Episode 144: Starting a Business

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Welcome back, everybody.
Today we're going to be talking

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about starting a business and
basically we're going to run

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through what I've been doing for
the past.

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I guess it's over a year at this
point now, Over a year and since

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I started my production company
and we really started first

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creating our own original IP in
what we can have ownership over,

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right?
And that's what I'm doing with

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this Mongolian documentary
'cause I looked at other

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production companies like
Miramax, like Netflix and like

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other things, streaming services
and such.

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Netflix is a little different,
though not your average

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production company 'cause they
don't believe in sets and lots

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and property, really, But they
always believed in having kind

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of an automated in home theater,
which is very, very different

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than creating your own original
IP, which is kind of what I'm

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doing.
And that's where we're going to

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kind of yeah, yeah, yeah.
Well, I was going to just.

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Real.
Quick and say that yeah, you

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were going to critique kind of
no, it's not the things of what

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I I which I've been doing.
Yeah, yeah.

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I'm curious.
What I was going to say is that

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that's what you're supposed to
do.

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You're looking at your best
competitors out there that

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you're going to run up against
and you go like and you copy

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what they did that that works.
And that is what people forget

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in business.
It's like everything doesn't

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have to be original.
OK.

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But sorry, go ahead.
What do you mean by oh, yeah,

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yeah.
Reiterations.

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Well, that that's another thing
that I've been looking into for

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production.
How many specifically is

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redistributing movies throughout
different parts of the world and

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re licensing things as well?
And say, oh, I'm a production

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company and I buy up this
section of movie that hasn't

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been distributed here before and
I put it in theaters, let's say

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in Asia.
And then I get moviegoers in

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Asia to go see the movie
henceforth.

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Redistribution, right?
But yeah, no.

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What?
What were you thinking?

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What's on your mind about?
It I was thinking more that you

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were, you started a, this idea
of generating your own IP, but

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you looked at what the biggest
guys do in the industry because

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that's what we did.
And, and every company I've

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started at where I was in the
very beginning, as we looked at

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who our competitors were and
what we wanted to be.

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And, and no matter how small or
how large they were, they're

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like, wow, they have these guys
do it right.

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These guys do it right.
These guys do it crappy.

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I'm going to do something, a
combination of two or three of

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these, and then that's what what
my thing is going to be.

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And I thought that was really
cool. 100% And I just add on to

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that as well.
I looked at things like Magnolia

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Pictures, which was a production
company that was originally

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owned by, I can't remember who
was.

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I actually met him the other
day.

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And then that was purchased by
Mark Cuban, I think around 2012.

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But they started in the
documentary world because it's

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it's cheaper.
It's a cheaper way to make a

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really quality product, which is
the movie.

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And not to take away from or to
deter from the overall vision

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that yes, we want to make a very
accurate, accurate portrayal of

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these Mongolian herds people.
But at the same time, you can't

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negate the idea of what we're
also trying to do, which is

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create a business acumen around
creating these, these movies and

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these products.
If you if you don't generate

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eyes looking at this, then
you're doing it for nothing

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exactly, except for your own
self.

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What do you want to call it?
Ego stroke, ego.

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Stroke, you know, that's the
what was it who were the last

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two that I was citing you saying
about funding your own movies,

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Kevin Costner and.
Yeah, you were talking about

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that with me today, actually.
Yeah.

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And who was the guy that did
Godfather?

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Same thing.
They they went out and they're

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like, well, I know better than
everybody.

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Else Francis Ford Coppola.
Yeah.

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Right.
And they went out and did their

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own movies and they spent four
or $500 million apiece on what

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they thought was the best movie
as opposed to looking what what,

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what the world is looking at
right now and how they're

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dealing with it.
And what is, what is the

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receptiveness of your audience
for something like that, unless

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you're just building it for
yourself.

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And if you want to drop 500
million on a movie to make

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yourself feel better about all
the things you a movie should be

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in your opinion, you know, and
not a lot of people.

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I mean, very, very, very few
people have that option in real

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life.
And you know, when you think

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about business, when you start
up, you, you look around you and

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you want to do something and you
think you're going to do it

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better than someone else.
I mean, that's, this is

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something that people haven't
thought of or this is something

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that they have thought of.
But people right now we're doing

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in a crappy fashion and I can do
it better.

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That was our original thing was
we thought we could do it

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better.
And that turned out to be true.

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And then we jumped.
We, we, we sort of, we grew, you

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know, we grew from a paper to an
online to an Internet to, you

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know, that kind of thing.
And then we, you know, most

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recently into AI.
So it's it's always been this

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forward progression because you
can't stand still in any type of

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video industry because it's now
TV today is not what it was 10

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years ago.
Oh no, people are constantly

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looking for content to put out.
It's crazy because people are,

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well, it used to drops whole
seasons at once and now they're

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doing this limited kind of
release 1 so that it drives the

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viewership so that viewers have
something to look forward to.

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Much like cable, if we remember
every Friday, something would

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come out and that's hence
driving the viewership once

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again.
Whereas people just used to

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binge watch and then they'd say,
well, what's next?

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And then they'd hop over to a
different streaming service,

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Ring.
And so I think trying to

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maintain that viewership over
time is really what this limited

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release strategy is doing.
And a 24, too, is doing a very

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interesting thing, has been
doing a very interesting thing

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for a long time, which is they
say, well, the movie's only

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going to be in theaters for two
days, and then you drive

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viewership for those two days.
And then, wow, oh, my God, we've

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made ticket sales enough to keep
distributing this in the

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theater.
Well, it's gonna actually be

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another week.
It's actually gonna be another

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two weeks.
It's actually gonna be a month.

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Which is what happened with the.
Brutalist about two years ago

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where you had that movie, it was
gonna be originally in theaters

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for three days.
And anyway, I think it was in

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theaters for like 4 months or
something like that.

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It's crazy.
Wow.

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'Cause it drove.
And I mean, that's the kind of

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the whole thing is, is like
rethinking it.

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Because I, I remember 7-8 years
ago and I maybe even 10 years

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ago when Netflix came on to the
stadium and just started writing

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checks to anybody that was
producer, hey, here's $1,000,000

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go make a movie, you know, and
they were just doing everything

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to just build every bit of
content they possibly could

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shitty or not shitty.
And they did this.

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And it's like at at a time when
they believed and they were,

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they were, they were right, that
content was going to be king if

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you had the biggest, the biggest
library.

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But a lot of other like
Paramounts and your Warner

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Brothers and those, they have
huge libraries.

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So they didn't have to do that.
So these guys are making it now

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quicker, faster, cheaper, you
know.

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I mean when you don't own
property too and you don't have

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to rent studios it makes it more
difficult.

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But at the same time you can
just go to Europe and shoot

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something in like 4 weeks and
then you can come back and be

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done with them.
And you do not hear about who

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was it?
I want to think of him, the

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funny guy living color you.
You would know him did.

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Living.
Super hot star.

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He does comedies.
He did the not Adam Sandler.

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You know, thinking of Adam
Sandler, No.

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No, no, no, the weird, really
weird face does weird comedy

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did.
I'm trying to remember.

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Recent or not?
Recent Tim Robinson did.

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Think of Tim Robinson.
Is that here you're thinking?

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About no, no, he, he's the guy.
And, and the reason I was

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picking him is because at his
peak, he was making $28 million

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a picture up front pay.
They don't, they don't do that

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anymore.
You know, you know, Matt Damon

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doesn't get $28 million for a
photo for.

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And you start to look at these
people and are like, wow, you

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know, and like the people that
started the Marvel movies were

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getting two or three $4 million
movie and they were the stars.

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And you think like, wow, 15
years ago, those people are

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getting 20 million bucks and
those movies were grossing 200

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million.
Now those movies are grossing a

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billion and they're paying them
4 million.

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And you're thinking like, how do
they wow, it just moved?

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Is that completely true?
Extended Jim Carrey was made

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pretty high on these.
Well, they're they're not

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getting paid what they were
getting paid in guaranteed

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salaries before now.
You guys see it?

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Yeah, A.
Piece of what it does and in the

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olden days, a piece of what it
does.

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Like Damon's the ultimate one
for making the the the what he

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calls his stupidest decision
ever.

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But wasn't he was in the Bourne
Identity thing and he was he was

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on the second or third film in
Bourne Identity and the Bourne

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series not born and did he's one
of the one of the ones that he's

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playing.
But what's the one?

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The water.
The Water Movie.

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Oh, you're talking about Avatar?
Yeah.

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Avatar, he got a chance to be
that guy in Avatar and the guy

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said I'll give you 10% of gross
crazy 10% and like 2,000,010%.

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And it's like, and I turned it
down and it's, it's like a $2

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billion movie.
I think it's so funny to turn

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down James Cameron because you
have the Titanic, you have

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Terminator Two, you have all of
these out of the park hitters

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that are absolutely amazing.
He's a self-taught pencil

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artist.
He's a drawer.

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He also draws.
He's been at the bottom of the

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ocean.
This is a man that can really

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accomplish anything that he sets
his mind to.

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You got me.
Curious.

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Yeah, that's why I'm like any.
I'd be so interested.

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Any bad any.
Is there a badge of James

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Cameron movie?
I I would love to hear of one,

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'cause I can't think of any off
the top of my head that I

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haven't just absolutely hit it
out of the park.

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But yeah, now going forward for
my company at least, what we're

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going to do is we're going to
finish post production for

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Mongolia.
We're going to keep trying to

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hit the road on this animated
piece as well, which is taking

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longer than I would have thought
to get purchased, but it's going

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to happen eventually.
And so we're still selling the

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original IP, but I'm trying to
think and we have leads for

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acquisition as well after post
production is completed for the

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Mongolian documentary.
We have no guarantees, but we

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have several promising leads and
relationships that have been

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developed, which is great.
But at the same time, it just,

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it takes a while.
It takes a while, right?

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And for me, what I would like to
see is other avenues like like

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redistributing a movie or
something like that, that would

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be a quicker way to generate
income.

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But I mean, we can't all have
that, of course.

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But at the same time, either
renting equipment as well.

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Renting equipment is a huge part
of it as well.

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And yeah, so I'm thinking, well.
That's why I have a job.

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That's the that's the whole
thing.

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Because that keeps your income
at a place where you're, you're

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hungry, but you're not starving
because if you're starving,

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you're going to sell it for
nothing.

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I mean, the whole Rocky story.
Remember him, He had he was on

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00:12:07,680 --> 00:12:10,600
the street, been kicked out of
his apartment, was living on the

227
00:12:10,600 --> 00:12:12,200
street with his dog.
And he had the Rocky, the

228
00:12:12,200 --> 00:12:15,880
original Rocky.
And they wanted they didn't want

229
00:12:15,880 --> 00:12:20,560
him as the lead actor.
And he said no because he got

230
00:12:20,560 --> 00:12:24,080
like 500,000 or 400,000 offered
to buy the movie outright, just

231
00:12:24,080 --> 00:12:26,240
take it.
And which would have been huge.

232
00:12:26,560 --> 00:12:28,600
You know, your first movie, 400
grand, come on.

233
00:12:29,200 --> 00:12:33,360
But you can't be the lead boxer.
And he's like, no, and he didn't

234
00:12:33,360 --> 00:12:36,920
take it.
And so the difference is, is

235
00:12:36,920 --> 00:12:41,760
that he became a superstar
through time because he's stuck

236
00:12:41,960 --> 00:12:45,360
by his guns, but he had nothing.
And he and, you know, and it was

237
00:12:45,360 --> 00:12:48,080
like, wow.
And you look at that, you're

238
00:12:48,080 --> 00:12:50,680
going like, whoa, made the right
decision.

239
00:12:50,960 --> 00:12:53,560
I wonder how many times you
could pick to someone and say,

240
00:12:53,760 --> 00:12:57,920
Hey, I stuck by my guns and I
played Penguins, flapping dogs.

241
00:12:59,920 --> 00:13:03,200
And I got, you know, because
I've seen, I mean, I've seen so

242
00:13:03,200 --> 00:13:07,160
many companies start to rise up
and start to do really, really

243
00:13:07,160 --> 00:13:09,360
well.
And then another company comes

244
00:13:09,360 --> 00:13:12,040
along and says, Hey, we'll give
you a 10,000,015 million.

245
00:13:12,040 --> 00:13:15,720
Because they're at the front of
a curve that's growing and

246
00:13:15,720 --> 00:13:17,240
they're, they're really cutting
edge.

247
00:13:17,640 --> 00:13:21,760
And then and they, they turn
down the deal and then they

248
00:13:21,760 --> 00:13:25,040
don't, they, they, they slowed
down and then someone else

249
00:13:25,040 --> 00:13:27,000
passes them and then they're
worth, they're worth like

250
00:13:27,000 --> 00:13:28,480
pennies.
And then they go bankrupt and

251
00:13:28,480 --> 00:13:30,600
they're nothing.
I, I, there there was a

252
00:13:30,600 --> 00:13:33,400
streaming company that used to
do stream stock prices.

253
00:13:33,400 --> 00:13:38,800
It was a little, a little, a
little tiny app in the early

254
00:13:38,800 --> 00:13:41,080
90s.
And you could, you could

255
00:13:41,080 --> 00:13:46,120
download it to your, your, your
Netscape at the time is what,

256
00:13:46,120 --> 00:13:49,600
what the browser was.
And this was show the stock

257
00:13:49,600 --> 00:13:52,360
prices and you could put in all
your stock prices and you could

258
00:13:52,360 --> 00:13:55,640
see them change and you could
click on them and see more

259
00:13:55,640 --> 00:13:58,080
information about the stock.
And that was like the most

260
00:13:58,080 --> 00:14:02,720
amazing thing in the world.
And they got offered six or 700

261
00:14:02,720 --> 00:14:05,240
million to sell that little
thing.

262
00:14:06,280 --> 00:14:08,040
They didn't do it because
they're like, we're going to go

263
00:14:08,080 --> 00:14:09,880
blah, blah, blah, we're going to
be the greatest.

264
00:14:10,160 --> 00:14:12,560
And that's when push technology
was a big thing.

265
00:14:12,760 --> 00:14:14,720
And they're like, piss on that.
We will beat that.

266
00:14:14,720 --> 00:14:20,120
And in a year they were
negotiating a deal for like 20

267
00:14:20,120 --> 00:14:24,600
million and it fell through.
And that's what I remember and I

268
00:14:24,600 --> 00:14:28,760
was like, it was like 12 months
later they were getting nothing.

269
00:14:28,840 --> 00:14:31,120
I mean, think about that.
Well, this.

270
00:14:31,160 --> 00:14:32,200
Goes back to what you were
saying.

271
00:14:32,200 --> 00:14:34,960
I had.
I had. 700 million in my hand

272
00:14:35,720 --> 00:14:40,080
now I'm now I'm, I'm fighting
for 20 and 20's a lot.

273
00:14:40,440 --> 00:14:44,640
But you know, it's, it's, it's
the, the thought of what you had

274
00:14:44,640 --> 00:14:47,280
and lost, you know, because you
made a different, you took a

275
00:14:47,280 --> 00:14:49,240
different path.
And, and, and that's kind of

276
00:14:49,240 --> 00:14:51,800
like the way your business is.
You, you pick different

277
00:14:51,800 --> 00:14:55,320
directions and things like that.
I mean, we, you you will have

278
00:14:55,320 --> 00:14:59,360
those as you go through and as
you start this business and as

279
00:14:59,360 --> 00:15:02,240
you grow this business, you'll
have certain decisions you make

280
00:15:03,240 --> 00:15:06,240
and you can't look back.
You can't.

281
00:15:06,320 --> 00:15:07,760
You can't.
You can't look at the stupid

282
00:15:07,760 --> 00:15:08,560
ones.
Yeah, I was.

283
00:15:08,560 --> 00:15:12,320
Going to say this reminds me of
the investment strategy that you

284
00:15:12,320 --> 00:15:14,720
were talking about, the very
wise advice that you gave me.

285
00:15:14,720 --> 00:15:17,400
You said what, would you rather
have money in your bank account

286
00:15:17,400 --> 00:15:20,920
now or would you rather have
nothing tomorrow?

287
00:15:20,960 --> 00:15:24,040
And I said, well, I'd rather
have money in my bank account

288
00:15:24,040 --> 00:15:27,120
now.
Yeah, I'd rather I'd rather be

289
00:15:27,120 --> 00:15:28,480
able to do it now.
Exactly.

290
00:15:28,480 --> 00:15:31,720
I mean, that's that's that is
that is a safer bet.

291
00:15:31,720 --> 00:15:34,680
But people that are, you know,
at your age level, it's like,

292
00:15:35,160 --> 00:15:38,160
would you rather be worth 100
million or would you rather be

293
00:15:38,160 --> 00:15:42,200
worth a billion?
I mean, most people would say

294
00:15:42,200 --> 00:15:45,520
I'd rather be worth a billion.
And it's like, and in your mind,

295
00:15:45,520 --> 00:15:49,680
if it's a sure thing that you're
going to hit this and if

296
00:15:49,680 --> 00:15:53,160
everybody around you is telling
you that we're going to roll

297
00:15:53,160 --> 00:15:57,240
tenfold in the next two years,
you you would be reluctant to

298
00:15:57,240 --> 00:16:00,160
drop back and sell for the 100
billion, right.

299
00:16:00,760 --> 00:16:03,560
Yeah.
You feel like, wow, that's not.

300
00:16:03,600 --> 00:16:06,640
And and also you have to realize
that, you know, people don't

301
00:16:06,680 --> 00:16:09,320
start this for the sole reason
of making a ton of money.

302
00:16:09,320 --> 00:16:12,440
I don't think anybody that is
really successful in business

303
00:16:12,440 --> 00:16:15,320
did it because they were going
to make dollars and make big

304
00:16:15,320 --> 00:16:17,800
money.
That was a side thing that they

305
00:16:17,800 --> 00:16:20,360
were they saw this thing and
they said, people will come to

306
00:16:20,360 --> 00:16:22,960
me because I'm doing something
better than everybody else and

307
00:16:23,320 --> 00:16:26,160
something that's going to be
used by so many and they're all

308
00:16:26,160 --> 00:16:28,360
going to let you know.
And that kind of mindset as

309
00:16:28,360 --> 00:16:34,040
opposed to we have to do XY or Z
and we can't do that because I

310
00:16:34,040 --> 00:16:36,120
won't make as much money.
We can't, you know, people don't

311
00:16:36,120 --> 00:16:39,040
make that.
I don't think that successful

312
00:16:39,040 --> 00:16:43,480
businesses make decisions based
upon how much money they're

313
00:16:43,480 --> 00:16:47,760
going to get unless it's right
near the end of selling.

314
00:16:48,200 --> 00:16:51,360
That's when they start to make
decisions on we're going to cut

315
00:16:51,360 --> 00:16:54,080
the stuff and make the, you
know, the profit much, much

316
00:16:54,120 --> 00:16:55,480
higher.
Why you doing that?

317
00:16:55,560 --> 00:16:58,280
Well, because then we can sell
it for a multiple of 6 instead

318
00:16:58,280 --> 00:17:01,720
of a multiple of 4, whatever,
you know, and the multiple of 6

319
00:17:01,720 --> 00:17:03,360
will be a lot more and blah,
blah, blah.

320
00:17:03,560 --> 00:17:06,480
And then that, that's more of a
financial decision as opposed to

321
00:17:06,480 --> 00:17:09,480
a business decision where you
think like, put the money in the

322
00:17:09,480 --> 00:17:11,119
company, grow it, grow it, grow
it, grow it.

323
00:17:11,359 --> 00:17:15,400
You know, I mean, we, we, we had
that when we were a service

324
00:17:15,400 --> 00:17:18,760
Bureau or there were 23 services
and they were all paper based

325
00:17:18,760 --> 00:17:21,800
services and copied documents
and put them online.

326
00:17:22,000 --> 00:17:24,200
And they didn't put them online.
They sent to their customers

327
00:17:24,200 --> 00:17:28,119
overnight and we were actually
buying a feed which cost a

328
00:17:28,119 --> 00:17:32,720
quarter $1,000,000, which was a
lot of money in 91.

329
00:17:33,320 --> 00:17:36,960
And people looked at us like our
customers will never come to

330
00:17:36,960 --> 00:17:38,680
you.
They will never do that.

331
00:17:39,080 --> 00:17:42,360
And we're like, so you're,
you're, you're telling me that

332
00:17:42,360 --> 00:17:47,240
your, that your customer will
wait till tomorrow and pay more.

333
00:17:47,240 --> 00:17:50,000
And they're like, absolutely,
they're loyal to us.

334
00:17:50,240 --> 00:17:54,640
And this is 20 different people
yelling at Richard and I and

335
00:17:54,640 --> 00:17:58,440
Richard and I looking at each
other like, are we, are we could

336
00:17:58,440 --> 00:18:01,360
we, we, we were actually
wondering if we were trying to

337
00:18:01,360 --> 00:18:05,360
figure out how we were wrong
because it didn't make any, it

338
00:18:05,360 --> 00:18:08,080
wasn't logical, you know, I
remember that.

339
00:18:08,080 --> 00:18:12,400
And it was like, they're wrong.
It's it's, it makes no sense.

340
00:18:12,400 --> 00:18:16,400
It's not, it's not.
But it made sense to them

341
00:18:16,520 --> 00:18:20,720
because they weren't going to be
online and, and, you know, four

342
00:18:21,200 --> 00:18:24,720
or five years.
I feel like customer loyalty

343
00:18:24,840 --> 00:18:29,400
only exists in bars where people
are befriend the bartender.

344
00:18:29,760 --> 00:18:32,640
I don't know, I feel like
there's very few sets of

345
00:18:32,640 --> 00:18:37,000
circumstances like that where
you can acknowledge a customer

346
00:18:37,040 --> 00:18:41,560
and make a personal friend or
friendship that results in kind

347
00:18:41,560 --> 00:18:46,400
of a loyalty ordeal or a a way
like that.

348
00:18:47,040 --> 00:18:50,000
And it's very few and far
between as long as it's.

349
00:18:50,040 --> 00:18:52,400
Advantageous to them, they will
be your customer.

350
00:18:54,160 --> 00:18:55,400
They need say that one more
time.

351
00:18:55,400 --> 00:18:57,600
Advantageous.
As long as it's advantageous to

352
00:18:57,600 --> 00:19:01,560
them, they will be customer.
And these people that were loyal

353
00:19:01,560 --> 00:19:05,320
customers to these other
services, they would buy a

354
00:19:05,520 --> 00:19:09,560
document for them for $150.00
and it would be delivered the

355
00:19:09,560 --> 00:19:14,160
next day from us.
They would get it right now,

356
00:19:14,880 --> 00:19:16,440
they print it out on their
printer.

357
00:19:17,160 --> 00:19:19,600
They have no delivery fee.
They'd have it immediately.

358
00:19:19,680 --> 00:19:27,600
And it cost up from $12.00.
What would you love to argue

359
00:19:27,600 --> 00:19:30,360
against that being of a better
way to do it?

360
00:19:32,640 --> 00:19:34,120
Crazy.
Yeah.

361
00:19:34,320 --> 00:19:36,480
But you know, and that that was
the mindset.

362
00:19:37,360 --> 00:19:39,360
But they're arguing from their
point of view.

363
00:19:39,360 --> 00:19:43,520
And their point of view is, is
that if if you're successful, I

364
00:19:43,520 --> 00:19:48,080
don't have a job, none of them
would have a job and none of

365
00:19:48,080 --> 00:19:49,520
them did.
They were all gone.

366
00:19:49,640 --> 00:19:53,280
It was just, it was a wiping out
of an industry.

367
00:19:53,280 --> 00:19:55,720
I mean, you saw this, you know,
but you saw this a lot in the

368
00:19:55,720 --> 00:19:59,080
Internet.
You saw it with, what is it,

369
00:20:01,440 --> 00:20:04,680
travel services.
There used to be travel services

370
00:20:04,680 --> 00:20:07,920
in like every other strip mall.
You know, you want to go to

371
00:20:07,920 --> 00:20:10,760
Europe, you want to go here.
We have all the booklets and

372
00:20:10,760 --> 00:20:12,680
we'll book everything and we'll
set it all up for you.

373
00:20:12,680 --> 00:20:15,600
Now you can now you can actually
view the route that you would

374
00:20:15,600 --> 00:20:18,640
take and you can look at the
hotels inside and you can do all

375
00:20:18,640 --> 00:20:21,560
your own thing.
There are the, you know, really,

376
00:20:22,560 --> 00:20:26,040
you know, Primo places that you
can pick and they'll find places

377
00:20:26,040 --> 00:20:28,760
for you and do it all for you.
Yeah, it's only extremely high

378
00:20:28,760 --> 00:20:32,080
end really at this point that
people are looking for I think

379
00:20:32,080 --> 00:20:37,280
as well yacht rental or things
like that are going to be always

380
00:20:37,280 --> 00:20:42,680
through a kind of, I don't know,
an outlets of that proportion.

381
00:20:42,680 --> 00:20:45,600
But at the same time, yeah, I
can't really think like do

382
00:20:45,600 --> 00:20:48,640
people still use travel agents
for baseline?

383
00:20:48,920 --> 00:20:53,600
I'm going to, I don't know, West
Virginia and I need to do this.

384
00:20:53,600 --> 00:20:56,240
I feel like it's really only
excursion based at this point.

385
00:20:56,240 --> 00:21:00,080
It's not even hotel based
because it used to be more hotel

386
00:21:00,080 --> 00:21:01,000
based.
I feel like.

387
00:21:01,600 --> 00:21:04,920
Well, see.
Corporations will negotiate fees

388
00:21:04,920 --> 00:21:07,560
with, with certain hotels and
certain airlines.

389
00:21:07,560 --> 00:21:11,080
So if you use them that you get
a, a discount because we have

390
00:21:11,360 --> 00:21:13,800
like we got 8000 employees
programs and what have we're

391
00:21:13,800 --> 00:21:16,320
gonna use American all the time.
You guys are going to give us

392
00:21:16,320 --> 00:21:19,640
base discount all the time.
You find out that it's really

393
00:21:19,640 --> 00:21:22,200
not that much better than, you
know, your own.

394
00:21:23,040 --> 00:21:27,520
You know, I, I, I saw this for
10 years commuting to New York

395
00:21:27,520 --> 00:21:32,200
and I saw that they had a, a, a
hotel that was close and it was

396
00:21:32,320 --> 00:21:36,160
$300 a night, 250 a night.
But it was always that and no

397
00:21:36,160 --> 00:21:40,720
matter what it was.
And I would go stay at Holiday

398
00:21:40,720 --> 00:21:42,400
Inn Express and it was 99110 a
150.

399
00:21:42,400 --> 00:21:46,560
And, but it was 6 blocks away
and, and they would bitch at me

400
00:21:46,560 --> 00:21:49,400
about taking a cab.
And I was just like, the cab

401
00:21:49,440 --> 00:21:54,720
cost 15 bucks, you know, And
also I like that part of town

402
00:21:54,720 --> 00:21:57,080
better than where, you know, we
were midtown.

403
00:21:58,120 --> 00:22:01,040
So it was, it was a different
vibe and a different feel and

404
00:22:01,040 --> 00:22:02,160
all that kind of stuff like
that.

405
00:22:02,160 --> 00:22:04,440
So it was very, very different.
But you would see this all the

406
00:22:04,440 --> 00:22:08,760
time that, that was negotiating
strategy.

407
00:22:08,760 --> 00:22:13,840
But, but, but, but you're right,
I think that, that so many of

408
00:22:13,840 --> 00:22:16,880
the, the agents, they've had to
be much higher quality.

409
00:22:17,240 --> 00:22:22,840
I picked a lot of them because
they, they're, they're better at

410
00:22:22,960 --> 00:22:26,760
PS and QS, so to speak.
They don't make mistakes, which,

411
00:22:27,000 --> 00:22:29,440
you know, I generally make a lot
of them.

412
00:22:29,440 --> 00:22:31,720
I mean, I don't know how many
times I've booked a flight that

413
00:22:31,720 --> 00:22:35,800
was at, you know, 12 AM and I
thought it was at 12 in the

414
00:22:35,800 --> 00:22:37,040
middle of the day and it was 12
AM.

415
00:22:37,080 --> 00:22:38,720
OK.
When you're really tired, it's a

416
00:22:38,720 --> 00:22:42,320
terrible idea.
Yeah, I never booked one day

417
00:22:42,360 --> 00:22:44,200
booked.
All that kind of stuff like

418
00:22:44,200 --> 00:22:46,000
that.
I have a hotel in one day and

419
00:22:46,000 --> 00:22:48,200
I'm not supposed to get there
until the next day or the day

420
00:22:48,200 --> 00:22:50,440
before and.
There's a time difference.

421
00:22:50,440 --> 00:22:52,000
There's a 15 hour time
difference.

422
00:22:52,400 --> 00:22:54,560
It's actually Sunday, not
Monday.

423
00:22:55,120 --> 00:22:56,800
No.
I did that recently when we were

424
00:22:56,800 --> 00:23:02,720
in Portugal and I booked a
flight the day before for the

425
00:23:02,720 --> 00:23:06,240
15th or what have you.
But it was the 15th of March.

426
00:23:06,240 --> 00:23:09,800
It wasn't like the 15th of this
this other month that we were

427
00:23:09,800 --> 00:23:11,760
in.
And we get to the airport and

428
00:23:11,760 --> 00:23:15,040
then it's funny though, 'cause I
was talking to the ticket lady

429
00:23:15,040 --> 00:23:16,720
and she's like, I don't know why
this isn't working.

430
00:23:16,720 --> 00:23:20,080
And it very clearly stated like
what the date was for the ticket

431
00:23:20,080 --> 00:23:21,600
right there.
And she was looking at it, she's

432
00:23:21,600 --> 00:23:24,200
like 15th, today's the 15th.
I don't understand why this

433
00:23:24,200 --> 00:23:26,160
isn't working.
And then I went to the other

434
00:23:26,160 --> 00:23:28,200
people and they were like, yeah,
15th.

435
00:23:28,200 --> 00:23:31,480
I don't know what, what this is.
And it, I think it was through

436
00:23:31,480 --> 00:23:35,360
Ryanair as well.
So what ended up happening was I

437
00:23:35,360 --> 00:23:37,320
was like, So what is the, the
reticketing fee?

438
00:23:37,320 --> 00:23:40,400
And they're like, well, the
reticketing fee is $700.00.

439
00:23:40,400 --> 00:23:44,480
And it was, it was $400.00 for
the ticket originally.

440
00:23:44,960 --> 00:23:48,200
And I said, well, what happens
if I just cancel?

441
00:23:48,200 --> 00:23:50,080
And I'll be like, oh, well,
you'd just have a $50

442
00:23:50,400 --> 00:23:52,000
cancellation fee.
And I was like, why wouldn't I

443
00:23:52,000 --> 00:23:53,920
just cancel and then rebook it?
I don't understand that.

444
00:23:54,240 --> 00:23:55,240
It was very.
Funny.

445
00:23:56,080 --> 00:23:57,480
Yeah.
Incredible.

446
00:23:57,720 --> 00:24:00,600
You got to follow the right path
if you want to be able to deal

447
00:24:00,600 --> 00:24:02,240
with it.
And then, oh, exactly, You know,

448
00:24:02,240 --> 00:24:04,800
when we start about when we talk
about business, about starting a

449
00:24:04,800 --> 00:24:07,480
business, one of the things that
I always like to reiterate to

450
00:24:07,480 --> 00:24:10,760
people is if you're going to
start a business, think about

451
00:24:10,760 --> 00:24:12,480
what you want to do and what you
want to accomplish.

452
00:24:13,040 --> 00:24:17,800
Don't to get into the muck and
the mire of well, a better

453
00:24:17,800 --> 00:24:19,920
incorporated.
I got to go to the county and I

454
00:24:19,920 --> 00:24:23,680
got to file the forms and I got
to do all these because those

455
00:24:23,680 --> 00:24:27,720
are the things that you know,
they may be hard for some, but

456
00:24:27,800 --> 00:24:32,240
they're actually the easy part
of running a business is filing

457
00:24:32,240 --> 00:24:36,120
all the corporate paperwork to
get legal and in your local

458
00:24:36,360 --> 00:24:39,720
place and all that.
That is the last thing that you

459
00:24:39,720 --> 00:24:42,080
should worry about.
You need to worry about one

460
00:24:42,080 --> 00:24:43,760
thing and one thing only.
You're going to build something

461
00:24:43,760 --> 00:24:46,200
that's going to make money.
And if it doesn't make money in

462
00:24:46,200 --> 00:24:49,640
in theory, I mean that's the
point of starting a business.

463
00:24:49,640 --> 00:24:51,160
You're going to make, you're
going to make something, you're

464
00:24:51,160 --> 00:24:53,040
going to build something, you're
going to do something that's

465
00:24:53,040 --> 00:24:55,320
going to earn a revenue stream,
that's going to support you,

466
00:24:55,320 --> 00:24:57,600
support a group, support
something, pay for itself,

467
00:24:57,600 --> 00:25:02,240
whatever the case may be.
So don't worry about all that

468
00:25:02,240 --> 00:25:05,320
stuff about getting an office or
getting a phone system or

469
00:25:05,520 --> 00:25:09,400
because I've done businesses
where people really wanted to

470
00:25:09,400 --> 00:25:12,960
focus on the shit that didn't
make any money.

471
00:25:13,720 --> 00:25:16,600
And it sidetracks you because
it's easier.

472
00:25:17,400 --> 00:25:22,440
It's a lot easier to find an
office than it is to design a

473
00:25:22,440 --> 00:25:26,360
product that people will buy.
It's a lot easier to set up a

474
00:25:26,360 --> 00:25:29,680
phone system, as hard as it is
to set up a phone system for

475
00:25:29,680 --> 00:25:33,560
three different offices and
three different locations, than

476
00:25:33,560 --> 00:25:38,200
it is to actually design a
product, Find out the market,

477
00:25:38,400 --> 00:25:40,520
find out if someone's going to
buy it, and if they're going to

478
00:25:40,520 --> 00:25:42,280
pay more than it cost you to
make it.

479
00:25:42,840 --> 00:25:46,760
You know enough more that you
can sell enough quantity that

480
00:25:46,760 --> 00:25:50,480
it's going to make you be able
to live, you know, and that is

481
00:25:50,480 --> 00:25:53,920
the thing that I see so much
there's well, I got to I got to

482
00:25:53,920 --> 00:25:56,280
file with the county and I got
to and it's like, stop it.

483
00:25:56,280 --> 00:25:58,560
What are you?
What are you going to do?

484
00:25:58,560 --> 00:26:00,080
What are you going to do?
It's going to make you money.

485
00:26:00,360 --> 00:26:05,800
I got a question for you.
On average, for your specific

486
00:26:05,800 --> 00:26:10,720
kind of experience, what would
you say is the least amount to

487
00:26:11,120 --> 00:26:15,640
Max amount of time that a
company takes to earn a profit?

488
00:26:18,320 --> 00:26:26,000
GSI was probably 19 months,
somewhere in that range that's.

489
00:26:26,000 --> 00:26:27,320
Fast.
Yeah, that's fast.

490
00:26:27,360 --> 00:26:29,000
Very.
Fast, but it was paper based.

491
00:26:29,000 --> 00:26:30,360
We pulled the paper off the
topic.

492
00:26:30,360 --> 00:26:32,320
We did it.
We we grew up customer base.

493
00:26:32,320 --> 00:26:34,640
We were, we were very diligent
every day.

494
00:26:34,640 --> 00:26:37,880
I got it the phone and I had
this book and I called through

495
00:26:37,880 --> 00:26:40,800
the book and the names and made
them and and said, hi, my name

496
00:26:40,800 --> 00:26:42,080
is Phil Brown.
We're from global securities

497
00:26:42,080 --> 00:26:44,080
preparation.
We do SEC research.

498
00:26:44,280 --> 00:26:46,560
Do you do SEC research?
I've heard I've seen her name on

499
00:26:46,600 --> 00:26:48,000
documents.
Would you like to hear, hear

500
00:26:48,000 --> 00:26:51,240
about our services now I hate
you click.

501
00:26:52,520 --> 00:26:57,680
And then every second, 3rd, 5th,
9th one would say, can I mail

502
00:26:57,680 --> 00:27:00,760
you?
And I would change my thing, my

503
00:27:01,560 --> 00:27:05,080
pitch each time until I got
something that worked and it

504
00:27:05,400 --> 00:27:07,800
came down to like mail me
something, send, I'll send you

505
00:27:07,800 --> 00:27:09,680
something.
I'll do this, we'll do this and

506
00:27:09,680 --> 00:27:11,240
then I'll follow up.
And then I'd have to mark them

507
00:27:11,240 --> 00:27:12,880
and come back and call and say,
got it.

508
00:27:12,880 --> 00:27:15,120
Did you like it?
Our prices are, you know, right

509
00:27:15,120 --> 00:27:16,560
in line.
And then they would come back

510
00:27:16,560 --> 00:27:18,120
and say, why are they cheaper?
And it's like, because we're

511
00:27:18,120 --> 00:27:22,240
better and you know, then you
got to tell them better, you

512
00:27:22,240 --> 00:27:27,600
know, and that kind of thing.
And then I would say intelligise

513
00:27:27,600 --> 00:27:32,000
that came in well conflicts
authority never, never got a

514
00:27:32,000 --> 00:27:36,680
product we made.
We won a contest.

515
00:27:36,680 --> 00:27:41,640
I won a contest as pitches, as a
business pitch and won $10,000

516
00:27:41,880 --> 00:27:45,440
and that was cool.
And we were the most likely to

517
00:27:45,440 --> 00:27:48,760
succeed.
That failed business is had the

518
00:27:48,760 --> 00:27:52,000
most awards to be successful,
but it failed.

519
00:27:52,840 --> 00:27:54,640
And yeah.
I remember when you got the

520
00:27:54,640 --> 00:27:56,440
$10,000 check.
Yeah.

521
00:27:56,440 --> 00:27:57,520
And I have that check under
that.

522
00:27:57,800 --> 00:28:00,480
It's so amazing.
But you know, that was a

523
00:28:00,480 --> 00:28:04,560
business that we are really
focused on things other than

524
00:28:05,160 --> 00:28:07,720
building the product and driving
that.

525
00:28:08,120 --> 00:28:10,720
And, and I think that I mean, I
looked at that back on that.

526
00:28:10,720 --> 00:28:13,920
I say like that was one of the
things that I aired in when I

527
00:28:13,920 --> 00:28:16,640
was intelligized.
They'd already they'd had their

528
00:28:16,640 --> 00:28:21,000
first sale.
They were building a product in

529
00:28:21,800 --> 00:28:27,600
until and it was growing.
And I think about year 4, they

530
00:28:27,600 --> 00:28:28,880
still weren't profitable.
They weren't year.

531
00:28:28,880 --> 00:28:31,760
I don't think they're profitable
in the Year 5 or year 6.

532
00:28:32,520 --> 00:28:34,440
They were cash flow positive at
year 4.

533
00:28:34,440 --> 00:28:38,720
I think 'cause he, he had a two
or three or 4 million put in up

534
00:28:38,720 --> 00:28:40,200
front.
So he had hit a runway.

535
00:28:40,200 --> 00:28:44,320
Oh wow, You know, so he had
venture capital and so.

536
00:28:44,400 --> 00:28:46,880
He had a runway, yeah.
Yeah, he had a runway to do

537
00:28:46,880 --> 00:28:49,160
that.
So it was like year 4, Year 5

538
00:28:49,160 --> 00:28:51,200
before they were even cash flow
positive.

539
00:28:51,720 --> 00:28:54,680
And then, then we took off.
And I think it, it had a lot to

540
00:28:54,680 --> 00:28:56,640
do with changing the interface
of the product.

541
00:28:56,640 --> 00:28:59,200
So it's, it's what the customers
want to see.

542
00:28:59,200 --> 00:29:01,760
And there's a whole lot of we
could argue over all the

543
00:29:01,760 --> 00:29:03,480
different things.
And I'm just.

544
00:29:03,520 --> 00:29:08,960
Curious, yeah, because we're,
we're in year 2, I guess right

545
00:29:08,960 --> 00:29:12,480
now and I mean we haven't turned
our profit yet, but we're we're

546
00:29:12,640 --> 00:29:15,760
coming close to a acquisition
point.

547
00:29:16,280 --> 00:29:21,480
We did not you different from me
when we talk about like this,

548
00:29:21,640 --> 00:29:27,880
this podcast, we did not do this
podcast as a reason that we was

549
00:29:27,880 --> 00:29:30,120
going to make it a business and
drive it into business.

550
00:29:30,480 --> 00:29:33,440
And we kind of like shifted it a
little bit here and there.

551
00:29:33,440 --> 00:29:38,600
So it's not really not that
whereas your movie is different,

552
00:29:38,640 --> 00:29:41,400
your documentary is different.
Your documentary is like you set

553
00:29:41,400 --> 00:29:44,280
out that you're going to do
something that you really

554
00:29:44,280 --> 00:29:47,240
thought was cool and a neat
thing, and it was going to tell

555
00:29:47,240 --> 00:29:50,360
a story and you're going to
offer that story to the world.

556
00:29:50,800 --> 00:29:53,480
And you're going to offer it in
the best possible way that in

557
00:29:53,480 --> 00:29:58,800
platform that you could and that
that would draw eyes that would

558
00:29:58,800 --> 00:30:02,960
want to pay to see it.
And so that is a just a

559
00:30:02,960 --> 00:30:09,640
completely different animal that
you know, in, in many ways to

560
00:30:09,640 --> 00:30:14,400
where you don't see payout and
you only see it yours is all in

561
00:30:14,400 --> 00:30:19,320
like you get a big number and,
and it's done or you get some

562
00:30:19,320 --> 00:30:23,520
revenue stream over time.
Whereas ours was, we had to beat

563
00:30:23,520 --> 00:30:26,320
the, you know, beat the ground
for every single dollar that we

564
00:30:26,320 --> 00:30:29,320
got, you know, one at a time
where as you're beating it,

565
00:30:29,320 --> 00:30:33,080
you're going to beat it and get
500,000 or $1,000,000 in one

566
00:30:33,080 --> 00:30:35,080
shot.
And then you're like, oh, OK,

567
00:30:35,080 --> 00:30:39,480
I'm now on to my next project.
So it's a different it, I think

568
00:30:39,480 --> 00:30:45,200
it's a different way to do it.
So I think it's much, much

569
00:30:45,280 --> 00:30:47,280
harder.
I think what you're doing is a

570
00:30:47,280 --> 00:30:49,720
lot harder than what I did.
Oh, I would completely agree

571
00:30:49,760 --> 00:30:52,520
with you on that.
From my from my perspective, I'm

572
00:30:52,520 --> 00:30:53,640
like, I don't know how you do
that.

573
00:30:53,640 --> 00:30:56,360
I don't know how you could you,
you could you're you're

574
00:30:56,360 --> 00:31:00,160
basically everything is on, you
know, one thing, one project,

575
00:31:00,160 --> 00:31:04,640
one delivery.
But you know, I'm a person that

576
00:31:04,760 --> 00:31:10,080
I'm, I've been, I've been hit in
the face so many times with no,

577
00:31:10,560 --> 00:31:12,840
why are you calling me?
I don't like you.

578
00:31:14,000 --> 00:31:16,840
They say personal things about
me while I'm on the phone.

579
00:31:17,080 --> 00:31:20,840
And remember, if you're talking
to a potential customer, you

580
00:31:20,840 --> 00:31:23,720
cannot tell them to fuck off.
You can't do that.

581
00:31:23,720 --> 00:31:26,240
You have to smile and say, yes,
you're, you're right about that.

582
00:31:26,560 --> 00:31:31,480
I'll be better the next time
because that person in in my

583
00:31:31,480 --> 00:31:35,600
field controlled millions of
dollars in budget, which

584
00:31:35,600 --> 00:31:39,320
ultimately I was going to get.
And you know what I did?

585
00:31:39,680 --> 00:31:43,920
We did it in every single case.
We ate every single top law

586
00:31:43,920 --> 00:31:48,800
firm, top 100, all of them, big
accounting, all of them bankers,

587
00:31:49,000 --> 00:31:52,640
top 30, all of them because we
sat there and it's like, you

588
00:31:52,640 --> 00:31:54,920
know, they'd hit you in the face
over and over and over.

589
00:31:54,920 --> 00:31:58,960
You go to like what do you want?
Oh, I want seven OK, here's 70.

590
00:31:58,960 --> 00:32:00,320
I said 8.
Fuck you.

591
00:32:00,320 --> 00:32:02,320
I want 8 and then you OK, here's
eight.

592
00:32:02,560 --> 00:32:05,080
OK No, I want nine.
OK, here's 90.

593
00:32:05,640 --> 00:32:07,520
OK, 789.
Yeah, yeah, that's good.

594
00:32:07,600 --> 00:32:10,040
I'll I'll buy.
And then you'd be shocked when

595
00:32:10,040 --> 00:32:13,600
they bought.
I remember we we we had so many

596
00:32:13,600 --> 00:32:16,080
like that.
I mean that probably if I was to

597
00:32:16,080 --> 00:32:19,240
look back at the different times
and sales and all the all the

598
00:32:19,240 --> 00:32:22,240
deals that we did.
I mean, the one that I look at

599
00:32:22,360 --> 00:32:27,480
that was probably the most
unusual was Bloomberg.

600
00:32:28,680 --> 00:32:31,640
And I can say that now because
it's like 15 or 18 or 20 years

601
00:32:31,640 --> 00:32:34,880
ago that we did it.
But I remember and it was the,

602
00:32:35,560 --> 00:32:38,360
the Weiss and I's tenant 10th
anniversary we had, we had

603
00:32:38,400 --> 00:32:41,000
developed this no action letter
database and we sold it to

604
00:32:41,000 --> 00:32:43,160
Bloomberg and we gave him a
price.

605
00:32:43,160 --> 00:32:46,080
And I remember my director of
sales that was going in front of

606
00:32:46,080 --> 00:32:50,000
a mirror and he was practicing
saying the word 1.1 million.

607
00:32:50,400 --> 00:32:53,760
And he said I had to say that
like 100 times in front of a

608
00:32:53,760 --> 00:32:55,320
mirror.
So I didn't laugh at myself.

609
00:32:55,680 --> 00:32:57,680
And he just kept saying it like,
well, what's the price?

610
00:32:57,680 --> 00:33:00,360
And he said I was just direct
and I shut up and I did it.

611
00:33:00,360 --> 00:33:01,880
I shut up and I did it.
I shut up.

612
00:33:01,880 --> 00:33:05,840
And he said I did this for hours
because he said I couldn't.

613
00:33:06,160 --> 00:33:08,200
I'm not used to saying that
number to someone.

614
00:33:09,000 --> 00:33:11,560
You know, most of us aren't, you
know, like you, you're going to

615
00:33:11,560 --> 00:33:13,400
go in front of somebody.
You're going to say, what do you

616
00:33:13,400 --> 00:33:17,160
want for the film?
Well, I want $850,000 and you're

617
00:33:17,160 --> 00:33:19,720
going to have to be dead on sure
about it.

618
00:33:19,760 --> 00:33:23,320
And they're going to go or, or
they're probably not, they're

619
00:33:23,320 --> 00:33:24,680
probably going to go, wow,
that's cheap.

620
00:33:24,680 --> 00:33:26,920
And you're going to be over
there going like, my God, this

621
00:33:26,920 --> 00:33:29,480
is going to buy you.
Well, you know, and it's like,

622
00:33:29,600 --> 00:33:33,040
it's the whole attitude.
You can't show that wow, this is

623
00:33:33,240 --> 00:33:35,240
amazing.
I mean, think about the guys

624
00:33:35,240 --> 00:33:38,560
that did a, did a company and
they ran it for five years or

625
00:33:38,560 --> 00:33:42,560
six years and they sold it for
500 million.

626
00:33:42,920 --> 00:33:46,760
Can you imagine just the the the
look, what do you want?

627
00:33:46,760 --> 00:33:51,040
500 million?
I mean, how do you like that?

628
00:33:51,280 --> 00:33:55,040
That chutzpah is just crazy to
me.

629
00:33:55,480 --> 00:33:57,920
And without blinking.
But anyway that he did that and

630
00:33:58,280 --> 00:34:01,840
they walked away.
They said OK, nothing.

631
00:34:03,120 --> 00:34:08,320
Six months to the day, nothing,
nothing.

632
00:34:08,360 --> 00:34:11,600
I'm I'm in Europe with my wife
on the 10th anniversary.

633
00:34:11,600 --> 00:34:13,199
This is the this is after you
were born.

634
00:34:13,199 --> 00:34:16,440
This is the year you were born
and we dumped you off with the

635
00:34:16,440 --> 00:34:17,920
in laws.
And I remember sitting over

636
00:34:17,920 --> 00:34:19,840
there and I said, the only thing
I want to hear is the Bloomberg

637
00:34:19,840 --> 00:34:21,040
deal comes out.
I want to hear it.

638
00:34:22,280 --> 00:34:25,719
And then I, I get there Sienna
and we go in and we check in.

639
00:34:26,080 --> 00:34:27,800
Mr. Brown, Mr. Brown, there's a
message for you.

640
00:34:28,440 --> 00:34:30,120
And I was like, what?
And he pulls out the thing and

641
00:34:30,120 --> 00:34:38,040
he goes, Bloomberg said yes.
And he was like, and they just

642
00:34:38,040 --> 00:34:39,560
called back and said, yes, we'll
take it.

643
00:34:40,000 --> 00:34:41,760
They didn't, they didn't say
anything.

644
00:34:41,760 --> 00:34:43,480
And they never, they were not
negotiators.

645
00:34:43,719 --> 00:34:45,800
They were the opposite of every
investment bank.

646
00:34:45,800 --> 00:34:48,360
Every investment bank I ever
dealt with was like, whatever

647
00:34:48,600 --> 00:34:51,520
number you said, they were going
to beat you senseless.

648
00:34:51,520 --> 00:34:55,239
They were going to say, well, I,
I, you said 100, right?

649
00:34:55,239 --> 00:34:57,480
What about 50?
And then I would go, OK, what

650
00:34:57,480 --> 00:35:00,240
about, OK, 50?
No, no, I don't like 50.

651
00:35:00,440 --> 00:35:03,160
I'm thinking maybe 30.
And then if you would come back

652
00:35:03,160 --> 00:35:05,720
up, 3030 is going to close the
deal.

653
00:35:05,720 --> 00:35:07,680
Is 30 what you want?
Yeah, 30 is OK.

654
00:35:08,240 --> 00:35:10,640
OK, we'll do for 30.
Well, that that's not going to

655
00:35:10,640 --> 00:35:12,520
be for us.
That's going to be for the whole

656
00:35:12,520 --> 00:35:15,680
world.
And you're like, no, you said 30

657
00:35:15,680 --> 00:35:18,280
for your office.
No, no, no, I didn't say that.

658
00:35:18,360 --> 00:35:20,920
You said you said the office.
I I meant for the whole world,

659
00:35:21,640 --> 00:35:24,240
for all 900 million people that
work for us.

660
00:35:24,400 --> 00:35:27,320
And then you're like, so they
would always, it was always

661
00:35:27,320 --> 00:35:30,680
this.
Banks were very, very difficult

662
00:35:30,680 --> 00:35:33,480
to deal with.
Law firms were much more

663
00:35:33,480 --> 00:35:36,480
straightforward.
Bloomberg was one of the most

664
00:35:36,480 --> 00:35:38,880
unusual purchases.
But it was for the news

665
00:35:38,880 --> 00:35:41,320
organization because the news
organization used our tool.

666
00:35:41,560 --> 00:35:43,280
They did not use the Bloomberg
News.

667
00:35:43,280 --> 00:35:45,480
They used GSIS Global
Securities.

668
00:35:45,480 --> 00:35:48,080
That was so funny, you know, And
you're like, what?

669
00:35:49,200 --> 00:35:51,280
Yeah, they use us.
We didn't tell anybody at the

670
00:35:51,280 --> 00:35:52,320
time.
We can tell them now.

671
00:35:52,320 --> 00:35:57,120
It's 20 years later, 15, 2002,
3-4, something like that.

672
00:35:57,880 --> 00:36:00,600
Yeah, so quite a quite a long
time ago.

673
00:36:00,600 --> 00:36:04,640
We can tell the old stories, but
it was just crazy.

674
00:36:04,720 --> 00:36:08,200
And then I, I mean, you know,
I've seen the different

675
00:36:08,200 --> 00:36:09,960
businesses.
We have another one that we did,

676
00:36:09,960 --> 00:36:14,680
which was an online newsletter
service and we were very much

677
00:36:14,680 --> 00:36:17,800
into doing the product and we
had a good product, but we

678
00:36:17,800 --> 00:36:19,160
didn't have a really good sales
team.

679
00:36:19,880 --> 00:36:25,000
And this is before the Internet.
So we were selling an online

680
00:36:25,120 --> 00:36:28,480
newsletter before the Internet.
Think about that.

681
00:36:28,880 --> 00:36:31,640
And it was a fax newsletter that
we sent out every day.

682
00:36:31,640 --> 00:36:35,000
And it was called the Energy
Alert, and it was 3 to 5 pages

683
00:36:35,000 --> 00:36:36,680
long.
It was a summary of everything

684
00:36:36,680 --> 00:36:38,440
that happened in the energy
industry.

685
00:36:38,520 --> 00:36:44,000
The day before we had Dow Jones,
we had all the SEC information

686
00:36:44,000 --> 00:36:46,880
that came out of every oil and
gas company and we summarized

687
00:36:46,920 --> 00:36:51,320
every single thing by 11:00 that
night, 12:00 and we started

688
00:36:51,320 --> 00:36:53,120
faxing it at 1:00 in the
morning.

689
00:36:53,200 --> 00:36:55,840
And this is when you had to pay
by the minute to fax.

690
00:36:56,200 --> 00:37:00,680
So remember a lot more expensive
and we are we are running you

691
00:37:00,680 --> 00:37:03,920
know $5000 a month in phone
services just for that.

692
00:37:04,560 --> 00:37:12,600
And we used to charge I think it
was 2 grand a year or it was

693
00:37:12,600 --> 00:37:17,520
2500 a year for a subscription.
It was just, or was something

694
00:37:17,520 --> 00:37:21,320
like or my yeah, yeah, it was,
it was very pricey, but it was

695
00:37:21,320 --> 00:37:25,480
like, whoa, just just crazy,
crazy, crazy.

696
00:37:25,480 --> 00:37:30,000
But that was something that
petered along and we didn't

697
00:37:30,120 --> 00:37:33,520
really, it wasn't we didn't have
a lot of management.

698
00:37:33,680 --> 00:37:37,720
So, and I look at that, I say
we, we worried a lot about names

699
00:37:37,720 --> 00:37:39,320
and things like that in the
beginning, which is kind of

700
00:37:39,320 --> 00:37:41,920
silly because most of the times
when you think about all the

701
00:37:41,920 --> 00:37:45,040
names and stuff that people talk
about, it's really kind of silly

702
00:37:45,400 --> 00:37:49,760
in the, the, the ownership and
the little pieces of the

703
00:37:49,800 --> 00:37:53,080
ownership and all that kind of
stuff really, really, really

704
00:37:53,080 --> 00:37:57,760
matter when you're successful.
If you're going to be middle of

705
00:37:57,760 --> 00:38:00,920
the road, they don't matter
because you know, and, and I

706
00:38:00,920 --> 00:38:05,320
think if you're really, really
successful and I was getting 101

707
00:38:05,360 --> 00:38:11,160
million and you were getting 92
and you should only get 89 and I

708
00:38:11,160 --> 00:38:16,400
should get 107.
I mean, some people take that to

709
00:38:16,400 --> 00:38:18,800
the grave is the most horrible
decision they ever did.

710
00:38:18,800 --> 00:38:22,080
Whereas for me, I did, I thought
that was kind of silly to worry

711
00:38:22,080 --> 00:38:23,800
about the mice nuts in the
transaction.

712
00:38:24,040 --> 00:38:26,040
You know, I saw this over and
over.

713
00:38:26,040 --> 00:38:30,480
I've seen this in transactions
and and you know that that that

714
00:38:30,480 --> 00:38:35,760
people would think that every
penny was theirs and they would

715
00:38:35,760 --> 00:38:38,840
not they were not into the whole
share thing, which I would say

716
00:38:38,840 --> 00:38:39,960
the.
Majority of people think that

717
00:38:39,960 --> 00:38:42,120
way.
I would say that a lot of people

718
00:38:42,120 --> 00:38:45,600
think that way, that what's mine
and is mine and I earned this.

719
00:38:45,600 --> 00:38:50,720
Even though you've had people
with you for five plus years

720
00:38:50,720 --> 00:38:55,400
that have been doing diligent
work to get you to where you

721
00:38:55,400 --> 00:38:58,160
are, I mean.
We had, we had people there for

722
00:38:58,160 --> 00:39:01,640
18 years and then some of them
were still at the entry level

723
00:39:01,640 --> 00:39:03,760
and they had options.
So they got, they got a pot of

724
00:39:03,760 --> 00:39:08,120
money like you know, 20-30
grand, but then they've been

725
00:39:08,120 --> 00:39:10,760
there for 20 years and the
better, the higher the position,

726
00:39:10,760 --> 00:39:14,040
the more options you got.
So if you're like ACFO or CEO or

727
00:39:14,040 --> 00:39:16,400
one of those people, they got.
Which is an incredibly rare

728
00:39:16,400 --> 00:39:18,520
thing that you did which.
Is the way you would do And then

729
00:39:18,520 --> 00:39:22,080
we came back and said, oh, what
we should do is share yeah.

730
00:39:22,160 --> 00:39:27,200
And so we made a longevity
budget, you know, bonus pool

731
00:39:27,200 --> 00:39:31,680
for, you know, you got paid, I
think 10,000 a year or 15,000 a

732
00:39:31,680 --> 00:39:32,920
year for every year you're with
us.

733
00:39:32,920 --> 00:39:34,840
And we have people that were
here for 18 years and they were

734
00:39:34,840 --> 00:39:41,360
like, so they bought houses.
And frankly, it made no

735
00:39:41,360 --> 00:39:45,600
difference to me.
None, none of my partners,

736
00:39:46,080 --> 00:39:48,080
partners, they were on board
with it.

737
00:39:48,440 --> 00:39:51,040
Everybody, we all chipped in, we
all did this thing and said we

738
00:39:51,040 --> 00:39:54,680
should do more because they have
helped us get here and they've

739
00:39:54,680 --> 00:40:00,440
been here forever, you know,
starting from 198687 and here we

740
00:40:00,440 --> 00:40:04,280
were in 2005 selling the company
and they've been in there and,

741
00:40:04,280 --> 00:40:06,440
and you could, and you could
argue the other argument is,

742
00:40:06,440 --> 00:40:08,120
well, they were paid every day
for that.

743
00:40:08,320 --> 00:40:10,400
They got sick leave and they got
vacation and they got

744
00:40:10,400 --> 00:40:12,200
everything.
And so they've been paid.

745
00:40:12,200 --> 00:40:16,160
They deserve nothing.
And it's like I.

746
00:40:17,000 --> 00:40:20,680
I just, you know, I mean, we
still walked away with duffel

747
00:40:20,680 --> 00:40:23,520
bags of money.
So it's like it's hard not to

748
00:40:23,520 --> 00:40:26,400
want to share a bucket or two
with the people that helped you

749
00:40:26,400 --> 00:40:28,880
get the duffel bags.
But that's, you know, not

750
00:40:28,880 --> 00:40:31,120
everybody feels that way a lot.
A lot actually.

751
00:40:31,680 --> 00:40:34,960
Thompson told us that they'd
never seen anybody do what we

752
00:40:34,960 --> 00:40:38,160
did.
Never because they've they've

753
00:40:38,160 --> 00:40:43,320
been involved in hundreds of
transactions and said we've

754
00:40:43,480 --> 00:40:49,160
never seen anybody do that ever,
you know, put up, shut up, that

755
00:40:49,160 --> 00:40:51,760
kind of stuff.
But hey, you know, it is what it

756
00:40:51,760 --> 00:40:52,560
is.
It was also.

757
00:40:52,560 --> 00:40:54,840
Thompson, too.
Which was kind of a funny

758
00:40:55,960 --> 00:40:58,480
company to say that, you know?
Yeah, well, no, they were

759
00:40:58,480 --> 00:40:59,440
honest.
They were honest about it.

760
00:40:59,440 --> 00:41:01,400
And they were kind of surprised
because it makes them look

761
00:41:01,400 --> 00:41:05,640
really good because we're we're
we're spreading the money.

762
00:41:05,920 --> 00:41:09,400
We're spreading the money around
to a workforce that they're now

763
00:41:09,400 --> 00:41:13,160
going to take on and we're going
to make them extra happy to work

764
00:41:13,160 --> 00:41:15,120
for this new company because
they just got a bunch of

765
00:41:15,120 --> 00:41:17,760
fricking money.
When they ended up stripping it

766
00:41:17,760 --> 00:41:19,640
anyway though, which is kind of
interesting.

767
00:41:19,640 --> 00:41:21,080
Yeah, it took.
It took years 5.

768
00:41:21,120 --> 00:41:22,120
Years.
Oh, it did take years.

769
00:41:22,680 --> 00:41:27,040
I always thought it was.
Well, there's, there's, there's

770
00:41:27,040 --> 00:41:30,920
lots of, there's stages when you
start to buy and sell companies

771
00:41:30,920 --> 00:41:34,440
and we start to see them move
from one entity to the next that

772
00:41:34,880 --> 00:41:37,320
how they get chopped down and
each company's looking at them

773
00:41:37,320 --> 00:41:39,560
for a different reason.
You know, and you, you, you go

774
00:41:39,560 --> 00:41:43,000
in and you, when you work for
multinational, you, you, you

775
00:41:43,000 --> 00:41:45,440
need to know what the plan is.
And they don't want to tell you

776
00:41:45,440 --> 00:41:47,640
the plan because they're going
to freak out because they're

777
00:41:47,640 --> 00:41:50,440
going to say, Hey, we're going
to gut everything you ever did

778
00:41:51,640 --> 00:41:54,080
and just raise the prices as
high as we can.

779
00:41:54,080 --> 00:41:55,760
And then we're going to throw it
all away and we're going to use

780
00:41:55,760 --> 00:41:57,320
our tool anyway.
And you're like.

781
00:41:57,800 --> 00:42:00,840
Yo, well, my question for you as
well.

782
00:42:00,840 --> 00:42:04,240
I mean, if you were making a
Business Today and what is some

783
00:42:04,240 --> 00:42:08,240
advice for either the listeners
or people in general like

784
00:42:08,240 --> 00:42:10,560
myself, which you would give
them?

785
00:42:11,280 --> 00:42:13,720
The first, the first thing that
I do is I say, well, what do you

786
00:42:13,720 --> 00:42:15,520
want to what, what is it that
you want to accomplish?

787
00:42:15,520 --> 00:42:17,320
What is what is the problem
you're trying to solve?

788
00:42:17,760 --> 00:42:20,200
What is it?
You know, clearly write down

789
00:42:20,200 --> 00:42:23,080
what the problems you're going
to solve and then say, OK, you

790
00:42:23,080 --> 00:42:26,040
see a problem that you see that
needs to be solved.

791
00:42:26,720 --> 00:42:29,480
OK, you need to write how you're
going to solve it.

792
00:42:29,480 --> 00:42:32,920
And then you're going to say how
many other people solve it too.

793
00:42:33,320 --> 00:42:36,880
Similarly, don't ever say that
no one does because it's just

794
00:42:36,880 --> 00:42:39,520
not true.
I mean, you know, the, the worst

795
00:42:39,520 --> 00:42:41,720
thing you can say to anybody
else is I have no competitors

796
00:42:41,720 --> 00:42:43,960
because you always do.
They'll, they'll use a Dumber

797
00:42:43,960 --> 00:42:45,880
down, a shittier, cheaper
version.

798
00:42:46,200 --> 00:42:48,240
They'll use a more expensive,
they'll use that.

799
00:42:48,240 --> 00:42:49,360
They're, they're, they're all
there.

800
00:42:49,360 --> 00:42:51,200
They're there.
They're, they're already there.

801
00:42:51,200 --> 00:42:55,320
You're not, you're not unless
you're building the wheel, you

802
00:42:55,320 --> 00:42:57,960
know, and even artificial
intelligence, look at it now.

803
00:42:57,960 --> 00:43:00,720
It's like everything's
artificial intelligence.

804
00:43:00,720 --> 00:43:05,120
Every single thing that you open
up on the web, you know, no, I'm

805
00:43:05,120 --> 00:43:08,200
doing, it's different because
the Mons artificial intelligence

806
00:43:08,200 --> 00:43:10,040
is like whatever everybody's
doing that.

807
00:43:10,040 --> 00:43:11,680
Whatever.
Yeah, it's funny that you see

808
00:43:11,680 --> 00:43:15,040
2IN Silicon Valley right now,
that you see these top three

809
00:43:15,040 --> 00:43:19,320
that came out like, oh, wow, you
can build a company now, and

810
00:43:19,320 --> 00:43:22,720
then in the course of two years
it can be worth $100 million.

811
00:43:23,040 --> 00:43:25,480
But I feel like, I don't know,
you really needed to hit it

812
00:43:25,480 --> 00:43:28,280
early on that because you see
these people constantly trying

813
00:43:28,280 --> 00:43:31,440
to generate a product that are
they're chasing a trend.

814
00:43:31,440 --> 00:43:32,840
I mean, that's what they're
really doing.

815
00:43:33,160 --> 00:43:35,600
When you're jump, when you jump
on board after the fact, I mean,

816
00:43:35,600 --> 00:43:38,440
one of the things is, is that we
used to, people used to say, Oh

817
00:43:38,440 --> 00:43:40,680
my God, you got to be careful
about who you tell what and how

818
00:43:40,680 --> 00:43:42,280
you tell them and all this kind
of stuff like that.

819
00:43:42,280 --> 00:43:44,880
And, and then in the beginning
days, we were, we were

820
00:43:44,880 --> 00:43:46,960
definitely the dragon on the
pile of gold because we had the

821
00:43:46,960 --> 00:43:49,000
best tool in the marketplace and
everybody loved it.

822
00:43:49,000 --> 00:43:50,840
And we were like, you can't tell
you nothing.

823
00:43:51,200 --> 00:43:55,160
And then we started to realize
that, OK, if you're my

824
00:43:55,160 --> 00:43:58,840
competitor and I show you my
product and you see it, well,

825
00:43:59,320 --> 00:44:02,280
where are you working from?
You're working from today's

826
00:44:02,280 --> 00:44:06,840
timeline.
Today's timeline was decided 18

827
00:44:06,840 --> 00:44:10,400
to 24 months ago.
So you're now two years behind

828
00:44:10,400 --> 00:44:12,320
me.
Fucking a go for it.

829
00:44:12,640 --> 00:44:16,760
Build what I have today.
Because if I can't make this

830
00:44:16,760 --> 00:44:21,920
thing two times better in a
year, I shouldn't be here.

831
00:44:21,920 --> 00:44:23,640
You should beat, you should beat
me.

832
00:44:23,720 --> 00:44:26,440
I should lose.
And that was the mentality that

833
00:44:26,440 --> 00:44:29,200
we got.
And it was just like innovation,

834
00:44:29,280 --> 00:44:31,120
innovation, what, what is it?
What is it?

835
00:44:31,120 --> 00:44:34,120
I mean, we were always
overspending on computer

836
00:44:34,120 --> 00:44:36,960
equipment, overspending on
developers, overspending in

837
00:44:36,960 --> 00:44:39,840
every single area that would
make it better than anybody

838
00:44:39,840 --> 00:44:41,600
else.
And it was like, why would you

839
00:44:41,600 --> 00:44:44,080
do that?
You, you, your profitability is

840
00:44:44,080 --> 00:44:46,880
down.
It's like we, we were ahead.

841
00:44:47,640 --> 00:44:50,920
We're ahead, you know, we need
to hear, see what they're doing.

842
00:44:50,960 --> 00:44:53,400
It's like, yeah.
And people, we get all sneaky

843
00:44:53,400 --> 00:44:56,000
and say where you going, where
you saw your product?

844
00:44:56,000 --> 00:45:00,040
And I'm like, yeah, you saw, you
saw our product two years ago.

845
00:45:00,160 --> 00:45:06,600
If you saw it today, OK, you
need to see it 2 years from now

846
00:45:06,720 --> 00:45:10,760
because today is not anything
like what it's going to look

847
00:45:10,760 --> 00:45:13,600
like in two years.
And then then it's like, and

848
00:45:13,600 --> 00:45:15,480
then it sets in because if
you're a follower, you're a

849
00:45:15,480 --> 00:45:18,120
loser, you're going to be a
discounted price guy.

850
00:45:18,160 --> 00:45:19,680
You're always going to have to
discount.

851
00:45:19,680 --> 00:45:22,000
You're going to have to be,
you're going to be you're going

852
00:45:22,000 --> 00:45:24,760
to be chasing the cheap people
that didn't want to pay full

853
00:45:24,760 --> 00:45:28,720
service for my product because
my product was beat you and in

854
00:45:28,720 --> 00:45:31,600
an open, open head on head
competition.

855
00:45:32,200 --> 00:45:34,600
And when it comes right down to
it, if our lawyers were against

856
00:45:34,600 --> 00:45:37,880
your lawyers, we beat you
because we had better

857
00:45:37,880 --> 00:45:40,520
information and information was
the game.

858
00:45:40,520 --> 00:45:43,360
And it was just like how to
access it, how to get it, how to

859
00:45:43,360 --> 00:45:45,440
get it faster.
And so that is kind of the

860
00:45:45,440 --> 00:45:49,040
thing, but it but it's like not
everybody has that mentality

861
00:45:49,040 --> 00:45:53,080
that they want to build
something and continually

862
00:45:53,080 --> 00:45:56,320
innovate it over time.
They want to build something,

863
00:45:56,320 --> 00:45:58,160
sell and be gone.
And that's that.

864
00:45:58,160 --> 00:46:00,680
I don't, I don't, I don't
understand that.

865
00:46:00,680 --> 00:46:03,040
I mean, that's, that's what
you're doing, right?

866
00:46:03,200 --> 00:46:06,160
In a way, yeah.
Well, you're what I'm doing as

867
00:46:06,160 --> 00:46:08,880
well.
It's never it's, it's never been

868
00:46:08,880 --> 00:46:12,680
done before, but it has.
It has been done but a decade

869
00:46:12,680 --> 00:46:16,560
ago in a narrative sense.
And it's also been done through

870
00:46:16,560 --> 00:46:20,720
things like National Geographic
and I mean Anthony Bourdain kind

871
00:46:20,720 --> 00:46:22,960
of in a way.
Not really because you have

872
00:46:22,960 --> 00:46:27,080
these people, these Western
people that have made a film, I

873
00:46:27,080 --> 00:46:31,640
don't know, or a short kind of
mini series about Mongolia.

874
00:46:32,280 --> 00:46:36,320
But at the root of all of it is
teaching based on kind of a

875
00:46:36,320 --> 00:46:40,120
teacher style, which is like,
here's what this is and I'm in

876
00:46:40,120 --> 00:46:41,880
front of the camera and I'm
telling you what it is.

877
00:46:41,880 --> 00:46:45,040
And I'm pointing to things and
I'm saying this is what it is.

878
00:46:45,040 --> 00:46:49,360
Where is what hasn't been done
before is this slice of life

879
00:46:49,360 --> 00:46:53,760
documentary style where you
learn with your eyes of what

880
00:46:53,760 --> 00:46:56,080
these people are going through
and you learn what a different

881
00:46:56,080 --> 00:46:59,120
culture is like.
And the way that I've been

882
00:46:59,120 --> 00:47:01,400
thinking about Western
viewership, because that's what

883
00:47:01,400 --> 00:47:03,520
it's supposed to do.
It's supposed to unite Western

884
00:47:03,520 --> 00:47:06,320
viewership with this kind of
Eastern mentality of an

885
00:47:06,320 --> 00:47:08,560
understanding of the Mongolian
hurts people, right?

886
00:47:08,920 --> 00:47:11,720
And one a few ideas, this great
idea that I came up with the

887
00:47:11,720 --> 00:47:16,920
other day is taking songs like
Doggone Cowboy by Marty Robbins

888
00:47:16,920 --> 00:47:20,320
and then flipping it and getting
a Mongolian artist to cover it,

889
00:47:20,640 --> 00:47:24,640
'cause then you have a Western
idea of a sense of I know what

890
00:47:24,640 --> 00:47:27,600
that song is.
Let me keep my interest in this

891
00:47:27,600 --> 00:47:30,400
film.
So cause a lot of people are

892
00:47:30,400 --> 00:47:32,400
open documentary and they're
like, well, this is different

893
00:47:32,400 --> 00:47:34,720
than what I understand.
Non inquisitive minds are

894
00:47:34,720 --> 00:47:37,720
willing to turn it off.
But if you see familiarity, then

895
00:47:37,720 --> 00:47:39,640
you're more willing.
You're more willing to watch.

896
00:47:39,640 --> 00:47:41,320
It.
I love that.

897
00:47:41,680 --> 00:47:44,720
That was an idea that we came up
with in the the session the

898
00:47:44,760 --> 00:47:47,480
other day with the editor and.
Oh my God, I love that.

899
00:47:48,040 --> 00:47:52,440
That was.
You know cowboy songs from the.

900
00:47:52,440 --> 00:47:54,520
50s because that's what they are
too.

901
00:47:54,520 --> 00:47:56,360
They're heard people are are
Cowboys.

902
00:47:56,400 --> 00:47:58,200
I mean, that's what they are.
That's what exactly.

903
00:47:58,400 --> 00:48:00,480
I've seen the shorts and it's
like it to me.

904
00:48:00,480 --> 00:48:03,880
It's amazing the the the way
they heard with the sticks that

905
00:48:03,880 --> 00:48:06,400
are 19 feet long.
It's like, what the hell,

906
00:48:06,600 --> 00:48:11,080
whoever, even what what is that?
Nowhere you know nowhere do you

907
00:48:11,080 --> 00:48:12,920
see that?
And you don't know what it means

908
00:48:12,920 --> 00:48:15,040
until you see them do it.
And then you're like, whoa,

909
00:48:15,840 --> 00:48:18,680
they, they, they do really wow,
they're really good.

910
00:48:18,680 --> 00:48:20,560
And then you look at what the
saddles they have and they're

911
00:48:20,560 --> 00:48:24,800
like just little tiny things.
They stand too.

912
00:48:24,800 --> 00:48:26,400
They stand for the majority of
the ride.

913
00:48:26,400 --> 00:48:30,000
They don't sit, which is it's
very, very interesting.

914
00:48:30,240 --> 00:48:34,800
And at the same time, I think
for instance, the teaser with

915
00:48:34,800 --> 00:48:37,880
the kids, which I asked you, I
said, how did you feel about

916
00:48:37,880 --> 00:48:39,640
watching that?
He said, well, it reminded me of

917
00:48:39,640 --> 00:48:42,400
when I was a kid.
And I'm like, that's exactly

918
00:48:42,640 --> 00:48:47,520
that is exactly the familiarity.
Nostalgia is a universal

919
00:48:47,520 --> 00:48:52,320
language where is if you can't
tap nostalgia and you can't tap

920
00:48:52,600 --> 00:48:55,080
this level of humility within
the viewer, then you're doing

921
00:48:55,080 --> 00:48:57,920
something incorrect.
And that, that's really what

922
00:48:57,920 --> 00:49:01,960
we're aiming to do with this, in
which National Geographic isn't

923
00:49:01,960 --> 00:49:05,520
teaching you nostalgia, they're
merely teaching you about the

924
00:49:05,520 --> 00:49:06,720
culture.
Yeah.

925
00:49:06,720 --> 00:49:09,320
Which you don't see yourself in.
And once you see yourself in a

926
00:49:09,320 --> 00:49:13,000
culture, then you begin to
understand it on your level, you

927
00:49:13,000 --> 00:49:13,520
know?
Yeah.

928
00:49:13,720 --> 00:49:14,840
And they're.
They're gonna teach.

929
00:49:14,840 --> 00:49:17,240
You facts and you're gonna pull
in feelings.

930
00:49:17,880 --> 00:49:20,640
Yeah, exactly.
And feelings are.

931
00:49:21,160 --> 00:49:25,000
That's what make me watch stuff.
I want to, I want to cry, I want

932
00:49:25,000 --> 00:49:26,760
to laugh.
I want to see things when I see

933
00:49:26,760 --> 00:49:29,720
the kids, when I see them out
there messing around, rolling

934
00:49:29,720 --> 00:49:31,800
around in the dirt and fighting
each other.

935
00:49:31,800 --> 00:49:33,440
And then, you know, you're such
and such.

936
00:49:33,440 --> 00:49:35,880
And then the other guy just hops
up on the horse and rides away.

937
00:49:35,880 --> 00:49:40,000
And I can remember being seven
years old, eight years old.

938
00:49:40,400 --> 00:49:43,640
You know, we would, we would go
out hunting for bottles and buy

939
00:49:43,640 --> 00:49:47,880
candy and steal stuff and, you
know, find a pack of cigarettes

940
00:49:47,880 --> 00:49:50,920
and find one in it and we'd all
take a puff and vomit, you know,

941
00:49:50,920 --> 00:49:53,640
and all that kind of.
Like all this?

942
00:49:53,880 --> 00:49:57,000
I mean, not everybody has that
kind of childhood, but you know,

943
00:49:57,000 --> 00:49:59,520
the childhood where you where
you were let loose.

944
00:50:00,040 --> 00:50:04,040
And this is this is what what
when you look at the US, you

945
00:50:04,040 --> 00:50:06,640
look at they're talking about we
want to go back to the history

946
00:50:06,640 --> 00:50:09,320
when, you know, I could go play
kick the can of my parents.

947
00:50:09,560 --> 00:50:12,280
They they watch me leave in the
morning and I came back in the

948
00:50:12,280 --> 00:50:13,760
end.
This is that's what Mongolia is

949
00:50:13,760 --> 00:50:17,440
today.
You know, those kids leave and

950
00:50:17,440 --> 00:50:19,040
then they come back at the end
of the day.

951
00:50:20,160 --> 00:50:23,320
Exactly.
That's what people want here.

952
00:50:23,320 --> 00:50:28,440
They they say they want it.
They do, yet they all have.

953
00:50:28,440 --> 00:50:29,960
Trackers on their phones for the
kids.

954
00:50:30,080 --> 00:50:32,680
Well, I think a lot of Americans
want a life before

955
00:50:32,680 --> 00:50:36,240
responsibility.
I mean, before you grew up and

956
00:50:36,240 --> 00:50:40,280
you kind of had to pay rent and
you had to pay all these kind of

957
00:50:40,560 --> 00:50:44,360
things just for your mirror
existence to happen.

958
00:50:44,800 --> 00:50:46,960
And I think a lot of people want
to live a life without

959
00:50:46,960 --> 00:50:51,160
responsibility, which is a lot
more comfortable in my in my

960
00:50:51,160 --> 00:50:54,600
understanding than than living a
life of having to constantly pay

961
00:50:54,600 --> 00:50:57,120
for your own existence.
And I think that that is truly

962
00:50:57,120 --> 00:50:58,680
something that we want.
We want.

963
00:50:58,680 --> 00:51:01,320
Yeah.
Other questions and business

964
00:51:02,000 --> 00:51:05,520
where are you in life?
Do you have a family?

965
00:51:05,600 --> 00:51:07,480
How old are you?
I mean, these are the questions

966
00:51:07,480 --> 00:51:10,280
that I ask I'm I, I actually
advise a lot of little

967
00:51:10,280 --> 00:51:14,080
businesses.
I advise somebody 55 that wanted

968
00:51:14,080 --> 00:51:17,480
to start a business and and I
asked him how much money he had

969
00:51:17,840 --> 00:51:19,920
saving.
I said, how many kids you got?

970
00:51:19,920 --> 00:51:21,040
Where are they at and they in
school?

971
00:51:21,480 --> 00:51:23,640
And he's like, what the hell
does this have to do?

972
00:51:23,640 --> 00:51:28,440
And I'm like, because when it
gets tight, what are you going

973
00:51:28,440 --> 00:51:30,840
to do?
You know what does?

974
00:51:30,840 --> 00:51:33,400
Your safety net look like.
What does your safety net?

975
00:51:33,400 --> 00:51:35,280
What do your?
Responsibilities look like you

976
00:51:35,280 --> 00:51:36,480
know when your.
Safety net goes away.

977
00:51:36,480 --> 00:51:40,320
What are you going to do?
Because I, I know people that

978
00:51:40,320 --> 00:51:43,840
have gone right through the
safety net, have gone through

979
00:51:44,200 --> 00:51:48,640
and have sold their house, have
lost their family, and still

980
00:51:48,640 --> 00:51:51,560
chase the idea to this day.
And it's a loser.

981
00:51:51,840 --> 00:51:56,680
And you cannot tell them that it
barely is a subsistence

982
00:51:56,760 --> 00:51:59,160
business.
And you see this over and over

983
00:51:59,160 --> 00:52:02,200
and over because there are
people out there that are

984
00:52:02,200 --> 00:52:07,160
unwilling to give up because no,
don't give up.

985
00:52:07,160 --> 00:52:10,600
And it's like, give it up is not
always a bad idea.

986
00:52:10,600 --> 00:52:14,080
If the idea you came up with
originally is shitty and it's

987
00:52:14,080 --> 00:52:15,840
not, and it's not going to make
money, it's not going to be

988
00:52:15,840 --> 00:52:17,680
successful and it's not going to
keep your family together.

989
00:52:17,680 --> 00:52:19,200
And it's not.
And if you don't have a family,

990
00:52:19,200 --> 00:52:20,960
I mean, that's the cool thing
about you.

991
00:52:21,280 --> 00:52:23,920
If the worst thing that happens
to you is everything you've

992
00:52:23,920 --> 00:52:28,200
touched in the last eight years
completely drops in the crapper,

993
00:52:31,240 --> 00:52:32,560
you're still going to make your
rent.

994
00:52:33,280 --> 00:52:34,840
You're still going to make your
car payment.

995
00:52:35,000 --> 00:52:36,200
No, you don't have a car
payment.

996
00:52:36,360 --> 00:52:37,840
You're still going to have your
insurance.

997
00:52:37,920 --> 00:52:40,720
You're still going to have all
the three or four basic things.

998
00:52:40,960 --> 00:52:43,360
You don't have to worry about it
making sure your kids going to

999
00:52:43,360 --> 00:52:44,880
be fed.
You don't have all these things.

1000
00:52:45,080 --> 00:52:48,120
If you're doing that, you have
to, you have to calculate that.

1001
00:52:48,120 --> 00:52:50,640
You have to move that in.
Because when we started

1002
00:52:50,640 --> 00:52:54,000
businesses, part of people's
personal lives came in.

1003
00:52:54,000 --> 00:52:57,680
It's like my wife wants to buy a
house, OK, We have to figure out

1004
00:52:57,680 --> 00:53:00,400
how we're going to finance that.
You know, we're going to finance

1005
00:53:00,400 --> 00:53:01,640
that with the business
dividends.

1006
00:53:01,640 --> 00:53:03,480
How are we going to do that?
Can we afford that?

1007
00:53:03,480 --> 00:53:06,840
Can we give you 50 or 102
hundred 300,000, whatever it is?

1008
00:53:07,640 --> 00:53:09,880
That was something that I
thought about when I started

1009
00:53:09,880 --> 00:53:12,520
out.
And I think a lot of people my

1010
00:53:12,520 --> 00:53:17,320
age from where I came from know
that they have a safety net, but

1011
00:53:17,320 --> 00:53:20,400
there's so many options in the
world that they say, well, what

1012
00:53:20,400 --> 00:53:23,320
should I do or what should I do?
And it could be deafening all of

1013
00:53:23,320 --> 00:53:25,720
the options.
But I realized that no matter

1014
00:53:25,720 --> 00:53:29,000
what I mean, like if this
project fails, if the company

1015
00:53:29,000 --> 00:53:32,920
fails, it's something one, that
I really wanted to do and then

1016
00:53:32,920 --> 00:53:35,880
two, I could always move back in
with my parents, no matter how

1017
00:53:35,880 --> 00:53:40,440
much they would have, you know,
because I think that at this

1018
00:53:40,440 --> 00:53:41,840
point, you.
Get tense like what I front

1019
00:53:42,000 --> 00:53:42,560
yard.
What?

1020
00:53:42,560 --> 00:53:47,120
I would have rather never
pursued it and wondered what

1021
00:53:47,120 --> 00:53:51,320
that would have looked like?
Or would I rather have regretted

1022
00:53:51,320 --> 00:53:56,720
it and just failed, you know,
and maybe not really regretted

1023
00:53:56,720 --> 00:53:58,840
it, but I had all these
experiences in the process.

1024
00:53:58,840 --> 00:53:59,680
Not regretted it.
Sorry.

1025
00:53:59,680 --> 00:54:02,600
I don't regret anything that I
did with this, this Mongolian

1026
00:54:02,600 --> 00:54:05,320
project at all.
But yeah, no, all these

1027
00:54:05,320 --> 00:54:08,480
experiences that really are
learned behavior for the next

1028
00:54:08,480 --> 00:54:11,440
kind of process or way you go
about life.

1029
00:54:12,080 --> 00:54:17,720
You get a trolley, you know, and
I can't imagine being my age,

1030
00:54:17,720 --> 00:54:21,120
66.
And I mean, I had lots of

1031
00:54:21,240 --> 00:54:24,040
different paths that I could
have taken and I could have

1032
00:54:24,040 --> 00:54:29,320
stayed and made $30,000 a year
when I decided to make nothing.

1033
00:54:30,320 --> 00:54:34,480
And I could have made 40 when I
was making 15 or 20.

1034
00:54:35,360 --> 00:54:40,200
I could have made 60 when I was
making 2025.

1035
00:54:41,200 --> 00:54:45,920
You know, I mean, financially it
was something but I had, I had

1036
00:54:46,440 --> 00:54:52,760
250 rent, 250 car payment, $100
insurance and that was it.

1037
00:54:53,080 --> 00:54:56,440
And I had nothing else and it
was oh, alcohol bill $600.00

1038
00:54:56,920 --> 00:55:03,520
and. 2 grand, 2 grand and two
grand in 1970. 3 So it was like,

1039
00:55:03,880 --> 00:55:06,640
it's like you, you, you look at
the risk that you take.

1040
00:55:06,680 --> 00:55:10,800
And I would say that, that I
mean, the thing I would say tell

1041
00:55:10,800 --> 00:55:15,800
people at your age and younger
and up until probably, I mean,

1042
00:55:15,800 --> 00:55:18,960
now, now we live old as shit up
until you're 30.

1043
00:55:19,480 --> 00:55:22,840
You should, you should go balls
to the wall or vagina to the

1044
00:55:22,840 --> 00:55:27,520
wall, whatever the hell it is
and just, and just shoot, go,

1045
00:55:28,080 --> 00:55:31,080
you know, if you want to pop out
a kid, pop out a kid.

1046
00:55:31,080 --> 00:55:36,200
But realize that that is a
responsibility, you know, and

1047
00:55:36,200 --> 00:55:39,120
that was the whole thing with me
is, is like, I saw my, when I

1048
00:55:39,120 --> 00:55:42,600
started my third company, I
started with people that had

1049
00:55:42,600 --> 00:55:49,640
families and I, I was very like,
what are you going to do?

1050
00:55:49,680 --> 00:55:50,600
How are you going to support
them?

1051
00:55:50,680 --> 00:55:52,880
What's going to happen?
How long is this going to last?

1052
00:55:53,200 --> 00:55:57,040
How long can you go without any
money, you know?

1053
00:55:57,320 --> 00:55:59,640
How much of A nest egg do you
have that you're willing to get

1054
00:55:59,640 --> 00:56:00,160
rid of?
Right.

1055
00:56:00,560 --> 00:56:02,600
And you're, you're going to run
it down to zero and you're going

1056
00:56:02,600 --> 00:56:05,520
to be OK with that because,
because The thing is, is if

1057
00:56:05,520 --> 00:56:10,440
you're, I've been lucky, because
I've been a, a, a fixed to

1058
00:56:10,440 --> 00:56:15,200
probably 4 out of five winners,
which is incredibly rare.

1059
00:56:15,640 --> 00:56:18,840
That's crazy.
You know, so for me, people

1060
00:56:18,840 --> 00:56:20,800
think like, oh, wow, we're just
going to start a business new

1061
00:56:20,800 --> 00:56:24,480
grant Phil, you did it before.
And it's like, no, no, I start

1062
00:56:24,520 --> 00:56:29,280
every new business with the idea
that how much money am I going

1063
00:56:29,280 --> 00:56:31,080
to throw into the toilet and
flush?

1064
00:56:32,320 --> 00:56:35,080
And how much effort and grief is
it going to cause me?

1065
00:56:35,520 --> 00:56:37,960
And how many people are going to
hate me when it, at the end of

1066
00:56:37,960 --> 00:56:42,000
it, when, when, when it failed?
And what's the process going to

1067
00:56:42,000 --> 00:56:44,200
be?
And that's, that's the low.

1068
00:56:44,320 --> 00:56:47,640
Because if I can deal with the
low, you know, if you're going

1069
00:56:47,640 --> 00:56:52,280
to give me rain cash on me all
day and all that, I, I, I feel

1070
00:56:52,280 --> 00:56:56,880
like I can deal with having
bigger money boats.

1071
00:56:57,240 --> 00:56:58,920
OK.
I don't think that's going to be

1072
00:56:58,920 --> 00:57:03,640
a problem.
I think that not having and not

1073
00:57:03,640 --> 00:57:06,360
being able to take care of
people, that's why it's through

1074
00:57:06,360 --> 00:57:09,240
my career when I move from one
company to the next, I've had

1075
00:57:09,240 --> 00:57:12,160
people that want to come to work
with us and I wouldn't hire them

1076
00:57:12,160 --> 00:57:15,920
because the risk at the next
business I was at was really,

1077
00:57:15,920 --> 00:57:18,000
really high.
And they had stable jobs And

1078
00:57:18,000 --> 00:57:19,240
they're like, no, no, this is
better.

1079
00:57:19,240 --> 00:57:22,000
You're much better worker.
And I'm like, no, no, this, this

1080
00:57:22,000 --> 00:57:24,240
is going to, this may not fail.
This may fail.

1081
00:57:24,560 --> 00:57:27,360
The boss here is a total prick.
They're going to hate you.

1082
00:57:27,440 --> 00:57:30,800
And then, and that was the, that
was always my thing about

1083
00:57:30,800 --> 00:57:32,600
whether or not somebody would
come because they would always

1084
00:57:32,600 --> 00:57:35,920
ask me, should I do it?
And I was just like, I, I can't

1085
00:57:36,000 --> 00:57:38,000
answer that.
You have to answer that

1086
00:57:38,000 --> 00:57:40,520
question.
Within yourself, it's a really.

1087
00:57:40,520 --> 00:57:44,160
Hard personal question to say
that what kind of risk can you

1088
00:57:44,160 --> 00:57:48,760
as a person take?
See me, I have had, I was

1089
00:57:48,800 --> 00:57:57,840
endless endlessly risking until
I was 29, just crazy.

1090
00:57:57,840 --> 00:58:02,400
Just, you know, I had
girlfriends in different States

1091
00:58:02,400 --> 00:58:08,200
and flew and did stuff like that
and just like, you know, throw

1092
00:58:08,200 --> 00:58:11,000
it up in the throw the dice up
in the air and let them land and

1093
00:58:11,280 --> 00:58:13,400
go.
And then, you know, then I was

1094
00:58:13,400 --> 00:58:17,920
married and I was like, OK, now
I have a different, this is a

1095
00:58:17,920 --> 00:58:20,280
different thing.
I have to, I have to be

1096
00:58:20,280 --> 00:58:23,120
responsible.
And then you came along 10 years

1097
00:58:23,120 --> 00:58:24,720
later, where the fuck did you
come from?

1098
00:58:25,320 --> 00:58:27,800
And then, and then that, that
was another thing.

1099
00:58:27,800 --> 00:58:31,720
And it's like, OK, I need this.
And that's, you know, one of the

1100
00:58:31,720 --> 00:58:34,440
reasons the story we talked
about when I retired at 05:00

1101
00:58:34,440 --> 00:58:37,280
when when you were five years
old, it's because.

1102
00:58:37,280 --> 00:58:38,640
Exactly because it was about
you.

1103
00:58:39,520 --> 00:58:41,800
But it wasn't about you, it was
about me, because I asked all my

1104
00:58:41,800 --> 00:58:43,520
friends and they all said if
they could all do it over again,

1105
00:58:43,520 --> 00:58:45,400
what would they do?
They would spend more time with

1106
00:58:45,400 --> 00:58:48,560
their kid.
And it's like if I was 40 years.

1107
00:58:48,560 --> 00:58:50,840
Brothers of them.
Yeah, no.

1108
00:58:50,840 --> 00:58:53,920
And every single one of his
friends said the same thing.

1109
00:58:54,000 --> 00:58:56,240
And you're like, and they're all
making tons of money.

1110
00:58:56,440 --> 00:58:58,680
And it's like one of the things
that they said is if I could do

1111
00:58:58,680 --> 00:59:01,160
it all over, I would spend, I
would take less promotions.

1112
00:59:01,160 --> 00:59:03,760
And I'm going like, would you?
Because they're they're all

1113
00:59:03,760 --> 00:59:06,280
driven animals.
And they have that mentality

1114
00:59:06,280 --> 00:59:09,080
that I have where you're like,
yeah, but tomorrow is the day to

1115
00:59:09,080 --> 00:59:11,120
be better than today.
And that kind of heavy horseshit

1116
00:59:11,120 --> 00:59:13,440
that, you know, you sell
yourself over time, but you

1117
00:59:13,440 --> 00:59:17,000
forget that, you know, that's
that's a path.

1118
00:59:18,240 --> 00:59:19,960
It's a journey.
It's not, there's not a

1119
00:59:19,960 --> 00:59:22,600
destination where you get, you
know, someone just gives you a

1120
00:59:22,600 --> 00:59:25,720
lottery ticket and they pay a
billion dollars and you go away.

1121
00:59:26,080 --> 00:59:29,080
It's it's a path.
And on that path, you have to

1122
00:59:29,080 --> 00:59:35,760
remember that you have kids and
wives and and concubines and

1123
00:59:35,760 --> 00:59:40,400
girlfriends and elephants and
dogs and cats and all these

1124
00:59:40,400 --> 00:59:43,440
things that affect your life,
and you want that.

1125
00:59:43,880 --> 00:59:46,280
You know, it's important to
measure that before you start

1126
00:59:46,280 --> 00:59:48,160
any major thing that you're
willing to drain.

1127
00:59:48,240 --> 00:59:50,560
Wear assets over for sure.
Exactly.

1128
00:59:51,080 --> 00:59:52,480
Exactly that is.
Incredible.

1129
00:59:52,480 --> 00:59:55,240
Know the risk.
Which is why why I've never

1130
00:59:55,240 --> 00:59:58,000
cared.
I think that taking the risk at

1131
00:59:58,000 --> 01:00:01,440
this point too is something that
I was like, well, I always have

1132
01:00:01,440 --> 01:00:03,480
a safety net and I'm lucky
enough to say that.

1133
01:00:03,480 --> 01:00:05,880
And I.
Will say it very punctually that

1134
01:00:05,880 --> 01:00:09,640
I'm lucky and I have always said
that I'm very lucky from where I

1135
01:00:09,640 --> 01:00:11,760
came from.
And I'm lucky that you told me

1136
01:00:11,760 --> 01:00:14,800
from a very young age that you
could be whatever you want to

1137
01:00:14,800 --> 01:00:16,080
be.
And I don't think I really

1138
01:00:16,080 --> 01:00:19,960
understood that until I was 24
years old that I could really

1139
01:00:20,080 --> 01:00:23,920
accomplish or go out and try at
least to accomplish anything

1140
01:00:23,920 --> 01:00:25,920
that I, that's it to be in my
life.

1141
01:00:26,000 --> 01:00:29,320
And it took me until 24 years
old, 2324 probably.

1142
01:00:30,160 --> 01:00:33,880
What do you think about like, I
mean, I, when we started the

1143
01:00:33,880 --> 01:00:38,360
business, I was working one day
and 1-2 nights a week at

1144
01:00:38,360 --> 01:00:41,600
Garrett's as a doorman and I was
making 50 bucks cash each.

1145
01:00:41,600 --> 01:00:44,600
So it's, I was making 100 bucks
a week, 400 a month.

1146
01:00:44,880 --> 01:00:49,000
That covered my rent and just
about my car payment.

1147
01:00:49,440 --> 01:00:52,600
So I just about had everything
and, but I also had, still had

1148
01:00:52,600 --> 01:00:55,360
the savings.
So, and I figured, and this is

1149
01:00:55,360 --> 01:00:56,120
the way I've always looked at
it.

1150
01:00:56,120 --> 01:00:58,160
I said, well, if I get fired, I
can always go work construction.

1151
01:00:59,240 --> 01:01:01,200
Up until I was like 50, I
thought, I always thought I

1152
01:01:01,200 --> 01:01:04,440
could, I could go make 15 bucks
an hour and I could do this.

1153
01:01:04,440 --> 01:01:05,960
I could pay all my bills and
that would be that.

1154
01:01:05,960 --> 01:01:08,480
And we'd just be a little poor
and we wouldn't, we wouldn't

1155
01:01:08,480 --> 01:01:11,440
travel internationally and we
would never fly, would never

1156
01:01:11,440 --> 01:01:15,360
fly.
We wouldn't buy new cars every

1157
01:01:15,360 --> 01:01:17,480
20 years.
We'd buy them every 30 years,

1158
01:01:17,720 --> 01:01:20,120
you know, and but that was
always my mentality.

1159
01:01:20,120 --> 01:01:23,560
It's always like, what if, if,
if this, if I lose everything,

1160
01:01:23,560 --> 01:01:24,680
where where do I go?
What do I do?

1161
01:01:25,240 --> 01:01:27,480
And it's like, you would go back
into research?

1162
01:01:27,720 --> 01:01:29,000
I'm like, yeah, I guess they
would.

1163
01:01:29,000 --> 01:01:30,720
Pay me.
Yeah, that makes more sense if

1164
01:01:30,720 --> 01:01:32,720
you've.
Developed skills so I'd go to

1165
01:01:32,720 --> 01:01:34,560
work 7.
I always thought 711.

1166
01:01:34,560 --> 01:01:36,520
I could do 100 hours a week
there, be easy.

1167
01:01:36,520 --> 01:01:38,880
For not use the previous skills
in relationships that you

1168
01:01:38,880 --> 01:01:40,800
developed for 20 years, So you
would start to do that?

1169
01:01:42,720 --> 01:01:44,520
No, I think that's.
Yeah, that's funny.

1170
01:01:44,720 --> 01:01:46,240
But what do we have for time
here I feel like.

1171
01:01:46,240 --> 01:01:47,960
We're Oh my God, we're, we're in
an hour.

1172
01:01:48,120 --> 01:01:50,960
We're in an hour.
Well, as always, thank you guys

1173
01:01:50,960 --> 01:01:53,520
for listening and go check out
the shorts.

1174
01:01:53,520 --> 01:01:56,640
We're pretty active on social
media now for for the first time

1175
01:01:56,640 --> 01:01:59,040
in I don't know how long.
It's been three years that we've

1176
01:01:59,040 --> 01:02:01,200
been doing.
Who's the Who's the key person

1177
01:02:01,200 --> 01:02:02,200
on social media?
The woman.

1178
01:02:02,520 --> 01:02:03,640
Tiffany.
Tiffany.

1179
01:02:03,640 --> 01:02:06,760
Tiffany shout out to.
Tiffany, shout out to Tiffany.

1180
01:02:06,840 --> 01:02:11,400
You have been fantastic and we
look forward to a long and

1181
01:02:11,520 --> 01:02:13,120
amazing relationship with your
company.

1182
01:02:13,960 --> 01:02:15,240
All right, we'll talk to you
later.