Why Attention is the #1 Asset in Business

In this episode, I sit down to discuss the most important shift happening in culture and business today. I emphasize why attention remains the world's number one asset and why you cannot afford to be romantic about the platforms of yesterday. I also dive into my philosophy on entrepreneurship: why I view myself as a firefighter and how I detach my self-worth from followers and accolades to focus on the purity of the game. You’ll learn about:The Power of Consumer AttentionWhy Technology is UndefeatedHow to Balance Conviction with True HumilityThe Difference Between Micro Adversity and Macro SuccessWhy You Need to Start Embracing the AI Movement

• 0:00Speaker 00

  So many people that have become wildly successful and have sustained even their careers, it's because they have been nimble and they have ebb and flow through anything that's new and fresh. They didn't turn against it, right?

• 0:10Speaker 01

  It is, the story is old as time. The biggest rock bands in the world, when MTV came out, refused to give their music videos to MTV because they thought it was giving away music for free.

• 0:20Speaker 01

  But Madonna and Prince and Michael Jackson and Twisted Sister and Duran Duran knew the opposite. And within three years, they were the most famous artists in the world. And so, yeah, I think, again, when you dig in to uphold yesterday, you always lose. It doesn't mean there aren't great things about yesterday. There's romantic things. We see all the content. Why the 80s were great and that. Sure, and when you think back to your childhood, it's always simpler and all that. But in business, if you are fighting the truth of where reality is, that is a losing formula. This is the Gary Vee Audio Experience.

• 0:58Speaker 00

  We say good morning to Gary Vaynerchuk. It's good to see you. Thank you for being with us.

• 1:03Speaker 01

  Good morning, everyone.

• 1:04Speaker 00

  Thank you so much. So when you hear that, when you hear that you are considered one of the leading global minds in your expertise, how do you feel?

• 1:12Speaker 01

  It makes me feel proud to make my parents proud. I think it's a big framework for me. It's humbling.

• 1:22Speaker 01

  The serendipity of DNA and circumstance, like I'm ironically very detached from my professional career and the Gary Vee of it all. It feels good, but it's not really how I think about the world.

• 1:35Speaker 02

  What does that mean, you're detached from the Gary Vee of it all?

• 1:38Speaker 01

  You know, I think you all, obviously, are public figures. Like, we have our professional careers and I try to be as great at it as possible. And entrepreneurship, you know, as a sports fan, entrepreneurship's the closest thing you can get to sports. Where like, you're playing on the field every day. But, you know, I don't get my validation from being how many followers I have or how much money I make or, you know, these incredible accolades of like, leading mind. I get my validation in a much more private, simple setting, which I actually think makes me very dangerous in a good in my business. I think it allows me to be on the offense. I think it allows me to take risks. I'm not scared to lose. I'm not scared to do this interview in three years

• 2:19Speaker 01

  and be asked why I lost it all, or why did I make those wrong predictions. I think it's, I think, I think can balance conviction and confidence with true humility, you get very strong. You know, giving some flowers to a true LA legend, may rest in peace Kobe Bryant. I think, back to the athlete analogy, I enjoy the practice when no one's watching as much as I enjoy when the world is watching. And so, yes, I think I love the game of entrepreneurship. I like playing it. My joy is, you know, as this all plays, is building all these businesses or interacting with all these people, whether it's a lemonade stand or in a conference

• 2:58Speaker 01

  room in my office. That is my enjoyment. The process is my enjoyment. I love entrepreneurship, not for the trophies or the things it gives me. I like it for the purity of the game.

• 3:10Speaker 00

  How do you feel when you're not winning? Or are you always winning?

• 3:13Speaker 01

  You know, it depends. You know, I think in business, you're actually always losing in the micro. You know, as, as a CEO of many different companies with thousands and thousands of employees, even driving here today, there's three or four micro fires. You're, you're a firefighter. In fact, sometimes when I fly to other countries, when it says occupation, just for fun, I'll write firefighter, because I feel like that's what I'm actually doing. I'm fighting fires. But in the macro, I'm winning, right? So in the micro, it's, there's a lot of adversity, micro adversity. I'm also a very HR-driven CEO, so I get very into feelings and like, you know, when, you know, someone's father passed, or someone's, I mean, three, four years ago, we had employees who house burnt down. Like, those things

• 3:57Speaker 01

  affect me and those are challenging. But, you know, I'm always winning and always losing. It's kind of what I signed up for.

• 4:04Speaker 00

  Your whole philosophy is built around perpetually chasing consumer attention.

• 4:09Speaker 01

  Yes.

• 4:10Speaker 00

  Yes. And could you, if folks out there that are watching, they may not be familiar with you or this, what you kind of set the table?

• 4:16Speaker 01

  Yeah, I mean, everybody's watching, like, every single decision you make is based on something you've consumed. Like your political views, your T-shirt that you bought, what team you root for, which actor you like, what banana bread you bought, like every single decision. Uh, how your parents talked to you, who you talked to, like, the only thing that really moves a human being is information. The only way to have someone consume the information is to have their attention.

• 4:46Speaker 00

  Yeah.

• 4:47Speaker 01

  So, you know, whether you're raising a child or you're trying to build your coffee business or you're trying to get more ratings for this show, it is all just attention and attention moves. This platform was by far the most important platform for attention for 70, 80 years of society. There wasn't even a distant second to television. You know, 30 years ago, the internet was in, you know, became consumerized and over the last 10 to 15 years, social media became the primary platform for attention. Um, and in 15 to 20 years, it might be something else. It might be VR or something else, but I am not romantic about which platform I'm going to put out my information.

• 5:29Speaker 01

  I, I write books in physical form, people read them. I, I'm doing this interview. Uh, I'm happy to do a blog or a podcast. I'm happy to be on TikTok or Instagram or Snapchat. I'm agnostic on where the consumer attention is, but I'm not ideology driven on where it should be. Most people want people's attention to be in the place that is in their vested interest.

• 5:53Speaker 00

  Yes.

• 5:54Speaker 01

  Right? So they hold on to yesterday and they're romantic and they're delusional about today or they're, they've got reasons to push against the truth of today. Technology's undefeated, it will always change. You know, when television started, the radio people and the print people made fun of TV. It was a new invention that wasn't going to be important. It was bad for children to watch. This is what we do. So I'm very into human behavior. I'm very into history telling me the future. And when I consume anything new that is going on, I take it from that lens.

• 6:25Speaker 00

  I think there has to, and I think to your point which you're articulating, there, I think in order to continue to be successful, you have to be willing to recalibrate. Right, and to meet the needs of the moment and to be, right? Would you agree with that?

• 6:37Speaker 01

  Of course.

• 6:38Speaker 00

  Because so many people that have become wildly successful and that have sustained even their careers, it's because they have been nimble and they have ebbed and flowed through anything that's new and fresh. They didn't turn against it, right?

• 6:48Speaker 01

  It is, the story is old as time. The biggest rock bands in the world, when MTV came out, refused to give their music videos to MTV because they thought it was giving away music for free.

• 6:57Speaker 03

  Holiday drinks are now at McDonald's. Like the new Red Bull Frosted Cranberry Energizer. It's Red Bull meets cranberry flavors topped with cold foam and sprinkles. Made to charge your holiday spirit. Now at McDonald's.

• 7:14Speaker 01

  But Madonna and Prince and Michael Jackson and Twisted Sister and Duran Duran knew the opposite. And within three years, they were the most famous artists in the world. And so, yeah, I think, again, when you dig in to uphold yesterday, you always lose. It doesn't mean there aren't great things about yesterday. There's romantic things, we see all the content, why the 80s were great and that. Sure, and when you think back to your childhood, it's always simpler and all that. But in business, if you are fighting the truth of where reality is, that is a losing formula.

• 7:47Speaker 04

  You feel as you get older, it's somewhat easier to be romantic? I mean, I feel like the younger generation has such a grasp on all these changes. And as we get older, we're resistant to it a little bit. Is that because we're afraid or we're just like romantic with, oh, it's always worked this way? Why would I change?

• 8:01Speaker 01

  Yes, we're romantic, we're locked in. We don't want to put in the work again to learn the new thing. We're complacent, we become more fear-based as we get older. You have more to lose, but we grew up and we made fun, you know, with AI. I tell a lot of friends, I'm like, you've become your grandma that you made fun of 20 years ago for not using AOL Instant Messenger or having a smartphone. Like, yes, that's the track of the human being. It is what we do and that's fine. I'm, you know, to me, that is, as an entrepreneur, that's the opportunity. I prefer most people stick to yesterday. It means that I can win more.

• 8:45Speaker 01

  I'll speak my truth because I want everyone watching winning. But they're not my children, they're not my sister. Like, I'm not trying to convince people. I have conviction of what the truth is. But the more people that stay on the sidelines to all this stuff, the more opportunity there are for the people that are winning.

• 9:03Speaker 00

  Thank you so much.

• 9:04Speaker 01

  Thanks for having me.

• 9:04Speaker 00

  I'm gonna keep on talking to you.

• 9:05Speaker 01

  Thanks for having me.

• 9:06Speaker 00

  Thank you for hanging with us.

• 9:07Speaker 01

  Everybody, if you enjoyed this podcast, please go back and look at the prior episodes, they're loaded. I appreciate your attention and thanks for being part of the show.

• 9:16Speaker 03

  Holiday drinks are now at McDonald's. Like the new Red Bull Frosted Cranberry Energizer. It's Red Bull meets cranberry flavors topped with cold foam and sprinkles. Made to charge your holiday spirit. Now at McDonald's.

• 9:31Speaker 01

  Journey. See you later.