What I’d build if I wanted to get rich with AI

0:00You were talking about moats, and as a person who likes the game of business, I don't like to get made obsolete. I feel like I can rule the world. I know I could be what I want to. I put my all in it like no days off on the road. Okay, yeah, I wanted to show you something. So it certainly feels a lot of days like AI makes you obsolete. There's a bunch of different conflicting feelings. One is, what the hell am I going to do if AI can do everything? The other version is, I should be doing way more. AI can do anything. And there's all these other people doing really awesome things around me. I should probably go do something awesome. What should I go do? It seems like it's a really competitive game.

0:41I'm really late to the race with a lot of these things. And you think you have all these ideas, and then you sit there at the computer and you're like, what should I make if I can make anything? Yeah, that's one part of it. How do I use this to make stuff? Another part of it is like, wow, you look at a company like Anthropic, it's basically the most fast growing, it's basically the best business in the history of capitalism so far, right? Like they've created $2 trillion of value in like five years. You know, it's an incredible thing they're doing. Do you realize that amongst the seven co-founders, I think they've been around for $2,500, 2,500 days. They have basically created collectively,

1:16the seven founders, $96 million of net worth every single day since founding. Yeah, bananas. I think they only own like 2% of the company now, right? Like 14 or something. But each is like 2.5% or something like that. Yeah. Okay. So, on one hand, you see tons of people making hay and you're like, oh, I want to get in on that, but it feels very competitive. On the other hand, you think, well, if I just go build this thing, isn't it going to be obsolete in a day? You know, what's the future of software? So I really started thinking about where would I go if I really wanted to make something happen right now? And so let me show you kind of like my quick thoughts on this. Let's get to where the puck is going, not where it has been, Michael Scott.

2:02And so, you know, the goal is what in four or five years is going to be something we look back at and say, man, that was, now was the time that we should have been doing that. Five years ago, the thing to be doing was to go work at one of these model companies, OpenAI, Anthropic, you know, so on and so forth. And so using AI to create video, like runway, images, like mid journey text, like chat GPT, you know, those are the things to go build. It was not obvious at the time, but for a small number of people, they did see that they saw around the corner. They saw that this is the place to be. That's what the action is. So where do I think the action will be over the next five years? So, you know, right now, what you will hear about with AI is AI is amazing.

2:42You'll hear about coding. You'll hear about personal agents like Instinct or Muse or Grokbot. And you'll be hearing about LLMs. But Sam, you see that far left corner? You see that down there? Just look over here. There's something else smaller around the corner for you to go look at. And I call this AI in the world of things. And so I think that using AI in the world of, you know, bits, which is basically like digital stuff, I think has very low returns. I think using AI, anybody who's like, I'm using AI to make content, it's a race to the bottom there. I think using AI to make software, SaaS, right? Make tools, I think is, you know, kind of a race to the bottom. You know, do it if it's just where

3:24your heart is. But to me, that's not where the opportunity is. So where's the opportunity? I think it's in the world of things. What does that mean? So the first place I would go look is drugs and miracles. So if you go look at, there's somebody posted this tweet the other day that was, here's a list of people that are curing their own cancer right now. And it was basically like, you know, the guy from GitLab who used, you know, tech, right? AI plus plus to sequence his tumor, to then find, to run through like possible drugs that could do it, to then synthesize them, compound them, research them, ultimately take them and shrink his tumors and get rid of his cancer. The guy cured his own cancer. He has a service that you could sign up for.

4:06My friend with cancer signed up for it and he's doing great. And so, and there's like seven other people that are doing the same thing. And in general, the idea that we are going to apply AI to science, to biology, to developing new drugs. You know, a drug typically took 10 years and $2 billion to make and had like a 80 or 90% failure rate. Pretty tough game. And because of those numbers, only drug companies of a certain size really play that game. And I think what Eli Lilly's doing is awesome. They are like Eli Lilly's like, you know, leaned in super hard to AI. They're, you know, they're buying compute like they're one of the tech companies or like, you know, the way Cit hard to AI. They're, you know, they're buying compute like they're one of the tech companies

4:46or like, you know, the way Citadel is spinning up its own data centers or Jane Street, you know, spinning up their own data centers to be able to apply AI in the world of finance. They're applying AI in the world of drugs. And so Google has this company called Isomorphic that Demis, the kind of founder of DeepMind who was running AI, he's now just kind of like all in on Isomorphic, which is basically, great, how do we cure cancer? How do we go solve some of these big health problems? And now is the perfect time to go build a new type of drug company, a new type of health company. And so I think that's super exciting. That's one place to look. Any thoughts to that or you want me to go to the next one? Yeah, no, I think it's awesome. We're seeing it

5:21firsthand. Our good buddy, Ben. Ben, old producer Ben, who had the most dire outlook and he still is not out of the weeds, but he, or out of the woods or whatever the phrase is, but he posted an update that he's doing way better. And when he tweeted out about this, because he has a big following, he had all the nerds, all the AI nerds, like reach out to him and he like got hooked up with all the right people. And he is a recipient of some of this stuff. So we're seeing our buddies actually survive or prolong their lives because of this. It's awesome. I mean, if you haven't seen it, go watch Ben's tweet update. It was like, I opened up my phone on Saturday morning, watched that thing and basically cried.

5:58I was just so happy. He looks so much better. Yeah, he looks better. He sounds better. I mean, he's doing better, right? He's like, you know, he's like still got cancer, but it's, I mean, a dramatic improvement from this drug. The way he tells the story is amazing. Everybody go watch that. It'll make your day. So, okay. So I think this is like a super exciting space. If you're a smart person, join one of these companies, go build one of these companies. Like there's never been a better time to go do something that has high impact. And the technology window has opened where new things are going to happen. There's new results possible. That technology window was not anywhere near as attractive in

6:35the past. Oh, did you see that? I just stepped over a million-dollar problem, a million-dollar business idea. And that's the thing. Most people walk by these million dollar ideas all the time and they don't even notice. And so our friends at Starter Story, they put together a list of 90 business idea. Each one it's vetted. They're all real problems, real gaps in the market because they talk to hundreds of entrepreneurs and they put together this amazing stuff that's incredibly well researched. And so if you want to find a bunch of amazing business opportunities, you can get it for free. Just scan the QR code or click the link in the description. Okay. The next is food is technology. So I don't know if you saw this. There's a

7:13YC company called, I want to call it, this is called Nitro Duck that just came out of stealth. And basically they're doing like genetically modified food, you know, using CRISPR to change fruit so that it like grows better, higher yield, tastes better, is better for you. Like all the good things that somebody would want out of growing food. Like how somebody invented the Honeycrisp apple. It took 20 years to do it. And we get it 24 or 365 days a year. It's incredible. Where does the food come from, dude? Where does the food come from? You know, I just walk into the grocery store. It's just there. It's not just there. It's incredible. It's incredible. Where does the food come from, dude? Where does the food come from? Right? It's like, you know, I just walk into the

7:46grocery store. It's just there. It's not just there. It comes from somewhere. And like you said, like that variant of that fruit that came from somewhere, right? Like, you know, each one of these things is a genetic being, a genetic organism. And those organisms, just like we're going to be applying, you know, biotech and AI to our bodies, we're going to be applying it to plant bodies. And so super exciting. You know, I think David Friedberg is probably the most well-known entrepreneur that's doing something here. He's trying to make like, you know, potatoes and corn, like new versions of these foods that are better seeds, better crops that farmers can then use to get better yields, to have better,

8:26whether it's better flavor, better for you or can then use to get better yields, to have better, whether it's better flavor, better for you or better production. And so just the idea of a plant, that food is a technology and that again, the technology window is open. To me, there's so much exciting stuff that could be done there, ranging from technology that works the fields, you know, some new kinds of tractors and, you know, using computer vision and whatnot to actually like help grow the crops to actual seeds of the food, new food, you know, new types of food. I think this is like super, super exciting. And, you know, so much work can be done there. All right. What's the next one? Well, yeah, next one, warfare. So, you know, there's

9:00the idea, like if I picture in my mind, like the military machine of America, you know, I think about tanks and soldiers and boats and maybe some like fighter jets. And I think, you know, okay, I'm speaking a little out of turn here. I don't know actually what's going on in the war fronts here. But I suspect that that is a bit of a fantasy. It's like, you know, my wife growing up dreaming about her wedding. She just had this vision in her mind that didn't meet reality for a very long time. The little girl when she was eight versus when she was 30 getting married, a lot had changed. And I think the same thing is similar with what war probably will look like at this point, which is drones fighting drones.

9:46It's, you know, unmanned tiny aircrafts that are super cheap to build. I think this is what's going on in Ukraine and other places where you can spend, you can send really expensive equipment out there, but they can just send like, you know, a little piece, you know, a piece of junk metal autonomously flying is super cheap to make. You can make it high volume and it could do a lot of damage. And so I think warfare is probably, you know, Andoril obviously is doing really interesting things there. There's other companies, you know, Joe Lonsdale has a company that's, you know, kind of underwater, you know, the sort of Navy, the Navy version of Andoril. Did you read about, you know, how we took the leader of Venezuela?

10:25I didn't read. How did we do it? Well, what did they do? It was basically, well, so wherever they took him, it was like in the middle of a city. And I'm almost, I'm not positive, but I think either no one died or like close to no one died. And people are like, how did this happen? And they were talking to people on the ground and they're like, we don't know what happened. We saw the helicopter laying on the roof and we were standing there and we couldn't do anything. And they were like, what do you mean? They're like, we couldn't move. And people are like, what do you mean you couldn't move? And it turns out they use like this new weapon that's like a, it sounds science fiction. It's like a ray of stuff that like,

11:04it's like a ray that shines down to you and like stuns you and you can't move or think. And people could just go, yeah, yes. Look up what happened. Yes. Yes. This is like a thing. Yes. Where like they basically, there was a joke. So on Google, reports claim that the U.S. forces use a mysterious sonic or directed energy weapon during the January 13, 2016 raid that captured the leader. Eyewitnesses that a security guard claimed that it was an intense unknown force described as a powerful sound wave or directed energy. And it made him feel like he was exposing, causing the guards to bleed from the nose, vomit and collapse to the ground. Donald Trump called it. he used discombobulator when describing the weapon.

11:53Yeah, but it was like this new weapon that just like caught, like they couldn't do anything. It didn't kill them, but they couldn't move. That's wild. I met a guy in San Francisco. You know, if you go to San Francisco, you just sort of walk around, you just meet like random hackers that are doing very interesting things. So I go into this one place that used to be an old auto body shop that my friend had turned into kind of like a hardware co-working space or just like place for his investments to go work. And there was one dude in there. It was 11 p.m. There's one guy in there. And he goes, oh, you better, you might want to back up. I'm like, what? This guy is, he was like, I'm building lasers

12:28that can shoot drones from like extremely high distances away. And I was like, oh, okay. You're about to walk into run. Yeah, I was like, I was going to record a podcast. Can I do that right now? And then, he was like, I don't know. So, yeah, I think there's crazy shit going on in warfare. I think like, you know, obviously there's a lot happening here, but you know, if you think about AI applied to the world of things, this is obviously a space that's going to happen. Hey, let's take a quick break. You know, that feeling when strategy is done, the brief is written, everyone's aligned and you realize someone still has to sit down and actually create all the content. That someone is usually you and it's due tomorrow.

13:03Well, the Breeze assistant from HubSpot can help. It works right inside HubSpot. You can draft campaign copy, blog posts, emails, all in your brand voice, all using your actual customer data. So you don't create just content, you create content that converts. Check out HubSpot.com, the agentic customer platform for growing businesses. Next one, building homes with AI and robots. And I don't know if you've been following this, but one of the big things that's going to improve the quality of life of humans is if we can bring the cost of living down, right? A lot of people's stress stems from the cost of living and just feeling like they're constantly underwater with how expensive it is. And the most expensive part of your life is going to be,

13:42you know, for most people is, you know, their home, the place they live. I think right now the mortgage rates are 7.25%. I think, you know, where I live, I think, I don't know what the cost to build per square foot is, but it's something like, you know, for a nice home in this area, it'll be like six to $800 a square foot. Let's just say roughly. And there are people who are building homes like prefab high-end homes that can be done at 20 times cheaper, 20 times. And so, you know, if you could do something at 20 times cheaper for something that, you know, the construction industry is a gigantic industry. It's one of the biggest industries in the world. And I feel like we are within 10 years away

14:24from there being a kind of night and day difference of the cost to build a home. If you want to go see some crazy shit, go look up Zuru Tech. This is our friend, Nick Bobre, who was on the podcast, who him and his brother are like, you know, two of the craziest entrepreneurs in the world. They have a factory in China that is literally printing homes. So what they do is they basically like print a home a day. And when I say print, that sounds like some cheap 3D printing shit. No, no, no. These guys bought when the fires happened in LA and people's homes burned down and those lots were kind of ruined and there was no, like nobody, the people who didn't want to rebuild, they had to sell. These guys bought, I think,

15:05$60 to $80 million worth of lots out there. And they're building $20, $30, $40 million homes that are going to be built in a factory in China. And what they're doing is literally you type in... 3D printing is not the right word. It's a more efficient way to a more efficient way to like pour concrete it's if you've ever seen how like the iphone factory works where it's this incredibly automated factory in china where they're just spitting out these incredible devices that a billion people will use and it's like the highest quality manufacturing you can do these guys are doing that but they're making homes instead of iPhones. And so they figured out, you know, each part of the home, like how to build it.

15:50And they're building these like luxury homes that are modular, can be assembled on the spot, almost like Lego block style. And if you go look at the earthquake simulator, he basically was showing me, he's like, yeah, like we made this home. And, you know, just to test the seismic resilience of it, we had to build in the factory, a earthquake simulator where we could put this, you know, 5,000 square foot home or whatever. And then we can run it through the five biggest earthquakes that have happened on earth in the last 50 years. So, hey, let's push this button. And that's the Chilean earthquake. Let's push this button. And that's the huge one that happened in, you know, Morocco or whatever.

16:26And it's basically shaking the home, making sure that it's architecturally sound, that it doesn't, you know, and they're iterating on these homes daily. And then they take the home and they put it right now, they just put it outside the factory. So outside the factory, there's like a hundred homes in a row where the workers just go live. As they're building, they're like iterating over their prototypes every single day. It is like one of the most insane projects in the world right now. Most people have no clue it's even happening. It's like Elon level of ambition, technical scope, change the world when it works type of shit. And it's real. This is not like pipe dream. It's not Silicon Valley

17:00where you're like raising money. These guys raise no money. They put a billion dollars of their own personal capital into funding. This thing took no external capital and they're just building it in China. And they've, because they've spent 20 years building highly automated factories, um, in China, they started in the toy business. And I don't know if you know this, but the toy business is like, if you like, if you ask Elon who he admires in terms of manufacturing, he'll say Lego. Because to manufacture at scale with absolute precision, a Lego block that's going to perfectly fit into every other Lego block. It can't be off even by like the smallest amount. Or like when they were doing the Tesla cars, he would famously like there's a meeting where he had a Hot Wheels

17:40car and he's like hearing all the problems of their assembly line, he's like, well, why don't we do it like this? You know, they just inject the whole bottom thing as one mold. It's not 200 pieces. It's one mold. And they're like, well, Elon, that's a tiny car that's two inches big. He's like, yeah, but what if we just made it bigger? And they built their own custom, like, molding thing for the bottom of cars. And they actually pulled it off and it just radically simplified their assembly process. And now, and then they got ahead of all the other car manufacturers they're the only ones that did it for like seven years because they owned all the machines that were the only they built the only machines that could do it at that size um and so being great

18:17at toy manufacturing actually translates really well to manufacturing other things are you is that your presentation are you done or is there more because i, I want to, I want to talk to you about it, but I don't want to like derail it. Is this the equivalent of being played off the stage? No, no, no, no. I want to ask you about it, but I don't want to like derail it. Let me just give you, okay. I'm just going to say the other ones. I'm not even going to explain them. All right. New materials. I don't even fully understand this. I would need to go hang out with some like crazy people. Cause this is like, when you hear it and it's crazy talk. But there's people in San Francisco, they're like trying to literally do alchemy. They're like, oh, we made gold. We figured out

18:48we can literally make gold out of like this other material. Or they're literally trying to just invent new materials. So actual material science is happening. I find that to be interesting, but way above my pay grade. FSD for everything. So full self-driving everything. So I don't think people understand like self-driving cars are definitely here. Like I get in my Tesla every day. I push the button. It drives 90 something, 95% of all the miles. The only time I take over is basically in parking lots where I want to pick my spot and I don't like the spot it's going to pick for me. So it's crazy how self-driving works, but they're now applying that to everything. So forklifts inside of warehouses, machines that go clean windows at the top of skyscrapers.

19:28So it's basically like the machines that will fix the world. Like how do you go get the barnacles off the ship? How do you go maintain bridges that are not being maintained today? And so people are building the machines that will go automatically go maintain our world, our living world, that today like takes a lot of human effort to go maintain. Weather and oceans. We had Will O'Brien on, and he was talking about, like, basically ocean tech. So the way that space and space tech has gotten super hot with SpaceX and others, ocean tech is, you know, right around the corner for the same thing. And the last one is human body hardware. So this is Neuralink. This is basically, it's AI in the world of things,

20:06but the things are us. And, you know, I have a friend, Tyler, who's been working for years on this thing called Atom Limbs. And he basically, you know, he's like, you know, somebody goes to war, they fight for our country, they lose their arm or their leg. They're given this really shitty prosthetic, like stiff piece of plastic, this piece of junk, where the technology is actually out there now where you can put a robotic arm onto your arm that you can use your mind to say, pick that up and it'll pick it up. It's kind of a shame that we just haven't done the engineering to bring the cost down for people who come back from wars or have like tragedies where they lose a limb. We can actually give them a really superior limb

20:43if we just do the hard work and engineering to actually bring the cost down where it's affordable and let people know that this exists and you don't have to have a prosthetics dump. And I think that's really inspiring to me. This is awesome. I feel very optimistic because I've been like trying to figure out, I read a lot of history because I'm trying to, one thing, figure out what makes America so special. How did this experiment come to be? It's pretty crazy how these group of guys had this opinion on what the world should be. And 250 years later, it's mostly great. And I was reading books on it. And between 1880 and 1970 or so, there was this massive explosion of American growth. And part of it was like our values and ideas, like this idea of individual liberty,

21:34equality, private property, capitalism, like that all like combined. And we were the first country that was founded with that collective group of principles. We were the first one that really had that. But one of the reasons why America became so special was in the 1890s, 1880s or so, Rockefeller discovered oil. And then soon after, Carnegie started creating steel using iron ore. And we had so many resources in America that basically, everyone talks about the gold rush. The bigger rush was out of Duluth, Minnesota, where we had this massive mine that created this stuff called iron ore, which was used to create steel. And we also had huge copper mines. And you could put it on a ship based out of Duluth, and it could go through the Great Lakes, which is basically the size of an

22:23ocean. And Great Lakes are huge. And it can get up to New York and get up to all these amazing places really, really fast. So the point where in the 1950s, we were transporting so much iron ore that that was enough to create 50 million cars a year. That's how much we were transporting on the Great Lakes. And then we were growing all this food in the farmlands of America because one of America's greatest abilities is to grow tons and tons of food. And so we had all these people and we had 50 states that were tariff free. And so like I was reading about like the massive resources in America and that we don't get enough credit. I mean, it was luck, but we don't get enough credit. Like that's one of the reasons that made us great.

23:00And then the 1940s, World War II happened and every place in Europe and a lot of places in North Africa and Asia were destroyed, but we were good. We were good because A, we are so far away and B, we didn't get destroyed. And so I was thinking, I'm like, it feels like we're going to go through another one of these things. Because if you look at the data center creation in America, it's like way beyond most every other country right now. And it feels like we're going to go through another one of these industrial revolutions simply because of our entrepreneurial spirit, but also the huge amount of resources, including people. We have so many people working on this stuff. And so whenever you talk about this, I'm like, America is going to go through this massive,

23:43massive explosion. I don't know how it's going to look. I don't know how long it's going to take, but it seems very comparable to the industrial revolution. Yeah, it's interesting. I mean, I was in a group chat yesterday and I think people have, there's one way to look at it is exactly what you said. That's, I would say, a very optimistic take. I think another group of people feel extremely pessimistic. And, you know, if I boil it down, what are they pessimistic about? It's basically the most popular parts of America, like New York, California, are trending towards socialism. So, you know, a hatred of billionaires, a hatred of companies, a hatred of AI, a hatred, you know, like there's a lot of like negativity towards those exact things, those drivers of progress that you just talked

24:30about, right? Capitalism and, and obviously an output of capitalism is that you can build a successful company and you can become very wealthy and you can, you know, go compete and build new technologies and all those things. And then you can, you know, take those resources you have and reinvest them in the next, you know, in others, right? And that self-sustains all the progress. And so I think one negative view is, have you, you know, are we losing, are we losing what made us great in that way? Another piece of the negativity is, you know, have we hollowed out our ability to actually build things? You know, for so long, we kind of outsourced manufacturing to China. And so now trying to get back

25:11and kind of reshore or reskill or re-industrialize is like, sounds good, easy to pump your fist to, really hard to do. Do we actually have the stomach to do it? It's like a big company that hasn't innovated in a very long time. And even if you realize you need to innovate, can you actually move such a big ship? Can you culturally like get back to that or not? I think that's another one. And then the third one is like, you know, general skepticism around AI. So, you know, either AI is so good that we're all going to lose our jobs and people are going to be out of work. Or AI is so, is not as good as it's advertised. And it's a huge bubble. And this is all, you know, it's going to tank the market because everybody's overspending on it. It's sort of like a no-win proposition.

25:53And so it's funny to hear you say that because several of our friends in a group chat literally had like such a negative view that was so foreign to me. But, you know, I understand where they're coming from. So a lot of times people at the podcast, they'll reach out to me and they're wondering, Hey, Sam and Sean, how do you meet all these amazing entrepreneurs? How do you find all these stories? Well, I have a hack. You see, I actually have a community called Hampton. It's a community for entrepreneurs doing at least 3 million in revenue, although we do on average, something like $25 million a year in revenue. We have the founders of DoorDash, of Figure, of Bluetooth. All these amazing companies are part of Hampton. And what's

26:28interesting is because of the environment in Hampton, which frankly is very similar to My First Million, we have a very unique high trust environment. When people apply and go through the vetting process, they're put in groups of like eight or nine other entrepreneurs, and they get real about everything that's going on in their life and in their business. And sort of like when people listen to MFM, they get inspired to come up with new solutions for business. That's what happens in real life in Hampton. It's life changing. And so if you're a founder of a startup that does at least 3 million in revenue, and you just want to go ahead and pull forward five or 10 years worth of success, then check it out. The URL is joinhampton.com.

27:01Again, the URL joinhampton.com. Again, the URL joinhampton.com. Well, I think that I would change the word pessimism towards and switch it to uncertainty and fear, which is very understandable. I think that what we're missing now is good common sense leaders who can say things like America is amazing and we have problems that we should fix. Capitalism is amazing. And I understand why you guys are upset that housing is so expensive. Let's try to fix that. Like, it just seems like there's this, you have like guys like Trump on one side and then like an AOC on the other side and they say such polarizing things. Do you think those people don't exist? Or do you think that the incentive of the media machine

27:44is that the more, the farther to one end you go, the louder your voice gets, right? Because it's more polarizing, you get more attention. word. And there needs to be like ways to reclaim some of these words that people use. For example, the Democrat Socialists of America, like when they talk about socialism, I'm like, that's really, historically, that's quite bad. That's not like a good thing to do. Now, I'm not like, I consider myself very moderate. So I don't consider myself to be like total libertarian where anything goes. And also I like capitalism. I like immigrants. But there needs to be someone who like has this like fairly common sense approach where they can bridge both sides and, and, and talk about this in plain, simple language in a charismatic way. Cause that's very important

28:35where you, but you can't be fear-based and you can't say like this other side is going to ruin everything or capitalism is evil, et cetera. Yeah. I've actually always thought that somebody should make the common sense political party. Cause I think common sense is such a, such an amazing phrase that lets you take the moral high ground. Common sense. If you say you're the common sense party, it implies that everybody else is being a dumb ass, right? Like everybody else is not using common sense. If they're, if they're not in the common sense party. And then also who can argue with common sense? It's sort of like when Trump came out and was America first or make America great again. It's like, well, who can take the other side of that? Who can say, no, not America

29:13first, right? Like, you know, he took the moral high ground with a sort of inarguable thing that he could then put his agenda underneath. And I think if somebody really wanted to create like, instead of being like like, moderate, which basically sounds like the tampered down version of everything, the passive, the middle, the not going to do anything party, it's the, you know, I think that, or like, you know, the third party, the alternates, it's like, you know, they always make themselves sound less than, like, third place. And I think you have to basically go in and go into one of the parties but hijack it and rename the platform around being the common sense candidate and then just constantly beat the drum of common sense. And I think a sufficiently charismatic person could

29:55use language like that and go pretty far. I would love to see it. Yeah. Like, for example, there's so many things that Trump will say. And I'm like, OK, well, that policy I don't disagree with, but I don't like how you talk. I don't like how you're rude to people. So it's hard for it. Like, you know, there's the emotional side where it's like, I don't like supporting you because I don't think that you do great things. And then like a left person will say something when Dottie will say something and I'm like, okay, free preschool, that doesn't sound so bad because that's something he enacted. That didn't sound so bad, but all this other shit about free stuff, I don't like that. And so I don't want to agree with, you know I mean? And so but he does it in a very charismatic

30:27way. And so I'm like, I just wish that there was a charismatic, fairly moderate common sense person who could say like, AI is good. We will use it to help us. America is amazing. And also we need to fix these things in our country. And also capitalism rocks. And we could try to make housing more affordable so everyone could be happy and have some type of safety net. And so I just wish that we could have that. And I think if we get that, which frankly, I think we will. I do think that there are a lot of- Don't you think it's sort of weird? Like, we've all just accepted this? Like, you know, a country full of very smart, high agency, brilliant, there's brilliant people. There's brilliant people in the country full of very smart, high agency, brilliant, there's brilliant people.

31:05There's brilliant people in the country. And yet if like an alien came down and was trying to understand what was going on and it's like the McKinsey of aliens, he's like consulting, he's doing a quick audit, he's doing a quick, quick management check here. What's going on? They'd be like, but why don't you, why are the leaders always like this? Like, is this, are these the two best people in the country? Like, wouldn't you want the two best people in the country kind of going head to head to see who should be the leader of the country? And like, does, does anyone think those are the two best people? Like that's the kind of, it's like a kind of bizarre thing that we've all just sort of like, I guess that's just how it is.

31:43And like, why are you being such a dick about your own people? There's something I don't understand. I'm like, we're trying to get, we got to rally everyone together. You don't want to like be an asshole. But yeah, I think- I don't try to participate that much in politics, but it is, this is a curious person. It's just very curious, like, how we ended up here, right? Like you said this thing, like what made America great. And I feel like everybody can, it's, everybody can attach their own pet reason why, but it's more like Charlie Munger says, like a Lollapalooza effect. Like anytime you have this extreme outlier, it's usually a rare combination of seven or eight tailwinds at once that came together that creates such a huge outlier effect.

32:29And so it's like, yeah, maybe there was some natural resources at the right time. Maybe it was the culture and the values. that allowed, you know, those who were high agency and willing to create things that were of value for people would go into competition with other people doing the same, which would create the best products in the market, which would create, you know, these winner-take-all dynamics, right? Like you could assign like many different possible causes and they all probably played their part. Maybe it's just that we were a new country and it's sort of like when Africa never installed, you know, landlines and they just leapfrogged straight to mobile, right? Like maybe America was just got to be new and got just leapfrogged straight to mobile, right?

33:05Like maybe America was just got to be new and got to leapfrog where other countries were. We had like 150 years of practice. So the colonies were kind of like running themselves on their own. And then they're like, yeah, we're not feeling this England thing. We're going to go ahead and just put on a pen to paper on these rules that we've been doing. Right. And they had a fresh start. And so there's clearly a network effect where when you have the best economy, then you attract the best people, then work in the economy, which makes the economy better. And you get this kind of runaway thing that happens. Okay, great. So there's like all these things. And so, you know, it's interesting to know what made it work.

33:37And it's interesting to know like why the weird broken parts are weird and broken despite having all these advantages and all these really smart people who mean well in the country? Like, how does that still happen? What are the larger forces at play that are pretty hard to fight? But the point that I'm trying to make is, you presented all these interesting opportunities, and I buy into all of them. And we have, I think, America is uniquely set up to be the petri dish, where a lot of these things grow very, very quickly, so long as we don't get in our own way. Because we have the, it's sort of like, you know, a seven foot tall eighth grader who gets drafted number one, like it's there, just don't blow it. Like

34:14it's there, you know? So I'm really excited for that, frankly. And I understand the fear and pessimism. I totally do because it is a lot of uncertainty. But I'm pretty bullish on a lot of this stuff and making life better, not just in America, but around the world. So I'm excited about it. So one of the reasons I brought this up is I have a cousin who's really smart. He's like the same age. He's basically like smarter, better looking version of me. And he recently became a free agent. So he's like sold his company. He's thinking about what to do next. And he was about to do what I think a lot of people do, which is we look inside the peephole and we say, all right, what do I see? What's the best thing I see here?

34:57When actually the job is to expand your field of vision. You're not even looking at what the possibilities could be yet. You're still looking at a very narrow, limited set of what's possible. You know, Who are the people I know? What could I do with them? What are the jobs or companies available around me where I happen to live? What did I do in the past? And what did I do? What am I good at? What are my experience? And then I'll be staying in that industry. Let me stay in that job, even if that industry is not the one that has a huge tailwind behind you. When really the thing to think about is like, wow, I'm a free agent. I'm a really smart person. And I have the opportunity to go do anything right now. Why don't I put kind of my investor hat on

35:34and think like an investor of like, where is the best body of water that I should go be in? As Mark Pincus said on our podcast, go find the right body of water. That's far more important than trying to be the best sailor in a shitty body of water. And, you know, when Mark Pincus said on our podcast, go find the right body of water. That's far more important than trying to be the best sailor in a shitty body of water. And, you know, when Mark Pincus was talking about that, he was basically saying social media was the right body of water to be in back in the early 2000s when he was building social networks and then ended up building Zynga and invested in Facebook and like made a bunch of money doing that.

36:00Right. And so I was told, I told my cousin, I said, I said, why don't you just write down the five most interesting things that are like most interesting companies you've seen that you think like, if I gave you, you know, $10 million and you were going to, you got to keep all the profits, but you have to invest in these five companies, which five companies would you pick? And he's like, I don't know. And I was like, that's a good exercise to do. It's a much better exercise to do because it gets you to stop thinking like a worker and start thinking like an investor. Investors have this incredible benefit that they get to go where the action is. They move where the money is to be made, where the opportunity is happening,

36:40where the growth is happening. And they move themselves. They're more nomadic than entrepreneurs tend to be or employees tend to be who like to stay in their industry, stay in their lanes. And he did the exercise. He sent me the companies. It was kind of eye-opening for him to be like, oh yeah, like I haven't really, I don't even really know that much about this, but my gut says there's something here because I know this. And actually I'm going to go look more into that. He started looking more into it. I started to expand his horizon. I think that's what my hope is that when somebody sees a deck like this is that it takes whatever like narrow field of view you had and just says like, you should probably widen that.

37:14You should probably think more like somebody who's like a total free agent, more nomadic, doesn't need to stay in their lane because the opportunities are like bigger than anything we've ever seen. But it's all going to be in the new spaces where you don't have a lot of experience or you don't have a lot of intel. You don't need to have it. Look at this, you know, even this presentation, it's not like I went deeply researched any of these, but I know enough to know that there's a lot of opportunity in each one of these. And you just have to then go start digging and figure out what's the exact angle. Yeah, you just got to be ambitious. When I see these things, I'm like, I really want that to happen.

37:49I'm not going to do it, but I want someone to do it. Well, we're in a different season, right? When you're in your 20s, you probably would have wanted to go do it. Yeah, I'm like, I want to watch someone do that. Like, both of us moved to San Francisco because we're like, I don't know what, that's the right body of water to be in. let's just go figure things out when we get and it worked and it worked it worked amazingly well like even if you just get the crumbs it works totally and that's what I think it is you know there's both moving geographically but also like move where the puck is going and I think this is where the puck is going I think AI in the world of things is where the puck is going

38:22over the next 10 years that's where a lot of the opportunity is going to go. Go pick any of these. There's a lot of good stuff. The good thing about each one of these is not really like, hey, here's how you make money. Here's how the world is about to change for the better. All of these are going to change the world for the better. You get to go have impact while doing cool new shit, while making a bunch of money. It's like, what more do you want? You just like appropriated the word internet of things. You remember that? That was supposed to be like O'Reilly Media was like, that's going to be the thing. The internet of things. Smart fridges? Yeah. And it like never took off. Like we're going to make our appliances talk to each other. It did not, you know, they wanted it to happen.

39:02It did not happen. And yeah, you just took that. Now it's actually going to happen. They were about 25 years too early. Do you remember how they tried to make that a thing? Yeah. I mean, it's kind of a thing. I feel like annoyingly I have to download an app to use a bunch of shit that doesn't need an app. So I guess they're trying to make it a thing still. Somebody's out there fighting the good fight still. Yeah. I have to like log in to use my vacuum. Like why? I don't know why that's necessary. Good presentation. Nine out of 10. Appreciate you. Nine out of 10. All right. That's it. That's a pop. All right, my friends, I have a new podcast for you guys to check out. It's called Content is Profit, and it's hosted by Luis and Fonzie Cameo.

39:51After years of building content teams and frameworks for companies like Red Bull and Orange Theory Fitness, Luis and Fonzie are on a mission to bridge the gap between content and revenue. In each episode, you're going to hear from top entrepreneurs and creators, and you're going to hear them share their secrets and strategies to turn their content into profit. So you can check out Content is Profit wherever you get your podcasts.