I feel like I can rule the world. I know I could be what I want to put My All In.
All right so what we're going to do is we're going to do a little Q&A and we'll Riff on some of that stuff. Fantastic. Let's see. Please can I have house lights and I would like to see Hands Up For questions for the panelists. I see.
One here in the center. I see one over here. Thank you guys. I'm going to ask you to raise your hands again and we're gonna try to go through these fast. Please say, who your questions for my questions for Sam? Where do you think podcasting will be in ten years positive or negative
question? Stress, you out what
man's role in the universe? I don't know. Like, when I was, I'm light discussion where will podcasting be. So when she was Shawn's idea to start our podcast, he came to me and he's like,
I've got this finished episode will the hustle publish? It be our publisher and the original version of MFM was not what it is. Now it was him interviewing people and it was still good. And then one day someone didn't show up to the studio time that we had already paid for it. He's like, I just come in and do the thing that we do and that's kind of how it came to be. And by the way, you know, the stories are true,
right? No, that's not actually how it came about. I did not know that it's hard to tell this I'm like, is he telling us because fix you
I'm gonna guess Bail.
No, I told you that what happened was, is a good time to come clean right in front of us and our 500 closest friends. What happened was the hustle wasn't promoting the podcast enough and I was like, how do I get them to promote it? Maybe I could tell him what's in it for them. Maybe I could make better content or maybe I could just invite Sam on the podcast and he will for sure, make them promote it. And so you guys are launching Trends and I was like, hey, come on and let's just bullshit about upcoming Trends and startups. I was like they,
After promote that episode because it's like, that's their thing. Nice is like, let me do that every Friday and that became the pot, they call this The Prestige. Yeah, you honeypotted me at
work my point being when we got into this I've thought it was a high thought podcast for stupid. I was like that's played out. There's too much and what I've learned I'm not going to entirely answer your question because the answer is, I don't know. But I'm going to try and get around to it. What I've learned.
As I think it's the most powerful medium that we've ever come across. So like, because when you're in this is it sounds weird. But when you're in someone's ear is like, literally the headphones matter, when you're in someone's ear for like 40 or 50 minutes per session, like three times a week. It's insane. How, what people learn about you? It's way better than like an 8 minute YouTube video. So, where do I think? I don't know. Andrew. What do you think is gonna go quite? So you do owns a podcasting top?
Yeah, I own a company called super cast and we helped like huberman and other people monetize their
I was talking to the guy who runs it actually yesterday, weirdly and he said that podcasting. There's 62 percent penetration, the United States like 62% of people are aware but there's only two billion dollars in the market. So I'll never tell casting advertising dollars and stuff and you think about like FM radio and how big that market is. I would just look at FM radio and be like, okay, how big is that? And if every podcast was monetized like FM radio, it's probably that big so it can probably like 20
X, 50 x, 100 x. I don't
know. Would you agree that podcasting is the hardest medium to grow?
Yeah, for sure. I think that it has the benefit of what you said, that people become really loyal very quickly, but it's the hardest to grow. So you can go on Tick, Tock, and you'll get a bunch of followers. But if you said, hey, we're doing a live show in Austin, you're not going to get anybody to show up. In fact, there's funny tick-tocks of these Tick Tock is doing meet-and-greets that no one shows up to, because they thought, if I have 100,000 followers, for sure, people are going to show up. And so,
You know, the the trust is what matters, not how many fans. And also I'd say it side. Argues the best medium to have subscribers on because someone will see it in their app. And there's no algorithm that's going to get in your way, whereas, on YouTube or something. Yeah, you've got the same monetization opportunities of doing events and, you know, promotions and ads and all the other stuff. But it's so easy for the algo just to go away from you. And you forget about the person, the problem with it is unlike blog articles and things like that. You can't fake it. I can fake a Blog article and get you to click on it.
It's podcasting is very hard for that reason and I always like joke, but I'm like the best way to circumvent someone's bullshit. Detector is to not bullshit and it's like the best way to like get successful and podcasting, is to be talented or like, be really good. And that's super hard because you don't actually have to be good at a bunch of like blogging and even newsletter writing, you should have to be pretty good, but you can kind of be pretty bad and still succeed podcasting. It's a lot more challenging who else? Hey, this question is first, Sean and Sam. I'm building a website called
I'll ask the Pod.com. It's meant to be AI companion for podcast so you can listen to the episode and go back ask questions what are the books mentioned? What are the links mentioned? So is it okay to add my first million?
Yes, next question. Question, I
want to see one from over here and they'll pass the mic down, please. Hey guys, thanks so much. Love the podcast, my questions for Sam. I'm a copywriter and I'm just wondering what your number one tip is for getting better.
Writing persuasively and specifically copy. These are some boring questions, guys. So copying word for word other people's work. So what I like to do is I print out like whether it's a movie script or a great, like blog article or a really good piece of copy that I like and I copy it word for word and it's almost like learning music. You like play other people's music and you like see the texture of what makes greatness and then you like steal from
A bunch different places and make your own and that's what I like to do. Spend six months doing that one hour every day, you'll get pretty good. Awesome, thanks.
Should we get people aligned up baby? Just so that there's no delay? Sure. Yep, I'm open to that. If you have a question which
we would love to hear questions, come and meet me on this side of the stage, I
hear you're one joke away from getting this next seat on the stage here. So, I mean, I he said, I love the podcast, I hate the
podcast my fault, but, um,
you hate podcasts,
You hate the podcast? No sarcasm. Oh, can we follow? Hey, excellent question. Come on up. Next one is Austin. All right, this question is for Andrew, what have you learned the commonalities of the bottom 20% of Investments that you've had it versus the top 20%? What differentiates the bottom? 20% top 20%, the things that I do the big, the biggest mistake I would say over and over and over again, is
Is when I bet on the business, not the jockey, right? So I get really excited about the business and the business model and I go, oh my God, this is a great idea. If I ran this or someone like me ran this, this would be amazing. Even if I don't believe in the entrepreneur, and I've realized that betting on the entrepreneur is 100% of the game, right? Because they'll figure it out.
But don't you want to have a business that any idiot can run.
Oh yeah, for sure. But I'm saying, like the ones where I've lost, I actually haven't lost that much money in businesses, where I'm buying the whole thing almost.
All of those work. It's the ones where I'm doing venture or I'm betting on something. I'm trying to start a business. That's why I lose all my money.
Excellent next question. I'ma see. So I want to ask, how do you feel about Community Building obviously it's become really big for a creators. How do you see it in the podcast? Rhonda sort of that async communication with your fandom and building the superfans
Yeah, I think for podcast you don't really want to build a community as such. You want to build a cult. So you basically you're like what is it that we believe that not everybody believes and let's put that on blast and then a bunch of other people who believe that two are gonna be like, finally, someone said it or like finally, they do things. The way I do things like, for most of you here, I would bet like hands up. If you consider yourself, like, I'm a real fan, like, I truly love the pot. I feel like when you guys are doing
The Pod. I could be sitting there right with you guys kind of bullshitting. I bet like leaving hands on for a second. Put your leave your hand up. If the following statement is true,
It's not that you learn that much from us but it's kind of like you feel like you're hanging out with us that we are like you and that if we just happen to have met we would have been friends.
So like most people leave their hand up, right? I kind of confused them but it's that's kind of what you go for. I think most people when they do content they're trying to be in for heavily informational and they think they're talking down to people. They think they're educating them and whatnot but we do is we just talk about stuff. We're interested in that we think and then it just happens to attract a bunch of other people who think the way we do. And that's kind of like more like a cult than it is a community of people where we all gather round and serve each other.
Alright, everyone so really quick a
Weeks ago, the founder of HubSpot has his arm as she came out of the Pod, he's a fan. Favorite of the party comes on every couple months and we love them. You guys love them. And he told us about this new project that he had, it was called chat spot. It's pretty amazing. It's an AI powered tool within HubSpot. It does everything you could just use your words and talk to it and we'll pull all these amazing reports. They'll tell you about your leads, it can forecast Revenue all in seconds, it's amazing. So if you're running a business that requires more leads that requires creating new landing pages.
We have to make tons of blog posts. We have to pull different reports. We have a CRM, you have to check out HubSpot there, the sponsor of the Pod and you can check it out and used our meshes new tool called chat spot. It's amazing. I've been using it for my own business at Hampton and we love it, so check it out. HubSpot.com
human is a great example of that where like we were just talking about this backstage. Actually, he does these to our crazy podcasts on like, weird, nerdy science stuff. But he makes these subtle little comments about his dog and he
Like a real sweetie and all these things. And people connect with them and he's handsome. What does he look like? Shirtless ridiculous. We're okay. So my huberman invited me over to his house and he goes, let's do a sauna and a cold plunge. I've never met him before, and I was traveling with my girlfriend, and I was like, oh, like Zoe, do want to come with me and we'll go to humans. She didn't know who he is. And she's like, no, I'm good. And we get there. He takes his shirt off and he's just shredded. Like you could like shredded cheese on his chest 8-pack, bulging on.
Arms, tattoos, and I'm there. And I'm just like the folding myself into a little ball. And I was like, thank God, I didn't bring
her. Well, do two or three more. Yeah, all right. Next question.
Hey guys, my question is, what can partners of Founders do to support them on their journey? I see that some of your wives are here just wondering. Yeah, let's hand the mic to them. Let's see what they have to say. We don't do it.
Everyone is we've gotten the request to wear.
Like bring your wives on and we're like, no, we're not
doing that. This is the one thing I have, don't give it to her.
My I've done a good job of partnering in business and in relationships with people who are very emotionally stable. Because I am not and that and that has been awesome. And so basically, like there's been many, many, many times where I'm laying on the floor.
And I say, Fuck this, I'm out, this sucks, I'm bailing. I'm going to quit. And she'll just like sit there and be like, okay, okay. And then just like, not really reply other than like, all right, you done now and the and and that has been like pretty wonderful to have someone who's like emotionally stable to balance out someone who's pretty neurotic
for me. I remember when we were going to like I always say oh we sold Bebo as if it was like this easy thing. That was for sure going to happen, what actually happened.
As the business wasn't really going the way I wanted and I was like, I got to just do something else. So I said, I'm gonna try my best to sell this business but if it doesn't sell, she going to shut it down. I don't know what I'm gonna do next. We're going to just I'll figure something else and I just got to change it up and I went to my wife, somebody who's right here and I said hey I'm thinking my doing this, we were pregnant pregnant with our first and is like Hey how do you feel about me either selling this or more likely? It's just not going to work out and we get 0, we have no job, no health insurance.
And like I don't know what I'm going to do next but I just kind of failed for five years straight so that's the track record. I got going here and she was like let's go for it like no hesitation was just like, I believe in you. Let's do this like know kind of like don't the Go For It. Go for the upside and not worrying. About what happens if things go wrong that really helped me because I was like, oh cool, like even if we strike out, I don't have to. I already beat myself up. I'm not going to get beat up more, if things don't go well and I don't have to keep hedging and sexy.
Like, we're now muttering like, broke-ass
motherfucker. See, I would say, I would say there's three things. So number one, empathy, but empathy without understanding is useless. So, like, in previous relationships, it would be like, oh, my God, you know, this person at work has given me so much trouble. And the reason is that they want stock options, and that means this or whatever, and previous Partners would glaze over and they go, oh my babe, that's so hard. But
It was like Halo right? There's no understanding and so what I found really works is actually not like going into business and like obsessing over it but just making a bit of an effort to understand the actual problem and like you know for example like my girlfriend will listen to my first million or my girlfriend will read. You mean our girlfriend girlfriend exactly or social make a bit of effort. And then what was my third thing? Shit brain for it.
I'll remember it later. I'll take
great. So, for those that are in the line, I'm going to walk down your very quickly. Going to say your question, I'll try to do five or ten real quick. They will not be answering them, but they may give an answer later first up. What was the reasoning behind going? Public taking tiny public and what was the biggest lesson learned? Excellent. Next question, question for Andrew. I was curious about your follow-up to your kind of personal episodes, about your dip emotionally, and what that's but in the last, like, 12 months, for instance. Awesome. Few more Andrew, how do you start and grow your agency business?
Next for the panel, build a few businesses that did Millions. Now if I myself complacent lacking purpose? Yeah just like to know your answer to that, okay. Alright next one
without turning it into Billy of the week Andrews Impressions. I'm meeting my boss's, boss's boss's boss, Michael Dell this week. The stuff that you didn't put on Twitter already. Let's go.
We're going to pause for those you that are standing waiting for questions. Take a seat and we'll do another round of Q&A. Same thing.
The
first one was going public and why? And I would say that going public is if you're an investor, it represents the greatest opportunity, right? You can raise Capital at a great valuation, you can buy it back when it's cheap. You can use your Equity to buy businesses, those are just kind of boring business reasons to be honest. The reason kind of relates to my dip so over the last like two or three years. I went through a bit of a funk and it came from this feeling of like I
Don't know why I'm making more money, I don't have a thing, right? So when I started it was because I was like, okay I want to wake up whenever I want and I don't want to have a job and then it was like okay I want to have a sweet house and a car. And then I was like, okay I got a sweet house in a car. Now I want to pay off my parents mortgage and then after that and then it was like okay I want enough money that I can be fine and stop working but after that point which I reached seven or eight years ago, I just didn't know what to do with it and I tried all these different
Different things, you know, I would go in like you know by wine and fancy cars and go on fancy vacations and all these things and nothing really made me happy and so over the last couple years I've been trying to figure that out and I tweeted about this earlier and I mentioned this but I've been really admiring people that do two things. One is they use money to live life in a very interesting and creative way. So Nick is a great example of that. Nick's a multi-millionaire, he exited his business. He's done very, very well. And he just
Has Investment Portfolio on autopilot invested in Tesla really early on and now he just focuses on meeting interesting people. So that's one piece, and I've done a lot of that. Just meeting. Interesting people. And then two is figuring out how to give it away and actually impact my community. So like I did that local journalism thing. I think you guys know about and going public in Canada. It allows me to actually give my shares to my foundation so I can actually do that. So it enables that Andrew did the
biggest Flex on us when we saw some for dinner the other night, we're like, oh, what do you been
Doing and he goes philanthropy ever like oh okay, okay, big
guy and then he didn't pay for dinner.
Dedicate to donate to the salmon shark Foundation. Yeah the 500 dollar dinner and the other question was about Michael Dell you met. Michael Dell this
weekend? Yeah Michael Dell. He was so okay. So like Michael Dell is like what you hope capitalism is
Like I met him and he was the nicest most down-to-earth engaged Pleasant guy, and I've met a lot of rich people. I've met billionaires. Multi-billionaires, he's worth 50. So he's worth like 10 x. Any of the other people and he was just really genuine and nice. And I asked him, like, okay, what are your vices like, how are you? Not like you, you have like a Super PAC, like some weird libertarian Island, where you like hunt and kill. People are you building like penis Rockets to Mars? Like what are you doing?
He just goes, no, I got a couple nice houses. I've got a jet, I just like to work and build my business and I give it all the way to my foundation and I was like, okay, that's pretty cool. It's like the human version of a Dell computer. Yeah, totally. But it like a nice, a nice computer that works well for you.
I feel like I can rule the world. I know I could be what I want to put my all in it. Like a Days on the Road Less Traveled never looking back.
All right, everyone, that's the end of my first million. However, I've got good news. You see, if you liked this episode, we actually have another podcast. The hustle has another podcast, it's called The Hustle Daily Show to daily podcast. That has everything you need to know about business and Tech and only a few minutes. It's awesome. Our best writers, like Zack Crockett are behind it. It's incredibly fascinating. I listen to it daily so check it out. The hustle Daily Show.
