The 2023 Milly Awards: Part 1

Episode 531: Shaan Puri (https://twitter.com/ShaanVP) and Sam Parr (https://twitter.com/theSamParr) bring you….. The 2023 Milly Awards. Actors have the Oscars, musicians have the Grammy’s and what do business people have? They have The Milly Awards. No more small boy spreadsheets, build your business on the free HubSpot CRM: https://mfmpod.link/hrd — Show Notes: (0:00) Intro (2:30) Favorite MFM Guests of the Year (10:30) Billies of the Year (18:00) Biggest Change for 2024 (34:00) Person You'd Bet It All On (40:30) Best Business for Someone Else to Do — Links: • Kevin Ryan’s episode - https://www.youtube.com/watch?v=0cLWUCE02KE • Sarah Moore’s episode - https://www.youtube.com/watch?v=dF6zvTXimxY • Connor Price’s episode - https://www.youtube.com/watch?v=h4KFqL3z2fg • Palmer Luckey’s episode - https://www.youtube.com/watch?v=dBeosjr7PyY • Jesse Itzler episode - https://www.youtube.com/watch?v=ff1z3GUcfO8 — Check Out Shaan's Stuff: • Try Shepherd Out - https://www.supportshepherd.com/ • Shaan's Personal Assistant System - http://shaanpuri.com/remoteassistant • Power Writing Course - https://maven.com/generalist/writing • Small Boy Newsletter - https://smallboy.co/ • Daily Newsletter - https://www.shaanpuri.com/ Check Out Sam's Stuff: • Hampton - https://www.joinhampton.com/ • Ideation Bootcamp - https://www.ideationbootcamp.co/ • Copy That - https://copythat.com Past guests on My First Million include Rob Dyrdek, Hasan Minhaj, Balaji Srinivasan, Jake Paul, Dr. Andrew Huberman, Gary Vee, Lance Armstrong, Sophia Amoruso, Ariel Helwani, Ramit Sethi, Stanley Druckenmiller, Peter Diamandis, Dharmesh Shah, Brian Halligan, Marc Lore, Jason Calacanis, Andrew Wilkinson, Julian Shapiro, Kat Cole, Codie Sanchez, Nader Al-Naji, Steph Smith, Trung Phan, Nick Huber, Anthony Pompliano, Ben Askren, Ramon Van Meer, Brianne Kimmel, Andrew Gazdecki, Scott Belsky, Moiz Ali, Dan Held, Elaine Zelby, Michael Saylor, Ryan Begelman, Jack Butcher, Reed Duchscher, Tai Lopez, Harley Finkelstein, Alexa von Tobel, Noah Kagan, Nick Bare, Greg Isenberg, James Altucher, Randy Hetrick and more. — Other episodes you might enjoy: • #224 Rob Dyrdek - How Tracking Every Second of His Life Took Rob Drydek from 0 to $405M in Exits • #209 Gary Vaynerchuk - Why NFTS Are the Future • #178 Balaji Srinivasan - Balaji on How to Fix the Media, Cloud Cities & Crypto • #169 - How One Man Started 5, Billion Dollar Companies, Dan Gilbert's Empire, & Talking With Warren Buffett • ​​​​#218 - Why You Should Take a Think Week Like Bill Gates • Dave Portnoy vs The World, Extreme Body Monitoring, The Future of Apparel Retail, "How Much is Anthony Pompliano Worth?", and More • How Mr Beast Got 100M Views in Less Than 4 Days, The $25M Chrome Extension, and More

Speaker names marked ? are inferred from speaking time and the show’s known hosts — they are not voice-verified.

• 0:00Shaan Puri?

  This is the most popular episode we do every year. It takes weeks of planning. I'm out 50 bucks because I got this new jacket on. We're all dressed up and why? Because it is the Millie Awards. It is our end of year episode where we go through about 15 categories, right? Actors, they got the Oscars and musicians, they have the Grammys. Well, what do business people have? They got the Millie Awards. And this is where we share a bunch of different categories like our best and worst investments of the year. You know, where do we take a big L on an investment? What did we win on? Or we'll do a category like person we would most bet it all on. Who would we, if we have to invest our whole net worth on somebody? Who would we bet it on? We got me, Sam and Andrew Wilkinson. We're all here. We've been doing this for three years now. These episodes are always the favorites. This one went long.

• 0:44Shaan Puri?

  We're going to do it as a two parter. So in part one, we have categories like Billy of the year. Best business that we think somebody else should go do. Our favorite moment from, uh, from the podcast this year. And the biggest change that we are making personally in our game in 2024. And in part two, we have a whole bunch of categories like our favorite unsexy business and, uh, wild predictions for next year. So enjoy the Millie Awards 2023.

• 1:19Shaan Puri?

  Okay. What's up, guys? It's my favorite episode of the year. Andrew Wilkinson is here. Sam is here. Sam, you're looking dapper. Andrew, you're looking dapper. Sam, I gotta say the whole dressing well thing. I'm bought in now. I see it. You don't look like a science teacher. You don't look like you're from a different era. You just look sharp, my friend.

• 1:40Sam Parr?

  Yeah, I couldn't find my cuff links. I thought I was going to look like a farmer on this thing. Thank God I found them right before we started. Do you guys remember how, uh, Trump had like the Clemson football team into the White House? And they use like the Lincoln gravy bowls for like barbecue sauce? That's how I feel right now with this person who bought me Tiffany crystal for my wedding. This is the first time they're being used and they're being used for Whole Foods brand La Croix. So shout out to that person. Andrew, you feeling good? You ready to do this thing?

• 2:09Andrew Wilkinson?

  Feeling great. Yeah, I'm, uh, this is the best I've dressed in years.

• 2:13Sam Parr?

  We're happy that you did it here. All right. So this is the Millie Awards. We've done this. This is now, Sean, four years running. We've done this, or is it three? I think four.

• 2:20Shaan Puri?

  Maybe three. I think it's three.

• 2:22Sam Parr?

  And we've got, we've got 11 or 12 or 13 categories. We're gonna do favorite MFM guest. We're gonna do Billy of the Year, biggest change we're making for 24, uh, the person we bet it all on. We're gonna do a bunch of different stuff. And we're gonna try and go somewhat fast for each category, but I'm sure we're gonna have interesting stories for each one. Sean, you wanna kick it off? Where do you wanna go?

• 2:40Shaan Puri?

  Yeah. Category one. This is the Millie Award for our favorite MFM episode or guest of the year. Sam, start us off. Who you got?

• 2:50Sam Parr?

  All right. This was a tie. No, it's not a tie. We're not gonna have ties, but I'm gonna say the top two that I had was Scott Galloway. So by the way, we have a clip that's gone viral on, on YouTube where it's a clip from the Scott Galloway pod, where he's talking about how much he made. I'm talking about how much I made. And people are just ragging on us both so hard because they say that we sound so depressed. But I'm gonna give it number one to Kevin Ryan. Kevin Ryan's the founder of Gilt, Business Insider, MongoDB. I think Kevin Ryan was the best episode. I think he was the most wise person and well-balanced person we've had who's had crazy success.

• 3:21Shaan Puri?

  You know what else he did that I liked? At the end of the episode, he was like, here's how I set up my company to maximize, um, like, kind of the gain I get out of these companies and pay the least taxes. And I'll tell you what, no rich guy ever says that. No rich guy ever tells you, this is the structure I use. And he said it on, on air. He's like, here's what it does. It lets me live in a high-cost state and I'm effectively only paying 14%. And my kids are only paying 0% on what they're getting out of our, our capital gains due to QSBS. So he owns the share. He's like, I only work on projects that are QSBS eligible and long-term capital gains. I'm not looking for, uh, cash flow or income. Cause he's like, I got to a point where I, I have that, like, you know, day-to-day needs settled too. So you have to get to there. He's like, but once you're there, he's like, you, um,

• 4:06Shaan Puri?

  you take your QSBS, you live in a high-cost state, you then, uh, gift, uh, your stock to your kids' trusts. So you set up kids' trusts. Gift your stock to them before you raise a financing round. So you're taking only like, let's say a hundred K out of your lifetime gift tax. And your kids now own Q S B S eligible stock. When you sell, you're going to end up paying only the state tax. So you'll pay 14% California or New York. You'll pay no federal. And then your kids will pay 0% wherever, you know, likely whenever they they get it out of the trust at their at their given point in time. You're getting Q S B S, you know, the $10 million tax free for you times each of your kids. I can get to 50 million tax free if I got, you know, three or four kids or whatever. And I was like,

• 4:49Sam Parr?

  I don't think they've got, I don't think they have Q S B S in Canada land, do they?

• 4:53Andrew Wilkinson?

  No, we don't have, we have, there's all sorts of other stuff and benefits and stuff, but um, there's a great saying on this stuff. Whale is only harpooned, whale has only got harpooned when they surface, right? And he just surfaced in a really obvious way. And you know, there's just some anal retentive IRS guy listening to the stroking his beard right now.

• 5:10Shaan Puri?

  Strike that off on the record.

• 5:12Sam Parr?

  What uh, what's yours, Andrew?

• 5:17Andrew Wilkinson?

  My favorite was Sarah Moore. So Sarah Moore, she's a crazy story. She had a really troubled childhood, basically got adopted by this wealthy family. They ended up putting her through Harvard Business School and she went out and she bought this business called eggcartons.com. And this story was just incredible. I feel like so many people hear these wild stories about tech bro billionaires, you know, raising a bunch of money and hitting it big, making trillions of dollars. And I think her story is much more realistic for a normal person, you know, anyone. She really kind of is a testament to the fact that anybody can teach themselves business and can go buy a business that is really not rocket science.

• 5:58Andrew Wilkinson?

  And I loved how simple and tactical all of her stuff was. She's so honest. I love that story.

• 6:04Sam Parr?

  I'm trying to stay low key and under the radar. And I think it's been our, one of our most downloaded and viewed episodes with like 500,000.

• 6:11Shaan Puri?

  Listens to that episode.

• 6:15Andrew Wilkinson?

  Well, so the smartest thing she did is she like she did the um the Michael Jordan like I'm retiring. This is the last thing like, you know, I'm never going out again. And now she it immediately, as soon as you said that in the intro, I was like, I have to listen. Right? There's definitely episodes I kind of check out of or don't do.

• 6:32Sam Parr?

  Yeah, it was a great one. I I I think it's a great one.

• 6:35Shaan Puri?

  The uh by the way, there's a quick follow up to that because that story that uh that story, the Sarah Moore story was falls in the category of kind of like too good to be true. So, you know, look at all the elements. It's basically like, here's this super hot woman who grew up, you know, super poor, couldn't even get into college. Somehow ends up at Harvard Business School. There must have been something happening there. A family had adopted her along the way. That's like the plot of the movie Blind Side. Then it was buys a business but has no money, remember, because she grew up super poor. So bought the business with zero dollars cash down. How she found the business was she, you know, hired 50 interns off of Craigslist and like snuck them into the Harvard Business School like library to work with her on this.

• 7:20Shaan Puri?

  And and he applies this business eggcartons.com for millions, it's a million multimillion dollar business, super successful. There's no pictures of her on the internet. There's no interviews of her on the internet. All right, we're like the only guys who like done this. So there was a lot there that like I came out big thinking, did I just get Elizabeth Holmes? This I I might have, oh, God, this I might be part of the documentary here. All right, let me uh let me at least make sure I look good if this is going to end up on Netflix one day. And she flew out after the episode. She's like, I gotta meet you. So, okay, why? Uh and she's like, I just I need to know who I'm dealing with here. And so she flies out. We go get lunch here in the burbs uh in California. She flies all the way from Boston. And everything checked out.

• 8:04Shaan Puri?

  It was if she is Elizabeth Holmes, she's the greatest Elizabeth Holmes you've ever seen. You know, she looks like what she says shows like she told the story. She showed me the old photos, like, you know, she everything. And she's like, I'm so glad, you know, people have been pretty respectful because I said on the episode, please don't bother me. Um, and we we did a form instead of her like email address like here. Type your questions in this form and then we'll we'll answer the form.

• 8:28Sam Parr?

  How many how many messages did she get?

• 8:31Shaan Puri?

  A lot. She had said after the first appearance on it, she got like like the Netflix, Bravo, like other people had reached out to be like, can I do? Uh, we want to do a show on you or a movie on you.

• 8:41Sam Parr?

  Wow. All right. Well, kudos to Sarah Moore. What's your Sean?

• 8:45Shaan Puri?

  All right. My MFM guest here that's going to surprise you guys is Connor Price. And Connor Price is a was a guy who was working in a warehouse. He was stacking boxes in our friend's warehouse and Ramon's warehouse. And he was like a wannabe rapper, white guy. And you know, like, that's kind of cliche. But he actually made it and he made it in a very interesting way. He figured out how to go viral on TikTok and he was not a social media guy. He refused to even post on social media. He was too shy. His wife was like, you gotta do this. It's a great way to get the word out and let's just have some fun with it. And she kind of became his like his manager and they now have racked up, I don't know, like a billion views on TikTok going viral.

• 9:27Shaan Puri?

  And the reason I say Connor Price is not just because that's an inspiring story, but I took away one big lesson of like the it's like, I realized that the puck has moved. And I'll give you guys the short version of it. I think era one of marketing was sort of like,

• 9:44Shaan Puri?

  let me interrupt your programming in order to tell you about my product, right? That's commercials. That's like radio ads. That's how things used to work. Era two became, hey, let me send this to an influencer. They'll kind of hold up the product and make a post about the product. So now I'm not interrupting your programming. I'm kind of using this trusted influencer. But it's clearly, you know, still an ad. The content is buy this product. It's great. And what Connor Price is doing is a little bit different. He he creates a little skit and in the middle of the payoff of the skit, the hero of the skit, the one that saves the day is this dope song and the 15 seconds of the dope song. And that gets people to go and actually want to go find the product. And now I see this everywhere. This is how Mr. Beast sells chocolate too.

• 10:29Shaan Puri?

  He doesn't hold up his candy bar and say, this is a delicious candy bar. You should go buy it. He says, I recreated Willy Wonka's Chocolate Factory and inside this factory is he makes like the product is baked into the content. The content is entertainment around the product. And now that I see that, I can't unsee it. I see it everywhere and it's part of my kind of core business strategy now. Even our own ads, we changed like that. Instead of saying, we're going to stop. We're going to tell you about this thing. We created a segment called the thrill of the show. We teach a lesson or an entertaining story. And then we tell you about the product in that story. And that's how I think marketing goes down.

• 11:02Sam Parr?

  Gotta give a shout out to his wife too. Just a total shark in the best possible way. Yeah, she was hardcore. Um, all right. You want to move to the next one? Billy of the year? How do we describe this one? Just a billionaire who's fascinating?

• 11:17Shaan Puri?

  It's just someone who's balling out of control. You don't even have to be a billionaire. You just have to have that that billionaire strut, the ability to walk with some swagger and play the game a little differently. So it's somebody who is uber successful, but in a way that we really respect. Let's go with Andrew first. Who you got?

• 11:32Andrew Wilkinson?

  So mine is very obvious. It's um.

• 11:36Shaan Puri?

  You got a landline over there?

• 11:37Sam Parr?

  You still have a landline?

• 11:38Shaan Puri?

  Dude, you go public and you have to install a landline.

• 11:40Andrew Wilkinson?

  The gate, the gate, the gate of my house is like the super old school system. So I have a landline just for that.

• 11:47Shaan Puri?

  Dude, you better only be talking to presidents on that thing.

• 11:50Andrew Wilkinson?

  It's red. It's red, like the bat phone. Um, so mine is pretty obvious. It's Charlie Munger. I think we all know who he is. For those of you that don't, he's Warren Buffett's longtime business partner. He just died last week. I think he was 15 days or something short of his 100th birthday. He was 99. And the guy was completely sharp to the end. I think a week before he did an interview with Jesse, or um, what's her name? Becky Quick, um, from CNBC. And I just want to tell you a story about this guy. This is how sharp this guy was. So Chris and I were having dinner with him one night and all of a sudden this guy bursts into the room and he's like, Charlie, I gotta, I'm doing a deal right now. I need to know, uh, an answer to something. And this guy walks in.

• 12:35Andrew Wilkinson?

  He's like 30 years old and he just starts rattling off a bunch of questions. He's like, okay. We need to do it at 5.6% interest for this many doors. And Charlie just asked a couple of questions and he says, okay, good. Cool. And then the guy just like says bye to us and leaves. And Charlie explains that it's this neighborhood kid who he is a Hasidic Jew, tried to convert him to Judaism 20 years ago, going door to door with a Bible, uh, with, with uh, bibles. And they ended up becoming friends. He mentored him. They, he started buying apartments. Charlie backed him on this.

• 13:14Andrew Wilkinson?

  And now they own a billion dollar real estate portfolio of Los Angeles apartments. And he's just this neighborhood kid. His name is Avi and, uh, and they built this huge business together and Charlie started doing this and he was like 90 years old.

• 13:28Shaan Puri?

  His 90 year old side hustle is a billion dollar real estate portfolio? God damn it.

• 13:33Sam Parr?

  Andrew, is this gonna be like a couple that's been married for 80 years and they both die at the same time? Is Warren gonna, like, is he distraught, you think, in the same way a marriage would be?

• 13:45Andrew Wilkinson?

  I don't know. I mean, yeah, Buffett's really old, too. And I think if you think about the actuarial tables, they really don't have much, or Buffett wouldn't have much time left, but hopefully he keeps going for a couple more years.

• 13:56Sam Parr?

  Yeah, he named, or he said he has a successor and everything lined up. But I wasn't sure if it's gonna be like a marriage where like, he's gonna go like next week, but I guess we'll see.

• 14:04Andrew Wilkinson?

  Funny is, they've had successors since they were like 60. Everyone's been saying they'll die at any time. So they've gone, they've gone a lot longer than everyone had thought.

• 14:13Sam Parr?

  All right, mine's Palmer Lucky, the CEO of Androl. So we had Palmer Lucky on, I think, two years ago now. It was an amazing episode. But here's why I like Palmer Lucky. He says what you want to say if you were a billionaire, but you'd be too afraid to say it. And so he has got a lot of really good quotes of him. He's kind of a loose cannon in a few ways, like him and Jason Calacanis have gotten into it. But frankly, I love it. So he's got this great thing that he did. He spoke at a conference recently and he goes, do you guys know what the number one profession that children want to be? It's social media influencer. The next is professional gamer. The next is a YouTuber. And the problem is, is that you can't tell kids to follow their dreams when their dreams suck. Which is like a great line. And he goes, do you

• 14:54Sam Parr?

  know what the number one dream for kids in 1971, in 1971 was? It was an astronaut. We had just gone to the moon. These guys were fighter pilots, PhD mathematicians, supermen, who all were also really good, good looking and well spoken. It was the ultimate American hero ideal. For a kid to see that and say, that's what I want to be. Okay, then I say, yes, we should tell kids to follow their dream. But when it's social media influencers, I should tell, we should tell them their, their dreams suck and don't follow their dreams. So he's got these really like articulated, wonderful points that I appreciate. He dresses silly. He's got a mullet. I'm a big Palmer Lucky fan.

• 15:26Shaan Puri?

  Yeah, I like that one. And that's now two years in a row. Andrew gave him the nod last year for Billy of the Year. And now Sam comes in again with Palmer. I love it. He's, we gotta get him back on, man. He was, he was really good on the pod. He had super interesting ideas and also, like you said, speaks his mind.

• 15:43Sam Parr?

  He says that he flies commercial and that he prefers to see, to sit by the bathroom. He goes, because that, because my, my grand, he goes, my grandpa was a pilot and I just love being around everyone. I don't truly believe that, but he can continually claims that's true. What's yours, Sean?

• 15:59Shaan Puri?

  All right. My Billy of the year is going to be an entrepreneur who I think has a, I don't know how close they are to the Billy number. I think they're probably close when you include their wife. That's a little hint for you. I wrote down a couple of bullet points on why this person is a badass. And you know, you're a badass when your couple bullet points goes to the Roman numeral 13. Let me just read these off in rapid succession. Okay, this person has been a rapper, an entrepreneur, an investor, an author. They are a motivational speaker. They have a badass wife who's even more successful than them. They somehow married up even though they're super successful themselves. Four kids. And when I called this person to prep for the

• 16:40Shaan Puri?

  podcast, they were on their way, you know, they're taking care of the kids, taking them to their soccer game, yelling at them, where's your shoes? Where'd you put your shoes yesterday? And that just told me they're plugged in as a dad versus, you know, four other people are raising their kids. They own an NBA team. They're part owner in the NBA team. They built a coconut water brand, a private jet company. They discovered David Goggins before he was David Goggins. They actually invited David Goggins to live in their house and train them every single day for 30 days. They like running, so they created a running festival. They like pickles. They're creating a pickle brand. They created a fake Mount Everest because he's like, I can't go climb Everest, but I'll

• 17:20Shaan Puri?

  take this mountain. I'll climb it 14 times and it's the same height as Everest. He came on the pod and had one of the all time classic lines about some other competitor of his. There he goes, keep the money warm. Thank you for keeping the money warm for me. I'm coming. And keep the money warm has just, it warms my soul. He is just having fun out here. He's got great life philosophies about having adventures multiple times a year to have a life well lived.

• 17:50Sam Parr?

  He also got angry at me for asking him what his monthly burn was.

• 17:54Shaan Puri?

  Yeah, he called Sam out for badgering him. We had to cut it out of the episode because it got so awkward.

• 18:00Sam Parr?

  I did badger him. I said, I'll ask whatever I want and I respect your, I respect you to say no.

• 18:06Shaan Puri?

  I'll ask you the same question seven different ways until you finally wilt. He didn't wilt. He was like, that's personal shit, Sam. You're pissing me off. And he is Jesse Itzler. That is my Billy of the year.

• 18:18Sam Parr?

  That's a good one. Yeah, I I had him on my list. I thought you were gonna pick him, so I I backed off. I think Jesse's an amazing person. He also has this calendar. I keep getting Facebook ads for it, and I'm gonna buy one. Where you like to say, what did he say? He goes, I'm 50 years old. I only have 30 summers left. I'm planning exactly how I'm gonna spend them.

• 18:37Shaan Puri?

  Yeah, exactly. I think it's called Big Ass Calendar. Um, all right. Category number three. What is the biggest change you're making for 2024? But before we do it, we have to say what we said. Last year, Andrew, you said, being better at responding to iMessage. You were like, I've I've gotten my email system under wraps, but you know, you're like, I have so many text messages, I'm bad at replying. It makes me feel like a bad person and a bad friend. Uh, Sam, you said, I'm gonna be less of a dictator.

• 19:07Shaan Puri?

  You said, I'm gonna lead this company without being a dictator and being less metrics obsessed. I'm gonna be more vibe driven, more calm.

• 19:15Sam Parr?

  I nailed it, by the way, just for the record.

• 19:17Shaan Puri?

  Yeah, I was gonna say, and I said, um, I know I'm, I don't know why, I think I said something else, but I think I said, knowing when to use my impulsiveness and when to ignore it. That, so those were our three. Sam, you want to go first? So you said you nailed it.

• 19:33Sam Parr?

  I nailed it. I've I've been way less metric focused. I try not to talk about sales or anything like that.

• 19:38Shaan Puri?

  You're a vibe CEO?

• 19:40Sam Parr?

  I'm a vibe CEO, you know, I'm not the CEO, but my CEO is metrics driven, but I'm not as much. So I I I calm down, and I think I'm very easy to be around at this moment. But next year, so I'm making a few changes. One, I'm gonna move eventually. I think I'm gonna do the most tuxedo guy, tuxedo thing ever. I think I'm moving to like Greenwich, Connecticut. That's not a joke. That's serious. So that's gonna be a big change. But you know what I'm gonna do in 2024 is I'm gonna get, I'm trying grades grayscale. You know, you guys know what grayscale is? It's when you, there's like, um, if you go to, just Google it and you'll see the directions on how to do it. But if you type in on your phone, like color, you should see it where you can switch your iPhone to only be black or white.

• 20:22Sam Parr?

  So I'm doing that right now because I've been using my phone to read books to my daughter, and I hate having that bright, all those colors because she stares at them. But the bigger switch I'm gonna do is I'm gonna get a dumb phone. Have you guys seen dumb phones? It's like a Nokia or a light phone. I cannot stand phone addiction. It's really bothering me. I'm totally addicted. And I'm afraid to set a bad example for my children. So this year I'm gonna move to a dumb phone, which is similar, I guess, to what you're saying, Andrew. You're breaking up with email.

• 20:48Andrew Wilkinson?

  So two, well, two thoughts on that before you jump to that. So one, the bright light you get at night, you want to actually, Peter Attia recommends switching your phone so that it's a red screen instead of grayscale. I can teach you how to do that. You tap your power button twice and you can make it a shortcut to make your screen red. And red light doesn't affect your night vision. So that's what I do.

• 21:10Andrew Wilkinson?

  That said, there's been studies on color and if you decolorize your phone, if you make a grayscale, it's less stimulating. You're less likely to click into stuff. What I've done is actually installed something called Freedom and Freedom plus Screen Time basically block everything.

• 21:27Sam Parr?

  I've been doing that, but with Opal. You know Opal? I think it's the same thing.

• 21:31Andrew Wilkinson?

  Yeah, similar. So it's like, I basically have no ability to get through it. Like there's, I have not been able to figure it out. And so I have no email on my phone. I've blocked a lot of texting. I've blocked every, basically, basically every fun app. And I feel like an addict. Like I feel like really irritable. I'm going through withdrawal right now. But the change I'm trying to make, so I nailed texting last year. I got this amazing app called text.com, which is basically like Superhuman for texts.

• 22:00Sam Parr?

  Dude, you've been tweeting out like links. You're like, you're like refer five people and you get a t-shirt or something.

• 22:07Andrew Wilkinson?

  I love it. I absolutely love it. But the problem with that is that I've now gotten so responsive with texts. I'm so good with texts that I'm getting more texts. So you know, you send more emails, you get more emails. I'm now getting too many texts and because I built my email system last year, I don't respond on email as fast. And so I'm getting more and more texts. So I have that problem. The big thing I'm trying to do this year is I'm trying to break up with email fully. So what I've been doing for the last two weeks is I can't access my email and my assistant sends me screenshots literally of any important email that she thinks I need to respond to. And I just tell her what to do with it. And what's interesting about that is when you're in a flow state, when you're working or writing or doing something,

• 22:49Andrew Wilkinson?

  you'll often have the thought, oh shit, I have to remember to send that email. And so you jump over to Superhuman, you send the email and then, you know, you might see 10 other subject lines. And before I know it, I'm like down a rabbit trail, reading like a Paki McCormick newsletter or responding to a problem or something like that. And so what I'm, what I'm hoping is that this new system will only be the things that I absolutely need to respond to and there's no additional distraction. So we'll, we'll see how it works.

• 23:18Shaan Puri?

  Let me just tell you two wonderful rich guy things that Andrew just did that are true rich guy things, not these fake ass, not these wannabe rich guy things. First thing is, he said, you know what Peter Attia recommends, which is great because he didn't say, you know what my doctor, Peter Attia recommends? He recommended it to me. Yeah, recommends to me when I see him because again, he's my doctor. So that was the first great thing you did. You didn't brag when you could have bragged. The, it's the words not said. It's the dogs that didn't bark, right? That you really gave yourself away as being a truly comfortable with yourself, secure person. And I appreciate that. The second thing, you're basically at the stage of Trump and others that are just like, I just get my email printed

• 24:00Shaan Puri?

  out and put on my desk and I just quickly mark with a pen and then somebody goes, I don't, what is email actually? I actually don't understand how the system works. It just shows up on my desk. You're basically at printed email and printed email is like, you got Louis Vuitton, you got like, you know, Birkin bags, you got, at the very top of the luxury pyramid is printed email and you're basically there.

• 24:21Andrew Wilkinson?

  You know, it's crazy though. It's really not, it's not an inaccessible thing. Like, so I have an assistant in the Philippines and it's like a thousand dollars a month and she does it, right? So it's like, it is something that a lot of people could be doing.

• 24:34Shaan Puri?

  It's not that it's inexpensive. It takes a certain level of confidence in your lifestyle that you're not missing stuff, right? You, you are not lacking something. And so you're able to do this type of system.

• 24:45Andrew Wilkinson?

  So what's interesting though, is I've done this, I've been in this cycle for 15 years, right? Of getting overwhelmed. Usually once a year I get overwhelmed and I dial everything back. And Sam, I've actually had a flip phone. I've tried the dumb phone. At the end of the day, you need to order DoorDash and Uber and do basic things. So it didn't work for me, but I had this moment where I was going through one of these cycles and this was in 2010 and my friend asked me out for sushi. So I live in Victoria, Canada, and I, and Vancouver is about

• 25:18Andrew Wilkinson?

  I don't know, a 35 minute flight away or a two hour ferry away. And so I go for sushi with my buddy and I'm in this mode where I put my phone in my car and I don't look at it. So I go have sushi. We have a great time. We're catching up. At the end of the sushi, I get in my car and I look at my phone. And I've received an email from Mark Zuckerberg. Mark Zuckerberg at the time was famous, but not famous famous, not like he is today. And I emailed him because I heard he was coming to Vancouver. And he didn't respond for two days. And then at eight, eight o'clock at night or seven o'clock at night. I got this email that said, hey, do you want to go for a drink? From him, from Zuck.

• 25:58Andrew Wilkinson?

  And there is, and I checked this email at eight 30 or nine, and there's literally no way to get to Vancouver. After nine PM, the ferry leaves at nine PM. There's no flights, et cetera. And so I missed my opportunity to go out for a drink with Mark Zuckerberg, one on one. While he's out of his element in my hometown. And so I always think about that story. Whenever I block my email and do all these things, I still always think about that.

• 26:23Sam Parr?

  That's insane.

• 26:25Shaan Puri?

  That's so funny. Imagine somebody who's like, yeah, I really want to make this lifestyle shift. It'll be good. I'm going to get off my phone. But you know, what if Mark Zuckerberg just emails me and I happen to be at sushi and I missed the one time he's in my hometown, in my neighborhood. You know, and then like Jessica Biel was there afterwards as she wanted to hang out, but then I just didn't have my phone on me. But it actually happened to you. That's incredible.

• 26:45Andrew Wilkinson?

  It's a very sad story. It's very difficult life.

• 26:47Shaan Puri?

  Have you tried to like catch up with him and be like, Mark? Hey, uh, yeah, I was doing a dumb phone thing. You know how it is.

• 26:58Shaan Puri?

  I'm walking around Menlo Park until I see you.

• 27:03Sam Parr?

  You have to do the, Andrew, what I want you to give up next year, at least when you're around me, maybe Sean as well. Is that stupid thing you, you and Chris always do where you make everyone put their credit cards in at the end of a dinner. You did that with B, Sean, and I won't name the other person. But the dinner that one time, it was probably $600. And I don't know this personal, this person's finances, but I, I know they aren't where you are. And this guy had to pay for like a $600 meal and I didn't want to be a bitch and be like, call everyone out.

• 27:35Shaan Puri?

  We were at sushi and this person doesn't eat fish. So they paid for the meal. They don't even eat seafood.

• 27:42Andrew Wilkinson?

  I think it's such an awkward, it's born, so what basically the story is, uh, we were all out for dinner. And Chris and I said, hey, we're, you know, instead of fighting over the bill, let's just all put our credit cards in. We'll let the, the waiter choose the card.

• 27:54Shaan Puri?

  I wouldn't have fought you. We didn't have to fight.

• 27:57Andrew Wilkinson?

  What I noticed, one of the weird things about making money is that there's this weird dynamic that happens where when the bill comes, if you pay the bill, you're showing off or you're implying they can't afford it. And if you don't pay the bill, you're an asshole because you can afford to. And so that's why we do that.

• 28:17Shaan Puri?

  Well. So Canadian of you. Yeah. Well, all right, Sean, what's yours?

• 28:24Shaan Puri?

  What am I on a biggest change? Okay. Biggest change I'm making, this is something I started to do, but I'm doubling down on it. So this year I turned off two profit streams that I think combined were making like 1.2 to 1.5 million a year of profit. I just turned them off. Nothing was wrong with them. I just turned them off. I lied, actually. There was something wrong with them. They were just okay. Uh, they were just okay. I mean, it wasn't something I really loved to do, wasn't something I hated to do. It was making good money, but it wasn't making amazing money. Can you say what those are? Yeah. One of them was, um, my course. So I, I was teaching this like power writing course.

• 29:06Shaan Puri?

  And, uh, you know, I was only teaching it basically two to three weeks out of the years, you know, roughly 10 days on average a year. But it would generate, you know, whatever million bucks a year of profit. And, um, but I didn't like being a course sales guy. Like I like teaching, but I'd rather just kind of like, maybe just do it for free on the pod or something like that. Do it, do like a masterclass episode instead.

• 29:28Shaan Puri?

  So I, I just decided I'm not doing it. And I was like, okay, that's just like less coming in this year. All right. And that matters to me. Uh, so I'm like, well, but I'm willing to do that. And I also just announced that I'm shutting down my rolling fund. So I'll only be investing personally now. I'm not taking any more outside money. Just because it was like kind of another thing to manage. Like here's a group of investors gonna like these updates. I gotta keep it like, you know, I gotta keep it organized. Oh, should I do this deal? Or should I not do this deal? I just decided I'm just gonna invest my own money. I don't need to do this anymore. And with that comes like a steady stream of fees and carry that would come with a fund. I turned it off. Again, didn't have to turn it off, just chose to turn it off. And the reason why was I realized I was talking to somebody that was, I had one day, like, you know, what's that like a

• 30:13Shaan Puri?

  Christmas Carol movie where like he gets visited by the ghosts and they're like, they kind of tell them the story. Like, I talked to one friend who's in a bad relationship, and they're not getting out. And I'm like, dude, this is not what you want. And they're like, yeah, but it's not terrible. I'm like, but not terrible isn't your goal. And they're like, yeah, but like, you know, I don't know who else is out there. When if I meet somebody else, then maybe, you know, I'll feel and I'm like, you're just not gonna meet somebody else because you're dating this person. And then I met another person who was in a job they did like, same thing. It wasn't a terrible job. So they didn't quit. And they would, they'd be open to a better job, but they weren't seeing a better job because they were so occupied with the one that they had. And so I just kind of realized, if you want something great, you gotta make space for great. You can't just wait till your current

• 30:56Shaan Puri?

  thing gets so bad that you have to end it, or that those new amazing things shows up at your doorstep and it'll be obvious to switch. And you gotta just say no to some things that are just okay, in order to literally create space so that a better thing can come and land in your lap and be there. You have the time, you have the mind share, you have the availability to take the meeting, and something better lands. And that's exactly what's happened this year. Better things have landed because I've done that. And so now I'm like, next year, what else is there that's like, kind of in that middle tier, it's good, not great bucket that I should just, I should just get out? What's it gonna be?

• 31:35Shaan Puri?

  I'm thinking about what that what that might look like. I don't want to say just yet. But yeah, there's there's maybe some other things I could do to free up more time or create some space.

• 31:43Sam Parr?

  What do you think about that?

• 31:43Andrew Wilkinson?

  You know, I actually, well, I, um, yeah, it's funny you mention that. So one of the problems with having a fund or raising money is that you owe people things, right? There's people that have given you millions of dollars. And I actually had a moment yesterday where I had a really busy day and I woke up and I actually felt really excited and creative. And I made this big list of all these things I wanted to dig into that I was excited to learn about and work on. And then, um, there's a really wonderful guy who invested in a fund that we raised. And he gave us, I think, five million bucks or something. And he wanted to get on the phone and understand what was going on with an investment that we made. And so me and Chris had to stop everything we're doing and talk to him.

• 32:25Andrew Wilkinson?

  And we had a, you know, we had a really nice chat with him, but it interrupted my flow state. It interrupted what I really wanted to be doing in my day. And the problem with raising money is that at the end of the day, there's people who can call you and you owe it to answer the phone. And they can interrupt you at any given time. And especially in a rolling fund, there's like 50 of those people. And so I feel the same way. I really think that, um, when you give your time to something like that, you're taking away from something else.

• 32:53Sam Parr?

  But that's, we're going to get to best investment. Or maybe we can go right there, but some of the things that you're doing contradict that and same with me.

• 33:02Andrew Wilkinson?

  Totally. Yeah, like I'm doing the Twitter subscribers, for example. But the thing about it is that I actually enjoy, A, I don't, nobody can email me and say, I'm a Twitter subscriber. I demand your time. I've made it very clear that I'm only doing an AMA once a month. I don't respond to tweets necessarily. I don't guarantee any response. And so most months I spend an hour doing an AMA that I find really fun anyway. So for now, I'm going to continue doing that, but, um, but I've certainly considered that.

• 33:29Shaan Puri?

  Oh, by the way, I have an up, I have an update on my biggest change from last year that I'd said where I was going to be less. I was going to learn when to use my impulsiveness and when not to totally failed at that. We, there was a business idea that we had that we were like, oh, maybe we should do this business. And I was like, here's the reasons why I'm super excited about it. But I was like, you know what? Old Sean would have just started it now. New shot. Here's what I'm gonna do. This business isn't going anywhere. I'm gonna give myself a two-week cooldown period where I've done all the meetings. I'm kind of like, I know what's there. I have the information I need, but I still have to decide, is this a business? Because you know, you don't date a business. You kind of marry a business for like at least a couple of years. And so I said, let me give myself a two-week cooldown period to get off

• 34:12Shaan Puri?

  the impulsiveness. And I made it two days into the impulsiveness period before I had my first customer and I was running and it was so good. And I was like, oh, I definitely didn't do the thing that I would have advised me to do, which is to say, if you still want to do this in two weeks, then you know, this is a great business for you. And I kind of failed at that, I gotta admit. So still working on that one. I'm gonna keep that one on the list for this year.

• 34:35Sam Parr?

  And impulsively shut down your rolling fun. Let's do person you'd bet it all on. So mine was between two of our guests, actually, Jason Yanowitz and Austin Reeve. Jason Yanowitz started Blockworks. It's a crypto media company. I don't even like crypto, but I love Jason and I love his media company. He's scaled it to, I don't know, tens of millions in revenue. And then Austin Reeve started Morning Brew, who was my competitor. Now I've gotten really close to him because he's in my core group at Hampton. But I'm gonna give it to Austin because he's already sold most of his business, Morning Brew. I think he was 26 when he sold it at a $75 million valuation. The company now is doing high eight figures in revenue. I think whatever Austin Reeve does, I would, I would

• 35:18Sam Parr?

  blindly put money in. I would, I would invest in him blindly.

• 35:23Shaan Puri?

  Wow, that's not who I thought you'd pick. Austin's amazing, but that's, you've come full circle. You're, you're former competitor now turned, dare I say it, hero?

• 35:34Sam Parr?

  Well, look, I love these people that have the perfect balance of optimism and pessimism. You know, like they're like optimistically pessimists, like where they think something amazing is gonna, is gonna happen, but they're fairly conservative and they plan for the downside. So he's interesting to me.

• 35:52Sam Parr?

  Cool. Who you got, Andrew? Who would you bet it all on?

• 35:55Andrew Wilkinson?

  So mine's not really a business person necessarily. Um, you know, I've been thinking a lot about like AI disruption. And I think that if I had to bet it all on one business, that would be incredibly hard because I think in AI, there's so many second order and third order consequences and levels of disruption. So my thought was actually, if I could just be an investor in a podcaster, someone with a personal monopoly. And my idea was Andrew Huberman. So I think he's got a incredible brand. And he's doing the thing that he loves and is kind of made for. He's insanely likeable. He loves talking about all these interesting people about all these interesting things. People have this incredible affinity for him and they will basically do anything that he says.

• 36:40Andrew Wilkinson?

  If people advertise with him or he talks about a product, everyone will buy it, which means that his ads, like we tried to buy an ad for Aeropress a year ago. We just got an ad for Aeropress literally yesterday. And I think we paid some, you know, very high number because his audience is huge.

• 36:56Sam Parr?

  Did you see results from it yet?

• 36:58Andrew Wilkinson?

  Uh, I don't know yet. I can report back. Um, but anyway, he, his business, I'm like, that is a completely undisruptible business unless he gets hit by a bus or something.

• 37:08Sam Parr?

  The best line was from Rob Dyrdek. We asked him how much it costs to advertise Momentus on the pod, on, on Huberman's pod. And he goes, I don't remember how much it was, but I could tell you whatever it was, it probably wasn't enough. Cause he moved the needle for us that much.

• 37:24Shaan Puri?

  Yeah, that's amazing. All right. My person I had bet it all.

• 37:29Shaan Puri?

  Sam, are you sitting down?

• 37:30Sam Parr?

  Yeah.

• 37:31Shaan Puri?

  It's you, bro.

• 37:32Sam Parr?

  Me?

• 37:33Shaan Puri?

  It would be you. It would be you. And let me tell you why. Let me tell you why. Not just for the reasons that you think you're talented, but there's a lot of talented people. You're smart, but there's a lot of smart people out there. I this year have really come to appreciate more than ever. And I think it's because I've moved out of the, I'm going to be CEO and operator role to more like, I'm going to be investor and other, trust other people to operate, you know, these businesses that we own.

• 37:56Shaan Puri?

  You, the underrated trait that I had been severely underweighting in my little mental model was.

• 38:04Shaan Puri?

  Like, is this person going to be focused? Are they going to get distracted? Is this person going to be loyal? And are they going to take this seriously? And when it comes to that, like, we have a lot of friends that are, you know, they're talented and they're successful, but they have shiny object syndrome. I'm one of them. We have a lot of people that will, if they, if they do something, they kind of know they got 10 more shots on goal. And they're just going to keep trying different stuff until they figure out the little thing that works. Every time you talk to them, if you catch up with them every quarter, they're going to have a new narrative. You're not like that. And I've now learned that people like that, they just win. And the people, the people who are steady and solid, and I, and I feel like to have a certain level of seriousness about them when it comes to doing something, like, I don't really care what it is.

• 38:49Shaan Puri?

  Like, when you were writing your blog posts for The Hustle early on, even before the newsletter, just like, yeah, we're going to write a blog post that needs to get a bunch of people to subscribe and follow us. And you took it incredibly seriously. And when you were hosting events, you took it incredibly seriously. And when you're doing Hampton, you take it incredibly seriously. You do one thing, and you take it very, very seriously. And if I'm going to bet at all on somebody, that's really what I want is a certain level of seriousness. It's something, it's a trait I've come to admire. Like, we hired a CMO into our e-commerce business. And this guy, Chris, and he's amazing. Not because he's the most talented marketer. And like, if you go on Twitter every day, there's these like e-comm guys, I don't know if you guys see this, it was just my feed, of guys just bragging about this like campaign they did and this new ad technique they did.

• 39:33Shaan Puri?

  And he's not like that. He's just blocking and tackling every day with a certain level of seriousness. And the beautiful thing is, I know this guy's going to stay focused and only work on this. He doesn't have three side hustles. He doesn't have his own podcast and rolling fund. He's just going to stay focused on this for the next four years. And when he does that, and he takes it seriously, and he's going to like do all the obvious things, he's going to win bigger than the kind of like talented person who's all over the place. And I know that's a big contrast to me because I'm more of the talented person who's all over the place. But I've seen the value in the other side now. And I'm like, that's who I need to surround myself with because those people win.

• 40:08Sam Parr?

  Well, I appreciate you. I love the love and I love you for saying that. That's very kind. I um, I, we had a, like, we did these MFM meetups recently. Um, and I called in one, to one last night, Sean. And apparently the thing is, is they put on their badge who they like more, you or me.

• 40:26Shaan Puri?

  They'll never tear us apart, bro. I don't even want to know the results. They'll never tear us apart.

• 40:30Sam Parr?

  Obviously, every brown person, every Indian person had Sean.

• 40:35Sam Parr?

  But I was shocked, maybe I shouldn't have been shocked. You were, you were a fan favorite. So by you liking me and them liking you, they are now my fans too, maybe I hope. But I appreciate that. Thank you very much. I think that, um, focus will change your game, Sean. And if you want, you know, like, this is a little crude, but you know how you're supposed to like rub one out before you have, before you like do something bad with your, with someone that you're not supposed to. If you want, you could do that to me. I will help you. I'll be your hand. I'll keep you focused.

• 41:09Shaan Puri?

  I don't know what that offer was. That was kind, I think.

• 41:15Sam Parr?

  I just offered my hand to you. Yeah, I got you.

• 41:18Shaan Puri?

  All right.

• 41:19Sam Parr?

  All right, what's the next one? Best business for someone else to go into?

• 41:23Shaan Puri?

  Yeah, what, what's a great business idea that someone else should go do?

• 41:28Sam Parr?

  Do you know what we said last year? I think mine was a washer and, a washer and dryer that's two in one. Andrew said empty, empty leg flights. And then Sean said school for starving artists, like turn art into commercial things, for example photographers.

• 41:45Shaan Puri?

  Yeah, all right. So I don't think anybody did any of those three. So, uh, what do we got this year, boys? We got, we got to step it up.

• 41:52Sam Parr?

  All right, I think I've got a pretty, I think it's practical. So, since the beginning of this pod, Sean, I've said that I think privacy is going to be more important. And it's gonna, that's a mega trend. I said that, uh, things like DuckDuckGo are gonna get a lot bigger. I think they have gotten huge, but not as big as I thought, because it hasn't been easier than, it's been more like a vitamin, not necessarily a painkiller. I still think, uh, it's gonna get big, that space. And I think in particular, what you're gonna see is companies who are tailored for It's gonna start with first like executives and people like us who are have audiences. And it's gonna be something like where they protect your information online. So I've gotten like, I've signed up for a few of these services and I'm alerted if one of my

• 42:37Sam Parr?

  passwords gets hacked, or they'll say like, hey, um, we know where you live because we saw you post a picture of your car, then we did Google Maps and we see your car in front of the house and we just predicted where you live. And we, and, and so I'm using a bunch of these, I'm testing a lot of them out. I think these are gonna be really popular. So for example, cyberhealth.co, I've not used these guys yet, but I like, like the premise that they provide. But I think what's gonna happen is there's gonna be, it's gonna start with like five or $10,000 a year services that are a little bit more towards executives. And then it's gonna trail down. And I think Gen Z is gonna be all about privacy in the next 10 years. So that's what I'm interested in.

• 43:12Shaan Puri?

  Dude, that's a great one. I like that one a lot. I totally agree with you. This feels a little semi-gluteidy, like, uh, hey, wait, is Sam onto something here? I think you, I think you might be onto something. Andrew, what you got? What's the best business for someone else to go do?

• 43:24Andrew Wilkinson?

  So I love this one. I think I would do this if, um, if I was gonna start a business. And, uh, my idea is AI Tinder. So imagine you go on Tinder. And so, so what got me thinking about this is, um, Dolly and all these image generation tools can now create photorealistic images. And I don't know if you guys have seen them, but there's now Instagram influencers, um, who are beautiful men and women who make $10,000 a month on Instagram.

• 43:51Sam Parr?

  Dude, I just kept getting this, I kept getting this lady come up on my Twitter and I'm like, this lady's very attractive. What's her story? Like, why do I keep getting the same person going on my story? And it, they don't say she was fake, but I'm like, this is definitely fake. This person's not real. Then I had to Google it and it, and she was fake.

• 44:06Andrew Wilkinson?

  Yeah. I mean, and, and they, they can, I mean, it basically, you can look at the image and almost not know. So my, here's my idea. So you basically generate, um, like thousands and thousands and thousands of fake digital men and women. And then you have Tinder and you basically, um, you make it like a casino, right? So you're swat, you're swiping and let's say you match with a, a really hot digital girl and then you have to text with her. And there's some sort of algorithm where you have to win her over to exchange photos and start talking or whatever. And I just think if you gamify dating, right? I mean, it's kind of, it's something that like, you know, people in relationships can even do this, right? It's just kind of like scratching an itch. I think that's something that would just absolutely blow up.

• 44:50Shaan Puri?

  But you're saying they know it's fake, right? You're saying

• 44:53Andrew Wilkinson?

  You know it's fake.

• 44:54Shaan Puri?

  The game is to, it's almost like, you know, flirting.

• 44:57Andrew Wilkinson?

  You're getting better and like, people might see this as like creepy. And it's like, no, these bots can train people how to not be creepy. Right? Cause you're never going to get another photo if you're creepy.

• 45:07Sam Parr?

  We've talked about replica. Do you remember replica? It was like

• 45:10Andrew Wilkinson?

  It's not very good.

• 45:11Sam Parr?

  Digital girlfriend or boyfriend. And they like changed part of their algorithm or something about like what they allowed people to talk about. And one of the, one of the guys killed himself, like one of the customers killed himself. Like these people fell in love with these women, these fake women. So it's pretty wild.

• 45:28Shaan Puri?

  Yeah, that's crazy. All right. Best business for someone else to go do. Okay. I had a couple of ideas. I think anything in the guns and ammo space, I think is a great one. But I didn't want to pick that one. I think distressed venture capital, Andrew, I think you guys are on top of this, which is a bunch of companies that are good products, have revenues, but they are not going to be able to raise their next round and they're going to go die and something, you know, creating a business around that is good. But the one I picked is Tik Tok shops. So I don't know if you guys are paying attention to this.

• 45:58Sam Parr?

  They're killing it.

• 45:59Shaan Puri?

  The number one book in the world right now, do you know what it is? It's the shadow work journal. Number one book in the world. What is the shadow work journal, you ask? Well, it's this goddamn book that you can't, you know, is just going crazy on Tik Tok. It's basically, and what it is, is Tik Tok not just launched the ability to shop. They've launched the ability for anybody to be an affiliate of any product without having a relationship with the company. So created this giant, like, you know, network sales thing. It's like, almost like an MLM. Tik Tok has turned into a giant MLM. So basically you can, as a creator, just find a product in the shop that's eligible for commission. You make a video about it and you get a commission every time they go buy it. That's why this, this journal is the number one product in the world. It's sold over half a million copies of this journal.

• 46:44Sam Parr?

  Yeah, it sold, Tik Tok tells you how many it's sold, half a million. This is crazy.

• 46:48Shaan Puri?

  And that's, that's through the Tik Tok shop. Then you have Amazon. It's the number one book on Amazon too. So you add another half a million on that, right? That, that's easily a million copies have sold of this, of this one journal. And this is like in a two and a half, three month span. This is not very long. And, you know, I'm the type of person where I meet people like I meet Mois and you know, he's like, yeah, I did Facebook ads for native deodorant. I was like, okay, well, what worked? It's like, yeah, back then, you know, the clicks were just super cheap. There weren't very many people advertising on Facebook, especially a product like this. It was just mobile games or something. And you're like, damn, man, that was the glory era of Facebook ads. Now it's all so expensive. Now it's so competitive. But you know, if I was doing this in 2012, that was the time. And oh, I wish I bought Bitcoin back in

• 47:30Shaan Puri?

  2011 or 2012, when my friend first mentioned it back in this, you know, $130. That was the time. I always wish I was there back in the time. Well, guess what? There's a golden arrow that's happening right now, and it's TikTok shops, right? TikTok shops is currently in that like, it's very cheap. It's not that saturated. And TikTok is very motivated to promote these things. And TikTok customers are not like, fully acclimated to the fact that now a bunch of the TikToks they see are selling products. And so the conversion rate is going to be higher. And these windows don't last for very long, but they do last, you know, and when you can go make hay during these periods. And so I think if I was, you know, 23 years old, there's nothing else I would rather be doing than trying to create something that's going to sell through the TikTok shop platform.

• 48:15Shaan Puri?

  TikTok is even paying for like, they'll subsidize your product. So if you have a $60 product, it'll be for sale for $30, but you're still getting 60 because TikTok is subsidizing products that they want to promote and and giving you the full value of them. So you're getting TikTok to pay for half the half the product sometimes, or 30% of the product sometimes. It's pretty insane.

• 48:33Sam Parr?

  Yeah, this is wild. And I see that guy Isaac from Mini Katan or whatever. What's it called?

• 48:38Shaan Puri?

  Katana, yeah.

• 48:39Sam Parr?

  Mini Katana, like sharing all of his TikTok shop details. And it's wild. It's pretty crazy.

• 48:45Shaan Puri?

  Kind of like when the iPhone came out, people start making apps for the App Store, but you could see the charts. You could see what's getting downloaded. The same thing with shops. You can go see what's selling well and how many units it's sold. And you can kind of either use that to either create a competitor or like, just sort of like abstract away and be like, oh, it's this type of product that's doing well at this price point that's doing well on TikTok. Let me go, let me go after that. All right, that is part one. I gotta go take a pee break, get some water, take a rest. But we got so many trophies still on the table that have to be given out for the Millie Awards. We got six or seven of my favorite categories. We saved the best stuff for last. So after this, go listen to part two of the 2023 Millie Awards.