SPEAKER_00
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SPEAKER_02
All right, we're live. Sam, how's Cancun? I don't know. Upstairs break.
What's up with your boy Ted Cruz?
SPEAKER_00
Yeah, what an asshole, man. He bailed on us. Us Texans.
Yeah, what a jerk. Whatever. I am going to Hawaii next week, though.
I'm going to be recording from Hawaii. So I'm bailing as well, but I'm not an elected official, so it's OK.
SPEAKER_02
Dude, the funniest picture was somebody posted this meme, and it goes, it's Ted Cruz. And it just says, I didn't go to Cancun, but he's got his hair braided like every girl when they go to Cancun.
SPEAKER_00
I saw one that was a missing poster. Like, have you seen me? Last scene crossing the border.
SPEAKER_02
So we're back, and we've been talking big game about how acquisition is done. That was both a busy time and a stressful time. And you were running a company that was doing 10 things, and now you're able to focus more on the podcast.
And we've been talking big game about this podcast is going to level up. What do you want to tell the people? What's the plan and how are we going to deliver?
SPEAKER_00
Yeah, so I'm working with Kieran, the guy that was on the podcast. Sean and I, you're going to have to work with them together. But basically, we're going to do a few things.
But our goal, I think, Sean needs to become top 10 in the business category, which is an official category. I think 100,000 listens per episode will get us there. So we need to do that.
And so there's a few things that HubSpot is going to do for us. The first is that we are going to have a dedicated researcher.
SPEAKER_02
So I'm going to just summarize. Going forward, we're going to level up the podcast in a couple different ways. We're going to go top 10.
Sam says to get top 10, we've got to have 100,000 listeners per episode, which is kind of a crazy number. Yeah, I think that's fair. 100,000 people listening every episode.
That's stadium. That's football stadium. More than a football stadium, which is pretty cool.
SPEAKER_00
Yeah, but a good episode of ours gets about a third of that. Maybe what's like 34? Are we at 40? I don't know what the.
SPEAKER_02
I think we're at about 30 now. So we've got to triple, basically, to get there, which we should be able to. So then how are we going to do it? HubSpot's going to stop with some resources.
We're going to do a researcher. We're going to do recaps, summaries, clips that we're going to post on Instagram, Twitter, YouTube, so clips of different little segments we talk about. We're going to have a dedicated email, like recap, that you can sign up for.
And then one other thing is we're going to try doing some live shows where we go live on Twitter Spaces or Clubhouse at the same time.
SPEAKER_00
So I think that'll be pretty cool. I'm writing that down because I forgot to write that down. All right, let's get into some ideas.
Let's get back into it. But first, did you see? What do you mean this week?
SPEAKER_02
Oh, yeah, dude, what happened? You started getting, like, what I saw was the node Coastlight, who's like a big dog of Silicon Valley, basically retweeting some guy who was retweeting your Twitter thread about what you learned from your friend Andrew about investing.
SPEAKER_00
But did you see that? And there were kind of some people were taking shots. So the tweet reached about 2 million people. And if you search, I was trapped, like, in the quotations, you'll see maybe 20 people saying, I was trapped this weekend.
I was trapped in LA with Kim Kardashian and Kanye West.
SPEAKER_02
Was that what they were making fun of you for? Because you said I was trapped with these Silicon Valley people.
SPEAKER_00
So there's tons of them. Then there's another one. It says, this weekend I was trapped in the ocean with a dolphin.
So if you go to my Twitter feed and I retweeted a few of them, some of them got, like, like thousands of times, or maybe hundreds of times. But I think a couple of them were a thousand. And it was interesting.
First of all, I want to say this. The whole I was trapped thing, it was kind of supposed to be like a joke. It was supposed to be like, you see, it was like I was teasing.
And I said the most powerful person and something like that. That's actually not wrong, I think. But I was obviously being hyperbolic as a joke.
I guess it wasn't obvious. And second of all, people were angry at me. And I'm like, guys, I didn't say any of this.
I'm just sharing one unique person's interesting perspective. People are like, dude, this guy's Sam is such a bro about the boys club. I didn't say this.
I didn't say I agree or disagree. I'm just saying this is one person's opinion. And it's really cool to share interesting ideas.
So I got roasted pretty hard.
SPEAKER_02
Yeah, you deserved it. It's all good. I got roasted as well this week.
We just get roasted.
SPEAKER_00
That's good. What did you get roasted for?
SPEAKER_02
I got roasted because of my opinion on the fucking bachelor. But you know, last week when I was talking about this stuff,
SPEAKER_00
I don't want to talk about it. Yes.
SPEAKER_02
I was like, I can't believe Sean said he agrees with everything this guy said. I was like, maybe I did say that. I don't know.
But I get back and listen. Obviously, literally, I don't agree with every word that somebody says. That's not my point.
I agreed with the point the guy was trying to make. I tried to explain it. But in general, I think it's good.
Somebody was asking me, they were like, hey, I've seen you've been growing your audience a lot lately because my Twitter kind of exploded to over 100k. And they were like, what do you think I'm doing wrong? And I said, I looked at your feed, and you say only reasonable, agreeable things. And I don't think reasonable and agreeable people is very notable to follow or share.
And so I said, you've got to take some risks. It doesn't mean you have to be controversial. But you have to have some part of what you're saying that people love.
And the way to test is do people love what I'm talking about is some people need to be hating your style or the content or your opinion that you're talking about. If there is nobody who's strongly disagreeing or really dislikes your style, then you haven't really put forth anything that is new, unique or bold. And so that's kind of like a back test.
So the goal is it go out there and get hated. No, the goal is put things forward in a bold style and have original opinions and say original things, say things that aren't just stuff that everybody already knows and agrees with. And the way you'll know you're doing that is periodically, you're going to get a bunch of people thinking you're an idiot or thinking you're a jerk or thinking you're too arrogant or whatever it is, those are natural consequences.
SPEAKER_00
We're both in the Get in Roasted Club. So congrats, fellow members. So today we have three ideas we want to discuss.
The first one is NFT, which Sean actually talked about this maybe a month ago, and I thought it was so stupid. And we've got some a follow up that proves that you're actually right. And I wasn't.
The second one is this thing called inside car buying, which I would love to start with. And then followed by that, following up, we're going to do this thing called coin market cap. But can we talk about the one that I suggested first? Because it might be quick, but I'm trying to buy a car right now.
Nothing like crazy fancy, maybe like a pickup truck or something, I don't know yet. But I found this site called insidecarbuying.com. My friend, Neville, told me about it. And if you go to it, it looks very old school.
The blog has not been updated since 2015. But I did some research on it. It has some good reviews.
And it has one of the most interesting value props I've actually heard of in a long time. And so I don't know if it's just this one person, but go ahead, Sean, what do you see?
SPEAKER_02
No, I just wanted you to explain it. Tell give me the two sentences of what they do for you.
SPEAKER_00
So you pay $500 and it's a money back guarantee. And what this guy does is I believe you tell him the type of car you want. I don't know how specific, like in color, but I imagine you tell him the year and model and any options or anything.
He scours the web, finds cars that match that criteria, and then negotiates for you and says, all right, this is the cheapest one. And if he can't get you a good deal or you can't save at least the $400 or $500 that you pay him, you get your money back. And it's so fascinating that this exists, because it actually doesn't sound that challenging.
He's probably just going to have a whole bunch of canned emails. But it's incredibly interesting, because this business model makes a ton of sense. And I think of what all this can apply to.
Cars is an interesting one. And whenever I see something like this, this guy's site, I think, wow, this is amazing. It looks like a sole proprietor.
So just one person, he's based on a white plane in New York. And I'm like, if you go to this guy's website, it looks like it's from 2008. Like it's really old.
But what happens if you put a little lipstick on this, package it a little bit differently? I think it's incredibly fascinating.
SPEAKER_02
This is the same par special. Finding these little niche things that are great bootstrapable businesses that just make a lot of sense. OK, so I like this idea a lot.
And I've also, when I went through the process of buying a car, I mean, you spend hours just looking, researching. And then you have to reach out. You have to go check them out.
You have to negotiate. So when do you do they negotiate before you've actually seen or test drive the vehicle or after?
SPEAKER_00
I'm not sure yet. I'm actually going to give them my money and sign up for this. The reason I hadn't so far was it looks so old that I wasn't even sure it was still in service.
But I'm going to sign up for it and give it a test, because he claims money back guarantee. I don't know if that's true, but we'll find out. But $400 is a good shot.
Like I'm looking at it.
SPEAKER_02
He says, on average, our average customer says $4,219. Maybe bullshit. But I would believe it because there is, like with cars, there's actually quite a bit of wiggle room around price.
And it's about somebody who knows how to negotiate and is not going to get fatigued by the process and just be like, oh, whatever I want. I just want this process to be done with. And so if this person, if they actually cared about how much they saved you, I would actually be even more excited that my problem with all brokers is that the broker's incentive is to tell you they're going to treat you great.
And then they want you off their books as fast as possible. So they want to match you with the thing you want to buy as fast as possible so they can get their commission and move on to the next client. And so that's the only thing I don't like about this is this person's incentive is to get you the first car that you're willing to buy rather than maybe the best car or negotiating a bit further and things like that that are totally aligned with you.
SPEAKER_00
Well, I'm not endorsing this particular brand, the service. But I think it's actually really interesting because I've seen a few of these things pop up recently. We're going to call them like, what's SAS stand for? Software as a service? Yeah, this is NAS.
SPEAKER_02
It's like NAS. Negotiator as a service.
SPEAKER_00
And I've seen a few of them. I think our good friend Andrew started one. I forget what they negotiate.
Do they negotiate with the table? SAS tools.
SPEAKER_02
So you're paying, I don't know what the hustle's paying, but I would guess the hustle's paying $1,500,000, maybe more in just software licenses for different tools that you're using, Slack and Zoom and whatever else. And what they do is they say, OK, great, hand us your bill. Like, we just give us your monthly P&L.
And then we're going to go call a bunch of people and we're going to save you money because we're going to go negotiate with these people. And it's called buyer.co. I think that's a great idea. I don't know how it's done.
We should ask Andrew next time he's on.
SPEAKER_00
And then there's a third one called Main Street, which isn't exactly the same, but a very similar premise, which is you upload your QuickBooks or whatever you use, and they find ways that you could save money because the government gives, like, let's say, and we actually did this manually because this woman who works for my ED is good at this, but it was like, all right, you can actually save 25% of your taxes because you have this many people on research and development. Or if you have someone in Canada, you can get a rebate here. And Main Street automates, and I believe from what I've heard, I have no insider information other than rumors, is that they're crushing it.
They're doing really well.
SPEAKER_02
They're doing extremely well. And I regret passing on and investing in them now very much. All right, so where else could you do NAS? What was the other nasty businesses that we could do?
SPEAKER_00
I have a couple of questions. No, I think cars is being touched.
SPEAKER_02
Right, so you're saying you could do this better, and you could do this and market it better? Great.
SPEAKER_00
I don't know how it would work, but I bet you if I spent a month researching it, I could totally figure it out and figure out the opportunity and build something here. So software is a good thing because we were a very small company, but we spent seven figures, probably, on software. A lot of people are doing it for, I think you could do it for, what else? You could do it? I mean, I bet a lot of companies already do do this for what you owe in taxes.
So you kind of hear these scammy commercials on the radio of, like, we help, we negotiate for you with the IRS. That's a huge business. But for some reason, I actually don't know if those are scammy or not, but they certainly appear that way.
What else is there?
SPEAKER_02
This is a few. So I will say also a business that we've talked about before, Do Not Pay, falls into this category, where they basically say, hey, you got a parking ticket? We will just hand it over. We will go and contest this.
We will try to get you off the hook of this, or we're going to negotiate it down. So I think they do a good job of this. There's some others that I think are interesting.
So one is venture investing. When you go and you want to raise around, most founders, what makes a great founder? Somebody who could build a great product, somebody who's great at selling customers, somebody who really knows a certain niche market, guess what they're not good at? They're not good at this fund-raising dance. And they're going up against expert negotiators, which are venture capitalists who are seeing hundreds of founders every month and negotiating term sheets with them.
And so maybe there's an opportunity in the tech world to be able to just hand it over and say, OK, cool. I will do the pitch with you. I will go and explain my business to you.
I'll tell you why it's so great. I'll answer all your questions about the business. But in terms of the round, talk to my agent.
Talk to Inside Fundraising. And Inside Fundraising is going to do the actual negotiation on terms, valuations, and handle all 10 firms I'm talking to. They'll all talk to that guy.
And then he'll come to me and basically say, hey, here's what I think the best thing is. So I think you could do it there. I think apartment searching or house searching is something you could do here, where it's not the same as a listing agent or a listing broker.
I think there's something else if you talked about, if you framed it as a negotiation service specifically. And so you could say, cool, you're going to use a broker anyways to go house hunting or go apartment hunting for where you want to rent. But when you get there, you call me.
And I'm going to save you money. And I'm going to basically, I'll make $500 a pop. But I'm going to save you $300 a month on your payments.
Another version of this could also be refinancing a house. I refinanced my house. And it was like the most painful, tedious process.
And I regretted ever agreeing to do it. Even though I knew I was going to save, I think, $600 a month, I think there's a refi pal who could refinance your house. Go through the whole refinance process and shield you from 89% of the bullshit.
And now you're only dealing with 11% of the leftover bullshit that only you could do.
SPEAKER_00
And I have three more examples. The first is for high paying jobs. So I've hired, I don't know the exact number, between 1,500 people.
And I would actually say I'm a horrible negotiator. I'm really bad at it. But I've noticed that the average person, there's a huge difference between people who are good at it and people who are not good at it.
So I've had people take a lot of money from me and get a salary way higher than what I was going to pay because they were such good negotiators. And I think there's a, by the way, is my gain too high, Abrayu?
SPEAKER_01
I mean, if you want to turn it down just a little, but it's not, it's nothing horrible.
SPEAKER_00
I've noticed a lot of people are really bad at negotiating jobs. And I have a friend who's an executive recruiter and he helps people negotiate higher end jobs, which that probably pay half a million or more. But I do think there's a world where you can get this for a $100,000 job.
You can turn a $100,000 job into $105,000 or $110,000. I think that actually could exist. The second one is I used to have this app that got shut down by the city of San Francisco.
But if you got a parking ticket, it would automatically fight it for you. What was that called? Do you remember that?
SPEAKER_02
Do not pay, that's what I was talking about.
SPEAKER_00
No, it was before that.
SPEAKER_02
It was even before that. I know the one you were talking about. Yeah, it got shut down, right? Like the city.
SPEAKER_00
It was the most effective thing I've ever seen. Like it told me before I even knew, if I was inside somewhere, like my house, it said, boom, you just got a parking ticket, we're fighting it for you. And it was awesome.
And the city of San Francisco shut it down, but it was so good. And then the third thing that I could bring to you about this, which I don't know what I can say that incriminates me or not. So I'm gonna say, I have a friend who got a speeding ticket recently.
And you know how a lot of the court, like this was in Kansas, this person wasn't in Kansas anymore. They were in Texas where they moved. And they had to fight the ticket because they thought that it was unjust, like it wasn't really happening.
You know how a lot of these, so you gotta go to court and a lot of times they're in Zoom, you know that?
SPEAKER_02
Yeah, now they're all in Zoom, yeah.
SPEAKER_00
Well, this person's sister is a lawyer and they were on speakerphone chatting with quote me and telling quote me what to say while like they were listening and like, and it was awesome. And it was fantastic.
SPEAKER_02
They were like a lawyer in your ear, like secret service style, you know, say this, don't say that.
SPEAKER_00
And granted, I didn't get away with it, but I had to pay a $200 ticket. It was nice having this lawyer in my ear. On your side, right? Yeah.
And so I think that that's interesting. And I'm like, that should exist for negotiating a salary. That's kind of intriguing thing.
So I think there's a lot of this whole category is actually really, really cool. And the reason why it's cool is if you do a good job, it's a no brainer to pay you money.
SPEAKER_02
Just like Main Street or just like a salary negotiator, it's like, I'm only taking what I get you above what they offered you, right? I'm only taking from the savings of your parking ticket. And so it's a very like non-scary, sort of a toothless pricing structure where the person doesn't have to feel like they're going to overpay and not get something. You only pay if you get it.
Incentives are aligned. All right, I like that. This is a cool one.
And I think there's also something cool about it. If you do this on the internet, let's say if you are the best car negotiator, this guy's in New York, he's going to service clients. You're in Texas.
He's going to service clients all across the country. And you could become kind of like the domain authority of doing this. And I think that's kind of cool as a solarpreneur style business.
SPEAKER_00
And we'll move on. But as a reminder, it's insidecarbuying.com. I'm not connected to this person. My friend showed it to me.
I just thought it was nifty. For all I know, this is a really common thing. I don't know too much, but it's pretty neat.
All right, everyone. Today's episode is brought to you by Imperfect Action, hosted by Steph Taylor. It's a podcast on HubSpot's podcast network, the audio destination for business professionals.
Imperfect Action is a bite-sized online marketing podcast for business owners. So join Steph Taylor as she answers all your business marketing questions that deep dives into the nitty gritty of online marketing, content marketing, social media marketing, and marketing for strategy for business owners. A few recent episodes include some of the biggest mistakes you can make with your launch.
Another one is why growing your audience feels so hard in 2022. And another one is five ways to make content creation less consuming. So check it out.
It's called Imperfect Action. You can look it up wherever you get your podcast. All right, you want to move on to the NFT?
SPEAKER_02
Yeah, you said nifty. So here we are. NFTs. All right, so where do you want me to start with this? Because this is like a big topic.
SPEAKER_00
I can start wherever you want. Well, let's give the background. Sean brought up digital trading cards a month ago.
And both me and Jack, I think it was, and a few other people were like, Sean, this is really stupid. Like, what are you talking about? Why would you ever do this?
SPEAKER_02
There's a company called Top Shot, is what I was telling you guys about, I think, on the podcast. And now I want you to go to the following link. I'm going to put it in here.
Cryptoslam.io. I just want you to go to cryptoslam.io and tell me what you see.
SPEAKER_00
Wow. Oh, wow. OK. Cryptoslam.io is a collectible ratings by sales volumes.
And NBA Top Shot in the last 24 hours has sold $45 million worth of stuff and is up in only 24 hours, 165%. In the last 30 days, which is around the time that we discussed this, they've sold $164 million for the volume. And they're up 1,200%.
And it's been about 5,600 buyers.
SPEAKER_02
5,600 buyers. Last 30 days. Just yesterday, or last 24 hours, 32,000 buyers, is what it says, which is an insane number.
And I got to say, the numbers for Top Shot are so insane that I am personally a little bit skeptical. There might be something called wash trading going on where people are just buying and selling back and forth between either them and their friends or them and a bot or a bunch of bots to drive up the value of the portfolio to make it look like, oh, wow, there's a lot of activity here. And it's really just, I'll pay you $10.
You pay me back $10. I'll pay you $10. You pay me back $10.
Like, that's a thing in crypto that has happened for a long time. And I suspect it's what's going on here. But that's a conspiracy theory.
What everybody else sees is that NBA Top Shot, this idea that we were talking about that I was like, hey, this is kind of interesting, but kind of weird. And you guys are like, what the fuck is that? That makes no sense. $45 million last 24 hours of gross GMV in the marketplace.
And they just raised money at a $2 billion valuation. So there's definitely some legit people that believe in this thing. So I'm going to explain NFTs as best as I can.
And I'm no expert, but I do my best here. OK. So cryptocurrencies came out and people were like, wow, this is amazing. There's kind of like a digital money.
There's a little digital coin. And for the most part, every coin is the same. If I have Bitcoin and you have Bitcoin and we swap, they're all identical.
It's like dollar bills, right? But what an NFT is, NFT is more like beanie babies. So an NFT stands for non-fungible token, meaning one of them is not the same as the other one, right? Just like I was saying.
SPEAKER_00
Bitcoin is fungible. What's fungible? Does fungible mean like bleeds?
SPEAKER_02
Fungible means like one can be swapped for the other and there's no difference. Got it. One Bitcoin is the same as all other bitcoins in theory, right? And non-fungible means when I own this LeBron trading card or I own this LeBron video, there may be only 200 of those.
And it will be different than a different one of Steph Curry doing the thing, right? They're not the same. They can't be swapped like all for each other. So anyway, that's what NFT stands for.
So this started a while back with CryptoKitties. Do you remember that? Did you ever hear about CryptoKitties?
SPEAKER_00
I heard about it at the dojo when I worked there because I loved it, but I didn't know what it meant.
SPEAKER_02
All right. So actually, I'll take it back. I'll make it more approachable.
So there's been different types of collectibles, whether it's Pokemon cards, baseball cards, beanie babies. There's a whole bunch of different collectibles out there, coins, different shit like that. And they have value because people enjoy collecting them.
And there's some rarity to them, right? Like a Charizard is like the rare Pokemon card. So it's more valuable than like a Squirtle, which is just like the common card. And so all of a sudden, a bunch of people give a shit about a thing.
And within that set of things, there's like a scarcity. There's only a limited number of them. So that makes some of the valuable.
And so you'll see Pokemon card sets going for like $40,000 nowadays, or a LeBron James rookie card of which there are only, I don't know, 1,000 or 10,000 of them or whatever, will be sold for hundreds of thousands of dollars. And the one that's in mint condition, the most expensive one sold for $1.8 million, right? So people spend a lot of money on these collectibles.
And back in the day with Beanie Babies, there was like, I don't even know what their princess the bear and clawed the crab and like whatever. Beanie Babies made these things and people started going nuts for them and started collecting them. And they were all of a sudden selling on eBay for thousands of dollars.
And it was sort of a craze. They didn't last forever, but some things last longer than others. Sports cards have lasted for a long time.
They still remain valuable. Beanie Babies not so much. That's what's going on now in the crypto world.
On Ethereum, which is the second biggest cryptocurrency, you can now create your own set of things like Beanie Babies. So I can go and I can make up a set of things that I'll call Beanie Babies. And I can make it on using Ethereum.
And I can say, hey guys, come buy it. And that's what a bunch of people are doing. And they're doing it with stuff like Crypto Kitties, which was the first big one.
They basically created a bunch of little animated cats. And you could buy this cat for like initially like a dollar. Then the price went up to $10.
And some were selling for thousands of dollars. And people were getting really excited. And then the hype faded away.
And Crypto Kitties went to zero.
SPEAKER_00
According to this thing you just brought up, Crypto Kitties in the last 30 days has sold $730 million of the stuff.
SPEAKER_02
Last 24 hours, Crypto Kitties $61,000 of volume. So not dead, but the same team that built Crypto Kitties, they're the ones who built Top Shot. So they basically pivoted the company to doing Top Shot.
What they did with Top Shot was they went and partnered with the NBA. And they were like, hey, NBA, we want to create. You already make money on digital trading cards, which are just trading cards, which are a piece of cardboard with just a picture on it.
But hey, with the internet, we can actually take LeBron James' dunking. We can take that highlight clip. And we can turn it into a collectible item.
That's just that clip, that highlight moment. And so that's what Top Shot is. It's a bunch of these little moments.
And you open up a pack. And you'll get five different highlights. And you're hoping to get a really famous player's highlight.
And most of the time, you get some average player doing some average thing. But nonetheless, that's what people are collecting. And so there's a whole bunch of these.
I'll show you one that I did.
SPEAKER_00
Where do you show this off at? So if you had a card collection, you would mostly hide it away. But everyone's probably frame it or something. What do you do it?
SPEAKER_02
So with these, there's basically digital displays. So on their website itself, you'll have a collection. You can share it.
It's like an Instagram account. You basically share it. And people can go browse your stuff.
What I did is yesterday, I bought a $600 display that I'm putting on my wall behind me that will rotate through all my digital art. And that's, by the way, that's one of the.
SPEAKER_00
What's that called?
SPEAKER_02
So I bought this one called Mural. It's made by Netgear and all companies. It's like, so this is one of the business opportunities.
There is so much volume going on in this NFT space that people will want to display it on their desk, on their walls at home. And there's no simple way to do it. Like right now, you could use kind of like a TV.
But that's pretty clunky. And it's like, it's a TV. It's kind of like overkill.
And then there's this other thing I want you to check out called Infinite Objects.
SPEAKER_00
I need to get art from my house. Should I just only? This is pretty neat. It is pretty cool.
I don't want to send a hundred grand though on a LeBron dunk. But I would.
SPEAKER_02
So let me explain slowly. And I feel like I'm a little all over the place. So let me explain a little bit slowly.
So I want you to go to this link that I'm going to send you right now. This is the first NFT I ever bought. It looks pretty sweet.
Tell me when you have it open. It was a Kobe Bryant NFT made by this artist called BossLogic. Can I've been following this guy BossLogic? You've probably seen him because he makes a bunch of UFC art and Joe Rogan like reshares his stuff all the time.
So he's this kind of just famous Instagram artist. And like he would sell some posters sometimes. And he would get like some rich people would slide into his DMs to like commission some artwork.
SPEAKER_00
It's just like a neat I guess a video is what it is. But it's yeah, it looks sick.
SPEAKER_02
Yeah. It's like a looping video. So he created a piece of digital art, which is an animated picture of Kobe Bryant shooting a fade away.
And he's kind of like fading away and becoming an angel because he passed away. Right. So it's called Forever Mamba. He goes to a website called Nifty Gateway.
Nifty Gateway is basically like eBay for all these collectives for like the crypto collectibles, right? eBay made its name on crypto.
SPEAKER_00
What does this have to do with crypto?
SPEAKER_02
It has to be crypto because I just made scroll down. I'll show you why. So if you scroll down on that page, you're going to see at the bottom all this data market stats, right? It'll say that the average resale price of this item is $4,000.
SPEAKER_00
But how is there an average resale if this is one of a kind?
SPEAKER_02
I bought this and I sold it. So I bought this for $824. That was when it was released.
All of them cost $824. And there was five minutes where you could buy as many of these as you wanted. So it dropped for five minutes.
A bunch of us bought them. So there were, I think, 429 people bought this thing for $800. So if you just look at the same piece of art, yeah.
So I got like number 200. Somebody else got like number one, you know, that sort of thing. So this guy did $400,000 worth of art sales in five minutes.
This artist and Nifty Gateway takes like a 15% cut. So then now look at like click global history down there and then click only sales and go to page. So global history, only sales and go to page four.
And the second to the bottom one, it says that curious goods bought forever. Mama number 236 from Sean Puri for $8,100. So I basically went from 800 to 8000 in 20 days.
I 10xed my money. I bought it for 800 bucks. I sold it for 8000 bucks.
And I actually sold too early. Now these are selling for $15,000 currently, $20,000, because a lot of people are really into this. And there's only 429 of them that will ever exist.
Because that's how many were initially minted when he dropped it. Now anybody who sells it, we're selling not copies, we're selling the original. I no longer own this.
This other guy owns this.
SPEAKER_00
I couldn't just rip this off and put this in my frame. You can. So you can look as good.
It would just be like, I would be a poser.
SPEAKER_02
If you'd be a poser, you would know just like if you go buy a Mona Lisa poster right now from, you know, Amazon. That's not the Mona Lisa. You'll know that's a picture of the Mona Lisa.
SPEAKER_00
Dude, they're selling for 20,000. Exactly.
SPEAKER_02
So the one I sold, I think is on sale for $45,000 for now. You pick your price as the owner of the art. You could pick your price, whatever you want.
So yesterday, for example, there was another drop that me and Ben, we woke up early in the morning and we went in. We, because we've seen these things when they dropped, they're just like appreciating like crazy right now. Right. I 10x my money in 20 days. So I was like, all right, let's see.
Let me just take those winnings and let me parlay this. Let me see if I can turn my initial $800 of capital into $100,000. So I'll show you this other one that I bought yesterday.
SPEAKER_00
I'm looking at all these. Some of them are great.
SPEAKER_02
Like there was this artist who was a former baseball player. He became an artist named Micah Johnson. He created this character called Aku and he makes this video.
I just sent you the link.
SPEAKER_00
By the way, this is all owned by Gemini. Is that the Winklevosses? Yeah.
SPEAKER_02
Actually, what's funny is the Winklevoss twins, they started Gemini, which is like Coinbase. It's a place to go buy cryptocurrency. You can go buy Bitcoin there.
And they bought Nifty Gateway from these other twins. So the Winklevoss twins bought these other twins, the Cock Foster twins. They made this little eBay for selling digital collectibles and they own it.
And now this thing is taking off. Like I talked to Griffin, the founder, and he was sharing some of the stories about how it started slow and then now it's just doubling like every month.
SPEAKER_00
I'm looking at the traffic and it looks like in August they had 11,000 people. And in October, they had, these are all estimates, 38,000, then 48,000, then 150,000, and now close to 400,000. Yeah.
SPEAKER_02
I think they're doing 20 million in sales every month right now. I believe they will get to, by the end of this year, I believe they will get to $100 million in art sales per month. I don't know what like Christie's and Sotheby's and those guys do.
I don't think this is that far behind. And so what they're doing is they're going to pop, they find a popular artist. Well, I don't know how big they are.
What I'm saying is like, this is not like just some super fringe thing anymore.
SPEAKER_00
The forever Mamba one that you got is the best one.
SPEAKER_02
Yeah, it's sick. But there's some other good ones. Like I told you, Beeple, when he did his drop, he has really cool art.
He did $4 million of art sales on his like five minute drop. And then the cool thing is for the artist, every time I resell it, the artist gets a cut of the resale too. So this artist, the boss logic guy, yeah, he put his initial ones up for 800 bucks and now they're selling for way more.
But I think there's been $200 million of total sales and resales of that piece of art. Actually, that sounds high. Maybe it's 20 million.
I think I got the number wrong. But he's getting a cut of all the resales too. As an artist, you don't just get sort of like exploited by making something great and then rich people start trading it with each other and making a bunch of money.
The artist always, because it's linked again, because it's all done on the blockchain, it's all perfectly kept records. There's no way to sell it kind of just for cash on your own in some art gallery with five rich old white people. This thing is all done in public on the internet.
Everything is recorded. And because of that, there's a, you know, a perfect way to pay royalties to the artist.
SPEAKER_00
So can you have this? Oh my God, these some of these are really neat. Can you have this at your house in a frame and then just, you know what? I'm just going to sell this right now. Boom. So and then I'm going to buy another one and now it's uploaded into my frame. Exactly.
SPEAKER_02
That's exactly what I'm going to do. I bought me and Ben frames and we're going to put them up next week and we've been collecting these. So yesterday's drop, I bought five.
Each one was $1,000 in the drop. I bought five of them and already each one of those is selling on average for $2,500. So in one day I could, you know, go sell it.
A thing I bought for $1,000 I could sell for $2,500 right now if I wanted to. I think it might appreciate some more. So I'm going to hold on to it.
SPEAKER_00
I will say you ever sell any of them.
SPEAKER_02
When I saw, Hey, the thing I bought for $800, I can get eight grand for that video right now. I sold it and I kind of had sellers remorse as soon as I sold it, but it's hard to say no to 10 extra money in 20 days. It's pretty good.
I know it's good, but what I'll say is NFTs let you do a lot of things. One of which is this digital art.
SPEAKER_00
NFT correctly with an MF would like a Beanie Baby be an NFT.
SPEAKER_02
Well, if a Beanie Baby was created or registered on the blockchain, then yes, it would be an NFT.
SPEAKER_00
Okay. So NFT only doesn't refer to a one off rear car. It only refers to something that uses.
SPEAKER_02
It is a digital collectible. It is a unique digital collectible. Now you can have let's say 500 of these, but each one is like a serial number.
Right. Like I owned number 206 out of 429. So I owned that one and 206 is unique.
It's not the same as 205 and it's not the same as 207. Right. They're all serial numbered basically.
SPEAKER_00
Logan Paul, which I can't believe I'm quoting, but you know, he left his podcast and moved to Puerto Rico to focus and he was like, I want to dedicate my next little bit of career to NFTs.
SPEAKER_02
Yeah. So him and Gary Vee have like gone all in on this whole like Logan Paul, this whole NFT thing, because they've made a killing in like sports cards and Pokemon cards recently. So they're like, Oh dude, this just makes money.
There's no like downsides to this. But Logan Paul did a NFT drop. I think yesterday he did $3.
5 million of sales of, I'll show you the thing he sold, which is basically like a picture of him. It's like a little card and you can go look this up. So basically it was one Ethereum per thing.
So you bought it for one ether and this was his thing.
SPEAKER_00
What's five link newsletters at yours?
SPEAKER_02
Yeah, this is my new thing. I'm going to, every Friday I'm going to send out a bunch of links. I think are cool.
And one of the links this week is about Logan Paul's thing and the details behind it. So anyway, so he did a million dollars of sales in the first 30 minutes. He ended up doing 3.
5 million in the day and that's it. That's how many there are and now whatever you can trade these. Now, so let me be clear.
A lot of this stuff, it's going to do what crypto is going to do. It's going to go way up and then it's going to go crashing down because there may not be people who want to collect these things, right? And especially with NFTs, it's like, it's not even like Beanie Babies, but being able to go create a toy with NFTs. It's like, I can literally go in Microsoft Paint right now.
I can create 40 files and then I can print them. And I can basically tokenize them. I can say, great, here's my rare art.
Right. So there's like, there's going to be a lot of supply. So I would say there's a very good chance that this is a height bubble right now.
It is a very cool mechanism for artists to get paid.
SPEAKER_00
It doesn't seem like that big of a height bubble. I mean, not that. I mean, if Logan Paul did it, then yeah, it's probably close to mainstream, but it doesn't seem that mainstream.
SPEAKER_02
Yeah. I don't think it's mainstream. What I'm saying is like, I'm not saying that all this stuff is going to hold its value.
I think that right now this is like just kind of a frenzy and everybody's piling in and everybody's trying to make a buck. I don't think most people want to like own the art and display the art. I think a lot of people are just buying stuff to flip it.
SPEAKER_00
At my home, we don't have any art and that's what we're doing now. I would 100% invest 10 to $20,000 in the total of frames and cool shit like this.
SPEAKER_02
So that's why I started with the art example, because the art example is the least, it's the most familiar, and it's the least hateable because you're like, wow, this is like, this is a real unique piece of art that somebody did. It looks beautiful. I could put this up on my wall.
I've seen people buy art before that makes sense. Now let me show you something else that's done with NFTs and you're going to tell me.
SPEAKER_00
By the way, can you name all, where's all the places people can go to buy this stuff? So niftygateway.com, what else?
SPEAKER_02
Niftygateway.com is where the best art drops are happening and it's the easiest to use. You can go buy it with a credit card.
You don't have to have like, you know, you don't have to have like a big crypto wallet to be able to do it. You can just go and be like, cool, put this on my visa. I'm going to buy this thing.
So that's why Diffie Gateway is smart and they're partnering only with like high-profile artists. So there's not a bunch of trash there. But if you want the opposite, if you want like, what's everything? Here's what's trying to be eBay for the crypto world is OpenC.
So go to openc.io, like open like ocean. So OpenC.
And this is where anybody can list any NFT. There's no like kind of curation filter and you can just sell and resell anything here. And so you'll go there and you're going to be like, this is like a little picture of a plant.
This is like a picture of like, this is literally just like a pixelated image of a hamburger. And it's selling for $3. And so this is just like, it's just like eBay.
There's just, this is everything. If you want to buy it, you can buy it. Look at the link I put into.
Put it in Slack.
SPEAKER_00
Okay. I'm pretty slack. But I don't understand.
They have like domain names too. What? This is so interesting.
SPEAKER_02
I'm going to tell you a little bit more of a hateable one now. And you tell me what you think of this one. So this is CryptoPunks.
CryptoPunks, same idea as Beanie Babies. They made a bunch of little characters. And the character looks like a little 8-bit thing from an old school video game.
It's just like a head of a little video game character.
SPEAKER_00
Oh my God. And they're selling for $150,000.
SPEAKER_02
You know, there's like $10,000 of these. So right now, CryptoPunk number 2013 just sold for $92,000. Now, when you see that, you're going to not feel the same way about, oh yeah, like this, I'll put this up on my wall at my house.
And I'll like, I can buy, pay for digital art. I don't think you would go buy these CryptoPunks little collectible figurines any more than you would go buy a Funko doll for $700 on eBay right now. You know what I mean?
SPEAKER_00
You don't own any crypto by buying this, correct? No, you actually spend crypto to buy one of these. Because they have, this sounds not,
SPEAKER_02
you pay in Ethereum, you pay in Ether, right? To go buy one of these things. And so yesterday, somebody dropped half a million dollars on CryptoPunks in about a 30 minute time span. And so a lot of people think it was Chamath, because he's talked about, he said, I'm building a very big NFT portfolio right now.
I'll reveal the details of it later. You know, there's only so many whales who are going to go buy half a million dollars of NFTs in like a 30 minute span. And so some people think it's Chamath, maybe it's some other random crypto millionaire or a hundred millionaire or something like that.
But there are many, many different types of these. So I'll give you another example. Music. There are artists that can just release a 10 second sound sample. I think **** is going to release a track on Nifty Gateway, I believe.
I hope I'm not breaking any news there. But there are artists who are going to release songs or clips of songs as tokens that you can own. So you can own that song, or you can own that clip of that song.
They're going to release it as like a piece of art, basically, that you can go buy and bid on.
SPEAKER_00
So the opportunity, obviously, here is displaying all these things.
SPEAKER_02
I think so. So I'll tell you the three.
SPEAKER_00
I mean, the other, the biggest opportunity is these marketplaces.
SPEAKER_02
I believe if somebody was to make a very cool, simple frame, that's like kind of marketed and branded towards NFT collectors. Right now, there's so much money being splashed around here. I think that you could sell $300 frames, $400 frames.
And I think you could sell probably five million of them in a month, five million dollars of sales in a month right now, easily because of people need a way to display these.
SPEAKER_00
How do I get this thing literally in the frame?
SPEAKER_02
So there's two ways. One is you download your, you right click this thing, you save video as, and then you just like most of the frames can accept like a video file. So you just upload it that way.
SPEAKER_00
The frames are attached to Wi-Fi?
SPEAKER_02
Yeah, the frames are internet and smart frame, right? It's like a digital picture frame. And so the other way to do it, the better way, I think, is if you're going to make this and market it towards those people, you would just say, cool, link your Nifty Gateway account. Just like log in.
And once you log in, cool, your whole collection is there. What's your Ethereum wallet? Just connect it and then boom, we'll display whatever you want here. And there's this little companion app that will let you do this.
Now check this out. Our friend Ryan Hoover invested in this company called Infinite Objects. Have you seen this before?
SPEAKER_00
I dismissed all this. I think it's cool.
SPEAKER_02
I don't know if people are going to like this because, A, a bunch of this is visual. And if you're listening to this, I'm not sure if you're going to get it. And B, I think I'm talking a little bit fast and all over the place because I'm excited and I think you get it pretty quickly.
But for a newcomer, I don't know if any of what I said is going to make sense. So let me know. You can tweet at me and be like, that made no sense.
Can you do it simpler? But look at this site I just sent you. So Infinite Objects, at first glance, you're just like, oh, this is like, this is just one of those digital picture frames, right? It is and it is. First, it's like kind of well designed.
It looks pretty slick. It looks like something like, I don't know, like Apple would make or something. But the cool thing is it's an infinite object, meaning whatever you put inside, that's it forever.
It is a forever looping video of whatever you put in there. So I think these are great gifts, by the way. Really cool gift for Valentine's Day or whatever, like to get somebody, Mother's Day, that sort of thing.
But it's a printed video. So it can't change in the same way that a poster can't change. So they basically just imprint this video in and then it's sealed and then nobody can ever change what's inside this.
So the first step-
SPEAKER_00
Dude, it's just like that Harry Potter shit. This is what the little reminds me of.
SPEAKER_02
Exactly. It looks like a portrait that's moving like in Harry Potter. Exactly.
That's, I think, that's very much what they went for, like the magic of that. The very first big drop that I was talking about, the biggest NFT drop, that one that the artist Beeple did. And by the way, this guy Beeple, some people were like, oh my god, this guy made like $4 million in one day doing an NFT drop.
This guy is a monster. For eight years, he made a different digital art every day. And he posted on Instagram and they're all like amazing.
And he would do one a day, every single day for like eight or nine years. And then he like cashed in all that like fan love through an NFT drop. And that's, you know, he's the kind of highest selling artist on this thing.
His things are now going for hundreds of thousands of dollars. And Christie's invited him to do a official, do like a traditional art show and sale. And they're going to accept cryptocurrency for the buyers of the art when he does it there.
But when he did his, he offered one of these with every buyer, which I thought was really smart. So he said, if you buy this thing for whatever $2,000, you will get the digital thing and it'll be recorded on the blockchain. But I'm also going to send you an infinite object with the piece of art in it.
So you'll have it in your house. And I think that's where this all goes. I think artists are just going to include a physical token with the digital thing you bought.
SPEAKER_00
I love this. This is so cool. I do have a little bit of a nitpick with infinite objects, which it looks like all their stuff is really small.
SPEAKER_02
It is small. Yeah. This is like, it looks like a book size thing. Like the thing you have behind you, the thing I have behind me, that's what I want.
And that's why I bought a big print. And this also has a big problem, right? So like, I think their product is slick, but this is a big problem because you can only ever display one thing in this. Once you do it, it's forever.
You can't use it to display your collection. If you bought 30 pieces of digital art, you need to buy 30 of these to display them. And so I think that's the big flaw of this, that somebody can still do as an opportunity in the NFT space, is to actually make a frame that will rotate your latest buys.
And if you sell something, it'll leave, you know, that sort of thing. This guy, Darren Reveil, he's a kind of sports journalist type dude. He tweeted this thing out.
He goes, look at these two images and tell me which one you would want. On the left is an autograph signed, there's a trading card with Michael Jordan and Kobe Bryant on it. And it was signed by both guys, signed by Michael Jordan, signed by Kobe Bryant.
And on the right was that Kobe Bryant NFT that I showed you. And he goes, both of these right now are selling for $20,000. Which one would you rather buy? And the Twitter reply is very interesting because if some people are like, are you crazy? That's a dude.
I could just save that little image as my wallpaper right now. Boom, I got it for free. And then other people are like, so what? That other thing is just a piece of cardboard with some ink on it.
You know, like if you break it down, like believing in autographs, believing in trading cards, like pieces of cardboard with somebody scribble on it, like why is that valuable either? And it's all valuable because it's rare. And it's all valuable because other people believe it's valuable. And so the big question is, that's what money is and that's what all of this is.
So the question people have right now is, all right, with this NFT thing, you know, is this the next Bitcoin? I kind of feel, well, this is what a lot of people feel. It's like, shit, I kind of missed out on that Bitcoin thing. Is this NFT that? Should I just be piling into this? Or is it more like ICOs three years ago where, boom, everyone's doing ICOs, everybody's getting rich, crowdfunding through ICOs.
And now ICOs are seen and people at that time were saying, dude, this is like kind of a money grab. These projects are not legit. This thing is not worth that.
It's just a frenzy right now. My personal opinion is that NFTs are nowhere near as valuable as Bitcoin could be because if you just look at the collectibles market, like trading card market, there might be like the trading card market might be somewhere between $5 billion and $20 billion a year. Bitcoin, which is like a financial asset, financial system, like things in the financial system are worth trillions.
You know, like if Bitcoin's digital gold, gold's market cap is $10 trillion. So they're just operating on different scales. So I would definitely not think of NFTs as like the next Bitcoin.
I would think of it as a really cool way now for us to make things on the internet scarce because you could just copy, paste anything. And I could just, I can send you a file and then I have it and you have it. Everything was super, super abundant.
So there was no way to have real scarcity on the internet. All digital stuff was like, could just be cloned and replicated infinitely.
SPEAKER_00
Do you remember watching videos and it's like rare video of Eminem backstage talking to Dr. Dre? It's like, well, no, there's no such thing as rare on the internet.
SPEAKER_02
Well, in that case, like, it might be rare because that's the, you usually don't see Eminem backstage, but like, there's definitely any GIF, any picture, any video, any song, you could just like infinitely share it and send it. We can all have one for free. Like there was no scarcity.
The internet was amazing because it made everything so abundant so everybody could have it. But what you lose is then, what's the point of creating the art if it's just going to get cloned everywhere and I don't get any piece of the action? And so what I think is cool here is that crypto is kind of unlocked away for artists to make things scarce that are digital. And some of it's going to be bullshit in the sense of, yeah, it's scarce, but no one cares about it.
So therefore it has no value. But some things that people care about, now you have a way to make the valuable through scarcity. And I think that's really cool.
All right, let's talk about this last thing.
SPEAKER_00
I think that this episode is going to be good, but we'll talk about this last thing. It is crypto related, but not in the same way. So Sean brought up this thing that I actually looked into is pretty interesting, coin market cap.
Is that for a coin market cap? I'll tell you how this got put on my radar.
SPEAKER_02
Somebody said coin market cap. Sorry, not going to be a good one. Coin market cap.
Somebody said this question. I was going to quiz you with this, but I put it up here so you had a chance to research it. But I was going to say, hey, guess which website is bigger? Coinmarketcap.
com or Wall Street Journal.com. And like any rational person who's just like kind of from the outside, you would think Wall Street Journal, of course, that's an institution that's been around for years. Everybody knows about the Wall Street Journal.
What the hell is coin market cap? Well, it turns out coin market cap gets more traffic every month than the Wall Street Journal. And all coin market cap was, is a guy that's been around for seven years, has been growing and passed it up years ago. It was this guy in his apartment and all he did was he just displayed some price information about cryptocurrencies.
That's how it got popular. And now it's turned into like a full-fledged thing where they like do journalism. They write some articles about the latest news and whatnot.
But like fundamentally, it was just a display of kind of price information about crypto. And it is amazing to me that this thing was getting 100 million monthly visitors when the Wall Street Journal was only getting like 80. It had passed the Wall Street Journal.
That blew my mind and I had to know some more. So that's how this got on my radar. What did you think was cool about this?
SPEAKER_00
So I looked it up. It was started by this one guy named Brendan Chez. I think it is C-H-E-E-Z.
It started about seven years ago. What's interesting is that he's, this story is always a good story, very secretive. So I'm almost positive you can't find a picture of him.
I couldn't find anything.
SPEAKER_02
I tried to find the motherfuckers picture. Couldn't find it.
SPEAKER_00
Yes. He's only done one or two interviews and it's always a stock like outline of a black like head. Like with the shadow on you.
And it's so powerful that he delisted the South Korean exchanges for some reason. I don't understand why. I guess the story is that he delisted some South Korean.
I'm a total new, but basically like the equivalent of something off his site.
SPEAKER_00
Yeah. He basically, it was like the coin base of South Korea. He said, no, we're no longer going to deal with you anymore.
SPEAKER_02
And by the way, delisting, it's not like they lost any power. He just like stopped. It's like if the Wall Street Journal stopped talking about my company, that doesn't actually hurt my company, but it did in this case.
SPEAKER_00
And in this case, it wiped out a hundred billion dollars in market value of crypto asset market value. So very powerful. And I looked at on LinkedIn, the company only has 36 employees.
And because of its secrecy, a lot of the employees actually looked like legitimate, just like normal like tech worker employees, although there is a lot of secrecy about it. So who knows what the truth is, but the company sold to Binance Binance. Sean, is it Binance like pretty much a coin based competitor?
SPEAKER_02
It's coin based in Asia. It's bigger, a little bit bigger than coin based. But it's the biggest exchange, which is like, it's the biggest place to buy and sell cryptocurrencies in the world.
SPEAKER_00
And Binance bought it for a rumored $400 million. And there's potential that it was like five or 10 employees when they bought it. And Binance bought it kind of for the similar reason they HubSpot bought us, not exactly the same, but similar, which is like, wow, you're setting a lot of traffic to all these places that are our competition.
What if we just owned you and they promise not to like completely ruin it? But I do think they like promote themselves. I don't know that I don't know the reality. There's a reason they bought it.
SPEAKER_02
Let's put it that way. Yeah.
SPEAKER_00
And they can promote, so they can say, oh, you're going to check out the price of Bitcoin all day. By the way, if you sign up right now for Binance, you can get a $50. Yeah.
SPEAKER_02
Come buy Bitcoin here. Yeah. That's all they want. Come buy it here.
Don't buy it over there.
SPEAKER_00
Crazy fascinating because this idea of just like, I'm sure it's this product is, it's pretty slick. And on the surface, it looks dead simple. Like, oh, all he's doing is like pulling in data, like any dumb idiot can do this.
SPEAKER_02
Dude, I remember this thing, like this looked so simple back in the day. Like now it looks like a proper website. It's got articles, it's got journalists, like it's well designed.
This thing started as just like a plain white and black display of a bunch of numbers. And like, that's all it was. And it was popular because it was the easiest, fastest way to go at a glance, see what was going on in the crypto world with the price and the market caps and the change over time, like change in the last 24 hours and stuff like that.
So it's amazing. This is a great example of why Combinator calls picks and shovels businesses, which is something our friend Andrew Wilkins likes a lot, which is whenever there's a big gold rush, don't try to be one of the people in the gold rush, go sell shovels to the people who want to go get gold. And so examples of this would be Andrew's company WeCommerce, which is basically, okay, Shopify is getting big, e-commerce is getting big.
Don't try to be a big e-commerce site. Sell tools to people who want to start their own, who want to go in the gold rush of e-commerce and go try to build their stores. And now WeCommerce is a public company worth like, I don't know, $800 million or something.
This is that same idea, which is instead of trying to become a crypto fund or buy a bunch of Bitcoin or speculate on the price or do anything, they're like, we'll just report the price in the news. We'll just be like a display of information. And that picks and shovels business.
They sold $400 million. I think it's kind of amazing.
SPEAKER_00
This is wild. I think that this episode is, I don't know if people are going to absolutely love this or think that it was too much. But this is a fascinating thing.
I'm kind of amped up to be honest. I'm leaving this amped up.
SPEAKER_02
And by the way, the website told me about crypto slam or whatever. There's a whole bunch of these now, DeFi Pulse. They're building the coin market cap.
They're trying to build the same thing, coin market cap for NFTs. They're like, oh, we'll display a bunch of information. Like that thing I sent you that showed you how much money Top Shot had made in the last 24 hours.
That's what coin market cap is, but they're just doing it specifically for NFTs and they're trying to become the coin market cap for NFTs. And I think you could take that same principle to really any space that's hot. Right? Like you could do it with Crunchbase or whatever did it with startup funding news.
Every time there's funding, cool. We're going to write it down here and it's a searchable database of that. And you can just do this in any industry where there's a lot of interest.
You could just become the like info display sites for that thing. Chartable does this with podcasts, for example. Not well.
SPEAKER_00
What's this one you're sending me? Chartable. You guys got to fix this. What is this? Is that?
SPEAKER_01
I sent you a worldmeters.info and I think they blew up just because they showed the daily count of coronavirus.
SPEAKER_00
Yeah, I remember this. So it was a kid. He might have been not even 20.
He was a young kid and he did the same exact chart, but for COVID cases and it blew up. And I think the New York Times did an article about how he refused to sell it and he refused to put advertising on it and they've estimated that he could be making four or five million dollars a year off just display ads.
SPEAKER_02
A brain who's just sent the traffic. It's 220 million visits this last month.
SPEAKER_00
Oh, then he went away made way more. This was like right when COVID started a year ago.
SPEAKER_02
He could just sell masks on this one. One link to a mask. Yeah.
SPEAKER_00
When I saw that, I was like, dude, make money off of it. You're working hard. Get paid.
Like how are you going to keep doing this? If you can't make any money, 200 million people coming to your website a month. How on earth do you afford unless they're going to give you that? That's going to cost you. Surely that would cost tens or six figures a month.
Maybe.
SPEAKER_02
Yeah. I don't know how much it costs. Maybe eight of us.
SPEAKER_01
As ads on it, this guy is making some good money and all it's doing. It's what you guys said. He's just pulling data for corona cases in different countries and 200 million hits a month.
SPEAKER_02
Yeah. Now I see, I turned off my ad block. I see like Squarespace ads all over it now.
So whatever that guy was saying where he wasn't going to do it at the bottom, you can, lending tree refinance calculator.
SPEAKER_00
Well, this is good. I think we should wrap up here. This is pretty sick.
We're going to bring this heat, hopefully every time. And this is sick. Well, thank you for listening.
Tell us the feedback on this. I want to know what people want and if they dug it. All right, we're out of here.