So würde ich in 3 Monaten 100.000 Dollar verdienen

0:00[gasps and sighs] >> So, you're going to be a dad? >> I'm going to be a father, hopefully everything works out. Yeah. >> Tell me about it. >> To be honest, I haven't really given it a tremendous amount of thought. Um I kind of deal with things as they enter my queue. Um Leila is the one who gets She Her life is changing significantly more than mine is in the short term. I think once the baby comes, I'll I'll adjust when it comes. Um Yeah, I mean, new information, new priorities.

0:33I I I'm really not that worried about it. Um I mean, I think big picture there's been what, 100 billion humans? 85% of humans have a child by the time they're 45. Um or after 40, whatever, but by the time they finish their ability to have children, it's like 85%. So, it's not something that's like really that rare of a thing. And so, I think I'll deal with it the best I can.

0:59And, you know, my dad gave me a pretty good example of what being present looks like. And so, I'll take as much as I can from that. >> You're kind of known as the guy who optimizes everything. >> I would say maximizes. >> Maximizes. >> [laughter] >> Optimizes is get the most for the least. Maximizes is get as much as they possibly can. >> With a kid, what are the inputs you can actually control as a dad? And what's the output or outputs that you've already accepted is out of your hands?

1:34>> Well, I think the question is the nature nurture question, >> [sighs] >> which is, okay, you know, how much of it is going to be genetic? And I don't know. I think most of the science is 50/50, half genetic, half is, you know, your upbringing, etc. Um So, then we get into the question of how does a child learn and how does behavior get shaped? Um which, you know, the primary ways are going to be modeling, like me doing something and getting good outcomes in front of the child. Um and the second would be teaching the child directly, which I would say through demonstration, role playing, practicing, training, repetitions.

2:02Um, and that can be from like, say please, say thank you, all the way to learning more complex skills, you know, over time. Um, I mean, I like teaching. And so, I look forward to teaching the child the things that I know, and what it will teach me about things that I don't know. >> I guess, in a different way. Like, how do you decide, uh, like, these are the things I'm going to teach, these are some of the things that are unimportant. Um, like, what's a framework for thinking about that?

2:35>> Um, >> cuz you always talk about like, well, this is what I would do, or like, this is uh, what I would do in my own life. So, like, when you have a child, kind of creates this different dynamic when you're you have responsibilities in some way, but you also want to allow a kid to have freedom, you know. >> I think a lot of people derive you to, uh, you know, purpose from utility. And so, I would want the child to have as many skills as possible, so that it could navigate the most diverse number of conditions it's exposed to. So, there's a lot of, I mean, life presents a lot of different variables. And so, it's like, if I can prepare it for those variables, so it makes choices that are aligned with getting what it would want, then I see that as a W.

3:20I mean, I think the the hard part, like, there's two things that I've I would say that I've I've struggled more with defining, which is one is, what is the what is the measure of parenting? How do you know if a parent is good? And so, I'll give an example of both extremes. So, it's like, there's many stories of entrepreneurs and others who had terrible upbringings, and then succeeded. And so, do we say that those parents were good if it created the outcome that was good? If we judge it by its outputs?

3:48Kind of interesting. Like, would Michael Jackson have become Michael Jackson if he didn't have that upbringing? I don't know. I don't know if he knows. I don't know if we can ever know. Um and so I think that's an interesting one. And the other is what do we define as a successful child? Um I would say that modern society defines success mostly as happiness. Um they like to do what makes you happy. I just want my kid to be happy. Things like that.

4:15Um I'm not sure if I'm 100% sold on that. Um because I think that when you have somebody who tries to optimize or maximize happiness, it's a very selfish worldview. And I think that when you it's one of those things that if you seek it, you never find it. It only happens as a consequence of other things you do. At least that's been my experience. And so I mean, I've I've talked, you know, plenty of times about this, but like I I have gotten more fulfillment out of being useful than I have out of trying to be happy. And I And having it happen as a consequence of like helping other people has helped me more than me trying to help myself.

4:51And so I think, you know, a lot of things we gain by giving up. It's like in a a lot of religious texts, it's like you gain your you gain your life by giving it up, giving it away. Um and I think those are like those two questions, how do we define a successful parent and how do we define a successful child, um I think are the hardest things to define. Because once you define those, then the rest of the actions are fairly straightforward. And I think that getting alignment on that is probably the hard part. And again, it's like can you have a parent that has an unsuccessful child that did everything perfectly as a parent? I don't know. We don't have any perfect parents. And so the I would say what I have settled on um is I will do the best I can with the resources that I have available to me um to equip the child with as many skills, life skills, as I possibly can so that it can succeed in the most diverse set of environments.

5:48>> What's the one skill you hope your kid has before they turn 18? >> Courage. I mean, I think it's kind of the the the the gateway trait to all other traits. And also, if you have no courage, the other traits become neutered because you can't do anything with them cuz you're too afraid.

6:14And so, I think teaching the child to act and do the right thing or act in accordance with its values despite short-term consequences that could be aversive or bad or painful would be what I think would be the hallmark thing of I mean, it's very hard to look at somebody who is courageous and not like I see that as a pinnacle trait.

6:41I would be proud of a child if they always did what they believed was right in each circumstances despite what other people thought, despite the short-term consequences. And I think that that core trait is something that generalizes to basically every domain. Like, how do you learn something? You have to have courage. You have to be okay with failing. You have to be okay with being wrong. You have to be okay with being made fun of. Um all of those things are come from courage. And so, I think that's probably why I would put it at the core.

7:11>> Is Layla excited? >> Yeah, of course. Layla's thrilled. Hm. Layla's I'm I'm very happy and excited. I know it's Layla's even more happy and excited. And I think part of that is because she has an actual human inside of her and I do not. >> [laughter] >> And so, I think she uh she thinks about it more often than I do because it reminds her that it exists. Um whereas I, you know, just like you have your phone buzzing in your pocket, you don't have something kicking your stomach. Uh and so, like it I I'm very always I'm very aware of my phone existing. I'm less aware of the you know, the baby existing. And so I think that's just partially just the logistics of it.

7:47No, she's stoked though. Now, the world your child will be born into is very different than the one you grew up in. Uh the value of college degrees has changed, jobs are being eaten by AI, and young people are lonelier than ever. Mechanically speaking, what's changed in the system that makes it challenging in a different way for young people to make money today?

8:15>> [sighs] >> Um well, today versus when my child is an adult, I would say we're are different situations. I would say for today, it's never been easier to make money because we have these tools that are giving tremendous leverage to people who have work ethic and skill. Um and so barriers to entry are getting completely flattened, which is amazing. It's democratized access, but what it's really done is also just made it more competitive. And so one of my favorite lines in The Wire is uh Cutty, who's was a hit man, comes out of, you know, prison after 15 or 20 years. He's an older guy, doesn't know what to do, goes back into the game. He then is told to like go do a hit with some other guy.

8:54And it goes, you know, the wrong way or or they're sitting in the back of the car and he says, "Man." He's like, "The game's changed." And uh Slim Charles looks at him and says, "No, man." He's like, "The game hasn't changed. Game's the same, just more fierce." And so I see that in a lot of ways, just the way that the economy, the way that business, the market has hasn't changed. The fundamentals are still going to be the same. It's supply and demand. Scarcity is still going to drive behavior. Um it's just that the variables around the core fundamentals will change. And so that's why I think like adaptability is a core thing to learn, which I just see that it's like being able to change behavior quickly when new conditions arise. Um and so today a lot of money can be made digitally without nearly the amount of labor as before and you can run it a lot more efficiently which I think just there are more people entering entrepreneurship than ever before which I see as largely a good thing cuz the most efficient organizations are single single person run.

9:51Like if you just take like there's so much uh waste in large organizations because of coordination of people. And so, you know, like a perfect world of efficiency would be that every single person has a business that reports to no one else. That everyone have their own freedom. Everyone, you know, delivers uh you know, valuable services to other people. That's awesome. I think there's a world of more and more of that that will happen in a world where, you know, humans have no no inherent value um from a quote utility perspective that a robot, you know, cannot do. Um I think that we'll do what we've always done.

10:23Like we'll figure out something else. >> You said 18 years from now it'll be radically different. >> Mhm. >> If you had to guess. >> What might that look like? >> I have no idea. >> I think my guess is is it would be the same as me making up a reality and I don't think I don't think there's too many variables. I mean, let alone like it's like trying to predict like what stocks can go up tomorrow. There's so many things that are that can happen between now and then. Um and there's also some things that I don't think are necessarily going to change. Like for example, like what are it's I think basis is a question which I like thinking a lot about which is rather than saying like what is going to change, I think it's it's more viable for someone today to ask what is going to stay the same.

11:03And so, I think that humans will still fall in love. I think that humans will still value stakes. So, give you a simple example. Like if Mr. Beast makes a video and he's you know, puts $5 million in the middle of an island and invites 10 influencers to go compete for it. Those influencers can't be AI influencers. They can't be fake. And if that $5 million isn't actually $5 million, and you just have cartoons competing for fake money, I don't think anyone cares.

11:31And there's also some things that people want to see humans do. So, like we have cranes, we still want to watch who can lift the most weight. We still have, you know, robo chess that can beat any chess player on Earth, and chess has never been more popular. And so, we will still be attracted to human things. Drama, story, narrative stakes, things like that that I think that humans want to see how humans are reacting to those things. Um so, I don't think that's going to change. I think humans are going to need to eat. I think they're going to sleep. They're going to have to They're going to have shelter. Um all of these things I think will will remain relatively unchanged. Um will there also be AI entertainment?

12:05Absolutely. Will there be our first Star Wars epic? I mean, we're seeing it. I think you've probably been attuned to this like there've been three big box office hits that are like 100 million plus movies that have come out from just like YouTubers. And that necessarily isn't all AI, but it will be. Like these tiny tiny um teams being able to generate huge blockbuster, quite literally, um outcomes. Uh and so, it's like again, it's just going to have uh I think Naval said this, but it was technology democratizes consumption and consolidates production. So, if you get If you're the best in the world, you get to do it for everyone. And so, AI will will YouTubify a lot of things. So, what I mean by that is when mobile phones had videos, video making used to be a luxury thing.

12:53And then everyone was able to make a video. And then YouTube gave everyone a platform to post those videos on. And so, it's like, oh, everyone can vibe code. It's like, well, yeah, but everyone can make videos, but not everyone's Mr. Beast. And so, just like always, like it will still have like quality like we'll have When there's more supply, we will index on quality. And so, what are the human things that are the non-replaceable things? Which I think are stakes. I think it's narrative. I think it's reality. And reality creates the stakes. Um for any of this type of stuff.

13:24That's why reality TV is still a thing cuz we know it's real, you know, you know, to the degree that it's real people, right? And there's some sort of money or whatever that's on the line. People still watch. But yeah, I think there's there's a world where there's a robot that cuts your lawn. For sure. >> Right. That's something I was thinking about was this idea of like reality TV for some reason has the highest moat in the next 10 years as far as content, uh, because it just seems as though AI is able to amalgamize education type content so well and like documentary type content so well. Like do you have any thoughts on that specifically that the info business content creation is going to be limited?

14:04>> I think it assumes that people didn't already have infinite access information. People already have that. Um, so I think that when people buy if like sure information, yeah, tough. I think everything that comes around that, again, that's stakes. Like people people know to Like you just recently lost weight, right? So people know they need to whether you know any like anything about fitness, you know you need to stop eating [ __ ] and move more.

14:33Okay, great. Your version of eating [ __ ] and moving more will be different, but fundamentally you have an idea that you do that. People still don't do it. Why? Cuz they don't have enough stakes or don't have enough motivation around it. And so like there will still be plenty of IRL and I would say human-based interventions that will still work to drive those stakes and drive that motivation um, for people. >> You said the richest you ever felt in your life was when you and Leila hit your first $100,000.

15:00>> Mhm. >> I You've since talked about a goal that you have where you want to help 100,000 young men make $100,000. >> I think that's small. I think it will do a lot more than that, but yeah. You might have already done that. >> [laughter] >> I'm being real. The difficulty is how do you measure it? Right? Um, if I were to give a meal to every person, I give a meal, you check a name off, and that's it, right? You can ship them out, and it's done.

15:26If I have to teach someone to do something, and then have to have them make money, and then have a way to know that they've reached past this point, like um when I announced that, I've gotten so many DMs to people like, "Dude, I'm one of those people. I made a million dollars cuz of you. I made 10 million dollars cuz of you." Um I'm one of those people. I appreciate it, man. Um awesome. Thanks, man. Um glad to hear that. Uh That's cool, man. Like I mean, school has 27 million users. So, 100,000 is like a rounding error. I think we'll do a lot more than that. Um I have a lot of other things in the works, too, that are that will come by the end of this year that will make that more evident. Um But yeah, I mean, I meant what I said. I I think that in order to change the world, you have to start with changing a generation. I don't think old generations change.

16:13So, you have to start younger. Um and I think that the best system we have right now is capitalism. It is flawed, but it is just the best flawed system we have. And so, in order to get people to buy into something, you need them to be reinforced by it. So, they have to have a good outcome as a result of it. And so, I think um all you have to do is look at every other country that has not had the system, look at their outcomes over a longer period of time to be like, "Okay, well, that system doesn't work." And to think that it's somehow is going to like this time it'll be different is ridiculous. It's like the you know, the abusive the abusive husband and the and the wife and then, you know, he hits her and he says, "I'm sorry. It'll be different next time."

16:45It's like, "No, man. That's the pattern." And so, we don't need to like wait for a dictator to take over to to know that that's how it's going to end. Um and so, I'm a big believer in free markets, and I'm willing to deal with the downside consequences of free markets because I see them as superior problems to the downsides of communism, socialism, and dictatorship. Which are not necessarily all the same, but >> Right. >> often. >> I like that a lot. Uh

17:11>> I mean, if money exists, it would make sense to me, at least, that capitalism is the best system. Um what is capitalism? It is a system that allocates capital most efficiently. So, it would make sense that it is the best at generating it. I know this is something you've probably been asked before, but things are so different now. If you had to go from zero to $100,000 in the next 3 months, how would you do it? Maybe if you could break it down for me in five steps.

17:40>> Sure. Um So, 100,000 total? 100,000 a month or 10,000 a month? >> 100,000 total in 3 months. Uh, no employees, just you. >> But, it's not me though, right? It's my skills, but not me. >> Yeah. >> Okay. >> [laughter] >> That makes sense. Right, and I don't have and I have and I have no network and I have no connections and I have no any of that. I I don't have my phone with me.

18:06>> You can use Claude. >> Um I I So, when you were starting out, you want every customer to be worth it. And so, I think one of the mistakes that happens when people are earlier is they don't sell expensive enough stuff. And so, like if it's very hard for you to get a customer, then you better make sure that customer is worth it, which means instead of thinking about scalability, we think about how basically potential money made from every person is what you want to maximize. And so, that means that potential value created has to be maximized, which means that we might do unscalable things in the short term in order to generate cash flow. And so, I'll give you an analogy and then I'll give you the steps, but or not an analogy, a story, but when I when I started my first gym, I did personal training with one client, and that client came 90 minutes a day, 5 days a week, which is a super like a super client. And I ended up making I think it was like four or five thousand dollars a month in total from that one client. And that client and that model of me just doing one-on-one like that obviously doesn't scale, but I was running my gym, the business, all around that. And the gym, I would just take the cash and basically reinvest in more equipment or I'd or I'd spend more on ads to get more people in, whatever it was. But, like I lived on the $5,000 a month that I was getting uh from the personal training client.

19:27And so, the fastest way to get to $100,000 is not the fastest way to get to a million or 10 million. And so, this is the big misconception with the question. And so, like if I wanted to get to $100,000, I would go to a business and say And the thing is is like I have already done this cuz I've already lost my money before and had to go do this. So, I this is what I did. I went to a local business and I said, "What are the packages you have?" And then I said, "What's the cheapest that you're willing to do deliver this packages for?" And I said, "Okay, if I go get your customers and I sell it, can I keep this percentage of what I sell if I go get them and I sell them?

20:03And then you get the customer for life after that." And as soon as I had some businesses that said yes, I then got them customers and then I kept the money and then they delivered the services and got customers for free. And so, when I lost everything, I made $100,000 the first month after I lost everything. And so, within the example, it's like I did that in 30 days. And so, you can absolutely do that. It's just that you have to work like a maniac and fundamentally, it was I had an offer that worked that I knew worked for a specific local business, which was a gym. So, I knew I could run a weight loss challenge and I knew I could spend money on the ads and I didn't have to spend a lot because, you know, if you can get 10 to 1, you spend 100 bucks, you have a thousand. And then after you have a thousand, you spend 10, now you're you spend one, you make 10 and you're good to go, right? Um And so, that was So, then I would get to limited by the facility's ability to handle customers. So, I would try and find the most empty facilities because I knew I could sell them till they were full, usually within 3 weeks.

21:02And so, that is literally what I did. So, step-by-step, I had an offer, number one. Number two, I had ads that I could record with my phone. Step three, I posted those ads and pushed them to a landing page. Step four, the landing page, this is at the time, just went to a Google Sheet. Uh step six, I called the leads on the Google Sheet to make sure that they got scheduled. And then, uh I think I'm on step seven, I would meet with those leads and I would present the offer that I advertised to them. And then, I would get them to give me money for that offer.

21:34And then, I let the business handle the delivery of the services and I kept the cash. It's the easiest business that you can run. It's one person. It's functionally an affiliate business. >> If you were going to think of the easiest offer right now, what might it be? >> Uh I mean, >> cuz I think a lot about winners effect and how people I I like to give people I don't know, those tactful gems even though they're not useful long-term because long-term is just the fundamentals, but to establish some type of winners effect.

22:08>> Well, the nature of the offer is going to have to be some So, one is you have to decide whether you're B2B or B2C, right? So, am I going to sell to consumers or am I going to sell to businesses, right? If I had no knowledge of anything, um and I just knew just basic AI stuff, it's not that difficult to go into a normal business to say, "Hey, can I observe your business for free and come with an AI plan that saves you at least $100,000 and would you be willing to give me a third of the savings or 20% of the savings that I get you if I can demonstrate that it will save that amount of money?"

22:43Most businesses would say yes. And this is like it's nothing up front. I just need these commitments. Like, I don't I don't think like And then, someone might say, "Okay, well, how do I get in touch with those businesses?" You've got two feet and two hands, you can knock on a [ __ ] door. Like, you have a phone with, you know, you've got two thumbs, you can text people, you can DM them, you can call them, you can email them, like you can post content about it. Like there's 100 ways, you just got to let people know about it. And the thing is is like, is that an in-demand service right now?

23:09Yes. And so the issue is more that people just don't have any skills. Like if you have skills, making money's not that hard. You do something for somebody else that they don't know how to do. So that means you need to learn how to do [ __ ] So learn how to do stuff and then do it for somebody else who doesn't want to learn how to do stuff, which really just comes down to like you have to be willing to work. >> What's the one thing people waste most of their time on that doesn't actually make them money? >> I mean everything that is not the work.

23:34Like I have one plaque on my on my wall that says focus is subtraction. Like everything that is not the thing is a distraction. So if we define commitment as the elimination of alternative, people are not committed. And so the most focused person in the world, most focused video game player in the world would not eat, would not sleep, would not drink water, and they would only play video games, and anything that is not video games would then be less focused. So if you drink water, you're less focused than the guy that plays 100%. Now, is that sustainable?

24:02No, but for the period of time that person was playing, that person would be the more focused person. And so there are a very small number of activities that generate money. And most of everything else is just noise. Like you have to let people know that you exist. You have to make them an offer that solves a specific problem in exchange for money. You have to get agreement from them and you have to exchange money for services.

24:28And then you have to deliver that product or service to them. Like it's it's I don't even like I don't know what else there is. Like I don't know how it gets that complicated. Like that's it. And people get I think I think really what it is is like people get paralyzed by trying to pick perfectly. They try to think like I want to have the perfect business. Well, like unless you're Bezos or Zuck who actually started their first business and are still in their first business as a gazillion dollar company, the vast majority of entrepreneurs that I know your first business is not your last business. It is your first stepping stone. And so I just try to get people to concentrate on on get a stranger to give you money to do something or for something that you make for them.

25:11That's it. Like that's that's all of business. It's literally just accepting money from a stranger. So you like you need a way to process money. You need an LLC if you want to use credit cards. You could do it for cash and not have any of that [ __ ] Like I actually I struggle with the question cuz I'm like what part are we missing here? And I think it's because there's so many people saying a lot of words that they don't understand and confusing a large percentage of people. It's like well you have to start with a morning routine. It's like bro, you don't need to do any of that. You need to let somebody know that you can do something for them and ask them if they want you to do it for them for money.

25:44And then do it. I I I don't really have a >> [laughter] >> Yep. And but like >> about right, yeah. I mean a lot of it gets distracted. I think about I I think about like our business because um I know it's not the typical business, but I think people focus on similar things. Like with my business, I sell to advertisers, right? And a majority of my time is spent on building the product to sell to them in a way, which is the content, and building like oh this is the data, this is the data, this is the data, here it is. And we spend so little time on selling because it's so important to present the good data.

26:21>> So how do you go about selling it? Let's do this. How do you go about selling it right now? >> Reach out to every single person at the company I want to sell to. Set up a call with them. Show them the data. >> You run ads on your podcast, right? You don't do any ads, but how do you make money right now? Just ads? >> Oh oh you meant I thought you meant like advertise like advertising the podcast. Yeah, yeah, we do a bunch of ads. >> Yeah, yeah. Can I give you a little trick?

26:49Run an ad for yourself. After this say hey by the way, if you or join this podcast and you would like your business and an offer to towards whatever products and services you have, I have this available. Um we get this many views per month and this is our demo. Uh reach out to me here. Would love to connect." >> Fair play. You sell media. >> [laughter] >> Use it. You already have it. >> Right.

27:15>> You have something that's free. You don't have to spend money on ads. You can literally just advertise on your own platform. >> Right. >> Yeah. >> You can advertise to people who want to 1 million to 5 million from that one. What else we got? >> [laughter] >> Hey, really quick. I'm going to take some of Alex's advice here and if you're someone that happens to have a company, I have a really dumb idea for you. So, instead of you explaining to me what a KPI is and writing me a creative brief and trying to hope that I somehow convert, I'm just simply going to make you money. Now, I'm not going to read you all my stats. That's insulting.

27:49Like, how many viewers and listeners we have. That's all at jackneil.com/sponsor. I'll wait. Disgusting, right? In a good way. Now, here's the offer. You give me the product, I put it in front of the most engaged audience of young men on the internet and you make a bunch of money. But, the downside is there isn't one. I'm really good at this. Like, if you haven't noticed, I dressed up for an ad about an ad. This is my wife's tank top and the Sharpie on my nose is going straight into my brain. All of this was for you. So, again, if you want an influencer that'll make the ad for you or do the ad exactly how you want, knows what a KPI or an LTV to CAC ratio is, just go to jackneil.com/sponsor and contact me there. You can also hit the first link in the description, but anyway, guys, back to the podcast.

28:43Why is it so important to build a data-centric business in the age of AI? >> Well, you can't have AI without a data layer first because like AI is trained off of data. And so if you want to have a unique mode in some way to a business and not be obviously like the frontier models are all trained on all of the free available information. And so in order to have any kind of edge on those models, you need to have proprietary information. You have to have data sets that they don't have access to um or that they don't have like call it clones or similar data sets cuz if you have a unique data set but it creates the same outcomes as a different data set that is not the same as yours, it actually does not have the same edge. And so you need to have unique data. Um that's if you wanted to have some sort of AI, you know, call it product as as a thing that you would sell.

29:24If you want just to use AI within the business, which I think is 95 or 99% of businesses out there, um it's more in order to have Let me use them up. If I wanted to have an employee come in, right, and do a job, I would have to train the employee on that job. In order to train the employee, you would have to document steps to doing the right behaviors. The documentation of those steps and the the when done right, it looks like this, that is all data. And so the more documentation you have around the processes you have in the business, which is what are the inputs, what are the outputs, and what is the basically the manufacturing process step-by-step that takes inputs and turns into outputs, and how do we know output is good versus bad, which fundamentally is just reinforcement training, which works for humans and works for machines, um we need to have that so that we can get the most out of the tools.

30:14That is all. Like it's just so that you can get more out of the AI. Versus having a generic out of the box AI, we have a this is how Jack likes to run the AI. >> Do you record yourself like all the time? >> Um not all the time. I would say that I record myself I mean, I don't record myself. I have a team that records me, technically. Um and yeah, when I do stuff, I I record it.

30:39>> Huh. I was just thinking like every single meeting, every single conversation I have with people, just documented data turned into the model. >> I think that so if you think about like the digital world and in the real world as two different places. So if you have a Zoom call, emails, everything that's digital is almost already pretty recorded. So your emails are already recorded, your Slack messages are already recorded. The only thing you have to add is for your meetings, your Zoom meetings, those get recorded and transcribed. If you do that, especially if you're a remote business, almost all your interactions are already recorded. So that's not that difficult to get access to. When you have an IRL business, you have to have more effort that goes into the recording. That being said, I think a lot of times the data can be a little bit richer.

31:19Um But yeah, so I'd say that when when if if I'm interacting with customers, then it is recorded. If I'm interacting with my team, it is recorded. If I'm not doing either of those things, I'm hanging out not with a camera on. >> [laughter] >> What's the real reason most businesses die? >> I think it depends on how we define businesses dying.

31:45Because most businesses die because the entrepreneur quits. Because if the entrepreneur doesn't quit, then it's very common for businesses to evolve and change models and change structures and change pricing. Um I can't remember, but I it's you know, there's a number of examples of like um I want to say it was like Mitsubishi or Samsung. It might be Samsung like started as something completely different from like electronics, but it started there and it just has continued to evolve. And so I think it depends on how we define businesses dying. If we say like this is bankrupt, it really like it like it's it's more like I I I would almost I'd rather almost have like when do like why do entrepreneurs quit is almost the question because like businesses come and go, products come and go, the market changes, technology changes. Like it's normal for those things to occur. But if it's more like if the question is like why would someone start and not succeed?

32:36Most of the time they don't persist. And their definition of starting is what most people who are you know, successful entrepreneurs would be like, you didn't even start. You know what I mean? Like I um I I had a This is a couple years ago, but I was I had a dinner with a friend of mine's kids and they were all college aged. And they said they liked entrepreneurship and so I you know, I I razzed them a little bit. And they were like, okay, you know, I'm I'm going to where I'm going to start this business. And I was like, awesome, man. And so I think 6 months later I saw him again cuz I was hanging out with him then. And I was like, hey, how's the business going? And they were like, oh, you know, I'm just working on getting the you know, the LLC set up.

33:13And when I heard that, I was like, what? Like, the LLC? I was like, that's like 30 minutes, man, tops. Like, go online, go on LegalZoom, go on whatever the hell you want. Like, it's all automated. And then like, take the LLC, start a bank account, like, you're okay. Now what? Like, that's Saturday. What else did you do for the last 6 months? Nothing. And so it's like the vast majority of business owners fail before they start because they never started to begin with, which is why I think courage is such an important thing. Like, you have to start.

33:45And a lot of times it's like, a lot of newer entrepreneurs convince themselves they did more work than they really did because they sat in front of a computer and messed around. But like, did you figure out something to sell? Did you let people know about it? Did you ask them for money to do it? Where do you fail there? Like, and if you have a service business, which is 70% of the US at least, you can always collapse service business down to just the person who started it.

34:14And so like, there's no reason for a service business to ever really fail. Cuz your your main thing is head count. That's going to be your main cost. You might have some capital expense for equipment, maybe. Right? But like, the vast majority is person doing thing for other person. Okay? So like, you can collapse all that down. Like, if you if you if you've gotten in trouble, it could still be you doing [ __ ] for money. So, did that business die? Might downsize, but it might not die. It dies if you stop.

34:39On the physical product side, uh you might have hard costs in order to sell something. That one is where like the core economics of the thing matter a lot. Um and so it's like we have to sell it for not just a profit, but enough profit to fund the rest of the business and growth. And that's where pricing can become obviously really important and branding, distribution, things like that. But that's a little bit further down the road, and that's not really why most people fail. >> Right. >> Most people just give up because I I You know, to be honest, like I I don't even know that many people who have failed at business. Realistically, I don't.

35:11I know people who have changed businesses many times over the years, but like people don't really give up. Most people just don't start. >> Mhm. On August 16th last year, you launched your book 100 Million Dollar Money Models, uh which teaches various systems people can use to build on bigger businesses. >> Not nine-figure businesses. I never promised that.

35:35>> To potentially build >> No, it's just build a business. Yeah. >> What's the smartest thing you did when you launched your book that almost no one talked about? We added 70,000 users to School on a weekend. >> How? >> See? No one talked about it. Pretty chill. Um I gave a bunch of all of my stuff away and also showed how to use Money Models in School cuz a lot of people who follow my stuff um do have businesses, but also there's plenty of people who don't have businesses and want to start a business.

36:11And so, School provides a very easy platform for you to get started in business. Like, you can accept payments in 30 seconds, and you don't have to like even go through the LLC stuff at all, and it processes the payments for you. So, like, you can literally just like start one about whatever the whatever you like, whatever you're passionate about, and then invite other people like you'd invite them to a party, it's just online. And you have a bouncer at the door, which is a checkout page that collects cash. It's very simple. And so, um I just put all the stuff from the books, applied it to that specific business, and said anyone can get for free for 90 days, try it out. If you like it, you can keep it for 9 bucks a month, and that has all the software you need to run an entire business with nothing else.

36:48And so, 70,000 people grabbed that. >> 70,000 users like uh consumers or like people? >> No, people starting communities. >> People starting communities. >> Yeah. >> This is a rumor, uh but did you break TikTok Shop? I heard this internally. >> [laughter]

37:08>> Um so, we So, basically, TikTok Shop um had a feature in how it did payouts that miscommunicated when a refund occurred. And so, we had um there was I think there was an influencer I mean, it wasn't obviously it was happening across all accounts, but I'm just somebody that people can attack. Um There was an influencer that I think had had made like $47 in total sales, something like that. And the sale that she had had, which was of the book, um somebody had refunded it or something like that.

37:42And the she got a deduction from her, which by the way, this is all TikTok. Like, I didn't build TikTok Shop. I used it just like everyone else does. But she had a deduction uh in I think commissions. Or she didn't get paid a commission cuz she she basically had a a debt on her account, which is like, "Okay, we paid you 17, but you owe us 17, and this next commission that was going to go out goes against this debt or whatever." There's some reconciliation happened.

38:10But the way that TikTok communicated it to her was "Alex is not paying you our $17 commission." And so, then she made a video saying that Alex is trying to, you know, take money from you or whatever. >> Mhm. >> But no, what they did do though is that this went all the way to the at the top of TikTok. >> That instant? >> Yeah. Um and they they corrected the the mistake. So they actually changed it so that it was clear that like this what like this deduction occurred because a customer, not the business, uh refunded and that is what's being held against the commission.

38:44>> It's interesting. Yeah, that >> Yeah, so I don't know if I broke TikTok Shop, but um the volume that we did expose a flaw that um they were able to fix. >> Huh. How much volume did you do? >> Um when I had it, I stopped doing it after that because I was like it's just not worth it for me. Um but I think we were doing like 300 and doing like 350,000 a week the last week, I think, in just book sales. But no, it was just it was one of those where like it's not worth my reputation to have anyone think that I would not like I always pay my debts. Like it is something that I like I will always [ __ ] pay my debts. I do not want to owe anyone anything. Um and it's very like I just it's just it's so core to who I am. I pay the debt. Um I like in my office book I talk about this, but I had $23,000 in my account. I had a salesperson who did $100,000 in sales. I owed them 20%. I paid it was like 22,000 something like that out of my account when I had 23 before I received the $100,000 that ended up almost all getting removed.

39:51Um because I I never want someone to think that I I do not I do not keep my commitments. >> Mhm. What's the biggest downside of building yourself into the type of person who can become a billionaire? >> I think it's very common that the pattern of behavior that creates financial success uh can create life dissatisfaction.

40:17Because the what you were looking for when you are building a business is what's wrong? How can I How could this be better? How can I fix it? And so it's a constant raising of the bar so that the business can grow. But when you do it that way, it often creates this constant sense of deprivation of never achieving what you wanted to achieve because by the time you do, you realize you could have done better.

40:44And so um I have a guy on my team who I would say suffers from this. Um and we joke that like uh hey, you know, if you go do this thing, if uh if it's great, um you should have gone harder. And uh if it's not great, well, there's all the reasons you messed up. And so there's basically like no good outcome. Um but I think that that's that's just a big part of it. Um and I think it's learning when to use that pattern of behavior and when not to. And so it's like what conditions is this pattern uh useful?

41:12And what conditions is it uh hurtful? It's just hard. Do you think you should ever meet your heroes? Um why would you not want to meet your heroes? Dissatisfaction uh like you have an expectation of what someone is. So would the question be would I rather live in a dream world than reality?

41:40Hm. Yes. No. I live here. And more information about reality will always help me better understand reality, which is where I live. I can understand I mean this is fundamentally the question of the Matrix. Which is I mean my favorite movie. Um you know, Cypher decides to unplug and wants to go back to the dream world. Um I think it's very difficult to know that there is reality and decide or opt out.

42:07I think I think some people do though. And they like and I also put no moral judgment on that. If if you want to keep living in a dream world, go for it. Uh it's just not for me. It has not been what has proven useful. Like if you live in a dream world, you were constantly surprised because your model for predicting how reality will work is flawed. >> Do you feel as though there's like an opposite of that? Because I think a lot of people live in this optimistic dream world like, "I'm the best. I'm a 10 out of 10. I'm going to make a million dollars." But there's also people that are like, "Never enough. Uh never going to be rich. This is never like going to hit." Like are there two sides of the same coin and then there's reality in the middle and you constantly try to adjust to that?

42:51>> I think it's more What do you want to have happen? And then what actions do you need to take in order to make that happen? If you saying you live in a dream world makes it more likely that you take actions that align with what you want to have happen, then do that. If you living in what you call base reality, these are super vague terms, but if that's what, you know, what we say, "I want to understand truth so that um by understanding that, I will take better steps towards getting what I want," then you should do that. But I mean, at the end of the day, the only thing that will matter is what actions you take and whether those actions have high likelihood of getting what you want. I think that they are less likely to get what you want if you do not have a model of the world that is accurate.

43:31>> Would you want to win the lottery? >> Really interesting question. Um I I do have the answer to that. Um so I bought a Powerball ticket when I was 20 20. And I remember I bought it with my like, you know, college girlfriend at the time. And it was it hit over a billion at the time when a billion dollars used to mean something. >> [laughter] >> Um and I remember when the drawing was going to happen and then I felt this incredible feeling of dread of like, "Oh my god, what if I win? I don't want to win." Because the thought that I had was if I win this billion dollars, I will never have been able to prove to myself that I could do it.

44:13And that was truly horrifying for me because it would literally be opting out of the one thing that I really wanted to do, which is to prove to myself that I could do it. Um which I know uh the zillion people will make their comment about how that's ridiculous and I understand, but like you live your life how I live mine, you know? Um I want to do things my way. And I think it's the same >> [gasps]

44:39>> uh it's the same as and this is I mean, actually the question that you ask is really, really timely for me because for my child, they're going to have been born into winning the lottery. And it's something that I'm acutely aware of. And I'm thinking I'd say like that is actually where the majority of my thinking has gone in relation to parenting, which is what you started with this with, which is like how do I how do I give them the opportunity to feel as though they have earned their place when they already are born into just such extreme material, you know, situation success.

45:27And so that's something that I think I'm thinking a lot about. How am I going to manage this? Are we also going to change our lifestyle so that they have a more realistic world? Uh cuz I think that also a large degree of like why people who are born into wealth I don't don't succeed as much is because their view of reality is actually not accurate. And so like the vast majority of millionaires are self-made, not inherited. And I think it's because they have a better view of base reality. If you're born into wealth, you think the world is different than it is.

45:56And so you act as though the entire world is like you and it is not. And so I think it's like people who have traversed worlds have the most accurate view. They see heaven and hell together as one thing and they're like, "Okay, these are the different conditions that exist and I need to be able to navigate all of them." And so that's what I'm I'd say like what I'm thinking a little bit about and also um you know, if I have a son um trying to make sure that he doesn't feel like he has to beat me to be worthy.

46:25And making sure that he would know that I am proud of his effort above all. And that if to be fair, it means I'll still have super [ __ ] high standards for effort, but that that is how he wins in my eyes. Um and shows courage and shows persistence and consistency and things like that. Um those are the things I'm thinking about right now. But uh to loop around to the original question that is why I don't want to win the lottery. And it's also I think a bit of a world view question because if we see life as the path we take and who we become along the path then it's like saying, "Would you like to have a video game and as soon as you open the game it says you won."

47:13That would be a bad game. And so it's like saying, "Do you not want to play anymore?" That being said in my current condition if I were to win the lottery I already have the credibility that I can build things and I know how to make money and all that stuff. And so it would really just act like a uh you know, just a a lump sum you know, call loan that I don't have to pay back from the universe for me to just like move you know, 5 years forward. Um which would be nice. Which I'm totally fine with. But at that moment when I didn't have it and I didn't have the proof, I didn't want it.

47:47Now if so anyone else to hand me a billion dollars is welcome to. Um in cash, totally good with it. But uh but it was just because it serves it serves a different um objective now. And it doesn't prevent me from walking the path that I have to walk to get here. Because person who wins the lottery who has nothing is very unlikely to have the skills. Like the There's a magic card that I have. It's my favorite magic card of all time. It's called Burning Wish. It said, "They wish for a weapon, but not for the skill to wield it."

48:15And so like just getting a billion dollars, that's why whatever it is, 80% or whatever of of lottery winners have lost all the money by the time by 5 years or something. Um, it's because like it's just potential. But if you don't have the skill to wield it, it's nothing. >> I want to touch back on something you said a moment ago. Uh, you grew up with a dad that pushed you hard. You said the moment your dad was proudest of you was when you were your saddest.

48:42>> Yeah. >> How do you make sure your child's happiest moments are also your proudest ones? >> I would say that I would I would reject the premise just because it assumes that that must happen or should happen. Um, and I don't necessarily subscribe to that. Um, but uh, because this is what I said in the beginning like all of this hinges on what do we define a successful parent as and what do we define a successful child as?

49:09If a successful parent means that they have a happy child, then that is one definition. If you have if a successful parent is a useful child that contributes to society, that is another definition. Those are not mutually exclusive, but can be. And so I think it all under like that's why I'm saying like that is what I'm That is what I'm thinking the most about right now. It's like how do I define success in each of these roles? Um, because I think once that's clear, at least clear for me, and people would people for sure disagree on whatever I come on because they'll have their own permutation, which I would say by all means live your life.

49:39Um, then I'll try and optimize towards that. I would say that the vast majority of like when you have, uh, you know, a happy parent and a sad child, it is typically because it's focused on outcomes, not behavior. Like, how could these things be mismatched? Right? If it's I want the kid to work as hard as possible to achieve their goals.

50:04In what condition would the kid be happy that I would not be proud? Right. You said, "Sometimes I think shame was invented by people who have to prevent people who have not from taking action." >> Hm. Do you think shame is an illusion? >> Um I would say shame is a feeling that people experience. Um and in order to know that shame has occurred, uh I would say that you broke other people's rules.

50:37So, guilt is when you break your own rules. Shame is when you break other people's rules. You can feel guilt and shame if you break your own and other people's rules. You can feel just guilt. The things that you do uh on your own that you're feel guilty about, um but you don't feel ashamed. On the flip side, um like basically, the things that you do on your own, you are ashamed of, but you don't feel guilty about.

51:04So, if I just like the things you do on your own. >> [laughter] >> Um if other people were to find out about that, you might feel weird about it, right? That weirdness is the shame. But if the fact that you do them, um means that you don't have any issues with it. You just know other people have issues with it. And so, it's just navigating basically what whose rules am I listening to?

51:26And so, it's a great signal to know whose whose rule book am I following for my life? Who benefits from someone feeling shame? Oh, I mean, it's a status thing most of the time. So, like if it So, shame has uses. Like, shame is not bad. It's like, shame is like, if someone does something [ __ ] up and it hurts lots of people, they should feel ashamed. And so, it's a very powerful punishment mechanism that we as a group of humans do to get other humans to act in a prosocial way. Like, we shame them. And it feels so bad because uh back in the day, you getting ostracized from the group meant that you could die. And so, it was a big point, like, you know, don't Don't do [ __ ] you're not supposed to do um according to our rules. And if you don't listen to our rules, you will know that you didn't listen, we will shame you. We will ostracize you, we will ignore you. Uh we will say bad things to you about you, and you will no longer have access to the resources that we have.

52:31So, I think shame absolutely has a purpose. The difficulty people have now is that like the stakes are different. It's not about life and death, but it still feels the same. If someone woke up tomorrow with no shame, mhm, how would their life change? Well, I think that they would do a lot of stuff that So, I think there's a reason that a lot of really successful entrepreneurs have, you know, call it touched by the tism or a hint of Asperger's or whatever you want to call it. It's like they have less They have less social feedback loops. And what that allows them to do is just think purely from first principles rather than reasoning through other people's judgments.

53:06And so, if you're like, I don't know if this is a good idea, I'm going to ask 10 people, um getting 10 people to agree is a great way to A, stay normal, and B, do nothing. And so, you have to You have to be willing If you want an outsized outcome, you have to be willing to do things the vast majority of people disagree with. Now, Larry Ellison said this, and I think it's it's very good, which is if you do what other people disagree with, either they are right, which is the vast majority of the time, >> [laughter]

53:31>> and you're wrong, or they are wrong and you're right. And in those instances, if you base both businesses around them, you make tremendous amounts of money. It's when you see something that other people don't see. And the way to do that is to be willing to accept it in the short term people disagree with you. And so that is where I'd say shame does not pay off in the world of innovation. But in the world of social construct and like behaving, I think shame is a very good thing.

53:57>> That's fascinating. >> Yeah, it's not good or bad. It's just it's under what conditions. Same thing with guilt. People should feel guilty about stuff. You broke your own rules. You shouldn't do that. >> Right. I'm trying to think through this in real time, but just as a mechanism to find like business opportunities and innovation, like should you be looking toward the places which people typically have a lot of ideas and opinions around and try to see if anyone's actually thinking from first principles?

54:25>> I mean, I think a different way of thinking about it is just like what is You want to find people's trash. What are people What do people think like I'll give a simple example. A way to spot a quote good investment is a team that enters the playoff and is the 16th seed out of 16 seeds and you're like, that is way too low of a seed. I think they're way [ __ ] better than that. That is where you bet on the fact that you're right. Now, that's truly sports betting, which I'm not condoning. But that idea is how you translate that into the business setting. People are really sleeping on old people insurance. Whatever.

55:00I don't see like nearly enough, but like I'm looking at the math, the you know, the population's aging. If I look at where wealth is distributed, it's all here. When I look at new business being started, it's all targeting here. I'm going to go there. Like it's just looking at at the at the numbers and saying like a lot of times the quote missed opportunities are supply and demand mismatches. So where is there significantly more demand? How many more people want this thing versus how many people are supplying that thing?

55:25And looking at those. So like why are peptides exploding? Okay. Why are like why is Myth Spot still a great business to get into? Because there's still more demand than there is supply. And the people who have demand are getting older and need it and have all the money. >> Right. >> But I think just I want to just make this one point for anyone who's listening, especially the younger part of your audience. You do not need to have something that is brand new. Like 99% of businesses are just businesses that already exist that you just need to You could literally just do the same and make money. And if you do better, you'll make a lot of money. Uh it's like if you want to have a multi-billion dollar trillion dollar outcome, yes, you'll need to do something that's truly net new.

56:04That being said, those things typically cost a lot of money upfront, which means you have to get into the raising capital game. There's nothing wrong with that. It's just a different way to play the game. That is how the the truly de novo ideas um can sometimes come to be, but I think that's very limiting. So like I took an entrepreneurship class in college. And I remember it was like everybody had to come up with a business plan. And like almost all the business plans were like inventions. Like almost all of them.

56:29And what's wild is that like that's not like if we were to take a random slice of of the United States economy, the vast majority of businesses are not inventions. They are just like mowing your lawn, cleaning your clothes, like, you know, selling cars, selling insurance. It's just like what are the things that people like The easiest way to look at like what opportunities exist, especially for customers who are like you, is just look at your credit card statement. Look at everything you spend money on. You are the customer. It's like are any of these things are things that I'm interested in or I think that I could do? Great, maybe I can start there. And a lot of these businesses don't necessarily require a lot of startup capital to to get going.

57:02You have a weed whacker. All right, save you know, save a little bit of money and you get a weed whacker. It's not like there's you you don't have to start really big. I think that there's this whole again, this is fallacy of the perfect pick that like the one business you start is the one that you're going to have the rest of your life and that's just not the case. You're going to learn how to market, you're going to learn how to sell, you're going to learn how to deliver, you're going to learn how to hire, you're going to learn how to fire, you're going to have to learn how to train. There's all these skills that happen even at a small local business that then you can translate to much better opportunity when you have a little bit more foresight, a little bit more capital and then you can take bigger bets.

57:28Yeah, I I I'm shocked to have met any people my age that are just like, "I I a couple laundromats, you know?" It's like no one's looking in those places. And it's the same thing with what you said with old people insurance. Like, probably a great opportunity, you know? If you audited your behavior since we last spoke, what's one behavior that moved the needle for you? And what's one behavior that you deleted? >> Hm.

58:00Um Think about what I deleted. I'll start with what I what we've added. Um We've We've fully incorporated AI into our content creation um and media as a business. And so, our content output has probably doubled, maybe more. You guys would know. More than doubled? In terms of total posts?

58:25Yeah, maybe tripled. With same head count. So, I'd say that's moved the needle. Um >> Doubled is big. How many pieces of content? >> It's a lot. It is a lot. It is a tremendous amount. >> Hundreds a day? A thousand? >> It's not a thousands a day. It's It's It's at least a hundred a day, for sure. Yeah, it's over a thousand pieces a week.

58:51Yeah. Do more, Jack. >> [laughter] >> So, that and that's only possible because of because of of AI um with the the head the head count that we have. Um From a deletion perspective, um it's more It's less that I think I've deleted things and more that I've automated away tasks that I was doing before. And so, like there are things that I was doing a year ago that I no longer do that are still getting done.

59:17>> Hm. Is there any like one tactical thing uh about AI cloud in general that you see people doing wrong? Like there you learned recently. >> Um I think people use AI to do dumb things very fast. So, like it still doesn't like because at least for now the models are very agreement biased, so they just agree with whatever you're saying most of the time. Um I think people just like get their cockamamie ideas confirmed and so then they just take lots of wrong action. And so it's basically just because AI says it's a good idea doesn't mean it's a good idea.

59:53>> Right. >> And so there's still judgment that's required today at least um to to make good calls. And yeah. And the thing is is that like no AI will give you more leverage than making a good decision. Like a decision can still have more leverage than AI. And there are still old men right now that don't use AI that are making way more money than the kids using AI. And so it's like it is a form of leverage.

1:00:22It has not replaced all leverage. Like I've got I have some older friends who are phenomenal business people and I'm asking you know I've asked them like how are you incorporating AI? And they're like I mean my teams are. They're like but I'm paid to take risk. How does it change who you hire? Like what people already have I mean think about it this do I hire people today or let's rewind the clock five years ago. Do would I hire somebody who doesn't know how to use the internet?

1:00:52Would I hire somebody who doesn't know how to use Excel or Slack or email or calendar or Zoom or the basic tools that you use to run a business? No. >> Do you test people's proficiency in like prompting? >> A lot more than that. Especially for that role that's super AI native. >> Mhm. That's fascinating. You built an AI version of yourself. Uh It recruits for you.

1:01:18It trains your team. It can coach people one-on-one. What's left that only you can do? >> Well, I'm here. So, there's this. >> [laughter] >> Um I think it actually ladders up to the the things I was saying earlier like I someone still has to make the call. Someone has to still be responsible. As of right now, no AI is responsible for anything. Now, maybe that'll change in the future, but like they don't have currently, you know, you you can't start an LLC as an AI.

1:01:48And then start processing payments and file taxes as an AI. That currently doesn't exist. Maybe it will in the future. Um but right now, a human needs to take the risk. And so, I am compensated for risk. I'm compensated for the decisions that that that I make. And even if you have an AI to assist you, you still are the one who ultimately makes the decision. They make a suggestion, they make a recommendation, but you make the decision, right? Um me existing in reality is still something that only I can do.

1:02:15So, if people will come to a conference and they want to see me speak, if there was a robot of me speaking, um they probably wouldn't be that happy about it. And it's like, well, I mean, you could just, you know, stream a recording of you. It's like, we've had that tech for a long time. And people still don't care. And so, it's just like the robo chess thing. Um a lot of it comes down to stakes. And risk is that version of that from a business perspective.

1:02:42But yeah, there's there's a world where I could have an AI doing my live streams for me, answering questions the way that I I would. But I still think part of it requires some level of I don't I don't know if the audience would be happy about that. Like, are you just going to hop on a live stream of an AI Alex? I don't know. I don't know if I don't know if I would.

1:03:08Um and so, there's something that there's something real about live that makes us think anything could happen, right? And that creates the intrigue and interest. And it's unedited, it's raw, it's not changing anything. A guy said to me recently, he said, uh anticipation is the number one emotion that sells. And I do think that AI, when it comes to content creation, like kind of cancels out that level of anticipation.

1:03:35What do you mean? Just it becomes predictable, right? >> I think it depends. I mean, I think that an AI like in the future when it's a little bit better, um can write >> story. >> And you might have anticipation of the story, even though you know the story's fiction. Same reason we read fictional stories now. So, I think you can still build anticipation even if something's not true. The question is just whether things that are real, people will still want to watch. Like there's a Bigfoot account, you know what I mean, uh that's on Instagram that I think's hilarious.

1:04:02Um but everyone knows it's fake, it's entertaining. If someone's saying, "Hey, let me give you advice on how to organize your taxes," uh there's higher stakes involved in that decision, and you might be less likely, not not unlikely, but less likely than maybe like a beauty influencer. Like if there's a fake AI that's teaching you makeup tricks, the stakes on getting that wrong are very low. You do your makeup wrong, you what you wipe your face off, right? Maybe you buy a pencil that's not as good as you thought. Okay, not the end of the world.

1:04:29You file your taxes wrong, you go to jail, right? Or you get a big bill and it sucks. So, like it's just as the stakes increase, the credibility of the person giving advice, and again, this matters more for educators than entertainers. Uh entertainers are I think going to be super bifurcated where if your entertainment style is something that AI basically has no stakes, then AI will completely wipe you out. Um and to be fair, there will also be human influencers, there'll just also be AI influencers that can just pump out more.

1:05:00On the education side, the higher the stakes of the thing that you are educating on, the more likely that proof of credibility be important. And so, like why are there no Like someone could take 100% of my content right now. I just [ __ ] that this already happens. Um they take the content and they just say the exact same words and it's them rather than me and their accounts don't do well. Why? Cuz I mean they're not even AI, they're HI, they're human intelligence, right?

1:05:26And they're doing the exact same thing. So why doesn't it work? Cuz they're not me. They don't have proof. They don't have the proof. If they also had sold a $46 million business and also had a portfolio of $250 million a year. If they also had, you know, 300 million in real estate. If they also had those things, then maybe the videos would perform. But the first question that anyone asks when they're about to before you even want to risk the time capital to invest in in consuming content, you you ask the question, why should I listen to you?

1:05:55And an AI will not have the answer to that for the higher stakes things in the short term. And as far as implementing stakes, like what variables can you play with to implement stakes into content, which is cost. Right? What? So if you think about content, this is funny that we're going in this direction, but um people will consume this is specifically people will consume content that's a good deal.

1:06:22So if I do 100 dates in 12 minutes, that's taking a full season of The Bachelor and putting it in 12 minutes. That's a good deal. It's a good return on your time. If I do 10,000 phone calls and I compress my learnings from 10,000 phone calls that I document me doing those calls and I say these are the three things I learned. And like imagine, imagine I had a time warp camera and I show myself and it has a little counter of all the calls I do while I'm doing it. And at the end I say, I learned these three things.

1:06:51I'll do it again tomorrow. That content would perform because they're getting a day's worth of value compressed into a few seconds or at least their perception of that. And so that happens at all the way up, which is like, okay, I built a business over this period of time, all these years, these are the lessons um that I've learned. I think one of one of my top five videos is just like 13 years of business lessons in like an hour or whatever it is, right? And so it's just like people want compressions of time.

1:07:17And so it usually comes down to time. Money is another version is a is a tradeable asset for time. So if you can save someone money, you can save someone time, you can save someone risk, they're trying to get a deal. >> That's fascinating. I've I mean, you've talked about that concept, I believe. Maybe it wasn't you, just that money is uh like units of human energy. It's compressed time. >> Yeah. >> And I guess content viewing is just kind of the same thing. Just packaged in a different way.

1:07:43>> Yeah, they're trading time for it. >> Huh. I think you might reject the premise, but if you built everything around being useful. Uh So maybe entertain this exercise with me. All right. So if it's all handled layless set your child's happy, the mission's done, the legacy secure. And there's nothing less that needs you.

1:08:10Is there anything you still want? >> I think that that's that um assumes that I can no longer be useful. And I don't think that's true. >> Huh. >> At the most basic level. Let's say all those things are true. Can I help someone across the street? >> Right. >> Then I can provide I can provide value. Like all we do is do that, we're just a lot more leverage.

1:08:38Like you can serve soup at a soup kitchen or you can build a million soup kitchens. >> Huh. >> Both are useful. Do you think if you were the most useful human in existence, you would still try to be more useful? >> Yeah. Why not? Why would I not want to help more people if I could help more people? >> Is there any part of your life that can't be optimized? You said maximalized. Uh

1:09:03>> Sure. >> that you kind of just have to feel your way through it like everyone else. >> Uh I was like What what is a relatable relatable component of my life? Um I'll give you three different extremes. So, uh one answer is like I go to the gym and I train hard and I train often. Not much of that is documented. Um and that is mostly because I just want to be present training. It's one of the few things that I just truly enjoy for the sake of doing it. And um like we had an idea for um a show a couple years ago called, you know, Between Sets and maybe I'll do something like that in the future cuz usually it's like between sets where I can actually get to do a lot of my best thinking.

1:09:42Cuz you're fully present. And I think the reason I've I've always been attracted to lifting weights in general, especially like heavier weights, is that like it's it's a forcing function for focus. Like if you have an amount of weight that if you drop it, you die, you you have to be present. And I think that that is why I've always loved training so much. Um and so yeah, there's no like from an optimization perspective, it would make a lot more sense for me to record content during that time period cuz you know, it's me doing it's modeling a behavior that I think a lot of people would like.

1:10:14Um I'm actually pretty good at it. Um and it's me demonstrating expertise in something. Like all of these things are would be good for the brand. Um I just don't because I honestly just enjoy it so much. Um maybe in the future I'll do like I'll peel off a couple days a month that I train and, you know, I'll have a camera there and whatnot. But I like it the way it is. So, that's like an example of uh could being inefficient uh and that's purely for enjoyment.

1:10:41On the um you know, the relatability side, yeah, but like I uh I get indigestion sometimes. I, you know, I I get pains and aches like everyone else does. I, you know, traffic hits me the same as it does everybody else. Like uh Yeah, I mean, is that I I don't know if that one was what you're looking for, but that's I live like like everyone else does. I mean, there are there are daily inconveniences that have been removed at the degree that I can, but there are some things that I mean, maybe I should take a helicopter home. I don't know.

1:11:12It's still going to take me time to travel. Like, there there there's something but like it's it's also like I don't really see it as like a negative. Like I'll I'll give you a different example. Like when when when Layla and I were dating, uh I was driving and we were talking about something and I missed an exit. And she was like, "Hi, you know, that was that was the exit." And I was like, "Great, we get more time to hang." You know, and so it's like, does it have to be a bad thing, you know, these inconveniences that we deal with?

1:11:37I don't know. >> Layla said before that when you two went out on your first date for frozen yogurt, her tattoo was visible on her back. Uh She implied maybe you weren't the biggest fan. Uh I'm guessing you've been able to move past that. >> We're married, so yeah. >> [laughter] >> If you absolutely had to, though, what tattoo would you get? >> Oh, um I don't know. There was one tattoo that I considered when I was 21, 22.

1:12:06Um when I when I set the Maryland state record, junior state record for uh I think it was I should I can't I think it was I think it was bench and squats, something like that. I It's hard to even I don't remember which one which one it was. It's Googleable. Um I thought about getting like a USAPL uh the logo, which is like a cool kind of like abstract half barbell. Uh like here. And then I just said, "All right, well, I'll give myself a year and if in one year I still want it, I'll get it."

1:12:36And a year later I didn't want it, so I didn't get it. And then that was pretty much like the end of my tattooism or like desire to have a tattoo. Right. >> You once quoted Idris Elba >> Yeah. >> saying men fall in love with what they see, women fall in love with what they hear, which is why women wear makeup and men lie. Mhm. What do you think makes a man feel addicted to a woman? Like, what's the one behavior that makes men fall in love with women that has nothing to do with looks?

1:13:11So, if we define respect as allowing someone to maintain their original function, or basically you reinforce them for being who they are. So, like someone comes in to your house, let's say you normally ask people to take their shoes off, but it's an old man. You show him respect by just saying like, "You're a good man." You show deference. You basically reinforce them for doing what they're already doing, right? And so, I think that um men in general, I think they've done surveys on this, but like more men would rather be respected than loved if they had to pick one. More women would rather be loved than respected if they had to pick one. It's like 70/30 either way.

1:13:53Um which is kind of interesting. And so, I think that um it's not one thing, but it's more an outcome. It's more of these set of behaviors that show respect. Something you said as well on this uh if you want to add any part of it was you said was making him feel important as well is the number one love drug, something like that. Um what are the behaviors specifically that you would guess would be within And I see respect as a lot like that. You know what I mean? Like, if if if someone shows you deference, like they're saying that your your ways of behaving supersede the rules of the establishment, or the rules of your personal preferences. You basically take their preferences over yours, which in a different way of saying like they become more important, right? Um but that is functionally what happens, which is like someone comes in, let's say they're tired after a day of work, rather than like unload all your [ __ ] on them, you would allow them to maintain their current state, and reinforce them for doing that. What else can I get you? I like and again this is not like a subservient type thing. It's more that like I think that that is what a lot of men crave. Now to be clear, I think you have to also earn that. And so that's the that's the trade. I also think that there are times when cuz it this goes both ways, right? Like if you have unconditional love, I think you also need to have unconditional respect. Now people get weird about that, but I think that like if we show up both ways, right? Now it would be less popular in current society to say like is there ever a time that a a a a woman or man does not deserve love? Now deserve becomes a hard word. It's like do we deserve it just because we live? Because we breathe?

1:15:26Because we exist? I don't know. Um I I maintain zero of these premises, but I just say only that that if we take it to its natural end it would look that way. Um I think that a lot of relationships do come down to um do you serve the other person and do you allow them to do you maximize the likelihood that they hit their goals? So I see support as minimizing likelihood of failure. So someone supports you, which also means it has nothing to do with intentions. Someone can have bad intentions and support you.

1:15:54If they do things that and it's like you like the people who hate on you, right? If they tell their audiences that they spend all this time working for about you a percentage greater than zero will find you and like you. And so they promote you. What a gift. Right? And so they support you. They minimize your likelihood of failure. And so you just have all these people who just advertise you. >> Yeah.

1:16:21>> For free. Which is crazy. It's amazing. So anyways um if we see support as minimizing likelihood of failure um and from a behavioral perspective like I think and I'll I'll just instead of saying most men I'll just say me. Um I value Leila as a woman. I know that Leila as a partner and I value and she has different behaviors that she does in both those settings and she's also my business partner. And so we have almost these parallel tracks and no one really sees like our married life much at all.

1:16:54Um but our business life is just us being business partners and we have a very good cadence on how we, you know, communicate about business. Um and we have lanes where I'm like this is your call. Like you know this better than I do. And there's some things that she's like this is obviously your call. Like what do you think? And we might weigh in on each other. On on a normal marriage setting um I would say Leila and I have far more traditional gender roles. Um and I think part of that is like both of us, you know, luckily came from uh same Middle Eastern background. And so um even though we're both born in the US, we're both first generation. And so we've adopted a lot of I'd say like very traditional views from that perspective.

1:17:29Um and so it's you know, it's a lot of small things. Like Leila still likes making me dinner. Like Leila still you know, she'll you know, rub my back. I'm stressed. So, you know, so it's little things. Like she'll clear plates or she'll just say like hey, I'm on my way to whatever. Do you want a drink or something? Like it's just very small stuff um besides like taking care of all the details of everything. Besides that stuff. Um but I think above all else, so this is your one thing.

1:17:59Um I think every man So now I'm going to go back to generalizing. I think every man wants a woman who believes in them even more than they believe in themselves. And I think it's having someone who on your worst day is still like you [ __ ] got this. You know? It's like you're Jack [ __ ] Neil. You got this. And it's like if your wife the person that you care and respect.

1:18:27And the thing is it's like this is where it's tough because I think there's a lot of men who are married to women they don't respect. They love them but they don't respect them. And then and that's their prerogative. You can do whatever you want. That type of statement means a lot less from somebody you don't respect. But when the person you you are married to is somebody that you actually respect, when they say you [ __ ] got this, it means a lot more. And so I think like I think at least Leila and I have a balance of love and respect both ways, and I think that it benefits both of us because it also goes back the other way where if I'm like, you're Leila [ __ ] Hormozi, you got this. Like I'm not worried at all.

1:19:04Right? And so I think that if we if we see marriage as a partnership, then it's do we have aligned goals? Because I think there there are unpopular, you know, um let's take marriage out of it cuz there's a lot of taboos. Take a business partnership. There's a lot of reasons that I think people wrongfully end business partnerships. There are a few that are the right reasons. One of them is that we want different things.

1:19:30It's very hard to optimize a machine around two different outcomes. If one of you wants to go and change the world and the other one doesn't want to leave the house, you will both compromise and both be probably pretty miserable. Um again, that's a choice. You can do that, but I would say that would be a reason to I I would go back to marriage, but like uh in a in a general business partnership, then that would be one where I'd say like this probably this partnership shouldn't exist because we actually both are not supporting the other person's goals. We're maximizing likelihood of failure.

1:19:55Um but if we have aligned outcomes that we want, and then underneath of that, we believe in this way of doing things, these behaviors is how we want to achieve this outcome, then the likelihood of conflict is significantly lower and the likelihood that the person can support the other when they uh deviate from the pattern of behavior that we've said is the pattern that we want to espouse or that we want to live by, then you basically have two guardrails on the bowling ball going towards the pins. If you only have one person that's holding it up, you only have it on one side, and then maybe it shoots off the other. But if both of you have a guardrail and you have an outcome, all you got to do is roll the ball, and if the guardrails are tight enough, you knock them down every time. And I think that is what a good marriage looks like.

1:20:38>> I I love all that. I I've heard you say bits of those things, but never all together. Uh so every guest gets to a point in my podcast where they won't tell the truth about something. There's a line they won't cross. Here's my version of it for you. Mhm. What's the one thing about money you believe that you've never said in a video?

1:21:06>> I'm I I very much struggle to answer that question because I feel like I've scrubbed every surface of money that I've that I've that I've seen. You know what I mean? Like how to store it, how to keep it, how to make it, how to multiply it. How to get people to give it to you, how to give it to other people. You know, the the upsides of money, the downsides of money. Like and a lot of it is just cuz like money isn't even a thing.

1:21:31Like it's just it's just a a generalized means of exchange. Like that's really it. And so I don't think there's like some deep dark secret of money. Like it's just a unit of measurement for us to store you know, to measure value. And that's why fundamentally like you don't even make money, you earn money by exchanging by giving value and getting it back and then getting money as a monetary exchange for you giving something and then them not giving you anything back so they have to give you money. Right? If you do something for someone else and they provide value back, you don't need to exchange money cuz hopefully the value was equal. If the value was unequal, you have some value and the rest is made up with money. It's just the the way that we we we balance accounts more than anything. But many of the talking heads that I see on the internet talking about money will use vague terminology and try to anthropomorphize money in terms of trying to make it human or some sort of amorphous thing or they'll add mysticism to it or manifesting it or attracting it where there's energy, money has a frequency.

1:22:41They make up all this stuff. And I think it's because they cannot be clear with their language in observable terms and it is easier to confuse people with rhetoric in terms of words that sound good when set together than the reality of what money really is. And so because they cannot be clear about giving instructions because they are not good enough to do it. There's a quote that I was told a lot when I was younger, which is um I don't agree with it. But it was said by somebody that I don't I don't particularly enjoy.

1:23:12Um but the individual said, um if you cannot impress them with your intelligence, confuse them with your [ __ ] And um I would say that like I would say I live my life in the exact opposite of that of of uh do not try to impress people with your intelligence and also do not speak [ __ ] Just tell the truth. State the facts without truth is the number one thing that we say in this marketing department above all else. But the thing is is that it's the whole truth.

1:23:38That's the hard part. It's the It's all the way down. It's six layers down truth. How like how true can this be? Um I'll give you a I'll give you a story that to illustrate this example. There was a guy who had a um he had a company that taught people how to like trade stocks, which is like a little okay. Day trading is probably not the And he's teaching day trading. And so um he he asked to meet and I was like I was very skeptical of this conversation to begin with. He said, "Hey, I want to grow this business." And I said you have a big flashing Vegas lights above your head, which is if you're so good at trading, why should I listen to you?

1:24:20And so he's like, "Well, I have $100 million in verified earnings trading." And like, "Okay." This is, by the way, why I took why conversation. I was like, "Okay, that's fine. Then, why are you selling courses on it instead of just like going making trades?" He's like, "Well, I want to make I want to impact people and blah blah blah." I was like, "No, you don't, dude. No, you don't. What do you like Please tell me the truth cuz I will be able to help you if you tell me the truth." This went back and forth for a little bit until eventually he was like, "I I couldn't sleep. I lost weight. The amount of stress that trading it ruined my life. I couldn't find anyone to date because I had to trade 24 hours a day and it just ruined my health and my dad died at 50 and I just saw myself going in the same path and he's like, 'I've made enough and I don't want to keep doing this as my main thing.'" And I was like, "That's the truth.

1:25:10So, in your marketing, you need to tell the whole truth, which is you need to say that, which is trading ruined my life. It's also the only thing I'm good at. And so, if you want to make enough money to ruin your life, I can show you at least how I did it. Can't promise it's going to happen for you. Um and my hope is that you make enough that you stop doing this and you can do something else. That is a compelling marketing message. Is it believable? >> Much more. >> I would buy that cuz it sounds like a warning.

1:25:38>> believe it. Yeah, cuz you believe it though. And so, that's the thing is just like people look for these angles in marketing, but like the the rarest stuff out there is the whole truth. >> [laughter] >> Yeah, do you want to do something really hard? >> You tell the whole thing. The whole thing. The whole truth. And that is what will make compelling advertising. So, to the the whole the whole truth of money is more so that people who lack skills around money make up words that sound good that mean nothing and confuse many people. And as a result, they take action on things that that not result in any money making and are confused as to why it doesn't work because their model of reality is flawed.

1:26:22And I would say that the vast majority of content I put out there, the reason I define terms so aggressively before I make statements or before I answer a question, it's like, "Well, are we agreeing on these terms?" is because unless we agree on terms, the reason every agreement that makes any sense, the first part of every legal agreement, which means that we have communication that has stakes, is a recital of [ __ ] definitions. What does territories mean? What does non-compete mean? What are like we have to define these terms. And so it's it's funny because like I was uh at a podcast the other day and they were like, "Well, what do you mean by that?" And they like try to throw it at me and I was like, "I will define anything that I say because I stand by the words that I'm saying. I choose these words for a reason."

1:27:02When someone asks a question and then I ask them, "What do you mean by that?" And then they get flustered. I'm like, "Well, then you're asking me to answer a question for a world that you cannot define. So, how am I supposed to get you what you want if you don't even know what you're asking?" I had an exchange recently with >> [laughter] >> um with uh um someone in this company um that uh not that recently, but uh that they made a request that I speak to them um more more politely or kinder.

1:27:35And I said, "I'm super happy to. What does that mean to you?" And so it ended up being that they wanted me to put a prefix before I before I made statements. So, it's like, "Could you just ask these as questions rather than as statements?" And I said, "To be clear, if I do if I say it as a question instead of a statement, you will deem that kindness and and and politeness has been has been checked?" And they were like, "Yes." And I was like, "Done." And literally as soon as I started doing that, they were thrilled to tears. I was thrilled to tears, too, cuz I want to communicate in a way that is your preference. If your preference doesn't cost me anything to do, then I'm happy to to oblige, right? But the thing is is that so many people will use these words, and these words are used every day. Kindness, politeness, empathetic, energy, you know what I mean? Vibe.

1:28:18Until we define what they mean, we're just making noise at each other assuming the person knows, when we don't even know. When someone says, "I'll know when I see it." That just means that you haven't defined it yet. If you want to see it more, tell them what you want to see. >> [laughter] >> And that takes work. Because you have to think, "I mean, Susan's so lazy." You're like, "What makes Why is she lazy?" Like, what did she do to cause you to say that?

1:28:45And then eventually, it gets really down to like, she's pretty slow on Slack to respond to [ __ ] Okay. Well, if you want Susan to not be a lazy Susan, um >> [laughter] >> then we just need to say, "Hey, Susan, just respond to Slack faster and people will start to stop thinking you're lazy." That's it? Great. It's just like when you drill down, it's like you can become clear with your communication. And so, I would say that the vast majority of my communication around money my attempt at all has been absolute truth, and truth as I define it is an observable reality.

1:29:15And I try to use only terms that I can say that I can see with my eyes so that other people can also see it with their eyes and do with their hands and feet. >> On our last podcast, I asked you what words you would leave to the world if all your work was erased from history. Some people liked what you had to say. Uh I'll change the premise. Alex, you regularly talk to the 85-year-old version of yourself, Solomon.

1:29:40The one who's already lived everything and is at the very end. This question is for him, and the answer is for you and everyone else. Solomon. What do you understand now that you couldn't see when you hadn't hit your number?

1:30:08>> The easy answer to that question would be that you know, it wasn't worth it or you know, you were going to accomplish it anyways because you're the person who is the accomplishment. Like those would be the I would say like the answers that people would applause and be happy for. But for me like specific numbers did change my behavior.

1:30:33And so I would say outcomes, accomplishments, material success it is meaningless if it changes nothing about your life. If it changes your day-to-day, then there was a purpose for it. And I tend to try and define my goals almost exclusively by what will this change about my life. And so if it doesn't change my life, then I likely won't make it a goal of mine.

1:31:03And so right now I have I don't have a tremendous amount of insight on it because I'm actively in pursuit of things that I've wanted and the things that I have achieved up to this point, I also wanted. And in achieving them the things that I thought would happen have.

1:31:29And so I never set out on the journey that I have to somehow reach some magical nirvana. I never expected that and so that's not what happened. Um I expected that I would become more useful and help more people as I gained more skills and leverage and that's been true. Um And I'm good with it.

1:31:56Um and so I would say that I have not had a magical revelation. I would say it's been largely that the things that I hoped would be true came true. >> Do you suspect 85-year-old Alex will care so much about being valuable? >> Uh yes, I just think that the value change.

1:32:21It's just that the way that I will be valuable might change. That said, typically um Arthur Brooks talks about this. Um where basically there's there's these two kind of mountains in life where the first, you know, mountain is basically all based on fluid intelligence. Just like how how sharp are you? How good's your memory? Like and a lot of achievements in basically the the domains that require the most fluid intelligence like mathematics. And so like after you're like 30, like no one has ever gotten a Nobel Prize. That's like all of it is in teens and 20s, which is like everyone's peak and therefore that they just go down. You just don't have the processing power.

1:32:56Um and then there's these different career paths that like they peak later and later and later. And the career path that has the latest peak, that basically doesn't really have an end, is historians. And so uh the people who have the largest contexts of just pattern recognition. And so you look at like the Warren Buffets and like they're they're study years of huge amounts of data and they synthesize decisions, right? And I would say that the role that I'm currently in and that I continue to move more in that direction of is is translating um things to the masses, which is pattern recognition, teaching, explaining, breaking things down. And those are skills that get better as you get older, not worse. And so I would see an 85-year-old version of myself as having more proof than I currently do, having more track record.

1:33:43Um I would say that there's a Like I'm I'm very open to change. Like I think there's there's a lot of People see snippets on the internet and make a caricature in their mind of what the rest of this person's reality is. And that's just the nature of the internet, and it's short form, and that's fine. But as a result, I will get questions that are like this, which is basically to this caricature of me, which is not reality. Like I have very strong beliefs loosely held. If there's new information, I will change. If the day my kid is born, I want to do nothing else but hang out with the kid, I will do that. Why? Cuz I can.

1:34:28Like I optimized for freedom for a long period of time, which is like, how can I maximize my optionality? I do think that there are times when you choose to actively go against optionality in order to make commitments, to have dependencies, right? Like having a family removes optionality. But I don't see that as bad. Is it You want to Like you want to have options, but not to always just have options. You want to be able to have options so that you can select the option that you want.

1:34:55And so I think this is probably one of the biggest issues that This might be the most valuable piece of the podcast for young people. So let me just make this point. Right now, I would say the youth of at least the Western world is obsessed with the idea of independence, freedom, and optionality. They want to do it their way and have all options open. They never want to get tied down. They don't want to commit to a career. They don't want to commit to anything. It's because like I don't I don't know if something's going to change.

1:35:24But the optionality that we earn it's like just making a ton of money, but never spending it. If you die at the end of your life with a big pile of money never having spent it, you wasted your life. It's like the ant that saves for winter and saves its entire life, but never actually eats this big breadcrumb, and then they're gone. And so options are like money, which is that the only time that they have value is when they are spent, when they are used. And so in the short term, you'll have those options, but you need to like the part of growing up is making commitments, which is eliminating alternatives, which means you make you walk through one-way doors knowing that you can't walk back.

1:36:03And like I see that as a big sign of maturity. As you've taken these steps because you've decided and decidere, right? The Latin is to cut off. You cut off options because you say this is more meaningful to me. And it's because people are unwilling to make trades. Like all decision like there are no solutions, there are only trade-offs. So like you will sacrifice novelty for loyalty when you get married. That's a trade. And at some point it will be worth it more for you to have loyalty than novelty in your life.

1:36:34Right? Um And so there are many trades like this that we have to make, but the ultimate trade is the one that we don't make when you basically get neither thing that you want. Because you sit on the sideline with your big stack of money, your big stack of options never having used them. Because some doors also do close. Because at a certain point you do lose options by not committing. >> Right. >> If you were a girl and you want to wait for your options, if you're 60, the likely that you're going to be able to have kids is very low.

1:37:05If you didn't have kids by the time you're 60, I'm using that as an extreme example here cuz I don't feel like dealing with it. Um then you're probably not going to have kids. And it's because that option is now gone for you. And so some options have an expiration date on them. And so sometimes we just have to decide and realize that we will not get everything in life. And I think that is that is probably one of the biggest things that I would say like what has changed about me from a maturity perspective is realizing that you cannot have it all. And like very viscerally.

1:37:32Like if you want a house that has a mountain view and is on the beach and is also secluded but walking distance from grocery stores and shops and shopping, you can't. Because you can't be in the mountains and then also have the the the the shopping malls and all that stuff. And you can't be on the beach but also have the mountain view. It doesn't like these things these things sit separately. And if you want to also have uh the beach but also have skiing like there there is no place that has those things. And so we want everything and are unwilling to sacrifice anything and as a result get nothing.

1:38:11I'd say that's probably the biggest thing that has changed as I've gotten older is that I'm willing to make trades. Beautiful. Um Well everyone, this has been your guest Alex Hormozi. >> [sighs] >> This is the Jack Niel podcast. Where can people find you? The internet. You search my name, you can find whatever you want. I've got books. You can read them. They're free.

1:38:40If you want a hard copy, they're obviously not free but the digital ones are free. Um I've got lots of courses on my site, too. They're also free. You can just watch them. You don't have to opt in. Um I've got full stuff on the YouTubes and I've got a podcast of my own. You're welcome to check it out. The Game. Cool. Appreciate it. Appreciate it.