam Parr | I think I think we're good monday and I have a good one | |
Shaan Puri |
Which are people's favorites? The business ideas and opportunities is definitely people's favorites, so we'll do that. But you know, if we're gonna do that, people gotta do something for us, right? Like, I don't know about you, but if I kiss, I like to get kissed back. If I hug, I like to get hugged back. And if I provide value, I like to get value back.
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Sam Parr | yes means yes yeah | |
Shaan Puri | And all we need from you to give value back is to put your wallet away. You know, it doesn't take money.
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Sam Parr | it's not free though it ain't free | |
Shaan Puri |
It ain't free, it sure as hell ain't free, but your money's no good here. Well, what we do need is for you to take that little finger of yours, open up the podcast app, click subscribe, go to [inaudible], and click subscribe. The next thing you're gonna...
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Sam Parr | do is go to youtube where do they do that they do it on spotify | |
Shaan Puri | Any platform—Spotify, Apple Podcasts, whatever is your comfortable place. I'm not trying to get you to go somewhere you're not comfortable, right? Go where you're comfortable, but just make sure you click and subscribe.
Now, go to YouTube. Open YouTube, type in "My First Million," click subscribe, and hit the little bell so you get alerts. We need both of those things from you. We just need it. I don't ask for much, but I ask for this. Don't let me down.
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Sam Parr | And if you want, leave a comment. You could leave a comment; we read all of them. Even the funniest ones, we send to each other, particularly if they make fun of us.
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Shaan Puri | Yeah, the most insulting ones definitely get the most attention. We can't resist. We're not one of those people who are like, "Nah, I don't read the comments. I don't read the haters."
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Sam Parr | read all of them | |
Shaan Puri | oh we read you yeah we think about you | |
Sam Parr | and I recognize usernames | |
Shaan Puri | you're living in our head | |
Sam Parr |
Yes, I've googled some of these people. I do a reverse Google image search and find out their LinkedIn. Here, I'll actually leave a hint so for next Monday you can see on here which company I'm talking about if you scroll down.
I was going to start this with a business that used to exist that was way ahead of its time that I think should exist today.
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Shaan Puri | now is the time | |
Sam Parr | now is the time if you could possibly pull this off do you agree with me do you see what company I'm talking about | |
Shaan Puri |
I know what you're talking about. I agree with you. I can't wait to talk to you about that one, and I have one that is similar to one of the best businesses in Andrew Wilkinson's portfolio. I think you could create a new version of that that would work really well. That's the teaser.
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Sam Parr |
Alright, **Manic Monday** we'll call it. I don't know, do we just go from ideas to ideas? Or do we just look at the comments and stress out over like blemishes we have on our face?
But it's Manic Monday, so... you don't have to pay money for this show, but it ain't for free. And you know how to pay for it.
So alright, that's the pot.
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