Author: My First Million

  • One Chart Businesses Guaranteed To Make +$1M From Day 1

    Episode 574: Sam Parr ( https://twitter.com/theSamParr ) and Shaan Puri ( https://twitter.com/ShaanVP ) talk to Jeremy Giffon about what businesses he would buy if he was starting Tiny TODAY and a bunch of opportunities that he sees people sleeping on. 

    Want to see Sam and Shaan’s smiling faces? Head to the MFM YouTube Channel and subscribe – http://tinyurl.com/5n7ftsy5

    Show Notes:

    (0:00) Intro

    (1:23) Idea: Build businesses for people with audiences

    (5:48) Idea: Wirecutter for products that won’t kill you

    (10:30) One chart business category: Regulation

    (14:55) Opportunity: Become a protege

    (19:19) Philosophy students > Business students

    (22:00) The myth the holdco

    (26:14) The pre- and post- fall

    (28:17) Idea: “Special situations” I.e. Distressed Venture

    (32:15) Working hard vs working winning while lazy

    (40:19) Hanging around the hoop

    (42:30) The most successful people respond immediately

    (43:55) Be Dennis the Menace

    (45:15) MrBeast shouldn’t be selling chocolate

    (47:53) Billionaire is a state of mind

    (51:05) Silicon Valley guys envy hedge fund guys

    Links:

    • Jeremy Giffon’s Twitter – https://twitter.com/jeremygiffon

    • Live Oasis – https://www.live-oasis.com/

    • Afina – http://afina.com/

    Check Out Sam’s Stuff:

    • Hampton – https://www.joinhampton.com/

    • Ideation Bootcamp – https://www.ideationbootcamp.co/

    • Copy That – https://copythat.com

    • Hampton Wealth Survey – https://joinhampton.com/wealth

    Check Out Shaan’s Stuff:

    Need to hire? You should use the same service Shaan uses to hire developers, designers, & Virtual Assistants → it’s called Shepherd (tell ‘em Shaan sent you): https://bit.ly/SupportShepherd

    My First Million is a HubSpot Original Podcast // Brought to you by The HubSpot Podcast Network // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano

    Past guests on My First Million include Rob Dyrdek, Hasan Minhaj, Balaji Srinivasan, Jake Paul, Dr. Andrew Huberman, Gary Vee, Lance Armstrong, Sophia Amoruso, Ariel Helwani, Ramit Sethi, Stanley Druckenmiller, Peter Diamandis, Dharmesh Shah, Brian Halligan, Marc Lore, Jason Calacanis, Andrew Wilkinson, Julian Shapiro, Kat Cole, Codie Sanchez, Nader Al-Naji, Steph Smith, Trung Phan, Nick Huber, Anthony Pompliano, Ben Askren, Ramon Van Meer, Brianne Kimmel, Andrew Gazdecki, Scott Belsky, Moiz Ali, Dan Held, Elaine Zelby, Michael Saylor, Ryan Begelman, Jack Butcher, Reed Duchscher, Tai Lopez, Harley Finkelstein, Alexa von Tobel, Noah Kagan, Nick Bare, Greg Isenberg, James Altucher, Randy Hetrick and more.

    Other episodes you might enjoy:

    #224 Rob Dyrdek – How Tracking Every Second of His Life Took Rob Drydek from 0 to $405M in Exits

    #209 Gary Vaynerchuk – Why NFTS Are the Future

    #178 Balaji Srinivasan – Balaji on How to Fix the Media, Cloud Cities & Crypto

    #169 – How One Man Started 5, Billion Dollar Companies, Dan Gilbert’s Empire, & Talking With Warren Buffett

    • ​​​​#218 – Why You Should Take a Think Week Like Bill Gates

    Dave Portnoy vs The World, Extreme Body Monitoring, The Future of Apparel Retail, “How Much is Anthony Pompliano Worth?”, and More

    How Mr Beast Got 100M Views in Less Than 4 Days, The $25M Chrome Extension, and More

  • We Turned $5M Into $419M Buying Cashflow Businesses ft. Jeremy Giffon

    Episode 573: Sam Parr ( https://twitter.com/theSamParr ) and Shaan Puri ( https://twitter.com/ShaanVP ) talk to Jeremy Giffon about how Tiny Capital turned $5M in equity into 30 profitable companies. 

    Want to see Sam and Shaan’s smiling faces? Head to the MFM YouTube Channel and subscribe – http://tinyurl.com/5n7ftsy5

    Show Notes:

    (0:00) Humble beginnings at Tiny Capital

    (4:40) Tiny’s first acquisition

    (8:17) 50X return on Dribbble

    (10:14) Skip the cash flow statements

    (11:57) How to spot the opportunity

    (14:00) Chris’s superpower

    (16:20) Stomaching aggressively low offers

    (17:46) Make an offer and stop talking

    (19:36) It’s not you vs. them

    (22:06) “What would need to be true to make this deal?”

    (23:03) How to crush the cold email

    (25:15) Worst deal — ignored red flags, lost everything

    (27:00) Best deal: Mealime (25X return)

    (29:16) Weirdest deal ($36.00 acquisition)

    Links:

    • Tiny Capital – https://www.tiny.com/

    • Dribbble – https://dribbble.com/

    • Metalab – https://www.metalab.com/

    • Mealime – https://www.mealime.com/

    Check Out Sam’s Stuff:

    • Hampton – https://www.joinhampton.com/

    • Ideation Bootcamp – https://www.ideationbootcamp.co/

    • Copy That – https://copythat.com

    • Hampton Wealth Survey – https://joinhampton.com/wealth

    Check Out Shaan’s Stuff:

    Need to hire? You should use the same service Shaan uses to hire developers, designers, & Virtual Assistants → it’s called Shepherd (tell ‘em Shaan sent you): https://bit.ly/SupportShepherd

    My First Million is a HubSpot Original Podcast // Brought to you by The HubSpot Podcast Network // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano

    Past guests on My First Million include Rob Dyrdek, Hasan Minhaj, Balaji Srinivasan, Jake Paul, Dr. Andrew Huberman, Gary Vee, Lance Armstrong, Sophia Amoruso, Ariel Helwani, Ramit Sethi, Stanley Druckenmiller, Peter Diamandis, Dharmesh Shah, Brian Halligan, Marc Lore, Jason Calacanis, Andrew Wilkinson, Julian Shapiro, Kat Cole, Codie Sanchez, Nader Al-Naji, Steph Smith, Trung Phan, Nick Huber, Anthony Pompliano, Ben Askren, Ramon Van Meer, Brianne Kimmel, Andrew Gazdecki, Scott Belsky, Moiz Ali, Dan Held, Elaine Zelby, Michael Saylor, Ryan Begelman, Jack Butcher, Reed Duchscher, Tai Lopez, Harley Finkelstein, Alexa von Tobel, Noah Kagan, Nick Bare, Greg Isenberg, James Altucher, Randy Hetrick and more.

    Other episodes you might enjoy:

    #224 Rob Dyrdek – How Tracking Every Second of His Life Took Rob Drydek from 0 to $405M in Exits

    #209 Gary Vaynerchuk – Why NFTS Are the Future

    #178 Balaji Srinivasan – Balaji on How to Fix the Media, Cloud Cities & Crypto

    #169 – How One Man Started 5, Billion Dollar Companies, Dan Gilbert’s Empire, & Talking With Warren Buffett

    • ​​​​#218 – Why You Should Take a Think Week Like Bill Gates

    Dave Portnoy vs The World, Extreme Body Monitoring, The Future of Apparel Retail, “How Much is Anthony Pompliano Worth?”, and More

    How Mr Beast Got 100M Views in Less Than 4 Days, The $25M Chrome Extension, and More

  • I Spent 7 Days With The Richest Men In Texas | 10 Things I Learned

    Episode 572: Sam Parr ( https://twitter.com/theSamParr ) and Shaan Puri ( https://twitter.com/ShaanVP ) talk about the 10 revelations learned from spending a week with Texas billionaires. 

    Want to see Sam and Shaan’s smiling faces? Head to the MFM YouTube Channel and subscribe – http://tinyurl.com/5n7ftsy5

    Show Notes:

    (0:00) Tim Ferriss asks Shaan a hard question (panic ensues)

    (2:46) The Indian Warren Buffett

    (7:25) “Investing is not a team sport”

    (8:31) Mohnish Pabrai’s Nap Room

    (10:28) Required reading list of a billionaire

    (11:47) He built 5 billion-dollar companies by 41

    (15:39) 5 Revelations from a day with Joe Lonsdale

    (19:50) The final level of the money game: private chefs, full size basketball court, etc

    (20:52) Nick Gray, cocktail party legend

    (23:45) Hanging out with smarter people

    (27:17) Nerd sports that make the best entrepreneurs

    (31:17) Pay attention to what other people pay attention to

    (33:47) Ben Levy’s superpower as a superconnector

    Links:

    • The Dhando Investor – https://tinyurl.com/53p9bhfv

    • PeachyBbies – https://peachybbies.com/

    Check Out Shaan’s Stuff:

    Need to hire? You should use the same service Shaan uses to hire developers, designers, & Virtual Assistants → it’s called Shepherd (tell ‘em Shaan sent you): https://bit.ly/SupportShepherd

    Check Out Sam’s Stuff:

    • Hampton – https://www.joinhampton.com/

    • Ideation Bootcamp – https://www.ideationbootcamp.co/

    • Copy That – https://copythat.com

    • Hampton Wealth Survey – https://joinhampton.com/wealth

    My First Million is a HubSpot Original Podcast // Brought to you by The HubSpot Podcast Network // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano

    Past guests on My First Million include Rob Dyrdek, Hasan Minhaj, Balaji Srinivasan, Jake Paul, Dr. Andrew Huberman, Gary Vee, Lance Armstrong, Sophia Amoruso, Ariel Helwani, Ramit Sethi, Stanley Druckenmiller, Peter Diamandis, Dharmesh Shah, Brian Halligan, Marc Lore, Jason Calacanis, Andrew Wilkinson, Julian Shapiro, Kat Cole, Codie Sanchez, Nader Al-Naji, Steph Smith, Trung Phan, Nick Huber, Anthony Pompliano, Ben Askren, Ramon Van Meer, Brianne Kimmel, Andrew Gazdecki, Scott Belsky, Moiz Ali, Dan Held, Elaine Zelby, Michael Saylor, Ryan Begelman, Jack Butcher, Reed Duchscher, Tai Lopez, Harley Finkelstein, Alexa von Tobel, Noah Kagan, Nick Bare, Greg Isenberg, James Altucher, Randy Hetrick and more.

    Other episodes you might enjoy:

    #224 Rob Dyrdek – How Tracking Every Second of His Life Took Rob Drydek from 0 to $405M in Exits

    #209 Gary Vaynerchuk – Why NFTS Are the Future

    #178 Balaji Srinivasan – Balaji on How to Fix the Media, Cloud Cities & Crypto

    #169 – How One Man Started 5, Billion Dollar Companies, Dan Gilbert’s Empire, & Talking With Warren Buffett

    • ​​​​#218 – Why You Should Take a Think Week Like Bill Gates

    Dave Portnoy vs The World, Extreme Body Monitoring, The Future of Apparel Retail, “How Much is Anthony Pompliano Worth?”, and More

    How Mr Beast Got 100M Views in Less Than 4 Days, The $25M Chrome Extension, and More

  • How I Reverse Engineered A $100 Million Exit – Jason Lemkin

    AI transcript
    0:00:05 Art everybody election day in the United States is just a few days away and I’m here to officially endorse
    0:00:12 Nobody because you should not be trying to get political advice from a podcaster that you like
    0:00:16 I’m just a guy who does business and I’ve made a little bit of money on the internet
    0:00:19 That does not make me an expert in politics. However today’s episode
    0:00:21 Is about politics, but not in the way you might expect
    0:00:28 I am fascinated by the marketing machine that is underneath political campaigns regardless of which candidate you’re going for
    0:00:34 They’re spending over a billion dollars trying to persuade people to do a thing. That’s how business works, too
    0:00:38 There’s marketing machine trying to convince people to push a button at the end of the day
    0:00:42 and I wanted to understand the science the tactics and the
    0:00:48 Persuasion techniques that the different campaigns have used over the years the best stories about what’s actually going on under the hood
    0:00:51 And so I invited on a guy named Sasha Eisenberg
    0:00:56 He studied this for a couple of decades now and he wrote a book that I thought was really good called the victory lab
    0:00:59 So I invited him on to come tell us some stories about how
    0:01:05 The marketing machines underneath political campaigns work. I think it’s fascinating. Enjoy this episode
    0:01:16 And it seems like there’s this thing where
    0:01:21 This whole industry that gets paid to help politicians get elected
    0:01:24 I think it’s something like six billion dollars a year goes to
    0:01:30 This group of people whose job is to be, you know, marketing machines for for political purposes
    0:01:33 And when something works
    0:01:39 They look, you know, the incentive is to go tell the world how genius you are and how it was your tactic
    0:01:41 That was the thing that worked and when it doesn’t work. It’s like
    0:01:48 Politician had no charisma. Nothing we could do there, right? They need to deflect in order for to survive
    0:01:51 When you were writing your book, which is called the victory lab. Did you
    0:01:58 I guess like, how did you get around that bias? Like, how could you figure out how open were these people and sharing what’s actually working?
    0:01:59 Not and
    0:02:05 Did you have to kind of like read between the lines to try to figure out where they just sort of grabbing extra credit versus what actually happened?
    0:02:08 Yeah, it’s one of the most
    0:02:11 difficult things reporting in this area. So, you know, I I
    0:02:17 Was fortunate that I reported this book between election cycles if you go in right now and you ask
    0:02:23 The harris campaign or the trump campaign or the super PACs working for them, you know
    0:02:28 Show me exactly how you’re you’re testing your ads on online platforms. They are
    0:02:31 That maybe they will tell you some stuff
    0:02:36 They very selectly will leak out stuff and they think it’ll help them raise money usually
    0:02:43 So you’ll read a story in wired one story in wired. It’s like inside Kamala Harris’s ad testing machine
    0:02:49 And details are very carefully selected over the course of you know, during the campaign to give out to one piece
    0:02:52 That then they can send out when they go out when she does to do a fundraising tour
    0:02:59 You know in Palo Alto that can convince, you know, a bunch of of tech executives that that she’s running a smart campaign
    0:03:04 So during a campaign though, it’s very difficult to get real details on what they’re doing
    0:03:10 They don’t want to the value of impressing their donors is up against not wanting to you know
    0:03:13 Give away any anything to the competition
    0:03:23 All right, let’s take a quick break to talk about our sponsor today HubSpot with smaller budgets and sky high expectations
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    0:03:49 And reimagine marketing and content hubs to attract and convert more leads and send your revenue soaring visit hubspot.com/spotlight to learn more
    0:03:54 Right after election day
    0:04:00 The campaign basically ceases to exist. So everybody is on to another job a lot of them are
    0:04:05 You know looking for work or return to their consulting firms or starting new firms
    0:04:12 Develop some trick or tool during the campaign. Is it isn’t there like some conference where they all go to like some uh
    0:04:15 Some beach resort area where they go and they all get drunk and start talking
    0:04:22 Yeah, I mean so there’s like a post-election sort of conference circuit where democrats or republicans come together to um
    0:04:26 To kind of trade notes, but they they need to launch a business
    0:04:31 I mean, it’s basically like every two years. There’s like a new sort of window for startups and and especially every four years and so
    0:04:34 There’s a window where they go from
    0:04:42 Being afraid that they will get fired if they talk to a reporter because if you are caught leaking even the most minor thing inside a
    0:04:45 campaign that is you know
    0:04:49 Fireable immediately fireable expense because they don’t want anybody but the spokesman or the candidate talking to them
    0:04:51 And then two days later
    0:04:55 They are trying to figure out what they’re going to do with the rest of everybody in the campaign is and so
    0:05:00 They’re starting to take credit for everything they did. So, you know, I remember in 2012
    0:05:07 You had this, um, the obama analytics department, which is really pioneering out that they had like 52 54 people in this
    0:05:09 analytics program, which at the time was huge
    0:05:16 They called it the cave and these guys, you know, I I was reporting throughout the year for slate at that point and and
    0:05:20 Was able to eke out bits of of news over the course of the campaign through
    0:05:26 Really judicious reporting and I would hear stories about the campaign manager summoning
    0:05:30 people on the analytics department into his office to say did you talk to sasha because
    0:05:35 You know, there was some inquest the final like it was pretty sad and then the day after
    0:05:38 You know a whole bunch of them basically we’re getting Eric Schmidt to
    0:05:42 Launch a phone
    0:05:47 For them and we’re out giving interviews to everybody who wanted and taking credit for a whole bunch of things
    0:05:53 That probably were not theirs alone to take credit for and and and the issue with that campaign is it has a binary outcome
    0:05:55 right one candidate wins and the other one loses
    0:06:03 And no one thing ever shapes that outcome not traditional things like you know what whatever happens on tuesday
    0:06:08 It did not happen because one of the candidates chose the right vice presidential nominee or not
    0:06:11 It did not happen just because of the just because
    0:06:14 You know harris had a better debate performance than trump
    0:06:16 It did not happen just because turnout was up in
    0:06:19 pennsylvania and down in nevada
    0:06:26 It was a confluence of dozens hundreds of big and small things and it’s it’s a storytelling exercise
    0:06:33 To see who can basically tell the most convincing story about why the election turned out the way it did and there were political actors
    0:06:35 Who want to tell that story right like
    0:06:39 Moderates in the democrat party of kamala harris will win will say because she took moderate positions on this and that
    0:06:44 But there are people who from a sort of technical tactical perspective want to will want to say
    0:06:46 It’s because the tv ads were really persuasive
    0:06:53 Or it’s because our social media strategy was so good and you need a good bullshit meter and you know
    0:06:59 And then the best way to do that is just really be alert to everybody’s incentives for telling certain types of stories and be skeptical of
    0:07:02 Of of the times where people have a real
    0:07:08 Obviously transparent agenda and I think I and I think you know from a reader’s viewers perspective
    0:07:17 Be be wary of any sort of monocosal explanation for anything in in electoral politics. No one thing did anything right right now
    0:07:22 Well, I do think it’s fascinating that you you know when you’re talking about the behavioral change aspect
    0:07:27 um, one of the great things any entrepreneur could do is sort of learn from adjacencies and so basically saying
    0:07:31 Hey, if we want to win in politics, we could do things that have worked in politics
    0:07:34 But maybe there’s things that have worked in the business world or you know
    0:07:40 Sheldini wrote that book, you know about persuasion not for politics at all, but you could use things like that
    0:07:42 I mean, it’s like
    0:07:46 The way you describe that kind of like hey voter history is public. Here’s yours
    0:07:51 Um, and here’s your neighbors and we’ll be sending an update later. That’s elf on the shelf
    0:07:56 Right. That’s that’s me. Hey the elf is watching and he’s going to tell santa if you’ve been naughty or nice
    0:08:01 It’s as simple as that. I don’t need to explain the virtues and why you should be wanting out of your it’s just very simple
    0:08:04 Uh, somebody’s watching and and I think that that’s a very powerful thing
    0:08:07 I also found it interesting because
    0:08:10 What we traditionally hear if you just go turn on the news you turn on cnn
    0:08:12 You’re going to hear a talking head explaining
    0:08:15 They’re going to be talking about certain stories
    0:08:18 And they’re going to be they’re going to bring on some expert pundit
    0:08:23 Who’s going to tell you about how this thing that the vice president said during the
    0:08:26 You know convention and how that has this huge ripple effect
    0:08:31 But it’s actually just the most recent thing that happened. Yeah, and one thing I found fascinating was the story that you wrote
    0:08:37 about biden’s 2020 campaign and you talk in the in the article you wrote about
    0:08:41 They realized that they were flush with cash
    0:08:46 They were going to have more funding than they they were going to have more funding not less funding than what they needed
    0:08:49 And so I guess the campaign manager or somebody was you know asked somebody on their team
    0:08:51 They go if you had an extra 10 million to spend
    0:08:54 To have the highest impact, where would you spend it?
    0:09:01 And there was this idea about misinformation and as biden called it the malarkey factory
    0:09:06 And um, I thought this was pretty fascinating. Can you talk a little bit about the malarkey factory?
    0:09:11 And specifically this idea of the harm index if you remember that I can kind of prompt you it’s what I found fascinating there
    0:09:15 So, you know, I think that in in 2020 there was um
    0:09:17 The campaign called a disinformation
    0:09:22 But I think really to step back like they were trying to understand this new viral media environment
    0:09:27 So, you know, if you go back just eight ten years in in politics campaign
    0:09:33 Uh operatives would track communication by you could get a record of all the tv ads that are bought
    0:09:39 By by cans you could see all of them. There’s services that will that will record and um
    0:09:43 Allow you to access them digitally
    0:09:47 You could see all your opponents campaign finance reports
    0:09:50 You have a pretty good sense of where they’re getting money and how they’re spending it
    0:09:54 Um, but you can have a uke and you can read the press coverage or see what’s on the news
    0:09:57 You had a pretty good idea of where voters were getting their information
    0:10:01 What the internet had changed is now like basically anybody had the ability to launch
    0:10:07 Um a story and some of these get called disinformation because they’re they’re clear they’re transparently false
    0:10:13 But for political operatives the real thing was like stuff’s moving that we don’t know where it came from or where it’s going
    0:10:17 And and and what the motives of the people behind it are right because it’s not coming from our opponent
    0:10:20 Like we know what our opponents trying to accomplish that they have the same brain we do
    0:10:24 But if this is like Macedonian teenagers who are trying to gain like
    0:10:27 uh
    0:10:32 online clicks for for ad revenue or this is a foreign intelligence service or this is somebody
    0:10:36 Like in their basement doing it for for the laughs like we don’t
    0:10:40 We can’t game out like what they’re thinking stories are going viral
    0:10:43 It could have an impact and we don’t know who or why
    0:10:48 It’s it’s but who’s behind it. Yeah. And so the initially impulse was
    0:10:53 Don’t you know you you’d have all these sort of lessons from the old world
    0:10:59 Kind of media consultants like don’t let it an attack go unanswered right always be on offense
    0:11:03 Um and like yeah, that makes sense if your opponent is attacking you on
    0:11:06 What you know is one of their big themes, but if like
    0:11:12 Somebody in in Saskatchewan is making something up about you
    0:11:19 To impress their friends. Maybe you shouldn’t respond and maybe you can make the problem a whole lot worse by responding, right?
    0:11:23 Um, you elevate it you can you can end up engagement
    0:11:30 Algorithms can end up could end up helping spread it by you trying to fact check it
    0:11:35 And so the binding campaigns mentality was let’s shift from thinking about this as a supply side problem, which is
    0:11:41 Thinking about individual bits of content that are coming out every day and deciding how and when to response them
    0:11:45 And basically as they said playing whack-a-mole with like whatever the new thing that was trending that day
    0:11:47 And let’s think of this more as a demand side problem
    0:11:53 That the most of the stuff we probably don’t need to respond to it’s not actually going to change voters opinions
    0:11:58 But the stuff that we do need to respond to the campaign said is the stuff that that
    0:12:05 Meets existing anxieties that voters have about biden or about paris or about certain issues
    0:12:09 and so let’s preemptively try to understand which
    0:12:17 Viral narratives would be most damaging to the campaign would do the most harm so that when they pop up on a given day
    0:12:24 We have a framework for not overreacting or reacting to the wrong one. So this was the harm index. That was the the idea there
    0:12:31 Yeah, that’s what we enter big survey over the course of the summer of of um of 2020 and they and they took a lot of story lines
    0:12:36 Some based in truth and in a lot based in in uh, some version of lies
    0:12:44 That they targeted the ticket so they you know, and they would ask voters basically like three questions. Why are you familiar with this two?
    0:12:47 Uh, does it uh, do you think it’s true in three? Do you um?
    0:12:51 Would it make you less likely to vote for joe biden? That’s that’s very simple, right?
    0:12:56 Three three three questions and they’re doing this in person. This is online. How do they get this online?
    0:13:01 This was online panel testing. I think that they did and they would just show my headline, right?
    0:13:05 They’d be like hunter by this laptop weapon corruption, right? So yes
    0:13:10 So the hunter biden corruption stuff. This would be for the laptop. I think but you know
    0:13:14 Trump had already been impeached about trying to draw attention to his ukraine ties
    0:13:16 A lot of people said that they were familiar with this hunter biden stuff
    0:13:21 Not that many people said that it would actually make them less likely to to vote for joe biden
    0:13:24 And then they did focus groups and it came out that people
    0:13:28 People did not think the biden was fundamentally driven by his personal financial pain
    0:13:32 And so they might have thought it was they might have been familiar with it
    0:13:34 They might have even thought that there was some truth to it
    0:13:37 But it didn’t really change the way that they thought about buying on a core issue
    0:13:45 However, the stuff related to his age and his mental infirmity that stuff obviously a lot of people knew about it
    0:13:47 um
    0:13:49 And at the same time though a lot of
    0:13:55 Pursuatable voters said it would make them less likely to vote for biden and the focus groups revealed that it wasn’t that they were actually
    0:13:59 This wasn’t news to campaign that they find had an age problem in 2020
    0:14:00 um
    0:14:04 And the way that the communication staff on the campaign had dealt with this thus far was
    0:14:10 They would set up like photo ops of him him bicycling or like tell them to jog up the stairs to his plane
    0:14:12 right like
    0:14:18 And and what came back from the focus groups was like this was all wrong voters were not worried about
    0:14:25 Uh, his physical well-being they want concern like that. He wasn’t going to get his steps in in the white house
    0:14:27 They were
    0:14:29 They saw him as a fundamentally weak political figure
    0:14:32 I think a lot of this had to do with being defined as vice president
    0:14:37 He was like he won the he won the primaries of creating. He’s never the main character of that race
    0:14:39 And there are a lot of voters who said
    0:14:45 Basically like I kind of like the guy, but I don’t really know what he cares about or what he wants to do or who he’s going to listen to
    0:14:47 and
    0:14:52 That manifested so it wasn’t it was about his political weakness, but it manifests itself in being
    0:14:55 susceptible to
    0:14:58 Questions being raised about his physical condition and mental condition
    0:15:04 And so what the the way the campaign responded to those was first they went out in a
    0:15:08 Started buying ads in places where people who would be exposed to that type of content
    0:15:12 Pursuadable voters who would be exposed that type of content work
    0:15:18 So there’d been this effort on the left for a while to to boycott fox news and Breitbart websites
    0:15:23 On the buying campaigns. I know we’re buying advertising there because we want to get next to the content that people are seeing
    0:15:30 Do they bought like search terms? So if you typed in, you know, biden and senile or something you you would probably get
    0:15:33 Cookied and shown like a youtube pre-roll ad
    0:15:39 And they were things that if you were modeled as one of the persuadable voters who was sensitive on this age thing
    0:15:41 You would get targeted
    0:15:45 But you would not have any idea that it was about his age the most successful
    0:15:48 ad that they tested to these people was
    0:15:51 15 seconds of biden
    0:15:56 To camera just talking about like I grew up in scran and I have middle-class values
    0:16:02 And that’s why I want to you know cut taxes on middle-class people and raise them on the rich or something like really banal
    0:16:03 because
    0:16:10 All the research suggested that these people just wanted to hear him and his own voice saying what he cared about and what he would do
    0:16:12 that’s the people who who were
    0:16:17 Who could be turned off by the attack by claims that he was seeing I’ll just wanted to hear that like he could articulate
    0:16:23 His basic his basic world view right in a firm voice direct to camera not edited
    0:16:25 Like you know and and and they were suspicious
    0:16:29 of of things that looked too glossy or too slick
    0:16:31 um
    0:16:37 And so there was a sort of push away from kind of the traditional aesthetics of political advertising, right like a lot of like
    0:16:42 Here’s a headline and here’s a thing and here’s a cut and here’s some like
    0:16:48 Yeah, there’s more and and here’s and here’s some stock footage of farmers, you know eating ice cream and like no it’s like
    0:16:51 Really something very
    0:16:55 Clearly looked unedited. Um, because the because the people who are sort of
    0:17:00 Open to this were were ones who were sort of innately suspicious of political communication
    0:17:03 right right and so this idea of they
    0:17:08 Took the stories and they’re like you had the sleepy joe stories. You got the creepy joe stories
    0:17:14 You got the hunter biden stories tested on people figure out three questions. Have you heard about this?
    0:17:16 Do you think it’s true?
    0:17:21 And is this gonna like you know make you less likely to vote for for for biden?
    0:17:26 Super simple and then basically counter figuring out what is the counter programming message at first?
    0:17:29 They thought hey she’ll i’m on a bike that counters the sleepy joe message
    0:17:32 I think they had this score where on the x-axis it was like
    0:17:36 number of people who are aware of it on the y-axis it’s like
    0:17:41 How much it’s gonna impact their vote so they just they could just have a board that showed all the issues
    0:17:44 As like oh a lot of people are aware about this hunter biden thing
    0:17:48 But it’s not it’s not effective to vote low harm score a 25 harm score
    0:17:54 And then yeah, I skip I skip mark shonka like I think the first little podcasting is described charts people love that
    0:18:03 The x-axis was the reach so it’s harm index the x-axis was the reach right how many people had heard about it right and y-axis was
    0:18:11 What the infact yeah, you know impact and so you know and basically that the campaign’s thinking tactically on this was
    0:18:12 um
    0:18:16 If it’s in the bottom if it’s on the left of this thing we don’t need to worry about it
    0:18:21 If it has high impact but low reach let’s keep an eye on it because if it spreads
    0:18:25 If it makes the jump out of like some corner of 4chan to
    0:18:30 To you know mass media or you know getting to normal people on facebook
    0:18:35 Then we will have a problem so let’s be prepared and then the stuff in the upper right hand corner
    0:18:40 It’s reaching the voters we care about and it’ll change their opinions like that’s where we need to act
    0:18:42 right right
    0:18:50 Hey, let’s take a quick break to talk about another podcast that you should check out it is called the next wave
    0:18:54 It’s hosted by matt wolf and nathan lands as part of the hubspot podcast network
    0:19:00 Which of course is your audio destination for business professionals like you you can catch the next wave with matt wolf
    0:19:05 And he’s talking about where the puck is going with ai creators ai technology and how you can apply it to your growing business
    0:19:09 So check it out listen to the next wave wherever you get your podcast
    0:19:18 What about um trump so you wrote that book in 2012 i think 2011 2012 time yeah
    0:19:20 so then
    0:19:22 this guy who is
    0:19:24 you know this
    0:19:29 Persona this tv personality comes from the business world not a politician at all runs his campaign
    0:19:32 I think he even has admitted that like
    0:19:37 It wasn’t like he didn’t think he was going to win initially and therefore he talked about like
    0:19:39 I didn’t really have a plan because like you know nobody thought we would win
    0:19:44 We just thought we were doing our best and then when we got when we won I had to figure out the plan on day one
    0:19:49 What do you when when you look at that? What do you see do you see this kind of like master marketer?
    0:19:54 Do you just see this anomaly? Do you did he use the normal playbook? Was did he throw out the normal playbook?
    0:19:56 What did what did trump do?
    0:19:58 so trump in 2016
    0:20:02 What he did in the conventional sense was the big the big shift was he went from
    0:20:06 An uh tv dominated campaign for paid advertising
    0:20:10 He obviously dominated tv almost every day of the year in terms of free media coverage
    0:20:14 But his budget um, which is much smaller than hillary clinton’s was
    0:20:23 Typically, there’s a lopsided indifference between tv spending and digital spending and and also by direct mail and some of the
    0:20:27 the non-digital tools and I think he had he had like half the money
    0:20:31 Which is like unheard of the only place where you might see that
    0:20:37 These days there’s like a city council candidate in a place where it’s too expensive to buy television and all they can do is
    0:20:40 Is you know spend 40 000 on facebook ads, right?
    0:20:46 You never see high-level campaigns of any size that are that are at parity in those two and the reason trump
    0:20:54 Spent and was ready to spend money online starting in real way starting in the spring of 2016 was that jared kusher
    0:21:00 Came to him and convinced him that this what trump doesn’t like spending money. Um, he’s you know
    0:21:03 Pete’s claim also doesn’t use a computer
    0:21:08 Yeah, so this is kind of amazing like uh, did you see this clip that’s going viral right now of
    0:21:13 Him sitting there watching kamala’s speech. Have you seen this clip? I haven’t
    0:21:18 Yeah, it’s it’s uh, it’s from some I think there’s like a documentary. I guess it’s like a clip from it
    0:21:22 And so, uh, it’s called the art of the surge. I’m not sure if it’s that right? Yeah
    0:21:28 And so he’s sitting next to this blonde woman. I don’t know who she is and he’s literally like orating his tweets
    0:21:33 So he sees kamala say something on tv and then he goes
    0:21:37 Um, no way. We’re gonna let that happen exclamation point
    0:21:44 Um, not on my watch and send and then she’s typing and she says and he just does like 16 of those in like this like clip
    0:21:49 Because people never knew like wait this guy doesn’t use computer. Is he even behind his social and they showed him doing that
    0:21:53 Which is hilarious from that point. He’d had out he’d had a twitter account for five years
    0:21:58 and and and he understood that to be a big part of his celebrity and ability to drive traditional news coverage, but
    0:22:02 spending real money on on facebook ads not just on
    0:22:10 You know self-made content and hoping it it spreads organically that came because because jarred kusher came to him and convinced him
    0:22:14 Then instead of all the other things in the campaign where consultants are begging you to spend money
    0:22:20 And it goes out the door that you could make this a revenue center by fund by through for fund raising
    0:22:26 So you typically tv ads you you pay the money to try and change people’s opinion and you hope you get votes afterwards
    0:22:30 If you buy ads you can you target them well and you have people who want to give you money
    0:22:34 You can obviously this is why charities do online fund raising and stuff
    0:22:41 and so Trump started spending real money on facebook because he was seeing a return on and
    0:22:45 That resonated to him. It was it was the it was the you know
    0:22:52 It was economic motive fundamentally more than it was a part of a political strategy and what he ended up doing
    0:22:55 um by the combination of
    0:22:59 His organic ability to draw attention
    0:23:04 um online in ways that that traditional politicians couldn’t
    0:23:06 and the fact that they were
    0:23:12 um amplifying and catalyzing it through through what ends up being eventually some some real paid
    0:23:16 spending mostly on facebook advertising but also a little bit on other platforms
    0:23:21 He was able to create a community online that was you know
    0:23:28 Really deep and meaningful and to the people who are part of it and you know, I think that we thought at the time
    0:23:32 You know the idea was that obama was the great digital era politician because he had
    0:23:36 He had developed the best, you know the best and biggest lists
    0:23:42 That was the measure in in 2016 the measure of a successful online politician was how many sign-ups
    0:23:48 How many email addresses do you have how many people have given you their cell phone number and opted into letting you text them
    0:23:54 How many people followed you on platforms and that basically was supporters that you can now communicate with for free
    0:24:00 Right, that’s all all that all that represents is you no longer have to pay to advertise to them
    0:24:05 They have have given you the information and authorization to talk to them
    0:24:11 And but what did obama do with that these tens of millions of supporters who had had chosen to
    0:24:13 to um sign on in some way
    0:24:19 Well, he basically asked them to give money and occasionally to volunteer or take some action
    0:24:24 Um, but it was very transactional. It was very one sided
    0:24:26 uh, and
    0:24:33 What we realized in retrospect and that was basically every politician in the united states till trump came along and what trump did
    0:24:37 Mostly by instinct not by any strategy or I think great
    0:24:41 abstract conception of like how to communicate digitally because just
    0:24:44 He gets it in a in an animalistic way
    0:24:46 was that
    0:24:48 you
    0:24:53 Should engage like a poster does right and that means you know obama never like re
    0:24:55 amplified is
    0:24:59 retweeted or shared his his supporters content
    0:25:08 Why because if you’re the obama campaign in 2012 you spent hundreds of millions of dollars on opinion research
    0:25:09 polling
    0:25:14 focus groups other qualitative research testing your ads in your mail
    0:25:19 You have come down at that point you have come to the to the
    0:25:24 syllable on what you want to say on which issues when to whom how
    0:25:31 And the whole campaign is this command and control exercise to make sure that you’re saying the exact right saying at the exact same time
    0:25:33 At the right time to all the right people
    0:25:39 So the idea that you would take your most enthusiastic supporter who’s tweeting at you all day and just like share with your followers
    0:25:45 Is so antithetical to the way that political professionals think about the best way to communicate and trump does it because he does it impulsively
    0:25:48 Ha ha that’s funny. Let’s share it right
    0:25:51 And what he did was he created
    0:25:58 A community of people who were invested who felt like they were part of the campaign and they ended up you know
    0:26:03 The whole mean culture around him the online maga community
    0:26:04 is is
    0:26:06 Is a I think a far more satisfying
    0:26:13 Satisfying place for its members to reside online because they get all this reinforcement from like-minded people
    0:26:18 That obama or hillary clinton or joe biden never gave even if they collected a lot of names of people who
    0:26:20 Ended up giving them money online
    0:26:24 Right and that is that is a gift that I have not seen
    0:26:26 we’ve seen politicians and
    0:26:31 get some part of that for some period of time bernie sanders had some of that whatever else but there’s
    0:26:37 You know still so Paul the idea you have to relinquish a certain amount of control over your communications
    0:26:41 And there are very few politicians who who are willing to do that
    0:26:47 That is fascinating to me that I did not know the the story there of kushner coming in and basically like
    0:26:52 Changing the frame from we spend money to try to buy votes versus we spend money
    0:26:57 To rake in more money and then that one dollar becomes two that two becomes three and three becomes four
    0:27:04 That we can just continue to fundraise this way and then and ultimately if somebody’s giving you their money
    0:27:08 They’re probably closer going to give you their vote right so it’s not like you’re only doing one versus the other
    0:27:14 Japan’s have always had a very clear divide both in terms of like the org chart within the headquarters in terms of the budget
    0:27:18 And in terms of what you say and where and some of it’s because of regulations around around
    0:27:20 political spending but like
    0:27:27 Fundraising communication is a very different beast inside a campaign than persuasion or or get out the vote
    0:27:29 communication and
    0:27:32 Totally different offices in the campaign, but like what trump?
    0:27:35 I think sort of just
    0:27:40 Naturally found now was if you’re spending a lot of money prospecting on facebook telling people why you’re great
    0:27:46 On some of that will go to people who will end up shipping in 10 bucks and signing up for recurring payment, right?
    0:27:51 Some of it will also will go in front of people whose opinions you are helping to shape
    0:27:56 Some of it will go help turn people already support you into volunteers by getting this and that
    0:28:00 Campaigns did not typically think that they thought of it as we’re having
    0:28:02 We have our fundraising targets
    0:28:03 We have our
    0:28:08 Who almost by definition are not your persuasion targets because your persuasion targets are people whose minds aren’t made up
    0:28:11 Your fundraising targets are people already support you and you’re trying to get them to give more
    0:28:18 Yes, yes, um, okay, so I like that and it seems like you know trump is this kind of blend of
    0:28:22 Uh celebrities like an influencer brand right in the same way that you know
    0:28:29 Kylie Jenner you know Kylie Jenner can sell, you know makeup better than uh than a makeup brand that doesn’t have an influencer
    0:28:34 Or that you know, George Clooney can sell alcohol or you know, ryan reynolds can go sell
    0:28:40 Cell phone service through mary mobile. It seems like the ads using trump worked and it sounds like you’ve also kind of
    0:28:42 pointed out that
    0:28:44 He created a bit of a community
    0:28:49 Whereas like I can’t even really tell you what is comal like I could tell you trump’s community
    0:28:55 Which is the maga movement and I kind of know who they are what they look like what they what they stand for and what they’re all about
    0:28:58 I don’t even know what the name of the community would be
    0:29:03 For kamala like it would only be people who hate trump. I think is the only answer
    0:29:05 There was a little bit of they call themselves the k-hive
    0:29:10 Of like a little cluster of of kamala supporters
    0:29:15 But that campaign did not last long for a reason which is I don’t think that there is a particularly broad-based
    0:29:19 Um, enthusiasm for her never met a lot of k-hivers
    0:29:25 She has been at some disadvantage and there’ve been advantages to starting a campaign
    0:29:29 In july but a lot of disadvantages and a lot of it is that
    0:29:30 you know
    0:29:36 audience online audience takes a long time to build and you know, I I think that she
    0:29:42 I think it’ll be an interesting conversation to have after the selection as to whether she will have had the shortest presidential campaign
    0:29:44 in
    0:29:48 Modern american history by far, right? I mean that the general
    0:29:52 Tendency has been towards these two-year campaigns and she’s gonna have a four month
    0:29:59 Right campaign. Well, she’s done a couple things well, right? She raised a lot of money very quickly. She’s she’s out raised trump
    0:30:01 She’s also
    0:30:06 I’ve you know her tiktok when she started she you know picked a medium and it seems like they were picking alternative medium
    0:30:10 So, you know trump has done a lot of podcasts. She’s done a couple the podcast seems to be a bigger
    0:30:13 part of the equation this this time
    0:30:20 She went super viral on tiktok right away and they had a bunch of songs and little earworms like you know
    0:30:24 JD vance’s you know, i’m a never trump guy song that that that was great
    0:30:26 You know, they’ve done a bunch of things like that
    0:30:29 You know when he said the thing about eating the dogs eating the cats, you know within minutes
    0:30:35 It’s viral on tiktok as a song that somebody remixed and so I think they’ve done a lot of interesting things there
    0:30:39 Does any of that stand out to you? Do you have opinions on any of that? I’m curious how you look at that
    0:30:45 Um, you know, I think one other thing that they did which is pretty novel is that they have
    0:30:51 Gotten into the like clipping and amplifying little bits of every crazy little thing that trump says
    0:30:56 I mean, there was this school of thought among democrats. It was pretty prevailing. I think for for
    0:30:59 Most of the trump’s which is don’t give him oxygen
    0:31:04 Don’t give him exposure. You’re only feeding the whatever and uh, they would scold journalists
    0:31:06 Or why are you taking his speeches live?
    0:31:12 And why are you guys sharing your clips of everything he says and now go to the kamala hq account and
    0:31:16 It will be it’s like those guys, you know the media matters guys or whatever else
    0:31:21 We’re just clipping like all these wild things that that that go on fox news just these seven seconds
    0:31:26 He said that, you know, you can electrocute yourself with uh with a car on the moon or something and like look at this crazy old guy
    0:31:29 And that’s a very different mentality about how to go at trump in particular
    0:31:33 Then democrats had and so you know, I think that they they feel like they
    0:31:40 The the digital team in in the campaign, which is basically inherited entirely from the biden campaign
    0:31:46 They feel a little unshackled. They have much more to work with I think that there was you know, um
    0:31:52 Obviously, they have a a candidate who’s more dynamic and him closer to pop culture
    0:31:56 They have more celebrities who are eager to be associated uh with the campaign
    0:32:01 They also, you know, I think that there was a a sense that biden
    0:32:03 um
    0:32:08 So emphasized like the dignity of the office and trump is beneath this that there was a sense of like
    0:32:12 let’s not get down in the mud and and play trump’s game and I and
    0:32:15 um, I think that there’s a real freedom to do kind of name calling and
    0:32:19 Stuff that that the biden people would have thought is sort of pettier than their brand
    0:32:25 Um, you know, and so so yeah, I think that they’ve been far more willing to mix it up in
    0:32:27 online
    0:32:34 Um, I I do think though this is an area where she probably you know and engage with influencers and such but
    0:32:39 If she’d had an extra year to cultivate those relationships online
    0:32:44 Some of that would be showing through now in a way that they’ve just been you know scrambling to
    0:32:49 I mean they were doing things in august that campaigns are usually doing the previous march like you know
    0:32:53 Designing a logo, right? I mean like really like day one type type things
    0:32:58 You’ve studied and covered elections for like more than 15 years
    0:33:02 I think who do you think is running the better campaign right now?
    0:33:04 Not who’s gonna win, but who’s running a better campaign?
    0:33:10 I thought trump for most of the year was running as good a campaign as
    0:33:17 He could run now. I start to see a real mismatch between what they claim is their strategy and
    0:33:23 And the organization that they have been building for it, which is you know in short
    0:33:27 So much of the trump plan seems to be based on
    0:33:32 mobilizing young men, especially young men of color
    0:33:35 um
    0:33:40 And there’s reasons in polling to suggest that there’s real room for for him to gain in a way that
    0:33:42 That few republicans have there
    0:33:47 But the you know, that’s that’s this job of basically going to people who are not voters
    0:33:49 and turning them into voters and
    0:33:54 All the research I’ve written about suggests that you know the best way to do that is
    0:33:58 high quality face-to-face interactions
    0:34:02 Uh from a volunteer be sure to volunteer from a voters community and them
    0:34:08 To to have these sort of socially meaningful interactions to give them really practical advice like you know
    0:34:11 Where’s your polling place and and and and all of that stuff?
    0:34:16 And the campaign has made a decision to effectively outsource a lot of that
    0:34:20 You know what what people call ground game or field organization?
    0:34:25 but the real boots on the ground part of campaigning to america pack which is the elan musk uh
    0:34:28 funded super pack
    0:34:37 And typically the division of labor on campaigns has been that that sort of nuts and bolts labor intensive work that does not scale up easily, right?
    0:34:44 You know that going from 100 people in west philadelphia knocking on doors to 200 people knocking on doors in west philadelphia takes twice as much
    0:34:53 Work in capital going from 100 ads on tv in pennsylvania to the same ads running twice as often takes basically no more effort
    0:35:00 And so the way that there’s been this big question for about 15 years about how do you divide responsibilities between campaigns and the super packs outside?
    0:35:05 different sets of rules different advantages for each of them and typically the way it’s broken down
    0:35:08 Is that campaigns and the party committees will do that labor intensive work?
    0:35:13 That doesn’t scale up and the money on the outside will basically buy ads
    0:35:19 Mostly tv some digital that amplify the message because they can’t coordinate with one another directly
    0:35:21 the
    0:35:23 The trump people blown up that model
    0:35:28 and they’re now trusting this outside group that musk runs to
    0:35:33 Do this door knocking thing? What is he doing because I actually haven’t followed it fully
    0:35:36 He’s going mr. Beast. He’s giving away a million dollars a day
    0:35:40 I I don’t even understand what that is. Can you explain that? What is you on doing?
    0:35:43 So he’s paying people to get their friends to sign petitions
    0:35:47 She can get like in a 47 dollar bounty or something if you can get your friend to sign a petition
    0:35:51 That says like I believe in the first and second amendment and give your information
    0:35:57 Um, and what is that? Why why that I can come up with a few theories of what?
    0:36:02 They could do with that information, but it seems like a pretty roundabout
    0:36:04 Way to get information that’s already available
    0:36:10 Like there’s already a database of every voter in the state and if I wanted to know people in pennsylvania who care about
    0:36:13 uh
    0:36:17 You know who are conservators or you know, or maga or and own a gun like that’s
    0:36:24 A combination of publicly available or viable information. I shouldn’t have to pay people to go collect it from their neighbors. Um
    0:36:27 And so it seems
    0:36:33 Like a tactic you would use that’s far better if you’re trying to have a long-term movement
    0:36:35 organization building thing which doesn’t
    0:36:42 I haven’t seen any indication that that ilan musk is trying to build a generational movement here. Um
    0:36:46 It does not seem like a particularly effective way to to to get people to
    0:36:50 To vote for the first time or the second time in their in their lives
    0:36:55 So that’s one big part of what they’re doing then they’re doing just a lot of basically hiring day laborers to go
    0:36:57 knock on doors
    0:37:02 and there’s been a bunch of reporting wiretests and the reporting uh daily beast, I think on
    0:37:10 It’s like it isn’t any industry hiring people off the street and and paying them by the hour or or um,
    0:37:12 or product contacts, um
    0:37:19 Leads to a lot of bad work and you have a lot of really poor incentives for people to either be inefficient or or give you bad data
    0:37:23 If you’re if you’re if you’re paying them uh per complete
    0:37:28 So I I I’ve sort of shifted my view on the competence of that the the trump organization
    0:37:31 over the course of the year because it seems like they they
    0:37:36 They haven’t aligned their strategy with their their tactics and an organization
    0:37:40 And I think common hairs is like a far more traditional democratic campaign
    0:37:45 And there’s a a kind of you know sensible logic to it even if if she’s made a few mistakes along the way
    0:37:48 It sounded like the thing ilan’s doing, um
    0:37:54 You know, he’s trying to sign you can’t pay people to vote. That’s illegal
    0:37:59 So it’s kind of like I’ll pay you to sign the petition and the petition says something that sounds very like agreeable
    0:38:03 Like I I support free speech. Yeah, who doesn’t right like that sounds pretty reasonable
    0:38:08 But like it seems like there must be some some 3d chess going on that I’ve not I don’t fully understand
    0:38:10 Which is what what do you do after that? What’s the point of that?
    0:38:15 Yeah, I mean if you use that information and then you have a really good operation to call those people
    0:38:17 Maybe target them with digital advertising
    0:38:21 Call them and knock on their door and say I know you’re a first and second amendment voter
    0:38:27 And you sign the petition devoting yourself to the cause now do this and this like there’s actually a reason to think that works
    0:38:32 But that’s just then one step. That’s just the first step in a three or four step process and you need to be really
    0:38:36 Good and targeted at the next few steps because
    0:38:40 You know one real difference. It’s important. I think for for your audience keep in mind when you
    0:38:44 Um learning from adjacent fields is is great and important a lot of the breakthroughs
    0:38:47 I’ve written about have come from people in politics looking to to business or elsewhere
    0:38:52 But there’s some really different really important differences between business marketing and political marketing
    0:38:54 And one of them is that the cost of uh
    0:39:00 Of mis-targeting out of a false positive in your modeling is really high in politics, right? So if you are
    0:39:03 If you have a consumer product
    0:39:12 And your coke and you put a coke ad in front of somebody who’s on a diet or doesn’t like sugar has diabetes or like whatever
    0:39:15 Okay, you wasted
    0:39:18 For that person big deal
    0:39:22 If you are the trump campaign and you send a door knocker
    0:39:25 To do a get out the vote reminder to somebody who is
    0:39:29 Your data tells you is should be a trump supporter, but they’re not
    0:39:32 um or
    0:39:33 There’s one trump supporter in that house
    0:39:40 But you remind three other people the three women living with that one trump supporter that it’s election day on tuesday too
    0:39:44 And it makes them more likely to vote or your person’s just kind of inefficient, you know like
    0:39:50 Lazy and they knock on the wrong door in the apartment complex and they end up going to the to the Harris supporter and reminding them
    0:39:56 You’ve not only you haven’t just wasted that interaction. You’ve created a vote for your opponent
    0:40:01 There is nothing the only thing like that in the marketing world where there’s that cost to
    0:40:08 Uh misidentifying your targets is maybe an insurance for or or credit cards
    0:40:13 Where if if a company thinks that they can extend you a ten thousand dollar or credit limit and you’re not good for it
    0:40:16 They made a big mistake right if an if an insurer decides that you
    0:40:21 That you’re uh, you know should be a five hundred dollar premium and it turns out that you cost them a lot more
    0:40:24 They’ve really screwed up but most consumer marketing like
    0:40:29 There’s not a huge downside to getting your message in front of the wrong people but politics
    0:40:34 There is and I think that’s the big mistake that a lot of people
    0:40:38 And perhaps Elon or the people around him make as they move from business to politics
    0:40:41 They say let’s just throw resources at it when I needed to
    0:40:45 When I needed to build, you know create interest in Tesla
    0:40:50 I just bombarded all these people digital advertising about tesla offered them all a free
    0:40:56 test drive and you know cocktail at our at our at our cool, um, uh
    0:41:05 Showrooms like that probably works to start building interest in tesla. It’s a terrible way to to try to turn out voters for your candidate
    0:41:12 All right a quick break. I know that if you’re listening to my first million that means you love numbers
    0:41:16 Well, I’ve got a new podcast called money wise and the premise is simple
    0:41:22 We talk to high net worth people so people who have somewhere between 50 to 500 million dollars
    0:41:26 And we start with simple premise which is tell me exactly how much money you have
    0:41:32 How much money you make every month what your portfolio looks like how much money you spend every month
    0:41:36 And every other bit of information that involves your net worth and your spending
    0:41:41 And the reason we do this is because I want to demystify money
    0:41:46 So we just had this woman named ann who has a 94 million dollar portfolio after selling her business
    0:41:50 And she spends 360 thousand dollars a month and she talks about where the money is
    0:41:54 And what she spends it on and why she spends that much and if it makes her happy or not
    0:41:58 And then we dive deep on different topics like children buying versus renting
    0:42:03 Giving money away. We basically are having a conversation that I see a lot of rich people having behind closed doors
    0:42:08 We do it publicly so check it out. It’s called money wise and you can find it wherever you get your podcasts
    0:42:17 And when you’ve been looking into a space like this like how disillusioned do you get and really I guess the question is
    0:42:25 You’ve now studied multiple election cycles. You’ve heard you’ve talked to the teams behind this and then the different subsections of this industry
    0:42:30 What’s like, you know, when I clean my house and I move the couch and I’m like, oh my god
    0:42:35 There’s 10 years of my kid snacks under here. Like, what’s the thing or you’re like, I wish I didn’t see that
    0:42:37 I wish I didn’t know that what what is the
    0:42:42 ugliest part of this that that really has you know, you you saw or turns you off
    0:42:46 I mean, I think the disinformation stuff is is you know
    0:42:52 I generally was encouraged in the early years of writing about this because the people who were at the cutting edge of using this data and experiments
    0:42:58 Were generally in the business of trying to get more people to vote or giving voters information that was more relevant to them
    0:43:01 And that struck me as like democracy was
    0:43:05 Was improving because of technology and innovation
    0:43:07 um
    0:43:08 If I use
    0:43:12 Campes have a lot of data about individual voters. That doesn’t really scare me a lot of people have a lot of data about voters
    0:43:16 And they were usually instead of giving you some vague thing about, you know
    0:43:22 Morning in America if I if I think that you’re likely to care a lot about about, um, you know
    0:43:29 Cancer research and I give you a now tormented message about what I my campaign would do for cancer research
    0:43:31 Like I think that that’s generally good for the country
    0:43:36 What what has changed is I think you have so many people have the ability to reach large numbers and voters now
    0:43:42 We’re just not constrained by a lot of the expectations about honesty and can’t be held accountable for what they say
    0:43:44 and
    0:43:47 And I think that that that is is is scary to me
    0:43:52 What’s going on now because ai has now made it easy to do deep faked audio
    0:43:58 I can make I can make it I can make donald trump say anything for like, you know, 30 cents on my computer right now
    0:44:02 I can make a video that shows, you know, something that I want happening
    0:44:11 Um, I could have if hey if uh, if phone banking works. Why can’t I just spin up an army of ai phone agents to just call everybody
    0:44:16 What is what have you seen as the new tools and is that has that happened this cycle or you think it’s next cycle?
    0:44:18 relatively
    0:44:22 Maybe less the cycle than I would have thought if we’d have this conversation a year ago, um
    0:44:28 You know, I think that campaigns this is a place there were some campaigns that wanted to be first because they realized
    0:44:33 I’d get a lot of attention and and um and wanted that but I think most campaigns
    0:44:36 are afraid of the backlash of of
    0:44:44 Of being associated with with ai even for not necessarily even from for manipulation
    0:44:49 But just like, you know on non-live callers and and so I think there’s a hurdle that
    0:44:58 Campaigns have from a kind of brand image perspective about being associated with with new or potentially sort of invasive feeling technologies
    0:45:04 um, and so there’s been less of that where people are using ai the most in this campaign is like
    0:45:10 Sure the same way we all might use it which is like brainstorming first drafts of of fundraising emails
    0:45:15 You know like most fundraising emails. They need to come up with new ones every day to send to people
    0:45:22 they’ll basically use the same types of of uh themes and and and messages
    0:45:24 You’re probably going to eb test them anyway
    0:45:27 So instead of having a bunch of you know
    0:45:33 23 year olds who just you know graduated from liberal arts colleges like typing out your first drafts and trying to see whether the
    0:45:38 The one that scares people into thinking you’re losing was going to do better than the one that has like jaylo’s
    0:45:46 Signature under it. Why not have the machine come up with 10 different jaylo ones and test those and that’s I think like probably that that
    0:45:52 The most we’re seeing um ai or automation being used in this campaign, but I think obviously that’ll change over the next few years
    0:45:55 right um wire
    0:45:58 Why is cambla doing like a a fortnight map?
    0:46:03 they just released like a they’re basically like advertising in video games which I think others have done in the past but
    0:46:07 I mean those people aren’t even old enough to vote. I think the average fortnight player
    0:46:08 What’s the psychology around that?
    0:46:15 So it starts from the position of having more money than they know what to do with and they’re being an unusual scarcity issue for
    0:46:22 Political markers, which is like one you have one day by which all your sales have to be completed. I don’t think there’s another
    0:46:28 Industry I mean there’s seasonal industries. I guess like a july 4th firework store. Yeah, right. So like
    0:46:34 Um halloween stores probably make some interesting pricing decisions on november 1st, right?
    0:46:35 um
    0:46:38 So one thing is that they like have a lot of money. They have to get out the door
    0:46:45 And all of the tv is bought up in you know, we’re down to seven battleground states the tv markets are saturated
    0:46:49 There’s a point at which you can no longer send out new direct mail
    0:46:50 um
    0:46:57 If you wanted to get more volunteers knocking on doors you probably had to start building offices and having staff to train them months ago
    0:47:00 And so at the end of the campaign you start to see
    0:47:02 Uh, the end of this, you know, right before election day
    0:47:09 You start to see campaigns making decisions that are driven less by efficient like overall efficiency and more by
    0:47:12 Basically, where can we very quickly park some money?
    0:47:18 and and I think that that um, you know that that’s when you start to see like soundtracks and
    0:47:21 Stuff like that because there’s just nowhere else to put it
    0:47:26 some people have called this election the the sort of the the podcast election because you have
    0:47:29 Podcasts have become this huge medium
    0:47:36 You have unedited unfiltered conversations. It’s kind of one of the only ways you can actually see what a candidate is really like
    0:47:41 I was joking with my buddy. I said I think going on theovans podcast should be a new
    0:47:43 federal standard for presidents
    0:47:48 I just need to know if my president’s a good hang or not. Yeah, and uh, theovan might be the only guy who could save us there
    0:47:54 um, you know, trump did rogan jd vance just did a three hour thing with rogan and famously kamala
    0:48:01 And you know rogan said hey, you can come out to austin and let’s do you know, two three hours unedited in my studio. She said no
    0:48:02 um
    0:48:05 There’s two reactions to that one was wow
    0:48:10 What a dropped ball you could have gotten in front of 30 million people in a like super meaningful way
    0:48:16 Another was how dare you joe? She’s the vice president and there’s a few days left for the election
    0:48:18 How do you have demands you should be you know?
    0:48:20 Crawling to her to do this
    0:48:25 And other people would say you’re not going to convince anybody who listens to rogan to vote for you count for for kamala anyways
    0:48:32 What do you think about the role of podcasts and was it a mistake for kamala to not go on rogan?
    0:48:35 I think that her campaign
    0:48:37 um
    0:48:41 Was slow to put her out in
    0:48:46 a lot of different venues, you know, there’s that week where she did call uh, uh
    0:48:52 Call her daddy and and the the view and it was like oh and then maybe she did colbert or kimmel or something
    0:48:58 It was like oh, she’s doing media now and right part of what was shocking about that was that she was doing so little of it early on and like
    0:49:03 Again, they had to build a campaign from scratch really quickly at a at an inopportune point
    0:49:05 She had to pick a vp. She had to get ready for
    0:49:10 You know a nomination speech debate all the stuff that she did not expect. She was going to have to do a few weeks earlier
    0:49:12 so um
    0:49:16 but also, you know, one of the advantages that democrats had in in
    0:49:22 dumping biden from the ticket and getting her was you had somebody who first of all to send more energy
    0:49:28 In theory, she can like work a full day and do a bunch of things that biden isn’t expected to do
    0:49:31 the other thing is she’s more dynamic and she’s you know
    0:49:35 More in tune with pop culture and I think there was some sense that
    0:49:43 Wow, democrats are gonna go from somebody who does like three rallies a week and his his staff is afraid to put in
    0:49:46 You know, I’m like face the nation not even
    0:49:48 feels on like
    0:49:51 to somebody who can do five events a day and
    0:49:54 interviews non-stop and she’s charismatic and and
    0:50:00 Intelligent and all these things and that never really came to fruition and I don’t know
    0:50:08 How much this I think might be one of the things we start to learn after the election when when some journalists or book authors get
    0:50:12 A little access into what they were thinking. I think one of the questions is how much of that was just that they didn’t have the
    0:50:15 time to do as much of it and and
    0:50:17 That would be could be sensible to me
    0:50:23 The other or was it that the staff was fundamentally afraid that the downside of going into an unstructured
    0:50:29 Two hours with joe rogan offsets the the upside of of getting in front of that audience
    0:50:33 Can you give me a couple minutes on your new book? So you got this new book out
    0:50:37 What’s the what’s the premise and then can you give me maybe one of the juicy?
    0:50:41 Findings or learnings or stories that you had from it
    0:50:45 Yeah, so it’s about this sort of new era. We’ve we’ve we’ve bouncing it out of this
    0:50:49 But the new asymmetry that’s created when in this digital environment where
    0:50:52 Is that their opposition is is not their opponent?
    0:50:58 It’s not another candidate or party it it could be you know, the foreign intelligence service or somebody who’s
    0:51:03 You know attacking you for shits and giggles or or who knows what and and
    0:51:10 How sort of what the the search for a playbook for for learning how to communicate in that environment because it blows up
    0:51:16 So many of the expectations about about campaign strategies and I write a bit about that biden
    0:51:21 Example in there, which I think was really a really important shift in starting to think about
    0:51:29 The recipients of disinformation more than the producers of disinformation, which has been I think a big mistake that that not just campaigns of people in the media
    0:51:32 Make and try to understand what impacts only we’ll have
    0:51:36 But I also worry about a really interesting group called we defend truth that
    0:51:39 this this it’s a progressive group that
    0:51:43 Has been trying to fight basically conspiracy theories
    0:51:48 around the 2020 election and around around covid vaccines
    0:51:53 They basically have gone out and hired some of the more successful like jiff and meme makers online
    0:52:00 You know a guy who had like the most likes on him gathering stuff and their their theory of the case
    0:52:03 is that
    0:52:05 you need to be engaging in the in the
    0:52:10 In the vernacular of the internet meme warfare. You have to you have to fight memes with memes
    0:52:15 You have to fight memes with you and you need to be communicating in the way that that online audiences expect to be communicated to
    0:52:19 Which means be coarse and be and be funny and you know
    0:52:25 Be kind of in the pop culture conversation. Do not feel like political communication. Do not feel like marketing
    0:52:30 Um, and you know, I I quote one of their um the sort of head guy there
    0:52:33 He says like you need to earn the right to communicate with people and to do that
    0:52:36 You have to usually entertain or inform them first
    0:52:40 And I think it’s a really interesting way of starting to think about
    0:52:43 how traditional political communication
    0:52:50 Has to fundamentally rethink itself from the one way broadcast dynamic that a lot of the modern
    0:52:52 um
    0:53:00 Thinking about campaign was shaped into the kind of you know two-way or multi-linear sort of environment that of social media
    0:53:02 It reminds me of like when
    0:53:06 You had tv and movies were like the dominant video
    0:53:12 Like media and if you were making a tv show you could afford to spend the first few minutes
    0:53:15 If you watch the first couple minutes of a tv show, it’ll be like
    0:53:19 The scene starts in new york a guy’s walking
    0:53:22 We don’t know who he is what he’s doing and then there’s like this harmless scene
    0:53:25 And then it finally like you get to the characters and the story
    0:53:27 If you ever watch a tiktok or a youtube video
    0:53:33 Like in the first five seconds, they’re doing something to tell you do not click away
    0:53:35 Stay on this video. You got to watch this video
    0:53:41 Like I hang out with mr. Beast and he’s like he could recite to me the first 40 seconds of of script
    0:53:46 From a video he did three years ago because he drilled it so many times and every word
    0:53:51 Was chosen of like I cannot like leave this first minute up for grabs
    0:53:53 Right and what he talks about because I asked him I said, you know
    0:53:56 Do you ever look at tv and what you could learn from them and he goes?
    0:54:01 Yeah, but what they could learn from us. I mean, he’s like do tv would never survive
    0:54:07 On youtube and you he’s like people would click away and have terrible retention rates terrible click-through rates
    0:54:10 They couldn’t survive in our world. And so similarly what you’re talking about is
    0:54:16 In the old world where it’s my message versus the other candidate’s message and it’s just those two. It’s a 1v1
    0:54:21 You know, there’s one playbook and now you’re saying you’re just playing the field
    0:54:26 There’s the field of the internet where there’s stories and information coming from all kinds of different people
    0:54:29 With all levels of accuracy and different levels of impact
    0:54:35 How are you going to respond to not a 1v1 but sort of you versus the entire field of content that’s out there right now
    0:54:41 And what’s your playbook to win there? Yeah, absolutely. And I think we’re only now starting to get you know
    0:54:45 People have campaigns having a more
    0:54:49 Instinctual understanding it used to be so much of online campaigning
    0:54:51 you know
    0:54:57 In the 2000s 2010 was basically let’s take things we’re already doing offline and figure out how to move them online, right?
    0:55:00 Okay, so we know how to make 30 second videos and put them on tv
    0:55:04 Let’s just turn them into you know, maybe we have to go from vertical horizontal or vertical or whatever
    0:55:07 But let’s just figure out how to get them on to onto social media platforms
    0:55:13 Can we can we do something online that looks can we basically take our direct mail program out of the that?
    0:55:18 The usps and put it on into email and now I think we’re starting to get people in politics
    0:55:20 some of it’s a generational shift some of it’s
    0:55:27 Democrats realizing how poorly they’ve been outfoxed on online during the chanbera just started like we need to really step back
    0:55:31 and rethink some of these foundational questions of how and why you
    0:55:34 communicate to certain people
    0:55:41 I want to I want to leave with one last question, which is what do you think is the most mispriced or misunderstood opportunity?
    0:55:47 In elections meaning if somebody hired you and they’re like, all right, you’re gonna you’re our consultant
    0:55:49 um
    0:55:54 And you got to give them input to do something that maybe they’re not already doing or maybe they’re doing but not enough of
    0:55:59 Where would you place a bet that you think has sort of more upside than people are currently?
    0:56:02 You know taking advantage of
    0:56:03 so less
    0:56:05 maybe not economic upside
    0:56:08 but
    0:56:13 sort of political entrepreneurial upside would be in communicating with the voters
    0:56:16 outside of election cycles and um
    0:56:20 uh, you know, I think there’s a great example now like
    0:56:24 The best I think we’re gonna if trump wins this election
    0:56:30 We’re gonna look back and say arguably his best period was a period in 2021 2022 when he was largely out of the news
    0:56:36 Republicans are distancing themselves the media wasn’t covering him democrats had hoped he was gone and stopped attacking him
    0:56:39 and he was able to
    0:56:44 Start to build up some sense of nostalgia for the trump years a lot of it like
    0:56:48 Not based in a real understanding of what 2020 was like when he was president
    0:56:57 but have distance helped him and if democrats had kept like a foot on his neck through advertising reminding people yes the reason you know
    0:57:03 Wherever unemployment was in in inflation were in 2021 was because of the guy who was just there
    0:57:05 reminding people about
    0:57:11 Some of the kovat dynamics, but like they pulled away from him at just the moment that they propped they
    0:57:14 could have um
    0:57:19 continued to define him and I think there are a lot of reasons for that political money disappears
    0:57:22 out of cycle you only get the surge of interest in cycle
    0:57:25 but um
    0:57:28 There’s short people starting to talk about party based branding, right?
    0:57:33 So like so much of our political our political communication paid to me at tvs are almost entirely about candidates
    0:57:35 and yet
    0:57:41 Like when we started this conversation was that basically 45 percent of of the country are democrats of 45 percent of republicans
    0:57:45 And they’ll always vote for their party and yet no political advertising has spent branding the parties
    0:57:52 And I think there are advantages to doing that in a counter cyclical way when people are not being bombarded by
    0:57:54 Tons of tv ads
    0:57:57 But be reminding people the republican party stands for this and this
    0:58:00 Here’s how the democrats screwed up last time or vice versa
    0:58:03 um and try to
    0:58:05 Think about not just
    0:58:10 Winning votes in an election, but but sort of long-term audience building for a party
    0:58:18 I like it. Uh, maybe you could also be one of these these political, uh, consultant shops that are making bank
    0:58:23 What’s what is the what is the business that stunned you if how much it makes in the uh, in this sort of election
    0:58:28 In this election marketing business. Is there any whether it’s a polling company or a research company that like
    0:58:35 Is there any like multi hundred million dollar companies out there that do this the business model that’s still most astounding is is uh
    0:58:42 Media buyers who get paid a commission off of off of the ads they place when percent of ad
    0:58:49 Of ad spend and you know digital advertising is more labor intensive for them. But buying tv is
    0:58:54 You know, there are only so many stations in in wisconsin that you could put ads on and
    0:59:01 You know, it doesn’t take any more work to double the buy and they get paid a commission off of them
    0:59:09 And they’re you know that that that’s in this been that way for decades and this is is there one like dominant ad buyer that like
    0:59:17 There are a handful on in each party, but um and you know, they’re they’re probably having revenue in the
    0:59:20 Some of them also make ads and so they’re part of a bigger media business
    0:59:27 They’re probably you know playing on a high end in the in hundred million dollar revenue range. We’re not talking about you know
    0:59:30 huge companies but
    0:59:37 But it really does not require at this point a lot of savvy or or or or labor ad buyers one
    0:59:39 Give me one more. Is there any other cool business that?
    0:59:45 That is maybe it’s like a one-man shop that makes you know 10 million a year just doing a specific thing or
    0:59:48 Is there any other interesting business niche that that you just stumbled into?
    0:59:52 There’s still some interesting stuff to be done with data and modeling
    0:59:58 Um, especially, you know, there are a lot of sort of boutique firms that will do campaign specific modeling
    1:00:00 but what’s happening now is
    1:00:01 that the
    1:00:06 Things that presidential campaigns were able to do only presidential campaigns are able to do maybe 12 years ago now
    1:00:14 Somebody running for county executive can use and I’m not sure that there are this is more an opportunity that people have mastered
    1:00:15 but I think that there
    1:00:19 have probably opportunities to figure out how to package and translate that for
    1:00:26 Small-scale campaigns that do not have professionals always working on them the person running for state rep in your neighborhood
    1:00:33 Her brother might be like the effect the fact of campaign manager and whatever else and often that the delta between
    1:00:37 What what a sort of engaged layperson?
    1:00:41 Trying to run a campaign can do and the sophistication of the tools and data available
    1:00:42 It’s just too much to bridge and they don’t do it
    1:00:48 But there probably is a way to to price those and create tools that are more accessible
    1:00:53 That that’s where I think that’s a place that if people were looking to try to get into the sort of tech end of the political business
    1:00:55 There’s there there’s price of opportunity
    1:01:01 Very cool. Sasha, I appreciate you coming on and give us the extra time man. This is fascinating. Thank you so much
    1:01:04 Where should people find you send them to your book? Tell them what tell them what they need to know
    1:01:10 Yeah, my new book is called the lie detectives in search of a playbook for winning elections in the disinformation age
    1:01:14 And I have a website Sasha Eisenberg. So it’s my first name in last name.com
    1:01:20 Um, you can find all my books there. My my first one was about the global sushi business, which may be of interest to
    1:01:26 To to you too. So, um, it’s been really fun. I I love talking about politics from an angle
    1:01:33 That’s different than one people are saying on cnn on any given day. So thank you. All right. Thanks so much man. That was great
    1:01:34 future
    1:01:38 I feel like I can rule the world. I know I could be what I want to
    1:01:44 I put my all in it like the days off on the road. Let’s travel never looking back
    1:01:46 Bye
    1:01:48 You
    1:01:58 [BLANK_AUDIO]

    Episode 571: Sam Parr (https://twitter.com/theSamParr) talks to Jason Lemkin (https://twitter.com/jasonlk ) talk about the 7 rules of building a $100M business.

    Want to see Sam and Shaan’s smiling faces? Head to the MFM YouTube Channel and subscribe – http://tinyurl.com/5n7ftsy5

    Show Notes:

    (0:00) Jason Lemkin’s first million

    (4:19) The rules of getting to a 9-figure exit

    (5:32) Rule 1: New minimum is $400K per employee

    (7:58) Rule 2: Go multi-product

    (9:40) Rule 3: Your second product must be bigger than your first product

    (11:05) Cheat code: Double your prices

    (13:48) Rule 4: 30% of your revenue is international

    (15:43) Rule 5: Localize your product

    (19:05) Cheat code: Remove friction

    (22:42) Rule 6: 100% net revenue retention

    (29:01) Business models that won’t get you there

    (33:38) $100M conferences

    (39:35) Rule 7: Don’t raise double digit millions

    Links:

    • Saastr – https://www.saastr.com/

    • HLTH – https://www.hlth.com/

    Check Out Sam’s Stuff:

    • Hampton – https://www.joinhampton.com/

    • Ideation Bootcamp – https://www.ideationbootcamp.co/

    • Copy That – https://copythat.com

    • Hampton Wealth Survey – https://joinhampton.com/wealth

    Check Out Shaan’s Stuff:

    Need to hire? You should use the same service Shaan uses to hire developers, designers, & Virtual Assistants → it’s called Shepherd (tell ‘em Shaan sent you): https://bit.ly/SupportShepherd

    My First Million is a HubSpot Original Podcast // Brought to you by The HubSpot Podcast Network // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano

  • My Step-By-Step Process To Building a $1M+ Business

    Episode 570: Shaan Puri (https://twitter.com/ShaanVP) and Sam Parr (https://twitter.com/theSamParr) go through Sam’s journey of launching his company Hampton. It’s a step by step walkthrough of what went right and what went wrong. 

    Want to see Sam and Shaan’s smiling faces? Head to the MFM YouTube Channel and subscribe – http://tinyurl.com/5n7ftsy5

    Show Notes:

    (00:00) Intro – A radically transparent look inside Hampton launch.

    (2:22) The beginning of the idea just after Sam sells The Hustle, starts tinkering with buying AirBnBs.

    (3:00) Fail #1: Short-term rental crew. Fail #2: Community of truckers.

    (4:30) The Hampton idea and what the business is. 

    (5:45) Fail #3: V1, V2, V3 of Hampton – no one wanted it

    (8:00) Accepted where the demand was and found the hook for Hampton. Research begins.

    (10:08) Where the name came from.

    (12:05) Hired a branding agency (This was a hack that helped build the brand)

    (14:12) Things Sam said no to 

    (17:00) Leverage the founder story

    (20:18) Shaan’s branding agency experience

    (21:40) Shaan’s $25K Mistake: Hiring a naming agency

    (26:00) Takeaways

    Links:

    Check Out Shaan’s Stuff:

    Need to hire? You should use the same service Shaan uses to hire developers, designers, & Virtual Assistants → it’s called Shepherd (tell ‘em Shaan sent you): https://bit.ly/SupportShepherd

    Check Out Sam’s Stuff:

    • Hampton – https://www.joinhampton.com/

    • Ideation Bootcamp – https://www.ideationbootcamp.co/

    • Copy That – https://copythat.com

    • Hampton Wealth Survey – https://joinhampton.com/wealth

    My First Million is a HubSpot Original Podcast // Brought to you by The HubSpot Podcast Network // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano

    Past guests on My First Million include Rob Dyrdek, Hasan Minhaj, Balaji Srinivasan, Jake Paul, Dr. Andrew Huberman, Gary Vee, Lance Armstrong, Sophia Amoruso, Ariel Helwani, Ramit Sethi, Stanley Druckenmiller, Peter Diamandis, Dharmesh Shah, Brian Halligan, Marc Lore, Jason Calacanis, Andrew Wilkinson, Julian Shapiro, Kat Cole, Codie Sanchez, Nader Al-Naji, Steph Smith, Trung Phan, Nick Huber, Anthony Pompliano, Ben Askren, Ramon Van Meer, Brianne Kimmel, Andrew Gazdecki, Scott Belsky, Moiz Ali, Dan Held, Elaine Zelby, Michael Saylor, Ryan Begelman, Jack Butcher, Reed Duchscher, Tai Lopez, Harley Finkelstein, Alexa von Tobel, Noah Kagan, Nick Bare, Greg Isenberg, James Altucher, Randy Hetrick and more.

    Other episodes you might enjoy:

    #224 Rob Dyrdek – How Tracking Every Second of His Life Took Rob Drydek from 0 to $405M in Exits

    #209 Gary Vaynerchuk – Why NFTS Are the Future

    #178 Balaji Srinivasan – Balaji on How to Fix the Media, Cloud Cities & Crypto

    #169 – How One Man Started 5, Billion Dollar Companies, Dan Gilbert’s Empire, & Talking With Warren Buffett

    • ​​​​#218 – Why You Should Take a Think Week Like Bill Gates

    Dave Portnoy vs The World, Extreme Body Monitoring, The Future of Apparel Retail, “How Much is Anthony Pompliano Worth?”, and More

    How Mr Beast Got 100M Views in Less Than 4 Days, The $25M Chrome Extension, and More

  • How To Get Sh*t Done Without Being Busy

    Episode 569: Shaan Puri (https://twitter.com/ShaanVP) and Sam Parr (https://twitter.com/theSamParr) get into being productive without being a slave to your calendar. How to disable distractions, being effective vs being efficient, and living the unscheduled life.

    Want to see Sam and Shaan’s smiling faces? Head to the MFM YouTube Channel and subscribe – http://tinyurl.com/5n7ftsy5

    Show Notes:

    (0:00) The joy of an unscheduled life

    (01:56) Maker vs manager schedule

    (02:32) Working in intentional spaces

    (04:59) Living without a to-do list

    (05:27) Reverse engineer your ideal day

    (8:26) “Show me your calendar and I’ll show you your priorities”

    (09:19) Name your top 3 (quarterly)

    (12:56) Disable distractions

    (13:33) Be effective, not efficient

    (14:55) Do the big thing first

    (16:30) No loser works out at 7:00 am

    (17:47) The barbell strategy for building relationships

    (20:17) No as a default mode

    (21:04) Accepting the trade-offs

    Check Out Shaan’s Stuff:

    Need to hire? You should use the same service Shaan uses to hire developers, designers, & Virtual Assistants → it’s called Shepherd (tell ‘em Shaan sent you): https://bit.ly/SupportShepherd

    Check Out Sam’s Stuff:

    • Hampton – https://www.joinhampton.com/

    • Ideation Bootcamp – https://www.ideationbootcamp.co/

    • Copy That – https://copythat.com

    • Hampton Wealth Survey – https://joinhampton.com/wealth

    My First Million is a HubSpot Original Podcast // Brought to you by The HubSpot Podcast Network // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano

    Past guests on My First Million include Rob Dyrdek, Hasan Minhaj, Balaji Srinivasan, Jake Paul, Dr. Andrew Huberman, Gary Vee, Lance Armstrong, Sophia Amoruso, Ariel Helwani, Ramit Sethi, Stanley Druckenmiller, Peter Diamandis, Dharmesh Shah, Brian Halligan, Marc Lore, Jason Calacanis, Andrew Wilkinson, Julian Shapiro, Kat Cole, Codie Sanchez, Nader Al-Naji, Steph Smith, Trung Phan, Nick Huber, Anthony Pompliano, Ben Askren, Ramon Van Meer, Brianne Kimmel, Andrew Gazdecki, Scott Belsky, Moiz Ali, Dan Held, Elaine Zelby, Michael Saylor, Ryan Begelman, Jack Butcher, Reed Duchscher, Tai Lopez, Harley Finkelstein, Alexa von Tobel, Noah Kagan, Nick Bare, Greg Isenberg, James Altucher, Randy Hetrick and more.

    Other episodes you might enjoy:

    #224 Rob Dyrdek – How Tracking Every Second of His Life Took Rob Drydek from 0 to $405M in Exits

    #209 Gary Vaynerchuk – Why NFTS Are the Future

    #178 Balaji Srinivasan – Balaji on How to Fix the Media, Cloud Cities & Crypto

    #169 – How One Man Started 5, Billion Dollar Companies, Dan Gilbert’s Empire, & Talking With Warren Buffett

    • ​​​​#218 – Why You Should Take a Think Week Like Bill Gates

    Dave Portnoy vs The World, Extreme Body Monitoring, The Future of Apparel Retail, “How Much is Anthony Pompliano Worth?”, and More

    How Mr Beast Got 100M Views in Less Than 4 Days, The $25M Chrome Extension, and More

  • 3 Anti-Comfort Businesses That Are Making Millions

    Episode 568: Shaan Puri (https://twitter.com/ShaanVP) and Sam Parr (https://twitter.com/theSamParr) challenge each other to the Japanese practice of misogi, plus they’re breaking down the new economy of suffering. 

    Want to see Sam and Shaan’s smiling faces? Head to the MFM YouTube Channel and subscribe – http://tinyurl.com/5n7ftsy5

    Show Notes:

    (0:00) Intro

    (2:20) Sam challenges Shaan to a Misogi

    (5:13) The rules of Misogi

    (11:42) Shaan challenges Sam to not be bothered

    (14:04) The Speed Project

    (15:08) The Monkey Run

    (16:00) Barkley Marathon

    (18:38) Iconic branding

    (20:02) “The definition of luxury is dominating your customer”

    (21:48) Shaan’s favorite luxury brand: Harvard

    (27:16) How to put a 10% remix on an idea

    (29:09) Remixing corporate merch

    (30:50) Greg Isenberg gets a free jacket, starts a movement

    (32:58) Marissa Mayer’s hilarious launch

    (37:01) Management Time: Who’s Got the Monkey?

    (47:55) $14K Specialty beds

    Links:

    • Jesse Itzler’s Big A## Calendar – https://jesseitzler.com/products/calendar-2024

    • The Comfort Crisis – https://eastermichael.com/book/

    • Monkey Run – https://www.theadventurists.com/monkey-run/

    • The Speed Project – https://www.instagram.com/thespeedproject

    • Exporting American prestige – https://tinyurl.com/2k76ssdz

    • Marissa Mayer’s hard launch – https://twitter.com/marissamayer/status/1772664475331473680

    • “Management Time: Who’s Got The Monkey” – https://hbr.org/1999/11/management-time-whos-got-the-monkey

    • Cubby Beds – https://cubbybeds.com/

    Check Out Shaan’s Stuff:

    Need to hire? You should use the same service Shaan uses to hire developers, designers, & Virtual Assistants → it’s called Shepherd (tell ‘em Shaan sent you): https://bit.ly/SupportShepherd

    Check Out Sam’s Stuff:

    • Hampton – https://www.joinhampton.com/

    • Ideation Bootcamp – https://www.ideationbootcamp.co/

    • Copy That – https://copythat.com

    • Hampton Wealth Survey – https://joinhampton.com/wealth

    My First Million is a HubSpot Original Podcast // Brought to you by The HubSpot Podcast Network // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano

    Past guests on My First Million include Rob Dyrdek, Hasan Minhaj, Balaji Srinivasan, Jake Paul, Dr. Andrew Huberman, Gary Vee, Lance Armstrong, Sophia Amoruso, Ariel Helwani, Ramit Sethi, Stanley Druckenmiller, Peter Diamandis, Dharmesh Shah, Brian Halligan, Marc Lore, Jason Calacanis, Andrew Wilkinson, Julian Shapiro, Kat Cole, Codie Sanchez, Nader Al-Naji, Steph Smith, Trung Phan, Nick Huber, Anthony Pompliano, Ben Askren, Ramon Van Meer, Brianne Kimmel, Andrew Gazdecki, Scott Belsky, Moiz Ali, Dan Held, Elaine Zelby, Michael Saylor, Ryan Begelman, Jack Butcher, Reed Duchscher, Tai Lopez, Harley Finkelstein, Alexa von Tobel, Noah Kagan, Nick Bare, Greg Isenberg, James Altucher, Randy Hetrick and more.

    Other episodes you might enjoy:

    #224 Rob Dyrdek – How Tracking Every Second of His Life Took Rob Drydek from 0 to $405M in Exits

    #209 Gary Vaynerchuk – Why NFTS Are the Future

    #178 Balaji Srinivasan – Balaji on How to Fix the Media, Cloud Cities & Crypto

    #169 – How One Man Started 5, Billion Dollar Companies, Dan Gilbert’s Empire, & Talking With Warren Buffett

    • ​​​​#218 – Why You Should Take a Think Week Like Bill Gates

    Dave Portnoy vs The World, Extreme Body Monitoring, The Future of Apparel Retail, “How Much is Anthony Pompliano Worth?”, and More

    How Mr Beast Got 100M Views in Less Than 4 Days, The $25M Chrome Extension, and More

  • The Man Who Owns 1% Of ALL Bitcoin

    Episode 567: Shaan Puri (https://twitter.com/ShaanVP) and Sam Parr (https://twitter.com/theSamParr) talk to Anthony Pompliano ( https://twitter.com/apompliano ) about Michael Saylor’s $900M bet on Bitcoin, invisible blue-collar businesses he’s buying, plus 10 tech startups that could 10x your income and your reputation. 

    Want to see Sam and Shaan’s smiling faces? Head to the MFM YouTube Channel and subscribe – http://tinyurl.com/5n7ftsy5

    Listen to the first episode of MoneyWise here – https://tinyurl.com/7m5ff3rt

    Show Notes:

    (0:00) Intro

    (00:25) Bitcoin going up?

    (5:26) Michael Saylor’s bet-the-company, burn-the-boats strategy

    (14:18) Pomp’s take: genius or insane?

    (16:42)Product manager to people manager to money manager

    (20:35) Pomp’s weird side businesses

    (28:51) The truth about buying blue-collar businesses

    (30:01) You can’t put rocket fuel in a car

    (35:06) The prolific ownership of Philip Anschutz

    (36:35) Pomp’s List: Startups You Should Work For

    (38:58) 10X reputation: Anduril or OpenAI

    (43:37) Shaan interviews at Facebook

    (50:35) 10X Potential: Eight Sleep, Varda, Figure.ai, Traba, Placer.ai, Rainmaker, Galvanick

    (1:04:45) How Pomp thinks about trade positions

    (1:10:28) A simple thesis on Solana

    (1:11:22) Being early on Andrew Tate

    Links:

    • MicroStrategy – https://www.microstrategy.com/

    • Out Where The West Begins – https://tinyurl.com/4v5mc8y5

    • Figure – http://figure.ai/

    • Eight Sleep – https://www.eightsleep.com

    • Varda – https://www.varda.com/

    • Traba – https://traba.work/

    • Placer – https://www.placer.ai/

    • Rainmaker – https://www.makerain.com/

    • Galvanick – https://www.galvanick.com/

    Check Out Shaan’s Stuff:

    Need to hire? You should use the same service Shaan uses to hire developers, designers, & Virtual Assistants → it’s called Shepherd (tell ‘em Shaan sent you): https://bit.ly/SupportShepherd

    Check Out Sam’s Stuff:

    • Hampton – https://www.joinhampton.com/

    • Ideation Bootcamp – https://www.ideationbootcamp.co/

    • Copy That – https://copythat.com

    • Hampton Wealth Survey – https://joinhampton.com/wealth

    My First Million is a HubSpot Original Podcast // Brought to you by The HubSpot Podcast Network // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano

    Past guests on My First Million include Rob Dyrdek, Hasan Minhaj, Balaji Srinivasan, Jake Paul, Dr. Andrew Huberman, Gary Vee, Lance Armstrong, Sophia Amoruso, Ariel Helwani, Ramit Sethi, Stanley Druckenmiller, Peter Diamandis, Dharmesh Shah, Brian Halligan, Marc Lore, Jason Calacanis, Andrew Wilkinson, Julian Shapiro, Kat Cole, Codie Sanchez, Nader Al-Naji, Steph Smith, Trung Phan, Nick Huber, Anthony Pompliano, Ben Askren, Ramon Van Meer, Brianne Kimmel, Andrew Gazdecki, Scott Belsky, Moiz Ali, Dan Held, Elaine Zelby, Michael Saylor, Ryan Begelman, Jack Butcher, Reed Duchscher, Tai Lopez, Harley Finkelstein, Alexa von Tobel, Noah Kagan, Nick Bare, Greg Isenberg, James Altucher, Randy Hetrick and more.

    Other episodes you might enjoy:

    #224 Rob Dyrdek – How Tracking Every Second of His Life Took Rob Drydek from 0 to $405M in Exits

    #209 Gary Vaynerchuk – Why NFTS Are the Future

    #178 Balaji Srinivasan – Balaji on How to Fix the Media, Cloud Cities & Crypto

    #169 – How One Man Started 5, Billion Dollar Companies, Dan Gilbert’s Empire, & Talking With Warren Buffett

    • ​​​​#218 – Why You Should Take a Think Week Like Bill Gates

    Dave Portnoy vs The World, Extreme Body Monitoring, The Future of Apparel Retail, “How Much is Anthony Pompliano Worth?”, and More

    How Mr Beast Got 100M Views in Less Than 4 Days, The $25M Chrome Extension, and More

  • It’s The Most Taboo Business Model We’ve Ever Seen

    Episode 566: Shaan Puri (https://twitter.com/ShaanVP) and Sam Parr (https://twitter.com/theSamParr) bring you the most taboo business model they’ve ever seen–plus the content funnel making this momfluencer $10M/yr. 

    Want to see Sam and Shaan’s smiling faces? Head to the MFM YouTube Channel and subscribe – http://tinyurl.com/5n7ftsy5

    Access Hampton’s “2023 Ecommerce Analysis: People, Profits, and Projections” here – http://joinhampton.com/ecom

    Show Notes:

    (0:00) Sam and Shaan have “the talk”

    (2:50) Free egg freezing. Really?

    (8:37) Assessing the regret score of your life decisions

    (10:20) Economics of revenue per employee for ecomm

    (13:38) The content funnel of Dr. Becky

    (21:34) How momfluencers build trust

    (25:00) Strategic relatability, beautifully done

    (29:45) Genius marketing antics of Mini Katana

    (33:55) $1b dollar business plan: Freeze-dried candy

    (35:17) Hormozi’s best advice – Find the 10/10 opportunity

    (38:10) The function of quitting

    Links:

    • Cofertility – https://www.cofertility.com/

    • Good Inside – https://www.goodinside.com/

    • Dr. Becky on Instagram – https://www.instagram.com/drbeckyatgoodinside

    • Big Little Feelings – https://biglittlefeelings.com/

    • V Shred – https://vshred.com/

    • Miss Excel – https://www.miss-excel.com/

    • Kinobody – https://www.facebook.com/kinobodyfitness

    Check Out Sam’s Stuff:

    • Hampton – https://www.joinhampton.com/

    • Ideation Bootcamp – https://www.ideationbootcamp.co/

    • Copy That – https://copythat.com

    • Hampton Wealth Survey – https://joinhampton.com/wealth

    Check Out Shaan’s Stuff:

    Need to hire? You should use the same service Shaan uses to hire developers, designers, & Virtual Assistants → it’s called Shepherd (tell ‘em Shaan sent you): https://bit.ly/SupportShepherd

    My First Million is a HubSpot Original Podcast // Brought to you by The HubSpot Podcast Network // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano

    Past guests on My First Million include Rob Dyrdek, Hasan Minhaj, Balaji Srinivasan, Jake Paul, Dr. Andrew Huberman, Gary Vee, Lance Armstrong, Sophia Amoruso, Ariel Helwani, Ramit Sethi, Stanley Druckenmiller, Peter Diamandis, Dharmesh Shah, Brian Halligan, Marc Lore, Jason Calacanis, Andrew Wilkinson, Julian Shapiro, Kat Cole, Codie Sanchez, Nader Al-Naji, Steph Smith, Trung Phan, Nick Huber, Anthony Pompliano, Ben Askren, Ramon Van Meer, Brianne Kimmel, Andrew Gazdecki, Scott Belsky, Moiz Ali, Dan Held, Elaine Zelby, Michael Saylor, Ryan Begelman, Jack Butcher, Reed Duchscher, Tai Lopez, Harley Finkelstein, Alexa von Tobel, Noah Kagan, Nick Bare, Greg Isenberg, James Altucher, Randy Hetrick and more.

    Other episodes you might enjoy:

    #224 Rob Dyrdek – How Tracking Every Second of His Life Took Rob Drydek from 0 to $405M in Exits

    #209 Gary Vaynerchuk – Why NFTS Are the Future

    #178 Balaji Srinivasan – Balaji on How to Fix the Media, Cloud Cities & Crypto

    #169 – How One Man Started 5, Billion Dollar Companies, Dan Gilbert’s Empire, & Talking With Warren Buffett

    • ​​​​#218 – Why You Should Take a Think Week Like Bill Gates

    Dave Portnoy vs The World, Extreme Body Monitoring, The Future of Apparel Retail, “How Much is Anthony Pompliano Worth?”, and More

    How Mr Beast Got 100M Views in Less Than 4 Days, The $25M Chrome Extension, and More

  • The Underdog Story of Reddit

    Episode 565: Shaan Puri (https://twitter.com/ShaanVP) and Sam Parr (https://twitter.com/theSamParr) are dropping an emergency pod to break down Paul Graham’s essay about Reddit’s IPO yesterday. 

    Want to see Sam and Shaan’s smiling faces? Head to the MFM YouTube Channel and subscribe – http://tinyurl.com/5n7ftsy5

    Show Notes:

    (0:00) Intro

    (1:59) If you want to learn, teach. 

    (3:45) Show up – the ultimate high agency move

    (5:54) Trust your gut

    (7:47) How to get the best ideas

    (12:30) Don’t be precious about the name

    (13:33) How Reddit faked early traction

    (16:45) Talent filters

    (19:37) “The best products are you pushed out”

    (23:42) We read Chris Saccsa’s early emails

    (26:32) Reddit’s exits to Conde Nast, then buys it back

    (29:20) 19 years later and still not profitable 

    Links:

    • Y Combinator – https://www.ycombinator.com/

    • Reddit – https://www.reddit.com/

    • Paul Graham Essays – https://paulgraham.com/articles.html

    • Product Hunt – https://www.producthunt.com/

    Check Out Shaan’s Stuff:

    Need to hire? You should use the same service Shaan uses to hire developers, designers, & Virtual Assistants → it’s called Shepherd (tell ‘em Shaan sent you): https://bit.ly/SupportShepherd

    Check Out Sam’s Stuff:

    • Hampton – https://www.joinhampton.com/

    • Ideation Bootcamp – https://www.ideationbootcamp.co/

    • Copy That – https://copythat.com

    • Hampton Wealth Survey – https://joinhampton.com/wealth

    My First Million is a HubSpot Original Podcast // Brought to you by The HubSpot Podcast Network // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano

    Past guests on My First Million include Rob Dyrdek, Hasan Minhaj, Balaji Srinivasan, Jake Paul, Dr. Andrew Huberman, Gary Vee, Lance Armstrong, Sophia Amoruso, Ariel Helwani, Ramit Sethi, Stanley Druckenmiller, Peter Diamandis, Dharmesh Shah, Brian Halligan, Marc Lore, Jason Calacanis, Andrew Wilkinson, Julian Shapiro, Kat Cole, Codie Sanchez, Nader Al-Naji, Steph Smith, Trung Phan, Nick Huber, Anthony Pompliano, Ben Askren, Ramon Van Meer, Brianne Kimmel, Andrew Gazdecki, Scott Belsky, Moiz Ali, Dan Held, Elaine Zelby, Michael Saylor, Ryan Begelman, Jack Butcher, Reed Duchscher, Tai Lopez, Harley Finkelstein, Alexa von Tobel, Noah Kagan, Nick Bare, Greg Isenberg, James Altucher, Randy Hetrick and more.

    Other episodes you might enjoy:

    #224 Rob Dyrdek – How Tracking Every Second of His Life Took Rob Drydek from 0 to $405M in Exits

    #209 Gary Vaynerchuk – Why NFTS Are the Future

    #178 Balaji Srinivasan – Balaji on How to Fix the Media, Cloud Cities & Crypto

    #169 – How One Man Started 5, Billion Dollar Companies, Dan Gilbert’s Empire, & Talking With Warren Buffett

    • ​​​​#218 – Why You Should Take a Think Week Like Bill Gates

    Dave Portnoy vs The World, Extreme Body Monitoring, The Future of Apparel Retail, “How Much is Anthony Pompliano Worth?”, and More

    How Mr Beast Got 100M Views in Less Than 4 Days, The $25M Chrome Extension, and More