https://www.youtube.com/watch?v=evNrefJmM_I&t=9623s&ab_channel=MorePlatesMoreDates

1
00:00:00.000 --> 00:01:00.000
i would say we live
like [ __ ]
okay and i say that
and i say that
i was cracking up
but like i mean i'm just being wrong
because like at some point i'm like i
just said it like these are the four
things you can spend money on like what
else you can spend like and so yeah it's
you know um like we go out to eat we
probably spend
twelve thousand dollars a month on on
food
we're here with
alex for mosey who is a highly requested
guest i don't know if you saw on the
graham stefan pod that you recently did
i made a comment just because i was
interested in watching and then it got
upvoted to the to the top and everyone
was like make it happen make it happen
so
yeah absolutely no i didn't know it's a
good that was a fun pod those are good
guys
no yeah i like the fact that it was uh
they really got into

2
00:01:00.000 --> 00:02:00.000
more of your i don't know vision of
i don't know like world views and kind
of things that were above and beyond
like general surface level or
entrepreneurial advice and stuff it was
like really really insightful and i
think a lot of people definitely
resonated with it a lot
well i appreciate it after i got after i
got out of there i actually got in the
car with layla and i was like
yeah i was like i don't know if i can
find that stuff you know i mean like
they just asked it and i was like well
here's what i think you know and um i
you know honestly the the response was i
would say overwhelmingly positive most
people were like dude i feel the same
way and i feel like you put words to it
or you know i mean things like that of
course i had plenty of people who were
like you know you know you're going to
go to hell and all that kind of stuff
but um
yeah
so a lot of i don't know how many people
have seen
your stuff already to kind of uh
you know already have an idea of who you
are what you're about and stuff and i
don't want to get too in the weeds on
your entire upbringing to
acquisition.com because that could be a
whole pod in itself i know you've talked

3
00:02:00.000 --> 00:03:00.000
about it multiple times so
as far as like what i found from your
channel like how people might you know
why i align with your content so much
like i found you to be
alex is one of the only channels that
has like experience in the trenches and
actually documents
practical advice that got him from zero
to 100 million
in annual revenue i don't know if that
number is like you know bigger or
whatever
but just in general like he's a very
accomplished entrepreneur and i find a
lot of his content very applicable to my
situation and it's unique in that
it's not like there's any secrets held
back where you have to jump into like a
master class or something to kind of
like find out the real answers to things
you just like lay it all out there and
it's very unique entrepreneurial content
so
i've found it extremely valuable myself
and i feel like a lot of you guys might
uh find interest in some of the stuff he
talks about too from entrepreneurship
worldviews bodybuilding stuff which you
haven't really touched on a whole lot of

4
00:03:00.000 --> 00:04:00.000
these podcasts so i'm looking forward to
no not at all yeah not at all man i
haven't i that was i mean as you can
imagine it was by design i mean i just
i uh you know i had you know i had a
chain of gyms first and so everything i
had was about fitness um
and then i think
i mean the day i started my gym was the
day i realized that i liked fitness
sorry i liked business more than i liked
fitness and so fitness became my second
love the day that i started my business
um and so that was definitely a
significant switch um
but then once i went full into like
talking about gym business which was gym
launch and that started like 2016
um i pretty much stopped talking about
fitness all together because i didn't
want to be like
i didn't want to be a fitness dude i
want to be a business guy and then to
the same degree i already look the way i
look and so
um i mean i'm sure you deal with the
same thing but um i didn't want to get
you know snap judgments or
how people make you know navigate the
world so i can understand that and so
everything i could do to try and not
emphasize that is what i've done up to
this point um caleb and i have had some

5
00:04:00.000 --> 00:05:00.000
conversations about whether i will uh
you know maybe show like five percent of
the the fitness stuff because it is a
part of my life uh but i just haven't
spoken about it much
so like
obviously gym launch you know hugely
aligned with the fitness you know
industry and whatnot but more of like
like i don't even know if people
realize what goes into like getting
people in the doors of gyms or how these
gyms are scaling and like how you've
kind of like built this infrastructure
of not not necessarily
like having your own gyms but you found
a way to not only take your experience
in gyms yourself but then transition it
to helping jim scale and bringing a
shitload of customers and just like that
process and how you
built up the companies from scratch um
could you just give like a sweeping
overview of
like you know when you started you built
this company this company in this
company your recent exit and like where
you're at now with acquisition.com

6
00:05:00.000 --> 00:06:00.000
yeah i'll give the the business
highlight reel um so i um i started one
gym southern california i was in
huntington beach
that was my first gym
slept on the floor figured it out um
at month 15 up in my second location
uh opened up
three more after that in southern
california
two of those were corporate locations
that were actually merged into yamaha so
we actually did a corporate contract
with them which is actually a pretty
profitable deal for us um
ended up selling uh all five of them to
different people so i sold uh one i sold
three to a partner
one to a competitor and one to
one to a client so i had uh and i did i
had a an asset sale an llc sale i had uh
an all-cash deal that was financed i had
a seller finance deal so i had like
every type of deal it and it's funny
because in retrospect i'm like wow that
was actually amazing experience but at
the time i was like why can't these all
just be clean you know
so anyways i i did i had those five

7
00:06:00.000 --> 00:07:00.000
opened up a location um on the east
coast because i thought i was gonna do
this kind of launch and go model
and ended up not being a good idea
and then i went back to doing what we
were doing which is doing turn around so
we kind of would fly out fill a gym up
in 30 days go to the next one we did
that for about two years we did 30 30
something gyms i think it's like 32
turnarounds and um then we had the
brilliant idea or i failed my way into
uh maybe we should just show people what
we're doing rather than physically
flying out to their locations and doing
all this work um and so we switched to
licensing and that's when everything
really blew up and so that was really
jim launched the licensing business
which is like they would have i'd be
like here's the ads here's the copy
here's the videos here's the pages
here's the headlines here's where you
put your stuff in this is the follow-up
sequence to get them uh to show up this
is how you set up your lobby this is the
script here's white labeled versions of
our meal plans our grocery list our food
preparation instructions eating out
guides blah blah blah put your logo on
all that stuff um you know then once you
sell them here's the script for the
halfway sale here's the script for the
supplement sale you know what i mean and
then here's a conversion of memberships
this is the price point you should do it
at here's how you discount it like all
that stuff so you just handed that that

8
00:07:00.000 --> 00:08:00.000
system over um
and we gotta we it exploded you know i
mean i think we did 26 million in our
first full 12 months of business um
which is pretty pretty nuts uh from a
girl and that was like
i mean it was nuts i have no idea it was
yes it was we you know i don't it's
funny because like the the further i get
from it the more i the more i don't take
credit for it because i think there was
i think there was a confluence of events
that had that happened together
unbeknownst to me behind the scenes that
ended up creating an outsize return um
and so uh you know that's when jim
launched blew up uh two years after that
i started uh prestige labs for a
supplement company um at that point i
think we had a few thousand locations
that were licensing our business model
um and so we sold through that
distribution base so basically you know
if a gym has 20 people who come in per
month to sign up for you know
memberships or trials or challenges or
whatever we just say hey after you sell
them the service just sell them
supplements right and so you know if you
have a thousand people selling 20 it's
20 000 customers and that's how that
business you know grew pretty quickly um

9
00:08:00.000 --> 00:09:00.000
and then uh we started allen which is a
lead working software because the next
constraint that most of them had was
that they wouldn't work the leads that
they would get uh and so you know i saw
where messaging was going where machine
learning was going and i was like you
know i bet you we could automate a big
portion of this and so um we were able
to do that and and get twice as many
people in the door compared to the
average front desk person um for about a
fifth of the price so they were like
awesome and so we grew allen
and then
and then all in 2021 uh we exited all
three companies we exited uh the
software company in i think june
and we did that to a strategic partner
that was an all stock deal
and the other
deal was a cat all cash deal
which was a
prestige and gym launch we sold as a
bundle um to apg which is a american
pacific group out of uh san francisco so
the allen automation like not working on
leads how do you use the software to
automate that process or
to maximize the leads so to speak is

10
00:09:00.000 --> 00:10:00.000
there like like automated facebook
return messages or like how like what is
it exactly
yeah so there's a lot of so we we really
lucked out because we got um
the guy who won the machine learning
contest out of russia so there's google
in russia it's not google it's like
their version of google and they hold
this like machine learning contest every
year for coding and we got the guy who
won it uh really really bright guy
so-so english uh but super bright
and so he basically just applied machine
learning to every component of of the
funnel from click to show
um and so like there's lots of things
that you're able to figure out where
like
it would be better to get 100 of people
scheduled and have 50 of them show than
it would be to get 90 of people to show
and only get 30 scheduled because your
throughput there would be 27 versus 50
right and so you know we started looking
at the total throughput of a marketing
campaign from click to show um and we
found out some pretty interesting stuff
and so a lot i would say like two-thirds
of it came from optimizing
kind of best practices that we were able

11
00:10:00.000 --> 00:11:00.000
to discover which is like
the more hours per day you're available
the more shows you get which sounds
silly but people don't do it you know um
the
sweet spot on throughput is having 30
minute time slots even if it's an hour
long
session having the ability to choose on
30 minute time slots gave you more we
actually thought it was 15 and we would
get more people booked but then they
would overlap so there'd be more gaps so
we'd actually have fewer people able to
show up because of the inefficiencies
and scheduling so having it on a perfect
30 minute cadence allows people to have
more so ideally you'd have as many time
slots 30 minutes a day it could be hour
it could be whatever
and you'd want it to be seven days a
week ideally and um just as a side note
like with one of our companies we
actually just all we did was change the
way they were scheduling and we
increased sales by 50
wow
and so it's like it's just a thou you
know 100 gold and bbs that you apply to
a business to make it grow and so i'm
really fortunate that we had that for
the allen um but yeah with the sequences
is you know uh what's the intonation of
the of the messages what's the cadence
that we do how quickly do we respond

12
00:11:00.000 --> 00:12:00.000
um how many times do we message somebody
before they show up uh are video images
our videos better our image is better
should we keep it pure tech should we
send a map link
um and you know how many is the right
amount what's the how many is the right
amount before you bug the [ __ ] out of
somebody they don't show up
and so it's really just testing all
those different variables and just using
data to tell tell the story and then
just optimizing towards it
and in hindsight you're glad you did the
software company or was it like a huge
[ __ ] hassle okay i am incredibly
grateful that i did it for how much i
learned because i've i apply everything
we learned in the software companies to
every other company that we use
because like i didn't i would say i
didn't understand customer success
and the quant side behind success and
ltv and things like that until we got
into the software game
um but in terms of
my reward on that business is delayed
because it really depends on how the
strategic
roles you know rolls it into their into
their company and that's going to be
delayed for another five years so i mean
in terms of when i see the the fruit of

13
00:12:00.000 --> 00:13:00.000
that they had 4 000 businesses on their
platform we had i think like 500 so you
know they're just
plugging that into all their whole
distribution network
so as far as where you go after that you
sold the companies and then you started
acquisition.com which is
your
essentially like big mega corp that's
going to hold a portfolio of minority
stakes and other yep companies that have
you know
startups or whatever that have three
million a year or more in annual revenue
up to a certain limit and you try and
grow them from three to
fifty or a hundred or like what is the
general range again and
by the way acquisition.com is it a c
corp and it holds llc's or no it's an
llc um actually um but i have we have
gone i'm actually looking at anyways not
to get into legal jargon um but uh it is
currently an llc and uh it holds llc's i
think we have a couple s cars but it it
does it does have interest in llcs or

14
00:13:00.000 --> 00:14:00.000
that's that's the way it's structured
right now so uh deal size you know the
smallest companies will take on is doing
250 000 a month the biggest company we
have right now yesterday did 320 000 so
like there's a range you know what i
mean in terms of of size of company um
so we take them you know i would say
where we feel very comfortable is going
from like three to fifty um
that that feels very good to us um you
know going beyond that the entire
portfolio does over over that amount and
i told you that company specifically but
they're not you know they're not doing
300 000 every day they're probably
closer 200 a day
right now and so you know that's like a
six million dollar a month company um
i don't know even what is that 72
whatever yeah so
uh yeah so we feel we feel good in that
range which i would consider low mid
market
okay and is there like a net profit
target you shoot for too when it comes
to like i know you in general you talk
about three million annual revenue is
like your minimum you know if you're
under that it's kind of like
that's the ideal minimum scenario but

15
00:14:00.000 --> 00:15:00.000
net profit like what do you i know these
are e-learning companies so the margin
i'm assuming is a lot
higher
so is there like a target you shoot for
in general
yeah the minimum so it's three million
with a million bucks in profit is kind
of like the the minimum that we start
with but like i'm less picky on how much
margin they have coming in because we
know what we know what we're gonna do to
to move it you know what i mean so it's
like i'd rather have
all the the other things in place so
that they have the potential you know
they like well at the end of the day
we're looking for an entrepreneur who's
who's got you know unpeaceable character
sincere candor and competitive greatness
we want to see a marketplace where we
see the potential to provide lots of
value to and we want to see depth of
experience in their ability to fulfill
on those promises and so a lot of times
people are you know when i see somebody
who's like hey here's how i made 10k a
month with an agency thing and they
never scale their agency past 10k a
month there's very limited value that
they're going to provide the avatars
they never really like did it and i
think a big part of why you know jim
lunch was so successful is that like we

16
00:15:00.000 --> 00:16:00.000
always knew what the next like 10 steps
were because we didn't you know and if
you've ever had this from like a mentor
perspective
i i i used to think i had heard when i
was coming up that you should have
somebody who's only like one or two
steps ahead of you because you know it's
been more recent for them blah blah blah
but i would say like the more i've had
some weather you know or some time under
the belt the more i prefer to have
people who are a few steps further ahead
because if you take two steps ahead and
then you realize that you should you
have to take 10 steps backwards because
you did everything wrong that sucks and
i think that that's a lot of the advice
that's given up out there today which is
why i made the youtube channel to begin
with um so we look for the depth of
experience so that we can figure out a
way to have to create a premium brand
that can command higher profits our
prices and translate to higher profits
but to answer the original question
which is what kind of uh profit we're
looking for with the companies or what
we think we can get to um i'd say the
most profitable we have right now is
about 60 you know 60 net margins um
jesus i would say we yeah usually we
target around like 40.
so like when these companies are in
growth mode though too if they're all
llc's with flow through taxation

17
00:16:00.000 --> 00:17:00.000
structures and they have 60 net margin
or 30
does that mean that you and layla just
take that hit personally because it
flows right up to you and you're like i
don't know how much active distributions
you take from them as they're growing
presumably
i don't know if it's is it like just
enough to offset your tax burden or like
how does that play in because i'm
thinking you have no active income from
cash cow companies like a gym launch
anymore so now i have these llc's under
me all like
siphoning up net profit that i'm
responsible for but no other income
other than my you know yeah
so these businesses are much more like
you know the berkshire hathaway
businesses they are cash cows and they
and we optimize for net free cash flow
yeah um obviously we want to grow the
companies but because of the nature of
the companies that we choose or that we
work with there's virtually no capex so
there's no capital expenses that we have
to reinvest to grow the businesses so we
don't have to buy new inventory we don't
have to buy any machinery we don't have

18
00:17:00.000 --> 00:18:00.000
to buy really anything the only thing we
have to spend more money on is is talent
but anything that's in this type of
business the talent is getting amplified
by the fact that they have some sort of
digital products or services or tech
enabled services that enable us to get
10 times more for that person anyway so
anytime we're adding somebody we're
getting 10 times the return to begin
with and you know to start with so they
can cash flow as they grow very
well
okay so is there like do you take
distributions at the early stage to
offset your tax burden essentially and
just yeah yeah we take distributions
like owners would okay cool and as far
as like like i know you've mentioned you
take on e-learning companies preferably
because that's kind of like your bread
and butter
like for me prior to seeing gym launch
i my experience of seeing e-learning was
stuff like
alex becker how to make money online
stuff like that and you know those like
big master classes of how to like start
a shopify store or like whatever
that was my concept of e-learning modern

19
00:18:00.000 --> 00:19:00.000
and then i also saw some of those like i
don't know i think there's like
masterclass.com or they have some expert
teach you how to like play the [ __ ]
piano or like whatever they're an expert
at like what do you guys
i've heard you mention hair salon as an
example of how to scale a hair salon i
feel like like what is this chiropractor
yeah
i mean was it just like spinning gym
launch into
each different type of business
essentially or like
so i would say that there's three i've
never actually talked about this so this
is fun so um i would say there's three
subcategories within like education so
you've got education for a specific
skill that would be like violin or
whatever right yeah i would say there's
uh mass-market education around business
or income generating skills so i would
say non-income non-income skills which
would be like a b2c consumer uh
education thing uh and then there's uh b
i would say like b to b to c which is
kind of like biz op uh how to make money
doing something um and then there's i
would say uh
kind of niche down expertise which are
more like improvement offers so it's you

20
00:19:00.000 --> 00:20:00.000
already are a wholesaler you already are
a
auto mechanic you already are a hair
stylist you already are a massage
therapist whatever it is and if you just
do these 22 things you can make five
times more money right and
uh there are advantages and
disadvantages to each of those we have
all three of those types within the
portfolio
i think that a lot of reason that the
space so right now the space is getting
more i would say institutional attention
i mean it's it's super young still
um
because they are seeing the tremendous
amount of cash flow
and scale that these companies are
achieving it's just not it just hasn't
been it's still wild wild west it's
still early days and i think that
you know
the demand for skills is not going
anywhere and i think as formal education
is
has failed many people in their desire
to you know have skills that can equip
them to make money um these things
aren't going away and so our bet is on
the fact that the players who are who
are the best at their

21
00:20:00.000 --> 00:21:00.000
specific skills uh in terms of teaching
and the monetization model that they
wrap around it are going to be i think
it is a winner take all model
which is if you are the best math
teacher the best math teacher should
teach math to everyone and with
technology they can and so that's kind
of how we're structuring what we're
making our bets on
so like hypothetically if i'm a
hair salon or something and i'm looking
to like teach people how to scale their
business
i was i assume if i'm looking for a
business for example locally i'm gonna
go i'm probably still gonna go to google
and be like
you know sushi place near me or hair
salon near me like do you stay up to
date on like google algorithm changes
yourself so then when you come in you
can be like these are the current seo
strategies or this is the grey hat
tactics that you want to be aware of
like like how do you
kind of like finagle that because
obviously you probably don't have the
time to stay on top of that [ __ ] too
so no no of course not um no i don't
have that uh and so

22
00:21:00.000 --> 00:22:00.000
so i'll kind of walk through the process
so if we're taking a company on who's at
3 million usually they have some level
of product market fit which is why 3
million is to cut off like if they're
below 3 million like they're still kind
of figuring their stuff out they still
don't even have a core team yet so
usually at 3 million 250 a month you're
doing you know you got a core team of
like 10 to 20-ish
people you know you have a a consistent
acquisition channel it might not be as
high as you want but it's consistent
it's reliable right you're getting
customers you know month and month out
right and so usually at that point this
is where i think a lot of people at that
level will make the mistake of saying oh
i need to just do more marketing um and
that's usually not the answer usually
they need to increase their lifetime
value per customer so we need to you
know stop losing people in the back end
get the the customer experience we need
to be make sure that we're tracking the
right metrics get you know customer
segmentation in place so we can match
you know the product suite to the
desires the customer and make sure that
we're selling the right things to the
right people um and so we you know pair
all that things in you know we might
have to add some element of recurring to
the to the business we might peel off
things that are consumption versus uh
you know continuous and then price
accordingly to that and so we'll do
those things first and a lot of times we
need to hire a handful of people who

23
00:22:00.000 --> 00:23:00.000
have experience in those arenas and then
put them into the business right this is
a big part of formalizing it and so that
that alone
without even increasing acquisition will
usually do the first triple so most
times we can triple the first business
without even without even doing anything
to the acquisition the second triple and
we think in triple so it's like first
triple is typically uh going to be the
back end the second triple will be
adding channels of acquisition and so
um now at this point because we have
fixed the back end we have significantly
more gross profit per customer that
allows us to go
uh go to these other channels far more
profitably and acquire customers and so
we have more room to make mistakes we
have cash flow to fund the growth all
that kind of stuff
and so if if we were helping
uh hair salons
i'm not going to help hair salons i'm
taking somebody who already is the
expert in that so they're up to date on
the google blah blah blah you know the
map stack and you know the best referral
strategies and how to partner with uh
you know chiropractors send you hair to
send your hair clients um and you know
paid ads and whatever right

24
00:23:00.000 --> 00:24:00.000
so is this the sort of thing where you
would have
like if you had facebook ads whatever it
is of your acquisition channel you're
trying to drive them into like a click
funnel where you then teach them how to
scale their business via expert that's
at the top with
like that's the
the whatever business you have is like
the gym launcher but for like i feel
like i'm just trying to make sure i
understand completely yeah so so with
this hairstylist example right so if
there's a if there's a hair stylist who
let's say her name's sarah and she's
making four grand a month and that's her
life right and so she sees an ad
for you know tammy who's making 20 000 a
month cutting hair too and she's like
well hot darn i'd like to make twenty
thousand dollars a month instead of four
and so you know she clicks the thing she
watches the video that's like okay it's
because they're they're doing way more
you know extensions and colors than they
are cuts because that's more profitable
per hour that makes sense but how do i
sell that stuff well you can schedule a
call and they can walk you through cool
okay so she goes walks through it she
says you know what it makes sense for me
to spend five thousand dollars which is
one month to get to 20 000 every month

25
00:24:00.000 --> 00:25:00.000
the exchange makes sense cool so then
they would walk her through the strategy
which is like okay from here on out
here's how you schedule your time slots
here's the scripts that you use to get
new customers when you make your
instagram posts this is how you do it
when you set up your mac step this is
how you do it when you get your
referrals here's the referral script
here's you know what i mean it said you
go through all these things and then
piece by piece they implement each of
those kind of golden bb's into the
business and then the business
incrementally grows
okay
okay i think i understand so it's
basically taking existing experts in
their space we're trying to teach but
teaching them how to scale their
teaching
essentially
correct it's an education we're an
education company okay so it is it's
almost similar to like
the alex becker of like every random
niche of you know hair salon whatever
whatever niche it is okay
got it so i can see how that would be
like exceptionally profitable i've
considered that model before back in the
day when i was trying to look at ways to
make money but

26
00:25:00.000 --> 00:26:00.000
like i don't know have you ever
considered that yourself doing master
classes on entrepreneurship or is that
just like
well i have a youtube channel that's my
master class and i don't need to charge
for it yeah that was why i identified
with your stuff so much is because it
was the first time i've seen somebody
not try to push you
into one of those things it was just
like here's all the [ __ ] info
take from that way you will sort of
thing so yeah yeah
it's awesome it's awesome dude yeah
really so like as far as when you first
come in and find holes to fill
and
like you specifically
what do you have like a meeting every
week with each company or portfolio or
like how do you allocate your time to
filling those holes
well we have a team so it's not just us
so you know we we get people from you
know harvard business school and private
equity groups who are growing portfolio
companies and we bring them in so they
already have tons of trench experience
from what they're doing beforehand so
you know one of our big things is we try
and hire people who've already won an

27
00:26:00.000 --> 00:27:00.000
olympic gold not who are who say they
can win an olympic gold so we want you
to who have already won a gold medal and
just say cool just run that race here
and so then they just can recreate the
things that they already know now we
already have our playbooks too for
specifically the size of company and so
the nice thing is that a lot of
businesses
ha often have especially because we're
so specific in the types of business
that we that we work with
they have the same problems the same
points and so
you know just creating the paint by
numbers or the money by numbers
playbooks were like okay here's how we
remove the founder from the marketing
here's how we set up the customer
segmentation surveys here's how we you
know create the creative cadence for
organic here's the creative cadence for
paid ads here's how we pick our
messaging buckets on the marketing
perspective here's how we do compliance
so we can actually make sure that we're
not being scammy where does right and
that would just be like marketing for
example same thing with sales it's like
all right here's our speed to contact
this is how we track you know
utilization per rep this is how we do
our call reviews this is what our uh you
know monthly cadence needs to be for the
sales director this is how they these

28
00:27:00.000 --> 00:28:00.000
are the ads the sales director needs to
run to get the best sales guys this is
the interview cadence like it's just
it's just business it's just like this
is how you build it you know um and so
in terms of how we allocate it we look
at the whole business and we say just
where's the biggest lever here because
all those things need to get done
between now and 100 but
which of those things need to be done
first and so a lot of times we only pick
three big rocks that we're going to
focus on and that'll probably be the
first year in making sure that we truly
execute those good things because a lot
of times if you think about probably
even you know your business or your
businesses
you're like if i just did one of these
things for this business by the end of
the year we'd triple and so it's really
being ruthless in our prioritization
and just keeping the founders and the
leadership teams focused on that one
priority because if you get that right
you can usually mess up a ton of other
stuff and still turn out okay
right so like obviously you have a lot
of people
on your team who you've vetted and had
head hunted or whatever it is who are
capable of fulfilling these things on
your behalf so where you plug in

29
00:28:00.000 --> 00:29:00.000
yourself obviously right now
a big roi on your time is building
social presence to then establish
you know the perspective that you're the
guy to go to to grow these three to
whatever million dollar companies to the
next level
as far as how you plug in directly with
the portfolio companies though if you
have this team under you that is able to
facilitate are you oftentimes
trying to find more
people that are of that same caliber of
your team and you're like interviewing
people yourself or how do you plug in
with the portfolio companies exactly
it's a combination you know i mean it's
it's what constraint are the majority of
them dealing with that we if for some
reason we cannot handle which most times
we can but we might say okay we're you
know laila and i are spending a lot of
time on this particular thing uh so i
think we need somebody who's gonna
handle this particular slice right so i
mean the benefit so most businesses go
from generalist to specialists over time
right so it's like it's harder to find
the jack-of-all-trades in the beginning
which is usually why the owner does a

30
00:29:00.000 --> 00:30:00.000
lot of that in the beginning and then
over time you know we replace the you
know the the head hunting function which
is something that you know we replace if
we replace the you know the consecration
function we create the crease replace
the the sales directing function like
all of these you know all these pieces
and then in terms of how we interface
with them directly they they very much
are
treated the same way the companies that
i owned before selling are traded which
is we share them like we own them quick
side tangent to bring you a note from
one of our sponsors what am i saying
side tangent
interruption what am i saying i don't
know this is seed daily synbiotic this
is what i use on a daily basis as my gut
support supplement essentially so for me
i've been spending a bunch of money on
iherb amazon buying a bunch of different
formulas um strains random stuff and
kind of just uh you know taking shots in
the dark frankly don't really understand
the gut microbiome it's an area of
research that heavily interests me but i
just don't understand it very much so i
try to educate myself by watching um
podcasts uh science-based creators

31
00:30:00.000 --> 00:31:00.000
actual like people in the trenches who
do this stuff and like look into the gut
microbiome the gut brain axis
interactions and try and learn more
about it and it seemed like this formula
was the one that had the most
reinforcing data behind from a human
evidence perspective had the most people
i respected in the industry talking
about it and actually saying that they
used it and this included people who
weren't just sponsored by the product
too people who actually had digestive
issues that were using it people who had
crohn's for example that were looking
for any kind of support they could get
of their gut um so for me that was
enough to kind of get on board and put
my own money down and see you know what
it's all about fortunately since then
they've actually sponsored the channel
which is super cool anytime there's an
alignment like that you know i get super
thrilled about it and obviously if you
guys are looking to optimize yourselves
you know in the same way i am you know
i'm always trying to eke out extra
performance from a mental clarity
standpoint from a digestive health
standpoint whatever it is um especially
time efficiency standpoint too so this
is something i use as a reinforcement

32
00:31:00.000 --> 00:32:00.000
essentially my digestive health got
barrier integrity got immune function
apparently has interactions with
cardiovascular health dermatological
health as well and micronutrient
synthesis which is obviously you know of
high interest to a lot of individuals
here so for me again this is my like
insurance policy of sorts for my gut and
if you want to support me you know you
can check it out too it's linked in the
description below and you can save 15
off your first month's supply of seeds
dso on daily synbiotic by using code
derrick at checkout thank you to seed
for sponsoring today's video and back to
our regularly scheduled programming so
you know i i do everything that i would
do for gym launch i do everything that i
would have done for prestige labs while
being the owner which means that like
i'm i'm not going to write ad copy
because it's not a good use of anyone's
time because if i write the ad copy the
business dependent on me right but if i
can usually help make or guide strategic
decisions then it absolutely is worth
the time and so for us you know we have
we review all the companies data monthly
which is exactly we do when we own all
the companies we review the data monthly
in terms of their financials we are
interacting with them usually on a daily

33
00:32:00.000 --> 00:33:00.000
or semi-daily basis from uh from like a
messaging back and forth uh perspective
we have open office hours
all the time during the week so that we
can hop on to soft you know specific
issues um you know for the portfolio
companies um and at the end of the day
like we just make ourselves available
like the
as much as it appears that i am
extremely active on social um a big part
of that is because uh caleb and the team
make me look a lot cooler than i am uh
and so the vast majority of my time i'd
say
would conservatively 80 realistically 90
of my time is spent growing growing at
like the portfolio companies because
they grow i make more money so it's like
i don't need more companies like
zuckerberg didn't need a side hustle you
know what i mean like i can just get
a handful of companies that are really
good and that's that's the berkshire
hathaway you know way it's just find
really good companies and let them grab
so how many do you have at this point
under
acquisition.com and then how many hours
do you spend on each one kind of per day

34
00:33:00.000 --> 00:34:00.000
we spend eight and then per day it
varies dramatically by what season the
business is in
and you have like a consolidated
communication
medium like at this point i have so many
[ __ ] threads dude there's like a
slack there's a an upwork there's you
know group threads there's text there's
signal there's whatsapp and i'm like
holy god damn
[ __ ] dude yeah like so everybody
everyone plays our play our way and
that's part of coming onto
acquisition.com so everyone uses our
tech stack for for crm because it pipes
into our tech stack so we can see the
data and it gets pushed in real time so
we don't waste all this time aggregating
cleaning data which is a pain in the
butt so that's a huge one that gets
that's streamlined right off the bat uh
the second thing is from a communication
standpoint everyone's on slack and so
that's it everyone's on slack that's the
way it works in terms of communication
so in terms of systems we only use three
you know we use zoom we use slack and we
use hubspot that's it
huh never used hubspot yeah you'd

35
00:34:00.000 --> 00:35:00.000
recommend it presumably okay yeah it's i
mean honestly it it's more it's more
important you have deep expertise within
a crm than i think the particular crm
you choose like a massive company you
know massive companies use zoho massive
companies use salesforce massive
companies hubspot
it's i think it's less important which
one you choose more so that you are
really good at the one that you choose
yeah yeah as long as you have everything
consolidated and you don't go insane in
the process
so for you if you have you guys have
eight companies you said under
acquisition was that before you started
like your really aggressive rise on
social media
was that at zero or were you already
how i had um
i had
[Music]
three or four i can't remember what
timing was it was either three or four
and how many more
applicants do you have now relative to
that
uh i mean i didn't even really have i
mean the applicants before were just

36
00:35:00.000 --> 00:36:00.000
people who reached out to me that you
know from
from the sale or just from no you know
industry stuff whatever they had heard
of what we had done um
oh you know what it's four so we had
four we had four we've only taken four
more since since this rapid rise okay um
but the thing is is it's kind of what
i'm saying i mean our quote acceptance
rate right now is point two percent of
companies that
that apply um and it and it's just
because
we're not in a rush there's no
there's no finish to the race it's much
more like do we think that we can add a
lot of value to these businesses and if
we don't we just say like hey here's
what we would do not sure if it's a
perfect fit we should the best you know
what i mean and
that's why we make all the free stuff so
like hey like go use all that if you
know if it's not a fit and how many
companies do do you actually end up on a
call with to screen versus because if
you have a point two percent acceptance
rate or whatever
i talked to every one of them
really
no god no
i couldn't i just yeah that's what i was
i was thinking that's [ __ ] impossible

37
00:36:00.000 --> 00:37:00.000
even if i even if i took one minute per
a it would it wouldn't make sense um so
do you have like one c-suite guy who
just like has a front line he's like the
gates to get through to your layla sort
of thing yeah so hubspot has automated
rules in terms of decision making so
there's lots of black and white metrics
that we can apply for decision making to
the applications that come in and
that'll automatically screen you know
probably 80 of them um and then from
there the twenty percent that's
remaining he will probably
visually screen another twenty percent
out so probably get it down to six sorry
another eighty percent so there are four
percent that are left and then from
there he'll probably talk to those four
percent
and then um
of that four percent he'll probably push
one percent um to like a second call um
and then at that point we'd kind of talk
about um you know it's it's a it's not a
it's not a sales process you know i mean
it's a 90-day process we do diligence on
the company we talk to their entire
leadership team
uh we we want to get a good we want to

38
00:37:00.000 --> 00:38:00.000
get a pulse of the company because
otherwise we can't figure out what value
we can provide like if you don't mean
like if i don't know anything about the
company then how am i going to say
here's all the holes i can fill when
they might not have those holes so it's
only when we
very clearly understand all these things
together and it checks every box that we
then move forward and that's kind of the
i mean right now the the average
portfolio company that we have triples
their profit within the first 12 months
wow so like it's if and to be fair we we
pick a tiny itty-bitty sliver of a box
which is if you fit if you can sing the
a abc backwards in arabic you know
sitting on on one foot and rubbing your
head and patting your belly um you know
and you're a three million dollar plus
education entrepreneur uh you know in a
niche or you know teaches an income
skill um
then then you're you know we're your
huckleberry um and that's just because i
looked at the people who have really
good um
uh private equity funds and they niched
out for good reason because you learn a
ton and the more times we do it the
better we get at it uh and so then we
get the more paid by numbers this

39
00:38:00.000 --> 00:39:00.000
becomes so we can just say with more and
more confidence and increase certainty
and faster decisions that we can get
some from point a to point b
so you mentioned you have screening
criteria that screens out 80 of people
in hubspot
but
like on your on your website for example
you put in your name your website email
phone number annual revenue annual
profit book a call
when you when you book a call like how
do you get screened above and beyond
like couldn't do you have a bunch of
people rely on this form and then how do
you
well the button says book a call
because it converts better than submit
but the second second screen there if
you were to submit you know click book a
call in order to book a call you have to
fill out the company intake form which
is like 20 questions okay so that's the
next thing so there's 20 questions there
um that are much more in depth which is
like how many acquisition channels do
you have what percentage are they
attributed to you know what is your
churn right now what's average price how
many you know what's your sales velocity
how many units per month are you selling
and so we get a much better
uh you know where you incorporate it out
of how many founders do you have what's
the you know

40
00:39:00.000 --> 00:40:00.000
all those types of questions that we
would want to um normally figure out
and those are usually questions that we
would ask on a phone call we just asked
them beforehand and then from there
we can get a really good pulse on the
company because if we look at somebody's
website
and you know on and we know what
platforms are advertising on we can look
at their advertising which is what we'll
do we'll go look at the advertising
we'll look at the stuff
but oftentimes a lot of people apply and
don't meet the black and white metrics
you know they're like i'm gonna be at
three million or like well you know yeah
it's like yeah yeah i mean yeah it's
it's not and i and i and i love the
community and i and i and i root for
everybody to do it um but it's just
because of the nature of it's just it's
a time constraint you know what i mean
so
there's a reason warren buffett has a
hard time allocating his capital it's
because there's not that many 100
billion fish that he can spend his money
on like he could double his money if he
bought million dollar things but then he
would still have 149 billion 999
199 million left to spend he just

41
00:40:00.000 --> 00:41:00.000
couldn't do it time-wise so you know so
with the current
market and stuff crashing you know
crypto's down stock market's down
presumably you're pretty thrilled that
you are liquid right now like i i think
you if i recall correctly you're like
out of everything right now right like
just sitting on okay so you have nothing
you time that pretty well obviously so
so for you being like future
minded about what your overall
vision is for acquisition.com
and knowing that your roi for an
investment on a three million dollar
annual revenue company or whatever
is exponentially better than at best a
10 return on a good year in the stock
market like are you at a point where
you're just like [ __ ] real estate stock
crypto none of it i can just invest in
myself in my own
like uh you know acquisition structure
yeah i mean that's a i mean sure we own
a few buildings and things like that but

42
00:41:00.000 --> 00:42:00.000
um
acquisition.com is 100 the wealth
vehicle and it's i mean you probably
know this it's just um
all the all the people that i see that
are the wealthiest have found
games where they can create
unfair advantages you know what i mean
where they have something that's in
their favor
and so you know we the nice thing with
acquisition.com is that we spent 12 to
18 months
really thinking through how we wanted to
build it the structure just everything
uh to put to put into place whereas
every other company up to this point has
been
a little bit more reactive you know it's
been like oh there's you know this is
what everybody wants let's go make it
right um this one was like what do we
want um because the people that are the
wealthiest that i know
have things that took them 20 30 40
years to build
and so i was like well if this thing's
going to be a billion dollars plus then
it's going to take time you know what i
mean we're not tech so
it's going to it's you know we're not
going to
it's not going to be you know a single
tech explosion or some adoption of
something and so we have to be really
methodical about how we approach it

43
00:42:00.000 --> 00:43:00.000
and so it's probably going to take 10
years or 20 years which means that i and
layla both have to enjoy it um it has to
be something that we find meaningful um
and that we can that we are excited to
do every day and that we don't that we
continue to feel it's challenged and
stimulated from because the other thing
is i know that i can i can do any
business for three to five years but i
know at that point i start to get itchy
um
which my track urger shows um i started
to get you and so with this business
part of the reason we designed it this
way is that i can go well in on these
businesses we get exposed to different
industries and if i want to say let's
say i see an opportunity in um
[Music]
uh
shoots
you know sales recruiting whatever
i can say instead of me starting a sales
academy i can say well why don't i go
find a sales academy that thinks awesome
and then get exposure to that
opportunity and so that way i can do all
the stuff that i want to do and help
that company kind of execute those
things and then that way i still stay
focused on my main thing which is
acquisition.com without being distracted
but i get to participate in kind of some

44
00:43:00.000 --> 00:44:00.000
of the upside
um and when you go for minority stake
like
obviously this varies on situation to
situation but there's is there like a
minimum of the amount of equity you look
for to have enough skin in the game for
it to be worthwhile
yeah so it's a it's a really good
question by the way i'm loving this
interview by just letting you know this
is great i love to talk about this stuff
um
so
it has to be enough that we care but it
can't be so much that they stop caring
so that's the balance there's like a
fine line there right and so we found
that to be like 20 to 30 percent um is
enough that we are really we're
meaningfully invested and the founder is
still meaningfully vested in the outcome
so everybody is just charging full-on uh
you know towards towards the goal
okay and that's kind of sweet spot i
feel like i probably know the answer
because you have enough of an
infrastructure team-wise to kind of like
carry out the objectives you have
seemingly but is there like you have
eight companies under you right now is
there like
some capacity limit where and obviously

45
00:44:00.000 --> 00:45:00.000
you haven't got there so maybe you can't
put like a hard stop on this but is
there like a breaking point where it's
like holy [ __ ] we need more team to
support the amount of companies we want
to have under us right now
like for sure for sure yeah we would we
we run a pod structure so you know we'll
have a handful of people who are
specialists over a specific pod because
even if you're doing a weekly meeting
with each one and you've like really
really dialed it in to a point where
you're like super just basic oversight
mode of them i feel like that still
adds up to where you're like in a
monthly oversight meeting with like 20
companies or something
it's like you're doing a big [ __ ]
meeting like every day to a point where
you have no idea what's going on with
anything essentially well it depends on
what the type of the meeting is right
and so if it's you know if
if we have a cadence to check in on how
they're doing on a playbook that i'm not
required for that like the playbook's
documented this is what we need to
implement here are the ads to get the
person in place you know to run this
play etc right

46
00:45:00.000 --> 00:46:00.000
from a monthly perspective me reviewing
the numbers we already cleaned the data
on our side so that we can see it
just the key the key numbers that we
care about uh because at the end i'm
sure like when you read financials for
your own company it's like i'm not
looking at everything i'm looking at the
handful of things that matter to me yeah
um and so i'm looking at every cash flow
i'm looking at growth i'm looking at
sales units um i'm looking conversion
numbers and that's about it you know
what i mean that's and you know the turn
is kind of factors in for all the
customer lifetime value stuff um
in terms of
to circle back to the original question
which is like is there a cap there is a
cap for the current capacity but right
now we have more employees than we have
portfolio companies for context so this
isn't like uh but again this is the this
is a type of business model where like
um for example apg american pacific
group who's the the private equity fund
that that purchased uh majority shares
and gym launcher prestige uh i think
they have like
13 people you know what i mean um
you know what i mean and so
it's you know berkshire hathaway has 19
employees and they have

47
00:46:00.000 --> 00:47:00.000
500 000 employees through their you know
portfolio companies or whatever it is
some enormous number um and so
i talk a lot about leverage um but like
finding opportunities where your inputs
have the discrepancy between inputs and
outputs is high and so
you know in this business uh the goal
when we were structuring it was like how
can we how can we provide tremendous
value
um to companies without
um without being limited in that way
like you were just like you were saying
yeah
and so that was the goal but for us
because of the nature of how our things
work um we can we can attract talent
that they cannot attract we can have
people work on their company that they
would never have access to and in that
way the only people who'd get access to
those things would be funded companies
and so in a lot of ways we're able to
give entrepreneurs who are bootstrapped
an advantage that they would never
normally have they would never have
access this level of talent
to help them grow their company and then
in so doing
gets such a huge multiple on the equity
appreciation that happens from what when

48
00:47:00.000 --> 00:48:00.000
they start with us is usually
valueless and i don't say that as a
slight but more so just the realities
that if you have a personality version
you know driven brand and you're doing
three million bucks a year a million
bucks in cash flow like there's not a
lot of people are going to want to buy
that from you and let you walk away like
it's just there's the buyer market is
minuscule now if in five years it's
doing 30 million top line you know uh 10
or 12 million in ebitda and you're
completely removed from the face of the
business and it's really become
hairstyle academy rather than you know
sara lee's hairstyle you know secrets or
whatever um that does have enterprise
value and that absolutely can be sold
for 50 80 100 million dollars and so for
us it's like that equity appreciation
for the founder they would
it would be unlikely that they would get
that kind of personal wealth increase
without having just tons of experience
doing it and we can just shorten the
curve
now when it comes to valuations
i've seen drastically different numbers
when it comes to one times revenue three

49
00:48:00.000 --> 00:49:00.000
times ebitda this that and
a lot of times you'll have like an
expert value it and it's like way the
[ __ ] off from what you expected or
like when you're is there a certain
strategy you use where it's like
these companies they're a good
opportunity but their valuation model is
just like way off from yours and if so
how do you kind of like reel them back
into reality
well none of the companies that we're
working with are coming in with the idea
that they're going to like this isn't a
liquidity event for them you don't have
to
presumably some of them want you to put
skin
oh like do you ever have to buy into
companies though or is it more just your
value sometimes but not always okay
sometimes but not always so it again it
just depends because like my payroll is
higher than some of these companies
entire revenue so like the amount of
time if i were to bill hourly for what
we're going to front before we even
receive our first dollar
is usually more than i would put into
the company for the the appropriate
amount of equity and we're purely based
on the fact that we're going to make it

50
00:49:00.000 --> 00:50:00.000
up on the back end
so those companies you do buy into
though
how do you quantify what that buy-in is
like
some sort of calculation that you defer
to
yeah 100 but like it is it's much more
important like
it's not a big deal negotiation point is
my is my thing because like many of them
the cash that they're getting
if they if they get cash yeah is not
material and so it doesn't matter to
them and it doesn't matter to us and to
the point that you said about like
having skin in the game
if a three million dollar company is
doing a million bucks in ebitda right
if if we valued it at a million bucks
let's just say we valued a million
dollars which i don't think anyone would
buy a million dollars but let's just say
we valued a million dollars and i bought
20 which would be 200 grand
does is that's not going to like
change anything in my life and i say
that and i hope that comes off the right
way but it's like that's not going to
get me
that's not skin in the game for me you
know what i mean the skin in the game is
the fact that we can take this thing to
here right and that's what i'm that is
the
that is the thing that drives me not the

51
00:50:00.000 --> 00:51:00.000
200 so like the 200 would mean make no
difference to me and likely this person
if they're making a million dollars a
year it wouldn't make any difference to
them either and so it's that's kind of
where this comes because we're taking
them at this stage at that point i see
even the negotiation process you end up
losing more money just talking about it
than whatever amount you could gain
otherwise
but once you've taken it to 50 million
and you have your guys on your side
saying it's this and you have their guys
on their side who wants to buy your
company saying it's that
do you have like
what is like deferred to
yeah yeah so i want to make sure that
i'm answering the right question so yeah
are you saying
how are these companies valued at exit
or how are these companies valued at
purchasing on our thoughts yeah
i kind of changed the question in the
middle sorry but yeah once you once you
build it up like yes how do you
because that delta can often times be
substantial
oh yeah that's that's the whole i mean
that's that's that's our whole game you
know i mean like the whole game is that
we that we're taking something that

52
00:51:00.000 --> 00:52:00.000
doesn't usually have a lot of intrinsic
value it's usually just a guy or gal
who's got a thing and they're selling it
right but as soon as they stop selling
it money stops so there's not a lot of
reliability to the revenue stream which
is why the value is almost nothing right
if we're doing the example i said so 30
million top line 10 million we'll just
use that as the as the number um
they right now it depends everything
depends on the churn within the business
so how reliable the future
so i would say there's two big pieces
one is how big is the market
and
slash how likely are they to capture the
market
multiply by
how much
are how sticky is the revenue
so if we're gobbling on market share and
it just keeps compounding and stacking
itself because everyone keeps loving the
thing that we sell
then it's going to be tremendously
valuable if it's a much more
transactional
company then we're going to get a much
lower multiple and so i would say you
know the range is huge there i would say
it's probably like 6 to 12

53
00:52:00.000 --> 00:53:00.000
is is kind of the multiple range there
for a company that was doing 10 million
it'd probably be like
you know maybe eight to twelve uh but
again it also will depend on the terms
of the deal so you'd have you know a
certain percentage that'd be rolled in
equity a certain percentage that would
be seller finance certain percentage
that would be you know consulting back
um and then a certain percentage that
would be cash and so you know all those
things added together might be the 8x
but you may be cash portion might only
be five or whatever
so we're talking a multiple of ebitda
right now or even even even
yeah okay for these companies it's going
to be on ebitda
so you're saying a company that has a
net of 10 could be worth like 80 is what
you're saying yeah
okay
if okay if they have if there's a if
there's a story of growth that is
believable that has a high likelihood of
occurring if they have multiple channels
of acquisition if they are not dependent
on the founders face um if they have low
churn or you know lower or negative mrr
um you know high gross margins um you
know low capital expenses like all if

54
00:53:00.000 --> 00:54:00.000
they have all of those things then yes
and i don't know if this is something
you can even disclose so feel free to
you know not answer but when you were
selling gym launch prestige
alan was there like
a number that you thought you should get
versus what they thought they should get
and then you met in the middle and like
what was that range
i think we stole jim lunch for what it
was worth
like a fair evaluation i don't think i
don't think we got i don't think we got
paid
um and i don't think we got destroyed i
think it was a fair value
and because of also the terms of the
deal
we got like i said earlier like it was
an all-cash deal so we we could have so
here i'll tell you a side note so if i
wanted to and our bankers even said this
and i was like i just can't do it
because i would look at myself in the
mirror but they were like if you want to
like jack this value up for like the
story they're like we could paper this
deal to get to 100. like we'll just
we'll just load you up with earn outs
that are like if if jim launch does 100
million in ebitda the year after then
alex gets a 50 million dollar bonus

55
00:54:00.000 --> 00:55:00.000
right like because the likelihood that
happens is zero and if it did happen
they'd be [ __ ] thrilled right and so
then i could say hey guys i sold for 100
million dollars and that would be really
sexy it would also be completely false i
mean it would be true by the letter of
the law but
i would i would not feel legit and so
the number that i shared is the actual
number 100 cash no consulting no earn
out no no
anything um that was the that was the
deal and what were what were the
percentages you guys sold again and the
total 66. we sold 66
of c2 we sold 75 of
the software company okay and then
you retain equity in that and do you
have to be like oversee it with the same
capacity that you do your other
portfolio companies
or like we do though we do but we don't
have to we have zero contractual
obligation i just loved the team and i
would i talked because i mean we spent
six years together so like yeah it's
like it's like hey man i can't help you
anymore for anything that you have cause
like even if it wasn't a company at this

56
00:55:00.000 --> 00:56:00.000
point if they moved to a company that i
didn't own at all i would talk to these
people the exact same amount that i do
but we have no contractual obligation to
do so i do cause i love and what was the
amount again sorry so 66 and 70
yeah 46 total or what was it no that was
just for the that was just for jim
launcher prestige okay and then alan was
what again
uh i
that one's on india okay sorry yeah and
then
the thing i def and that's standard
normally you ha normally it's standard
boilerplate to have an nda for the total
amount of the agreement um
but i knew i was gonna build
acquisition.com and so i was specific
upfront i was like i would like to be
able to
to say this partially to prove the point
that you had which is like these
companies are sellable and they do have
value if you build them the right way
right
and as far as like strategy and tactics
for
taxation on that exit
i know you're
i i had taxes like a separate topic for
later in the conversation but i feel
like i should just jump to it now
because it's relevant but

57
00:56:00.000 --> 00:57:00.000
like you're your strategy on it i've
heard you say multiple times how you've
taken tons of
you know consultations and this and that
trying to learn about all of the
different ways to save on tax and then
in hindsight you're like [ __ ] it i wish
i just like paid my [ __ ] tax and
didn't even try any of this weird exotic
stuff
with corporate exits do you feel the
same or how did you guys structure that
okay yeah i feel the same i mean there
is a clear tax structure that we could
have done to pay no taxes um it's it's
it's called like a cascading um
disregarded trust uh structure says
basically there's a five million dollar
exemption per
purchase regarded trust and you have to
have a different person who is in charge
of each other who is a benefactor of
each of the trusts it also gets around a
state tax later if you're going to you
know donate not donate pass it on to
your kids or whatever and so
um you know we could have basically done
a you basically multiply the amount of
money that you have times 5 million or
divided by 5 million and that's how many
trusts you have to set up um with
different benefactors in each of them

58
00:57:00.000 --> 00:58:00.000
and you have to trust whoever you're
putting as the benefactor um and all of
them and if you do it that way and you
wait 36 months so that it can't be on
wow like there's a whole bunch of hair
right
and so i was like
dude this isn't how i'm getting to a
billion like i'm not going to save
20 like the 20 percent here is not going
to get me too but now some people were
like hey pennies that up and they do i
agree with you but in terms of like
there's one thing because i could see
both stories because like here's story
one alex gets to a billion and didn't
pay any taxes
and did a bunch of stuff to get there
the story that i would say there and i
would defend is like hey i played by the
rules of the game
and don't you everybody should play by
the rules of the game and be good at it
and i don't think there's anything wrong
with that um on the flip side of that
there's like we got to a billion and we
played full boat the whole time
it's because we love the game yeah
so and i think that that's and again not
to say like
do i you know do i expense a dinner for
going out sure you don't mean whatever
but is that going to make a major
difference in my taxes no

59
00:58:00.000 --> 00:59:00.000
so
um you know what i mean uh but big
picture stuff like if anything's gray i
just
if it's gray i just i've just over time
i've just stopped that's not how the
richest people do it the richest people
do it by by equity appreciation over
time they're building businesses and
they get a multiple in those businesses
that's how they that's they do it and
that's all tax-free
yeah it's all tax-free when you
expensive i used dinner by the way it
just popped into my head do you
literally take a picture of your receipt
and like categorize it when you get home
okay i don't but i mean the team does
yeah so you just hand it to your team
when you get home or like how's that i
take a picture and i send it to billy
yeah okay got it all right
and you always take pictures you can't
just go buy a credit card statement does
that not work no i take pictures because
you want to show it's itemized um
that way it's not like it's by the monk
damn
for a while i was doing that and i was
like this is a [ __ ] hassle and then i
started just going by credit card
statements and now i realize i should

60
00:59:00.000 --> 01:00:00.000
probably have been taking pictures the
whole time so well the thing is like if
i'm signing it with my hand my phone's
right there so i can just take the
picture it's not too bad and i just
literally just text it in canada you
don't sign anything you just like get
your your cards yeah it was weird
because i was in the states recently for
a business trip and then i totally
forgot that they don't have uh
the card scanners that just like auto
charge you they make you like sign a
receipt still and like add the tip and
stuff here it's just like they give you
a machine you type in the tip and then
okay and then it that's it
yeah
there's some places that do it here now
but it's still mostly solid yeah okay
as far as
the uh challenging aspects of scaling
companies now for you that you're in
this position with acquisition.com
do you find the challenges are largely
the same that faced
the companies you built like gym launch
and stuff or is it like a whole new
unique
set of scaling problems where it's like
you know head hunting enough people that

61
01:00:00.000 --> 01:01:00.000
are on your team that are going to carry
out
the work at the quality you need and
then overseeing that team to make sure
their quality is spot on or like what
are your big challenges now
like existing problems that you're like
actually dealing with
finding good people is always a constant
you know i mean whether when we had gym
launch and prestige labs and acquisition
or the portfolio companies you know and
i would say that that's the thing that
we
invest the most time in is how do it
because the thing is is like
from the from the private equity
perspective it's like you can buy or you
build that's kind of like the age-old
thing it's like do we want to buy this
thing or do we want to build it
ourselves and i think if you chunk down
one level within a company you can buy
or you can build so you can buy the
talent or you can train people who don't
have the talent to have the talent and
so we tend to be buyers on the micro
level and builders on the macro level
that make sense so like with companies i
mean obviously we're buying into these
companies but the the vast majority of
the equity value we're building rather
than buying right so we're not doing

62
01:01:00.000 --> 01:02:00.000
lots of roll-ups we're actually
organically growing these businesses but
on a micro level within the businesses
we prefer to find i mean if there's the
opportunity to promote with from within
we'll obviously do that
but a lot of times
the companies that we're working with
the founder is the most experienced
person in the business and
the i it's my belief that a business is
limited by the total intellectual
capital of the entire company and if
every person has a subset of the
knowledge of the founder then it means
one man is the cap of the business and
that is typically what happens when
they're at three five 10 million
whereas when you see a 30 million
company usually there's three or four
people that
all know a ton of stuff about different
things and that's why they are that big
and so i see it as like a christmas tree
where it's like the bigger the the top
amount of knowledge is the wider the
base is the bigger the company grows
okay as far as so we spend all our time
up there
right now when you find these people
it's a lot harder to find
really good like c-suite level employees

63
01:02:00.000 --> 01:03:00.000
and whatnot and executives than
i i don't know what if it used to be
better in terms of talent pool because
i'm just kind of like into this for the
first time now of hiring like really
high level people
and
oftentimes trying to figure out how to
compensate somebody who's like an a
player
it's
very very
uncharted waters oftentimes it's like
how do you determine somebody for like
i'm like an influencer sort of who runs
a company that does like very much
disproportionate traffic and has like a
unique kind of product offering or
services and then bringing in people who
can reflect the quality of work i need
and oversee like 50 people and do this
and do that and it's like where do i
type in on google like what this guy
gets paid like how do you determine
pay structures for top guys yeah guys
it's come to my attention that some
people are not
manscaping

64
01:03:00.000 --> 01:04:00.000
disgusting pubes hairy backs
butt crack hair
what are you doing you got to take care
of that [ __ ] this is where support for
today's show comes in manscaped the best
in males below the waist grooming this
is
the package for the performance package
4.0 this is
something that basically has everything
you need down to the
last butthole hair bro this is
um the lawnmower 4.0 is included this
trimmer is the future of grooming and
perhaps the greatest ball trimmer of all
time after going through four iteration
changes this is the fourth generation
trimmer features a cutting-edge ceramic
blade to reduce grooming accidents it's
also waterproof so you can say goodbye
to mess on the floor pubes on the floor
not a good look bro and in addition to
that taking your grooming to the next
level with the
weed whacker nose and ear hair trimmer
also not a good look having either of
those things popping bro
[ __ ] bad in addition their crop
preserver ball deodorant and crop
reviver ball donor will change the way

65
01:04:00.000 --> 01:05:00.000
you approach your hygiene regimen your
balls will thank you as said on the
inside of the package in all seriousness
i think individuals should all be
manscaping because if you're not that's
like a such a [ __ ] ridiculous like
disadvantage to have over other males in
the dating marketplace bro like imagine
a girl goes down on you and you just
like have done absolutely no hygiene you
have done you have no hygiene like
that's not a good it's terrible you know
you want to feel clean you want to feel
confident you want to just not be a
disgusting uh [ __ ]
woolly mammoth bro it's not good take
time to take care of yourself go to
manscape.com get 20 off plus free
shipping with code derrick in addition
if you're a fitness guy the difference
in how lean you look when you manscape
versus not when it comes to your abs
chest vascularity on your arms
especially even though you don't have
that much arm hair or you might i don't
know like some people are way worse than
others but even when it doesn't seem
like you have that much and it's fine
the difference in vascularity if you've
been you know
very lean you know the [ __ ]
difference it's literally like a few

66
01:05:00.000 --> 01:06:00.000
percent body fat seemingly instantly
pulled off of your body
when you shave properly and manscape so
anyways you can check it out link in the
description below 20 off and free
shipping code derrick manscape.com thank
you for supporting today's video
and back to our regular scheduled
programming so i'll say right now i'm
i'm going to be putting my layla hat on
because this is 100
all the stuff that layla does
i'll give a couple general statements
and then a little bit more weeds but
at least as we see it we see
compensation as the ticket to get in
which is
we have to have it at a point where a
players would say yes
we believe that a players
do a level activity because of who they
are not because of what they're getting
paid
and so it's like you have to have the
bar high enough
that they're going to want to work for
you
but most people like salesmen sell
because they are salesmen
the comp has to be enough that they're
going to want to start working for you
but they're not going to sell less hard
because of the comp

67
01:06:00.000 --> 01:07:00.000
that's at least our
our compensation philosophy we also tend
to pay very well
for that but for the reason because we
want to attract the best talent you know
what i mean and so that's like big
picture number one
um the second thing is that i think from
a tactical perspective and i learned
this from lightness it's not mine
you learn a lot about the role by
interviewing for the role and so you
learn a couple things one is you learn
with the actual like you can go to
payscale.com and there's you know
glassdoor things like that to try and
figure out how much someone's gonna get
paid
but there's so many unique natures of
like a role in this type of business
blah blah that it's it's more useful to
just talk to everybody see where
everyone's at and then you'll get a real
pulse for what the market is right um
and then in terms of like figuring out
the job role and who's right for it
i think a good litmus test is who am i a
excited to talk to and b who am i
learning from because
the way that it should work in my
opinion at the sea level and above is
that we get on the call
and they're telling me what should
happen at this stage for the business
if i'm like hey these are all the things
i need you to do then they're not the

68
01:07:00.000 --> 01:08:00.000
right person because the right person
would say totally understand i would do
it like this it's because two other
times i did the way you said it and it
didn't work so we tried it this way and
it's been working a lot better i was
like oh and so what happens is as these
interviews stack up you take notes and
then you get a really good idea of all
the best practices and you can start
seeing who's you know who's got game
now when you said when you're trying to
figure out pay structure you ask around
like who who are you asking exactly on
the interviews on the interview like
you're asking them what they you could
put a hue you could put a big range
depending on experience you say boom you
know from here to here range with
variable comp and most that's a
negotiation anyway so it's really again
what you put on the ad is just like the
ticket to get someone to respond
and that's again if you're doing an ad
most like true executive positions are
head hunted
so you're saying you're literally asking
the person you're interviewing what they
want to make is like is what you're
saying what do you think's right for the
role right okay that makes sense
okay yeah that's sort of like what i
arrived that too i was just like what is
what possible other way could i figure

69
01:08:00.000 --> 01:09:00.000
out some random pull an answer out of my
ass when it's like i have no idea
personally to be honest for a lot of
these roles
so yeah i mean you look at pay scale you
look at glassdoor you have a rough idea
you have your idea of what it is and if
everybody get on the phone with it's
like well you know i'm currently making
200 and so for me to leave i'd probably
have to make you know at least that and
you hear that over and over again people
are like and you could you can ask it
different ways you can just say what are
you making now that's that'll give you
at least a litmus test of what they're
leaving and if they're unemployed then
they're probably not it's it would be
less common for the type of level of
person you're looking for because most
of those people who are a players and
are good at the thing usually do have a
job
do you ever fact check when somebody's
like oh i make 250 and you're just like
okay yeah you do i don't think we have a
way to do it you know i mean if someone
if someone doesn't have that then
they're going to be out really quick
anyways
makes sense
um an impeachable character it's one of
the values yeah
your skills that got you to 100 million
versus when you were at like 10.
do you find that a lot of it was just

70
01:09:00.000 --> 01:10:00.000
hiring the right executive people or
like what has changed about you and your
skills and thought process over the last
few years
yeah it's all people
yeah it's so boring i mean
i remember being in the audience and
seeing these big guys speak and being
like it's all about hiring a great team
you gotta hire people smarter than and i
was like this guy's full of it he just
doesn't want to tell us the secrets yeah
but
but like
that is the secret you know what i mean
it's simple not easy you know and so i
think the
the
the the the dollar skill is being able
to accurately judge
discern people's talent
and
know how to lead
a team of a players because i will say
this
from a demanding perspective a players
demand an even better leader than b
players though
so i think i i did this tweet the other
day but it's like
i think this is
this is deeper than it's going to i feel
like hit most people but like i think
you have to be worthy of the team

71
01:10:00.000 --> 01:11:00.000
that's going to get you to where you
want to go and so if you're like i want
to get to 100 million i want to get to
500 million
it's my belief that there's a team that
can get you there absolutely the
question is are they going to want to
work for you
got it
yeah yeah no i feel like i kind of knew
the answer but sort of just wanted to
hear you say it too
but
by the way
how did you get uh how did you get
verified on twitter and you're not on
instagram that's weird
i'm verified everywhere except for
instagram
yeah like i don't understand it like
that seems so i gotta go [ __ ] connect
yeah i can connect you with it oh really
okay they did it like a week that was
actually like the easiest one
really damn because that's like one of
the ones i don't i don't have okay
yeah yeah if you've gotta you gotta
catch them all gotta catch em all yeah
yeah literally that's what it seems like
have you ever tried to
oh sorry you were like cutting out here
is my connection okay by the way it
seems kind of like glitchy

72
01:11:00.000 --> 01:12:00.000
yeah i think we're it's all good um
all right anyways go ahead go ahead
um so circling back to the executives
have you ever fired any and if so
what were the reasons
yeah um i i to be fair i haven't fired
many uh layla has done the majority of
the fire
um because most the team rolls into her
so layla very much like runs the
businesses like she is she is really
functional ceo um
she just makes me look good uh but it's
very it really is very much her she
doesn't get nearly the credit that she
deserves because she really does run
these things um she said she's a phenom
i mean
she's an unbelievable operator um
but the question was why did we fire
them uh usually it's because
it's variety of reasons you know it
could be a culture fit
it could be that their skill set got us
to where we are and you know they
haven't been able to adapt to what is
required for the next level of growth um

73
01:12:00.000 --> 01:13:00.000
usually at an executive level it's gonna
be or it's gonna be one of those you
know one of those things i mean we've
had the quick early fires that are like
a weekend you know what i mean those
students are like wow missed that one
you know i mean there was one time we
paid a head hunter i think
a hundred grand or 140 grand something
like that to head hunt a cto for us
and um i think we fired him
two days in wow
geez just wasn't worth it
it's the you know i just we could tell
right away he was late to three meetings
on the first day and he said he couldn't
figure out how to use zoom and i was
like your cto how can you not figure out
how to use zoom
yeah like that's that's like literally
like that's what you're supposed to be
that's
right yeah exactly i was like i don't
know we've got frontline you know
customer service that's able to figure
this out no problem so what am i missing
here and so it just seems you're like
cool like
i'm sure you have a story we i just
don't care you know what i mean like at
this level i would in the comp that you
know this guy is probably a 500 000
employee
like you're expected to bring it you
know and uh if you can't do simple
things right then you're not going to do

74
01:13:00.000 --> 01:14:00.000
the great things right
right and as far as you're
finding an executive assistant you
mentioned have you gone through eight
to find your current one yes i'm on
number nine and yes i've gone through
eight it's actually something i'm very
like ashamed of
so that like process
did you have to do every interview
yourself because it's your own assistant
so presumably
you're more involved in that
i think i've made basically every
mistake you can make with a personal you
know with an executive assistant um
even the way i thought about it was
wrong for pretty much all of them until
this one
so
first off many people call themselves
executive assistants when they are in
fact administrative assistants
i was looking for an executive assistant
and we said executive assistant but i
don't even know what executive assistant
was i just that was the term everyone
used and what i consistently got was
administrative assistance there's
nothing wrong with administrative
assistants it just wasn't what i was
looking for
and so
that was number one number two is that
i was not involved in the interview
process until like the final interview

75
01:14:00.000 --> 01:15:00.000
so they would give me like two people
and be like pick these are the two best
and i would basically just pick from
those and um
i just you know and and
i didn't know what right looked like and
this is like this is a really good like
analogy for for like acquisition.com
i didn't know what right looked like and
so as a result i had to hire again and
again and again until i got lucky and i
found what right looked like and now for
the rest of my life i know what i'm
going to have for an executive assistant
i know exactly what it looks like at my
level what i do what my life looks like
i know exactly what they need to do and
i will be able to always have that for
the rest of my life and the same thing
goes for how do i find a sales director
at you know a million a month how do i
find a sales director at two million a
month how does you know what does that
look like what is how do we transition
from staff account to controller to cfo
what does it look like so like we know
what those look like and that's how we
fast track this because we just
eliminate the
the the [ __ ] ups for like a better term
of of going through it because i haven't
i've basically not had an executive
system for five years i mean i've had
one but i haven't used one they weren't
really executive assistants so that was

76
01:15:00.000 --> 01:16:00.000
number two
number three is that i actually uh well
i guess with the interview thing that
was three so uh number four is um
i didn't have tremendous rapport
with
the assistants that i had before this
nothing wrong with them great people i
just didn't have i didn't look forward
to speaking with them and if i don't
look forward to talking to you or want
to talk to you i just don't and if you
don't talk to your assistant
they they have a really hard time
assisting you
and that's on me that's my fault um but
that was a huge thing and so and i think
part of it was that i i was like that
shouldn't matter i can be a good you
know i can be a good leader i don't have
like that it felt petty that i would
have to like like the person um but it
was really dumb and so like you
absolutely should like the person
because you want to talk to him if you
want to talk to like you know with
melanie it's like i'll send her i'm like
hey i just wrote this buy for a speech
what do you think and she's like ah i
think it sounds good or i'm like hey
what do you think about this paragraph
from the book like i i want i want her
feedback and i'm like hey what do you

77
01:16:00.000 --> 01:17:00.000
think about this t-shirt design or
whatever you know and she gut checks it
with me and i i trust your judgment
because it's supposed to be an executive
assistant which means that you have to
be able to do executive functions which
means she has to work on my behalf or in
my stead in a lot of places so she has
to be able to read emails know what i
would say and go for it and that
develops over time but that's how she
can really give me my time back which is
why in some ways it's the most viable
you know hire in the company
as far as
like again i don't know the difference
between administrative assistant
executive like this is my first time
hearing the disparity
like how do you determine
the compensation structure for ea do you
ask them in the interview too it's the
same exact thing and like what do you
think this is well the range is going to
be much smaller you know right so
um
so
there's two questions there so the
administrative assistant versus
executive executive is like they're
assisting at the executive level they
sit on executive meetings et cetera
right administrative assistant typically
just helps with administrative tasks
which means like paperwork scheduling
correspondence that's um
and that's usually where their skill set

78
01:17:00.000 --> 01:18:00.000
stops uh an executive assistant can have
probably elements of project management
that are in place they can drive
initiatives they can have their own um
you know quarterly goals that they're
driving you know what i mean so they're
they're much more involved and they act
like mini operators on behalf of the ceo
rather than or whoever they're working
for rather than just like hey can you
get me coffee and things like that so
there's just that there's just different
levels so is that the compensation
that you're asking about um i think it
depends on you know on on the company i
mean i've got a friend who has two
executive assistants and and she pays
them both 200 grand a year
so like there's there's that level right
and um she runs a really lean company
and she runs a lot of stuff through them
right and they run everything in her
life uh and she has a very big business
uh on the other side you know i would
say if you want a really good you know
executive assistant it's gonna start at
70.
it's gonna start there and it can kind
of go all the way up to what i was
saying so like
that's the range and it really depends
on
past experience

79
01:18:00.000 --> 01:19:00.000
uh and
ideally a similar type of business and
ceo
to you
so melanie i was very fortunate worked
for another ceo of a company who's very
public facing
um and so she knows what the demands of
like podcasts in writing a book and
sometimes i just need quiet days which
is like i just need to write all day or
whatever i'm gonna do and she gets that
so she just clears everything for me if
i if like layla's relationship with her
executive system is entirely different
than mine with melanie i one of the
other issues i had is i kept comparing
my relation like what i thought i should
have to what layla had with with yasmine
which is her executive assistant and
i basically just kept failing because i
kept trying to recreate something that
didn't need to exist
huh
and she have your life scheduled out to
like
the minute for months in advance or
something because like when i was trying
to for example scheduling this podcast
the two options were like today or like
two months from now and i was like holy
[ __ ] so is it like that intense where

80
01:19:00.000 --> 01:20:00.000
it's down to the minute for weeks in
advance
that was pretty good
i mean i mean i'm
i'm
i know
i mean if i have a blank spot on my
schedule i'll just text her and be like
what am i what should i be doing right
now and she's like these are priorities
this is this like this is probably a 30
minute task and i'm like all right i'll
just do that
so in a lot of like she helps me do more
right and also she's a huge gatekeeper
you know what i mean a lot of times
we i mean probably like you i'm sure you
get a ton of requests and so
you know and so we also help the
decision-making criteria which is like
okay
uh what's required for a speaking
engagement what's required for a podcast
what's required for in person what's
required you know like what are what are
all the things that we're looking for
and this is how i would make the
decision and so she just does it again
again and now i just trust her her
her decision making
and is she expected to be in house like
40 hours a week or how does it like
because you guys are in we're all remote
we're all remote yeah so where's where's

81
01:20:00.000 --> 01:21:00.000
she from is it she in the states or
she's in idaho yeah she's in idaho okay
badass boise
yeah that's where uh one of my companies
is actually oh really oh no yeah yeah i
might buy a place there in the future
because i'm i live in canada so it's
kind of odd because both of all my
companies are us-based but i live in
british columbia so yeah
but idaho looks awesome the cost of
living is good housing you can get good
it's a pretty chill area that's where
clickfunnels is clickfunnels clean safe
all that stuff so with acquisition.com
obviously the grand goal you know you
guys want to get to a billion
but do you have like a
do you segment it by like you're always
talking about like long-term goals
you know the best entrepreneurs or guys
who are thinking like 15 years ahead
kind of thing rather than short term but
do you
being mindful of that do you still
segment that 15 years into like micro
one year increments or is it more like
billion and like that's where my mind is
or is it like 2022 i need to get this

82
01:21:00.000 --> 01:22:00.000
done by the end of the year also
yeah i think the big picture is like the
heart you know i mean it's like you have
to have something that's going to pull
you
um
and
candidly the billion doesn't pull me you
know i mean like that's more like i
think that's going to be something that
will happen if we do these other things
um the thing that pulls me is the
mission which is the document to show
the best practice of building
world-class companies like me writing
like there's not there's
there's truly nothing that i get more
enjoyment out of than writing the books
like writing the books and making like
and when i when i have the time on it
because i try to do it like when i make
those slide presentations and i put them
on youtube like
there there are very few things that
bring me more joy in life like i really
really like it and it makes me feel like
some of the mistakes and the lessons
that i learned like it feels like it's
going to help somebody else and to me it
feels like those even though i messed up
i'm like well someone else doesn't have
to and so i feel like i'm getting credit
or like i'm like you know what i'm
saying like somebody else doesn't have
to [ __ ] this up and so it doesn't feel
like it's in vain and so that's why i
think i enjoy doing it so much um

83
01:22:00.000 --> 01:23:00.000
but that's the thing that like really
drives me the the billion is just like i
think we'll have even more credibility
for the lessons that we taught and i
think that it'll be cool because people
be able to watch the videos from when we
were at you know 13 million a month or
15 million a month uh compared to when
we're at 100 million a month so i'd be
like so i think that'll be coolest i
wish bezos and musk had done that so
this is like me hoping to fulfill that
dream for somebody else um
and then uh in terms of the micro so
the the the longest actual planning time
horizon we have is 36 months so 36
months and then 12 and then quarters
and then you know we've got you know
weekly and monthly stuff but that's
that's kind of how we break things down
the big planning is
uh 36 12 and quarters that's the that's
the real big stuff everything else is
kind of blocking and tackling
so what's your end of q4
goals do you have any like set out right
now or is it waiting until what happens
in q2 q3 to figure that out sort of

84
01:23:00.000 --> 01:24:00.000
thing
um i would like to
double i mean for me if we doubled the
portfolio revenue by the end of the year
that'd be great
which we do by just growing the
businesses which right now we're on
track to do so i'm pretty pumped about
it
you don't set like hard deadlines on
like book completions or anything that's
more just like a hobby for free time or
yeah like yeah i mean the books the
books the books if anything
acquisition.com does not need the book
like the book is for me um if anything
the book
but either the book makes
acquisition.com less money
because there's stuff that i should be
doing right now i mean literally layla
and i have conversations about this last
night i was just saying like i just
wanted to say thank you to her because
um
i was like i know that there are things
that i should be doing right now that
i'm not doing because i want to write
this book and i'm doing it for may and
so i just like was like thanks for
giving me the space to do this because
like this is like why do you have a
business you have a business that you
can have the freedom to have options and
for me
writing the books is something that i

85
01:24:00.000 --> 01:25:00.000
just derived tremendous joy from and so
i just it's selfish and i really like it
and so i do it even like there's so many
there's there's a handful of big
projects i should be pushing right now
that i'm basically just saying until the
book's done i'm not gonna be able to do
it
have you ever tried efficiency tactics
to like i guess if you enjoyed writing
then maybe you haven't but something
like dictating the book and then having
somebody format it and like rewrite it
in a more professional way or something
no i love writing i love writing
yeah i mean some of the things that
people don't know about me is like when
i was in high school i was the vice
president editor of the newspaper i was
the uh
i was the editor-in-chief of the
creative uh creative the literary
magazine um i got a full ride to tufts
uh which is a pretty good college here
in the united states for writing and
they they like the writing professor
like wrote me a personal thing was like
we love your writing because i've done
tons of writing samples because i just
like i love to write um
and so it's cool that and i pretty much
stopped after college and i i i kind of
refound it um with the first book which

86
01:25:00.000 --> 01:26:00.000
is jim long secrets um and then you know
obviously 100 million offers and 100
leads um
and i just really love it so i wouldn't
i would it would it would rob me of the
joy and i don't think i
when i see it in front of me i think
better
i process the information better and i
think i get more disciplined in my
thinking when i write
so do you
does that apply for reading for youtube
or do you listen to podcasts more and
how do you consume content
or do you even consume content
yeah reading is the probably the biggest
thing that i consume
um
yeah i'm not a big i'm not like
i don't consume a lot of content which
makes me like a lot of times i feel like
behind because like i don't i read but
like i don't read that much um
and you know i watch videos from now and
then but like not a lot
um
i think a lot of my like progress has
been trying to like think through
problems and just solving them in the

87
01:26:00.000 --> 01:27:00.000
real world and that's why i've learned
the majority of my stuff
okay
and and like mentors mentors and
advisors for sure that's helped me a ton
like that's where i would say like i get
a lot of my guidance from
right
do you have like a certain cadence of
meetings with them or do you no just
like hit them up when you have a problem
okay yeah just like hey let me bounce
this off you this is what i'm thinking
about this deal structure here's kind of
the variables like give me your two
cents on it
yeah
now that seems in line with what i do
too so that seems to be the easiest way
to make it happen
it's just unorganized on my end i have
like 57 different threads all over the
place unfortunately i think if you maybe
if you ask them to uh all join one it
might be just like this is a requirement
to work with derrick yeah
maybe
so taxes and investing i got to talk
about this kid you're i don't know if
you're one of the first people to like
lay out in clear practical terms how
individuals with high net worth take out
loans against their assets
and their portfolios

88
01:27:00.000 --> 01:28:00.000
so
for me thinking especially as somebody
who has a
a corporate structure where a lot of my
money gets tied up in the companies
and if i pay myself personally i eat a
[ __ ] ton on the taxation side of things
so oftentimes i'm looking at you know
ways to leverage debt to
fuel the
you know whatever my lifestyle is which
whatever bare minimum i need you know
against the assets and whatnot but for
me
i always wondered because for you i know
that are you're not planning on having
on kids right like you and layla said no
kids 100 percent
i would say we're
we are in the no kid camp i'm not saying
we're going to say anything forever but
like i don't think we'll have kids at
current so if you're
taking out loans against your assets and
you've accumulated all of this debt by
the time you die
and they're coming to collect on it
does that debt get deferred onto your if
you had kids your kids or your family

89
01:28:00.000 --> 01:29:00.000
members or is it simply that the
collateral that you have put up
to get that debt they they just pull it
out of your company and you've
essentially circumvented the tax
structure entirely because i've heard
differing differing answers where it's
like on the one hand the idea is that
when they like uh call the debt
it's like
let's just say i have my wealth
management portfolio and they're like
okay you owe
three million dollars on all this debt
you've accrued for your lifestyle they
go in and they pull it out of my company
and i've essentially died and beat the
tax system
or is it that they go into my company
that exists and then like take a chunk
of equity out of it
yeah
so
okay
a couple things
first some disclaimers and then i'll
i'll go into it one tax advice yeah yeah
sure this is not tax advice number one
number two i did not make my money
investing i made my money money so i
consider myself a very novice investor
compared to at least on like my business

90
01:29:00.000 --> 01:30:00.000
to investing knowledge is far outweighed
towards business than investing so
that's second yeah
third thing in terms of uh
what happens when we die so most people
especially high net worth individuals
are going to have some sort of very big
life insurance policy so like when i die
there's a big nut that's going to go to
layla or in the reverse right um and
that would more than cover
any kind of uh debt etc that's that's
happening right
the next thing is that
uh it depends on how the debt is being
taken so
if you were doing an asset-backed loan
uh which is like a collateralized loan
then they as long as you're continuing
to make the minimum interest payments
which if the company that you're taking
it against can make off the cash flow
from that company can cover the
minimum interest payments and it's
growing at a faster pace uh
then you indefinitely basically defer
and then i think that's more or less the
goal
in a private company setting so like for
you right in in a company that's not
publicly traded or the asset would not

91
01:30:00.000 --> 01:31:00.000
be considered like liquid um
you would have to go through a more
formal process of getting getting or
putting debt on the company and it and
especially if you want to take it as
um
as you know like as personal stuff for
you you'd have to go through something
called a dividend recap uh
recapitalization um of the business and
so uh
that's the like big picture if it's a
public it's a publicly traded equity or
it's a real estate asset something
that's a very well understood asset then
you get there are plenty of lenders who
will lend off that because they can
adequately value the risk of the asset
with a privately held company you
basically have to
pay for all of them figuring out a
custom
debt solution for you given the asset
that exists
so for me
the the way it works for me is i have a
bunch of companies under me and then i
get dividends or distributions depending
if it's a c corp or an llc
i pay a corporate tax at my like hold
call level and then that money that
company sits on a bunch of cash and i
either put it into a wealth management

92
01:31:00.000 --> 01:32:00.000
portfolio or redeploy it into new llcs
or whatever so that wealth management
portfolio
is in the market
and is being invested and is cash it's
not yeah it's not personal after tax
cash but it's corporate after tax cash
so
but that amount i can get a personal
loan against that amount equal as well
within reason
so i'm thinking at a personal level to
circumvent the corporate
butt [ __ ] that happens when i take the
money out of the company
i can basically take loan against
whatever my portfolio is to whatever
extent i want
and get this debt accumulated but then
when i die i don't know that they just
won for one like you owed five million
dollars at a personal level so let's go
into your company portfolio and take out
five million
and that's satisfied like i don't know
that they don't charge a personal tax
rate when it hits that barrier again

93
01:32:00.000 --> 01:33:00.000
do you know if that happens i i don't
know oh i don't know i think it also
depends on how the debt is structured i
think it's all going to depend on how
like what type of loan you are getting
in the terms of the loan
because i'm wondering how people justify
doing this when they don't even know
what happens when they die because i'm
thinking if you've taken out all this
personal debt against your corporate
funds like even if the cash is there
like there's no guarantee that
you're not getting hit with a personal
tax at death so if i owe five million
and let's just say there's five million
in the wealth management portfolio and
they take out five and that was all you
had
does it get chopped in half and then
your family owes 2.5 million or
something like i don't well to repay a
debt there wouldn't be a there wouldn't
be a taxable event
so you do circumvent the personal tax
even though you have to pay that you
might have to pay the debt back but
right but there wouldn't have been right
you would you would took tax against an
asset
okay canada may be different but like in
the united states if you take if you
take a loan like i've asked it worth a

94
01:33:00.000 --> 01:34:00.000
hundred grand and i take a loan of 50
grand against that asset and i have to
pay a thousand dollars a year for that
loan
yeah then as long as i make the minimum
interest payment or someone is making
the minimum interest payment then then
that loan might never get called and
that's cool great good for that and if
it does get called then it either gets
paid through my life insurance policy
because there's cash that happens there
and that could pay off the debt and then
the company's fine
or if for some reason they did call it
uh
then then they could go
grab the assets that they collateralized
the loan with to begin with
right so you would essentially be
circumventing personal taxation at that
point because you're using
collateralized
liquid cash that wasn't that was in the
company to pay off personal debt without
incurring tax
okay
that's good if i take my company public
if i take out which does not come public
i can take a loan against my stock
personally right and they know that they
can secure they can grab my stock from
my thing whenever they want that's how
it works from a fundamental level and do
you guys not do that at all like you

95
01:34:00.000 --> 01:35:00.000
just use
i don't and that was the last caveat i
don't do any of it yeah but that is that
is how it works i don't do that because
that's just again
i have i've tr i have tons of cash flow
you know what i mean like that's not my
that's not my my issue i have very high
cash flow companies we have assets asset
light companies like we are built to
cash flow i'm a very big you know
proponent of of uh you know warren and
charlie uh in terms of school of school
investing like we're very much like we
buy companies that make money
you know i mean like we're we're not in
the like let's see what someone will
value this in the future as or this
could be really cool like we buy stuff
that makes money and we can see the
money today and we have a reasonable
expectation that it's going to continue
based on xyz factors
so i don't do that stuff i don't do any
really crazy tax things i don't do any
really crazy loan things and now that
everything just went to [ __ ] and
probably will continue to go to [ __ ] for
a little bit um i'm happy about that all
right because
all of this other stuff let's say i
taken all these loans up to this point i
would i would be overlapping so i
wouldn't be able to do anything

96
01:35:00.000 --> 01:36:00.000
and
right now everything's down 50 maybe
it'll go down another 50 percent and
then overnight i'll just take that cash
and i'll just buy something and then
i'll have quadrupled my money all right
it's just like all these 10 things
don't like at least when i see how like
the richest people made their money
they're looking for like 10x 100x
returns in games that they cannot lose
they're looking for the obvious play
like charlie's like you should never
have to do a calculation to figure out
whether it's worth it he's like it
should be obvious right like this thing
was trading at 10 million it's worth one
million now and nothing has changed
about it okay this is probably something
worth buying today you know what i mean
so that's kind of like
yeah sorry good to play devil's advocate
to that like you said that high net
worth people do this
to avoid tax but then people who have
high net worth probably wouldn't be
concerning themselves with that to begin
with is that only
so like
which individuals are
oh there are absolutely people who who
obsess about tax stuff right absolutely
i am not one of them right okay and i

97
01:36:00.000 --> 01:37:00.000
think that basically i don't think it is
required to become high net worth to
obsess about this and i think that many
people will be better served not wasting
30 of their time trying to do all these
things like i got a message after i made
that tax video and somebody's like i
have a personal friend who's extremely
wealthy and he counts his days of when
he's in new york versus not in new york
so that he can avoid the new york tax
and i'm like well that sounds like a
miserable
dude
tell me about how many entrepreneurs you
know who've gone to like puerto rico or
like a tax-free place and
how many of them regretted it versus
didn't regret it
do you know well i i know personally a
lot of them have come back
yeah it's different and i say this to
somebody who i moved to puerto rico
oh yeah
in 2017. i moved to puerto rico 27 to be
fair i was only there for four days
because the hurricane came the next day
and we didn't go back um but but yeah i
mean i had a friend that i uh
that that he went there and he did the
whole thing and uh
i was like
and he was traveling back and forth to

98
01:37:00.000 --> 01:38:00.000
florida every weekend every weekend he
flew to florida and back so it was a
flight two flights a week every week for
the whole year so he could keep his his
thing and i was like do you think
if you didn't have a hundred flights a
year
you would be able to make up
the 30
that you're paying in taxes
and i was like well [ __ ] and i was like
and you'd be able to just live where you
want to live because like
this is the thing that layla said and i
say i i kind of get really hard on
selling this piece because i
i there's a part of me
that just loves making more money and i
would and i would prefer to pay fewer
taxes like i would but i think that her
logic is sound which is why have all the
money in the world if you can't live
where you want to live in the world
and so that's that's kind of the big
picture you know
um
at least at least for me you know and
but the count the devil's advocate
argument i would give to me is like at
what point does taxation become too much
if they if you were in an area that was
99 tax
and you and you really wanted to live

99
01:38:00.000 --> 01:39:00.000
there would you say oh you have to make
a hundred times more
well i'd say like how reasonable is it
that i can make 99 times more than i can
and at what point does this materially
affect how i live
because then i wouldn't be as wealthy
because i don't have all the money in
the world but like the difference
between
you know i think at this point paying 40
percent
uh
versus paying
30 paying four percent there's a 36
difference you know it's a 50 increase
in your take-home uh which is material
but
the it's material in terms of the number
but is it material in terms of how it
affects my life
and so the math that i did on this was
am i going to care if i die worth 10
billion or 15 billion
yeah
i don't know but i do know that if i
talk to my 85 year old self he'd be like
did you really
spend your entire life where you didn't
want to live because you wanted me to
have 5 billion more dollars yeah and
then he looks at me like i'm an idiot so
then i'm like all right got it and so
that's that's like how i play this out

100
01:39:00.000 --> 01:40:00.000
of my head
so earlier we were talking about your
how acquisition.com is an llc and then
you sort of made it sound like it might
become a c corp was that is that
something that's planned or did i just
like misinterpret that no i'm looking at
the structure that apparently i mean i
was told by a friend of mine that that
warren buffett espouses which is like a
combination
of uh
of c-corps that are structured through
like an esop which is a u.s thing for
employee stock ownership plan um
and esops have some particular things
where there are
there's no taxes
um associated with the cash that you get
from the loan for the esop so i actually
literally just sent it to my lawyers to
take a look at
oh okay because i but again this might
be another thing that i tell people not
to look into yeah
but warren does it so the thing that
hooks me was that warren buffett did it
so i was like okay
he's legit in terms of like his ethics
and the fact that he doesn't do shady
stuff and so i was like okay if it's if
there's no shadiness so there's no hair
attached to it like the trust thing that

101
01:40:00.000 --> 01:41:00.000
i was telling you about before you know
i had to find 10 people that all had to
represent you know five million dollars
and i have to like convince them to do
this then i can't touch the money and
then the irs could unwind it i'm like
yeah no
but this is like if this is 100 letter
of the law of this if i can structure it
in a certain way and it benefits the
employees and we also don't have to be
like cool i'm it
so berkshire hathaway is a c-corp just
to clarify but it has this special
employee thing i think they have a they
have they have a setup i'm having her
look into it i i don't want to speak on
it because i clearly didn't know enough
that's why i said it
and this would circumvent the 21 c corp
tax on any dividends you receive is that
yeah it had there's there's thresholds
and things like that and there's holding
periods like after five years
the certain certain amounts of money
it's over 10 million dollars
there's a whole thing to it what is it
if you know you're gonna hold for a long
time that's the big thing is if you know
you're gonna hold for more than five
years which we are
then that's that and that's what made it
believable to me because i was like if
it's just like oh just move some papers

102
01:41:00.000 --> 01:42:00.000
around and then you don't pay like
that's too good to be true i don't
believe that but like the us the the
the u.s government incentivizing
entrepreneurs to not sell and to grow
corporate enterprises that that make
jobs and reinvest the money in the
corporation which goes into the economy
that makes sense to me to incentivize
so that's why i was like look into this
wow yeah this looks good
i'm just looking at it right now because
i have a c corp and i paid what uh 21 on
all my dividends and then personally if
i want to get that money in canada i
have to i have a withholding tax of five
percent over the border
then it gets into my hold code in canada
and then i have to pay a personal tax
too if i want to get it out it's just
like
it's [ __ ] ridiculous i mean you
double taxed here too it's like 44 if
you pay
if i took dividends from a c corp
um
they would be qualified dividends but
the net net would still be uh 44. so
it's better to do llc if you're if it's
a flow through
right yeah like my this is not this is

103
01:42:00.000 --> 01:43:00.000
not my specialty this is just you know i
paid this is like the hr question like
how do you set this up i'm like i paid
people who are much better than me at it
and i asked them to do it yeah for me
the c corp the idea of it was always
sort of i guess enterprise value minded
where i figured i make enough
i have enough to sit on where i can
survive just fine and i guess worst case
scenario i could always take out loans
against my cash or assets and then if
you could retain all the money in your c
corp you can just redeploy it and i i
assumed that was like at a high level
what most of the top companies were
doing but
never even heard of this yeah because
what do you need the money for you're
not because like
there's nothing
i mean you got you've got shelter you've
got clothing
you've got food you've got
transportation four big costs right
and so like if you know what you drive
you know where you live you know what
you eat you know what you wear what else
you gonna spend the money on everything
else you spend money on is to make more
money
yeah
so it's like what do these cost and then
everything else can stay in c corp to

104
01:43:00.000 --> 01:44:00.000
get redeployed to make more money and
again and then at that point it's what i
can make more money so that i can
make more money yeah yeah exactly to do
what because i already covered my big
four yeah
how much do you spend to maintain your
current lifestyle
uh i think about 50 grand a month
damn dude and is that because you have
like a what like a penthouse in vegas
right now that you're renting or what is
that that's with us that's with us like
really actively trying to spend money
right i would say we live
like [ __ ] um
okay and i say that
and i say that
i was cracking up
but like i mean i'm just being wrong
because like at some point i'm like i
just said it like these are the four
things you can spend money on like what
else you can spend like and so
it's you know um like we go out to eat
we probably spend
twelve thousand dollars a month on on
food okay
which is a lot it's a lot of money you
know but we live we live in a place that
has lots of good restaurants and so we

105
01:44:00.000 --> 01:45:00.000
go out um
on the flip side i spend no time
preparing food we don't go grocery
shopping and we don't we've never used
our kitchen not once so
lunch is delivered and we go out for
dinner we do that every day right the
only thing i have in the morning is i
have a bar and a shake and i do that
every day so i do barna shake i have a
bunch of ground beef and and sweet
potato for lunch and then i have and i
go out to dinner and that's where i have
my dessert and i have everything else
right
the the rent here i think it's like 15
grand a month you know
whatever um
and then i saved you know 20 grand for
miscellaneous you know if layla wants to
buy a purse or whatever you know she's
right layla likes
layla has expensive taste in clothing
um i obviously have very expensive
tasting clothing myself um
dude your flannels i've heard are pretty
expensive
they are they are pricey but i mean even
if i have 10 of them it's like two grand
and then what else do i do um
but that's it you know what i mean so
there's there's not a lot else that we
um that we spend money on and that's
that's when i started getting into where
i was like man our our passive

106
01:45:00.000 --> 01:46:00.000
distributions
far outweigh even our active life like
so that's where i get into the whole
like that's where i get into the whole
worldview stuff because i was like why
am i even bothering to do this to begin
with and it's like we're just making
money to make more money
so that we can make more money to make
more money to what you know i mean to
nothing it's just to
eventually disappear and go back into
the system so whatever it's right but we
make more money because i enjoy the
process of making money and i love
documenting it which is why that's the
mission the company and we spent a long
time like what's what's a mission we can
get behind
i want a document to show the best
practice building world-class companies
like it's i draw pictures of business i
write books about business i make videos
about business like all i think about is
business and when i go to dinner with
somebody and they don't want to talk
about business i'm really awkward i have
realized this like i dude
in like mainly my business partners
we've become like increasingly more
hermit to the point where
i actually used to be like pride myself
on my ability to kill it in interviews
and be like socially fluent and whatnot

107
01:46:00.000 --> 01:47:00.000
but i feel like even though i film
videos for a living i'm more
increasingly socially awkward if it's
not related to exactly what i want to
talk about
yes i think i think what it is i try to
think a lot about it because i've bombed
a lot of uh first dinners with like new
people yeah layla be like you said
nothing i was like i had nothing
but i think it's a signal to noise ratio
so it's like a lot of people will make
noises you know i mean with their with
their i'm using this doctor casually
he's my coach but he says people make
noises with their face uh but if you say
anything and so it's like they have a
high noise ratio but like
to me there's very little signal because
it's just like these are they they might
be meaningful to someone else and so i
can appreciate that it's just like for
me it's just not something i find
interesting and so i think part of why
you got to where you are and some people
might say that we've you know
accumulated some material success is
because like we just genuinely find this
incredibly fascinating and so i spend
all my people like how do you say so
motivated i'm like i i don't feel
motivated i just i love doing this and

108
01:47:00.000 --> 01:48:00.000
it's what i spend all my time doing
anyways and thank god you can make money
doing business because otherwise i'd
still probably be doing business and not
making money because i like doing it
yeah i want to circle back to your diet
at us at very soon because you mentioned
how how you kind of like break down your
day but from the entrepreneurship side
sort of like capping off like
productivity
yeah so caleb asked if he could change
batteries for 90 seconds if we could
just oh yeah sure
sure okay
sweet we can just we can just normal
chit-chat
i don't know how to do that bro sorry
yeah i don't i don't either we could
just we can just stare at each other
yeah what is uh yeah i don't want to
like burn through these questions though
i have a good one well i'll ask you i'll
ask you a couple questions sure so are
you uh
are you married
no no just girlfriend planning planning
on not not anytime soon no
fair kids
oh we're good we're good on battery so
we're gonna go there you go
kindergarten
kids probably not though because and it
sounds absurd but well like for me the

109
01:48:00.000 --> 01:49:00.000
roi
and like it sounds so [ __ ] up to talk
about roi when you're talking about like
children or like pets or anything but
like even getting a dog i don't even
have time to feed myself let alone like
a [ __ ] dog so it's kind of like
for me i'm just not at that point in my
life where i can take a step back from
anything because i'm so full bored so
yeah i got it
what's your what's your reason for no
kids
um
it doesn't fulfill a need for me right
now hmm yeah
yeah i feel like i'd be doing the kid a
disservice right now too because i just
wouldn't be giving him the attention he
needs and it doesn't really fulfill me
in any meaningful way at this point in
my life right now
yeah we're on the same page and like the
stuff that i'm doing is endlessly
fascinating to me and i don't think that
like changing diapers or a two-year-old
would be as fascinating a lot of people
would be like wait until you have your
first kid and i'm like i get it
um yeah but i've also seen tons of guys
who love their work and don't let their
kids so like i don't think i'm immune to
that um and i also think that there's a

110
01:49:00.000 --> 01:50:00.000
very high likelihood that i don't know
if i'd like the kid i feel like i feel
like i can be picky about the people i
want to hang out with and like even
though
i'm related to people in my life
currently i don't hang out with them
because i you know we don't have similar
interests and so like if the kid really
liked
you know painting or something and
there's nothing wrong with that i just
probably wouldn't find that that
fascinating
yeah it seems like the potential
likelihood of the kid ending up
something that skews away from what you
generally had in mind is like what your
dialed in focus is it's so high that
it's almost like
the roll of the dice is it is it always
worth it i i don't know
and i'll give the one follow-up that i
have which is like when i think about it
because people are like what about
legacy and you probably already know my
views on it which is just that i don't
think legacy's real anyways but like
if like if people were like well what
about your future generations i'm like
well i'm somebody else's future
generation and so if you go far enough
back we're all related uh and so it's
like well then we already are all family
and we're all distant cousins anyways

111
01:50:00.000 --> 01:51:00.000
and so like why don't i just help a
super distant cousin of mine
do stuff that they're walking towards me
saying dude i love everything you do
please help me do that and i'm like [ __ ]
yeah i love talking to this stuff and
the people who like talking to this
stuff let's do that and so it's like
rather than trying to convince somebody
to try and love what i love just let the
people who already like that stuff who
for whatever nurture nature reasons have
come forward i'll just stop those ones
and i feel like in you know a kid
probably takes 30 hours a week at 40. i
don't know um in that same 40 hours a
week for 20 years i could probably help
a lot of people and if i think about it
like that that's where i have a hard
time justifying and you're like what
about that's return on what i'm like
i mean it's return on whatever you know
yeah sorry go ahead all right
the kids no no no worries that's uh good
to get some insight on that because i've
been curious why you guys didn't want
kids to
what is the most overrated piece of
advice you hear in me
i don't know i guess i want to make this
relevant to me selfishly so like in like
the

112
01:51:00.000 --> 01:52:00.000
i don't know like uh your net worth area
what what is the most overrated piece of
advice
i already know which one i'm going for
okay um okay uh there's two i gotta i
gotta pick two one of them is for caleb
the other one's uh for me so uh
at least at least in the u.s there's
this like
uh the average millionaire has seven
streams of income
yeah everyone like
retweets this as though it's as though
it's fact and it's just like
it's
it's so silly for a variety of reasons
first one is that the way someone gets
somewhere is not how they end up so mark
cuban has a zillion different income
streams but he made his billion with one
and so it's like
it's like saying billionaires fly on
private planes so you should fly on
private planes to be a billionaire it's
completely irrelevant what they're doing
because what matters is how they got
there and that's why i think that quote
is just such a farce the other reason on
a tactical level is that most people
have a very difficult time staying
focused and it takes an inordinate
amount of effort to be successful at
anything and to assume that you have so

113
01:52:00.000 --> 01:53:00.000
much talent that you can that you can
put one tenth of your attention into ten
things and then somehow compete against
somebody who's going all in on that one
thing it's just a huge ego thing in my
opinion and it shows a lack of clarity
right it's just like the whole idea of
uh i'm gonna do all these things and see
which one works is so ridiculous because
they'll all work but not at the same
time and so you just have to pick one
and you just end up doing ten things
like really shitty instead of one thing
100
100
and it takes a very high skill set of
knowing how to delegate lead manage
recruit partner even uh to to be able to
expand yourself and i think that people
would be like well alex you have eight
portfolio companies it's like yeah but i
didn't get here
that way and you're like we've got to
this point because we finally got those
companies and i've and i've been very
open about the fact that i think jim
launch would have been bigger if i
hadn't started prestige labs
because i split my attention yeah and i
it would have been bigger i know it
would have been bigger because there
were priorities that i had as soon as i
started prestige labs i just they
stopped being they stopping initiatives

114
01:53:00.000 --> 01:54:00.000
right and i could have continued to grow
that company and i shouldn't have it
just it just seemed
it was the woman in the red dress it was
like she walked by and i was like man an
extra 20 million a year sounds awesome
right but i could have just driven 100
an extra 20 million years in the main
thing and i made the mistake by looking
away and i took my eye off the ball it
was a big mistake for me it was one of
my yeah
yeah it was when i was
in
the build-up stage of my supplement
company and before my telemedicine
company even started i would see guys
like alex becker and think to myself i
feel like i could do this like online
course thing and the val the amount of
roi he gets
for his
like these master classes and you have
like just a good click funnel set up and
the amount of conversions he gets
relative to his input for it it's so
[ __ ] the margin is so extreme the the
attractive like lady in the red dress or
whatever
very very hard to ignore but i think
ultimately ignoring it and doing
building my businesses got me

115
01:54:00.000 --> 01:55:00.000
like exponentially further than i would
have been otherwise overall
and i feel like a lot of those like how
to make money online course guys not
necessarily alex because i think he has
like uh successful um
yeah awesome yeah that he has like high
roasts and like other stuff that's you
know cool that he's doing but like yeah
it's a 100 million company i mean yeah
i've looked to see if do you recommend
presumably you'd recommend them for
like yeah i think they do a good job
okay because i've considered using them
for guerrilla
tracking it depends on the type of
business but i mean alex
alex is smart man people like
anybody who bet bits against becker does
not know how smart backer is hmm
yeah
yeah i wonder how many of those make
money online guys though that
taught you know
kind of like kept the secrets themselves
sold like big
um high
value like courses and whatnot just wish
they built enterprise value in like an
actual brand
instead of this like

116
01:55:00.000 --> 01:56:00.000
selling how they made it sort of thing
at the end of the day yeah so so think
about so this is so obviously i'm in the
space so i've given this like a lot of
thought so
the way that most people practice it is
that they sacrifice enterprise value for
today's cash value so if they think so i
think i would think about like this so
it's like in five years
they could they could build a brand and
not take a lot of money during those
five years and then maybe sell that
brand for like 20 million bucks
versus make
you know
two million dollars a year for the 10
years a lot of people can't say no that
two million bucks a year take home for
that for that five year period and now
is the amount of money that they're
going to get
at the end equivalent maybe it depends
on their skill set you know what i mean
um
but the
the idea of doing the opportunity versus
selling the opportunity is very
interesting because
you can also
if you know how to if you know how to
build a brand you can turn the selling
of the opportunity into a brand and then
you get the best of both

117
01:56:00.000 --> 01:57:00.000
right and that's basically what i'm
trying to do with acquisition.com is
help people do that because that's what
i did i lived that you know i mean we
took
43 million in distributions while we
grew the company
and part of that is because i did the
other way first so i grew my chain of
gyms i just pushed everything back into
more locations more locations more
locations more locations and then when i
realized i learned more about business i
realized the opportunity vehicle was not
ideal
and i had a mentor was like dude
you should be licensed in this stuff
like you should be you should be helping
others like you shouldn't be signing
these leases doing these build out like
you shouldn't be doing all this stuff
and i took that to heart and i basically
fire sold those and i would have i would
have had more money if i just kept my
first location and just literally
pocketed all the money for that for that
period of time that i spent reinvesting
yeah rather than doubling basically
emptying my pockets every single month
into growth
and then at the end of it i had nothing
i ended up making a terrible business
decision after that and then losing what

118
01:57:00.000 --> 01:58:00.000
i sold the money for
different conversation for another time
um but like that was when after i i was
sitting there at the bottom and i had no
money after just basically giving up you
know half a decade to that to the chain
of gyms i was like i'm not gonna do that
again i was like whatever i do next i'm
gonna make money
while i grow it and that was a huge
priority for me i was like i'm not gonna
just just keep wishing it's gonna happen
there's so many things that can disrupt
the business and so i am i'm a big
advocate of taking at least
you know decent distributions throughout
the growth and does that sacrifice
long-term enterprise value
maybe
but from an entrepreneur perspective
especially the guy who it's his only
company
they are so over indexed risk wise
yeah that
taking distributions is a way of hedging
your risk
yeah that's something i took to heart
that you talked about is making sure
you're taking regular distributions
because for a while
i was just thinking
i care so much about enterprise value

119
01:58:00.000 --> 01:59:00.000
and i don't need this [ __ ] i can just
make the money off youtube and like
random stuff and not worry about you
know distribution i'll just reinvest it
all and grow 10 like way faster but
there's a point where it's like
it's it's too aggressive where you're
not actually being mindful of like your
own risk profile
yeah and you're you're skating too close
to the knife's edge and i'll say one one
more thing on this because this happens
all the time
and this is just what i've seen from
some of the
some of the companies that have applied
and things like that
is that there when you ask if i ask an
entrepreneur and i'm like hey are you
taking distribution it's like no i'm
reinvesting everything in the business
and i say like
reinvesting in what
like what are you reinvesting in
like the term reinvesting in the
business means that you are buying
assets that are going to increase the
company's value so it means you're doing
some sort of m a you're doing some sort
of tuck-ins rollins whatever of other
companies are competitors
or you have capital expenses that are
required to grow the business which
might mean i'm buying equipment i'm you
know i'm expanding facilities right

120
01:59:00.000 --> 02:00:00.000
those are those are capital expenses
that would be investments to grow the
business i'm going to get a return on
the capital that is what the true
meaning of return uh reinvesting the
businesses
the vast majority of the time they say
they are reinvesting in the business
because they are just not making money
and so they assume that because they are
not taking cash out of the business they
are reinvesting in it when in reality
they are just not running a very good
business because a very good business
spits off cash it spews money that is
what a good business feels like right
and so
unless they have a business that has a
requirement that grows through capital
like anybody who's in the in the
education space who says they're
reinvesting in the business
i'm like what are you reinvesting in
what asset are you buying that you're
getting that you're getting a return on
through your business
yeah and usually they don't have an
answer
because they're not reinvesting their
business they're just not that
profitable yeah i wonder how many of
those do that in order to show like an
inflated revenue metric through like
roases that are barely break even
just to show i made some huge amount of
revenue to then sell their thing though

121
02:00:00.000 --> 02:01:00.000
too
to more people
which is that's common things the guys
like that are oh yeah it is but you know
i've uh i've yelled at some of those
guys because i i know some of them um
and been like i'll tell you i'll tell
you a story because i think it'll piss
off somebody in the audience so
so there was a guy that i know um he's
still active today
and uh
i knew that he was broke yeah and
he made a instagram video that says
do you want to know how to be a
millionaire in your 20s
and so i screenshotted it and i sexed it
to him and i said do you know the
definition of a millionaire
and he was like well i've done a million
dollars in total sales i was like do you
want me to repeat the question
he was like no i was like a millionaire
means you have over a million dollars
in assets
yeah
in exclusion of your primary residence i
was like do you have that he was like
well no and i was like then stop lying
to yourself

122
02:01:00.000 --> 02:02:00.000
and so he ended up taking the thing down
and i was like dude like the thing is is
that as much as like everybody gets
upset about so think about this is from
a logical perspective for everybody's
listening
if we're like this guy's broke right
this guy's broke and he's pretending
like he made all this money
he's already broke why are we upset he's
broke yeah
we're like
he's lying about having money okay well
that he doesn't have money then why are
we what are we upset about
he doesn't have money and the thing is
is until they learn the lesson they're
never gonna get
anywhere big and by the time they do get
somewhere big they'll learn the lesson
and they won't be full of [ __ ]
yeah i don't know i i don't get as i i
don't get as upset about it because i
just see it as they don't know any
better i don't see it as malicious
intent
yeah
now i'm sure you've ran into quite a few
of those scenarios through your click
funnels
days and experiences because a lot of
those a lot of those guys like obviously
there's good utility of this software
for sure like it's an amazing platform
but there's a lot of people that use it

123
02:02:00.000 --> 02:03:00.000
who just like lie about their [ __ ] and
sell like make money online courses that
shouldn't be i feel like for sure yeah
and the thing is is and i i have a lot
of love for the industry because
almost everything i've learned has been
from that space you know what i mean and
so when i think about how much money
i've spent in total for like the
internet marketing courses and seminars
and coaches and masterminds that i've
spent i spent more on my four-degree
four-year degree
and that didn't tell me nearly as much
and so if we really want to get real i
think the problem is in the expectations
that are being set
i don't think there's anything wrong
with trying to teach somebody how to
make money online or how to teach money
teach someone how to make money using an
atm machine or teach money how to how to
how to be have a marketing agency or
teach money how to become a videographer
teach me how to become a better
hairstylist i don't think there's
anything wrong with that i think the
problem is that people think that if
they buy one course they now should be a
master entrepreneur and so it's like how
can you take 120 credits in college
which is you know 40 courses just to get

124
02:03:00.000 --> 02:04:00.000
a basic degree and then somehow assume
that you're going to become a master of
entrepreneurship from one course
it's it's it's a it's a messed up
expectation that people have and that's
why they get upset no one's upset that
they pay 200 000 and they give four
years of their lives and they can make
the exact same amount of money as they
could graduating from high school
yeah no one's upset about that and it's
because they don't set the expectation
that way
yeah when i realized what went into a
successful company from a marketing
aspect and how little my marketing
degree actually was impactful of that
and how irrelevant it actually was i
became pretty jaded of the whole
post-secondary system to be honest
so totally i i definitely know there's a
huge place for like high quality
education
in uh e-learning space for sure
totally and how do you learn stuff
apprenticeship i mean that's how they
did it in the olden days we just have
tech that allows one person to be
you know many people to be an apprentice
from one the only difference is just
tech has has changed the way education
works and i think that the space has to

125
02:04:00.000 --> 02:05:00.000
catch up it's so new like formal
education has been around for a hundred
years
like this has only been around for like
20
maybe yeah you know what i mean and if
you you can you can count the dan
kennedy the old direct response mail guy
so you can kind of count that but like
in the way that we kind of all consume
it now with like modules and courses and
videos and things like that like it's so
new and so like there will be i mean gym
launch is an example like gym launch is
going to go to 250 million like it will
um yeah and i mean as long as they
execute on things they need to do but
they have a very reasonable strategy of
getting there and so
what why isn't there an academy for gym
owners
like are you expected to just like learn
how to just run it like where are you
going to learn how to run a gym the
business of running a gym is very is no
one teaches it and they should
and so it's like what it what does it
look like how would we how would we
structure it and what expectations would
we set if we were really trying to do it
right and that's what we're trying to do
at acquisition.com you know what i mean
and obviously companies that we start
working with they're not perfect of
course they're not but we try we you

126
02:05:00.000 --> 02:06:00.000
know we've got years to build this brand
and slowly get better and better and
better just like anything i think people
have these crazy unrealistic
expectations of just other humans that
they don't even apply to themselves
yeah no i agree and i think it will
eventually get more in the direction of
where people see the value and these
sort of things relative to like when you
actually just like compare and contrast
your post-secondary education versus
like a course
you know there's there's a huge delta
and like somehow people still will
perceive it as
ripoff scammy whatever and somehow
school is fine even though
how much practical information is there
in the school part
not a whole lot dude i i was learning i
was taking business courses from
teachers and
and and teachers assistants that are
making 20 you know 5 000 a year and i'm
not saying there's anything wrong with
making 25 000 a year but like if the
whole point is to teach us how to like
make more money
the entrepreneurship degree i found the

127
02:06:00.000 --> 02:07:00.000
funniest of all i'm just like
why like why are you here if you're
teaching entrepreneurship like you know
unless you're retired like harvard
stanford sure some of those professors
are are g's you know what i mean and
they really
just want to give back and like they're
savages like they've had billion dollar
exits and they've done multiple like
they're legit you know what i mean but
the thing is is i think there's just a
huge amount that are underneath of that
that are just not you know and i think
anyways not to we that horse is probably
dead on the ground and just
i want to talk about your personal and
professional life balance so
obviously you
and layla i'm assuming have some sort of
structure at this point or maybe you
don't i don't know for like how many how
many hours are allocated to
you wake up
you
i don't know like what you have a
morning routine and then how do you
schedule out things and date nights or
how does that look
yeah we do the same thing pretty much
every day so we wake up we have coffee
we work

128
02:07:00.000 --> 02:08:00.000
we have lunch
we do meetings in the afternoons
we walk
we go out to dinner
we come home
we'll usually have more dessert and then
we usually watch an episode of a show
then we go to bed and i do that
basically every day so you what you have
the same sleep schedule and you wake up
at like 4 a.m at the same time or
whatever it is
i wake up when i wake up um it usually
is like today i woke up at probably like
4 30 but
4 30 to 5 30 is when i wake up i mean
whenever my rem cycle ends i just wake
up with my eyes open
okay and then you
get up you go make a cup of coffee and
you sit there for like how long is it
until you're actually working in
probably 45 minutes probably 45 minutes
layla and i hang out we have our coffee
we watch the sunrise
chit chat about the day chit chat about
whatever
um
and then we work and i mean the the two
biggest life hacks that i've had
for
being productive that i still do is
number one i wake up early and i start
working pretty much immediately

129
02:08:00.000 --> 02:09:00.000
i still consider it you know i'm not
transiting anywhere i'm not getting
ready i mean from the time my eyes are
open to the time when working is
probably 45 minutes
and i started early so that's one and
the second one is that i just don't
schedule anything before lunch
and we're we're pretty we're pretty
vigilant about that even with all the
demands of time and all that stuff i
have until
basically 12 30 every day um
that i don't take really any meetings
and that's that has i think those two
things together have allowed me to
i mean if i start working at 5 30 and i
have until 12 30 i have a full work day
completely uninterrupted every day
before i do
things like this right like i did
nothing before i talked to you today do
you have like a task
from melanie to for that five to 12 30
slot where it's like you're gonna work
on your book for this or you're gonna
film or what whatever
yeah okay yep and and it's also because
the nature of my work compared to
uh layla's is different layla has
far far f
more
um
tasks and like she has a lot more like

130
02:09:00.000 --> 02:10:00.000
10 to 60 minute tasks and i have way
more like 40-hour tasks
so like if i need to if i need to create
like an entire
sop so one i'll give you an example so
one of one of the things that i have to
build right now is um our database
marketing system so it's a system that
we do with all of our portfolio
companies which basically creates
compliant claims
allows us to track
customer metrics and customer results
at different intervals within the
company how we translate that into
headlines and guarantees
within the product and how it translates
into marketing messaging and so like all
of that kind of all works together it's
a big thing that i have to put together
you know i mean there's lots of assets
there's like here's the surveys here's
how to interpret the surveys here's how
you translate them into headlines and
guarantees and here's what the
compliance looks like all that stuff
right and so like that's a big thing i
have to do layla's tasks are typically
not like that it's hers are more like uh
have four interviews with
you know this role that we're looking at
with uh one of the portfolio companies
so it's like they have a director of
sales and she's gonna interview their
final candidates to to make a
recommendation right so it's like

131
02:10:00.000 --> 02:11:00.000
it's she has way more tasks than i do
and they're just as important they're
just different in nature
and if you guys don't finish like let's
just say she's going through her bullet
point list of tasks and she doesn't
finish them by
lunch or your meetings in the afternoon
do you just like chop them off in the
middle or do they carry through and
sometimes you'll have a full work day
where you work for like 12 hours or
how's that typically play out
no they just start over the next day you
know i mean there's an there's literally
an endless supply of work so you know we
just
and that's where i think prioritization
is important a lot of people just don't
prioritize well so they do lots of stuff
but they don't get anything
done that moves the needle
when do you film is it in that eight
hour block when you wake up
um
yeah sometimes i mean a lot of the stuff
is repurposed and caleb's you know
coming in and he's building his uh the
media team out uh you know for this uh
mostly because like i'm not
i want to work on businesses um yeah
more than i want to make like the

132
02:11:00.000 --> 02:12:00.000
specific videos and i don't think it's
sustainable um and so i didn't want to
create and unsustain i didn't want to
scale up to something that was
unsustainable to then scale it back so
what i'm doing now is very is
comfortable for me this is like
i make you know a handful of videos
every few weeks and i usually do them in
one spray i'll just sit down and i have
a couple things top of mind i'll make
the videos and those get spread out and
then we've got you know podcasts like
this where they'll they'll repurpose
different chunks and so that that
becomes content that also becomes the
clips and so
the vast majority of the short stuff is
repurposed uh and increasingly over time
more of the other the longer clips for
like youtube will be repurposed when you
sit down for videos that's like once a
week you just like blast off and talk at
the camera for like four hours or like
how do you structure that
uh because you have you probably have a
much better process than i do
well the fact that i think you've said
somewhere that you do it once a week or
something which is like yeah or every

133
02:12:00.000 --> 02:13:00.000
other week or every other week yeah
and then you just make sure you have
enough clips out of that to make and
then if you have like a long-form
presentation
that you've done or like uh i don't know
like you've been to an event or
something that you can post you'll post
that but yeah it's kind of like whatever
you've thought of over the last two
weeks that's important and you just sit
down just [ __ ] talk kind of thing
you know have like somebody prompting
questions for you or anything
no it is it is astonishingly low
production
it's that's not a guy's it's not like
some some i'm trying to make it i it's
really low production
i have like i've i've this little pad in
front of my computer that if i think of
something that i think would be good i
write it down and then when i have like
two or three of them on the pad i'd sit
down and make the video that weekend you
know what i mean and if i get to the
video time and i'm not feeling one of
them i don't make it and so if i sit
down and i feel like making four i make
four and if i feel like making one i
make one because it like i know that if
i don't feel like making the video it's

134
02:13:00.000 --> 02:14:00.000
not going to be good and so i don't want
to waste the audience's time
do you
review anything before it goes live ever
uh
not really so you just let them clip it
and just assume that it's like it's
going to be whatever you direct a camera
yeah it's me directed camera so like i i
feel confident like i will stand behind
what i say yeah um
where where i feel like people have to
watch out is where if somebody's trying
to take on their voice that's something
that i would have you know a lot of
difficulty with but anytime you know
they want to take a transcript and then
like post it as a caption or post it on
linkedin or whatever like those are my
words like cool you know i mean as long
as it's not taken out of context which
usually they're really good about
yeah then yeah that's how we do it
do you do anything to get your headspace
right for videos like listen to music
get pumped up like do you do anything
like that
no no
okay you're making something um
no dude but like sometimes if you know

135
02:14:00.000 --> 02:15:00.000
you've got a film and you have like a
really dialed in schedule it's like this
is my filming block and you're just like
not feeling it
you know sometimes there's things people
will do to kind of like get their head
in the right space i wasn't sure if he
had any of those if i if my head's not
in the right space i just do something
that my head is in the right space for
so i'll say something that layla and i
are probably a little different about um
maybe we've maybe we've converged a
little bit but like
this is probably going to be against the
the discipline motive motivation
manifesto like mantra that is that is
predominant but like
people are like you got to do stuff that
you don't want to do
um
i i don't i don't do that a lot i i do
the stuff that i want to do
and i i just
if all of these things are high roi i
just
do the ones that i feel like doing
um and if they're all high roi then
it doesn't matter what order i do them
it's like today's a content day i'm like
well i don't feel like making content i
feel like writing a book then i'll write
the book and if the day the next day i

136
02:15:00.000 --> 02:16:00.000
was supposed to write the book and i
feel like making content i'll make
content they both get done i just do
them when when i when i'm feeling it
okay i don't know it's worked for me i i
have i am not a rules guy
i do not like rules
and so i like having freedom and so i
don't i try to apply that to as many
places in my life as i can
so one thing i can relate to a lot is
recently you showed your little like
little hallway cubby of an office it's
just like a dialed in [ __ ]
straight on you can't look to your left
you can't tell your right it's just a
wall
for me over the years the more i had
windows sound anything i can't even have
my door open where it's like i know
another room is
like in the steppable vicinity of me it
just needs to be shut so 100 i have a
hard time with traveling even too
because if i go sit down at a table
somewhere else that's on my office
it's very difficult so for you
over the years
this is a this is a mobile work studio

137
02:16:00.000 --> 02:17:00.000
so that's a table that has that has
things in it and it opens up and it has
like a screen so i can like have a
portable desk it's like
so i hear you i feel you yeah over the
years
did you kind of like
come up with certain strategies to shut
things out more because i feel like i
don't know if i heard this maybe i'm
imagining it but you said you had times
you even wore a hat to be like more like
tunnel visioned in
sometimes some of the lore that comes
out i don't know where it comes from
that no i've never like to like stay
more focused i just wear it because it
keeps my head hot that gets my head warm
um and i like it because i like the logo
and i like the hat
yeah so like wear that
over the years has your office just
become like smaller and smaller and
smaller to where you've like dialed in a
certain like you need to have a certain
space the way it is where it's like
you're not going to get as much work
done otherwise
i like a big screen that's about like
that's what i like having a big screen
and i like having a decent amount of
desk space that's about it and i don't

138
02:17:00.000 --> 02:18:00.000
know so if you were
actions
if you were overlooking vegas with the
office table right in front of the glass
door or the glass window would your
productivity be like half
or oh yeah
i mean i don't know what the percentage
would be it would be less yeah okay cool
so i'm not yeah i also get distracted
really easily like i mean when we drink
our coffee sometimes i just won't say
anything for like 30 minutes because i'm
just staring at the cars like you know
it's like watching fire i just like
staring at it
you know what i mean so like i i can't
have some people can't like
people tell me they're like oh yeah i
work and like i just put jazz on or i
put music on like
i i put earplugs in and if i'm feeling
really feisty i'll put headphones on top
of my earplugs like i need no music
though
ever no i've i know no god no i can't
think of i only oh then i'm just
listening to music i'm not even i can't
i cannot do more than one thing
so what about the phone do you leave it
on airplane mode and like chuck it out
of the room or what do you do with it

139
02:18:00.000 --> 02:19:00.000
yeah yeah if i'm if i like if i need to
crank i'll i'll leave the phone outside
the room
even if my phone's off and on airplane
mode just fit having it by me
distracting yeah
for sure then you like and then you get
the comp you know the compulsion like
check instagram or check twitter or
whatever
yeah have you found that harder to stay
dialed in now that you kind of like
you're so involved with social right now
to grow your platform to then bring in
these companies do you ever find
yourself accidentally deviating too hard
down the rabbit holes of social media
when you're checking stuff
it's like holy [ __ ] i've been sitting on
the toilet for 20 minutes now looking at
instagram
um
i uh
i don't i don't i don't think i think
i'm actually okay at it um as much as
i'd love to have like a damaging
admission right now and just say like
you know what i struggle with like i i
don't as much because i actually don't i
have to remind myself
to to like to do it and um

140
02:19:00.000 --> 02:20:00.000
i don't
i don't i have to i have to i have to
try like i have to try like i have to
remember to put stories up i have to i
have to re i have an alarm to ch to
respond to comments and stuff because i
otherwise i i just won't
um
that's not something your executive
assistant could do if they know how to
speak you're like you yeah it's the
voice thing i'd rather no i want the
stuff if it's going to be me i'd rather
respond to five people and have it be me
than have 100 100 percent of people
being responded to it and not being made
you it's wild so instagram doesn't have
like an admin feature where you can just
like assign admins you have to like
actually physically give people your
profile like how is that not a thing a
thing yet it makes no [ __ ] sense
i don't get it there's a lot of things
that don't make sense yeah
um
sleep by the way i don't want to forget
your sleep hygiene is like your like a
militant schedule go to bed at what is
it like eight or nine or something like
you're pretty rigorous about that right
yeah it used to be i we go to bed a
little bit later now um we noticed we

141
02:20:00.000 --> 02:21:00.000
both noticed that we felt like we were
getting better quality sleep going to
bed a little later
um so now we go to sleep around like 10
um i for the whole period of time that
we were growing gym launch we we were we
were asleep by nine so we really just
pushed it an hour i would say both
things have changed by an hour so i used
to wake up between like 3 30 and 4 30
and i used to go to bed you know i would
be asleep by 9-ish and now i'm asleep by
10-ish and i'm between 4 30 and 5
30. huh so it's like six and a half to
seven and seven and a half hours sleep
you don't feel like you need eight to be
top tier or anything i don't even i
can't sleep eight
i i mean i haven't i s i would say i
sleep eight hours like once a month and
i feel like a newborn child but
you know
most most days i i don't
most days i wake up and it's
and this is going to sound really corny
um but i wake up and i'm like really
excited to start working i'm like oh god
no that's not corny at all i'm doing
tomorrow you know i'm like oh i can't
wait i'm like i just finished the first

142
02:21:00.000 --> 02:22:00.000
three chapters i can't wait to start you
know chapter four today like i finally
have like a good framework for what i
want to hit on or
um oh we've got like that interview with
like that new you know vp of ops for a
new company like ah that's that's gonna
be a good one they've really cool
experience i'm looking forward to
talking to that person or you know we
have this podcast i was like i'm really
looking forward to meeting derek and i
know you've done a lot of really cool
stuff and i was like i'm just really
looking forward to it so it's just you
know stuff like that
it's funny i don't want to miss out yeah
the paradoxical kind of like screw
yourself situation that happens where
mo what i know like a lot of successful
entrepreneurs who love what they do
it's
you have a hard time even getting to
sleep because you're so excited about
the next day to get started
and then as a result your sleep quality
gets [ __ ] up and then it's harder to
work well the next day
and it's just a vicious cycle that
continues do you ever find that happens
to you where it's like getting to sleep
is issues falling asleep yeah like
i like try to keep my eyes open
um yeah i fall asleep

143
02:22:00.000 --> 02:23:00.000
real easy
this okay so one thing that i'm sure
you've seen as much as i have is the
absurd
exorbitant amounts of like
bio hacks that people in our space use
to optimize everything so like whether
it's sleep
whether it's like whatever it is like
what are some of the
ones that actually
stood the test of time for you that you
felt were impactful
versus things that you tried that were
just like stupid because like even when
it comes to sleep there are people that
have like a chili pad on their bed they
have to have the temperatures at a
certain thing like some of these things
i do get but then some of them are like
over the top for sure at a certain
degree
so i think like all right so
my big picture response to biohacking in
general is that placebo is a very strong
effect right and so i think
99 of biohacking benefits come from
placebo hey
it placebo effects are still effects so
like you know more power to them but i

144
02:23:00.000 --> 02:24:00.000
think where they go wrong is that they
become superstitions and so then they
can't fall asleep without the chili path
they can't fall asleep if it's not
perfectly dark they can't fall asleep
unless it's silent right and that to me
feels like a handicap and then and then
what happens is just to have baseline
sleep you have to have 100 things in
line right and so that's where i'd never
want to be which is why i'm a big fan of
like there are no rules which is like i
don't i don't have a strict bed time i
go to bed when i'm tired you know when
i'm tired and i wake up when i'm not
tired and that's and if i like there was
a day two weeks ago where i just like i
just felt out of it and i
got up i worked for like two or three
hours and then i slept for another four
hours after that i just felt completely
and i went and i went to bed that night
i don't know what it was
i don't know if i was sick i have no
idea but i just like i i didn't feel
productive at all i was like there's no
point in me sitting in front of the
computer like my brain's not working
yeah so biohacking in general though um
i mean
i think that the things that people
there's like
does it is there a statistical
significance and what's the effect size

145
02:24:00.000 --> 02:25:00.000
right like you know this stuff more than
i do um i think the vast majority of
effect sizes are irrelevant for just
about everybody and so it's just the big
stuff you know what i mean and i think
that it's the same thing with training
it's like
progressive overload
do more stuff for a longer period of
time like eat enough protein and sleep
and do that and do that for 20 years and
you'll be big you know what i mean like
that's that's about it um and same thing
like you know with the sleep stuff it's
like i do think that having a cool cool
dark room really helps i think it helps
i think it helps you fall asleep faster
can i do people in india fall asleep
every day when it's 85 out and they
don't have ac
every [ __ ] day and you know what they
wake up and they get to work and so
how important is it i don't know there's
people there who live a very long time
and they do just fine so i think a lot
of us have just like gotten pampered and
gotten really weak and that's always
been like my biggest fear was just
getting soft and that's why i just try
not to like
believe in too many of these
superstitions even if they worked how
much do i care
do you do
sauna or cold plunge or any of that

146
02:25:00.000 --> 02:26:00.000
stuff
no i make a one cup of coffee in the
morning no cold showers bro what are you
doing yeah no no red lights sauna i
don't even know how i function you know
like how do i do it without gonna if i
don't get my cold plunge in i can't talk
to anybody you know yeah i was on this
podcast late recently that i just uh
really bombed um and it was because i
think that the founder and i kind of
disagreed because he was like man if i
don't work out i just you know i have a
horrible day and i was like
i don't have that experience at all i
was like i have more energy when i don't
work out dude i wish i wanted to talk to
you about that too as an entrepreneur
like the roi on lifting hard especially
to failure and the effect that has on
fatigue for
like i find days i don't work out better
for productivity personally of course
yeah i'm exhausted i mean if i train
hard yeah i'm [ __ ] my cns
like
i'm good on for like interviews and
meetings because i'm like way more
mellow but i'm not like man i want to go
do this stuff i'm like i'm dead yeah if

147
02:26:00.000 --> 02:27:00.000
i do leg day i don't feel good
yeah i'm not like stoked at work i'm
like [ __ ] me i want to die
yeah i eat a bunch of pancakes then i'm
like i could take another two hour nap
yeah
no exactly
i don't know i always wondered that like
when guys are like oh i don't feel good
if i don't exercise i'm like are you
going for a run and getting like sun or
like what is your workout because
like for me i'm like if i'm going to
failure in the gym i'm getting home and
i'm like i'm my brain is at least like
50 capacity what it was before i went to
the gym so totally yeah yeah and
and there's also like you know how hard
do they train and i and you know what
and like i don't want to look at
somebody like i don't think you're
training that hard i don't want to say
that because like how's that going to
make a friend probably not so i just
said okay i guess that works for you you
know cool and that's not me saying that
about that kind of thing
yeah how do you time your workouts being
mindful of that because like for me
like my gym i go to
it's less busy if i go earlier in the
day but at the same time if i go and do
legs at like i don't know noon i know

148
02:27:00.000 --> 02:28:00.000
that my brain is gonna be especially my
post-workout meal too the amount of like
carb fatigue i might get when i'm like
slamming you know all my post-workout
nutrition and then sitting back down and
trying to be mentally sharp as if i'm
like if i could compare like fasting to
with coffee versus legs and post-workout
meal and trying to do the same thing
magnitude difference of work quality so
like how do you play that into your
schedule
i mean real talk i don't train that much
um i'm in a season right now because i'm
building acquisition.com that i'm not
training nearly as frequently so i was
actually talking i we actually did a
collaboration uh with uh stan efferding
do you know him
he's sponsored by merrick health
oh okay yeah yeah so um yeah stan and i
trained over the weekend
and i was talking about how like i was
like yeah man i'm just probably training
once or twice a week right now and he
was like dude enjoy the fruits of your
labor he's like you just stay jacked
because you already put the work in and
it was kind of interesting because i
thought about this and it was kind of

149
02:28:00.000 --> 02:29:00.000
like having passive income uh because
like we've already built the asset of
muscle and there's still work that has
to be done but it's just much less work
to maintain it and so it's like there's
a little bit of work that you have to
maintain the passive income so this is
like a passive body for me i'm passively
jacked
uh right now yeah when i was actively
jacked i was bigger i was 250 at my
biggest what are you now i'm like i'm
like 218. i'm like 30 pounds less
this is me like
five
just under six like a hair under six
okay
250 pretty hefty still that's six oh i
mean i was big
yeah
i was pretty big um yeah i was strong as
hell it was great uh but you know it's
but like that was a season for me that
was like gym launch and i was jim you
know jim lords is the community so i had
to look like a gym lord um and i you
know i wanted to be the biggest baddest
[ __ ] there and so
i trained like it you know i mean like
my hips were killing me my you know i
had all these you know little you know
little
bumps and bruises you know what i'm
saying little itty bitty micro tears

150
02:29:00.000 --> 02:30:00.000
everywhere
and it was fine you know i mean i'm good
with it it was a season but like
i i don't see myself getting much bigger
than i am now if i tr if i train hard
for like 10 days i'll be at 2 30. um
yeah but
um i'm
this is just not my priority and the
thing is i'm sure you know like
the more the bigger i am the more stress
it's going to put on my organs and my
heart and i'd rather live longer and so
yeah this is me this is my passive body
did you have sleep apnea at all when you
got to 250
probably i mean i got two nose
operations
so
i score less now apparently yeah
yeah i had to i have to use a cpap
machine because my neck just like
yeah but massively
massively impactful on sleep quality
though if you like efforting talks about
cpap all the time too it's like a huge
needle mover
we gotta talk about though you're 35
pounds in six weeks video i just put in

151
02:30:00.000 --> 02:31:00.000
the chat i don't know if you can see it
i had a roommate whose name was greg
knuckles he's really big in the strength
space an amazing name he's one of the
two smartest people that i've ever met
but also
stupid strong anyways he was like i read
this research paper what if we had you
lift six times a day but for like 10
minutes each time and i was like cool so
i set a timer and every 45 minutes i
would go and do one set on three
exercises then i'd go back to work i did
that and that's when i gained just a
tremendous amount of weight coupled that
with another thing that he had done
research on which was like a pure
carbohydrate diet with no fat and so
basically the efficiency of fat
conversion to fat that's stored is
almost 100 the efficiency of
carbohydrate storage into fat is lower
so the idea was like i had you know 200
grams of protein and like 800 grams of
carbs and basically zero fat yeah i saw
what you were eating it looked like it
would be awesome for a day and then
horrible after that horrible and like it
was not sustainable but i put a ton of
weight on and i put a ton of strength
from there what i did was i dialed back
the total volume but i kept the split
you talked about every 45 minutes that

152
02:31:00.000 --> 02:32:00.000
was natural
that was natural
100 percent that was due
okay so in this video the picture though
it looks like the peak i've ever seen
your physique like that
i wasn't as lean i wasn't as lame the
peak i mean
so is this picture i could show you a
peak physique let me see i'll look at it
real quick okay because maybe this is
just your editor putting this picture up
and they don't actually oh no that
wasn't no no that was after i started
tier two
sorry there's another one where i did so
that okay
two things so i did gain 35 pounds in 16
weeks sorry i get 35 pounds in six weeks
that was 100 natural that was uh
that was when i owned my gyms right that
was the one where i did for every 45
minutes
so the big article on muscle and fitness
that was that one
so these pictures yes you can see how
people are finding it misleading if you
look at the comment sections it's all
like are you sure yeah yeah yeah yeah no

153
02:32:00.000 --> 02:33:00.000
the the i'm sure the video guys just
grabbed it from like more yeah stuff
but no but i well now i want to show you
because actually if you google alex from
mozy 35 pounds the article that comes up
on muscle and fitness is the actual
before and after
for the 35 pounds
and
i mean i was showing caleb a video of me
doing i think it was like four 450 for
like
i want to say like 15 or 20 i don't know
it was a lot
um and i was i was squatting 405 for 20.
i had just about a 400 pound bench and
that was that was all natural that was
those are my natural numbers
okay how old are you here this is 2015
i was 20
[Music]
2015. i was 25 or 26.
okay
um okay cool i'll put up the picture so
people know that which was which because
obviously everyone who saw that video
and it's gotten some steam and i got
tagged a [ __ ] ton in it because
everyone's like derek you got to check
this out
but

154
02:33:00.000 --> 02:34:00.000
yeah it's uh you know that's still a
really impressive before and after oh
for sure six weeks weeks and this i
think speaks to why
you look the way you do
on
trt as well because obviously a lot of
guys on gear don't even look like
they're on gear
because they don't have the baseline you
know foundational infrastructure or
their genetics just aren't as good but
like if you've been trained for 16 years
like before i went on tier 2
so
as far as like you hitting your peak
mass and like peak everything like what
did you why did you get on trt and when
did you start and like why did you do it
to begin with
so this is when i got i don't know if
you can see it so that was when i was
250.
it's from 3d delts bro jesus yeah and
this was this was this was uh 16 weeks
earlier
jesus
but this was actually a two-year process
that i did with dr trevor cash have you
heard of dr akashi
yeah my business partner at merrick
speaks very highly of them

155
02:34:00.000 --> 02:35:00.000
yeah i mean trevor's a trevor's a
absolute off the charts genius way out
there
um
and so
only reason i even did trt was because
he was like i will i will oversee it i
was like okay cool um and so i was
always really really really nervous to
you know put anything in my body
which is why you know i i didn't want to
do anything but then i got my
testosterone checked twice so actually
this might be interesting so after i did
that big 35 pound jump i got my
testosterone check so i was 25 years old
so that's supposed to be peak
testosterone i did it in the morning
after i trained so like everything
should have been 100 aligned and my
testosterone at that point and that was
after bulking overfeeding sleeping 10
hours like everything i possibly could
it was 270.
and
uh
trevor when i told him about this he was
like he's like oh you don't have
testosterone he's like you're just
incredibly receptive to testosterone
he's like so you don't need much
he's like so he's like these ranges are
completely arbitrary he's like you know
you could and i looked the way i looked
there and was doing the numbers that i
just told you

156
02:35:00.000 --> 02:36:00.000
with 270 as my you know my testosterone
levels
and then fast forward
uh to 2018 or 2019 i can't remember what
a year was i think it was 2019. uh fast
forward to 2019 um i did my i did my
blood levels again for like insurance or
something camera was um and they and
they tested it and i was like 74. it was
super low and i'm sure it was stress and
whatever um
and they were like almost were in shock
i was like no my last one was really low
too and that makes sense and so um
anyways they gave me grt um
and trevor's just been overseeing it
since and i just stay in the normal
range but if i if if i have my brothers
i'd prefer to live a long time and so
that's where i'm at with it this was a
cool experiment for me
it was fun i got to like see what i you
know i will say this is like there
definitely was a look that i wanted to
achieve that i spent 16 years trying to
get naturally that i was able to achieve
and i and i now like some people have
this thing where like they get to a
certain size they're like i want to keep
getting bigger
i got to there and i was like i'm good
like this is fine you know what i mean

157
02:36:00.000 --> 02:37:00.000
and um and i'm content how i look now
and i will
probably
lose a pound a year between now and when
i'm
50. i'll just probably just slowly lose
a pound a year and i'll be a tight 195
you know when i'm when i'm when i'm
older and i think it's natural and yeah
i'm good with it it was it was a season
it's just like it's so funny because
like right now
people see the way i look and probably
see the way you look and like they
assume that fit i mean i get comments
probably like you do like at the airport
people were like oh i'm guessing you're
going to the gym i'm like no
not i'm actually not going to the gym as
a matter of fact i actually barely
[ __ ] trained just so you know yeah
yeah i actually barely trained at all um
but there was a point i was gonna make
um
it's all good
it's like now your current diet like you
were gonna you said you were looking to
lose a pound a year you're mindful of
health you're trying to downsize et
cetera but oh i've been doing it for 20
years that's what i was gonna say i've
been doing it 20 years like most people

158
02:37:00.000 --> 02:38:00.000
who are like into fitness like they're
still in their first five years they're
like really into it it might do well
then give it another five and then give
it another five and then give it two
more and then that is when i decided to
pit right
yeah
i put 17 years in yeah
your current diet
to
sustain and kind of like hit your like
obviously you have very low baseline
requirements for sustaining because you
put the work in you've built up that
bank of like muscle tissue essentially
and you can kind of just cruise a little
bit
what is your
current diet is it like you still try to
hit your 200 grams of protein per day
and then you just like backfill with
whatever you want and dessert and like
dinner or whatever that ends up being
sort of thing
100 that's all i do i have my two 200
grams of protein and then i just
backfill my calories with whatever i
feel like what are your primary protein
sources
i do that bar in the shake in the
morning i have the i have the beef in
the and the steak
uh for lunch and then uh so my breakfast

159
02:38:00.000 --> 02:39:00.000
my lunch are always the same like
they're always the same and i usually
have i usually knock down like 150 by
lunch so that when i go to dinner i
don't have to like think about anything
and then i can just eat whatever
when do you this is that a bar and a
shake or meal one that's like a protein
bar and like two scoops of whey protein
or something yeah like a 30 cal yeah 30
gram shake i get one of the i get these
the pre-made
like the box ones that are like a buck i
just do that it's easy
and you do that during your like 4 30 5
a.m to 12 p.m window before lunch just
in the middle of it i do it like 9-10
9-10 somewhere in there usually when i'm
that hungry
and then noon you said steak like uh
like what 8 ounce 12 ounce 16 ounce
yeah usually 12 ounces or 16 ounces of
uh
some sort of meat it's usually ground
there's either ground beef or it's steak
anything with that what would you say
you had with it ketchup
okay okay no like potatoes or anything
nothing i said sweet yeah i'll have
sweet potatoes like a sweet potato man

160
02:39:00.000 --> 02:40:00.000
okay i know you said something i
couldn't remember what it was and then
your dinner is like whatever you and
layla feel like eating basically
yeah okay so we'll go i mean we go out
every night and you know i usually have
a meat
and a carb and a bunch of bread
and
appetizers and dessert and i do that all
the time and that's fun that's like what
we do you know it's like we enjoy that
and i don't even even say that i'm a
foodie it's just i have a
low roi on tons of food during the day
because i i feel like i get more
lethargic if i if i do yeah
if i do that so
i i
prefer to eat never if i could just not
eat at all that's why i was surprised
that you
gauging the roi on this massive bulk is
like i feel no different i'm like but
like my brain would be [ __ ] trying to
do that much food it was spaced out more
though you know what i mean so it wasn't
like these huge bolts i mean i was just
eating all the time you know what i mean
and i think that like
it's if if right now because you and i
are probably more sensitive like if i
read a big thing now like that i would

161
02:40:00.000 --> 02:41:00.000
be destroyed but if i did it every day
either either i become unaware
of
the fact that i was lethargic or
i got used to it whatever it was
you know it wasn't
we still made money companies still grew
okay the last thing i want to talk to
you about in regards to drugs this will
be the last topic is smart drugs so this
is something that is heavily abused in
the entrepreneurial space guys who are
on [ __ ] tons of adderall modafinil a
bunch of different medications
supplements etc
what has your experience been like if
any
with smart drugs nootropics stuff like
that
yeah
um
i'm shooting nicker out right now um
okay so i'm definitely a stimulants guy
uh
i
we drink a cup of coffee every day so i
have that
um
trevor wrote me like a stimulant cycle
when i was like in this period of time
where i was like i have to work so much
but the thing is like i usually like if
i get to a point where i feel like i
have to work like that it's usually

162
02:41:00.000 --> 02:42:00.000
because like something's wrong like i
need like
i don't need to push harder i need to
pull back and see why i have to work
this hard and so in some ways it's
almost like a leading indicator of me
needing to delegate or push something
um
and so that's that's what it's become
when i was like younger and thought i
had to push through everything
uh i was like i just gotta grit down
like you know do the boring work like
shit's gotta get done and i think
there's a season for that but
like i don't need to work like that and
it's not because like i can't it's
because it it's silly like there's more
work to be done than i can possibly do
which means i have to have other people
to help me and so why don't i just find
the other people to help me and skip
that and just move straight to the next
point of leverage so anyways all that's
to say um
we
he he taught me the concept of rotating
stimulants
um and so i try not to do besides the
cup of coffee which almost has more like
it's great time for layla and i um
that's the only thing i take every day i
chew nicorette when i feel like it um

163
02:42:00.000 --> 02:43:00.000
i've done nicotine patches which i
actually really like a lot uh like the i
think you're gonna quit smoking patches
those honestly feel like adderall
highly recommend like love love love
those i don't think a lot of people
realize how neuroprotective and actual
cognitive enhancing nicotine can be if
you're not
an addictive personality like if you're
not gonna get hooked on it brutally to
the point where you abuse it like people
who
as
ridiculous as it sounds people get less
alzheimer's occurrence when they smoke
oh yeah
for most angiogenesis yeah and i have a
ton of alzheimer's in my family
and so
that's why i've been like so you know
promotes short-term memory decreases
decreases appetite increases energy has
a 30-minute half-life like like prevents
household i'm like i'm in you know i
mean like uh sign me up so
yeah so big fan of nicotine i also like
if we travel i'll like forget to chew
like i don't i don't

164
02:43:00.000 --> 02:44:00.000
trevor told me and i believed him that
um
nicotine on its own is not addictive he
said activities that you associate with
nicotine are addictive
and so like smoking is addictive you
said nicotine is not addictive
um which of course i can't even make a
tick talk about that because they would
ban me off the platform which they did
they took the tick tock time they said i
was promoting drugs or something um but
yeah so anyways so i did that i still
chew nicotine um you know hey this is
not health advice whatever but at least
from everything that i've looked at it
doesn't seem like there's any
any cancer like if you just chew nico
rat or just
uh like put the patches on it doesn't do
anything so those two um
earlier on in my like entrepreneurial
career like i took adderall probably
like
twice a month you know what i mean and i
would take really really small amounts
because i think i'm very sensitive to
stimulants so i'd probably take like
five to eight milligrams which is like
not a lot
um but that was enough for me and maybe
it was all placebo i have no idea um but

165
02:44:00.000 --> 02:45:00.000
that was enough for me um
but caffeine and caffeine and nicotine
were the main ones i've taken modafinil
um
the thing that i don't like about that
in adderall is the half-life so long and
so
i uh i feel like i end up giving the
next day to have yeah
the product you know the productive day
and then you end up using it the next
day potentially to make up for the fact
that your sleep was [ __ ] i've never done
i've never done multiple days in a row
but a lot of people do get into that
vicious cycle oh really okay yeah i've
never done that um but yes it was always
like a
once in a it was like always like a once
a month twice a month thing and it was
usually
adderall not mobile i've tried modafino
but it was
i preferred adderall um
but the fact that uh
the nicotine patch plus nicorette plus
drinking a coffee
is uh and i actually prefer red bull to
coffee for like actually feeling
i don't know if that's the b vite wins
or whatever but like if i drink if i do
120 milligrams of caffeine versus a 120

166
02:45:00.000 --> 02:46:00.000
milligram caffeine red bull i feel it
way more than the format is definitely
impactful because like if i even those
like caffeine tablets you would get at
walmart or something you take a 200
milligram doesn't even feel close to the
same as like 100 milligrams from an
energy drink or coffee sometimes like
it's from the pre-workout versus a
tablet versus this wildly different
feelings even though the milligram
amount might be equal it's really
interesting how it works out that's
something i don't know anything about i
just know that i feel much different on
that so like if i have a big work day i
won't do all those things i'll do like
red bull once a week because like the
concept of cycling has stuck with me
because it's like if you're going to get
if you're going to get used to it then
you don't get the benefit so it's like i
want to use it i don't want it to use me
so
you know i'd have red bull once a week
probably now
and i have i just ordered patches
yesterday i haven't used them in like a
year or two but i was like oh yeah i
forgot about these um so i'll probably
use a patch uh as another thing that

167
02:46:00.000 --> 02:47:00.000
i'll do because i'm really trying to
finish my book and so i'll probably have
more stretches of like intense attention
um
yeah that's my
you know that's that's unlike uh peak
nicotine day like the most you'd use how
many milligrams in general
i chew the four milligrams uh
and i've had three today
okay
and what about like two to three days
probably yeah usually i'll pop one in
it's usually like when i i basically pop
the same piece in and then when i have
to like eat or drink something is when i
would like switch it so it's like i
drink coffee and then i'll pop one in
and then i'll have my snack and i'll pop
one in and then i'll eat lunch i'll pop
one in and then that's it so it's
usually like two or three a day
okay and as far as i just like having it
i like having it just like i just like
plop it into my lip yeah exactly
got it as far as like neuroprotective
nootropics for alzheimer's do you do
anything from like alpha gpc or anything
from that side of things to support you

168
02:47:00.000 --> 02:48:00.000
no
i don't take anything
okay um it's mostly because i i don't i
don't take a lot of supplements because
i don't remember
right
like i mean i told you i should have to
remember the better frankly i'm three
days late on my pin right now so like
you know i mean like i barely and that's
like i have to do that
i can remember to do that so i've been
uh
yeah i mean this i put next to my desk
so i can i have that right there and i
have my coffee in the morning and that's
about it
we've kept it pretty simple i don't you
know cold like cold plunge an outdoor
walk and red light sauna and
singing songs and affirmations and
i just it's very hard for me
no yeah i feel like some of that stuff
when you get too in your head about it
it's like almost overwhelming the
routine you develop to be an
entrepreneur and it's just overkill and
you'd be better yeah
i had a young entrepreneur reach out to
me he said hey man i'm really struggling
he said i'm doing something that my
mentor told me to do and he told me and
so he said my whole morning routine
takes me three hours and he basically

169
02:48:00.000 --> 02:49:00.000
did that whole checklist he's like i
walk outside barefoot 30 minutes so i
can like center myself and then i do the
red light sauna and i do float tank and
then i do like all this stuff right he's
like and it's just like it's killing my
dad he's like by the time i start it's
like you know 11 a.m
and uh he's like because he also needs
me to sleep this amount of hours and all
this stuff and i was like dude
sometimes the work just needs doing man
like like everyone i think i think a lot
of the stuff is pro
is productive procrastination or people
think it's productive procrastination
but it's just another form of
procrastination they feel like it's like
watching ted talks it's like you feel
like you learned something but like
you're not making more money like
you got to make 200 dials whatever way
you want to do that go for it you know
what i mean but for me like the longer
i'm putting it off the longer i feel
like i guilty about not doing it yeah
well i think i could talk with you for
hours about [ __ ] but i'm glad you stayed
thank you for staying three hours that
was a [ __ ] ton of valuable insight i
feel like for everyone in the audience
and for myself included and

170
02:49:00.000 --> 02:50:00.000
um as far as where to find alex
you're on at hormozy on most instagram
on the social platforms instagram tick
tock etc i think uh i think
if you type in my name you'll probably
find it but uh hormozy is the instagram
one
uh i think tick tock is
at a hormozy
uh and then uh twitter is at alex from
mozy okay
because people claim my name before i
could even get on the platforms
yeah that was something i wish i had the
foresight on is scooping up usernames
yeah but yeah anyways so go check out
alex and all the socials and if you are
a
um
business who's doing three million
revenue or more and you fit the criteria
that he has you know discussed and
whatnot uh check out acquisition.com and
check out his other podcasts like
there's a lot of stuff i went i totally
skimmed over from like the grind to get
to where he's at that is hugely
impactful for new entrepreneurs and i
definitely recommend you guys check it

171
02:50:00.000 --> 02:51:00.000
out and appreciate you on man
yeah
and if anyone's it's called the game you
could probably just type my name in
itunes it'll come up or spotify or
wherever it is that you consume audio
content oh for your podcast too right
yeah yeah yeah if they're into that
awesome dude appreciate you derek thanks
so much for taking the time thank you to
the audience i hope you guys found value
from this it means the world to me that
you you know if you're listening to this
right now and you tuned in
you know thank you

