AI transcript
0:00:02 All right, I’ve got a thing I want to fill you in on.
0:00:04 And this is something I’ve been thinking about lately.
0:00:06 And I think that you actually you’re
0:00:09 going to bring more application to this topic than I am.
0:00:11 And so it’s my theory, but I want to hear
0:00:13 how you would apply this idea that I have.
0:00:15 All right, hit me.
0:00:17 So did you see that blonde hair woman?
0:00:20 She had that song that was like looking for a man in finance.
0:00:21 Six, four, whatever.
0:00:23 Yeah, what was it?
0:00:24 What was it?
0:00:24 Blast for me.
0:00:26 Six, five, bro.
0:00:27 Six, five is finance.
0:00:29 Six, five, six, five.
0:00:30 Blue eyes or whatever.
0:00:32 Dude, have I seen that?
0:00:34 Has there been 10 minutes in my house
0:00:37 where either me or my daughter is not singing that song?
0:00:38 My four-year-old daughter, by the way,
0:00:40 hits very different when your daughter says it.
0:00:41 My dad hormones kicked in.
0:00:43 And I was like, you ain’t looking for.
0:00:43 What are you looking for?
0:00:45 You’re looking for your Barbie, your toys.
0:00:47 You’re looking for Legos is what you’re looking for.
0:00:49 I feel like I can rule the world.
0:00:53 I know I could be what I want to put my all in it
0:00:55 like no days off on the road.
0:00:57 There was really funny follow-ups where people are like,
0:00:59 let’s do the math on that, by the way.
0:01:01 How many men are six, five?
0:01:03 It’s like 0.1%.
0:01:04 How many people live in New York City?
0:01:06 How many have a trust fund?
0:01:08 And it was like, you know, and they’re single.
0:01:08 It was like–
0:01:10 There was like seven guys left.
0:01:11 Yeah, yeah, it’s pretty funny.
0:01:13 But that got me thinking.
0:01:15 And before I tell you exactly what it is,
0:01:16 I have to ask you a question.
0:01:20 Do you know your mother’s or father’s cell phone
0:01:21 number by heart?
0:01:23 I do not.
0:01:25 So for the life of me, I couldn’t tell you
0:01:26 my wife’s phone number.
0:01:28 I could tell you the area code, but I couldn’t tell you
0:01:30 her number, which is like a big deal.
0:01:35 However, how many commercials from the ’90s do you remember?
0:01:37 I want my baby back, baby back, baby back.
0:01:38 I want my baby back.
0:01:40 Yeah, or a hot pocket.
0:01:42 Like, you remember some of these songs?
0:01:44 $5, $5.
0:01:46 We know what comes after that.
0:01:48 I don’t even have to have known you, right?
0:01:50 You could be a complete stranger, but if I’m like $5,
0:01:53 $5, the guy’s going to stay foot long at the end of that.
0:01:56 So I got really interested in jingles.
0:01:57 Because I don’t remember my wife’s phone number.
0:01:59 You don’t remember your parents’ phone numbers,
0:02:01 but I can cite all these jingles.
0:02:04 In fact, I follow Instagram accounts
0:02:06 where it’s like commercials from the ’90s.
0:02:08 The ’90s, because that’s when we were kids,
0:02:11 and for a lot of listeners, that was the heyday
0:02:14 of these jingles and commercials.
0:02:17 And in my opinion, we need to bring that back.
0:02:19 And I want to tell you, I’ll give you a little bit,
0:02:21 a short history of jingles.
0:02:24 All right, I want to tell you about a really cool feature
0:02:26 in HubSpot that I don’t think most people know about.
0:02:29 It’s called the marketing and content hub.
0:02:30 All right, so here’s how it works.
0:02:32 You’re doing content marketing.
0:02:33 That’s what I do.
0:02:34 That’s what many brands do.
0:02:35 It works really, really well,
0:02:36 but it can be very time consuming.
0:02:38 So what they do is they have tools like Content Remix,
0:02:40 which will take one piece of content
0:02:42 and immediately turn it into a bunch of pieces
0:02:44 for all the different platforms in one click.
0:02:46 Or they have LeadSquaring,
0:02:47 which will basically shine a light on
0:02:50 which leads that you have, or most likely to purchase.
0:02:51 And then they have the analytics suite.
0:02:53 So you get reports, KPIs,
0:02:55 and all kinds of AI-powered insights
0:02:56 that you can share with your team
0:02:57 and not be flying blind anymore.
0:02:59 So if you’re doing content marketing,
0:03:00 highly recommend you check out
0:03:02 the Content Hub and Marketing Hub for HubSpot.
0:03:06 You can visit hubspot.com to get started for free.
0:03:07 Back to this episode.
0:03:11 So in the ’90s, something like 15% of commercials
0:03:12 had jingles.
0:03:15 Now it’s closer to 1%.
0:03:17 So in the ’20s, this company called General Mills
0:03:20 came out with this thing called Weedies, Weedies Serial.
0:03:22 And it wasn’t that big of a hit early on.
0:03:24 And so they were like, “Let’s write a song about it,
0:03:25 and we’re gonna create a commercial
0:03:27 on the radio for Weedies.”
0:03:29 And it’s the first time that there was ever
0:03:31 a dedicated commercial for a product.
0:03:34 And the Weedies wasn’t really doing that well
0:03:35 for the first three or four years.
0:03:37 That song comes out in year five or so.
0:03:38 It takes off.
0:03:41 And now Weedies is like a huge brand that we all know.
0:03:44 And I think that we need to do more of that.
0:03:46 In the ’90s, it kind of kicked ass
0:03:48 because when we were kids, there was what?
0:03:49 Like 50 or 60 channels.
0:03:50 So there was less channels.
0:03:53 And the key to a jingle sticking
0:03:54 and like something to remember
0:03:57 is you need to hear tons and tons of times.
0:03:59 So when the Weedies commercial came out,
0:04:01 they ended up playing this song,
0:04:03 something like 300 times a day
0:04:05 on a variety of radio stations.
0:04:07 And back then there weren’t actually that many radio stations.
0:04:09 And so repetition is important.
0:04:12 However, once YouTube, Facebook, whatever it came about,
0:04:14 we have so many different channels.
0:04:17 However, when you run Facebook ads,
0:04:21 you can increase the repetition,
0:04:22 the frequency, I think they call it, right?
0:04:23 You can increase frequency.
0:04:24 And so you can see like,
0:04:28 am I hitting the same person 20, 30, 50 times?
0:04:30 A lot of times with ads, it’s just a photo, right?
0:04:32 It’s usually a photo for like,
0:04:33 there’s little silly trends.
0:04:37 Like for a long time it was pointing an arrow at something
0:04:40 or zoom in on someone’s face.
0:04:41 There’s like little silly trends
0:04:43 that you’ll see one successful brand do, everyone copies them.
0:04:46 – Yeah, one we had was we would write the ad
0:04:48 in the Notes app on iPhone, take a screenshot of that.
0:04:50 So it looked like someone was sharing a screenshot from Notes,
0:04:52 but it was actually just an ad.
0:04:56 – Yes, and I remember reading or seeing this short video,
0:04:58 it was launched at Sundance actually,
0:05:02 it was like a feature in 2016, maybe you saw this,
0:05:04 but it was about people who have Alzheimer’s
0:05:05 and they were like really bad, you know,
0:05:07 they’re elderly of Alzheimer’s
0:05:09 and they were just out of it all the time.
0:05:12 And so these doctors played music
0:05:14 that the people would have listened to
0:05:16 when they were in their 20s and 30s,
0:05:17 and all of a sudden it clicks
0:05:18 and they start singing the song.
0:05:20 And they’re like, oh, I remember this song,
0:05:23 I was in the army doing this or whatever.
0:05:25 And that’s when I met my wife and then they like have
0:05:27 the next three, four, five minutes
0:05:29 that are like speaking normal.
0:05:33 And it kind of like made me realize music is really important
0:05:33 for that reason,
0:05:36 but particularly for advertising brands and products.
0:05:38 And I’ve been trying to think about
0:05:41 what does a jingle have that makes it work?
0:05:43 And so I have it down to a few things.
0:05:46 And this is a little bit for the modern day jingle,
0:05:47 what it needs.
0:05:49 The first thing that I think it needs
0:05:51 is it needs a little bit of cringiness.
0:05:54 I think with ads, we be like, this needs to be cool.
0:05:56 Like it needs to be a little bit overly cringe.
0:05:58 That’s the second thing that you have to have
0:06:00 is it has to be incredibly repetitive.
0:06:02 For example, do you remember that song?
0:06:04 Don’t you wanna Fanta Fanta?
0:06:07 Don’t you wanna, like you need to say the brand
0:06:08 many, many, many times.
0:06:09 – Like Chiquita Banana.
0:06:12 – Yeah, so the Chiquita Banana ad is actually interesting.
0:06:15 So that ad, it was like a sexy banana dressed up
0:06:17 as like a Cuban lady dancer.
0:06:19 And she was like singing and dancing.
0:06:21 And it was all about when do you know a banana
0:06:22 is ready to eat.
0:06:24 And so she was singing about like you can,
0:06:27 you should peel me back when you see a little bit of brown,
0:06:28 like whatever.
0:06:31 It was kind of like sexualized and awesome.
0:06:34 And that ad would play hundreds of times a day.
0:06:34 It was awesome.
0:06:36 I love what people sexualized stuff, by the way.
0:06:39 My friend Neville had an ad for why you should buy
0:06:40 this set of font from him.
0:06:44 And he was like, when I whisper Geranda,
0:06:46 does it make you weak in the knees?
0:06:48 If so, this is for you.
0:06:49 And so I love when they do that.
0:06:51 And then the last thing you need is a call to action.
0:06:53 So do you remember this song where it’s like,
0:06:57 call J.G. Wetworth, eight, seven, seven cash now?
0:06:58 Do you remember that song?
0:06:59 – Yeah, you can remember full phone numbers
0:07:02 when it comes to a jingle, right?
0:07:03 You started this by saying,
0:07:06 can’t remember your wife or your mom’s number.
0:07:08 But we can remember some company’s phone number,
0:07:11 1-800, whatever, if they put it in a jingle.
0:07:13 – And so this whole kind of rant is,
0:07:14 I think we need to bring them back.
0:07:16 Now the problem is, is that I don’t exactly have
0:07:18 like a consumer brain to do this on.
0:07:21 You do, and you work a little bit more consumer stuff.
0:07:24 – Why can’t you do this for Hampton, by the way?
0:07:25 – I could, and I should.
0:07:27 So that was a bullshit excuse.
0:07:28 – Yeah, thank you.
0:07:31 – Do you see this working with your stuff in consumer?
0:07:35 – Well, I would say in theory, I’m all there with you.
0:07:39 As in a jingle’s work is a non-debatable statement.
0:07:41 Would jingles work for my brand?
0:07:41 Well, why not?
0:07:44 Jingles work, so we’re back to swear one.
0:07:45 Do jingles still work?
0:07:47 Yeah, I’m pretty sure it still works.
0:07:49 I think you might have to tweak the form factor,
0:07:50 maybe make it a little shorter or whatever.
0:07:53 You know, like McDonald’s, like what they do now
0:07:54 is they have their whole commercial
0:07:56 and then it’s ba-da-ba-ba-ba, I’m loving it, right?
0:07:58 Just they just hit that at the end
0:08:00 as like a little five second hook at the end,
0:08:03 which was shorter than maybe how jingles used to be
0:08:05 where it was much more of the whole commercial.
0:08:07 So I think there’s maybe some tweaks
0:08:08 that people are doing to them,
0:08:11 but they for sure still work, so I’m with you.
0:08:13 And I’m also with you that I’m surprised
0:08:16 that they’ve declined because the brain has not changed.
0:08:19 In fact, there’s a thing I think people call
0:08:21 the phonic loop or something like the phonetic loop.
0:08:22 I forgot how they probably,
0:08:25 but it’s like the people who study the brain and the ear
0:08:26 and there’s like neurologists.
0:08:28 There’s even somebody called like a musicologist.
0:08:29 They basically try to figure out
0:08:32 why is it that when we teach kids
0:08:35 that they learn easier through nursery rhymes.
0:08:36 – Yeah, there’s like a nursery rhyme
0:08:38 to like learn your home address.
0:08:39 Like, have you ever seen those?
0:08:43 – Dude, I can tell you Caracas, Venezuela, Lima, Peru, right?
0:08:46 I can tell you like the capitals of South America
0:08:49 that I haven’t thought about in 30 years,
0:08:50 but when I was six years old,
0:08:52 some teacher taught us the song, right?
0:08:54 Or all of the states, right?
0:08:55 I could teach my daughter the states
0:08:58 much faster than I could teach her numbers
0:09:00 because I could turn it into a song.
0:09:02 And so there’s something in this, right?
0:09:04 And I think they call it earworms.
0:09:06 It’s basically what they call it
0:09:09 when a small repetitive snippet of a song
0:09:12 or a slogan or a jingle just gets stuck in your ear, right?
0:09:14 And that’s called an earworm.
0:09:19 And so using this to improve recall, improve memory,
0:09:22 and even make your brand associated with something
0:09:26 that’s kind of fun or upbeat or positive,
0:09:28 definitely has value.
0:09:29 Now, the question is why don’t I or you
0:09:32 or any of us kind of modern marketers use this?
0:09:34 And I think really most people would say,
0:09:37 well, it doesn’t work anymore, the form factor change,
0:09:38 people got over it.
0:09:39 Well, well, I don’t think any of that’s true.
0:09:41 I think it’s just like fashion.
0:09:42 I think it’s marketing fashion trends.
0:09:44 I think it’s out of vogue right now.
0:09:46 And as soon as somebody brings it back in,
0:09:48 it will become a thing again.
0:09:49 – Remember Dat Piff?
0:09:52 That was where like mix tapes were, it was like rappers.
0:09:54 So this was, it was like a little Wayne
0:09:57 would put out like a rap a day on Dat Piff.
0:09:59 And he would just turn these suckers out.
0:10:02 I think you need a certain creative type of person
0:10:03 to be able to do this.
0:10:05 But we can definitely churn these out
0:10:08 in a relatively fast way and see what works,
0:10:10 which is different than a commercial.
0:10:13 But one of the reasons why I think it went a ways,
0:10:14 so the things that you and I liked
0:10:15 when we were nine or eight years old,
0:10:18 by the time we’re 15 to 25, that’s like, that’s lame.
0:10:19 That’s no longer cool.
0:10:20 But then we get in our 30s and we’re like,
0:10:21 oh, I remember that, that was awesome.
0:10:22 You know, that was so cool.
0:10:24 Like it’s kind of like the feeling that you get
0:10:27 when you see a surge, like a surge drink, like a soda.
0:10:29 You’re like, oh, I remember that, that was so awesome.
0:10:31 I remember that as a kid and you get like this nostalgia.
0:10:33 And so I think what we can do
0:10:36 is look at all of the past things that worked well
0:10:38 with the brands that we liked when we were younger.
0:10:42 I really think you can replicate them within like the law
0:10:44 and actually not copy.
0:10:46 And the reason I think that is because
0:10:49 the $5 foot long song and McDonald’s songs,
0:10:49 they’re coming back.
0:10:52 And so they’re reusing a lot of these songs now
0:10:54 because once your customer base is a bit older,
0:10:57 you can reuse the same stuff and it becomes cool again
0:10:57 because it’s nostalgic.
0:11:01 ♪ Ba-ba-ba, I’m subscribed to my first million on YouTube. ♪
0:11:02 There we go.
0:11:03 Well, we can workshop that.
0:11:07 If you want your ad to be memorable, which we all do,
0:11:09 then using one of the most sticky things,
0:11:11 which is like a jingle,
0:11:14 it compresses several things together, right?
0:11:17 A feeling, a positioning, right?
0:11:20 $5 foot long nationwide is on your side, right?
0:11:24 Like it compresses a position plus a feeling
0:11:27 into four seconds, five seconds, seven seconds.
0:11:31 And in a package that is now easily transmissible, right?
0:11:32 You can sing it, you can hum it,
0:11:34 you can tell it to another person,
0:11:36 as well as sticks with you.
0:11:39 So like, of course that’s a good thing if you can do it.
0:11:40 I got something that’s kind of interesting,
0:11:42 totally different angle, but I think you’ll like it.
0:11:44 Are you familiar with Polymarket?
0:11:46 – Is it gambling for crypto?
0:11:47 – Well, that’s one we’ve been looking at it.
0:11:49 It’s a prediction market, which is-
0:11:50 – Yeah, yeah, yeah.
0:11:52 – Sort of an A.O. LeBanay’s situation with gambling
0:11:55 and reframing gambling,
0:12:00 but it actually is a way to go bet on a prediction
0:12:02 that you believe will happen.
0:12:03 So if I go to Polymarket right now,
0:12:08 I’ll see the top bet, $237 million has been bet on
0:12:12 who will be the winner of the 2024 presidential race.
0:12:17 And right now, Trump is a 61% bet, Joe Biden, 19% in odds,
0:12:20 Kamala is 10%, et cetera.
0:12:23 And so you could see for any idea you have
0:12:27 that there could be a betting market for it.
0:12:28 So you can go to sports,
0:12:31 and right now the Euro soccer cup is happening right now,
0:12:34 and Spain is the top favorite bet with 34%,
0:12:36 or you can bet on Wimbledon right now.
0:12:39 But you can also bet in scientific things,
0:12:41 like there’s a bet right now,
0:12:44 what will be the June 2024 temperature increase?
0:12:47 And it’s like, more than 1.09, less than 1.09,
0:12:49 you can bet on will this hurricane
0:12:51 hit the United States, yes or no?
0:12:53 And right now that bet has played out
0:12:54 where if you click it,
0:12:56 you can see that when it started,
0:12:58 it only had the 18% chance of yes.
0:12:59 Right now it’s a 99% chance,
0:13:02 which means it’s about to hit or almost certainly hit.
0:13:04 So that bet has played out or playing out right now.
0:13:06 – And you could see the top betters.
0:13:09 So there’s a guy named Revenge Tour 1984,
0:13:12 who’s bet $2.3 million this week.
0:13:17 – No, I don’t know if it’s that week, I think it’s his–
0:13:19 – It says top volume this week.
0:13:20 – Okay, maybe it is.
0:13:21 If you go to his profile,
0:13:24 so he’s the top better on the platform right now.
0:13:29 So he’s got 1.6 million in bets placed basically,
0:13:32 his positions that are out there.
0:13:34 He’s got a P&L where his profit and loss
0:13:38 is he’s up about a million dollars so far on Polymarket.
0:13:43 And he’s traded $169 million worth of bets.
0:13:45 So like right now, for example, he’s got a bet out,
0:13:50 will JD Vance win the 2024 Republican VP nomination?
0:13:51 He bet it when it was at six cents.
0:13:52 It’s currently at 31 cents.
0:13:54 He could just sell that position today
0:13:58 and bank the profit even though it hasn’t happened yet.
0:13:59 So you can win even if your thing doesn’t win
0:14:01 as long as the odds go up.
0:14:03 So a couple of years ago, I got on Polymarket
0:14:05 and I got really addicted to this thing.
0:14:08 Every day I was going and I basically had like
0:14:11 a $10,000/fund that I was just betting on Polymarket.
0:14:14 And I think I ended up making five or six grand
0:14:16 and then I cashed out because now you can’t do it
0:14:19 in the United States, they like ruled against it basically.
0:14:23 So all of this volume, they’re doing about 50 million
0:14:26 a month in volume, which is huge.
0:14:28 Probably the most popular crypto app right now
0:14:30 is Polymarket.
0:14:33 And so they’ve done 400 million this year
0:14:33 in betting volume.
0:14:35 So they’re on pace for almost a billion dollars
0:14:37 of betting volume this year.
0:14:38 – What did you bet on?
0:14:39 – I used to bet on all kinds of things.
0:14:41 So I would bet on like tech stuff.
0:14:44 So you could bet like will Tesla stock be above this price
0:14:45 until July 31st?
0:14:47 It’s like easier than buying the stock
0:14:49 was just to go and bet, do you think it’ll be here?
0:14:52 Or will they announce this at this time?
0:14:54 I was betting on sports stuff.
0:14:55 So I would bet just like a game.
0:14:56 There’s a game on a Tuesday night
0:14:59 and I could just bet here easier than I could bet
0:15:00 at a sports book.
0:15:02 ‘Cause the way this thing worked was you would just sign in
0:15:03 with your MetaMask wallet.
0:15:04 You didn’t have to do KYC.
0:15:05 You didn’t have to do a bunch of things.
0:15:06 – Who makes the odds?
0:15:08 – There’s no odds makers.
0:15:11 So this is like a, what’s called a automated market maker.
0:15:14 So basically the bet gets created.
0:15:18 And then it’s based on the betting volume.
0:15:19 So if more people start betting no,
0:15:21 then the odds of no go down
0:15:22 because that’s a more popular bet.
0:15:24 If everybody thinks yes,
0:15:26 then buying yes will have less upside for you.
0:15:28 Most of these don’t work like an order book.
0:15:29 There’s not a buyer and seller.
0:15:33 It’s the same way that a lot of the Dex’s work
0:15:37 or the NFT platforms work where it’s an AMM.
0:15:38 – A lot of the bets are weird.
0:15:43 So will Taylor Swift be pregnant in 2024?
0:15:44 – Yeah, 30% chance, right?
0:15:45 Or something like that?
0:15:46 – 21% chance.
0:15:48 – Will Andrew Tate be found guilty
0:15:50 of human trafficking in 2024?
0:15:51 But then there’s weird things.
0:15:54 Like will Trump say the word MAG in 2024?
0:15:56 I don’t know what that word is, MOG.
0:16:00 But can’t he just say that then and win the bet?
0:16:03 – So that’s one of the controversies of betting markets
0:16:06 is that, okay, the easy example is,
0:16:08 oh wow, if I’m Trump,
0:16:10 I could theoretically go place a big bet
0:16:12 and then just say the word.
0:16:14 But there’s a couple of problems with that.
0:16:16 One, the more, like let’s say something like that,
0:16:17 it probably has very thin volume.
0:16:19 So for example, right now–
0:16:20 – It’s $24,000.
0:16:21 – Yeah, $24,000.
0:16:23 So if he went and tried to bet $100,000,
0:16:25 he would swing the odds himself to yes
0:16:27 to the point where it wouldn’t really be worth it.
0:16:29 There’s not much action on the other side.
0:16:32 So basically the yeses win the money from the noes.
0:16:33 And the noes win the money from the yeses
0:16:34 depending on how the bet plays out, right?
0:16:37 There’s no third party that’s involved.
0:16:40 So you would have to do it in one of these
0:16:42 that has like really big volume
0:16:44 if you wanted to make a lot of money.
0:16:47 It says, will Travis Kelsey go for ring number four
0:16:49 and get engaged this year?
0:16:50 – Yeah, exactly.
0:16:51 There’s Elon tweets.
0:16:53 How many tweets will we have this month?
0:16:56 There’s, will TikTok get banned in the US in 2024?
0:16:58 Right now, only 8% chance.
0:16:59 So if you thought that TikTok was gonna get banned,
0:17:02 if you’re Pelosi, you could go and start betting yes,
0:17:04 but that bet only has 29,000 of volume.
0:17:05 So you can’t bet too much.
0:17:08 You can’t make too much of a profit on something like that.
0:17:10 The controversy, the thing that people have always said
0:17:11 about prediction markets,
0:17:14 is that prediction markets become assassination markets.
0:17:16 Meaning, if there was a bet that like,
0:17:19 will this person win or will this person live?
0:17:21 And let’s say there was hundreds of millions of dollars
0:17:24 on the line, you’ve inadvertently created a giant bounty
0:17:26 to go and assassinate somebody.
0:17:28 And this is one of the controversies
0:17:30 around prediction markets,
0:17:34 is that it could become problematic in that way.
0:17:35 But these are not new.
0:17:38 Like crypto is a new way of doing it,
0:17:40 but these have been around for a long time.
0:17:44 Like historically, people felt that prediction markets
0:17:47 were more accurate than polls, right?
0:17:49 So let’s say you wanted to say,
0:17:50 who’s gonna win the election?
0:17:53 They would go do a poll, you have a very small sample size.
0:17:55 People might say one thing and then do another,
0:17:59 which is like what happened when Trump won, I think 2016,
0:18:03 was he was polling far less than what actually happened
0:18:04 when people went to the ballot booth
0:18:07 because they didn’t wanna admit where they stood.
0:18:08 Whereas prediction markets,
0:18:10 because you’re putting money on the line,
0:18:11 it’s just more predictive,
0:18:14 it’s more accurate versus just general polling.
0:18:17 And so this used to be a really popular thing.
0:18:19 There was in fact, even like on the stock market,
0:18:20 you could go and bet this way.
0:18:24 Wall Street was like a hub for prediction bets.
0:18:26 But then after World War II,
0:18:28 there was kind of a social stigma around it.
0:18:32 Newspaper stopped quoting it and they shifted to polls.
0:18:34 But I think it’s swinging back
0:18:35 where we’re gonna go away from polls
0:18:36 and back to prediction markets.
0:18:38 And so my prediction of this whole thing
0:18:42 is that polly market is gonna be massive
0:18:45 that in this presidential election,
0:18:47 it’s gonna have just like a huge run up this year
0:18:50 because already you can see that whenever,
0:18:53 when anybody is writing about the odds of something about,
0:18:54 let’s say the election,
0:18:56 they’re referencing polly market
0:18:58 and they’re embedding polly market in their articles.
0:19:00 – They’re doing that now or you think they will.
0:19:01 – It’s already happening.
0:19:02 It’s already happening.
0:19:03 It’s why it’s got this huge surge.
0:19:04 I think a couple of months ago,
0:19:06 they had over a hundred million embedding volume.
0:19:09 And it was because it’s made for TV.
0:19:12 It’s made to be embedded in articles.
0:19:14 And in fact, I think they should take this further
0:19:17 and make their little bedding widget
0:19:19 much easier to share and much easier to embed
0:19:21 inside of articles, inside of news things.
0:19:23 So they’re gonna need to quote
0:19:25 what the predictions are around,
0:19:28 interest rates around presidential stuff.
0:19:29 It’s just gonna continue to grow that way.
0:19:31 And so I think polly market is actually
0:19:33 sort of a media company, a decentralized media company
0:19:36 where it has really interesting data
0:19:39 that every other media company is gonna wanna reference
0:19:41 and that’s gonna just drive this surge.
0:19:43 And they’ve also had just really viral bets.
0:19:45 So right now, one of the viral bets
0:19:47 is obviously the presidential election stuff.
0:19:49 But remember when the idiots went down
0:19:51 to the Titanic and the submersible?
0:19:53 That was one of the most viral bets.
0:19:57 I think they had like $60 million bet on that one thing
0:20:00 of like, what’s gonna happen with the submersible?
0:20:02 So, you know, they can go viral.
0:20:04 Like just yesterday, it had five million in volume.
0:20:07 And so business is booming for polly market.
0:20:09 – Who started it and when did it start?
0:20:12 – This guy, Shane Copeland, I think is his name.
0:20:14 And he started in 2020.
0:20:17 So this is not a very old business.
0:20:18 This is, you know, pretty recent,
0:20:20 three, four years that’s been out.
0:20:23 And he, I think it’s like his first thing.
0:20:26 He, his LinkedIn, when I was honored earlier was like,
0:20:28 he was an intern at Rap Genius.
0:20:29 He was an intern at some other place.
0:20:30 And then he created polly market
0:20:31 and he’s been doing that for four years now.
0:20:33 – Did they raise money?
0:20:35 – Yeah, they just raised a big round.
0:20:38 So it was pretty, it was pretty under the radar
0:20:42 and actually sort of, you know, seemed sort of sketchy before.
0:20:43 Like when I was betting on it,
0:20:45 people I remember telling me like, what are you doing?
0:20:47 Do you, you put real money onto this thing?
0:20:49 And I was like, yeah, it’s awesome.
0:20:50 And they’re like, who runs this?
0:20:51 Is this legal?
0:20:52 And I was like, I don’t really know.
0:20:53 You know, I’m not sure.
0:20:57 It just, it looked like a very thin, thin app at the time.
0:21:00 But they just raised $75 million from Founders Fund
0:21:02 and Joe Gabia and Vitalik
0:21:04 and a whole bunch of other heavy hitters.
0:21:08 And so it’s obviously become a lot more legitimized.
0:21:10 – I hate talking about gambling
0:21:12 because I’m like, I don’t want to sound like
0:21:16 my farts don’t smell like a guy or what, like I’m better.
0:21:19 But I am because I hate gambling.
0:21:20 Like I don’t, I don’t like gambling
0:21:22 and I don’t particularly love products
0:21:25 that make it more popular,
0:21:27 which is weird because I have vices.
0:21:28 Like I love nicotine and shit like that.
0:21:30 So I would be bummed if no one made that stuff.
0:21:33 But I feel weird making this more popular.
0:21:35 You know what I mean?
0:21:36 – I understand.
0:21:37 I don’t know.
0:21:38 Obviously I enjoy betting.
0:21:39 I’ve bet on many things.
0:21:41 I have a bit of a betting problem, I would say.
0:21:43 It’s the honest way of explaining it.
0:21:44 – It’s like porn.
0:21:47 We consume it, but we’re like, you know,
0:21:49 that’s disgusting that you would do this for a living.
0:21:52 – That’s disgusting.
0:21:54 – Yeah.
0:21:57 – But I think there is actually a lot of value in this.
0:21:59 So I think that the wisdom of the crowds
0:22:00 has always been a phenomenon.
0:22:02 I’ve been interested in.
0:22:04 And I think it’s just a more pure form of information.
0:22:07 Like I think that it is very easy for the news
0:22:11 to tell you one thing or random polls to be quoted and claimed.
0:22:13 Like I like things that are more ground truth.
0:22:16 And I don’t know, like more ground truth
0:22:18 is a actual betting market on something.
0:22:20 That is what people actually believe.
0:22:21 And the wisdom of the crowd,
0:22:24 it is very hard to beat the wisdom of the crowds
0:22:25 when it comes to betting.
0:22:27 – I don’t know if I buy that yet,
0:22:30 mostly because I’m ignorant to these predictive markets.
0:22:35 In 2016, what did, whatever existed before poly market,
0:22:36 what did it say about the election?
0:22:39 – It wasn’t as popular back then.
0:22:41 So there’s been like auger
0:22:43 and a couple other crypto prediction markets,
0:22:46 but they were never mature enough.
0:22:48 They didn’t have enough volume
0:22:51 or the people that consumed the only crypto degenerates.
0:22:53 And so only crypto degenerates skewed one way.
0:22:55 It’s almost more like a poll in that case.
0:22:57 So I’m not sure what they said then.
0:23:00 All I know is that all of the polls were wrong.
0:23:01 538 was wrong.
0:23:04 All of this sort of like data science around polling
0:23:05 was so wrong during that.
0:23:08 And I know that also that the other unrelated data point
0:23:11 is that one of the things that helped FTX take off back then
0:23:14 was Sam Bakeman Fried was one of the first
0:23:19 to put political bets on his platform, I think in 2020.
0:23:21 And it was a big accelerant for FTX
0:23:25 was letting people bet on election information back then.
0:23:27 And people around the world wanted to bet.
0:23:30 And so it was a way to attract a lot of liquidity
0:23:31 to FTX at the time.
0:23:34 – What was his like philosophy, SBS philosophy?
0:23:36 It was like, what was it called altruism?
0:23:38 – Yeah, effective altruism.
0:23:40 – But doesn’t him having betting on his website
0:23:42 go against that?
0:23:43 – No, not at all.
0:23:46 Effective altruism doesn’t mean no sin, no vice.
0:23:48 Effective altruism basically means
0:23:50 make as much money as you can.
0:23:53 The highest impact way to give and contribute to the world
0:23:56 is to first like do something that’s going to accumulate
0:23:59 a huge amount of capital so you can reallocate it
0:24:01 like getting them addicted to things
0:24:02 that they spend all the money on.
0:24:07 – If you’re Sam Bakeman Fried, you are more value.
0:24:08 Like you have two choices.
0:24:09 You could go work for a non-profit
0:24:12 or go volunteer in a soup kitchen and pour soup every day,
0:24:15 but that’s a pretty low leverage way to contribute
0:24:17 versus if you become a billionaire
0:24:19 and you give away a billion dollars,
0:24:21 you have done more good that way.
0:24:23 And so effective altruism is basically working
0:24:25 for the purpose of accumulating as much capital
0:24:26 to give away as possible.
0:24:28 Now in his case, he turned out to be
0:24:30 a liar and a fraud on many accounts, right?
0:24:32 So it’s not, I think he sort of tanked
0:24:34 the brand of effective altruism,
0:24:35 which probably is a little unfair.
0:24:37 He also tanked the brand of crypto,
0:24:38 which is a little unfair.
0:24:39 People were like, oh, crypto is a scam.
0:24:41 It’s like, no, this dude scammed crypto.
0:24:44 He tricked, he lied to the crypto community basically.
0:24:46 He was taking money and not like, you know,
0:24:48 somebody would go try to buy Bitcoin on his platform.
0:24:50 And instead of buying Bitcoin,
0:24:52 he would just tell them that he bought Bitcoin,
0:24:54 take the money and do something else with it all together.
0:24:56 He was deceitful is very different
0:24:59 than saying crypto was deceitful.
0:25:01 – The New York Times had this podcast the other day
0:25:05 about this woman who got addicted to DraftKings
0:25:08 or FanDuel or what, I think they’re the same thing.
0:25:10 And she told this story about how she was
0:25:15 like a $150,000 a year earner and she got addicted to it.
0:25:18 And one of the reasons why she got addicted to it was,
0:25:20 A, she just is an addict, whatever,
0:25:25 but B, if they assign an account manager to you,
0:25:27 just like you do when you want to upsell software.
0:25:30 And they’re like, hey, I see you’re spending on this.
0:25:32 We’ve got this new game called this, this and this.
0:25:34 I’m willing to give you like a $500 credit
0:25:36 in order to get your, you can whet your whistle a little bit
0:25:38 and try this out.
0:25:41 And she was like telling the story and I’m listening to this.
0:25:43 I’m like, hey, that’s the same tactics we did
0:25:45 to like get people to buy ads.
0:25:46 Like you like say, like, hey, you know,
0:25:48 you’re a new customer, we’ll hook you up this time.
0:25:49 And hopefully you get addicted to us.
0:25:50 You want to give us more money?
0:25:53 But they are doing that with this woman when she was in,
0:25:55 she eventually got into $350,000 a debt.
0:25:59 And she got divorced, there was like a whole issue.
0:26:02 And she was like, they’re still sending me emails
0:26:04 trying to get me to like try these new games
0:26:06 and I want to try them so bad.
0:26:07 Like they sound so awesome.
0:26:09 – Oh God.
0:26:11 – And so kind of this whole online gambling thing
0:26:13 kind of left a bad taste in my mouth,
0:26:15 particularly because now you watch,
0:26:16 UFC is the only sports.
0:26:18 – By the way, same thing happens in like,
0:26:19 you know, a bunch of different fields,
0:26:22 but also just the entire mobile gaming market,
0:26:25 the things that look very harmless, Candy Crush,
0:26:28 these, all the mobile gaming companies work the same way.
0:26:29 They’re all hunting for whales.
0:26:33 The whole business is you go try to acquire 100,000 users
0:26:34 and you’re looking for the few users
0:26:37 that are going to spend $100,000 inside your app.
0:26:38 – And are people doing that with games
0:26:40 where they spend a hundred grand?
0:26:42 – Of course, yeah, this, I mean, Candy Crush
0:26:45 and the entire like casual mobile gaming thing
0:26:49 that looks like these silly innocuous free-to-play games,
0:26:52 they’re based on, there’s women in the Midwest
0:26:54 who are going to dump tens of thousands of dollars
0:26:56 into each game that they get hooked on.
0:26:57 And those are what they work for.
0:26:58 They work for whales.
0:26:59 They’re trying to find whales.
0:27:02 Whales are obviously the most profitable customer.
0:27:03 And in that, you can’t even win anything, right?
0:27:05 It’s not even like gambling where there’s nothing to,
0:27:07 there’s no money, there’s no money to be made in it.
0:27:08 It’s just money to be spent.
0:27:10 – You had friends at the gaming industry,
0:27:13 or at least you knew them better than my friends
0:27:14 who work in the gaming industry.
0:27:16 How many times did they say they had a customer
0:27:19 that would spend 50 or $100,000 on a game?
0:27:21 – We’ve been having time.
0:27:23 That’s like, I guess like,
0:27:26 I guess how big is the scale of people
0:27:28 willing to spend that much?
0:27:29 – It’s very large, dude.
0:27:30 This is, I mean, this is how they make,
0:27:32 these games make like a billion dollars in revenue.
0:27:35 – I thought that was like everyone buying
0:27:36 like a $20 a month thing.
0:27:37 – No, no, no.
0:27:40 It’s most players spend nothing, right?
0:27:42 Vast majority of players will spend nothing.
0:27:44 Then there’s a segment of people
0:27:46 that are going to spend a small amount.
0:27:47 And there’s a very small segment of people
0:27:48 that are going to spend a huge amount.
0:27:50 And the total thing blends together
0:27:51 where you’re like, “Oh, our poo,
0:27:54 our average revenue per customer is $7 or $10.”
0:27:57 But it’s not every customer spends $7 to $10.
0:27:59 It’s that most spend zero,
0:28:01 a few will spend $23 on average,
0:28:04 and then a few will spend $23,000, right?
0:28:06 That’s more of how it looks
0:28:07 when you look at the distribution of these things.
0:28:08 – That’s insane.
0:28:09 – Ben used to work at FanDuel,
0:28:12 and he was like, “Yeah, dude, part of the program I had.”
0:28:14 I think he was like employee 30 or 40 at FanDuel.
0:28:16 He’s like, you know, I basically oversaw this program
0:28:17 or he was like associate with some program
0:28:20 that was like the whale VIP white glove service.
0:28:23 It’s like, oh, if you’re betting and losing this much money
0:28:26 or even winning, you’ll eventually lose it.
0:28:29 So if you’re betting a certain volume, guess what?
0:28:30 It’s the Super Bowl.
0:28:30 We want to fly you out.
0:28:31 You’re going to come visit.
0:28:32 Hey, we’re in New York.
0:28:33 We want to invite you to this private dinner.
0:28:36 And there’s a whole VIP program, white glove program,
0:28:38 where, hey, we got your tickets to this game,
0:28:41 and they’re going to make you feel like a rock star.
0:28:42 – Is it just one of the other degenerates
0:28:43 sitting around the dinner table like,
0:28:44 hey, what do you want to bet that
0:28:46 the meal’s going to be chicken?
0:28:47 – Yeah, and these are willing participants.
0:28:48 These are adults.
0:28:52 Now, I would say, obviously, some people ruin themselves.
0:28:53 They get addicted to gambling,
0:28:55 just like people get addicted to everything,
0:28:57 social media and drugs and vape.
0:28:58 And, you know, there’s a ton of things
0:29:00 that people get addicted to and it’s not good for them.
0:29:02 I definitely agree with that.
0:29:03 That is, that is for sure a thing.
0:29:06 And you will always see news about that
0:29:09 because A, it’s happening and B, it’s makes for good news.
0:29:11 Big company ruined this person’s life, right?
0:29:13 That’s always going to be a thing.
0:29:14 Guess what?
0:29:15 Robin Hood is designed the same way.
0:29:17 Robin Hood is literally designed like a mobile game
0:29:19 to get you addicted to trade,
0:29:21 to get you to try to trade as much as you can.
0:29:22 They make money every time you make a trade.
0:29:24 They don’t make money by you buying a low-cost index fund
0:29:26 and holding it for 20 years.
0:29:28 They make money by getting you to buy Robin Hood gold
0:29:31 to trade options and be day trading.
0:29:34 And so Robin Hood, which is this like name of like the,
0:29:36 we’re going to steal from the rich and give to the poor,
0:29:37 is doing the exact opposite.
0:29:39 It’s basically steal from the dumb and give to themselves.
0:29:41 And that’s what Robin Hood is.
0:29:45 So here’s the deal.
0:29:49 I made most of my money from a newsletter business.
0:29:50 It was called The Hustle.
0:29:51 And it was a daily newsletter at scale
0:29:53 to millions of subscribers.
0:29:55 And it was the greatest business on earth.
0:29:59 The problem with it was that I had close to 40 employees
0:30:02 and only three of them were actually doing any writing.
0:30:04 The other employees were growing the newsletter,
0:30:06 building out the tech for the platform and selling ads.
0:30:09 And honestly, it was a huge pain in the butt.
0:30:12 Today’s episode is brought to you by Beehive.
0:30:16 They are a platform that is built exactly for this.
0:30:17 If you want to grow your newsletter,
0:30:18 if you want to monetize a newsletter,
0:30:20 they do all of the stuff that I had to hire
0:30:22 dozens of employees to do.
0:30:24 So check it out, behive.com.
0:30:28 That’s B-E-E-H-I-I-V.com.
0:30:34 – So I’m going to place a bet on this.
0:30:36 I’m going to, that’s what I’m saying.
0:30:38 I’m going to bet that Justin Bieber
0:30:39 is going to be having a baby boy.
0:30:40 – You can’t, you’re in the US.
0:30:41 You’re not going to be able to make a bet.
0:30:44 You can’t, and how do they, how do they,
0:30:45 how do they track that?
0:30:47 – I think it’s just like your IP address right now.
0:30:49 I don’t know what else they do.
0:30:52 – God, this is horrible and awesome.
0:30:53 I like this one.
0:30:54 I can’t believe this exists.
0:30:55 That’s pretty wild.
0:30:56 – All right, let’s take a quick break.
0:30:58 I want to tell you about Wander.
0:31:00 So it’s summer, planning summer vacations.
0:31:03 And if you’re going to try to get away,
0:31:05 one of the best ways to get away is through Wander.
0:31:09 They have amazing luxury homes that you can stay in.
0:31:11 It’s sort of like staying in a five-star hotel,
0:31:12 but it’s a home.
0:31:14 So you get kind of the best of the home vibe
0:31:17 and the luxury amenities and turnkey experience
0:31:18 of a hotel all in one.
0:31:19 So check out Wander.
0:31:20 They have so many cool locations.
0:31:24 I’m taking one trip on Wander in about a month or so to Tahoe.
0:31:25 They have a really cool property there.
0:31:28 But go to wander.com/mfm and just browse.
0:31:31 You can just see like really amazing places to stay
0:31:33 that make for great family trips
0:31:35 or even like corporate offsites are great
0:31:36 because these locations are so baller.
0:31:37 So check this out.
0:31:39 And if you go to wander.com/mfm,
0:31:41 you can enter in to get a free trip giveaway.
0:31:43 So they’re giving away a trip to one listener
0:31:45 as well as if you download the app
0:31:47 and you get $300 free travel credit.
0:31:48 So that’s pretty awesome.
0:31:51 So check it out wander.com/mfm.
0:31:51 – All right.
0:31:52 What do you want to do one more thing?
0:31:54 What do you got?
0:31:55 – Okay. I want to do one thing.
0:31:58 You said something earlier about jingles, catchy things.
0:32:00 And I was sitting in a meeting
0:32:03 and I was sitting in a meeting
0:32:05 and there was somebody who was prolific.
0:32:08 Like if Kendrick Lamar wore a suit
0:32:11 and sold B2B software, that was this guy.
0:32:12 This guy had lyrics.
0:32:14 He was lyrical with his corporate slang
0:32:17 and it got me thinking about epic corporate slang
0:32:20 and some of my favorite greatest hits of corporate slang.
0:32:22 And I just started thinking, you know, we need some more.
0:32:24 And so I wanted to play a little game with you.
0:32:25 So I’d like to play a game.
0:32:26 I texted you this.
0:32:29 I said, I want you to think of this.
0:32:31 Think of corporate slang that doesn’t exist,
0:32:34 but it should because we’re innovators here on the podcast
0:32:35 and I want to come up with some slang.
0:32:37 I think it would be a fun claim to fame
0:32:40 if we could just make something stick with corporate slang.
0:32:43 So I say we go back and forth like a rap battle
0:32:45 with this is corporate slang that doesn’t exist,
0:32:46 but it should.
0:32:48 – All right, you have more than me.
0:32:51 I didn’t, I came with about four or five.
0:32:52 You have a bunch of them.
0:32:53 This is right in your wheelhouse.
0:32:54 So let’s see what we can do though.
0:32:56 – All right, let me give my phone.
0:32:59 All right, so the first one is going to be,
0:33:01 is the first one.
0:33:04 One man’s Thanksgiving is another man’s Thursday.
0:33:08 And this is for any situation where you are,
0:33:10 when somebody’s really excited about something
0:33:14 that to you is just normal or even lame,
0:33:15 but hey, it’s their Thanksgiving.
0:33:16 It might just be Thursday to you,
0:33:17 but it’s their Thanksgiving.
0:33:20 So it’s kind of a way to throw shade in a corporate setting
0:33:22 when somebody is overly excited about something
0:33:25 that’s actually just normal or average.
0:33:26 And you just say, hey man,
0:33:28 one man’s Thanksgiving is another man’s Thursday.
0:33:30 And you just plant that seed and you just leave it with them.
0:33:32 And they’ll realize later that they just,
0:33:34 they just had shade thrown at them.
0:33:36 – And that’s a phrase that you need to use.
0:33:38 And when someone is like, wait, what?
0:33:40 And you’re like, what, you don’t know what that means?
0:33:42 – You know what I’m saying.
0:33:43 – Yeah, like.
0:33:45 – It’s just one of those things they say.
0:33:46 – Yeah, like when I was a kid,
0:33:49 I thought it was a go out there and break an egg,
0:33:51 not go out there and break a leg.
0:33:52 (laughing)
0:33:54 You know what I mean?
0:33:57 So we’ll make that a phrase or instead of cat like reflexes,
0:33:59 I thought it was Cadillac reflexes.
0:34:02 (laughing)
0:34:07 – It’s not even corporates.
0:34:10 Like these are just like stutters that you had.
0:34:12 – Yeah, yeah.
0:34:13 So I used to say for years, like, you know,
0:34:15 go out there, have fun, break an egg.
0:34:17 (laughing)
0:34:19 So that’s how you need to use this phrase.
0:34:21 All right, I have got one.
0:34:23 All right, we’re going to call it bubble wrap.
0:34:26 As in when someone, like do you have any employees
0:34:27 that are overly sensitive?
0:34:29 And when you bring news to them,
0:34:32 you have to be like, how are we going to phrase this?
0:34:35 – Oh, so it’s like, we got a bubble wrap this?
0:34:38 Yeah, like, all right, we have to tell this guy
0:34:40 about this thing, but we got to bubble wrap his ass.
0:34:42 And we got to bubble wrap this phrasing.
0:34:44 And we got to figure out how we can deliver this.
0:34:46 So it doesn’t like totally crush him
0:34:48 instead of just saying, hey, we’re not doing that anymore.
0:34:49 Your idea sucked.
0:34:51 We got to bubble wrap it.
0:34:52 So we got to bubble wrap it.
0:34:54 – Okay, so it’s actually like a,
0:34:55 it’s like, I like what you’re saying, you’re right,
0:34:57 but we’re going to need to bubble wrap that
0:34:57 before it goes out.
0:34:59 – Yeah, yeah, yeah, yeah, yeah.
0:35:01 So you have to say it in a more sensitive way,
0:35:04 not to freak a particular person out
0:35:06 because that person, when you talk to them,
0:35:08 you got to bubble wrap them before you talk to them.
0:35:09 So we’re going to call a bubble wrap.
0:35:11 – Like, I like that one, that’s strong.
0:35:12 All right, I got another one.
0:35:13 Alohomora.
0:35:15 So making email intros sucks.
0:35:16 I hate doing it.
0:35:17 It’s like, oh, can you introduce this person?
0:35:19 I got to say, hey, Bob, meet me, Sean.
0:35:21 He’s this guy, he’s this guy.
0:35:23 I’m shortening it to one word.
0:35:25 We’re using the Harry Potter word, alohomora,
0:35:27 for the spell that just is like unlocking doors.
0:35:28 So that’s what I’m going to do.
0:35:29 I’m going to go do an email thread.
0:35:34 I’m just going to say Sam, Bob, alohomora, but voice.
0:35:35 Alohomora, fellas.
0:35:38 I’ve unlocked the doors here, go on through.
0:35:41 And that’s it, I’m shortening it to one thing.
0:35:43 – What, but what’s that word from?
0:35:46 – Harry Potter, it’s the spell he uses to unlock any door.
0:35:49 – Oh my God, all right, that one’s extra nerdy.
0:35:52 All right, I’ve got another one.
0:35:55 All right, so you know how in the Google calendar,
0:35:58 the default is typically 30 minutes?
0:35:59 I hate that.
0:36:01 So we’re going to call this, or we’re going to say,
0:36:03 so we’re going to use this word when it’s like,
0:36:06 hey, put something on my calendar and let’s sync storm it.
0:36:07 We’re just going to sync storm it.
0:36:10 So it’s by default, it’s a five minute meeting.
0:36:13 So let’s just sync storm, you know,
0:36:14 and some people say like, let’s sync up.
0:36:17 And it’s always either default 30 or 60 minutes.
0:36:19 Now fuck that, we’re going to sync storm this.
0:36:21 We’re going to hit done in just about four or five minutes.
0:36:23 So hey, just put something on my calendar,
0:36:24 put a little sync storm on my calendar
0:36:26 and we’re going to bang this out.
0:36:28 – I love it because the other person’s going to have no idea
0:36:28 what you mean by that,
0:36:30 but it sounds like they’re supposed to know.
0:36:31 So yeah, no problem.
0:36:34 I love sync storming, it’s one of my favorite things to do.
0:36:35 And they’re going to walk away and be like,
0:36:37 what the hell am I supposed to do?
0:36:39 – Well, we got to sync storm the summer bitch.
0:36:43 – It’s also nice because it’s a way they’re like,
0:36:45 it’s the equivalent of dating a first date
0:36:46 and being like, they’re like, hey, let’s grab dinner.
0:36:49 And you’re like, let’s do drinks.
0:36:50 – Yeah, yeah, yeah.
0:36:51 – It’s actually that.
0:36:54 – Yeah, you got to sync storm it.
0:36:55 All right, what do you have?
0:36:57 – All right, we got to crash the boards here.
0:36:58 So this is a sports one
0:37:00 that’s going to be used in the corporate setting.
0:37:01 So it’s when you’re emailing people,
0:37:03 but you’re not following up hard enough.
0:37:06 So you’re emailing a prospect, you’re trying to do a sale.
0:37:07 And you notice there’s just no follow-up.
0:37:08 There’s no follow-up email.
0:37:10 So either you could just use it,
0:37:12 like when you’re following up, you can be like,
0:37:14 hey, I’m just crashing the boards here.
0:37:15 Or you could tell your sales team,
0:37:18 be like, hey, we really got to crash the boards here, fellas.
0:37:19 And they know, oh, that means we got to really
0:37:21 just follow up strong.
0:37:24 – I used to use the word blitzkrieg
0:37:25 when referring to that.
0:37:28 And then I realized that referencing World War I,
0:37:30 World War II, Germany and their military tactics
0:37:33 probably wasn’t the best thing.
0:37:34 It’s so crashing the boards.
0:37:35 – Yeah, you’re a little too blonde-haired blue-eyed
0:37:36 to be using that one.
0:37:37 – Yeah, yeah, yeah.
0:37:39 We had to bubble wrap blitzkrieg
0:37:40 and use crashing the boards.
0:37:43 That’s pretty good.
0:37:43 – You got another one?
0:37:47 – Yeah, so let’s do, all right.
0:37:49 So you know how when you have a meeting,
0:37:52 and oftentimes, even if it’s a good idea,
0:37:57 you still, it turns into a vote a lot of times,
0:37:58 where it’s like, look, not everyone thinks
0:38:00 that’s a good idea, so we’re not going to go with it.
0:38:01 Even though a lot of times,
0:38:03 the non-popular choice is the good one.
0:38:06 And so what you do is you try to be political
0:38:09 and get people on your side before the meeting.
0:38:12 And so they vote for your idea or whatever.
0:38:14 We’re going to call that landsliding.
0:38:15 Look, we’re going to have a meeting,
0:38:17 but we got to landslide this in advance.
0:38:19 We got to get everyone to vote for our side,
0:38:21 and we got to landslide this meeting.
0:38:23 This idea needs to get landslided.
0:38:25 So we’re going to call it landslide.
0:38:27 – That’s powerful, I like that.
0:38:28 All right, this is when you got an employee
0:38:32 who, it’s sink or swim, you got somebody new,
0:38:34 and you need to really figure out what they’re made of.
0:38:36 Are we boiling eggs or potatoes here?
0:38:38 And it’s a way to ask about somebody,
0:38:39 what they’re really made of,
0:38:42 ’cause when you, like a potato starts out really hard,
0:38:44 but if you boil it, it gets soft,
0:38:45 but an egg starts out soft,
0:38:48 but if you apply some heat, it gets hard.
0:38:50 You want eggs, you don’t want potatoes in your company.
0:38:53 And so that’s where you put that out there.
0:38:55 And it’s when times are getting tough
0:38:56 and people are wilting,
0:38:59 they’re folding under the pressure, under the heat,
0:39:00 you just got to ask,
0:39:02 are we boiling eggs or potatoes here?
0:39:02 – That’s a good one.
0:39:05 I think that’s an old phrase from the South.
0:39:06 Haven’t I heard like grandpas say that?
0:39:08 Have you ever heard that?
0:39:11 – I have not, but maybe I’ve been told I have an old soul.
0:39:12 So maybe that’s where they’re at.
0:39:13 – That’s a good one.
0:39:15 All right, this is the last one that I have.
0:39:17 We’re going to call, all right.
0:39:18 So you know, you were just in a meeting
0:39:21 where a guy was saying a lot of jargon,
0:39:23 or oftentimes you’ll be in a meeting and like,
0:39:24 people are lying.
0:39:26 They’ll be like, well, we’re doing great.
0:39:28 And it’s like, well, we’re not really doing that great.
0:39:29 And so for that,
0:39:31 we’re going to use the phrase bullshit bingo.
0:39:32 It’s like, hey, are we having a meeting
0:39:33 about what we’re going to do?
0:39:37 Or are we just playing bullshit bingo and winning right now?
0:39:39 This meeting is just a game of bullshit bingo
0:39:40 and we’re killing it.
0:39:44 And so, yeah, it’s like,
0:39:47 Sean, look, you’re telling me all this nonsense.
0:39:50 I think your board is full for bullshit bingo.
0:39:51 This is just nonsense.
0:39:53 And so we’re going to call it bullshit bingo.
0:39:54 I like that one.
0:39:55 – It’s a way to call someone out,
0:39:57 but because it’s an alliteration,
0:39:59 it just bubble wrapped it just enough.
0:40:00 – Yeah.
0:40:01 – Bubble wrap is the real winner here.
0:40:02 It sounds like.
0:40:03 (laughing)
0:40:04 All right, I got one last one.
0:40:08 This is similar to a situation where somebody’s,
0:40:09 we’re trying really hard,
0:40:11 but we’re working on the wrong things.
0:40:14 Feels like we’re just massage and elbows here.
0:40:15 It’s when you’re working on a problem
0:40:16 and you’re working really hard,
0:40:19 but you’re working on something that doesn’t really matter.
0:40:21 There’s not enough meat on the bone there.
0:40:22 And so you’re just massage and elbows.
0:40:26 It’s the wrong place to be applying the effort.
0:40:27 – I like that one.
0:40:28 I like that one.
0:40:30 But you have one more that I think you should,
0:40:31 you should finalize with.
0:40:32 The one about a tree.
0:40:36 – So this one came from Diego,
0:40:37 ’cause I was very sorry with him.
0:40:41 And he goes, it’s when you have an employee.
0:40:43 Okay, so the phrase is,
0:40:46 I think we’re trying to teach a fish how to climb a tree.
0:40:47 And it’s when you have an employee
0:40:48 and you put them in a position
0:40:50 that’s not really their core strength.
0:40:52 They’re great as a fish, but they need to be in water.
0:40:53 And you put them in a position,
0:40:55 maybe it’s a technical person,
0:40:56 you got them on sales calls.
0:40:59 And we’re trying to teach a fish how to climb a tree here.
0:41:00 And you just be better off
0:41:02 putting them in their natural environment
0:41:03 and letting them succeed there
0:41:07 than really just working against the laws of nature.
0:41:09 – Have you used any of these phrases yet?
0:41:12 – I’m gonna start.
0:41:14 This was a sink storm.
0:41:15 And so now I’m ready to start.
0:41:19 – Nice.
0:41:21 There was this TikTok I saw where it was this teacher.
0:41:25 And he goes, my new favorite thing is to talk to my Gen Z
0:41:28 or whatever students and to say phrases
0:41:31 and then gaslight them that they don’t know what they are.
0:41:32 He’s like, I just make up phrases.
0:41:35 And I think one of them was Pebbles.
0:41:37 He was like, Pebbles is like the opposite of a mountain
0:41:39 or the opposite of a boulder.
0:41:41 So it’s like, hey, why are you trying over this problem?
0:41:42 This is a small problem.
0:41:43 It’s Pebbles, baby.
0:41:45 Like you don’t have to freak out about this.
0:41:47 And he would just like throw these phrases in.
0:41:48 – Dude, that’s pretty sick actually.
0:41:50 – Pebbles is a good one.
0:41:52 And I think another one was he was like parked.
0:41:56 So it was, when the day is going really slow
0:41:57 or something’s not moving.
0:42:02 So for example, man, it’s only lunchtime now.
0:42:06 Like this day is so parked and like it’s going so slow.
0:42:08 And so he would use it in this TikTok.
0:42:09 He’s like, I use these phrases.
0:42:11 And they look at me and they’re like,
0:42:12 what does that mean?
0:42:13 And I’m like, you don’t know what that means.
0:42:15 Like nerd, you know?
0:42:17 That’s what we have to do with the bubble wrapped
0:42:19 or teach it how to climb a tree.
0:42:20 Or like, how do you not know what that means?
0:42:22 We just had, we have to act like it’s normal.
0:42:24 And so when we have a–
0:42:25 – Had potential.
0:42:29 First of all, parked and Pebbles, I think are elite.
0:42:30 I don’t know.
0:42:32 I think bubble wrap is pretty elite to be honest.
0:42:35 But in the YouTube comments, let us know which one was,
0:42:37 which one you’re going to actually adopt.
0:42:38 Which one was, was ready to go.
0:42:42 – We have to have some like buttoned up billionaire
0:42:44 guests or something on and just like–
0:42:46 – Oh, we just start using them?
0:42:48 – We’re just start using them.
0:42:49 People use them so many times.
0:42:52 And just like, for example, do you remember that movie
0:42:54 Super Troopers where there are cops and they’re like,
0:42:55 hey, you want to play the meow game?
0:42:57 And so instead of saying now, they use the like,
0:42:59 give me your license, write meow.
0:43:00 And they’re like, let’s see if we can play.
0:43:02 Let’s, let’s see who can save me out the most.
0:43:03 – How many we can put in here, yeah.
0:43:05 – That’s what we have to do with our next guest is like,
0:43:08 so like, Darmesh, did you like, were you able to give it
0:43:10 to him Blanche or did you have to bubble wrap it?
0:43:11 You know what I mean?
0:43:13 (laughing)
0:43:16 – Just see, do they react or do they try to roll with it?
0:43:19 – Yeah. (laughing)
0:43:20 Are we gonna wrap up here?
0:43:21 Is that it?
0:43:24 Are we gonna, was this podcast a sick storm?
0:43:26 – Yeah, I think we gotta end it there.
0:43:28 – All right, that’s the pod.
0:43:29 ♪ I feel like I can rule the world ♪
0:43:32 ♪ I know I could be what I want to ♪
0:43:35 ♪ I put my all in it like no days off ♪
0:43:38 ♪ On the road, let’s travel never looking back ♪
0:43:48 [BLANK_AUDIO]
0:00:04 And this is something I’ve been thinking about lately.
0:00:06 And I think that you actually you’re
0:00:09 going to bring more application to this topic than I am.
0:00:11 And so it’s my theory, but I want to hear
0:00:13 how you would apply this idea that I have.
0:00:15 All right, hit me.
0:00:17 So did you see that blonde hair woman?
0:00:20 She had that song that was like looking for a man in finance.
0:00:21 Six, four, whatever.
0:00:23 Yeah, what was it?
0:00:24 What was it?
0:00:24 Blast for me.
0:00:26 Six, five, bro.
0:00:27 Six, five is finance.
0:00:29 Six, five, six, five.
0:00:30 Blue eyes or whatever.
0:00:32 Dude, have I seen that?
0:00:34 Has there been 10 minutes in my house
0:00:37 where either me or my daughter is not singing that song?
0:00:38 My four-year-old daughter, by the way,
0:00:40 hits very different when your daughter says it.
0:00:41 My dad hormones kicked in.
0:00:43 And I was like, you ain’t looking for.
0:00:43 What are you looking for?
0:00:45 You’re looking for your Barbie, your toys.
0:00:47 You’re looking for Legos is what you’re looking for.
0:00:49 I feel like I can rule the world.
0:00:53 I know I could be what I want to put my all in it
0:00:55 like no days off on the road.
0:00:57 There was really funny follow-ups where people are like,
0:00:59 let’s do the math on that, by the way.
0:01:01 How many men are six, five?
0:01:03 It’s like 0.1%.
0:01:04 How many people live in New York City?
0:01:06 How many have a trust fund?
0:01:08 And it was like, you know, and they’re single.
0:01:08 It was like–
0:01:10 There was like seven guys left.
0:01:11 Yeah, yeah, it’s pretty funny.
0:01:13 But that got me thinking.
0:01:15 And before I tell you exactly what it is,
0:01:16 I have to ask you a question.
0:01:20 Do you know your mother’s or father’s cell phone
0:01:21 number by heart?
0:01:23 I do not.
0:01:25 So for the life of me, I couldn’t tell you
0:01:26 my wife’s phone number.
0:01:28 I could tell you the area code, but I couldn’t tell you
0:01:30 her number, which is like a big deal.
0:01:35 However, how many commercials from the ’90s do you remember?
0:01:37 I want my baby back, baby back, baby back.
0:01:38 I want my baby back.
0:01:40 Yeah, or a hot pocket.
0:01:42 Like, you remember some of these songs?
0:01:44 $5, $5.
0:01:46 We know what comes after that.
0:01:48 I don’t even have to have known you, right?
0:01:50 You could be a complete stranger, but if I’m like $5,
0:01:53 $5, the guy’s going to stay foot long at the end of that.
0:01:56 So I got really interested in jingles.
0:01:57 Because I don’t remember my wife’s phone number.
0:01:59 You don’t remember your parents’ phone numbers,
0:02:01 but I can cite all these jingles.
0:02:04 In fact, I follow Instagram accounts
0:02:06 where it’s like commercials from the ’90s.
0:02:08 The ’90s, because that’s when we were kids,
0:02:11 and for a lot of listeners, that was the heyday
0:02:14 of these jingles and commercials.
0:02:17 And in my opinion, we need to bring that back.
0:02:19 And I want to tell you, I’ll give you a little bit,
0:02:21 a short history of jingles.
0:02:24 All right, I want to tell you about a really cool feature
0:02:26 in HubSpot that I don’t think most people know about.
0:02:29 It’s called the marketing and content hub.
0:02:30 All right, so here’s how it works.
0:02:32 You’re doing content marketing.
0:02:33 That’s what I do.
0:02:34 That’s what many brands do.
0:02:35 It works really, really well,
0:02:36 but it can be very time consuming.
0:02:38 So what they do is they have tools like Content Remix,
0:02:40 which will take one piece of content
0:02:42 and immediately turn it into a bunch of pieces
0:02:44 for all the different platforms in one click.
0:02:46 Or they have LeadSquaring,
0:02:47 which will basically shine a light on
0:02:50 which leads that you have, or most likely to purchase.
0:02:51 And then they have the analytics suite.
0:02:53 So you get reports, KPIs,
0:02:55 and all kinds of AI-powered insights
0:02:56 that you can share with your team
0:02:57 and not be flying blind anymore.
0:02:59 So if you’re doing content marketing,
0:03:00 highly recommend you check out
0:03:02 the Content Hub and Marketing Hub for HubSpot.
0:03:06 You can visit hubspot.com to get started for free.
0:03:07 Back to this episode.
0:03:11 So in the ’90s, something like 15% of commercials
0:03:12 had jingles.
0:03:15 Now it’s closer to 1%.
0:03:17 So in the ’20s, this company called General Mills
0:03:20 came out with this thing called Weedies, Weedies Serial.
0:03:22 And it wasn’t that big of a hit early on.
0:03:24 And so they were like, “Let’s write a song about it,
0:03:25 and we’re gonna create a commercial
0:03:27 on the radio for Weedies.”
0:03:29 And it’s the first time that there was ever
0:03:31 a dedicated commercial for a product.
0:03:34 And the Weedies wasn’t really doing that well
0:03:35 for the first three or four years.
0:03:37 That song comes out in year five or so.
0:03:38 It takes off.
0:03:41 And now Weedies is like a huge brand that we all know.
0:03:44 And I think that we need to do more of that.
0:03:46 In the ’90s, it kind of kicked ass
0:03:48 because when we were kids, there was what?
0:03:49 Like 50 or 60 channels.
0:03:50 So there was less channels.
0:03:53 And the key to a jingle sticking
0:03:54 and like something to remember
0:03:57 is you need to hear tons and tons of times.
0:03:59 So when the Weedies commercial came out,
0:04:01 they ended up playing this song,
0:04:03 something like 300 times a day
0:04:05 on a variety of radio stations.
0:04:07 And back then there weren’t actually that many radio stations.
0:04:09 And so repetition is important.
0:04:12 However, once YouTube, Facebook, whatever it came about,
0:04:14 we have so many different channels.
0:04:17 However, when you run Facebook ads,
0:04:21 you can increase the repetition,
0:04:22 the frequency, I think they call it, right?
0:04:23 You can increase frequency.
0:04:24 And so you can see like,
0:04:28 am I hitting the same person 20, 30, 50 times?
0:04:30 A lot of times with ads, it’s just a photo, right?
0:04:32 It’s usually a photo for like,
0:04:33 there’s little silly trends.
0:04:37 Like for a long time it was pointing an arrow at something
0:04:40 or zoom in on someone’s face.
0:04:41 There’s like little silly trends
0:04:43 that you’ll see one successful brand do, everyone copies them.
0:04:46 – Yeah, one we had was we would write the ad
0:04:48 in the Notes app on iPhone, take a screenshot of that.
0:04:50 So it looked like someone was sharing a screenshot from Notes,
0:04:52 but it was actually just an ad.
0:04:56 – Yes, and I remember reading or seeing this short video,
0:04:58 it was launched at Sundance actually,
0:05:02 it was like a feature in 2016, maybe you saw this,
0:05:04 but it was about people who have Alzheimer’s
0:05:05 and they were like really bad, you know,
0:05:07 they’re elderly of Alzheimer’s
0:05:09 and they were just out of it all the time.
0:05:12 And so these doctors played music
0:05:14 that the people would have listened to
0:05:16 when they were in their 20s and 30s,
0:05:17 and all of a sudden it clicks
0:05:18 and they start singing the song.
0:05:20 And they’re like, oh, I remember this song,
0:05:23 I was in the army doing this or whatever.
0:05:25 And that’s when I met my wife and then they like have
0:05:27 the next three, four, five minutes
0:05:29 that are like speaking normal.
0:05:33 And it kind of like made me realize music is really important
0:05:33 for that reason,
0:05:36 but particularly for advertising brands and products.
0:05:38 And I’ve been trying to think about
0:05:41 what does a jingle have that makes it work?
0:05:43 And so I have it down to a few things.
0:05:46 And this is a little bit for the modern day jingle,
0:05:47 what it needs.
0:05:49 The first thing that I think it needs
0:05:51 is it needs a little bit of cringiness.
0:05:54 I think with ads, we be like, this needs to be cool.
0:05:56 Like it needs to be a little bit overly cringe.
0:05:58 That’s the second thing that you have to have
0:06:00 is it has to be incredibly repetitive.
0:06:02 For example, do you remember that song?
0:06:04 Don’t you wanna Fanta Fanta?
0:06:07 Don’t you wanna, like you need to say the brand
0:06:08 many, many, many times.
0:06:09 – Like Chiquita Banana.
0:06:12 – Yeah, so the Chiquita Banana ad is actually interesting.
0:06:15 So that ad, it was like a sexy banana dressed up
0:06:17 as like a Cuban lady dancer.
0:06:19 And she was like singing and dancing.
0:06:21 And it was all about when do you know a banana
0:06:22 is ready to eat.
0:06:24 And so she was singing about like you can,
0:06:27 you should peel me back when you see a little bit of brown,
0:06:28 like whatever.
0:06:31 It was kind of like sexualized and awesome.
0:06:34 And that ad would play hundreds of times a day.
0:06:34 It was awesome.
0:06:36 I love what people sexualized stuff, by the way.
0:06:39 My friend Neville had an ad for why you should buy
0:06:40 this set of font from him.
0:06:44 And he was like, when I whisper Geranda,
0:06:46 does it make you weak in the knees?
0:06:48 If so, this is for you.
0:06:49 And so I love when they do that.
0:06:51 And then the last thing you need is a call to action.
0:06:53 So do you remember this song where it’s like,
0:06:57 call J.G. Wetworth, eight, seven, seven cash now?
0:06:58 Do you remember that song?
0:06:59 – Yeah, you can remember full phone numbers
0:07:02 when it comes to a jingle, right?
0:07:03 You started this by saying,
0:07:06 can’t remember your wife or your mom’s number.
0:07:08 But we can remember some company’s phone number,
0:07:11 1-800, whatever, if they put it in a jingle.
0:07:13 – And so this whole kind of rant is,
0:07:14 I think we need to bring them back.
0:07:16 Now the problem is, is that I don’t exactly have
0:07:18 like a consumer brain to do this on.
0:07:21 You do, and you work a little bit more consumer stuff.
0:07:24 – Why can’t you do this for Hampton, by the way?
0:07:25 – I could, and I should.
0:07:27 So that was a bullshit excuse.
0:07:28 – Yeah, thank you.
0:07:31 – Do you see this working with your stuff in consumer?
0:07:35 – Well, I would say in theory, I’m all there with you.
0:07:39 As in a jingle’s work is a non-debatable statement.
0:07:41 Would jingles work for my brand?
0:07:41 Well, why not?
0:07:44 Jingles work, so we’re back to swear one.
0:07:45 Do jingles still work?
0:07:47 Yeah, I’m pretty sure it still works.
0:07:49 I think you might have to tweak the form factor,
0:07:50 maybe make it a little shorter or whatever.
0:07:53 You know, like McDonald’s, like what they do now
0:07:54 is they have their whole commercial
0:07:56 and then it’s ba-da-ba-ba-ba, I’m loving it, right?
0:07:58 Just they just hit that at the end
0:08:00 as like a little five second hook at the end,
0:08:03 which was shorter than maybe how jingles used to be
0:08:05 where it was much more of the whole commercial.
0:08:07 So I think there’s maybe some tweaks
0:08:08 that people are doing to them,
0:08:11 but they for sure still work, so I’m with you.
0:08:13 And I’m also with you that I’m surprised
0:08:16 that they’ve declined because the brain has not changed.
0:08:19 In fact, there’s a thing I think people call
0:08:21 the phonic loop or something like the phonetic loop.
0:08:22 I forgot how they probably,
0:08:25 but it’s like the people who study the brain and the ear
0:08:26 and there’s like neurologists.
0:08:28 There’s even somebody called like a musicologist.
0:08:29 They basically try to figure out
0:08:32 why is it that when we teach kids
0:08:35 that they learn easier through nursery rhymes.
0:08:36 – Yeah, there’s like a nursery rhyme
0:08:38 to like learn your home address.
0:08:39 Like, have you ever seen those?
0:08:43 – Dude, I can tell you Caracas, Venezuela, Lima, Peru, right?
0:08:46 I can tell you like the capitals of South America
0:08:49 that I haven’t thought about in 30 years,
0:08:50 but when I was six years old,
0:08:52 some teacher taught us the song, right?
0:08:54 Or all of the states, right?
0:08:55 I could teach my daughter the states
0:08:58 much faster than I could teach her numbers
0:09:00 because I could turn it into a song.
0:09:02 And so there’s something in this, right?
0:09:04 And I think they call it earworms.
0:09:06 It’s basically what they call it
0:09:09 when a small repetitive snippet of a song
0:09:12 or a slogan or a jingle just gets stuck in your ear, right?
0:09:14 And that’s called an earworm.
0:09:19 And so using this to improve recall, improve memory,
0:09:22 and even make your brand associated with something
0:09:26 that’s kind of fun or upbeat or positive,
0:09:28 definitely has value.
0:09:29 Now, the question is why don’t I or you
0:09:32 or any of us kind of modern marketers use this?
0:09:34 And I think really most people would say,
0:09:37 well, it doesn’t work anymore, the form factor change,
0:09:38 people got over it.
0:09:39 Well, well, I don’t think any of that’s true.
0:09:41 I think it’s just like fashion.
0:09:42 I think it’s marketing fashion trends.
0:09:44 I think it’s out of vogue right now.
0:09:46 And as soon as somebody brings it back in,
0:09:48 it will become a thing again.
0:09:49 – Remember Dat Piff?
0:09:52 That was where like mix tapes were, it was like rappers.
0:09:54 So this was, it was like a little Wayne
0:09:57 would put out like a rap a day on Dat Piff.
0:09:59 And he would just turn these suckers out.
0:10:02 I think you need a certain creative type of person
0:10:03 to be able to do this.
0:10:05 But we can definitely churn these out
0:10:08 in a relatively fast way and see what works,
0:10:10 which is different than a commercial.
0:10:13 But one of the reasons why I think it went a ways,
0:10:14 so the things that you and I liked
0:10:15 when we were nine or eight years old,
0:10:18 by the time we’re 15 to 25, that’s like, that’s lame.
0:10:19 That’s no longer cool.
0:10:20 But then we get in our 30s and we’re like,
0:10:21 oh, I remember that, that was awesome.
0:10:22 You know, that was so cool.
0:10:24 Like it’s kind of like the feeling that you get
0:10:27 when you see a surge, like a surge drink, like a soda.
0:10:29 You’re like, oh, I remember that, that was so awesome.
0:10:31 I remember that as a kid and you get like this nostalgia.
0:10:33 And so I think what we can do
0:10:36 is look at all of the past things that worked well
0:10:38 with the brands that we liked when we were younger.
0:10:42 I really think you can replicate them within like the law
0:10:44 and actually not copy.
0:10:46 And the reason I think that is because
0:10:49 the $5 foot long song and McDonald’s songs,
0:10:49 they’re coming back.
0:10:52 And so they’re reusing a lot of these songs now
0:10:54 because once your customer base is a bit older,
0:10:57 you can reuse the same stuff and it becomes cool again
0:10:57 because it’s nostalgic.
0:11:01 ♪ Ba-ba-ba, I’m subscribed to my first million on YouTube. ♪
0:11:02 There we go.
0:11:03 Well, we can workshop that.
0:11:07 If you want your ad to be memorable, which we all do,
0:11:09 then using one of the most sticky things,
0:11:11 which is like a jingle,
0:11:14 it compresses several things together, right?
0:11:17 A feeling, a positioning, right?
0:11:20 $5 foot long nationwide is on your side, right?
0:11:24 Like it compresses a position plus a feeling
0:11:27 into four seconds, five seconds, seven seconds.
0:11:31 And in a package that is now easily transmissible, right?
0:11:32 You can sing it, you can hum it,
0:11:34 you can tell it to another person,
0:11:36 as well as sticks with you.
0:11:39 So like, of course that’s a good thing if you can do it.
0:11:40 I got something that’s kind of interesting,
0:11:42 totally different angle, but I think you’ll like it.
0:11:44 Are you familiar with Polymarket?
0:11:46 – Is it gambling for crypto?
0:11:47 – Well, that’s one we’ve been looking at it.
0:11:49 It’s a prediction market, which is-
0:11:50 – Yeah, yeah, yeah.
0:11:52 – Sort of an A.O. LeBanay’s situation with gambling
0:11:55 and reframing gambling,
0:12:00 but it actually is a way to go bet on a prediction
0:12:02 that you believe will happen.
0:12:03 So if I go to Polymarket right now,
0:12:08 I’ll see the top bet, $237 million has been bet on
0:12:12 who will be the winner of the 2024 presidential race.
0:12:17 And right now, Trump is a 61% bet, Joe Biden, 19% in odds,
0:12:20 Kamala is 10%, et cetera.
0:12:23 And so you could see for any idea you have
0:12:27 that there could be a betting market for it.
0:12:28 So you can go to sports,
0:12:31 and right now the Euro soccer cup is happening right now,
0:12:34 and Spain is the top favorite bet with 34%,
0:12:36 or you can bet on Wimbledon right now.
0:12:39 But you can also bet in scientific things,
0:12:41 like there’s a bet right now,
0:12:44 what will be the June 2024 temperature increase?
0:12:47 And it’s like, more than 1.09, less than 1.09,
0:12:49 you can bet on will this hurricane
0:12:51 hit the United States, yes or no?
0:12:53 And right now that bet has played out
0:12:54 where if you click it,
0:12:56 you can see that when it started,
0:12:58 it only had the 18% chance of yes.
0:12:59 Right now it’s a 99% chance,
0:13:02 which means it’s about to hit or almost certainly hit.
0:13:04 So that bet has played out or playing out right now.
0:13:06 – And you could see the top betters.
0:13:09 So there’s a guy named Revenge Tour 1984,
0:13:12 who’s bet $2.3 million this week.
0:13:17 – No, I don’t know if it’s that week, I think it’s his–
0:13:19 – It says top volume this week.
0:13:20 – Okay, maybe it is.
0:13:21 If you go to his profile,
0:13:24 so he’s the top better on the platform right now.
0:13:29 So he’s got 1.6 million in bets placed basically,
0:13:32 his positions that are out there.
0:13:34 He’s got a P&L where his profit and loss
0:13:38 is he’s up about a million dollars so far on Polymarket.
0:13:43 And he’s traded $169 million worth of bets.
0:13:45 So like right now, for example, he’s got a bet out,
0:13:50 will JD Vance win the 2024 Republican VP nomination?
0:13:51 He bet it when it was at six cents.
0:13:52 It’s currently at 31 cents.
0:13:54 He could just sell that position today
0:13:58 and bank the profit even though it hasn’t happened yet.
0:13:59 So you can win even if your thing doesn’t win
0:14:01 as long as the odds go up.
0:14:03 So a couple of years ago, I got on Polymarket
0:14:05 and I got really addicted to this thing.
0:14:08 Every day I was going and I basically had like
0:14:11 a $10,000/fund that I was just betting on Polymarket.
0:14:14 And I think I ended up making five or six grand
0:14:16 and then I cashed out because now you can’t do it
0:14:19 in the United States, they like ruled against it basically.
0:14:23 So all of this volume, they’re doing about 50 million
0:14:26 a month in volume, which is huge.
0:14:28 Probably the most popular crypto app right now
0:14:30 is Polymarket.
0:14:33 And so they’ve done 400 million this year
0:14:33 in betting volume.
0:14:35 So they’re on pace for almost a billion dollars
0:14:37 of betting volume this year.
0:14:38 – What did you bet on?
0:14:39 – I used to bet on all kinds of things.
0:14:41 So I would bet on like tech stuff.
0:14:44 So you could bet like will Tesla stock be above this price
0:14:45 until July 31st?
0:14:47 It’s like easier than buying the stock
0:14:49 was just to go and bet, do you think it’ll be here?
0:14:52 Or will they announce this at this time?
0:14:54 I was betting on sports stuff.
0:14:55 So I would bet just like a game.
0:14:56 There’s a game on a Tuesday night
0:14:59 and I could just bet here easier than I could bet
0:15:00 at a sports book.
0:15:02 ‘Cause the way this thing worked was you would just sign in
0:15:03 with your MetaMask wallet.
0:15:04 You didn’t have to do KYC.
0:15:05 You didn’t have to do a bunch of things.
0:15:06 – Who makes the odds?
0:15:08 – There’s no odds makers.
0:15:11 So this is like a, what’s called a automated market maker.
0:15:14 So basically the bet gets created.
0:15:18 And then it’s based on the betting volume.
0:15:19 So if more people start betting no,
0:15:21 then the odds of no go down
0:15:22 because that’s a more popular bet.
0:15:24 If everybody thinks yes,
0:15:26 then buying yes will have less upside for you.
0:15:28 Most of these don’t work like an order book.
0:15:29 There’s not a buyer and seller.
0:15:33 It’s the same way that a lot of the Dex’s work
0:15:37 or the NFT platforms work where it’s an AMM.
0:15:38 – A lot of the bets are weird.
0:15:43 So will Taylor Swift be pregnant in 2024?
0:15:44 – Yeah, 30% chance, right?
0:15:45 Or something like that?
0:15:46 – 21% chance.
0:15:48 – Will Andrew Tate be found guilty
0:15:50 of human trafficking in 2024?
0:15:51 But then there’s weird things.
0:15:54 Like will Trump say the word MAG in 2024?
0:15:56 I don’t know what that word is, MOG.
0:16:00 But can’t he just say that then and win the bet?
0:16:03 – So that’s one of the controversies of betting markets
0:16:06 is that, okay, the easy example is,
0:16:08 oh wow, if I’m Trump,
0:16:10 I could theoretically go place a big bet
0:16:12 and then just say the word.
0:16:14 But there’s a couple of problems with that.
0:16:16 One, the more, like let’s say something like that,
0:16:17 it probably has very thin volume.
0:16:19 So for example, right now–
0:16:20 – It’s $24,000.
0:16:21 – Yeah, $24,000.
0:16:23 So if he went and tried to bet $100,000,
0:16:25 he would swing the odds himself to yes
0:16:27 to the point where it wouldn’t really be worth it.
0:16:29 There’s not much action on the other side.
0:16:32 So basically the yeses win the money from the noes.
0:16:33 And the noes win the money from the yeses
0:16:34 depending on how the bet plays out, right?
0:16:37 There’s no third party that’s involved.
0:16:40 So you would have to do it in one of these
0:16:42 that has like really big volume
0:16:44 if you wanted to make a lot of money.
0:16:47 It says, will Travis Kelsey go for ring number four
0:16:49 and get engaged this year?
0:16:50 – Yeah, exactly.
0:16:51 There’s Elon tweets.
0:16:53 How many tweets will we have this month?
0:16:56 There’s, will TikTok get banned in the US in 2024?
0:16:58 Right now, only 8% chance.
0:16:59 So if you thought that TikTok was gonna get banned,
0:17:02 if you’re Pelosi, you could go and start betting yes,
0:17:04 but that bet only has 29,000 of volume.
0:17:05 So you can’t bet too much.
0:17:08 You can’t make too much of a profit on something like that.
0:17:10 The controversy, the thing that people have always said
0:17:11 about prediction markets,
0:17:14 is that prediction markets become assassination markets.
0:17:16 Meaning, if there was a bet that like,
0:17:19 will this person win or will this person live?
0:17:21 And let’s say there was hundreds of millions of dollars
0:17:24 on the line, you’ve inadvertently created a giant bounty
0:17:26 to go and assassinate somebody.
0:17:28 And this is one of the controversies
0:17:30 around prediction markets,
0:17:34 is that it could become problematic in that way.
0:17:35 But these are not new.
0:17:38 Like crypto is a new way of doing it,
0:17:40 but these have been around for a long time.
0:17:44 Like historically, people felt that prediction markets
0:17:47 were more accurate than polls, right?
0:17:49 So let’s say you wanted to say,
0:17:50 who’s gonna win the election?
0:17:53 They would go do a poll, you have a very small sample size.
0:17:55 People might say one thing and then do another,
0:17:59 which is like what happened when Trump won, I think 2016,
0:18:03 was he was polling far less than what actually happened
0:18:04 when people went to the ballot booth
0:18:07 because they didn’t wanna admit where they stood.
0:18:08 Whereas prediction markets,
0:18:10 because you’re putting money on the line,
0:18:11 it’s just more predictive,
0:18:14 it’s more accurate versus just general polling.
0:18:17 And so this used to be a really popular thing.
0:18:19 There was in fact, even like on the stock market,
0:18:20 you could go and bet this way.
0:18:24 Wall Street was like a hub for prediction bets.
0:18:26 But then after World War II,
0:18:28 there was kind of a social stigma around it.
0:18:32 Newspaper stopped quoting it and they shifted to polls.
0:18:34 But I think it’s swinging back
0:18:35 where we’re gonna go away from polls
0:18:36 and back to prediction markets.
0:18:38 And so my prediction of this whole thing
0:18:42 is that polly market is gonna be massive
0:18:45 that in this presidential election,
0:18:47 it’s gonna have just like a huge run up this year
0:18:50 because already you can see that whenever,
0:18:53 when anybody is writing about the odds of something about,
0:18:54 let’s say the election,
0:18:56 they’re referencing polly market
0:18:58 and they’re embedding polly market in their articles.
0:19:00 – They’re doing that now or you think they will.
0:19:01 – It’s already happening.
0:19:02 It’s already happening.
0:19:03 It’s why it’s got this huge surge.
0:19:04 I think a couple of months ago,
0:19:06 they had over a hundred million embedding volume.
0:19:09 And it was because it’s made for TV.
0:19:12 It’s made to be embedded in articles.
0:19:14 And in fact, I think they should take this further
0:19:17 and make their little bedding widget
0:19:19 much easier to share and much easier to embed
0:19:21 inside of articles, inside of news things.
0:19:23 So they’re gonna need to quote
0:19:25 what the predictions are around,
0:19:28 interest rates around presidential stuff.
0:19:29 It’s just gonna continue to grow that way.
0:19:31 And so I think polly market is actually
0:19:33 sort of a media company, a decentralized media company
0:19:36 where it has really interesting data
0:19:39 that every other media company is gonna wanna reference
0:19:41 and that’s gonna just drive this surge.
0:19:43 And they’ve also had just really viral bets.
0:19:45 So right now, one of the viral bets
0:19:47 is obviously the presidential election stuff.
0:19:49 But remember when the idiots went down
0:19:51 to the Titanic and the submersible?
0:19:53 That was one of the most viral bets.
0:19:57 I think they had like $60 million bet on that one thing
0:20:00 of like, what’s gonna happen with the submersible?
0:20:02 So, you know, they can go viral.
0:20:04 Like just yesterday, it had five million in volume.
0:20:07 And so business is booming for polly market.
0:20:09 – Who started it and when did it start?
0:20:12 – This guy, Shane Copeland, I think is his name.
0:20:14 And he started in 2020.
0:20:17 So this is not a very old business.
0:20:18 This is, you know, pretty recent,
0:20:20 three, four years that’s been out.
0:20:23 And he, I think it’s like his first thing.
0:20:26 He, his LinkedIn, when I was honored earlier was like,
0:20:28 he was an intern at Rap Genius.
0:20:29 He was an intern at some other place.
0:20:30 And then he created polly market
0:20:31 and he’s been doing that for four years now.
0:20:33 – Did they raise money?
0:20:35 – Yeah, they just raised a big round.
0:20:38 So it was pretty, it was pretty under the radar
0:20:42 and actually sort of, you know, seemed sort of sketchy before.
0:20:43 Like when I was betting on it,
0:20:45 people I remember telling me like, what are you doing?
0:20:47 Do you, you put real money onto this thing?
0:20:49 And I was like, yeah, it’s awesome.
0:20:50 And they’re like, who runs this?
0:20:51 Is this legal?
0:20:52 And I was like, I don’t really know.
0:20:53 You know, I’m not sure.
0:20:57 It just, it looked like a very thin, thin app at the time.
0:21:00 But they just raised $75 million from Founders Fund
0:21:02 and Joe Gabia and Vitalik
0:21:04 and a whole bunch of other heavy hitters.
0:21:08 And so it’s obviously become a lot more legitimized.
0:21:10 – I hate talking about gambling
0:21:12 because I’m like, I don’t want to sound like
0:21:16 my farts don’t smell like a guy or what, like I’m better.
0:21:19 But I am because I hate gambling.
0:21:20 Like I don’t, I don’t like gambling
0:21:22 and I don’t particularly love products
0:21:25 that make it more popular,
0:21:27 which is weird because I have vices.
0:21:28 Like I love nicotine and shit like that.
0:21:30 So I would be bummed if no one made that stuff.
0:21:33 But I feel weird making this more popular.
0:21:35 You know what I mean?
0:21:36 – I understand.
0:21:37 I don’t know.
0:21:38 Obviously I enjoy betting.
0:21:39 I’ve bet on many things.
0:21:41 I have a bit of a betting problem, I would say.
0:21:43 It’s the honest way of explaining it.
0:21:44 – It’s like porn.
0:21:47 We consume it, but we’re like, you know,
0:21:49 that’s disgusting that you would do this for a living.
0:21:52 – That’s disgusting.
0:21:54 – Yeah.
0:21:57 – But I think there is actually a lot of value in this.
0:21:59 So I think that the wisdom of the crowds
0:22:00 has always been a phenomenon.
0:22:02 I’ve been interested in.
0:22:04 And I think it’s just a more pure form of information.
0:22:07 Like I think that it is very easy for the news
0:22:11 to tell you one thing or random polls to be quoted and claimed.
0:22:13 Like I like things that are more ground truth.
0:22:16 And I don’t know, like more ground truth
0:22:18 is a actual betting market on something.
0:22:20 That is what people actually believe.
0:22:21 And the wisdom of the crowd,
0:22:24 it is very hard to beat the wisdom of the crowds
0:22:25 when it comes to betting.
0:22:27 – I don’t know if I buy that yet,
0:22:30 mostly because I’m ignorant to these predictive markets.
0:22:35 In 2016, what did, whatever existed before poly market,
0:22:36 what did it say about the election?
0:22:39 – It wasn’t as popular back then.
0:22:41 So there’s been like auger
0:22:43 and a couple other crypto prediction markets,
0:22:46 but they were never mature enough.
0:22:48 They didn’t have enough volume
0:22:51 or the people that consumed the only crypto degenerates.
0:22:53 And so only crypto degenerates skewed one way.
0:22:55 It’s almost more like a poll in that case.
0:22:57 So I’m not sure what they said then.
0:23:00 All I know is that all of the polls were wrong.
0:23:01 538 was wrong.
0:23:04 All of this sort of like data science around polling
0:23:05 was so wrong during that.
0:23:08 And I know that also that the other unrelated data point
0:23:11 is that one of the things that helped FTX take off back then
0:23:14 was Sam Bakeman Fried was one of the first
0:23:19 to put political bets on his platform, I think in 2020.
0:23:21 And it was a big accelerant for FTX
0:23:25 was letting people bet on election information back then.
0:23:27 And people around the world wanted to bet.
0:23:30 And so it was a way to attract a lot of liquidity
0:23:31 to FTX at the time.
0:23:34 – What was his like philosophy, SBS philosophy?
0:23:36 It was like, what was it called altruism?
0:23:38 – Yeah, effective altruism.
0:23:40 – But doesn’t him having betting on his website
0:23:42 go against that?
0:23:43 – No, not at all.
0:23:46 Effective altruism doesn’t mean no sin, no vice.
0:23:48 Effective altruism basically means
0:23:50 make as much money as you can.
0:23:53 The highest impact way to give and contribute to the world
0:23:56 is to first like do something that’s going to accumulate
0:23:59 a huge amount of capital so you can reallocate it
0:24:01 like getting them addicted to things
0:24:02 that they spend all the money on.
0:24:07 – If you’re Sam Bakeman Fried, you are more value.
0:24:08 Like you have two choices.
0:24:09 You could go work for a non-profit
0:24:12 or go volunteer in a soup kitchen and pour soup every day,
0:24:15 but that’s a pretty low leverage way to contribute
0:24:17 versus if you become a billionaire
0:24:19 and you give away a billion dollars,
0:24:21 you have done more good that way.
0:24:23 And so effective altruism is basically working
0:24:25 for the purpose of accumulating as much capital
0:24:26 to give away as possible.
0:24:28 Now in his case, he turned out to be
0:24:30 a liar and a fraud on many accounts, right?
0:24:32 So it’s not, I think he sort of tanked
0:24:34 the brand of effective altruism,
0:24:35 which probably is a little unfair.
0:24:37 He also tanked the brand of crypto,
0:24:38 which is a little unfair.
0:24:39 People were like, oh, crypto is a scam.
0:24:41 It’s like, no, this dude scammed crypto.
0:24:44 He tricked, he lied to the crypto community basically.
0:24:46 He was taking money and not like, you know,
0:24:48 somebody would go try to buy Bitcoin on his platform.
0:24:50 And instead of buying Bitcoin,
0:24:52 he would just tell them that he bought Bitcoin,
0:24:54 take the money and do something else with it all together.
0:24:56 He was deceitful is very different
0:24:59 than saying crypto was deceitful.
0:25:01 – The New York Times had this podcast the other day
0:25:05 about this woman who got addicted to DraftKings
0:25:08 or FanDuel or what, I think they’re the same thing.
0:25:10 And she told this story about how she was
0:25:15 like a $150,000 a year earner and she got addicted to it.
0:25:18 And one of the reasons why she got addicted to it was,
0:25:20 A, she just is an addict, whatever,
0:25:25 but B, if they assign an account manager to you,
0:25:27 just like you do when you want to upsell software.
0:25:30 And they’re like, hey, I see you’re spending on this.
0:25:32 We’ve got this new game called this, this and this.
0:25:34 I’m willing to give you like a $500 credit
0:25:36 in order to get your, you can whet your whistle a little bit
0:25:38 and try this out.
0:25:41 And she was like telling the story and I’m listening to this.
0:25:43 I’m like, hey, that’s the same tactics we did
0:25:45 to like get people to buy ads.
0:25:46 Like you like say, like, hey, you know,
0:25:48 you’re a new customer, we’ll hook you up this time.
0:25:49 And hopefully you get addicted to us.
0:25:50 You want to give us more money?
0:25:53 But they are doing that with this woman when she was in,
0:25:55 she eventually got into $350,000 a debt.
0:25:59 And she got divorced, there was like a whole issue.
0:26:02 And she was like, they’re still sending me emails
0:26:04 trying to get me to like try these new games
0:26:06 and I want to try them so bad.
0:26:07 Like they sound so awesome.
0:26:09 – Oh God.
0:26:11 – And so kind of this whole online gambling thing
0:26:13 kind of left a bad taste in my mouth,
0:26:15 particularly because now you watch,
0:26:16 UFC is the only sports.
0:26:18 – By the way, same thing happens in like,
0:26:19 you know, a bunch of different fields,
0:26:22 but also just the entire mobile gaming market,
0:26:25 the things that look very harmless, Candy Crush,
0:26:28 these, all the mobile gaming companies work the same way.
0:26:29 They’re all hunting for whales.
0:26:33 The whole business is you go try to acquire 100,000 users
0:26:34 and you’re looking for the few users
0:26:37 that are going to spend $100,000 inside your app.
0:26:38 – And are people doing that with games
0:26:40 where they spend a hundred grand?
0:26:42 – Of course, yeah, this, I mean, Candy Crush
0:26:45 and the entire like casual mobile gaming thing
0:26:49 that looks like these silly innocuous free-to-play games,
0:26:52 they’re based on, there’s women in the Midwest
0:26:54 who are going to dump tens of thousands of dollars
0:26:56 into each game that they get hooked on.
0:26:57 And those are what they work for.
0:26:58 They work for whales.
0:26:59 They’re trying to find whales.
0:27:02 Whales are obviously the most profitable customer.
0:27:03 And in that, you can’t even win anything, right?
0:27:05 It’s not even like gambling where there’s nothing to,
0:27:07 there’s no money, there’s no money to be made in it.
0:27:08 It’s just money to be spent.
0:27:10 – You had friends at the gaming industry,
0:27:13 or at least you knew them better than my friends
0:27:14 who work in the gaming industry.
0:27:16 How many times did they say they had a customer
0:27:19 that would spend 50 or $100,000 on a game?
0:27:21 – We’ve been having time.
0:27:23 That’s like, I guess like,
0:27:26 I guess how big is the scale of people
0:27:28 willing to spend that much?
0:27:29 – It’s very large, dude.
0:27:30 This is, I mean, this is how they make,
0:27:32 these games make like a billion dollars in revenue.
0:27:35 – I thought that was like everyone buying
0:27:36 like a $20 a month thing.
0:27:37 – No, no, no.
0:27:40 It’s most players spend nothing, right?
0:27:42 Vast majority of players will spend nothing.
0:27:44 Then there’s a segment of people
0:27:46 that are going to spend a small amount.
0:27:47 And there’s a very small segment of people
0:27:48 that are going to spend a huge amount.
0:27:50 And the total thing blends together
0:27:51 where you’re like, “Oh, our poo,
0:27:54 our average revenue per customer is $7 or $10.”
0:27:57 But it’s not every customer spends $7 to $10.
0:27:59 It’s that most spend zero,
0:28:01 a few will spend $23 on average,
0:28:04 and then a few will spend $23,000, right?
0:28:06 That’s more of how it looks
0:28:07 when you look at the distribution of these things.
0:28:08 – That’s insane.
0:28:09 – Ben used to work at FanDuel,
0:28:12 and he was like, “Yeah, dude, part of the program I had.”
0:28:14 I think he was like employee 30 or 40 at FanDuel.
0:28:16 He’s like, you know, I basically oversaw this program
0:28:17 or he was like associate with some program
0:28:20 that was like the whale VIP white glove service.
0:28:23 It’s like, oh, if you’re betting and losing this much money
0:28:26 or even winning, you’ll eventually lose it.
0:28:29 So if you’re betting a certain volume, guess what?
0:28:30 It’s the Super Bowl.
0:28:30 We want to fly you out.
0:28:31 You’re going to come visit.
0:28:32 Hey, we’re in New York.
0:28:33 We want to invite you to this private dinner.
0:28:36 And there’s a whole VIP program, white glove program,
0:28:38 where, hey, we got your tickets to this game,
0:28:41 and they’re going to make you feel like a rock star.
0:28:42 – Is it just one of the other degenerates
0:28:43 sitting around the dinner table like,
0:28:44 hey, what do you want to bet that
0:28:46 the meal’s going to be chicken?
0:28:47 – Yeah, and these are willing participants.
0:28:48 These are adults.
0:28:52 Now, I would say, obviously, some people ruin themselves.
0:28:53 They get addicted to gambling,
0:28:55 just like people get addicted to everything,
0:28:57 social media and drugs and vape.
0:28:58 And, you know, there’s a ton of things
0:29:00 that people get addicted to and it’s not good for them.
0:29:02 I definitely agree with that.
0:29:03 That is, that is for sure a thing.
0:29:06 And you will always see news about that
0:29:09 because A, it’s happening and B, it’s makes for good news.
0:29:11 Big company ruined this person’s life, right?
0:29:13 That’s always going to be a thing.
0:29:14 Guess what?
0:29:15 Robin Hood is designed the same way.
0:29:17 Robin Hood is literally designed like a mobile game
0:29:19 to get you addicted to trade,
0:29:21 to get you to try to trade as much as you can.
0:29:22 They make money every time you make a trade.
0:29:24 They don’t make money by you buying a low-cost index fund
0:29:26 and holding it for 20 years.
0:29:28 They make money by getting you to buy Robin Hood gold
0:29:31 to trade options and be day trading.
0:29:34 And so Robin Hood, which is this like name of like the,
0:29:36 we’re going to steal from the rich and give to the poor,
0:29:37 is doing the exact opposite.
0:29:39 It’s basically steal from the dumb and give to themselves.
0:29:41 And that’s what Robin Hood is.
0:29:45 So here’s the deal.
0:29:49 I made most of my money from a newsletter business.
0:29:50 It was called The Hustle.
0:29:51 And it was a daily newsletter at scale
0:29:53 to millions of subscribers.
0:29:55 And it was the greatest business on earth.
0:29:59 The problem with it was that I had close to 40 employees
0:30:02 and only three of them were actually doing any writing.
0:30:04 The other employees were growing the newsletter,
0:30:06 building out the tech for the platform and selling ads.
0:30:09 And honestly, it was a huge pain in the butt.
0:30:12 Today’s episode is brought to you by Beehive.
0:30:16 They are a platform that is built exactly for this.
0:30:17 If you want to grow your newsletter,
0:30:18 if you want to monetize a newsletter,
0:30:20 they do all of the stuff that I had to hire
0:30:22 dozens of employees to do.
0:30:24 So check it out, behive.com.
0:30:28 That’s B-E-E-H-I-I-V.com.
0:30:34 – So I’m going to place a bet on this.
0:30:36 I’m going to, that’s what I’m saying.
0:30:38 I’m going to bet that Justin Bieber
0:30:39 is going to be having a baby boy.
0:30:40 – You can’t, you’re in the US.
0:30:41 You’re not going to be able to make a bet.
0:30:44 You can’t, and how do they, how do they,
0:30:45 how do they track that?
0:30:47 – I think it’s just like your IP address right now.
0:30:49 I don’t know what else they do.
0:30:52 – God, this is horrible and awesome.
0:30:53 I like this one.
0:30:54 I can’t believe this exists.
0:30:55 That’s pretty wild.
0:30:56 – All right, let’s take a quick break.
0:30:58 I want to tell you about Wander.
0:31:00 So it’s summer, planning summer vacations.
0:31:03 And if you’re going to try to get away,
0:31:05 one of the best ways to get away is through Wander.
0:31:09 They have amazing luxury homes that you can stay in.
0:31:11 It’s sort of like staying in a five-star hotel,
0:31:12 but it’s a home.
0:31:14 So you get kind of the best of the home vibe
0:31:17 and the luxury amenities and turnkey experience
0:31:18 of a hotel all in one.
0:31:19 So check out Wander.
0:31:20 They have so many cool locations.
0:31:24 I’m taking one trip on Wander in about a month or so to Tahoe.
0:31:25 They have a really cool property there.
0:31:28 But go to wander.com/mfm and just browse.
0:31:31 You can just see like really amazing places to stay
0:31:33 that make for great family trips
0:31:35 or even like corporate offsites are great
0:31:36 because these locations are so baller.
0:31:37 So check this out.
0:31:39 And if you go to wander.com/mfm,
0:31:41 you can enter in to get a free trip giveaway.
0:31:43 So they’re giving away a trip to one listener
0:31:45 as well as if you download the app
0:31:47 and you get $300 free travel credit.
0:31:48 So that’s pretty awesome.
0:31:51 So check it out wander.com/mfm.
0:31:51 – All right.
0:31:52 What do you want to do one more thing?
0:31:54 What do you got?
0:31:55 – Okay. I want to do one thing.
0:31:58 You said something earlier about jingles, catchy things.
0:32:00 And I was sitting in a meeting
0:32:03 and I was sitting in a meeting
0:32:05 and there was somebody who was prolific.
0:32:08 Like if Kendrick Lamar wore a suit
0:32:11 and sold B2B software, that was this guy.
0:32:12 This guy had lyrics.
0:32:14 He was lyrical with his corporate slang
0:32:17 and it got me thinking about epic corporate slang
0:32:20 and some of my favorite greatest hits of corporate slang.
0:32:22 And I just started thinking, you know, we need some more.
0:32:24 And so I wanted to play a little game with you.
0:32:25 So I’d like to play a game.
0:32:26 I texted you this.
0:32:29 I said, I want you to think of this.
0:32:31 Think of corporate slang that doesn’t exist,
0:32:34 but it should because we’re innovators here on the podcast
0:32:35 and I want to come up with some slang.
0:32:37 I think it would be a fun claim to fame
0:32:40 if we could just make something stick with corporate slang.
0:32:43 So I say we go back and forth like a rap battle
0:32:45 with this is corporate slang that doesn’t exist,
0:32:46 but it should.
0:32:48 – All right, you have more than me.
0:32:51 I didn’t, I came with about four or five.
0:32:52 You have a bunch of them.
0:32:53 This is right in your wheelhouse.
0:32:54 So let’s see what we can do though.
0:32:56 – All right, let me give my phone.
0:32:59 All right, so the first one is going to be,
0:33:01 is the first one.
0:33:04 One man’s Thanksgiving is another man’s Thursday.
0:33:08 And this is for any situation where you are,
0:33:10 when somebody’s really excited about something
0:33:14 that to you is just normal or even lame,
0:33:15 but hey, it’s their Thanksgiving.
0:33:16 It might just be Thursday to you,
0:33:17 but it’s their Thanksgiving.
0:33:20 So it’s kind of a way to throw shade in a corporate setting
0:33:22 when somebody is overly excited about something
0:33:25 that’s actually just normal or average.
0:33:26 And you just say, hey man,
0:33:28 one man’s Thanksgiving is another man’s Thursday.
0:33:30 And you just plant that seed and you just leave it with them.
0:33:32 And they’ll realize later that they just,
0:33:34 they just had shade thrown at them.
0:33:36 – And that’s a phrase that you need to use.
0:33:38 And when someone is like, wait, what?
0:33:40 And you’re like, what, you don’t know what that means?
0:33:42 – You know what I’m saying.
0:33:43 – Yeah, like.
0:33:45 – It’s just one of those things they say.
0:33:46 – Yeah, like when I was a kid,
0:33:49 I thought it was a go out there and break an egg,
0:33:51 not go out there and break a leg.
0:33:52 (laughing)
0:33:54 You know what I mean?
0:33:57 So we’ll make that a phrase or instead of cat like reflexes,
0:33:59 I thought it was Cadillac reflexes.
0:34:02 (laughing)
0:34:07 – It’s not even corporates.
0:34:10 Like these are just like stutters that you had.
0:34:12 – Yeah, yeah.
0:34:13 So I used to say for years, like, you know,
0:34:15 go out there, have fun, break an egg.
0:34:17 (laughing)
0:34:19 So that’s how you need to use this phrase.
0:34:21 All right, I have got one.
0:34:23 All right, we’re going to call it bubble wrap.
0:34:26 As in when someone, like do you have any employees
0:34:27 that are overly sensitive?
0:34:29 And when you bring news to them,
0:34:32 you have to be like, how are we going to phrase this?
0:34:35 – Oh, so it’s like, we got a bubble wrap this?
0:34:38 Yeah, like, all right, we have to tell this guy
0:34:40 about this thing, but we got to bubble wrap his ass.
0:34:42 And we got to bubble wrap this phrasing.
0:34:44 And we got to figure out how we can deliver this.
0:34:46 So it doesn’t like totally crush him
0:34:48 instead of just saying, hey, we’re not doing that anymore.
0:34:49 Your idea sucked.
0:34:51 We got to bubble wrap it.
0:34:52 So we got to bubble wrap it.
0:34:54 – Okay, so it’s actually like a,
0:34:55 it’s like, I like what you’re saying, you’re right,
0:34:57 but we’re going to need to bubble wrap that
0:34:57 before it goes out.
0:34:59 – Yeah, yeah, yeah, yeah, yeah.
0:35:01 So you have to say it in a more sensitive way,
0:35:04 not to freak a particular person out
0:35:06 because that person, when you talk to them,
0:35:08 you got to bubble wrap them before you talk to them.
0:35:09 So we’re going to call a bubble wrap.
0:35:11 – Like, I like that one, that’s strong.
0:35:12 All right, I got another one.
0:35:13 Alohomora.
0:35:15 So making email intros sucks.
0:35:16 I hate doing it.
0:35:17 It’s like, oh, can you introduce this person?
0:35:19 I got to say, hey, Bob, meet me, Sean.
0:35:21 He’s this guy, he’s this guy.
0:35:23 I’m shortening it to one word.
0:35:25 We’re using the Harry Potter word, alohomora,
0:35:27 for the spell that just is like unlocking doors.
0:35:28 So that’s what I’m going to do.
0:35:29 I’m going to go do an email thread.
0:35:34 I’m just going to say Sam, Bob, alohomora, but voice.
0:35:35 Alohomora, fellas.
0:35:38 I’ve unlocked the doors here, go on through.
0:35:41 And that’s it, I’m shortening it to one thing.
0:35:43 – What, but what’s that word from?
0:35:46 – Harry Potter, it’s the spell he uses to unlock any door.
0:35:49 – Oh my God, all right, that one’s extra nerdy.
0:35:52 All right, I’ve got another one.
0:35:55 All right, so you know how in the Google calendar,
0:35:58 the default is typically 30 minutes?
0:35:59 I hate that.
0:36:01 So we’re going to call this, or we’re going to say,
0:36:03 so we’re going to use this word when it’s like,
0:36:06 hey, put something on my calendar and let’s sync storm it.
0:36:07 We’re just going to sync storm it.
0:36:10 So it’s by default, it’s a five minute meeting.
0:36:13 So let’s just sync storm, you know,
0:36:14 and some people say like, let’s sync up.
0:36:17 And it’s always either default 30 or 60 minutes.
0:36:19 Now fuck that, we’re going to sync storm this.
0:36:21 We’re going to hit done in just about four or five minutes.
0:36:23 So hey, just put something on my calendar,
0:36:24 put a little sync storm on my calendar
0:36:26 and we’re going to bang this out.
0:36:28 – I love it because the other person’s going to have no idea
0:36:28 what you mean by that,
0:36:30 but it sounds like they’re supposed to know.
0:36:31 So yeah, no problem.
0:36:34 I love sync storming, it’s one of my favorite things to do.
0:36:35 And they’re going to walk away and be like,
0:36:37 what the hell am I supposed to do?
0:36:39 – Well, we got to sync storm the summer bitch.
0:36:43 – It’s also nice because it’s a way they’re like,
0:36:45 it’s the equivalent of dating a first date
0:36:46 and being like, they’re like, hey, let’s grab dinner.
0:36:49 And you’re like, let’s do drinks.
0:36:50 – Yeah, yeah, yeah.
0:36:51 – It’s actually that.
0:36:54 – Yeah, you got to sync storm it.
0:36:55 All right, what do you have?
0:36:57 – All right, we got to crash the boards here.
0:36:58 So this is a sports one
0:37:00 that’s going to be used in the corporate setting.
0:37:01 So it’s when you’re emailing people,
0:37:03 but you’re not following up hard enough.
0:37:06 So you’re emailing a prospect, you’re trying to do a sale.
0:37:07 And you notice there’s just no follow-up.
0:37:08 There’s no follow-up email.
0:37:10 So either you could just use it,
0:37:12 like when you’re following up, you can be like,
0:37:14 hey, I’m just crashing the boards here.
0:37:15 Or you could tell your sales team,
0:37:18 be like, hey, we really got to crash the boards here, fellas.
0:37:19 And they know, oh, that means we got to really
0:37:21 just follow up strong.
0:37:24 – I used to use the word blitzkrieg
0:37:25 when referring to that.
0:37:28 And then I realized that referencing World War I,
0:37:30 World War II, Germany and their military tactics
0:37:33 probably wasn’t the best thing.
0:37:34 It’s so crashing the boards.
0:37:35 – Yeah, you’re a little too blonde-haired blue-eyed
0:37:36 to be using that one.
0:37:37 – Yeah, yeah, yeah.
0:37:39 We had to bubble wrap blitzkrieg
0:37:40 and use crashing the boards.
0:37:43 That’s pretty good.
0:37:43 – You got another one?
0:37:47 – Yeah, so let’s do, all right.
0:37:49 So you know how when you have a meeting,
0:37:52 and oftentimes, even if it’s a good idea,
0:37:57 you still, it turns into a vote a lot of times,
0:37:58 where it’s like, look, not everyone thinks
0:38:00 that’s a good idea, so we’re not going to go with it.
0:38:01 Even though a lot of times,
0:38:03 the non-popular choice is the good one.
0:38:06 And so what you do is you try to be political
0:38:09 and get people on your side before the meeting.
0:38:12 And so they vote for your idea or whatever.
0:38:14 We’re going to call that landsliding.
0:38:15 Look, we’re going to have a meeting,
0:38:17 but we got to landslide this in advance.
0:38:19 We got to get everyone to vote for our side,
0:38:21 and we got to landslide this meeting.
0:38:23 This idea needs to get landslided.
0:38:25 So we’re going to call it landslide.
0:38:27 – That’s powerful, I like that.
0:38:28 All right, this is when you got an employee
0:38:32 who, it’s sink or swim, you got somebody new,
0:38:34 and you need to really figure out what they’re made of.
0:38:36 Are we boiling eggs or potatoes here?
0:38:38 And it’s a way to ask about somebody,
0:38:39 what they’re really made of,
0:38:42 ’cause when you, like a potato starts out really hard,
0:38:44 but if you boil it, it gets soft,
0:38:45 but an egg starts out soft,
0:38:48 but if you apply some heat, it gets hard.
0:38:50 You want eggs, you don’t want potatoes in your company.
0:38:53 And so that’s where you put that out there.
0:38:55 And it’s when times are getting tough
0:38:56 and people are wilting,
0:38:59 they’re folding under the pressure, under the heat,
0:39:00 you just got to ask,
0:39:02 are we boiling eggs or potatoes here?
0:39:02 – That’s a good one.
0:39:05 I think that’s an old phrase from the South.
0:39:06 Haven’t I heard like grandpas say that?
0:39:08 Have you ever heard that?
0:39:11 – I have not, but maybe I’ve been told I have an old soul.
0:39:12 So maybe that’s where they’re at.
0:39:13 – That’s a good one.
0:39:15 All right, this is the last one that I have.
0:39:17 We’re going to call, all right.
0:39:18 So you know, you were just in a meeting
0:39:21 where a guy was saying a lot of jargon,
0:39:23 or oftentimes you’ll be in a meeting and like,
0:39:24 people are lying.
0:39:26 They’ll be like, well, we’re doing great.
0:39:28 And it’s like, well, we’re not really doing that great.
0:39:29 And so for that,
0:39:31 we’re going to use the phrase bullshit bingo.
0:39:32 It’s like, hey, are we having a meeting
0:39:33 about what we’re going to do?
0:39:37 Or are we just playing bullshit bingo and winning right now?
0:39:39 This meeting is just a game of bullshit bingo
0:39:40 and we’re killing it.
0:39:44 And so, yeah, it’s like,
0:39:47 Sean, look, you’re telling me all this nonsense.
0:39:50 I think your board is full for bullshit bingo.
0:39:51 This is just nonsense.
0:39:53 And so we’re going to call it bullshit bingo.
0:39:54 I like that one.
0:39:55 – It’s a way to call someone out,
0:39:57 but because it’s an alliteration,
0:39:59 it just bubble wrapped it just enough.
0:40:00 – Yeah.
0:40:01 – Bubble wrap is the real winner here.
0:40:02 It sounds like.
0:40:03 (laughing)
0:40:04 All right, I got one last one.
0:40:08 This is similar to a situation where somebody’s,
0:40:09 we’re trying really hard,
0:40:11 but we’re working on the wrong things.
0:40:14 Feels like we’re just massage and elbows here.
0:40:15 It’s when you’re working on a problem
0:40:16 and you’re working really hard,
0:40:19 but you’re working on something that doesn’t really matter.
0:40:21 There’s not enough meat on the bone there.
0:40:22 And so you’re just massage and elbows.
0:40:26 It’s the wrong place to be applying the effort.
0:40:27 – I like that one.
0:40:28 I like that one.
0:40:30 But you have one more that I think you should,
0:40:31 you should finalize with.
0:40:32 The one about a tree.
0:40:36 – So this one came from Diego,
0:40:37 ’cause I was very sorry with him.
0:40:41 And he goes, it’s when you have an employee.
0:40:43 Okay, so the phrase is,
0:40:46 I think we’re trying to teach a fish how to climb a tree.
0:40:47 And it’s when you have an employee
0:40:48 and you put them in a position
0:40:50 that’s not really their core strength.
0:40:52 They’re great as a fish, but they need to be in water.
0:40:53 And you put them in a position,
0:40:55 maybe it’s a technical person,
0:40:56 you got them on sales calls.
0:40:59 And we’re trying to teach a fish how to climb a tree here.
0:41:00 And you just be better off
0:41:02 putting them in their natural environment
0:41:03 and letting them succeed there
0:41:07 than really just working against the laws of nature.
0:41:09 – Have you used any of these phrases yet?
0:41:12 – I’m gonna start.
0:41:14 This was a sink storm.
0:41:15 And so now I’m ready to start.
0:41:19 – Nice.
0:41:21 There was this TikTok I saw where it was this teacher.
0:41:25 And he goes, my new favorite thing is to talk to my Gen Z
0:41:28 or whatever students and to say phrases
0:41:31 and then gaslight them that they don’t know what they are.
0:41:32 He’s like, I just make up phrases.
0:41:35 And I think one of them was Pebbles.
0:41:37 He was like, Pebbles is like the opposite of a mountain
0:41:39 or the opposite of a boulder.
0:41:41 So it’s like, hey, why are you trying over this problem?
0:41:42 This is a small problem.
0:41:43 It’s Pebbles, baby.
0:41:45 Like you don’t have to freak out about this.
0:41:47 And he would just like throw these phrases in.
0:41:48 – Dude, that’s pretty sick actually.
0:41:50 – Pebbles is a good one.
0:41:52 And I think another one was he was like parked.
0:41:56 So it was, when the day is going really slow
0:41:57 or something’s not moving.
0:42:02 So for example, man, it’s only lunchtime now.
0:42:06 Like this day is so parked and like it’s going so slow.
0:42:08 And so he would use it in this TikTok.
0:42:09 He’s like, I use these phrases.
0:42:11 And they look at me and they’re like,
0:42:12 what does that mean?
0:42:13 And I’m like, you don’t know what that means.
0:42:15 Like nerd, you know?
0:42:17 That’s what we have to do with the bubble wrapped
0:42:19 or teach it how to climb a tree.
0:42:20 Or like, how do you not know what that means?
0:42:22 We just had, we have to act like it’s normal.
0:42:24 And so when we have a–
0:42:25 – Had potential.
0:42:29 First of all, parked and Pebbles, I think are elite.
0:42:30 I don’t know.
0:42:32 I think bubble wrap is pretty elite to be honest.
0:42:35 But in the YouTube comments, let us know which one was,
0:42:37 which one you’re going to actually adopt.
0:42:38 Which one was, was ready to go.
0:42:42 – We have to have some like buttoned up billionaire
0:42:44 guests or something on and just like–
0:42:46 – Oh, we just start using them?
0:42:48 – We’re just start using them.
0:42:49 People use them so many times.
0:42:52 And just like, for example, do you remember that movie
0:42:54 Super Troopers where there are cops and they’re like,
0:42:55 hey, you want to play the meow game?
0:42:57 And so instead of saying now, they use the like,
0:42:59 give me your license, write meow.
0:43:00 And they’re like, let’s see if we can play.
0:43:02 Let’s, let’s see who can save me out the most.
0:43:03 – How many we can put in here, yeah.
0:43:05 – That’s what we have to do with our next guest is like,
0:43:08 so like, Darmesh, did you like, were you able to give it
0:43:10 to him Blanche or did you have to bubble wrap it?
0:43:11 You know what I mean?
0:43:13 (laughing)
0:43:16 – Just see, do they react or do they try to roll with it?
0:43:19 – Yeah. (laughing)
0:43:20 Are we gonna wrap up here?
0:43:21 Is that it?
0:43:24 Are we gonna, was this podcast a sick storm?
0:43:26 – Yeah, I think we gotta end it there.
0:43:28 – All right, that’s the pod.
0:43:29 ♪ I feel like I can rule the world ♪
0:43:32 ♪ I know I could be what I want to ♪
0:43:35 ♪ I put my all in it like no days off ♪
0:43:38 ♪ On the road, let’s travel never looking back ♪
0:43:48 [BLANK_AUDIO]
Episode 609: Sam Parr ( https://twitter.com/theSamParr ) and Shaan Puri ( https://twitter.com/ShaanVP ) break down the genius marketing tactics used by the brands you can’t get out of your brain–no matter how much you want to.
—
Show Notes:
(0:00) The history of jingles (Bring them back!)
(11:07) Prediction: Polymarket is going to be massive
(21:25) The wisdom on the crowd phenomenon
(26:36) How gaming apps hunt for whales
(31:00) Corporate Slang That Doesn’t Exist But Should
—
Links:
• DatPiff – https://www.datpiff.com/
• Polymarket – https://polymarket.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
• Sam’s List – http://samslist.co/
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