Gary Vaynerchuk on using AR and IoT for brand engagement
At CES 2018, Entrepreneur’s Jason Feifer sat down with digital mastermind Gary Vaynerchuk on Samsung NEXT’s #WhatsNEXTLive stage to discuss everything from IoT to Russian hackers. Gary infuses passion and strong language into his views on technology, innovation and investing, as he encourages entrepreneurs to see that “merit and truth are always the winners in the macro.”
Jason: Gary, how’s CES going for you?
Gary: It’s going super well. This is the only public thing I’m doing. I’ve literally been in hotel rooms having meetings, trying to make some f*cking money the whole time. So, just meeting with clients mainly, a couple of emerging platforms, but very focused on, you know what’s interesting? CES, South by, Cannes, these big events I never go to the stage, I don’t consume the content, I’m even speaking less, I just am using a ton of the opportunity to have the meetings that I need to have over the next 120 days in one place. So basically I come to Vegas for three days to save five or six days of travel in the net score. So, just trying to be efficient.
Jason: Yeah. I think everybody’s curious what somebody like you who is touching all points, who makes a mission out of connecting with people and making sure that you know what’s hot, what’s new, what people are thinking about, what kind of conversations are you having here? What are you seeing or who are you meeting with that you’re really excited about? What kind of technologies are you seeing that you’re really excited about?
Gary: I think what’s very unique about CES is that people get very excited about what’s coming, so I’m always a big fan of, and I know some of you here follow my content, I’m very big on daytrading attention. What that really means is I like being practical. I don’t like when people think I’m a futurist or a disruptor. I don’t think I am. I actually think all I am is just very practical. I try to pay attention to what you’re paying attention to at scale right now and how do I bring you value in those environments. So the thing that’s interesting to me here is everyone’s talking about you know, voice and IoT and connected this, connected that, which is absolutely going to happen, I’m super excited about it. I can’t wait to never leave my f*cking room.
Gary: Like it’s all going to be great, but for me, I think it clouds a lot, which is there’s a lot of companies, I would say the far majority of companies here will go out of business before the promise of what they’re trying to deliver on becomes consumer at scale. And so for me, I’m excited but tempered in trying to help people stay alive for the holy grail. You know there’s a lot of people in 2007 that thought social media was going to be big. The difference between and a lot of them, was I knew how to stay alive from 2007 to 2013, before it became really real. For me, that’s what CES always reminds me, which is great, I can’t wait to have my robot wipe my ass, but before that happens make sure that you’re still in business in 2027. And so there’s a little bit too much 2027 talk for me, but at the flip side, I love that people are inspired, excited, meeting new people, bouncing ideas, thinking about things differently. And I would argue for everybody I’m looking at right now, if you see something that allows you to then use that as a proxy to be practical over the next 24 months, that to me is interesting in the way I think about CES.
Jason: Yeah, so where you were going there was where I wanted to pick up because you have an easy situation in that everybody wants to come and talk to you. That is not the case for most people here who are trying to grab attention, who are trying to find connections, it’s a lot harder. What is your advice to folks who have to go out there and pursue instead of being pursued?
Gary: Yeah, I mean look I think the advice, you know I’m a big fan of giving advice I’ve actually taken myself. You know like I’m a big fan of eating my own dog food. I used to come to events like this and nobody knew who the hell I was and I was in the wine business and it made no sense for me to be here. I’m an extrovert, it’s comfortable for me to do what I recommend these people, which is if you literally don’t know each other it’s probably a good idea to say hello. You’ve got a common point of view of where the world’s going. As many people as there are here, it’s still a very tiny percentage of the net score and so for me, it was comfortable to come to something like this, listen to people and say hello, grab a business card, send an email, try to build a relationship.
Gary: I’m a big believer in serendipity. I didn’t chase the people on stage. I knew equally that the person sitting right next to me in a 13 year macro might be valuable to me and so, my advice to everybody who’s not being chased down and cameras and all this, is to say hello to the person next to them because that’s how life actually works… Now, there’s a lot of people here that are shy, you know. I grew up with parents that had an accent. This is an international show. There’s a million things that I can run through my mind from the psychology of why every person here now won’t look to the person to the left and right and say hello. It still doesn’t make the advice wrong. That is the ROI, the ROI, my friends, everything you’ve seen here you could watch on the f*cking Internet next week. The ROI of coming to this thing is to engage with the people next to you right this second. There’s nothing I’m going to say right now that you haven’t heard me say in some other version for the last f*cking decade.
Jason: And you’ve got to remember that everybody’s here to meet people. That’s a funny thing is like, you’re afraid of–
Gary: Yes, but, go ahead please.
Jason: No, well you’re afraid of reaching out but you want to connect and you have to remember that the other people are thinking the exact same thing. When you ask people why you come to something like this, why you go to some conference, the answer is always to meet other people. That’s always the number one thing. It’s not to like watch some people on stage, unless it’s you. But otherwise, it’s to meet the people who are there.
Gary: Yeah, I mean in South by Southwest 2007, Mark Zuckerburg asked me to introduce him to Kevin Rose, the founder of Digg. Like, the world changes and so you know the people that get to sit on the big stage, things like this, that, the other, they change. But you have access to everybody, I mean there’s f*cking hundreds of thousands of people here. I’m just a very big fan of saying hello versus pitching. I wrote a book called Jab, Jab, Jab, Right Hook because I really wanted to establish the way I think of it, which is I just think that Herb and Greg should know each other. I don’t think that Greg should pitch Herb his business, I think they should just say hello and create context and then something may come from that. I just believe in that. I don’t know what else to tell you. I think it’s very practical.
Jason: Let’s talk some technology–
Gary: Greg, say hi to Herb.
Jason: Greg, Herb. Marco and the guy whose tag is, Robert. Now you know each other. Oh, you already know each other. All right, well whatever. So, Gary, VaynerMedia’s got a division VaynerSmart.
Jason: Where you are using new technologies, AR, VR, Internet of Things, to connect brands with consumers. Talk to me about being on that cutting edge, how you stay on it.
Gary: I’ve got very focused on IoT products, like literally your beer reordering itself for you, smart refrigerator being more important than anything. But the reality is VaynerSmart was named three years ago when I started it and the promise didn’t come true, meaning it’s not moving as fast as I want it to, thought it might. So now what VaynerSmart does really is an obnoxious amount of Alexa skills and Google Home skills and even podcast marketing, which is very basic that could be in media, because voice has become very real.
Gary: I’m spending an enormous amount of time thinking about that and so, VaynerSmart itself is probably going to get rebranded because it’s encompassing with AR and machine learning. I’m starting to realize, “Okay, the things that I know are going to happen in a 10 year macro, but I don’t know exactly when and how it’s going to pop. I need to create a division where it’s highly not profitable because I’m just investing.” And so, VaynerSmart and some of the ML, and AI and AR stuff is there. Then stuff that’s even further out like VR consumer or some of the connected stuff we’re seeing here, that will just sit in my investing world and networking world, not as an official department.
Jason: Diagnose the problem. Was it because it’s hard to move an organization at the speed that technology is changing?
Gary: No, the technology hasn’t delivered on the promise of its speed. I don’t know one f*cking consumer product that’s reordered itself for itself for anybody in this home. Like it’s always about my mistakes in my career are always timing. Always. Like, I understand consumer behavior so well that it’s been my calling card. I really know that everybody’s going to do a lot of things here. Like online dating was obvious, you know, I didn’t think it was weird dudes in their basements. I thought it was going to be Tinder and I invested in Yobongo and One and Highlight and everything. I got unlucky that Tinder was incubated inside of IAC. I knew that was going to happen. Everybody here is going to be very deep in IoT and voice and order their toothpaste while they’re, it’s all happening. It’s not the technology. So much of the promise here is going to be four to six years later than they said when they talk to you at the booth. So, we move fast as f*ck because I’m willing to lose money. The technology wasn’t fast.
Jason: So, how do you stay, are you trying to plan out to the four to six years when something that is talked about now is actually going to be enacted?
Gary: Always. Yeah. I lost a fortune last year on voice strategists because I could taste that it was going to be now, right? And whether it was 2018 scopes, which I’ve signed with clients, or 2019, I knew it wasn’t going to be 2020. I can’t say that for a lot of the technology we see here. So for me, I’m not scared if I think it’s really close within a year, year and a half. Look, I bought cryptocurrency in 2014, but it wasn’t because, I didn’t know when or how and I didn’t even know if, I really didn’t. I just knew maybe or kind of or probably or why it could. And when you look at the world, look, I think the fundamental separation that I have is really predicated on two things. I have empathy, so I’m thinking about what you’re thinking about, and number two, I don’t care about money in the short term. If you really actually understand what I just said on those two things, if you’re actually consumer-centric and you don’t need money in the short term, you always look like a f*cking genius.
Jason: Do you have a checklist in your head when you see a new technology that you’re like this is actually going to come? How do you analyze something and say this is something I’m going to see now, this is something I’m going to see four to six years, this is something I’m going to see never?
Gary: Is this something that Sally and Rick that no dick shit about technology are going to be interested in? And that’s completely a subjective call. And then that’s number one. But the way I answered number one is will this save somebody time? I missed Uber early but I got in early because I realized very quickly after I didn’t realize it, that they were selling time not transportation. The reason connected devices and IoT is going to work, is it’s going to save you time. You don’t want to go to Duane Reade to buy Band-Aids.
Jason: And sometimes I think people confused convenience with time, you know? I feel like I see things, I think I see some things here or I see some things elsewhere, where it might be a better way to do something but it’s going to take the same amount of time to do it.
Gary: Well I mean look, that’s what happening with e-commerce, right? Are you saving time by spending all of January shipping shit back? You’ve got to look att these things. It’s a super fascinating game. I think that’s right. You also have to think about things that are nice-to-haves versus necessities. Uber, again just as a proxy, you’ve got to get to places. That is a must, right? A nice-to-have is a million other things we could debate, but you know? Look, I think the barbershop will be disrupted. For the most part, not for everybody, but you’ve got to get your hair cut, right? You know? Like, I’m coming don’t worry. I think about that. If people definitely do that often, scheduled, all of that stuff will be disrupted.
Gary: But most of all, it’s I don’t like people and I don’t like companies and businesses that are ideological. Like there’s way too many enthusiasts here that would like to see this shit happen. I don’t like to anything to happen, I just want to try to figure out what I think is going to happen. And a lot of times that’s put me in a place where people judge me and made fun of me until they didn’t. All my friends made fun of me that I signed a K Swiss sneaker deal because I had the audacity to think it would work, until it all sold out in four hours and then they stopped laughing. The reason it worked was because I understood where attention sat. Right? And that’s how I think about the world.
Jason: When something works you’re a genius and when it doesn’t work you’re a fool.
Gary: Success has unlimited fathers. Now everybody thinks they were involved. Like [Babin 00:14:22] thinks he the reason the K-Swiss sneakers sold, right? But failure has none, right? I mean yeah, look, but that’s what makes it fun. If you’re in a place where you’re comfortable with accepting your losses, I’m proud to say up here that I’ve had to pivot VaynerSmart because the timing of IoT hasn’t worked in the way that I thought it would, that’s comfortable to me.
Jason: It means you’re watching the market.
Gary: Yeah. To me, that’s comfortable. I’m so sad that so many of you don’t do things because you’re worried about being judged. It makes me sad. Like that sucks, f*ck. Like to me, that’s my loss. Like what’s that got to do with you? Like I don’t give a shit what you think, Marco. Like I’m doing my thing and so, when you start getting comfortable with losing in the micro, well then you can really start doing things. So for me, that’s why it’s comfortable to day trade. If you day trade, you’re going to miss a lot. You just have to make more than you miss. And for me, I just am comfortable in that mentality.
Jason: When brands come to you, how comfortable are they with this ride? How comfortable are they with you putting them in touch with something that may not be ready or are they–
Gary: I don’t sell things that are not ready. We didn’t sell any IoT. Only maybe strategy of like educating them on where it potentially could go.
Jason: So then let me ask the flip. Do they want things because it’s buzzy even though you know it’s not going to work?
Gary: Sometimes, but I don’t let them unless they prove to me that the headline in TechCrunch or AdAge had a viable business reason other than them getting promoted. Not that they, by the way, not that they listen to me. Like client services suck shit, like most of my client, I mean 90, 100% of my clients don’t do what I think they should do. 100% But, that’s why I use my personality as an outlet for me creatively. The Gary Vee thing is far more a testbed for me creatively. I’m far more proud of being the architect of making myself a personality or awareness than I am that I’m it. Like, that’s more my parents and my environment, they get the credit for me being a good guy and having charisma. That’s not me, I’m the architect of how I got you to know who I was.
Jason: In our story, we put this guy on the cover June. The story about you focused quite a lot actually on that division between the personal brand and the branded. It was interesting to me. I didn’t realize the degree to which you wanted those to feel separate.
Gary: Yeah I mean, look, I don’t want to be a charlatan or a motivational speaker. Those aren’t interesting to me. But I’m also willing to people to judge me and misunderstand me because I know how this all plays out at the end. So you can boo me in the second quarter, I’ll talk to you after the game.
Jason: And I like the way that you think of yourself as an R&D lab. You’re testing things on yourself that you think are going to pay out.
Gary: Yeah. I mean like I didn’t invest in Facebook and Twitter and Uber and SnapChat and buy cryptocurrency in 2014 and launch an e-commerce site in 1996 by accident. I didn’t create a brand that allowed me to sign a sneaker deal bigger than 99% of athletes by accident. None of this is f*cking accident. This is me being willing to eat shit and have humility and take negative feedback while I try to figure shit out. I work, I do shit. Like everybody’s debating, I’m doing it and I’m willing to take micro losses for macro wins and most people aren’t because they want short term money or they actually value other people’s opinions over their own.
Jason: On the subject of negativity towards technology–
Jason: This is slightly selfish that I’m going to pivot into this, but I think it apropos for the setting. I have this podcast called Pessimists Archive: A History of Unfounded Fears of Technology, where we look at things that why people feared and banned stuff that today we think of as totally normal. Gary, I know you’re familiar with it, and I love that you are also passionate about calling out when people say that something, that some new technology is going to change us in some terrible fundamental way. I mean the number of things that are going to come out of this show that then people are going to talk about for six months and it’s going to ruin the way that we converse, it’s going to ruin the way that we are as humans, and I wonder from your perspective, how you address that conversation. When people say this technology it’s fundamentally bad.
Gary: I don’t agree with them. I think, you know, go Google the kaleidoscope. Kids have something in front of them and it was going to ruin their, like you know this. I mean we tripped into that when we were hanging out. My level of respect for Sean Parker professionally, because I don’t know them super well, is extraordinary. It’s extraordinary. I grew up during that era, they’re brilliant. I completely disagree with their current headline grabbing statements about Facebook. Technology is exposing who we actually are, it’s not changing who we are. We’re struggling to deal with the fact that we have a lot of shortcomings that we’ve been able to hide before in our personality traits, not Facebook changed me. Guys, like people are like, “Oh, everybody shows their best life on Instagram and everything’s perfect.” That’s what we always did, we just had a coffee with our friend and said everything was f*cking great. Like, technology is exposing who we actually are and demonizing technology of the moment is always, always historically incorrect.
Jason: Yeah, I totally agree. I feel like the way I think of it is that the shape of things change, but the thing doesn’t change.
Gary: I have no interest in listening to billionaires that made billions on products then shit on those products because they’re altruistic. I just don’t, I just don’t agree. By the way, I may end up being wrong. It’s all on f*cking film. I just have a funny feeling I won’t.
Jason: Yeah. Well we survived many before.
Gary: Are you kidding me? Look f*cking everything was supposed to, Mike Tyson’s Punch Out was supposed to ruin my f*cking life.
Jason: The bicycle, the car, the Walkman.
Gary: It’s the same shit.
Jason: People banned the Walkman.
Gary: Like, oh, now you’re stuck in your stream on social but it was way better for you to watch television for nine hours a day and have three old white guys what to think. Like we’re being so naïve this is about, my friends, life is about choices. Either, we have the collective voices and you … I laugh about Facebook. Facebook doesn’t make me watch Russian hackers’ content. Me engaging with the things that are put on Facebook, show me Russian hacker content. You want to see how Facebook [inaudible 00:21:31] everything? You know what nobody uses? Facebook search. You want to see how Facebook actually works before we demonize Facebook? Go to Facebook search right now, type in hockey. Go like 17 pieces of content that show up and watch f*cking hockey content get shoved down your f*cking throat over the next two months. Facebook’s not penetrating you and changing your mind, there’s no f*cking Russian hacker that got you. You f*cking actually thought those things, you just don’t like it.
Gary: It’s truth and we just don’t want to deal, we want to blame everybody but our f*cking selves. We have zero f*cking accountability. You have subconscious bias, deal with it. Period. Sorry. But it’s the f*cking truth, it’s not f*cking Facebook’s fault that you’re a f*cking racist.
Jason: You can take those photos of people who are all sitting in a group looking at a phone.
Gary: It’s truth. Like why are we not having the real, by the way, by the way, on a serious macro, I’m pumped. I actually think this is our societal step backwards for two steps forwards. Like this is painful, we’re all dealing with it, it doesn’t feel great, it’s negativity at scale. Like I suffocate in negativity so the macro’s like f*ck this sucks, but this is one big step backwards [inaudible 00:22:56] 10 years. By the way this doesn’t stop over a day, but we’re going to take massive steps forwards because of this because the truth is always the best conversation. And let me remind you who is hiding the truth, the traditional media companies, not Facebook. So, f*ck you guys. Like I’m so pissed at that, that is such lack of accountability and then people posturing after they’ve made their money, f*ck you.
Jason: Wait, I want you to expand more on that. Traditional media companies hiding the truth.
Gary: Matt Lauer got away with it because of NBC and ABC and the Wall Street Journal, not because of Facebook and Twitter. The Internet is now the media company period, which means everybody has [inaudible 00:23:40]. There’s the commerce and branding side of it, which I love. I’d still be in New Jersey with a bunch of liquor stores if the Internet didn’t come along. Like there’s a lot of that but like there’s a lot of like, when you could literally call Rupert Murdoch and be like, “Yo bro, you’ve got some reporter at Fox that’s investigating me. Like shut that shit down.” And they did, that’s how the world worked. That’s not how it works anymore. That’s the bottom line. So that’s what I mean, like you decide what the f*ck’s an entrepreneurial magazine.
Jason: I do. Doesn’t mean I decide who is an entrepreneur.
Gary: That’s for sure, but guess what? You kind of do because like, what I mean by that is, and we all do that, it’s just that we all can do that now. Every single person here can use the, distribution has been commoditized. I, as a personality, as a human, have as much of an entrepreneur audience as now media companies. I think that’s absurd. That is unbelievably transformative.
Jason: It’s not just that, but then media companies come to you because they want to reach your audience.
Gary: 100% and it works back and forth. It’s leverage of attention. I’m just so happy that the truth has momentum and look, it’s going to change us tremendously because not one of us, including me, doesn’t have human shortcomings. And we’re going to need to reconcile that. The era of hypocrisy is in trouble. We’re going to eat shit, have a lot of casualties, but then our grandkids are going to live in a world where we accept each other’s shortcomings way more than we do now because nobody’s going to be able to hide. 10 years ago, a lot more people went to the strip clubs last night. Now, with media everywhere, a lot of people re-thought their decisions last night. The world’s changed, that’s just real. That’s just the truth. So, I think that’s fascinating. I think that plays out in a million different ways.
Jason: I don’t know that you’ll even have an answer to it, but just to play the other side, anything concern you? What do you see that concerns you?
Gary: Nothing. I’m being serious. Let me tell you why. I like data. Here’s my punch line, we human beings have done a really good f*cking job adjusting along the way. You know what’s way scarier than Russian hackers? The Black Plague. I don’t know, like f*cking concentration camps seem a hell of a lot scarier to me contextually than naked selfies.
Jason: So here’s what’s scary, we forget how terrible that shit was. Right?
Gary: That’s how it gets repeated.
Jason: That’s right. We forget that we had those fears, we forget that we fought the battles.
Gary: There’s people literally mad that people gave them skim milk instead of almond milk in this audience right now. Like do you understand how f*cked up shit is? Like we have zero perspective. A good friend of mine who knows me super well, last night at a dinner or two nights ago said to me like, was acting weird with me and we got into a little conversation and he was kind of razzing me subconsciously that I only put out positive content and that it’s a façade. Like if any of you said that I’d be like, “Oh I totally get it, let me explain.” But this is somebody that fairly knows me for like a decade, I was at his wedding, right? I don’t go to a lot of weddings for context. So like, tight. And it was fascinating to me, I was like, “Wow. People are uncomfortable with people that have really,” like my mom is the same way.
I just have unbelievably deep perspective, which is the following. Unless the eight people that I love the most are really sick, everything else means dick. I mean that. I’m in a struggle to lose money today or somebody said I was a, you know when AdAge said the what the f*ck moment was my sneaker and razzed me, or like, that means nothing. So what scares me as a collective, nothing. In the micro, the health and wellbeing of the people I love the most. Everything else is controllable, everything else is my fault.
Jason: You know something we have in common is that we’re both in positions, to build off of what you just said, we’re both in positions of positivity. It’s actually, I feel very fortunate about it because inside me, I don’t know about inside you, but inside me I’ve got a lot of enthusiasm and positivity. I’ve also got a lot of deep skepticism, but I know that what people want from me is positivity. That’s valuable to them. It puts me in that place where I can feel that the most, where I can exude that the most. I think you’re probably experiencing something similar.
Gary: You know what’s funny? I have come to finally realize that I realize that I mean nothing, which then doesn’t allow me to have the audacity to be cynical or skeptical. It’s you know? I’m empathetic and by the way, parents having sex at the right moment giving me DNA, like this is not me. But I’m like why am I not skeptical? Why am I not cynical? Oh, because the f*ck does my opinion mean? Like the amount of people dropping their 2 cents on social media to shit on somebody like they mean something. People try to build the biggest building in town by tearing everybody else’s building down. When you have enough talent to just build the biggest building, you just build the biggest building. I could give a f*ck about anybody else. I’m doing me and honestly, I wish all of you the best and I even really hope you beat me because that will keep me hungry. But the truth is, I’m not worried about other people’s shit. We’re counting everybody else’s points too much. Worry about your own shit.
Jason: So we’ve got a few minutes left and let’s do it by building people up, if we’re just talking about that.
Jason: So, we had a guy, had a conversation with Samsung folks here just before you came on, where they were asking me Samsung’s looking to partner with barrier-redefining people, really amazing entrepreneurs who are pushing boundaries. I said, “You know who they should ask, they should ask you.” Actually, f*ck that, why don’t I just ask you on stage, put you on the spot. Who should we all be really excited about?
Gary: So one of the things that I, you know it’s funny you asked me that question off of what I just said. I’m spending almost zero time paying attention to anybody else so I struggle with this. And then the only answers I know are people that are really within my circle so I hate this question because my head goes to a funny couple places, right? Rachel Tipograph, but I invested in her company. So it feels self-serving so I hate to, I never give the answer but the only reason I know is because I sit on the board and I watch her navigate and I think she’s a ninja and an incredible entrepreneur, right? I think she’s special. So like, the answer is the names I know are like 20 people all who are self-serving so outside of Rachael I won’t name any of them. But it’s the ones that I can actually see what they’re actually doing.
And there’s a lot of people doing incredible stuff. A ton of people, I’m just not, you know, as you can tell I’m very passionate about the shit I know. I get really quiet when I don’t know and the truth is I really don’t know, I really don’t know. I’m not paying attention to that. I spend 100% of my time on consumer behavior. I care about what you’re going to do, I obsess over it, I spend 18 hours a day over it. I try to figure out why 8 year old girls make slime. I try to figure out why Champion went from being a private label at Walmart to the brand that has the most swag in the streets. I try to think about what Cardi B did. I try to think about what’s going on on YouTube Kids, and like why is Siri every 6 year old’s best friend. That’s what I spend my time on. You’re amazing at knowing their answer, that’s what you guys spend your time on. So, I suck shit at 98% of things. It’s in that 2% that I’m going to be all-time.
Jason: But your answer actually brings us full circle to the beginning of our conversation, which is about meeting people and discovering how great they are because your answer is well the people that I know, I’ve gotten to understand what their strengths are, what their genius is. And so the answer is go expand — I mean to everybody here, not just Samsung, to everybody — you go expand your network and then you understand the great resources in people that you have around you.
Gary: I think so and I think it’s interesting. There’s a lot of variables to why somebody gets put on a pedestal and listen, I’m massively benefiting from having a lot of sizzle but the only way to win long term is to have the steak. I’m always trying to be thoughtful of like what’s — and I think sizzle’s special like I don’t downplay like oh you, to have sizzle means something that’s, by the way, most of the people you know. To say who’s a great entrepreneur, it’s somebody that I think is going to be sitting there — You know look guys, we’ve lived now through literally almost nine years of complete global economic growth. Shit has been great. Like when I look at everybody under 30 in here and I’m like, “Oh my God, never in their professional life have they hit a tremendous recession or a massive market crash.” Like there’s not a lot. It’s so fun, like I’m looking around like I would say, I don’t know, 65, 70% of everybody’s faces I see here didn’t even live through 2008, let alone 2001, let alone the mid 90s. It’s super easy right now. There’s so much money in the system.
Gary: All these entrepreneurs, start up people that everybody looks up to, they lose money every month. It doesn’t take a hero to lose money every month. Everybody here can lose money every month. I’ve run businesses for 22 years of my life every day of my life and I’ve never ever ever raised any capital and I’ve made money every single year. That’s a skill set, so that’s what a great entrepreneur is to me, not riding a golden era and was able to raise capital, she or he. No, running a business. Now, that bubble will burst and then we’ll get to see who’s still around and then we’ll see everybody else who says entrepreneur in their Instagram profile right now when they’re working in Bank of America in 24 months. And so that’s what I’m waiting for. I’m most excited for and waiting for and hoping for complete global economic carnage so that we can weed out the B and C and D players.
Jason: Well Jesus, if you had stopped talking a minute ago we would have ended on a high note but instead we ended on that.
Gary: I don’t think, by the way, that’s why I think this is so fun. I think that is a high note. It’s the same way I’m looking at what’s happening now. The truth should win. If you’re a piece of shit, you should lose. If you’re not a good entrepreneur, you should have a job. Merit and the truth are always the winners in the macro. We’re just in a micro right now and people are confused.
Jason: Everyone you have your mission, introduce yourselves to each other and give it up for Gary.
Gary: Thanks guys.