i just got a text message that says let's get some estrogen in this bitch that's right we have a guest host today sam is out he had a baby congratulations to him but we have cody sanchez here to take his place and cody texted me because she says i got at a bunch of ideas for dudes who don't understand the women's market and they're not playing these games there's less competition but these are big opportunities so she said she's got four ideas that are blind spots for men but that the women will understand so for the four female listeners out there this is your day today is your day the moment you've been waiting for it only took us five hundred episodes to make an episode that is catered around ideas for the the market for women i could barely even say it i don't even understand i'm excited to see what she says the second thing i'm gonna do is cody is always on social media talking about buying laundromat mats and i'm gonna ask i'm gonna ask here cody do you really buy fucking laundromat mats and do these make money and why are you buying these things so that's what's coming in the second half of the episode and at the end i'm gonna ask her about her content game because she's built up following millions of followers now she said she does a hundred million impressions a month across all her channels and this is all kind of in three years so she's built an amazing social brand but with that comes a bunch of haters and people saying that she's just like a a business guru or a g so i'm gonna ask her straight up i'm gonna say hey what's the deal cody are you g and what's your response to that address the haters and we're gonna ask her to address the haters so that's what's in this episode hope you enjoy this steps episode with our guest host debbie sanchez i feel like i could rude where i know i could be what i want to from at all in it like a days off on a road okay never what's up we got cody sanchez in the house guest host congrats to sam he had his baby he's out on on daddy leave patty leave whatever whatever people call it nowadays he is going skin to skin he is sw he is diaper changing i'm sure he's doing all those things haven't actually asked him because gotta get the man space but i decided while sam out i wanna have guest host so not just a guest but a guest host and what i mean by that is here's a criteria somebody who i already know and like so a friend friend of the house number two is they gotta know the vibe so they live listen family they know that what this podcast is all about is talking about ideas opportunities or interesting businesses that not everybody knows about so they gotta come prepared with that and it's like a host you're taking the role of sam cody how does that feel are you are you ready to be sam do i have to drink cold water yeah if i also c host does that you know sam really really well you hung out with them in person so i feel like you his you know his vibe yeah totally yeah no sam was a dear friend and so is sarah and i think they're gonna make hell of parents so i'm stoked but yes this a big huge giant shoes and he's a giant man to fill so i'll try to do the best can and for people who don't know give us like the thirty seconds you know who are you so that so that people understand who you know who they're messing with yeah well i run something called can train thinking which is probably hope people know about me on the internet that's a newsletter actually like slightly inspired by sam and our other friends at morning bro it's got a couple hundred thousand subscribers now hoping to get to the million by the end of the year and that media company overall gets about a hundred million views of month like five million subscribers which is kinda cool and i talk on the internet about boring businesses and stuff that i've invested in for a long time so for forever i'm like old for the internet but for forever i was in investment banking and private equity and buying in small businesses like private equity people do and then just holding them and i guess like the real way to say would be a family office and then that became bigger so we turned into a holding company and now we buy what i call small boring businesses and then talk to other people about how to do the same so you sent me this notion doc that can only be described as prolific epic it's got like thirty genuinely interesting ideas or opportunities in this we're not gonna get through all of them but i bucket some of them into category one so opportunity one you called let's get some estrogen in the bitch go ahead i'll take the floor i feel like because i am a legitimate fan of the pod i know i know my fellow pod listeners nurse and the idea was that for everybody on twitter bro who typically lives to this podcast maybe there's this like segment in the market with a little bit more estrogen than you guys have that we could steal at homework and there all these businesses that like i would love to see more of and so since people in the pot actually go out there and do things and build these businesses we'll give you some ideas i don't know where you wanna start but i basically was joking with your your producer and i was like is this legitimate or is cody crazy and she was like there she said explicitly i feel like you saw into my soul yeah so it's safe to say women everywhere i think we'll like these ideas so you'll tell us if you hate it on the internet yeah i've known producer ari for she's been with us for like two weeks now three weeks maybe and i've never seen her smiling this hard she's so excited for this segment so i wanna do the one that that stood out to me right away you you said the traditional wife movement oh yeah i think the best business idea start with like a a behavioral observation so just a behavioral phenomenon you notice people doing something or you notice the pendulum swinging where people used to feel one way or the popular sentiment is one thing but you notice people starting to gravitate towards the other end of that of that spectrum that's usually where there's like a real real opportunity so what's what's an observation here that you have yeah so so if people don't know the rad wife movement i find a fascinating and basically well how it came across it as juan does is i was on instagram going my life away and i saw this like beautiful woman flow dress no shoes running through like what i could only describe as a field that was her house and an overlaid on top it she had like a little child in front of her and it was like girl boss question mark i wanna be a hobbit mama and i was just like giggling aid kind of ridiculously at this and then i thought what i kinda i gotta feel that like i feel like we we know from covid everybody like wanted to go be a gentleman farmer right i think you guys talked about that but this is like the two point o version and so what happened from this one video i saw is that instagram realized i watched it longer than i guess i do with other so i got served up all this stuff and boy before you fucking know it sean i buy some white pumpkins some flowers to press on to them and i'm fucking gluing pans on a pumpkin now you actually know me they're like i don't have hobbies like all i do is work we run a bunch of businesses i'm like not that fun and i'm i'm sitting in front of the tv gluing pump guns and that's what i realized i think this is gonna be huge so i looked up the tiktok abuse for this search of t wipe a hundred and eighty seven million which was wild and we could like play with a bunch of different ideas but then i was like maybe this is the counter culture movement to the call her daddy move which like used to be the top of the charts and looks like it's come down from top one or two podcast podcasts to top twenty to thirty on the charts and so the idea is how can we play to that market there's so first of all do you feel threatened no i feel like you're the girl boss like you you are in the the top ranking if somebody said oh name like five girl boss people be like oh rosa then gonna a you like i feel like that's kinda you in terms of your public image do you look at this like you know k nights in in some way where you're like oh shit they're going the other way now what what what do what's your reaction to this well like honestly that whole girl boss boss babe babe bosses money like i wanna die i wanna die on the inside and he's kinda i any of those names and i remember once i got invited to a speech and they were like we need a female ceo to speak here and i was like i'm really unclear what my vagina has to do about this and the guy was like like i just feel hip shi right you know honest his email like i was like i don't think it's relevant so i'm kinda curious i'm hugely biased so who knows if i'm right but i'm happily married i'm like a very big family gal like i i don't talk about sex on the internet like call daddy i think you stood whatever you want just not my jam so i'm kinda curious like we had these two worlds for so long right you were either single crazy fe you know don't no man independent right or you were traditional stay at home you know protect the the familiar unit and i just think both seem sort of ridiculous so can't we have people who like i don't know both people have some sorts of hobbies of course work and that maybe just wish thinking because the world's too polarized for that well i think i totally agree with you and i think that obviously we in a way we simplify ourselves to make ourselves a great brand like they're simpler the logo the simpler the slogan the simpler the the the the less three dimensional you are the easier it is as a brand initially and then of course you're like no no but i'm i have all these layers you know i i do have the soft side i do have this right like i do this every anybody who's built a brand on the internet does this you first simplify and then you try to add depth and so the downside of the simple the upside of the simplify is you get a whole bunch of followers a bunch of people know you for boring businesses and kicking ass in the in the business world people know sweaty started for this sweaty startup thing they don't wanna hear his stock picks they don't wanna hear his other stuff because it's not on brand for him and of course people do wanna shift over time what i find interesting in this like this observation of i actually think there's three so i think there's the caller daddy which i'll i'll put in there which is like the sex positive sort of like girls can be players too it's more of a relationship empowerment thing but not so much career then you have the career work empowerment which is like you know like said what does my vagina have anything to do with this and then you have the sort of traditional values and of course people float between all three depending on the day the situation the face of life that they're in etcetera i've definitely noticed this movement coming because my wife is exactly like this she's like she's like yeah it's i can't say this like out in the world but kinda like gender roles like i just want you to take out the trash and i'm down to do this stuff with the kids and then i i just want you to always drive and like she's like why i don't wanna fight all this and she's also like she's worked she worked really hard she we had a better career than me when we met and stuff like that like she was totally good at that but she also was like yeah i really wanna be stay home wife like that's my next phase you know i i want that i just wanted do house stuff and like that's where her mindset was at the time and so it is very in and but i but i noticed that she couldn't really come out and say that and anytime there's like there's a belief or behavior that can't be said there's an opportunity this is what trump capitalized on when he became president was there was a bunch of thoughts in people's heads that he was the only guy willing to say out loud and and there's a whole bunch of examples of this in business where there are like grinder is a good example of this there was a behavior that was happening that was not compatible with traditional dating and grinder came in and enabled that spoke to that and was able to do it even though it was somewhat taboo they're and they're not always in these like sketchy areas another example of that would be snapchat so when everything became public and permanent because it facebook was the big social network and then instagram was a big social network and it was like perfectly filtered photos publicly on display not even for your friends and family for all your followers and it goes on your feed and then you had snapchat come out which was like make a silly face is gonna disappear in five seconds and so it's like the the bigger one thing gets the craving grows for the opposite for the other for the anti whatever the current thing is it's true well even i mean you can see it if you look at the kardashians body types for instance like they were like you know they were they had a lot of butt they had a lot of up top they had a lot of curve going on there for a minute and that became the the door right you saw like people getting fillers that were huge i mean huge industry c and and men's spas experience the biggest growth increase during any historical period in the us which is wild we looked at vest in a couple of them and i was like the margins these places make is incredible and then what do you say now the kardashians if you're up up to the no now sean the kardashians now are like removing their brazilian butt lifts they're taking out fillers there's like that one black china she like got rid of everything guess she had a ton of stuff right and so i think even the the really really big celebrities are starting to realize oh like the trend is changing and so if you're you're as as as committed to the cause as those late saw you change your whole body which is wild yeah that's one way to look at it for sure i remember the first time i heard bb i thought somebody was talking about like a basketball league like a brazilian basketball league and i was like oh this could be a great conversation and then quickly realized i was completely out of my death i had no idea what anyone was talking about put it true right like the jenner kendall jenner or whatever like totally opposite body type as as kim kardashian right so this is i guess i sign the times so what would you do off so you notice the tread movement you see the tiktok views going up you see people more in this lifestyle you start buying white pumpkins and hot gluing live left love on them so what what happens next what's the opportunity here okay well a couple of them that i thought we're fascinating so one is i'm sure you don't spend your time in the weekend here but a bunch of chicks and people do in general it's called hobby lobby and basically it's you know crafting but if you think about what the store looks like it looks like kind of a gnarly cvs right fluorescent lights everything's a little dirty too much stuff crammed in there why does anybody need four hundred seventy two tooth butt toothpaste skews like nobody knows and it's always packed which ast downs me then i was like how big is this company and apparently they do seven billion dollars a here in sale which is wi and then t tj j maxx home goods and that whole entity is like fifty one billion i don't know how big home goods is as a portion of it but home goods would be like hobby lobby but it's done for you so hobby lobby is like here's a bunch of here's a recipe think we're gonna give you the ingredients you put it together and then home goods is like cody doesn't have to paint the pumpkin it's already there she gets to buy it live laugh love included right right and what i thought was funny is i was chatting beforehand with ari about this and i was like there's some crazy thing about women and candles is your wife like this sean does she love a good candle crazy yeah go on here i did not stand by that one for selling by the way she doesn't listen don't worry just never heard what episode but women like we as a gross general i'm sure a bunch of people are gonna hate this on the internet afterwards but as a gross general there's like something that we love about a discount on like a home goods item like a nice little vase a candle drives men's crazy but i think that there's a play here for home goods or hobby lobby two point l and all you would have to do is have any sort of retail experience walk in there go oh god there's nothing nice about this place except that it has what is required and like church it up so that's one thing especially because because retail so cheap right now like we own a commercial strip mall and couldn't feel the fucking thing i mean really have a hard time and so i like that play i like that too i have a friend that owns almost a billion dollars of real estate outright so not a fund like they own it it's about sixty forty equity and debt and they one i was like and they do commercial retail and i remember sitting with him and i was like do commercial like isn't that dead like what do you in my world it's like everything's going online and retail brick and mortar like this is a graveyard you're leaning in you're you're doubling down why do you don't you need to get rid of this portfolio asap and he was like yes in general but there's a he's like the segment i went into is like super resilient nobody can touch them he goes my number one tenant in all of my he basically goes to these like giant strip mall type places like over shopping centers that are empty can't can't fill a a a lease and he goes to hobby lobby he says would you like to be here and hobby lobby he's like yes we're expanding because i was like who's expanding right now he's like i'll tell you he's expanding hobby lobby home goods and then he explain all these and he's like basically anything that's got this kind of diy craft thing he's like it's you you can't touch it it's like there's there's so much demand for it they just keep expanding he goes also the home good thing he's like there's there's like a treasure hunt dynamic to it there's is exactly what you just said he goes women want to physically go to the store because it's a deal hunting experience that if you can find what did you call a v is a vase and a vase the same thing same thing yeah wow you nailed that and you just cool if you say one and your me if you say the other alright gotcha so you go you find you find the deal the sort of needle and a haystack type of thing and it's kind of thrift shopping but at a like high end you know in a high end way he's like yeah these are super resilient right now and there was a couple of other categories like you know call repair things like that things that you couldn't take online but he's basically isolated into these like super resilient ones that now are like oh we can go pick up prime real estate everywhere because of this and i'm with you the hobby lobby one point o which is like the current hobby lobby is like you know half cvs half home depot or something like that it's not yeah exactly it doesn't look like at etsy or or instagram and i think if somebody just said which by the way you know that that woman joanna gaines the tip chip in joanna they have the you're church up her name i think it's joanna but joe with joanna either oz sort situation so she's got magnolia the store in texas somewhere have you been waco yeah yeah i've been it's fan i mean it's disneyland for like middle aged white women like thick basically like damn you went middle aged for yourself though wow i know well now that i'm late thirties you know the tiktok tells me that's middle age but what's fascinated about joanna gaines is she she disrupted like three industries that people said they're dead magazines how go a magazine that does hundreds of millions of dollars in total revenue from what's built around it that's wild and then she did it with act an actual retail space and then she also did it with well i guess e comm is at dying but she has an incredible e com business so two three so they yeah would it be just like magnolia but scaled is that like would that be a winning idea here well i think we could play some games here so i had a friend that used to run gosh what was that store west elm so she she used to run something called west elm local and it was basically like here's west elm but in in your local area you have cool little kinda like you said pop up etsy shops that are inside of west elm and they're from local providers and the cool part about that is home goods rotates its inventory almost i think it's twice a week tuesdays and thursdays i don't know why i know that but i do and they and and west elm local kinda did the same thing so they would bring in new clients because you would only be able to get this limited edition pop up vase or whatever for each period so i think that'd be cool you could try it like a one point o version would be like could you do a pop in at hobby lobby could you try to talk to them into like for instance hobby lobby is very christian values american like the they have like bible coast quotes up on the up on their headquarters they i used to sell them investment products back in the day and so you walk in your headquarters and it's like the bible on the wall and and so maybe you could talk them into like a local christian pop up thing that would go onto the store could be like an easy little one point zero way maybe not easy because so you'd have to get b2b to b and then maybe you could do like a like a pop up crafting one around a different holiday and then if you're a big time like your friend with a billion bucks i would love to go into these where it just was a better shopping experience yeah i feel like somebody should just take a house and they just turn the house into the shopping experience and basically like just stage the house and then you can come in and you could just basically push a button and get any of these things delivered to your to your home from there and you could even kinda like franchise that concept out and just let let people kinda curate their their own the one the one thing though i'll say and i'd be curious we'll see if if area agrees with me and others but like there's something about you go there and you get the thing so i don't even think we're not even give be a box we'll give you an box we will leave with the candle we wanna go put the flowers in the vase immediately it's it's literally if you go to tiktok and school rounds for some fun times there's all this stuff about if your wife's upset you just tell her like let's go to home goods honey and like take around and get her some candles that's a great idea yeah be you write that down for i don't even need to write that down that went straight to my core memory as like just default actually i'm gonna do it preventative every friday just just in case and it's cheap so there's that you had another one on here that i thought it was interesting you said you tried to buy a halloween express okay wait that's fascinating didn't tell me why'd did you try to buy and why is it a try it sounds like you didn't end up buying it why not we didn't end up buying it somebody else bought it and basically we try to buy it because we saw was six hundred thousand dollars for a pop up location and i should make sure i get this right but it was like three or four retail locations plus whatever last year's inventory was so there was like a lot of there there they already have the leases they already have the locations and it was right before halloween not point so this is halloween express is like spirit where it pops up for sixty days or something like that but before halloween and it just takes over a vacant space is that it well yes could take over a vacant state space a lot of times they pre renegotiate the contracts but basically you know retail has so much data behind it usually they know like oh x percentage of these commercial strip malls will be open at any point time so if we do a contract with halloween express this year there's likely gonna be one location that's open and then the wild part about spirit and halloween express i always get the too confused but they have the same model which is like every store is ten thousand square feet so they'll have a target which is i don't know what sixty a hundred thousand square feet but they only take up ten thousand square feet inside of the store and if you've ever been in and one they kinda throw up these real it's like grapes basically and you know racks for clothing that you could buy online because they're trying to standardize the the the rollout of the store quickly and cheaply exactly exactly it's like it's like the ikea furniture of stores you know it's like every single time we put it in the box you have the list of things that you need and it's up and in well we talk to a contractor who could do the build out for us and he said that those things go up in a matter of sometimes days which she said it'd be aggressive but like two weeks he's like two weeks you can have an entire halloween express app which is wild because a normal store is months if not a year to throw so anyway we tried to buy this one kind of for shits and giggles because i thought we could make cool content around it and then maybe we could try to sell it and i wanted to understand the business model and then somebody else spot it out from under us basically but that's when i went down to this deep rabbit hole of all my dad the average commercial let's call it retail store costs millions to throw up and takes months and spirit or halloween express costs maybe ten to fifty thousand dollars to throw up and is up in days or weeks so just like speed execution has to make this a much more interesting business model so how much would a business like that make let's say you buy one of these businesses and this was you said three locations for six hundred k plus the inventory so you're right like that's a lot the what would you what do you what would one of those locations net do you think at the end of said well yeah i think they said that it was somewhere around a million dollars so three locations inside of they're open for two months a year they would bring in a million dollars i think it was like nine fifty or something like that revenue though right that's revenue that's right now the margins on those businesses that they claim towards thirty to forty five percent that seems way too high for me i'm guessing the margins on it are like typical ten to twenty percent margin on that kind of business which means if i bought it i guess it depends on how much inventory was in there we never got to go deep on the due diligence side but depending on how much inventories in there if we did this type of business you could be basically be in the clear inside of two or three years you could be in the black and so that's kind of a let's do those numbers so you said a million dollars for one location revenue a million dollars for this whole business so that three locations mh cool so a million dollars and then you're saying maybe let's just split the difference there sixty percent net mh so two hundred k and you're saying that they you're buying it for six hundred k including the inventory so you're saying couple years and you're you are you're you're broke you've broken even on your investment you've you've returned your capital but what you're saying is that these things that like so just run these things you have to buy new inventory every year so you'd have to inject how much working capital you think to to do a million dollars of sales maybe like a hundred fifty k or two hundred k well the so the interesting part to me about halloween is theoretically a lot of the inventory is the same so they said that they have about ten to fifteen percent of the inventories like the new concept so like the the the euphoria outfit sure for instance as opposed to the witches the lions the wardrobes whatever people do each year and so yeah if we think that the inventory for that place was probably you know two hundred thousand two hundred and fifty thousand dollars in inventory that they had you know yeah probably a year you're paying like fifty to a hundred thousand dollars and like the net new inventory then you can roll some over but yeah i don't i mean the problem is i didn't get to actually do it so i don't know the true numbers but that seems that seems reasonable yeah yeah okay alright fair enough okay so halloween store interesting you have a couple of other ones on here that i just don't know anything about but i wanna hear what you have to say do you wrote the words fantasy werewolf romance novel what you're talking about yeah so we have a we have a group where we all buy businesses together and this one lady comes on and she's like i bought a romance novel book company so they write them they distribute them and they market them sort of three three levels to the business i was like that's fascinating and she started explaining some of the titles and then she's kind of a funny character and so she was like the thing is roman romance were huge category like biggest growing category and i was like okay talk to me about that and she basically said of all the titles that she has i can't remember how many shout but let's say like twenty five thirty titles that she bought the out selling ones the eighty twenty rule for her twenty five to thirty book business were this fantasy romance category and then because i'm a woman and i also read books i was like let's log in by thing like do i ever read this category and it turns out i'm a fantasy reader and some of them have wear in them so i was like that this is weird am i weird is she weird as this category and then i went and and researched it and i think you guys have covered this before but there's like one point three billion dollars are sold of romance books a year and and it's huge it's like almost in some cases you know a quarter a half of the entire industry but the part that that got me the most was realizing romance is growing hugely but it's with like we're the target audience my age so like somewhere in the realm of eighteen to let's call it forty five which used to be like the long haired fab romance models that used to be the deal and i guess now this fantasy level is taking over it was interesting as you can kinda tell because if you look up the best selling books of all time harry potter five hundred mel twilight one sixty fifty shades one fifty there there's like kind of morph together and so i'm curious to see what happens next but i kinda like this industry i can't really see you riding a werewolf fantasy all sean but maybe maybe as a stunt you know the sam wrote romance novel once you you know that's where oh i forgot about that he or did he write it or did he they goes right they like ghost road it so basically same sort of observation he's like you know when people are like oh amazon best seller and then it's like everybody and their mom is amazon best sellers like what does this word mean actually you know it's like in the bottom of the power rankings of meaningful titles it's like forbes thirty into thirty and even below that is amazon best seller because it's it mean it's nothing and so what you found was a to be a best seller you basically pick some niche category and then for a day you know you sell you know thousand copies or something like that at ninety nine cents and you've become a best sell you screenshot that you're you're best sell you get the flag some version of that so it's like it's a very like ga amplified thing you there's all these subs categories so you're you're trying to just get so the number one inside health health and wellness inside by a new emerging author or whatever you know like there's always these like subcategories so he found somebody who had done this so they were they're were baking good money like tens of thousands a month i think selling romance novels on amazon on just ebooks and so he commissioned somebody to write one or you wrote like a couple and it was like boston it was like boss and a secretary and then another one was like you a werewolf a wolf of something and he commission somebody to write it and then they wrote it anything they did it they hit the amazon best seller it's out there somewhere you could find this now oh does he still make money on that no no not anymore i think they took it down that's incredible well i mean honestly if you go and you the by the way the blog post called confessions from the scam underground world of kindle books and so his book was called un untapped billionaire un dressed virgin jesus just have sometimes that guy that's incredible that is incredible he has way better historical business shenanigans he's done than me oh wait sorry sorry i got gotta kinda clear the clear the record that wasn't his that was the name of somebody else his was called captivating claire and the cover is this really ripped black guy and then this secretary and it says a first time billionaire romance okay there we go like that's slightly better i like the other story better i think we should cut this part and just tell everybody the other one was his name i think i think that's the move but you know what's fascinated it is when you go to like so if you go to your bookstore and you look up top charts free i mean this category is everywhere and then to your the point that i thought was interesting is the move i didn't realize the the amazon best seller thing that's why they put it up for ninety nine cents the reason that i thought and this lady was telling me is you put one up for ninety nine cents or free you get it on the top free list and then you hammer these things out so you have four hundred and seventy two versions of fab the fantastic werewolf and the the likelihood that people are gonna buy all of those in the series is apparently incredibly high and so i thought that was fascinating and a lot of these authors like if you look at them they have fifty books out which must mean somebody's ghost right in from them so i don't think you could do it any other way yeah or like chad gb by the way you know the story of fifty shades of gray not like the story but like the backstory how it came to be u oh this is crazy so i don't know if you've ever seen the called the big fan fiction site watt pad it just sold is like a canadian company so what happened is twilight comes out it's a vampire story it's great and then somebody goes on watt pad and writes a fan fiction version of twilight basically and that was the early the v one of fifty shades of gray people liked it and it became and then somebody picked it up and it they re kinda of rebranded it as its own thing instead of as twilight fan fiction as its own brand and it became like you know whatever the third or fifth or whatever best selling book of all time started as a fan fiction blog on a on on watt pad i think well it it makes sense actually because it's all just sort of copy and saw what you know joseph campbell talks about the hero's journey right and everybody basically uses that uses that from a bible to star wars to you know twilight etcetera i mean the other thing that i remember so i actually went to to a high school that was right next to and so we were close with the high school of the the woman who won't wrote twilight stephanie and i remember when it was going wild that wasn't my category and so i like reached out to her and i was like hey like congratulations on your first book i was so excited for you you know i just wanted to let you know like i bought a few books for you well you know to help out and then retro retrospect and then i like looked at her say i was like oh cool cool anyway go does respond no i don't know i don't think she did but we don't want stephanie i was i was here for you from the beginning yeah actually not from the beginning though that's the bad part is it was already successful that's really good okay so let's let's do one more that's in this you the segment that you called gets in this bitch have we got enough effort i don't know gotta get one more idea in here you go pick how about the one that i think could be a billion dollar business but i don't have the house so the m listeners in ours are super smart maybe you guys can figure out the how you know lots of our friends and i don't know if you experience any of this sean but getting pregnant these days is like hard you know when we were young i remember it was like yeah if you look at that guy's sideways like pregnant you know shake hands pregnant everybody's pregnant right and then as you get older apparently it's like now impossible and i've experienced this firsthand it's like expensive you know you go to the doctors and then you have these different apps and then you're tracking for it or seventy two different things and the whole experience is like awful and expensive and so i think there's a huge opportunity to do something in it because once that little box gets checked like a woman is ready to have a baby or whatever like i don't know we turn into crazy people we'll do whatever it takes you know you guys have sam was telling me some crazy stuff he was selling sarah i'm like i don't think that's true about how to get pregnant and anyway so for instance there's this company called mirror and it has this little like egg shaped tester and this is like a little t but like you piano and it tells you how fertile you are whatever and the john i kid you not when i open the app but i'm on a total idiot like i can't tell what i'm tracking and i can't tell what's happening here there are no notifications there are no notifications in it and they charge you it's like fifty dollars for the the sticks that they send you and then it's like somebody should check my math on this i'm i'm definitely wrong on the number but it's like a hundred and fifty to two hundred bucks for this tiny little plastic egg that has to be created in in china and and that's it and i never saw an ad for this it's all like word mouth referral so i don't know what crazy ideas you have but i feel like the people from m msn all this k let's let's brainstorm some on the fly here so first of all when you started saying there was like this little egg shape thing i thought where you were going was like you said like a sort of a smart device but so you you pee on the stick it tells you kinda where you're at in your cycle but how cool would that be as a little bedside replacement to your alarm clock when it glows hey it's time it's time to get busy and you you can see close normal light so that's a little more tasteful than these apps that are like you're you know you're your es g levels are spiking right now or whatever it's like it's like let's just let's just add a little bit of romance so this process that becomes very very clinical and so i'm thinking bedside egg bedside replacement to the alarm clock okay that's idea number one idea number two have ever heard a flow app yes it's i think it's the it's flow dot health it's the most popular pregnancy period tracking app in the world like their website gets like eight million unique a month or something like that crazy last i had heard they were doing something like thirty million ish in in arr which is pretty bonkers for a mobile app and way more than you would think a niche mobile app like this would do that was like five years ago that i that number i would not be surprised if flow was doing you know like a hundred million i'm just gonna search the revenue see it if it's out now yeah and how much they're worse because i couldn't also figure out the valuation on these companies like mirrors gotta be because can you imagine you get me at a point where you're gonna know the second that a woman is pregnant which is the highest likelihood of purchasing intent you could have right and like what would that data be worse and then also you could sell the data to every medical provider imaginable and have add ons and affiliate deals for x supplement x right thing you gotta drink or whatever yeah i i i i agree with you it's extremely valuable sort of stage that's a that's a time down stage where you're you're gonna be become i'm pretty price insensitive as you've as you've noticed so yeah flow over over three three hundred million people have downloaded the app revenue is over a hundred million for this app it's a billion dollar app that started off as a period tracking tracker app it started off as like such a simple little mobile app at the time so so yeah props these guys i think they're in europe that built this thing so i think the mobile app space is it was obviously you know kind of like one winner in this other ideas that i think are interesting so somebody said this to me the other day and i know nothing about this i had put it on my list of like two research but i haven't gotten around to it so i'll just say the the one percent of the idea that i have ready which is she goes somebody side me she goes do you know how hard it is for gay couple to adopt a baby as a sure don't i have no idea how hard is is it very hard she's like nearly impossible and as she goes if you if anybody created a company that just helped gay male gay couples adopt babies you know because they're usually that's like a very rich segment is like gay mail couples it's like one of the highest like sort of average like household incomes obviously super high need or like no price sensitivity when it comes time and convoluted low n ups process and so i think if somebody just went interviewed like a hundred couples that we're trying to adopt right now i bet you could find some i bet you could find a five hundred million dollar to a billion dollar business out of a hundred interviews of those couples and i don't know what that idea is yet but i that's enough of a map for somebody to go you know find their own immunity idle to use my survivor references it's a good point i mean it's sort of i've been messing around lately thinking about levels to the game of business like how it like would be interesting to categorize all businesses as what level on a let's call it just a multiple and margin level if you just say like what multiple could you get before this business and how high of margins do you get for this business and maybe like how reasonable would it be for you get to don't know ten million or a hundred million whatever your goal post would be and i think like a level one business i a lower to your business that would be probably profitable on like day one to thirty would be helping just on the consulting aspect of that because you're right i have a friend that paid twenty five thousand dollars for help navigating the adoption process in texas and they i shouldn't figure out what the name of the the thing is that they asked for but they paid a huge chunk of money just to help them figure out how to get higher on the lists right for adoption in texas so if that exists there's gotta be thirty two different ways to do consulting for adoption in this space yeah yeah but basically anybody who's like clear like in the airports but for all life processes not just lines airport so it's like somebody doing this right now i saw for h one b visas they're like again like if you're an immigrant in the united states applying for visa is literally like one of the like two things that keeps you up at night and so there's people that are like we're just h one b like concierge like we know this process inside out you don't you're just sitting here googling reading forums we know how to expedite some timelines we know where you should pay money we know where you shouldn't worry because it's just this is normal this is part of the standard delay we know when you put it it put together your application like how to which order to staple it together so that you have the best chance of success and i find that like for these really complex workflows that are high ticket and high desire like adopting a child like getting your visa people are willing to pay you know whatever ten grand twenty grand in order to do it obviously it's you know the richer segment there but but that that's and you so you could go buy the lead for this you know you could advertise and get the lead for this you know through google for maybe two grand a lead but you're making twenty gram per person off that that comes out of that funnel that's smart well even we invested you invested in home health too right yeah i invested in them also and part of the the stuff that i think is really smart with what they're doing is just it's such a pain to get access to those type of you know t and and different things that men want and do it in a legal way and really be able to trust what you're getting and so there's probably a bunch of that inside the the women's space too home i keep telling them they should launch something for women because i think it's a really underserved market and if you think about it you know men sort of dominate most of the dieting trends in general so you had like tim ferris normalized keto and so i tried keto for a while and then i went to i now have a doctor gabriel lyon who's a stud and she's like the thing is that doesn't work as well for a women and i'm like no i read the book i'm a huge ferris fan and it just turns out a lot of that stuff males men and women are biologically different and so yeah i think there's lots of cool ways to play in that space also like with stuff like peptides although those are getting federally banned so maybe not the best idea right now peptides are getting federally banned yeah we should check my homework on that but that's the word from the husband is is that like epic a peptide well my understanding is most of the reason why peptides are getting banned is because they are hard to patent and so because of that there's you know conspiracy theorists like big pharma doesn't like that and so they're getting a lot of pushback but my husband's like number one advocate thinks everybody should be off time she should do research on it yes so sema which is oz or we go that's the generic name semi is a peptide but yeah the i don't think that can get banned i think people will ride in the street right now if oz got banned you also just will close out this section you wrote life slash partner hack from from woman to a man from a woman to a man dot dot what what's your what's your hack yeah well this husband yeah his his hack is that the best money he's ever spent on being in a marriage is a subscription to flowers on a monthly basis for your wife and i totally stand by this because it's cheap there's this one i would use called far farm girl flowers i don't have any affiliation i'm not an investor but it's like beautifully little bur lap tide bow etcetera and and comes every single month you don't have to think about it you get auto gifts for your wife and i'm pretty sure i'll i'll take any i'll take almost any guarantee that there will never be a wife that would be mad if they got this on a consistent basis we but husbands are just not gonna remember consistently so like do yourself a all and just you know buy some flowers on a consistent basis okay this is interesting to me so first of all what's the deal with flowers why do girls of flower so much is there does it do something for you is it just like a mood brighten when you see it in the room what is the actual appeal because if i see flowers nothing needle doesn't move doesn't do it inside like a candle like if i smell a candle i'm in you know if i don't know if we buy like a nice little piece of art i like it i see it if it does something for me flowers i just don't get it what is the why what is the is it the flowers or is it this man loves me is that what it is it's just like reassurance it's definitely not the love part flowers actually the flowers it's that could be balls no i think when you're in a relationship yeah it's lovely you're just like oh you know it's such a low if you think about high roi low ash number one winner like number one winner but i i think it's actually just we like plants of flowers i don't know if that's a pre you know genetic disposition or right if you know society's patriarchy is a bonus us but like women like flowers and so i don't know what the thing is but also the fact that like i remember when i was younger sean like i don't i can't remember if you've ever said one on here but when i was young and i had no money there was very low hanging in fruit things for what a rich person would have and one of them was like one day i'll have fresh flowers in my house every single day and that'll me mean i'm super rich and oh okay so i think there's a part of it that's also just like this is such a moment right and this is just for me i can't speak to anybody else but now when i see them i'm like oh means we're doing okay you and even if it's on a subscription and you know he didn't think so he thought about it once three years ago it doesn't matter you didn't know love it okay okay i'm gonna report back i'm gonna try this report that report back don't tell her i don't care and i just set it up on subscription three years ago no no qualifier okay well you no guarantees with me alright so let's go to the the small business acquisition stuff so yeah first explain your business model so you got a media business which is you create content and your your output is insane like i put you pump and saw hill i feel like are so consistent and so omni present everywhere and so consistent with your message it is unbelievable to me i can't i i can't imagine myself even doing that even though i call myself a content creator in comparison to you guys i'm nothing i'm just a guy you know who talks to his friend sam twice a week so like the way you guys do is crazy that's a media business that can be profitable on its own people maybe advertise subscribe i think you have like a paid community or something like that that people pay for yep i think that's pretty lucrative right like that's a big money maker for you yeah well a couple different things one thing that's interesting are those three people you picked what's the common denominator between all three of us we were all in finance which is categorically a fucking miserable industry in to be end for the most part and we all i think all of us did private equity or investment banking which means that we had crazy crazy hours for a long time right and so anytime like somebody talks to me like i was kinda gay going when the creators like i'm burnt out i'm like from film tiktok like for a couple hours right i think we're fine that tweet fatigue you yeah it's totally we're gonna be okay and so i think probably we're good at output because anything that can be like mechanized system and replicated consistently finance people are usually pretty good so you you have the content business and yep then you have your buying businesses stuff is there a third part of what you do like just passive investing or anything like that or are those the two pieces if you do well i guess we have sort of three different businesses now so one is the content business which is the one that's super public and we kinda stumbled into that it's what i think only two years ago so that would be like the latter part of twenty twenty is when we started creating a business around content and i was in private equity at the time when i started that and then that today is comprised of like newsletter we have a community we have a bunch of different media channels and now i guess a couple newsletters we have a course on buy businesses and we do a little bit of ad sponsorship stuff i don't i don't really love that i think we're gonna change the model to only talk about the products of the businesses we own and our own products so i'm kinda messing around with that looking at like how the daily wired does it for instance and then the second business we have is what was the family office what's now main street holding company and that is like the small businesses that i talk about so we've owned everything from podcast production businesses to graphic design agencies to laundromat mats to car washes to the own money this is you raised money what happens my own money so it's your own money you're using to buy these and so that's a portfolio and you said there's three businesses what's a third and the third is we have a venture capital fund and then we also have i guess you know alongside that my own passive angel investments or whatever and so those would be like hone health we did in the venture fund we invested in andrew wilkinson media companies that was just a personal investment that i did it didn't go into the into the vc company so that's where like our minority investments go okay and when did you get rich was it after all this were you reached before you started all this what was the like where was your kinda like like okay the podcast called my first moment when did you make your first mail was it in the private equity investment banking world or was it after that when you went on your own no i made my first million when i was working for other people i'm like the opposite of view i'm not really as i was risk scares me actually so like i could have never gone and done what like sean and sam did which is start a business like sam did have no money sleep on a couch like cor and then like hope that business turns in a hundred and sixty million that like scares me too much i'm a was and so i worked in corporate for a long long long time i ran a bunch of the businesses i became a partner in them and so i made millions before i ever really ran my own thing by myself and i was actually so scared to leave the big corporate i don't know canopy that i bought businesses wow i was still working for somebody else you say you bought businesses these are like the like i bought a car wash laundromat type of thing or you what what type of businesses you're buying yeah why i bought i'm some back in the day that i bought but they didn't make me any money it was like i bought a website i bought a fashion styling marketplace those threads refined back in the day i bought another one called south but the ones that started making me real money were the boring ones like i tried the sexy things websites and i wasn't very good at them and then it was oh wait if i buy a laundromat i i have a hard time fucking this thing up like i can make some money on that and i can have somebody else run it and if i pay that somebody else and then we have three or four or five of them that's enough money for them to make a good look in me to make a good living and then maybe we could do that exact same thing in a bunch of different sectors and i just back then when i was doing that that was not cool now i feel like it's kinda cool the holding company thing is cool on twitter right in fact i didn't tell anybody that i own laundromat one i thought i get fired because it's could be considered a conflict of interest so i was concerned about that and then secondly i didn't think it was that cool you know at the time i was like running the latin american investment business and so we had a billion dollars in assets under management i built the thing from zero for this company called first trust and everybody thought that job was really cool including my parents they're like super proud but i hated it was going through divorce and was working like seventy hours a week and on red eyes to chile basically weekly and so i bought the businesses to get the fuck out of corporate and then when i finally replaced my income is when i thought oh well i'm gonna take a jump and become a partner a private equity fund and then finally i got the balls to go do it all by myself but it took me a long time to get there yeah that sk got their their path i i always joke like you hear these stories like oh mark cuban when he was six years old started a newspaper route then lemonade stand and then hired his friends i'm like dude i don't even know the word business till i was nineteen you know you definitely don't need to you know you everybody's got a different starting point so that's for sure so you let's talk about the laundromat thing i've told the story on the pod before but i was that a dinner once with this guy who was a ceo of a public company and he was like he he was like fast he's like you know you know people are like really busy they don't use social media so he's like he's trying to relate to me so he's like oh you do podcast podcasts what's what's the name i mean i he doesn't even know where the podcast app is because he's like does real work for a living and so he's like he's like i'll definitely can you show me how how do you subscribe to a podcast i always wanted to know and i'm like wow this guy's like you know just gonna going and one the things he says he's like he's like you know i see these people on instagram talking about laundromat mats and he's like are we all just fucking stupid and we should just be buying laundromat bets or are they stupid and they they think laundromat bets are great business like it's who's stupid he's like i'm worried i'm stupid and then i shouldn't be doing all this like stressful work running this like company with thousands of employees do i just need to go buy four laundromat mats and chill like is that actually the answer and so he was laughing about it and he's like it can't be that accurate good and i was like dude i honestly don't know what to say i've never bought one of these born businesses don't intend to own a a laundromat an albuquerque or whatever like that's not my my jam but it is for some people and you obviously and have advocate for it so this is your opportunity so so it educate me drop some knowledge on me okay what is this deal with buying you can pick either actually just do laundromat not call wash because i i actually know the car wash is a little bit but let's do laundromat but yeah i call these gateway drug businesses so basically no if you're a billionaire you shouldn't go by laundromat is a terrible idea the reason i talk about it is because i have a belief that i think a lot of people don't have that almost anybody could have a business that they currently work as a job let's say and have some ownership in that business and in fact the world would be a lot better off if we all had a little bit of skin in the game that's like my little hill that i wanna die on and and so when i first started talking about this i was like the thing is i've been in finance like i went through all the levels and we will everybody else to think that we're smarter than them wouldn't wear a finance and we're actually not because the worst part about running a laundromat is not reading the p and l the worst part about running the laundromat is like the machine breaks what do you do there's a homeless person there like how do you handle that somebody breaks in into to your laundromat and breaks the glass door and like on nor any human could handle that and so i talked about laundromat maths one because that is one of the first businesses i bought so it's just was you know rec bias and then two because i think if you can't understand taking a coin putting in a machine getting out clean clothes or dry clothes from it and running that business model you probably shouldn't run a business that's like a very simplistic business model but this is why i've been ob obsessed on levels of the game the problem with laundromat mats are there are terrible business if you're really good at business so like if you're good at business the the laundromat i invested in one laundromat matt it wasn't one that i owned complete control of that did three million dollars a year that's the biggest laundromat app that i've ever seen individually that's revenue what is that that's revenue so three million dollars a year okay let's get up my kat so this is is it like one of these like jumbo like like i've seen some of these laundromat mats that look like full on shops or something like that they're like here yeah it's a very big laundromat at so it's doing like eight grand a day yeah they do fifteen percent margins and the way they do them is actually through the wash and fold business not the walk in laundry business okay gotcha and so the real business where the higher level customers are and where you make more money is you know single mom wants to put her bag of of clothes outside of her door you pick it up you wash it you drop it back off it requires cars and logistics and some oversight it's more complex the average laundromat makes somewhere around a hundred to five hundred thousand dollars a year like that's what laundromat map makes at fifteen to ten to fifteen percent margins and there's like not that much you could do once you have a laundromat to get a lot to get a laundromat map that's doing a hundred thousand to five hundred thousand it's really hard this location to come in or what what's the bottleneck there yeah your location dependent also just demographics of of your you know segment so if you're in a a poor neighborhood wash fold might not be as much of a driver right for you if you're on a higher end neighborhood it could be competition so those are baking you know between you know twenty and fifty thousand dollars a year for the owner yep that's right so you got like you know you have to do multiple of these otherwise if you own one you're working the job of an owner but making the wage of a you know minimum wage employee or something so so you wanna own multiple that would be the the play here well i think it depends this is where i think business acquisition gets interesting it's like who are you and what do you want everybody always asked me like what's the sector to buy and i'm like that's a dumb question the best sector to buy is like the one that's uniquely aligned to you but what what was it for you what was it for you the reason i bought the laundromat is because i had been an operator that already knew how to run laundromat mats and had found one that we could buy for very cheap and i was like i don't like a lot of risk i could i could front a hard k okay buy this and then if we run that and that works let's get three to five of them and get rolling but like a lot of people that i talk to you know maybe you're a teacher and you have six months off in the air and then why wouldn't you own a little laundromat and then i like to compare it versus houses or like short term rentals so if the average short term rentals we should check my numbers but does somewhere like a hundred and twenty a hundred and sixty dollars in net income a month and you put up two hundred and fifty thousand dollars on average for one of those holes so like compare a single family home for two hundred fifty k versus a laundromat for a hundred k and this one's making you thirty fifty thousand dollars a year and i'm sorry twenty to forty thousand dollars year and this one's making you a couple thousand dollars a year that's actually kind of a good that's a better risk reward trade off and so i think it just depends and then the other thing i think is you start with one business and not a lot of not a lot of americans are probably like your listeners a lot of americans like haven't run a big business before wouldn't know what to do with the tech business and so them starting with something pretty simple in their local community and then they like go okay i know how to run this i made twenty to fifty k on it i didn't risk my house by buying too big of a business or starting too big of a business now i go and sell this to somebody else and do a bigger end endeavor at least that's how i think about it so you're the first business you bought were was a laundromat or was it something else my very first business was a website back you so you bought the websites up then you went brick and mortar after that the app brick and mortar laundromat was my first brick and mortar business what what'd did you do after that after that we bought a couple of them so we bought multiple laundromat mats and then we kept buying laundromat mats how many laundromat mats did you buy in total i probably owned like twenty five or thirty laundromat mats over my career of laundromat cabin but that first little portfolio is probably seven or eight okay and i was working full time at the time i at a company called first trust then mostly in latin america so i couldn't do too much with it back then and give me the best deal you ever did and the worst deal you ever did the best let's see the worst deal i did we had one business entirely go under so we invested in a business where we got lied to stolen from that was a small business that supported other small businesses from a tax and accounting perspective so they didn't do the taxes but they did bookmark bookkeeping and kind of funny that they would be the ones to do the stealing right but that's the biggest issue in buying small businesses and i think i lost i probably lost a couple hundred k on that deal and the biggest issue with buying and small businesses is that you run out of cash because they either lied to you about the business that you bought and how much money has in it or they lied by mission they didn't quite realize you know that they needed to share this with you or they didn't actually track their finances very well and so you ended up buying something you didn't want so that that one i got stolen from but a lot of times the small businesses do not actually have the finances that i that i think they do what about the best deal yeah the best deal that i've ever did was probably mostly from the land acquisition so we basically bought the big plot of land that had an rv park on it also like a series of vending machines also like a little area for people to to camp and you know go into nature or whatever and that business the appreciation land ended up being what what paid the most for it so that business made us a few million bucks which is kinda cool and we definitely didn't put that in right and maybe the other business but i think will be my best deal ever is a series of car washes we bought because ever since this company called mister car wash went public the tune of billions of billions of dollars multiples went up oh fuck i mean we've got offers that are just wild on these so i i don't wanna i wanna knock on wood that that one actually goes through but we sold out of a bunch of our laundromat mats i create multiples and i think we'll sell a lot of our car washes i i really really good multiples but i don't always talk about my best deals because it's like i don't think you should get into these with an idea that you're gonna have some crazy exit like you're gonna cash flow that's the goal you cash flow and if you wanna have a crazy multiple exit buying these tiny businesses unless you scale them up in a big way is probably not gonna be the way to do it and mean and ben we're debating the of the day we were talking about like what's a good on the finance side what's a good north star goal and we were saying we just threw we threw out a bunch of ideas two of the ideas were should we build up ten million dollars a year of annual cash flow as the goal out of this whole coat or should we just try to build a hundred million dollar portfolio value that's realized realized portfolio value in roughly you know the same amount of time and of course like if you have ten million dollars of cash flow you could probably sell it for a hundred million dollars it's not like these were totally different but you would baby buy different things because if you're just trying to get to a hundred you might not buy things you can buy things that don't cash flow you could just start a business if it doesn't yeah that's not not about cash flow but if you need cash flow you have to go a certain route i'm curious two things a what would be your opinion on that and b what's the goal for you what do you what do you said as your kinda of north star or your summit that you're trying to trying to climb up to yeah well what what do you mean by my realized value you mean you actually wanna sell it and then get a hundred million from it where you want a third party to mark it up and say that it is worth a hundred million dollars the way i thought about it there was that it's sold or sell a in a kind of more bulletproof way versus like one business that on paper got marked up by one investor but you know not really liquid it's not a profitable business so you know you could actually exit for that amount which is often like the silicon valley how do you get a hundred million dollar valuation but you could never sell that business for a hundred million dollars type of thing so not that not the paper valuation but either it's exited or you know if you ran a process for for sixty to ninety days with eighty percent certainty you could get that value yeah well for me i have an issue which is that i'm pretty adhd i like to do a lot of different things like if you look at my work history i think the longest i ever stated it a job is like five and a half years or something like that and i was moving from different investment firms every two years or so so i kind of like the portfolio approach because it allows me to be adhd in a bunch of different businesses and so i get like pop in and pop out theoretically if i wanted to build a billion dollar business you could argue that if i have a great idea that i really really love that would be a better way to get to a billion dollars and i just haven't had an idea that i was that obsessed with and thought it was fun that i still need to do because i you know i'm pretty comfortable i have i have enough cash to do sort of what i want now so i think our goal has always been i kind of buy my own bullshit which is for a long time i thought i was gonna just build a bunch of boring businesses into my little tiny version of k or berkshire hathaway and i was gonna build up this this thing and then you know i did that for like fifteen years working for other people and then i did it for a couple more years by myself and i got to this point where i was like i actually do not think it is good for the really really few people to own everything i think it is much better experiential and just for society when you go to a local coffee shop than when you go to starbucks nightmare am i refuse to go to starbucks we have like a company policy you're not allowed to to buy for a big corporate chance and so i kinda thought man if i go and build this thing but i what happens if someone does walk in with the stuff what do did you just hit it out of their hands just smack that shit onto the slot actually tanner is here right that does that he walked in my place in california we lived there for some of the year with two starbucks and i just looked at him i was like what are we doing here and he was like and then the next week because i have a good team i ordered chipotle on accident and so then i had to then i had to pay for my own chipotle the f word what this like i yeah i don't know i think once you start making enough of money like at some point you're like i want my money to mean something and i want all this work to mean something and so i was like i don't wanna own a billion dollar portfolio of small businesses and become everything that i talk shit about that does that doesn't feel that great and instead what we'll do is we're starting to buy a lot more businesses in the three cities that i'm really involved in which is san diego austin and phoenix and so i wanna own where i live that seems to make sense to me and feel good but then i cash flow off that and the second thing i wanna do is i'm gonna go really aggressively all in on i'll ask you and sam about it later if if you what you guys think but we're gonna plow a couple million bucks and we're gonna raise a couple million bucks on one bet which i've never done before i've never raised for any of my i've raised for some of my funds obviously but never for a single company so i'm sort of nervous but i think we have an opportunity i'd like to start or to buy i bought the company already as an mvp and then i'm gonna build something on top of and i'm gonna put in a new ceo and i'm working right now and recruiting that ceo for this this business and i'm guessing can't talk about that right now not yet i mean not that anybody really cares on the internet but you guys you guys i'm em are doers so i feel like if i deal there'll be thirty seven copycat cats i'm on that hell yeah there will be that's what we do we we destroy all the margins for all of us collectively we destroy alpha left and right alright so you so that's the game you're playing you're wait so sorry you told me the game you're not playing you're not playing the private equity build the next k game you're building the own businesses where i live i got that part of it but that doesn't seem like complete what's the rest of the game and how does like well we have a portfolio that you could i mean it depends how you value it but yeah let's say it's a it's worth about seventy five to a hundred million dollars in and a lot of value right now a lot of car that's a lot lot of so baby and then so we have that and that's cool really cool young cody would be like that's fucking wild the next game we're gonna play is a really big single bet and so we'll have those two things why why not just retire and be rad and pumpkins and live left love dude honestly i bought those pumpkins and i was painting them and it brought no joy whatsoever whatever it probably sear joy and i remember i called my husband it afterwards and i was like i feel nothing and i must be dead inside and so i have to buy this pumpkin company for this to have been worth it as a hobby yeah exactly it's like something's wrong with me i also think you do like do you have hobbies shop yeah i got hobbies i i i got hobbies i love to play basketball but my hobbies are do there are things that fall into like really specific categories so not i i don't have niche hobbies like some people are like oh love you know studying duck calls and i have all these little duck ka zoos or whatever the hell mine are not niche like that they're very common things i like my poker i like basketball i like working out i like you like i like shit that everybody likes right i'm like the basic bitch of like hobbies however i like to do them in a certain way that makes them more fun to me so for example poker i got a lot of joy building a home gym and having a trainer who's like my boy who comes over and we work out here and then friends who we meet will come drop in for workouts with us and so i get like hang out with my friends when i do that so i tried to build a lifestyle around it or like basketball instead of just going to play and pick a basketball twenty four five hour fitness we do this thing called camp m mfa where we rent a house rent a gym fly in you know a bunch of awesome founders or kind of like celebrity people who love to play basketball and an nba trainer and we spend the weekend pretend nba players right like we cosplay and so i will try to take the hobbies basic hobbies but do them the common hobbies in an uncommon way is what's done it for me as far as being being a fun thing to invest in i like that well yeah i need to i need hobbies basically i have none i like to work out like to hang out was like friends that like literally have the most boring hobbies imaginable i really actually like working a lot which is probably pretty sick but my husband is like captain hobby he's so right good he's like a fucking black belt and you to are a put purple belt or something and he's you know former eighty seals so he's amazing at shooting him and sam are always hop and i'm not i'm sam hangs out with him because sam wants to always be able to eat kill everybody in the room or whatever he always says and your husband would eat him as an appetizer he's sam is tapas for him like this is nothing so i'm was surprised that sam allows himself to be in the same room sam does try to fight him a lot which is like a very sam is like a son to his dad oh let's fight and then the dad like okay sure let's play wrestle so yeah i'm gonna tell you what the tip for hobbies yeah tell me you wanna get hobbies there's two things that will force any person like us to get hobbies the first hang out with people that are completely post economic so people who are literally wealthier than wealthy because when you go to dinner with them they don't wanna talk about business deals they're like completely not that they're over they're still in the game of business it's just not interesting to them it's not what makes for a new conversation or it's not like it's no longer part of the status game because they're all they're also only with other people who are all very successful and so the status game then becomes oh my burning man camp was like this and oh my new hobby is to do this and oh i'm doing this crazy health kick where i'm like you know taking blood from my feet and putting it into my arms it's crazy it's like the you gotta do the crazy thing outside of business because you've already like hit the ceiling on business craziness like you know the only one they wanna talk you about business craziness is like what is elon doing or whatever like that is genuinely like gets the pulse going for them on the business side whereas most things don't so that's one way because i've remember sitting at many dinners and feeling completely generic where the things i'm interested in the things that my brain has been working on to them are like yeah we know like we've yeah we've been doing that for twenty years now like that's not something to talk about right it's like you're talking about like twitter ad for my newsletter yeah exactly i'm like the i got the cp down and they're like wow like i remember used to care about those things so so that's one way to do it and the other is to go to a place where like up with like like artist or hollywood people they're they're here with like actual artists for whom like the art is the goal and not the recognition from the go from the art all they wanna do like you tell them what you're making and they're like oh that's cool like do you think that's cool and you're like no it's just fucking cringe and they're like so why are you doing it and like because it leads to outcomes and then they're like you know like you're like a it's like you value things so differently than an artist so if two ways if you wanna like round yourself out is commercial stuff though and then the embarrassment will fuel you to find something that is a non it's not about the non hobby yeah the thing that i have found about that is i don't actually care that much what people think and i find that hanging out a lot of really really rich people like you and i both have i think a bunch of mutual friends that are super rich i'm like i don't care about your poly a burning man like good for dude i'm so excited that you are such a nerd in high school that now we're compensating for it with lots of free sex i think you should go wild but i don't think it's that fucking cool actually so maybe i do maybe have one hobby which is that i i really find like the political movements in the country interesting not like republican democrat but maybe that's my that's my toxic trait hobby that's your roman empire yeah yeah like i think we're part of this think tank called ai and those people fa me like have you ever been around big thinkers that like you know like arthur or brooks do you know who that is you guys should get him on here i wonder if he like him i none of the words you just said the last minute or even mean anything to me you said political movements that are not different democratic republican i'm like what the hell she talking about then the second thing you said is a part of a think tank what what tank and then you said ai of like that's a rest sling league i think and then you just mentioned arthur brooks who i think might own the falcon but i'm pretty sure that's not him so can you go in reverse order what are political parties not the democrats and republicans so american enterprise institute has this one idea which is that all ideas should be in a competition there should be a competition for the best ideas and the best ideas should win in order to determine how we rule our lives what are our regulations and so they're bipartisan there's democrats and republicans in and and i'm part of a a group that donate every year and we go to a couple events for them and so that might be a hobby of mine i suppose something like u ubi or something is that what you mean like is that the you're like like they'll have dick cheney and michelle obama on a stage together and they'll be like ready go you know and they'll kinda compete their ideas and and it's closed doors and you can't video it and you can't talk about the specific things that we're talked about inside of there so it allows these politicians to be perhaps more realistic than they would be on the news sites so i i find that to be really interesting cool yeah i think you guys would like it and then there's guy arthur brooks who would be incredible he used to run ai and was fascinated because he actually was like good friends with the dolly lam which that's that's impressive but then simultaneously was able to pull together more funding like i think he raised tens and tens or hundreds of millions of dollars for ai and really change regulation on both the democrat and republican sides and he is if you can imagine what this is like like you go to this event all the most of the leaders of the free world are there you fly in to a private airport and and sea island and you go to this private hotel there's all these securities it's like a little mini un and the guy who runs the think tank is talking to a lot of since its free markets and competition of ideas there's a lot of conservatives there and and he gets in front of the biggest conservative donors in the world and starts to talk to them about love and why love is the world's support and figure of the world which for conservatives is like not normalized at all that right nobody wants to talk about that they wanna talk about how all the democrats are crazy and so i really had a lot of respect for him he has like a best selling book with oprah and and a documentary out about capitalism and so wow guy yeah i see i'm posing with oprah okay this is interesting and so you go to these like private private events how much what's the what's the absolute minimum one us to donate in order to be invited to the private thing i think it's twenty five or fifty k okay alright go through a screening process to realize i don't i don't know anything don't give a shit about anything that they probably like that they did i remember the first time i went they're like you do what where like they they thought this whole internet because don't wanna been doing internet for like probably three years so i told them that i i did little i wrote little blog was on the internet and they're were like well that's cool it used to be my secret that i like don't care don't vote don't watch the news ever like not as like a general thing like i just don't and yep and i used to not say it because when i did people would look at me like oh so you're just like it's some combination of you're dumb or selfish and they're like here's some combination of dumb and selfish i don't really understand and i never really knew how to put it into words because i was i don't know i'm just focused yeah i'm a focus on myself but not in the way that's selfish i'm trying to take anything from anyone i just put my attention on the things in my life and then somebody said this to me they go they go yeah you you're an extreme in any one position you you just being all consuming watching the news twenty four seven or never ever caring or paying attention neither one of those probably very good but to towards your end of the spectrum they go you know i think actually the world would be a better place instead of worrying about the government learning how to govern yourself and and i really took that that like resonated with me because i was like oh that's exactly it i realized i can't even fully govern myself whether it's you know i shouldn't eat that and i go eat that or i should wake up early and i sleep in or you know i wanna text my friends and stay in touch but i forget about them become consumed with what's going on my life i've yet to even govern myself you who what am worried about what's going on three thousand miles away and with other people i can't control at all let alone myself who i can't and so that was the first time i heard something that made me feel good about that right i previously just felt a little embarrassed but not to the point where i was gonna change my behavior because i was like i know intuitively this is right i just have no words to justify it well i always liked that i think it was jordan peterson that said before you clean up the world's clean up your room and i so i think there is actually a true component too man if we actually all just took care of our own things and our own things could be our family our friends our community life will probably be a little bit better so this support you in your purple non blue non red nature sean yeah yeah yeah and somebody also said this about relationships they go the wrong way to think about relationships is they'll take care of i i'll take care of you and you take care of me and then you're constantly feeling like you've lacked some care from the other side instead it's i'll take care of me for you and you take care of you for me and i think that's just a much better mental model for how to be in a relationship is care i will be the best i'm gonna become the best person i can be for you and you do if you do the same then we're both gonna end up in great shape and we both are focusing on the only thing we can control which is ourselves yeah yeah i love that well also i mean well i gotta tell you that people how to live that's my biggest complaint i'm like you do you and i'll do me and even if you don't like it i was still gonna do that anyway so you know thank god for freedom in that way okay i wanna ask you about content so you have built a big content brand across newsletters social media tiktok youtube or you're everywhere give me the kind of can you do a rant on like what is your approach like you were cody sanchez but at some point you created cody sanchez the brand and can you explain to me what went into that because i think most people don't know what goes into that i think a lot of people try to take an awe shu mentality and say i didn't really i hate i didn't think too much i just it just all sort of happened organically and anybody out there who would like to do the same as like great so i guess i'll just hope it all just happens whereas i i think that most people do have some thought that they put into things and a strategy maybe that they put into things or took a different approach than what they saw were doing and it paid off i'd love to hear your version of that totally one i hate when people do that i have never met somebody that after you dig in a little bit didn't systematically try for the thing that they have created in any aspect of life like that'll don't fucking buy it so that's one of my big pet peeve for me basically what happened is i think i'm the opposite of a lot of people that are public now so i raised a bunch of money before for my funds and built these big fund families right where we invested a lot hundreds of millions raised billions of dollars over my career not just for me when i was with other companies and what i kinda realized is that's a little bit like given a man as opposed to teach in a man fish and i was i was with a ceo of a company that i worked for back the day and i was starting to do a little of stuff online this is like your like six or seven years ago and i remember you took me on a walk on the beach at the monarch in or the montage or the monarch in california and he was like the thing is cody we get rich quietly here like we don't build the eye we build the me all those you know things and at the time i didn't really like that answer and in in self i was like well he doesn't get it and the internet's gonna be so powerful and and steak dinners and stripper which is how a lot of people in finance sprays money doesn't work and isn't gonna work in the future and so we should actually build a media presence but i realized quickly like he had built a multi billion dollar business it was his i was playing with his chips so he had every right to say hey no not am i done and so at that point it kinda realized that i think what i actually like doing is i like watching other people grow and build based on the ideas i share with them like my little ego likes when somebody tells me that one of the things that i did works for them and i feel like that's like kind of a cool legacy makes me happier and so i started realizing that originally just by speaking with some nonprofit we work if i would go and speak and i was like i kinda feel good i feel better doing that that when i close a big transaction actually and so i started doing that more and more and then i was like i think we should scale this because i just think i have that sickness in my brain that anything i do a little bit i want do giant probably not that dissimilar with you at basketball you're like i could go play a pickup game or it could invite mister beast and also lebron you're like well let's do option two and so so i was like i just started writing a newsletter for a while on and didn't realize it was a business and then the first thing i did that i would tell anybody to do if you wanna go and build a content machine is you should steal people who've already built the thing it seems so obvious but nobody does it everybody tries to do things by themselves and because i had built a lot of businesses by now i was like oh this is just a normal business we need ahead of ops we need head of i would have called it marketing back of the day but now we call it head of content you know we need a head of finance to figure out how much we should budget and how much we should put in all of this stuff and then we also probably need a bunch of chiefs under or a bunch of indians underneath the chiefs and so i basically hired those first three things i always hired first at the top and then i do a sliding scale down and after i had hired those three people because i was funding it all myself from what i had built before then i started to go sectors or niche specific so like hire one person for tiktok hire one person for twitter hire one person for instagram and it doesn't mean that they would write it all in their ghost writing i would just say i'm stressed about these three platforms i'm gonna remove my stress from me into you and so you shall now stress all day about tiktok and twitter and instagram and a newsletter and i will not i'm gonna stress on this portfolio businesses which nobody else can to run and so that's how i started and do you do you do one for the other do they feed each other or what's the what's the plan with the content like how does the content fit with the portfolio of businesses what's the what why do you do both why not just do one yeah well it's the bet i mean i think he maybe you've talked about this but the flywheel of content is the most powerful thing i've ever seen it i mean naval talked about it with his he i think he talked about three levels of leverage which was you know capital i'm sorry people capital and then code and then i think the current one is audience and audience is the only permission list version all those other ones you have to have banks you had to have employees say yes you had to actually understand code but audience is is so your favorite word democrat anybody can anybody swear jar before you leave you exactly anybody can can do it and so i was like well this is fascinating if i could get like for instance yesterday and in one of our youtube videos we put a a lead magnet to the newsletter and we got like twenty five hundred newsletter sign ups and let's say the newsletter sign up on average costs us one to two bucks well that was you know that's five thousand dollars i could have done through ppc or through organic i could just get it from audience content yeah yeah and so they all influence one another but how i originally thought about it is i'm gonna talk about content about buying businesses because i talk about buying businesses what's gonna happen a bunch of people are gonna wanna sell me their business so now i'm gonna buy more businesses that they wanna sell and i'm gonna buy them at better prices and faster than anybody else because they feel like they already know me and they trust me right and so i'm almost indexing on trust i'm gonna tell them exactly how i value it i'm gonna tell them exactly how i buy and then they're gonna sell me their business and then once they sell me their business i'm going to build that business through my audience so i'm gonna funnel more of the audience into said business and then finally when i go to exit the business i'm gonna have a community of buyers that wanna buy this business and then i'm gonna do it again and again again and it's sort of ended up working out like that i would say most often now it's that i get referrals to businesses that i wanna buy i it's not so much cold outreach so maybe it was slightly off for what i thought the thesis was gonna be right right and okay so i wanna give you a chance to address what i view as good criticism so what's good criticism good criticism is so bad criticism is this person's follow shit good criticism is it's it's not all perfect right it's like the that's like a good version of criticism meaning you're in a good position if somebody says that so for example i wanna give you a chance to do to answer this in two ways the first is every criticism i believe has a colonel of truth when i go read the youtube comments and somebody says blah blah blah about me it might be mean it might have been rude might have been un uncomfortable for but it's usually not completely based less there's some kernel of truth in it and the same thing on the good side somebody compliments me mean it's usually not as good as they say but there's a kernel of truth and that's what led to that that sentiment so here's some of the the peep things that people would say about you plus cody sanchez her real business is in creating content getting you to pay her to teach you how to buy a business not in the businesses that she's bought herself in what way would that be true and in what way would that be false yeah i think one i i think you're right one of our motto is question everything so i don't think there's anything wrong with with questioning any of that we make more money categorically from the businesses we own than from the community that we own for instance so like numerically categorically that's just the fact now would i be upset if all of a sudden we're doing twenty five fifty a hundred million dollars in a community and and this my idea of an m and a for mb like an mba m and a if i could actually create that and i could sup what we're getting in institutions and education systems to be fucking thrilled so the second that i make way more money with communities and courses i will be shouting it at yes like we built the best fucking thing ever we're doing tens and tens of millions of dollars and you're welcome like happy the second like what would be true about that is yeah we're really good at this like it is a big business it does millions of dollars a year i think we have really quickly sup anybody in the industry like we are the name if you wanna go learn how to buy a business soon we will be the name if you wanna learn how to sell a business and my goal is we will also be in the name if you want to learn how to build a business so we will own the entire ecosystem i'm in talks right now with university of texas and university of austin which is jo sales company to do a program with them where we can push back on what i think is awful education that's taught at most institutions right and instead of telling you what to think and a bunch of political nonsense we're just gonna teach you really smart financial tactics that you can apply whichever way you want so and so it does like i'm sure it's the same with you what bothers me when people talk about me online is if i feel like there is a kernel of truth or we fuck up like one time we did this tweet thread and it was a seven instead of a two for the number of years that i was at goldman which is like you can see it on my form u four and my linkedin you can see how long was a goldman and i had all these people be like i knew you were just a fucking secretary and you were only there for you know two years at seven and that one actually bothered me a little bit because i was like we were wrong and so fuck that's that's it's a typo who cares yeah i yes you're wrong but like don't beat yourself up over right like that's nothing yeah yeah it's true another way to think about or another like i guess thing to to react to so we get less criticism i was i was wondering if i was why do we get less criticism so i was worried i was like are we just less popular or less good than these other people and what i realized is actually no there's one difference which is when you do a podcast podcast because they're long form it sort of naturally filters a bunch of people out second it gives you a chance to breathe and be yourself and people down to once they get to know you and understand you they tend to not not feel the same way about you not not have like that sort of reactionary takeaway against you the third is that you're just not everywhere and the vibe is i'm talking to my buddy sam you're here listening as a fly on the wall versus you go on instagram or tiktok you're staring down the barrel looking at the camera saying you should do this all of a sudden your business crew all of a sudden you're telling me what to do all of a sudden guard the walls go up and literally just because of the way you're which way we're pointing when it's me talking to my c host is very different than somebody who's picks up their phone and says you know i'm so great and here's what i do and you should do the same so that's what i realized is actually the way that the reaction gets really big now i'm wonder how you think about like distancing yourself or do you just not care about like the whole like business guru kinda like grant her ty lopez like there's like this whole thing that i personally don't wanna necessarily be associated with i don't necessarily think that they're bad and anyway i just don't wanna be bucket it in with that group and i can see how there's like tension between the more you come out and talk about business and how to make it the more you can be bucket as business group how do you think about that do you do you think you do fall into that trap or how do you avoid that yeah one i think as i think i'm a big ethical moral compass type person so like if i feel like i'm doing something wrong that's gonna bother me a lot more than what other people think about me and so that that doesn't bother me too much i also think that would be curious your take like i wanna do a math model on this i so much of what we were told in today's society in my opinion is the opposite it's like it's cloud world it's we're told this one thing and it actually makes no sense for instance if i went out right now i've never ever raised money for any of the businesses that i invest in from my audience ever not once not once have i asked for a dollar for that now we have a venture cup fund that's tiny that i say do not invest in if you don't wanna lose money because this is like a very small it's a ten million dollar fund and it's like who knows who knows adventure works and i think that there's a legitimacy that comes with asking people for money to invest in your funds as opposed to teaching them how to do the thing which in my mind actually makes no sense because if i went and raised another billion dollar fund family like i did i'm going to make so much more money than i ever will teaching people how to do things online so much more money but then they don't actually learn so i think i have like a i like a chip on my shoulder about it that i wanna push back on it and i also think man young cody would have really liked to learn this earlier and wouldn't it be nice if somebody would have actually showed me their homework work back of the day like i would liked that actually so i think i think that's how i i rem it now i hate comparisons to grant card or ty lopez because i'm not talking about those too because i don't know them individually but you know i looked at some of the fundraising docs on grant card on stuff and i don't think it's that great for retail investors i think it's pretty one blindsided and i think ty lopez has is very like ferraris women you know get rich quick stuff and ours is sort of the opposite it's like this is gonna be hard it'll take longer than you think it'll be harder than you think and maybe it'll be worth it if you actually keep going past the point in which it's comfortable but yeah i think at some point you just have to give up what people think about you on the internet one way or the other because there's always gonna be you know if you think about it also sean like so if we have a hundred million views a month or five million followers like one percent is gonna be fucking nuts for sure just like categorically and so anytime something happens i go well that's the one unless we're doing something wrong and then i go well we we did that was a typo that's our bad right well i'm hoping the people who listen to this you know i i guess like i believe that like you just said you the you know the most important opinion is the one you have of yourself you know the reputation with yourself is the one that matters i also believe that people should come to their own opinions once they have the opportunity to hear you speak so i ask some of these questions to you because i wanted to i wanted to know that i wanted to hear how you would answer them myself but i also know that for most of people they're not really gonna get to hear you talk on this really anywhere so as far as as far as i've seen so i hope that people you know come to whatever opinions they want on on that stuff that's that's on them at that point i think that the ideas you shared at the beginning and the model that you've created here around buying boring businesses is fascinating to me i i'm almost jealous that i don't wanna buy boring business i'm like oh well the you know like what what's wrong with the chip in my brain that wants to buy exciting businesses like i only want to buy exciting businesses i think that is probably harder higher degree of difficulty yeah but you know you you you choose you get to choose the game we play that's that's the game i wanna play or you just invest in you invest in xavier thing which we both did too you know yeah and small businesses that way i mean and the only other thing i wanna say is like i think it's really cool what you guys are doing here because although you might not call your business boring you are actually doing the thing that most people in industry hate which is you're taking complex ideas and you're skin them down so a lot of people can execute on them and like there not a lot of people wanna share their homework like that so while mine might be boring and yours might be more sexy to think we're both to as something really similar which is here's a work for me here's some relatively complex stuff here's how i think we could really simplify it then like you go do you and go build something because i think that's the only thing that makes the world a little bit better are the builders my i invest in the same company you did shop genie which is like the perfect example of a boring business that can be pretty big and so these guys make like if you go to an auto repair shop if i if you need to go get your car repaired today you basically have to drive it it's only like walk in essentially you drive in or you call and nobody picks up the phone you drive up and then they're like it's gonna be a couple hours you could just like leave it here and like go home on foot and you're like oh shit like damn i wish this was like i wish this work like everything else in the world worked i meaning i wanna go go online and book an appointment and show up and drop off my car and be done and pay you online not like you know not like you know in cash here whatever it's so they made this like basically like a booking software for auto repair shops is that a good way to explain it that's how i think about it at least yeah well and now that you're talking about it i'm sure this will happen for them again but what's cool about when we get to invest in these types of businesses like we did a little tweet for them and an a little announcement of investing in them and they got like thirty franchise users who have multiple franchises underneath them right and so the ability to help somebody scale with a podcast like yours is really cool which makes sense because you didn't support shepard and i think that's like a similar similar model yeah it's so karen the founder of it he told about this business i was like that's a great idea i would like i don't wanna do that that sounds boring to me but it's not boring to you and that's all that matters and investing is the easiest way for me to like ride along that ride and the funny thing is he told me like back to the content idea he's like oh we have this guy i never heard of this guy aaron stokes do you know what this is but yeah he's he's like you know the the whoever you know the the gary v of the auto repair world and so this one guy i'm pretty sure this guy making like thirty million dollars a year just creating content for people that own auto repair businesses and he's like he has just conquered this niche and he's the he's doing the content marketing stuff but only for a really really narrow thing but then for them he's probably the only talented a content person that's creating anything for them and so when he hosts the event or he has the the paid group or whatever i don't even know this guy's full business model but i know that his revenue is up there sort of like twenty million plus and he can get a thousand you know auto repair shop owners to show up to a tiny event that he you know a conference that he throws and i was like wow this content game can be like niche down into the into the even though the boring verticals in a very interesting way yeah we should own more of those i mean like i think a fun game like a great content channel that i was talking chris my husband about was like oh what did he call it he called it like cringe con and it would just be like you going to different niche industry conferences and watching their keynote like the keynote from the self storage industry conference and like the keynote from you know because one of our our friends owns a small self storage company that we're gonna invest in and he was like yeah i went to a self storage conference and the keynote speaker was like they use words like hoard we use words like customers you know and you're like i just wanna to see this so there's so many ways giant compilation and really like niche conference hell was yeah i know i'm going to speak at bo conference next week about like they use all these word shot that you probably know because you're smarter than me like acc slash e e in parentheses on your twitter buyer i don't know what the hell that is seen that everyone yeah that's what i told i'm like i need need a dictionary to speak here and and what i thought was fascinating is i'm like you have this whole world that nobody else knows about and you know you guys have all made billions or hundreds of millions off of it so so many ways to make money and that to me would actually be boring like i don't you know acronyms i don't need all of those yeah i've told the story before but we got the idea for milk road till not the idea but the like trigger to launch milk road was so at farm con we went to a farming conference in kansas city and like same thing you know we get we go in and the the panel is talking about you know corn and wheat futures and i'm like i was stunned i was like these guys know what futures are and secondly like we're taking my corn futures and then one guy was like i'm only on beans and i was like man brother i'm all on beats too and and i think for different reasons and so like it was such a wild experience that i just really had no like it was a totally different world like you know literally like two thousand farmers in a room just talking farming and you know i think it's really good to get outside your bubble and kinda like you know for a guy from lives in san francisco talks tech do all day like that was a totally different experience i should do more of that but like that was my one kinda like my one trip last year like i don't gonna go burn man i went to farm that which i think is actually more extreme experience all things considered yeah that's gonna be me next week i already told ball i'm like i'm pretty sure i'm gonna understand half of this he had this idea too that i was like i think actually this is a terrible idea at categorically he's like wanted to do five minute speeches like five minute little speeches and i'm like one that's hard like oh you know okay we can do that and he's like i wanna do a bunch of them and i was thinking in order for some of them to be really fast what we'll do is we'll we can pre record some of it so it's really good and we'll walk up on the station we could press play i was sorry like a dj i was like apology you are this man ever met and also know he's like a man instead of coming to the conference everyone just stays home and actually they just to on their own in the podcast app it's a podcast actually yeah this is yeah i mean thank god humans think differently but i'm i'm really curious to imagine if i could carry a conversation well with a lot of people here just gonna tell them the thing is if you wanna know about laundromat bath i'm your girl that's about it they're like we don't we don't that's that next alright cody this is a great so i took you so far over time but not at all was a blast thank you for guest hosting while sam out and that's the pod we're oh where should people follow where do where do you want where do wanna send them cody sanchez on all the socials pretty straightforward alright that's it i feel like i could rule word i know i could be what i want to put at all in it like the days off on a road travel never looking back