We found the top 1% of the internet this week (so you don't have to)

0:00 All right, Sam, why are we dressed so festive? It's Casual Friday, baby. It's Casual Friday. And the best stuff is always in the group chat. And these are the things that I sent in the group chat that I wouldn't post publicly. But decided, you know what, it's casual Friday, let's air'em out. All right.

0:20 Can we do the first one? The first one. Here it is. Okay, this tw is a tweet from Dylan. Dylan says, At long last, any app can be your alarm app. Apple has finally introduced alarm kit. This is at the the Apple announced what that happened this week.

0:34 That lets any app have the same privileges as the clock app. This is long overdue. Dylan, you are absolutely right. Dude, I did not understand this. Is this a joke? No, this is real. So basically You know, like Apple gives you certain permissions, right? If you're an app, you can send push notifications. You could use the camera, you could use the GPS, but for a long time, no app could become your alarm app.

0:56 It couldn't access the same features of an alarm app, which is like Now any app You don't just have to use the Apple alarm app. Anybody could build a an app for alarm. I don't understand. So yeah, this does sound small. So change my mind. Why is this important? So think about it this way. There's like two billion people with iPhones.

1:14 And You know, not every app can address all two billion people, but an alarm clock can basically address like a billion or two people. Who actually have The need for an alarm clock. So

1:24 What happened was Two weeks ago or you know, a week ago. As an app developer, you that was not a category you could be in. And now it's a category you could be in where there's a billion active users that might want your app. And there's been no creativity and no innovation. So like the app store's been out been out for

1:41 You know 18 years now. So a lot of stuff is solved, right? Camera apps are pretty good, map apps are pretty good with Google Maps and Waze and you know ride sharing apps. There's all kinds of apps. There's been tons of innovation. But this has been basically artificially blocked. Wait, really quick.

1:57 Do you remember the the joke of Peter Thiel where he said, You wanted flying cars, but you got a hundred and ninety characters like Twitter. This isn't even one forty. This is the even worse version of that. You wanted flying cars? Now you can make alarm apps. You wanted AI, instead you got a snooze button. By the way, I met the guy who wrote that line for uh or I didn't meet it, but I I I I I found out who wrote that line for Peter Thiel. Peter Teel has like a Wait. You met him? Okay, you m you mistakenly said you met him versus you heard about him. I met a guy who was like That's the guy. Who wrote that. That's Peter's guy. He he comes up with those. And that was his job was basically follow Peter around.

2:38 Listen to what he's saying. And then try to like Transform his sentiment into something really punchy. And that guy came up with that line, which became the basis for like founders fun and like a rally cry. That's cool.

2:51 Well tell them good job. All right, so check this out. Easy idea. David Goggins, would you like a million dollars?'Cause David Goggins today Should pay some kid to make the alarm app.

3:02 That's basically the David Goggins skinned alarm app. Like I wanna wake up. With David Goggins. Just saying, wake up, bitch. There's miles to run. And I just want to hear that when I wake up and not like You know, the default alarm sound for the for my phone. Are there uh when is this going live? When when's this al alarm kit thing?

3:22 So they did the developer preview. That's what WW DC is, right? They tell you what's possible and you can start building with it, but it's not like available yet to customers. But it usually, I think it's just like a couple of months. It's like not not very long. This is low hanging fruit, my friend. It's a good idea. This fruit that might just be on the ground, actually. This might be rotting fruit. I'm not entirely sure. Next one. By the way, we're totally stealing this gimmick from our boys at T V PN.

3:48 Shout out to John and Jordy. Part of the brotherhood. But I gave them a shout out later on. One of my one of my uh photos or tweets is from them, which is they basically had the uh the the true innovation in the podcasting industry of printing out the tweets. And uh we decided that we too shall now print out tweets. But I've been doing five three twos for a lot longer than those guys, so I I think I'm okay.

4:10 All right. Uh this one comes from Chris Bachie. He says This is a is a Chris Backey banger. He says in twenty twenty two, McKinsey paid fifty five million dollars was paid fifty five million dollars to Advise Warner Brothers. Uh when they merged with Discovery.

4:24 They charge them thirty seven million by ad advising them to change HBO to HBO Max, then to Max, then back to HBO Max. And in twenty twenty five, they build them an additional sixty three million again to determine that Warner Brothers and Discovery should be separate brands again. Did you see that McKinsey last week laid off uh fifteen percent of their staff? Because of AI? Because now like AI could do half the job or what? Uh is that why For sure yeah, for sure. This is this is absolutely insane. What did you say? You're allergic to lack of common sense. This is ridiculous. Th this is exactly the sort of lack of common sense I was talking about. This tweet has seventy thousand likes, by the way. I don't know if you totally made up these numbers or if these are true, but

5:02 Directly correct. There were some good reactions to this. Greg. Greg tweeted. Don't be the problem.

5:09 Be the solution that creates the problem. That is my takeaway. Yeah, it is pretty ridiculous. Have you ever had friends that have worked at McKinsey? Yeah, yeah. W uh my buddy Romine, who I do a bunch of business stuff with. He was a Former McKinsey guy.

5:24 They're easy to make fun of because you're like, What does a a twenty three year old know about business? But like I have a friend that worked there and she had some pretty amazing like basically a PE firm uh in her case identified like uh a bunch of dairy farms that they wanted to like roll up and so they bought a bunch of them. The PE firm did. And then they hired McKinsey folks to come and figure out how to make it more efficient. And so she literally would go to Iowa. Every single week for about six months and devise interesting things. Like, for example, we're gonna change the bucket size that we like use that the workers use. Like just another. Like have you seen Landman?

5:59 Yes. When like the lawyer shows up on the like on the oil field and she's like got her high heels like st stuck in the mud, basically. That's what I'm imagining. The McKinsey consultants showing up at the uh The cattle farm. It it was kind of great. It's like I learned about this whole this whole experience she had and there is value that is created from these consultants, even though we like to make fun of them. Have you did Ramin actually work on anything interesting? Well they deserve to be made fun of because they're incredibly smart. They get paid very well. So, you know, that means you're a punching bag. Right. That's basically the criteria for like free game. It's like what a nerd was in middle school. It's like the opposite traits, right? Like the person you could give a swirly to in in in sort of junior high.

6:40 would be like Somebody who's sort of weak and powerless. But When you grow up, you can't make fun of the weak and powerless. You only make fun of the powerful. And so yeah, R Romin was like this. Basically he would tell me things that they would do and I'm like, Oh, that's really smart. I was kinda I was kinda hoping you guys were a bunch of idiots, but actually that sounds pretty good. But what I did come away with was they have huge brains but small balls is generally like the person who stays in consulting. And that's like a which by the way. That's the definition of anxiety. The definition of anxiety is when your uh brain is a lot bigger than your balls.

7:13 So that's probably why there's a bunch of anxious consultants running around. I like how you're just saying something is the definition of absolutely not the definition of, and that's hilarious. I'm gonna start doing that. Well well, you know the root word of that and then you just make it up. Not even the root word. All right, we got a couple more reactions. Our boy Ty Lopez comes in, comes in hot off the top reps. A good gig. You know it's you know it's a good scam when Ty Lopez is giving you giving you respect. Oh, these are all replies to that original one. Okay. I didn't even I didn't but following that yeah, we're learning. That that's insane. And what about this one?

7:51 Uh this is the consulting uh meme. Uh consulting. If you're not a part of the solution, there's really good money to be made in prolonging the problem. There's this thing that happens in sports that I've always wanted to be a part of business. So you know in the UFC how they have press conferences where they really talk shit about each other. And I I always felt like it's the best part. And you know, I wish business people would do the same. Like I wish right now I've gone to that, by the way. They're awesome. You've been to the press conferences?

8:18 I've been one time I tried to sneak in when I ran the hustle. Like I try to like get I couldn't get cre I I was like, Let me see if I can get credential to this and they didn't give it to me. And so I showed up anyway and they kicked me out. So I I went like They made me walk to the back and like sit with the crowd and I and I watched it. Yeah, it was great. They didn't respect the hustle as a newsletter as a media brand? Dude, the n the hustle is the worst theme ever when you're trying to hustle someone. Like I was showing me it was just like some random security guard and she's like John scam. It was the worst. Like the lady like giggled at me and it was like a it was a pathetic laugh. It was like so no, I got kicked out. It did not work. But if anyone's listening who works at the UFC, if you and I could get credentialed to go to a UFC event and ask a question, I would do that in a heartbeat and I would take it incredibly seriously. Arguably too seriously. Might ruin the whole event.

9:18 All right. What what do you have next? Do the Frank Slootman one. Oh, okay. This is good. This is related. This is actually related to what I was just talking about. So Frank Slootman, who is the uh The man's man CEOs. He's the David Goggins of The corporate world. Would you agree?

9:33 Yeah, I mean he's pretty baller. Uh he's he kinda says it like it is. For people don't know, he took over he's been a b uh a bunch of C he' CO of a bunch of companies, but he took over at Snowflake and he has all these famous memos that he wrote on LinkedIn and it was basically like Don't be a bitch, work hard. Like that's like how he summarises everything. Yeah, but it's a little bit different. So he's got this book called Amp It Up, but if you really you could just read his blog post called Amp It Up and get eighty percent of the

9:58 It's not even just about working hard, it's like Pick up the pace. Pick up the there's he his his basic point is that in every organization there's an incredible amount of slack that's just built up. It's a expectation of timelines, of rigor, of of effort, of everything. And then another one of those is common sense and like

10:17 His approach is just to cut through all the bullshit. And so he has this quote where he's like talking about the man in the you know, that famous like man in the arena quote. Yeah, it's kinda I I kinda think that uh that quote is super lame now. It's been hijacked by people that I don't like. I know. Timothy. That's what you're saying. Yeah. Yeah. Was people a singular word? All right, here we go. So here's what Frank Slootman says. He says

10:42 There's lots of people in this world who are not really in the arena. They're they're either observers, consultants. or agents or VCs that just provide capital. But there are some people around the reader, they're very special people. And then he says he talks about he was asked to speak at a business school. Where they always ask for his advice he says You all have elite educations.

11:00 You'll have many job offers paying you big bucks. Your parents and siblings will be incredibly proud of you. But they're all consulting jobs for Bain, McKinsey, and companies like that. You're gonna have an easy path to pretty quick earnings, but you'll never know whether you have what it takes to actually build something new. And Roosevelt's words. You will be those cold and timid souls who

11:20 Neither no victory nor defeat. I had actually never read that part of the Of the quote. And I thought that part's way colder than the mi than the the rest of it, you know what I mean? Imagine saying this to uh a room full of Stanford kids. It's like that's

11:37 I wonder what that what do you think the reaction would have been like? I think the reaction would have been like God, he's so right. After I finish up this first four year tenure at McKinsey, then I'm totally gonna do that. I think that's the real the true reaction. It's like He's so right. I'm not actually gonna rescind the I'm not actually gonna withdraw the job offer. I'm I'll I'll finish up I'll I'm gonna make sure I get the few years and then I'm gonna go do that thing someday. I've hung out with like uh my friends, children or you know, people who are like in the uh uh applying to college age right now.

12:06 It's way different than when we were younger. Like when we were younger, not going to college for the uh a huge majority of people, for anyone that's like a middle class on up, it was like that wasn't even a question. Now it definitely seems like the smart people are saying, I'm not sure what my I'm weighing my options. I'm trying to look at all that's available. Have you noticed that? No, is that like and when you say that they're thinking about Like trade school or dropping out, or everything's on the table? Yeah, so for people are their parents entrepreneurs or are they the people? People.

12:36 The people who I know, it's just like, let's say, cousins and nephews and things like that. And they're mostly like well to do, or at least like have a household income of two hundred thousand dollars. And it's basically like Thus and these are smart kids. So typically when we were younger, Sean, the smart kids like always went to college. Now the smart kids are like I'm not sure, you know, I I've been in contact with this company about just going getting an inter internship right away, right at nineteen years old. other people who are less of the academic, like they're they're not like the geniuses, they are considering trade school and it's not nearly looked like if when I was younger, if you said you're going to trade school, it was like It was like, uh is that like punishment for getting in trouble? Do you know what I mean? Oh, you're dumb. Yeah. N now I think there is a s there is one hundred percent a change in sentiment. And I wonder I wonder if

13:23 Like this whole NBAs are dumb. That's a new feeling ish. That's like Peter Thiel was the one who popularized that where he said for you he goes the valuation of your company, take a million dollars off for every MBA uh employee you have. And so now that's popular. And I wonder the MBA people who are there now and who would hear something like this, how they feel, if they acknowledge it or if they don't. Right. That bitter tool quote is like how that's like my parenting style. I'm like one more word.

13:48 One more word and we're not going to the pool for two days. Oh. Oh three days. And I just keep going. I'm just like you say one more thing and you lose a little bit more. Do you stick with it? There's all kinds of retrades, dude. I'm I'm Trump

14:03 I'm trumping the China deal right now. Wait, you let your kids trade punishment? Raise the tariffs And then there's a p temporary pause for extenuating circumstances while we negotiate And then we have some really good interactions and then we start thinking and then they come back again and they do something, you know, they just throw their spaghetti on the floor and then we're back at 125% terrorist. What age does punishment work? Because right now when they do something, I say no, I just like they laugh at me. they can start to understand like cause and effect or consequences somewhere between two and three years old.

14:34 I think you start to get it at a very basic level, but you also have to time it. So like If the kid is emotionally upset. or is feeling something, they're not gonna learn the lesson in the moment or the having the fit. Whereas like I think as adults we're like well this is why It would try to like explain the thing while they're like, you know, having their meltdown. It's like you have to have let the meltdown happen and then

14:55 If you wanna have a teaching moment, it's like gotta come after, which is probably true for adults too, but it's like very obvious with kids because they're literally melting down. I gotta figure this out because I yeah, I've been trying to like punish her. Not punish her, be like, No, you can't do this. Right. And I just get laughed at. Um all right. Read the next one. So uh This is one of yours. So it's a David Senra. uh tweet and he says Charlie Munger told me

15:19 Flex Charlie Munger told me to read Les Schwab's autobiography. I'm glad I did, because Les says things like this. Quote. Success in life is being a good husband, a good father And you end up being

15:32 A second father to hundreds of other men and women. Last night I attended a wedding of a young man from our office, and the young man told me That two men had influenced his life, his father and me. That's worth more than money. So this guy Les Schwab

15:47 Is Amazing. I haven't completed his book, but I'm in the middle of reading it. But let me tell you about this guy. So there's Charles Schwab. No relationship. Okay. He's he's he he was a hillbilly in Oregon. Basically, uh he was like orphaned at the age of like thirteen or fourteen.

16:03 uh was like a plumber and then started a tire shop at the age of thirty one or thirty two. Didn't know anything about tires, but started a tire shop. Eventually over the course of fifty years, it grew into a multi billion dollar operation. And he's famous for being really great at incentivizing employees, and he's famous for being very good at managing and leading to the point where Warren Buffett and Charlie Munker look to stories for uh from him on how to properly lead and incentivized. And then go to the next slide. Look at what he looks like. So He was a hillbilly. Uh he was uh he was uh he was like a From the streets type of guy, I've been thinking about how I can describe these types of people because I love them. And I think the best way to describe it is small town grit. Wait.

16:46 big number swagger. Something like that. Like these guys that you and I love who are these like blue collar So small town grit with big city swagger. No, with like big number swagger. So it's like big city swagger, right? But what I mean is is that they're like these kind of hillbillies who build these massive companies. And so they can they make like, for example, one of our friends, Kevin Van Trump is one of them. Where you see this guy and he comes off where he's like Hey

17:14 What's going on, brother? I gotta go write my newsletter. And he like he like talks like this, but like turns out he makes like twenty million dollars a year. And like the people who read his newsletter, he'll you know, Kevin's this uh big guy from Kansas City comes off like Like a hillbilly'cause he talks funny. But his work is read by like world leaders and he makes twenty million dollars a year and in the background of his video Zoom call is like a Picasso. So like I love guys like this and this guy's one of them. So Les Schwab started a tire company. He died uh in his nineties, but ran the company up until then, grew to a multi billion dollar organization. And I wanna go to the next one. I wanna read he wrote the his own foreword to the book, and I highlighted my two favorite sentences from the foreword. Read that.

17:52 Alright, soar C says this book is mainly written for the two thousand families that make their living selling Less swab ti uh tires. And for the thousands of families to follow in the next twenty, thirty, forty years. All right. So he says this is what you highlighted. I wrote this in November and December of nineteen eighty five. I did write this a hundred percent.

18:09 with my forty year old typewriter. And then at the bottom it Okay. Uh, I do think Jan Nolan, my right hand gal, Lorraine O'Hara are were our word processing operator for helping me correct misspelled words.

18:22 And helping me with punctuation. I didn't have a grosswriter. I wanted it in my own words. And then it says basically in this, I'm gonna pass on my theories of business to our people. And he says, Should we fail to follow these policies uh towards customers and employees going forward? I would prefer that my name be taken off the business. And then it ends with he basically says

18:42 If you're not interested in business, this book will bore you. And if I were you, I wouldn't waste my time reading it. How great is that? How much of a simpleton am I that it's just here's you wanna win me? Here you go. Push me away. Oh you think I won't like this book? Watch me read every word.

19:05 Treat'em mean, keep'em keen. So easy to manipulate. How b how beautiful is this guy? Uh I'm not going to be able to do it. I'm in the middle of reading it. Yeah.

19:18 Seven out of ten. Fine and forgettable. Eight out of ten. I'll remember the big idea, but that's kind of it. I didn't need three hundred pages. Nine out of ten really enjoyed it. Good book. Ten out of ten.

19:30 I'm giving this book out as a gift. Where is it at? Uh Uh I'm only a quarter of the way through and it's between an eight and a nine. Yeah, an eight and a nine. Yeah. What's the big idea so far? He just treats people well. And if you treat people well, you get rewarded in return. So it's it's it's it's a very simple thing, which is you said there's a lack of common sense. He's a very common sense, rational person, but often rational means cold, and he is it he is rational warm. Oh rational. Okay, that's cool.

20:01 That's a good insight. So it's sort of like his original quote, which was uh I went to I I became a father to all these people and I go to their weddings, and that makes me feel great. That is a rational thing to say and and it is warm versus You know, what a McKinse consultants would say, which is it's all just about these numbers on a spreadsheet. That is also rational, but it's rational call. Yes. So do you honest question, do you think that you're you kind of are doing that? Do you think that you have that kind of like I'm a a a a fatherly influence or a man influence on other men. Uh, in a w is that something you think is true or take pride in? Are you like, Yes, I need to double down on that? From this podcast. Cause like remember when we were at this dinner, or you weren't there, but I was at a dinner and I told you about it like

20:45 This guy came up here you know at the end of the dinner. He's like, Hey, sorry, I wanted to say hi. I saw you guys over here. I didn't want to bother you, but he's like 'Cause I always ask people, I say, what you know, what do you really like about the Potter? Like what is it, you know, what's stood out to you or what's helped you? And he was like He had basically mentioned he's like me and my girlfriend got pregnant. We didn't plan on that. But hearing you and Sam talk about like

21:03 Kinda how fun it is to have kids and build your business and they're not like Either or. like kinda nudge me towards deciding like, you know, we should keep this, we should do this. And I remember being like, Whoa, that's like a lot of responsibility, a lot of weight on the words that I didn't really Sort of think about. Do you feel like that?

21:20 Yeah, I do. I I think it's hard to feel that way because if people knew how we record this, we're just in our rooms, like by ourselves, talking to each other on a screen. So it's hard to like feel a presence. But I think I view this podcast as well as my company. I view it a little bit more as a a very tiny way to decide the life that I want to live with others and just make that reality in my small corner of the world. I also think that like I thought about like we are not even remotely like this, so it i I don't even love saying it, but like when LeBron James or some famous athlete does something bad and they're like, I didn't sign up to be a role model, I think about that all the time, where I'm like Well, I used to like tweet some something that was a little bit mean and I'm like, Well, I don't care if this influences me. This is just me. This is this is just my opinion. And then now I'm like, uh, you know, it holds a little bit of weight. I wanna make sure that I I'm right about it and not hateful. Right, right. And you know, the best thing that ever like the best thing about a podcast is that it feels like I'm just talking to you and we're just goofing off here and there's only two of us. But like, you know, let's say this episode on average, these episodes get like, you know

22:17 Three hundred thousand people. Listening to them. I mean that's bigger than the biggest college football stadiums. You know what I mean? Like if we If we were sitting in the in the fifty yard line

22:28 And there were three stadiums stacked on top of like it'd be like almost three or four stadiums of people stacked on top of each other. Do you know how differently we would do this? Like it would suck. I would f I would be so nervous and thinking about every word. And the show would honestly suck if it was if if it felt that way. And so I think one of the real blessings is that that's not the case. You don't you don't know it. You're blind to it.

22:49 We rarely record in real life and one time that we did, there was a uh uh the studio manager was a woman who was really attractive and I noticed that one time one of us, or maybe I forget who, said something that made her laugh and I was like Oh, that felt nice. And then and then she didn't laugh and I was like That didn't feel good. I started like performing really poorly. I'm like I can't stand the the presence of one person, let alone uh three hundred thousand in real life. That's crazy. All right.

23:23 Next uh next story I wanna show show you. Did you see this? Did you see this tweet? No. Here's what it says. So this is from at restructuring, which is a good it's a good account, by the way. Do you follow this account? No, is this all about companies that have gone out of business? No, it's kinda like PE it's like a PE uh type of account. Uh they treat treat private equity type of stuff.

23:44 Anyways, we talked about this a while ago, I believe, didn't we? So I I think we mentioned it, but I didn't I didn't know the story. So the the headline here is Man Steals 122 million dollars from Facebook Facebook and Google simply by sending them random bills, which they agreed to pay. Why is that a crime? Why is that a crime? Exactly. This remains my favorite path to wealth. Exploring exploiting the big company inefficiencies should not be illegal. Uh I agree. All's fair and love and war. If you if I send you an invoice and you pay it.

24:16 Am I at fault or you? Hold on. What's going on here? But there is a little more to the story. So have you read about how this actually worked? No. Well, wasn't he like legitimately a vendor for them? No. No, I think that was a little bit of the problem. Okay, so here's the story. So there's a fifty year old dude The guy who's in cuffs here.

24:38 And he was impersonating a company. So there was a c company called Quanta Computer. That's a legit company that was a vendor for Facebook and Google. He sets up a company also called Quanta Computer, but bases it out of Latvia. And so he just copies the same company name, the same logo, but it's incorporated in a different country. He starts making fake invoices, contracts, letters, corporate stamps, corporate seals

25:03 And he's sending these to Facebook and Google for over two years. And he got paid out. A hundred and twenty two million dollars across the two companies. So ninety eight million from Facebook and twenty three million From Google. They then find him in Latvia.

25:20 extradite him and here's a great quote from the US Attorney. So the guy's name, I guess it's Ruma. Remusowsk. So Rumasowskis thought he could hide behind a computer screen halfway across the world while he conducted his fraudulent scheme. But he has learned.

25:35 The arms of the American justice system are long and he now faces time in a US prison. Dude, how hard is this guy? This US Attorney. By the way.

25:49 I think he still made out good. He had to give back You had to forfeit. Forty nine million. And he had to pay another, I think twenty six million in restitution. That doesn't add up to one hundred and twenty two million. So he he might have still made a bunch of money and What conversation do you have with your wife or your like

26:06 So what do you do? What do you do, uh guy? You today. Kinda wanna get'em on the pod. Yeah. Jailpot. A rare category of illegal but impressive.

26:17 No? Yeah. Yeah, yeah, yeah. Which like It's like the like the Bernie Madoff scheme. Not cool and impressive. Like uh uh you know what I'm wanting I wanna learn more about it. Right.

26:28 Right. And if you judge us for saying impressive and illegal Like, do you like Oceans Eleven? Those guys are you're rooting for the guys who are robbing. Uh anyways. Here we go. So uh what else we got? Oh I I have uh Something here on Chat GPT. Have you seen this? Okay, so Chat GPT's product retention curves is a product manager's wet dream.

26:50 Their one month retention has skyrocketed. From less uh from less than sixty percent two years ago to an unprecedented ninety percent. Utu was best in class with eighty five percent. Six month retention is trending towards eighty percent and rapidly rising.

27:06 Generational product. Okay, so This little line chart here. If for people who don't really recognize this Imagine when you're at a hospital.

27:15 and they hook the patient up and you have the heart monitor and you see that heart beat, that line, and it's gotta keep beeping for the patient to be good, right? And you have all these these monitors with these little lines. Well, this is the equivalent of that for a company. So what this is is a retention curve. So the The line at the very bottom here. would be like the oldest cohort. So that's like people who signed up for chat GPT two years ago. And as you can see, it starts at a hundred percent of people using it on day zero or month zero.

27:42 But then even by month one, it's at sixty percent. By month two, only fifty five percent are still using it. And by the time you get to a year, you know Less than it looks like. thirty percent of people are still using the product. So that means more than two thirds of people just stopped using it after they tried it.

27:58 And that's the sign of a product that won't win, a as is. Because The bucket is too leaky. Uh, you know, you're getting too many customers in that are that are churning out. They're not finding value in the product. And what this curve what the what the other lines are Or the next month, the next month, the next month. And as they improve the product.

28:13 You can see that the drop offs are way less. So now what he's saying is that Basically. The one month retention is now ninety percent. So people are finding so much value the first month that they use it that A month later, ninety percent of them are still using it.

28:28 And so this is how this is like the key metric for most businesses is retention. That's the thing that tells you if your business is gonna be around for a long time or if it's just a leaky bucket. And seeing this with chat GPT is pretty stunning. And it kind of leads into my next tweet here, which is that Open AI.

28:44 is now at ten billion N AR. So that's Two X since the end of twenty twenty four. So they basically doubled revenue from five billion to ten billion. And it's been less than three years since it launched. So in less than three years, they've grown this product to ten billion dollars in recurring revenue, which is just stunning. And it

29:02 highlighted to me one one very big takeaway from this, which is that OpenAI is the Facebook of this current generation. Maybe more. Twenty years ago it was Google and Amazon were the big deal. That was that was it. Thirty years ago is like Microsoft. Twenty years ago it was like Google and Amazon. Maybe fifteen years ago or so, you know, it was that was the Facebook era and Facebook was the thing that was like

29:24 Oh, it's a billion dollar company, a fit ten billion dollar company, and now it's a trillion dollar company? Well The one right now. is uh is open AI. For the next decade. It's gonna we're just gonna me and you are probably gonna look at ourselves and be like, How were we doing this podcast?

29:38 How are we looking at these tweets, these charts? And just like why didn't we go buy open AI stock? Like how how dumb do we have to be? I it was on Sarah's list. Three years ago or something like that. Wait, was it really? Did we talk about it then? Maybe not three, but two for sure. Like I think I think the very first uh serious list episode we probably had them on there.

29:56 It's like I was like, what what kind of doofuses are we that we don't ha own any of this stock? Can w can you own it? Yeah, you can buy it in secondary. I uh I had a buddy of mine about

30:07 Two or three years ago, he was at my house. You know who this guy is. And we were uh talking and he was like, Yeah, I have a job offer from Neuralink. And open AI. And I was like, wow, those are both pretty promising. What do you and he was like, What should I do? And we just had a conversation about it. And I didn't know anything. I mean, th though at the time it was really hard. Like they're both like run by Tycoons. They're both really interesting. They're both the hot startup. And he chose open AI.

30:32 And he has made so much money just in in two like tens of millions of dollars in the in like Two and a half or three years just from being like the one thousandth employee. Something like that. Like like nothing like It's just Astounding at how big the And what is his job as he uh

30:52 He's not like these kind of like the rare AI PhD type dudes, right? Is he a pro is he a programmer, is he a product person? What what's his what's the role? Product person. Yeah, product person. Uh for any sorry pro sorry uh programmer. He's a programmer. Okay. Massive difference. Uh I was gonna say if you're a product guy and you make tens of million dollars for opening eye, how's that even possible if you're just like, you know, a random person. Engineers okay, I guess I can see it. You know, you get a

31:19 You get a a stock package that's worth two million dollars over four years. But you got it when OpenAI was valued at sixty billion and now it's valued at four hundred billion. Right. So it's it's a you know, eight X or something like that. And so your two million dollar stock package has turned out to actually be a sixteen million dollar stock package.

31:36 It's crazy that that's a normal thing that happens that's happened to like A thousand people right now or more in uh like in a Yeah, like thirty mile radius of where I live. This was sort of an un we kind of like glazed over this, but basically uh Harley from Shopify was on the pod and he at one point they were worth two hundred and fifty. I think when we recorded with them, they were with$150 billion. And it's basically like the hundredth largest company in the world right now, which means it's like the like the hundredth largest company probably ever, ever created. It's like around the w like so of every business ever created.

32:11 it is the one hundredth most valuable. Which is w which is astounding, right? That's a that's an astounding number. To think that OpenAI is a less than it's a it's a decade old or something like that company, and it is already like the fiftieth or twenty fifth largest company ever created. Isn't that astounding? Not even from a like a product. or the technology, but literally how do you organize that? Like the organize the people who are work there, organize the investors, just the organizational, you know, they say like Uh, just the idea of like, you know, have you heard these stories about China building like a s uh a fast railroad and like You know, six months. Like it's it's it's it's sort of fascinating like that.

32:51 It's definitely the number one most valuable nonprofit ever. Mm-hmm. Is it still really a nonprofit? Uh I think so. And he said they're not gonna they he also said they're not gonna make a profit until they hit at uh what did he say? He goes, We can't make a profit until we get to ten billion in revenue or something. Remember my thing earlier about like just push me away? Their investor thing, which is like listen, we have to put a cap A hundred X cap on your returns,'cause this is gonna get bananas. So

33:17 Dude, that pitch. The balls it takes to have that as your pitch, which is like Instead of promising upside, saying, Listen, we're gonna need to cap your upside because it's gonna be so insane. how much value we create. So I just need to make sure you're okay with that. I'm gonna start using that. My life.

33:39 Skip to the uh this Elon one. Yeah. All right, why don't you frame this one up? Alright, so uh the the breaking news. President Trump comments on Elon Musk's apology. I thought it was very nice that he said that.

33:54 Trump says. And Elon Musk has a tweet that says, I regret some of the posts about President Trump last week. They went too far. Insane. This is insane. You can't do that and apologize. Right.

34:11 There is you don't apologize. Like dude if I called you a A a pedophile or a rapist in front of Literally the entire world. Right. I can't say I'm sorry.

34:23 There's no there's no There's no sorry big enough, you're saying? Dude, when Genghis Khan doesn't apologize, like when you do like Can you imagine Napoleon being like Hey, that one it went a little far. Do you wanna like shake it out? Like Oh, you're saying conquerors can't apologize? That's the take?

34:40 That was a uh such a crazy thing to do and say. And he tweeted it out. Uh very casually. Where he said, Have a nice day, Donald Trump. Do you know what I mean? Like it was so it was it was such a a dagger. You can't apologize for that. I I I don't see how you can come back from that. And I don't see why you would even try, right? Well, I can see why you would try, which is like

35:02 You know you Well there's no winners at war, basically is what what's gonna happen here with these guys fighting. But uh And then look at the next one. Dude, the the Elon knows I love him. No, hold on. I'm open to Rick reconciling with Elon after seeing his latest post. Elon knows I love him. JD knows this too. That's just hilarious, by the way. I don't even know why that's in there. JD knows this too.

35:23 I give the best and biggest reconciliations. Everybody knows this. I don't even know if this is fake, by the way. This could totally be a fake truth post because There's nothing easier to fake than a truth social post. 'Cause nobody has nobody I know has an account on there. And so you you could just write anything and make me tell me that he tweeted that. And plus he's he might say he might he could totally have said this. Uh but dude, how funny is this? Elon knows I love him. JD knows this too.

35:50 What's that? I don't know. I think it's because J uh J D was on uh I The Ovan's podcast talking about it. I mean, are they not talking day to day? Uh and then he goes, I give the biggest and best reconciliation. It's insane. Melania knows this. It's just crazy. This is a reality show. This is it. You calling this on the podcast that they would break up.

36:17 You were like, How long do you give this? And it was like a couple of months or something. And I was like, Well, I don't know. They're both like pretty all in on each other. It seems like it's gonna be really hard to It'd be really messy if they try to break this off. And you're like rule number one from the forty eight laws of Power, right? That is that what you were quoting? You were like, never outshine the master. Yeah.

36:36 And I also said they're gonna break up in June. I said it's gonna only last until June. Wow. What a weight what a waste of an incredible prediction. Yeah, I mean this like being the tallest midget. Like it's not that interesting. But like it was a very easy prediction. This was I ha we knew they was gonna have they were gonna have a falling out and uh I had, you know, a uh eight percent chance of guessing the month.

36:58 It was very predictable. But I this was sort of one of those moments where like I remember where I was when it happened. When I saw that when I saw that tweet We were my company had a meeting and everyone said Oh my God. It it it it it was pretty crazy how Elon and Trump fighting, it brought down the stock market. Did you see that? Yeah.

37:19 It was absolutely ridiculous that my finances were impacted by this spat. And I thought that that I thought it was kinda funny. It was a w it was a wild day. The m the memes that day were incredible. I think I tweeted that out. I was like, listen, this is a sad day for America, but the content is outstanding right now. Let's talk self driving real quick. So self driving cars are on fire in uh LA. They're the rioters are speeding up the self traffic cars, not sure exactly why. But I like this one from Andrew Ackerman.

37:43 Nodded at the Waymo in downtown DC so it would know I'm one of the good ones. Yeah. Have you developed a relationship with your AI? I mean, I don't like to say that, but yeah. Like my voice changed on my chat GPT, like the talking voice, and I had a like

37:59 I was like I felt uncomfortable talking to her'cause I had gotten close to the other one. Are you okay? I had a so I had to change it back. And so He's joking. But not really.

38:10 Right. I mean this is kind of like the uh Sometimes I pray to God, even though I don't believe, but just in case. Uh there's definitely an element of that with AI. Where I'm like I'm gonna say please and thank you, you know? Just in case.

38:23 Just in case things get a little crazy. Have you taken away Mo? Yeah, they're amazing. Have you? No.

38:31 They don't have'em in uh In Connecticut. It's not exactly uh like the best place to try it out. But no, I I I I think they're amazing. Everyone says they're amazing. Go to that one. Go to the uh the Eric one. I think this is like an inspirational one. So check this out. So uh I I met Eric. So Eric Eric's the CEO of a company called Ramp, which like has grown to like a six billion dollar valuation in like four or five years. And He was telling me about uh T P what is what's it called? T B P N what stand for the Tech Bros Podcast Network.

39:03 I don't know what that actually stands for. They tried to change it so it's not bro Technology Brothers. I think it's called like The business podcast. I think they that's what they changed it. But it'll always be Technology Brothers to me. Go on. So it's this guy named Jordi and John Coogan. They're fantastic. They have this new podcast. It's more like a like a daily news show, not even a podcast, but like a video show. It's not even a show. It's basically they do stuff, but you don't even need to watch the show. It's all clips for Twitter. So it's like Twitter is like short cl shorts and clips is what they what they make. They're hilarious. And I was at Eric's office and I said, What's this? And it was a little booklet. And apparently they had made like a twenty page book that they sent to potential to sponsors, people they're according to like, you know, be their sponsor and they wanted to get like a big check.

39:45 And I turned the page and on one of'em uh was this this piece of copy uh in the deck and it said Our hope is that this partnership is the domino. that bankrupt your competitors and grants you a monopoly so powerful that you are dragged in front of Congress. And I read that line and I was like, that is the greatest opening line for a pitch deck that I've ever read. It was fantastic. And uh

40:16 I was joking with Eric. I'm like, This is the greatest thing I've ever read and and he was he it made him giggle, so I guess he shared that and it's wonderful. How good is that? Dude, they're so fucking good. I love those guys. Also I have a funny Eric story. I met Eric.

40:29 When I was in коліч. And we both got picked for this Trip to go go to the Alibaba headquarters. So it was like a free, all expenses paid trip to China. Courtesy of Jack Maw. For fifty of the top college entrepreneurs, and I was on this bus.

40:45 And Eric was right next to me. Nice guy. He's kind of a baby faced guy at the time. I don't know if he still is. You said you met him in person, but Yeah, he's like he's like he doesn't come off like a tycoon. Like he comes off like very Kind and warm. Yeah, exactly. And uh

40:59 At the time, I think he was literally in an MLM. I'm not a hundred percent sure, but I'm pretty sure he was selling products That were part of a like a like an MLM sort of ski board or he was I don't remember exactly. Was it like essential oils? It was like as creams or something like that. And I I I'm vaguely remembering this, so I could totally be wrong. Sorry, Eric, if I got some of the details wrong.

41:21 But I swear If it's not that, it's in the zip code. And I just remember thinking like Oh, this guy's kind of cool, he's a hustler, really nice guy. I don't know what he's doing with these Yeah, w whatever it was, creams or whatever he was doing at the time.

41:34 And then I've seen him build ramp and I'm like Is that the dude from the bus in China who was trying to sell me creams? And uh it just goes to show. Anything is possible. Dude, when I talked to him, it was him and his part it was like me, David Senra

41:48 Eric and then Eric's partner all in a room. And we were just riffing and then hanging out. I was wanting to meet up with David because David's a buddy of mine. He goes, Hey, I'm gonna be hanging out at Ramp's office. If you just wanna come and see me, it's right down the street from your office. So I go to see him and I walk in and it's and it's and it's these guys. And it was so it's pretty cool. And the partner of uh co founder of Ramp, Karim, I think his name was, he told me this story. He was like, Yeah, like We had this idea and our goal was to get to a billion dollar valuation. In twelve months. That was the goal and we did the math and we thought that was possible and I was flabbergasted. I was like, What?

42:19 I was like, Did you hit it? He goes, No, man, we didn't hit it. Took like eighteen months. And uh and it was just really cool to be in a room of people who thought like craziness like that and it actually worked. Well, you know what's crazy? You know, uh I think they were a massive underdog when they started. So if you remember back when they were were early Brex was already out and early as well.

42:42 And Brex was the San Francisco Based company. Ramp is in New York. Brex had the Y C network and connection. They went through YC and they were all the YC companies were kind of like, you know, YC is kind of like this network effect, this little mafia that they have. That can

42:57 Kind of King make certain companies if you get enough momentum. And I just remember I would have Bet. Like the the odds bet the betting odds were that Break given those advantages. Given that they're the S F, the tech

43:09 tech focused one. Like really was the is the New York startup gonna beat the the Silicon Valley startup? It didn't really seem like that was usually the case. And they had ads everywhere, Brexit. They were advertising everywhere, they were a hot name, they were NYC. Like they had a lot of things that would have made you think they would be the winner here. And Ramp has Thoroughly kick the shit. out of bricks. I I they are worth way more and have done a much better job. I use Ramp, it's a great great product. So, you know, th that is very impressive to me. I think that that was

43:34 That is not how I would have guessed that that would have played out. One hundred percent, I agree with you. Apparently the story is that they ran a company called Parabus. Which is something like uh you get rebates online, so you buy something and you can get like uh Uh, they help you find a deal and you get a little bit of money and the brand saves a little bit of money. Something like that. Like, you know, if something's a hundred dollars, you pay ninety bucks and they give you a little bit of cash back. Whatever. They sold the company after three years for Forty or fifty million dollars.

44:01 And he was like, It was nice. Like we like But we got a lot wrong. And when we sold it, we sold it to Capital One. And in Capital One, we learned about the demand for all these things and uh like the the demand for like a good bank account system, uh demand for all these business services that people needed. And we ran the math because we saw like how big Capital One was and we thought that we could build a billion dollar company in the first year if we did one or two things right. And it was amazing to hear that story. That's pretty cool. We should get Eric on. Well, he should come on and and I'm I'm working I'm working with them on it. They have this like huge like event. They're basically what they're doing doesn't sound like it would work, but it's working. So they're like doing all this goodwill stuff, sponsoring podcasts. They have this huge office that seats three hundred people and they just host events there. Like these things where like People are like, Oh, but like what's the attribution to that? And it's like I don't know, it but it it somehow it still works.

44:54 Right. Okay we gotta do one uh here. This is uh Oh no, hold on, my my text is gone here. But I have a uh New segment, Sam.

45:06 Rich guy house alert. What happened? All right, I saw this tweet about some event. It was like a event, I think, for like San Francisco like kind of like policy, maybe. And I was like, Okay, cool, whatever hundreds of people went to this like San Francisco policy thing. And then somebody goes But the tweet said

45:24 Uh overwhelmed with the standing room only crowd at Gary Tan's house. And I just remember thinking, Caritan's house. And I see this tweet that says, This is Gary Tan's house? Big ass house. Dude, Gary Tan told us he lived in a neighborhood of the city of San Francisco. Yeah. So we're gonna try to try not to dox him, although he said he came in and he goes

45:42 Hell yeah, it is my house. And This is the house. So have you seen this? It is a old shoot. I remember that. Yeah. Across the street from Dollars Park, yeah. Exactly. So so he lives at some here. He owns this thing called the Lighthouse. It's a townhouse condo. In a hundred year old restored church right across from Dolores. Four beds, three baths, but it's got thirty foot ceilings. Crazy. So look at this house, dude. Wait, he lives there or is that like an event space?

46:06 He owns it. I don't know if he full time lives there. I you know, I I don't wanna don't want to comment on that, but like how insane is this? I've always by the way, I've always dreamed of doing this, buying an old church. Old churches have like sometimes amazing locations and really like unique bones and structure. I didn't know you could convert them to housing, so this is kinda interesting here.

46:24 But dude, how crazy is this house. I remember when this was for sale in San Francisco. I it was I still live there and I remember it being for sale. And I remember there was a uh another person living there, not living there. It was like a rich it was another rich guy who was using it for events. And they put it for sale. And uh I'm amazed that he bought this. This looks awesome. Oh my God. Look at this bedroom, dude.

46:47 I don't want that. You know, if I was like Brock Lesnar or someone like really hardcore, like that looks cool. When you watch too much WWE, you're like it. Hell in the cell bedroom. Look, I'm not a tough guy. I'm not I'm not Brock Luster. I mean how hardcore is his bedroom, dude? This is amazing. I love how he's got like the plush carpet right outside, like a like a waiting room lobby before you enter the the bed the bed zone. All right, do we want to do any more or we uh we out? Oh. Yeah.

47:28 Two more. I wanna show you guys my My oldest bookmark from the year two thousand and eighteen. In preparation for this podcast, Sam's like Cool, let me just go look at my Twitter bookmarks and see what Good tweets I have.

47:40 And you found this Your first ever bookmark. Is this in twenty eighteen? Yeah. What is this?

47:49 So it's uh is this this group of Kenyan men, uh the Sam Baru men. Describe this like yeah,'cause there's people who listen to this only on audio. By the way, if you've been listening to this on audio the whole time Please get to YouTube. Please go to YouTube and watch this because this is That this whole thing works if you see the tweets.

48:04 Do you remember that movie with Kevin Banket b uh bacon where he went to Africa to play basketball and he found this like tribe of like really tall guys and they would jump up and they would wear like like very traditional what you would think of like an African tribes person wearing. They have they're shirtless and they have like amazing beads and and whatever, and they have the red hair just like the guy in the movie. That's what this is. It's a group of guys in Kenya And the tweet says that these men are often considered to be the most stylish men. On the planet.

48:32 And uh it's a photo of these guys. And so look. Honestly, agreed. First of all, the account is called at Kenya Picks. Is that an account you just follow? Yeah, I love Kenya because uh I've I like I like runners. And so uh my goal has always been to go to the Rift Valley, which is this area of Kenya, and see uh Kenyan runners. I I've always admired like running and uh particularly there's like this group

48:57 Imagine like a suburb and like something like ninety percent of the distance gold medals have been won by this group of like ten thousand people in Korea. This in uh that's always fascinates me. And so I've always wanted to go and see these guys. And uh this is like nearby in that tribe. And so then uh and then it just says hashtag international men's day. So that was cool back when hashtags were were a thing. And then there's also a picture of the guy jumping and he's Guys.

49:26 Easily five feet off the ground. I don't know how this is is this photoshop. This is incredible. What is this? No, I don't I don't know what that is. I don't know. I I I don't know that much about Kenya, but it looks dope to me. Should we wear this for next Casual Friday? Dude, look how like yoked those guys are. I get made fun of for like commenting on people's calves and like guys' bodies, but like Jacked, right?

49:48 Yeah. Yeah. Uh what about the Theo Vaughn one? Let's see the last one. 'Cause I actually think this is amazing. It's a picture of Diovan.

49:58 Uh Smiling like how my son does when I we try to get him to take a picture. He's with Ivanka Trump and uh who's that, Jared, right? Yeah, Jared Kushner and Ivanka Trump. And he says uh y'all's posture is so good. What the hell.

50:12 Are y'all are y'all in Spine Club or something? I'm built like a damn raccoon. Thanks for the hospitality. Had a blast. It's pretty amazing, dude. W you and I okay, so when Sean and I started this podcast

50:27 Uh Sean started it and then I joined a little bit later and I said Do you like Fighter and the Kid? And Sean was like, I love Fighter and the Kid and Fighter and the Kid is a not so much popular podcast anymore. But it was two guys, Brennan Schab and Brian Callan who would talk about UFC fighting and their friend Theo Vaughn would occasionally come on the pod. He was just a guy. He was a he was a character on the pod. And that slowly has developed into they had another pod together called King It and Sting It, and he rose f further and further and further.

50:57 Dude, look at him now. He's like he's talking to he the president, the vice president, he's hanging out with these guys. How crazy of a career has Theo had in the last decade. It's amazing. It's r h his rise is pretty crazy. I actually knew him from when he was on like Road Rules. Two years ago. Like'cause I like real world road rules and the challenge and stuff like that. And so yeah, it's pretty wild to see kind of the the crazy growth. But even more wild is this. This is what I appreciate about this because this tweet, it's funny, but

51:24 Do you know how hard it is as a man to put up like a Kind of like a thank you post or congratulatory post. But not be lame. And Theo did it. You know what I mean? Like think about what this post is. This post is basically like Had such a good time at brunch. But if you just posted that, dude

51:41 You know. That's the lamest thing that you could possibly do. But to go with this, y'all's posture is show so good. What the hell? Y'all have spine club or something? It's just that's how it's done. And so I'm studying the art of how How how men can express themselves while still being still being cool about it, you know what I mean?

51:58 Dude, he's the best. He's one of the few podcasts that I listened to. I listened to him and Tim Tim Dillon. Have you listened to him and Tim Dillon? I'm not a huge Tim Dillon guy, but he It's an acquired taste. Yeah. Yeah. It's very much like War Tays. It took me about two years to get into him. He's uh it's pretty raunchy. Uh it's he's these guys are like uh my two favorite podcasters right now. It it's pretty amazing how good they are. Alright.

52:20 That's it. That's the fun. I feel like I can root Well I know I could be what I want to I'm put my law in it like my day's off On the road less travel never looking back

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