Malware, New Industries & Home Services in 2035

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All right, welcome to another another episode and today we are going to be jumping right into a cold open and On this episode i'm gonna be asking jonathan to either buy the stock or short it So if you don't know the stock market shorting it means I think it's going down It's not gonna work out and so i'm gonna do is i'm going to give you a trend jonathan And you have to tell me if you'd buy the trend or if you'd short it over the next five years So, you know, we're not a betting man We don't do that.
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Yeah
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But if you were, you know, in the next life of JP, if he was a betting man, would we buy the stock or are we shorter?
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I'm going to give you 12 trends.
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And I just want to know, would you buy it?
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So I think they're going to keep going or I think they're going to fall apart.
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Exactly.
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And some of them are bets.
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And we kind of go all over the place.
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So first one up is AI is answering every inbound call for home service companies.
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How far out?
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Five years.
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Oh, yeah.
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By the way, this is five years.
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So 2031.
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2031.
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Every single call?
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Every single call.
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I short it.
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Okay.
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Number two.
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We're going to mix up some of the themes here.
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Tiffany owns a humanoid robot.
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Hmm.
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I've asked her this.
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I feel like you have insider information, though, given the fact that you're married to her.
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Well, so Tiffany is okay with it.
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I've asked it very specific because I was trying to get a feel for this.
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Like, really?
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You're going to let the thing, like...
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stand in our bedroom while we're sleeping looking at us um so but uh i don't believe they're gonna happen so short it not in five years not in our house okay okay and she was okay with it she'd be okay with it i i could not believe it i really thought i was gonna get like no and she was like really hate the dishes or something i do the dishes you are the humanoid robot i need i i want the robot
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Okay.
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All right.
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Number three, private equity, buying a million dollar lawn care and plumbing companies.
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Like broadly, they're starting to buy $1 million companies.
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Oh, so they're coming down market to buy more and more of them.
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I'm long.
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Okay.
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All right.
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Number four, a $25 per hour minimum wage is becoming normal for entry level labor.
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Is it a true minimum wage or the market forces it?
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True minimum wage, federally.
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I'm still shorting that in five years.
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Not everywhere, but if you're going to say the whole US, I'm shorting it.
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Okay.
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Number five, a Fortune 500 company replaces its CEO with an agent.
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Yeah, shorting it five years.
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Okay.
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Number six, the Ferrari Luce, the famous electric car.
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gets a second version or upgrade.
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I just want to say that they are booked out with orders all the way through 2027.
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Is that what they're saying?
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Yeah, that's what they're saying.
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I also don't know if they're making 10 this year, right?
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And it releases in 2027.
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Yeah.
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I promise you when Ferrari starts.
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So interestingly, I've gotten three emails from three different Ferrari dealerships this last week because I'm in the Ferrari system.
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Cause I've owned for us for like 12 years now.
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And so, or more.
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And so all of a sudden I'll know where I'm getting a bunch of emails.
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They're trying to sell.
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I am a, well, they run on five year cycles.
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Usually I'm tell me the question again.
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I think it's a, yeah, it'll get a new refresh in five years.
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I'm long that I, I don't know which way to answer it, but it'll get a refresh.
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Okay, here's a follow-up question.
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Will it be higher or lower in price than their current sticker price, the second version?
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Depends how much the Chinese market will pay for it.
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Because that's got to be who they're going after.
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Right.
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I'm going to go.
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Brian never comes down in price.
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Hmm.
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But, you know, they may start to recover some of their CapEx they've invested to build electric.
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So maybe there's an argument where they do come down a little bit in price, which is not something they normally do.
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I may take that trade.
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Okay.
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All right.
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Number seven, a recession marked by declining home prices and a 20% drop in stocks in the next five years.
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A long net trade.
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Okay.
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Number eight, prices are transparent on the website with AI agents having cards on file to check out.
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Long.
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I'm long.
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Not everywhere, but a lot of it.
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A ton of it.
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Yeah.
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Okay.
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Number nine, home service companies using door hangers and door knocking more than they are now.
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I'm long.
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Okay.
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Number 10.
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Smart ones.
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Yeah.
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Okay.
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All right.
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Number 10.
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NVIDIA valuation is lower than it is today.
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Moo.
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Golly.
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In five years.
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I was going to do Tesla, but then you'd probably get some hate comments and it probably won't be Tesla by then.
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It'll be SpaceX.
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Yeah.
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Well, that's going to be fascinating.
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See what happens there.
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Oh man.
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NVIDIA.
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Sure.
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Less than it is today.
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Really?
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Okay.
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All right.
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No, no, no, no.
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You're asking if it's less than today.
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Oh yeah, I'm asking.
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Yeah.
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I should just give... Man, I don't...
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This is hard to know how it plays out because I think we could have some tech breakthroughs by then that we get more efficiency.
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But I also think the market on A is just going to grow.
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I'm going to predict not lower.
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Okay.
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All right.
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Yeah.
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All right.
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Number 11.
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Tough.
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All right.
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B2C or business to consumer blue collar businesses getting better valuations than B2C.
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So business to consumer software.
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I'll say it again because I know it's a little tough.
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This is the SaaS trade.
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Yeah.
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So B2C blue collar businesses getting better valuations than B2C software.
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Oh, B2C software.
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Oh, correct.
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Oh, like so not business to business soft.
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Not what we do.
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Correct.
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Correct.
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No, like a workout app, something like that.
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Oh, yeah, that's the challenge here.
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This is where the nuance matters.
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Like the small stuff screwed.
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The stuff that could become a feature.
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It's like the really big stuff like a Spotify still does great.
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I don't think you recreate.
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You can't recreate Spotify with AI.
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You can recreate the tech, but you can't recreate all the deals.
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So that's where the nuance is.
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But if we're talking the typical app on your phone, typical small software thing.
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No, I think home services is the better, better bet.
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All right.
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Number 12, last and final.
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There's going to be a million robo-taxis in operation.
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In five years?
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Let's say USA.
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There you go.
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You know how many we have now?
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Not a lot.
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Man, that's a tough one.
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That's like the NVIDIA one for me.
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A million.
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Dang, that's a lot.
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Yeah.
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This is my least confident answer.
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I'll take it.
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But that feels like gambling.
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we would never do this never yeah okay fantastic all right let's kick it off what you've been working on this past week for everyone that might just be listening on the podcast jp does have a background of a tropical uh beach behind him and so i don't want to ask what you're working on but you can just say what you've been up to uh to kick us off
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Yeah, I actually haven't.
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On the way here on the airplane, I finished my marketing calendar revisions that are editing that I talked about last week.
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But I haven't done any work since I've been here.
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So I'm not working on anything.
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I'm on vacation.
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Let's go.
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Well, we've been working on not fun stuff.
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We had our first large-scale malware attack at HomeWorks.
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Yep.
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Now we are.
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Okay.
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So it went through GitHub.
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So one of our contractors that worked on our mobile app, it got infected on them and then it spread like crazy on GitHub.
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It actually affected GitHub's code base.
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And it was being spread through there.
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It was really bad.
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So anyways.
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I'm really curious about this.
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So did it hit a lot of companies?
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Yeah, a lot.
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Was there a ransom involved or was it more of just like you got to go clean everything up?
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I haven't followed up with the other companies.
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We were able to get ahead of it.
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So on Saturday afternoon, we got wind of it and then we changed.
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So we locked the system down, all APIs we changed.
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We actually changed our repository in GitHub.
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But the biggest thing that the last three days have been a struggle is like getting the email and text backup because the backlog.
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But we just as of this morning, like caught back up.
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But that was, yeah, it was, it was the first big one.
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Yeah.
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It was hefty, like working a lot of hours.
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Wow.
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Do you know what the goal of it was?
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Not yet.
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No, I'm going to circle back with Dan.
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He's our CTO and just see what happened to everyone else.
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But when we saw it, it was just like immediately, everyone was on board, just locking.
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We changed out every API key, Stripe, PayPal, every little thing.
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So, man, fortunately, nothing bad happened, but.
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That's good to hear.
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Man, that was even in SA days, and it's like another level now, or it's going to become another level, I believe.
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That was always the single biggest, that and the database, like the system going down or some kind of an attack was always our biggest threat.
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We had full-time security that only worked on security at SA.
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I mean, that's because we were getting attacked all the time.
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It's like, that's the crappiest thing about software.
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Back to my argument.
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Is really everybody going to build their own software and protect themselves?
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This is going to get bad, I think.
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Yeah.
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Yeah, because it's like with a CRM specifically, you have customer data.
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And if you have even let's just say you're a smaller business with 20,000 contacts, like that's valuable to a lot of people.
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Yeah.
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So when you have like a thing into the whole CRM, like that's millions.
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So anyways, that was what we've been working with.
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And I was I had it in my docket.
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Like I can't talk about this if we're still going through it.
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But as of this morning, everything's back up to speed.
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Wow.
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Glad to hear that.
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That's that's scary stuff.
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Yeah, cool.
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Well, let's jump right into the docket.
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We pulled these mostly from questions from the viewers.
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So as always, if you all have questions down in the comments, JP and myself usually respond.
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And so feel free to put those down in the comments.
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But the first one is very strategic, mostly for home services, businesses that are trying to market and grow their business.
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First one is what marketing tactics are working now, which ones are hot right now?
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And specifically kind of looking at door hangers versus every door direct mail.
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I know it's a moving target.
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In two years, this could be antiquated information because things move so quickly.
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But I think a snapshot right now in terms of what are you seeing working?
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I know at CityTrip, Jonathan, you've been working a lot with the marketing.
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What are you seeing working now?
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And then I'll kick it off on our side.
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You know, I totally misread this question when you dropped it in the docket.
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I heard it as what's hot right now.
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But you're saying what's working the best right now.
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What's the difference?
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Hot.
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Like what's hot?
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Like, oh, I see what you're saying.
252
00:10:35.176 --> 00:10:36.176
Hot is like trendy.
253
00:10:36.316 --> 00:10:36.616
I got you.
254
00:10:36.636 --> 00:10:38.197
Yeah, like what's everybody talking about?
255
00:10:38.217 --> 00:10:39.357
What's everybody doing?
256
00:10:39.397 --> 00:10:40.058
No, no, that's cool.
257
00:10:40.078 --> 00:10:40.638
I can answer.
258
00:10:40.658 --> 00:10:41.818
I can answer either way.
259
00:10:41.918 --> 00:10:54.603
So what's working right now in trying to get my head around what I wanted to spend my time on working on the city turf business, because it's a multi-year project for me to really get us to where I want to go from a marketing standpoint.
260
00:10:55.528 --> 00:10:58.449
And I'm still, I consider it's taking a lot longer than I thought.
261
00:10:58.529 --> 00:11:00.010
So I still think of it as very early days.
262
00:11:00.050 --> 00:11:10.793
But I've been having conversations with other individuals that are running really large companies, maybe outside of home service, not home services, but outside of, say, green industry that could be in other trades.
263
00:11:11.674 --> 00:11:14.855
And I will say that what they're all talking about is...
264
00:11:16.165 --> 00:11:19.848
I mean, they put number one for them, LSA ads.
265
00:11:20.068 --> 00:11:27.913
Like LSA, that's the thing that everybody says LSA, reviews, fast response.
266
00:11:28.033 --> 00:11:34.337
This is the thing that's most important to a lesser degree, Google ads, but they're still doing a lot with Google ads.
267
00:11:34.758 --> 00:11:40.762
But when you talk to a lot, I mean, and I'm talking about talking to people that are doing over a hundred million in revenue, not tons of them, but some.
268
00:11:41.602 --> 00:11:44.905
And then a number of people that are doing under that number,
269
00:11:45.918 --> 00:11:47.158
That's what I see a ton.
270
00:11:47.198 --> 00:11:53.681
So they're focused on LSA, SEO, nothing new, nothing like that hasn't been around for a long time.
271
00:11:54.741 --> 00:11:59.702
So I wouldn't say I talk to anybody and think, wow, super sophisticated, very exciting.
272
00:11:59.762 --> 00:12:01.803
Like they're doing some really cool stuff.
273
00:12:02.303 --> 00:12:13.387
And from my standpoint, the way I'm thinking about it is like if I'm in three years getting most of my revenue from any paid ads, I have totally not done what I'm trying to pull off.
274
00:12:14.072 --> 00:12:15.453
I want to shift.
275
00:12:16.134 --> 00:12:17.515
SEO, in my mind, is not going away.
276
00:12:17.555 --> 00:12:19.136
You combine it with AEO, GEO, whatever.
277
00:12:19.156 --> 00:12:22.959
Those are just the AI terms for getting found in the LLMs or recommended.
278
00:12:23.600 --> 00:12:32.006
But I want more of our clients in the future coming from other tactics like the old guerrilla marketing, the offline marketing.
279
00:12:32.026 --> 00:12:32.627
Go get the client.
280
00:12:32.647 --> 00:12:39.252
In fact, I just released a video on 5 for 50 yesterday on this, or it'd be a week from now, a week in the past if you're watching this now.
281
00:12:40.660 --> 00:12:49.546
I want more of my clients coming from the LLM, some more of my clients coming from social, more of my clients coming from referrals.
282
00:12:50.066 --> 00:12:56.170
If I look at my business and most of my clients are coming from paid ads with Google, we haven't pulled off what I want to pull off.
283
00:12:56.230 --> 00:13:04.094
So what I'm seeing the market doing is not really some big new, like, wow, this is the thing that we didn't know about a year ago.
284
00:13:05.335 --> 00:13:07.997
So I kind of feel like I'm trying to run in a different direction.
285
00:13:08.807 --> 00:13:10.628
And why is that?
286
00:13:10.748 --> 00:13:12.670
Is that just the dependency on that channel?
287
00:13:13.270 --> 00:13:17.573
Is it the fact that you're kind of chained to a paid channel at all?
288
00:13:18.254 --> 00:13:20.215
So it's not that I won't spend the money there.
289
00:13:20.255 --> 00:13:22.937
It's more like I'll spend the money everywhere.
290
00:13:23.597 --> 00:13:27.400
I just want more of my revenue to come from other places.
291
00:13:27.800 --> 00:13:29.361
It's probably three things.
292
00:13:29.541 --> 00:13:31.723
One, I don't like the dependency.
293
00:13:32.123 --> 00:13:33.944
I'm kind of concerned about...
294
00:13:34.805 --> 00:13:40.067
Things usually tend to work out, but I'm a little concerned about where this LLM recommendation stuff goes.
295
00:13:40.648 --> 00:13:42.308
I'm really concerned about it.
296
00:13:42.689 --> 00:13:43.629
I don't know what that looks like.
297
00:13:44.709 --> 00:13:55.214
And, you know, there are signs that maybe, like, for example, in LSA, it used to be that Google would, you could really dominate LSA.
298
00:13:55.234 --> 00:13:59.636
And then it seemed like they started doing more round robbing and giving more people an opportunity.
299
00:13:59.676 --> 00:14:00.937
So maybe they do that.
300
00:14:01.717 --> 00:14:04.839
in the LLM models, but I'm not, I don't know.
301
00:14:04.939 --> 00:14:05.879
I don't know what they're going to do.
302
00:14:06.560 --> 00:14:10.282
So anytime there are question marks, I just don't want to hope for the best.
303
00:14:10.722 --> 00:14:20.687
So there's an element where I want to build a lead funnel or a flow of leads that are not dependent on Google or OpenAI or any of them.
304
00:14:20.727 --> 00:14:21.388
That's part one.
305
00:14:21.448 --> 00:14:26.931
Part two, I think with these other strategies, I can hold a strong CAC number.
306
00:14:27.151 --> 00:14:30.773
I don't think the CAC numbers tend to be that great on Google Ads.
307
00:14:31.313 --> 00:14:42.276
Like LSA is better, but true Google ads, I don't, maybe you have great numbers, but like from a face running paid Facebook or running paid Google ads, it's not cheap.
308
00:14:42.716 --> 00:14:51.058
So I think I could potentially beat that over the long term with a strong brand doing other creative marketing approaches that are very targeted.
309
00:14:51.518 --> 00:14:51.938
Don't know.
310
00:14:51.978 --> 00:14:52.978
I got to prove this out.
311
00:14:52.998 --> 00:14:56.699
But I had great success with these things in the early days of CityTurf.
312
00:14:56.719 --> 00:14:59.580
And then I went on to do service autopilot and that stuff all stopped happening.
313
00:15:00.000 --> 00:15:01.741
We didn't like didn't have people in place.
314
00:15:01.762 --> 00:15:03.423
We were too small to keep that stuff running.
315
00:15:03.743 --> 00:15:10.348
So there's protect myself from the the companies, the big companies like and then the other ones.
316
00:15:10.889 --> 00:15:12.070
Can I bring down my CAC?
317
00:15:12.350 --> 00:15:15.452
And then the third one is I just want more control and more lead flow.
318
00:15:15.713 --> 00:15:18.355
Like there's only so much traffic I can buy on Google.
319
00:15:18.995 --> 00:15:20.476
especially of my best client.
320
00:15:20.496 --> 00:15:25.040
So if I want to go build the very best business, I have to go get the very best client.
321
00:15:25.060 --> 00:15:31.965
And I don't want to have to wait for them to hopefully find me on Google or hopefully I get recommended through ChatGPT.
322
00:15:31.985 --> 00:15:33.145
So I want to go get them.
323
00:15:33.205 --> 00:15:35.407
So that's my logic on this.
324
00:15:36.748 --> 00:15:37.829
Yeah, I 100% agree.
325
00:15:37.929 --> 00:15:42.012
Even your video talking a lot about upselling and greasing that stuff.
326
00:15:42.850 --> 00:15:46.831
the gears of how we recoup the customer acquisition costs early on.
327
00:15:47.751 --> 00:15:55.514
And I think it's one of the only reasons to ever offer an additional or an adjacent service is to be able to recoup that money so I can spend more on marketing.
328
00:15:55.534 --> 00:16:02.175
Cause if you're going to spend like 120, $130 per customer, you can't be mowing their lawn for 40 bucks every week.
329
00:16:02.315 --> 00:16:03.796
Like, yeah.
330
00:16:03.816 --> 00:16:04.876
And especially if you have bad churn.
331
00:16:05.456 --> 00:16:07.517
And so, um, I a hundred percent agree.
332
00:16:07.577 --> 00:16:07.697
Yeah.
333
00:16:08.737 --> 00:16:18.224
And I think for us, we've seen Facebook ads work really well when we're driving them to instant quotes because it is a more immediate buyer we've seen.
334
00:16:18.444 --> 00:16:22.467
And they can pre-populate their information if they're going through Facebook forms.
335
00:16:23.127 --> 00:16:25.008
You're having a lower quality lead, though.
336
00:16:25.048 --> 00:16:33.714
So if you're going out and driving to estimates or your sales process is not streamlined, you're going to waste a ton of time going after what is probably a 10% to 15% close rate.
337
00:16:35.589 --> 00:16:44.058
And so if you drive it to instant quotes though, where it weeds out non buyers, you can, we can gas it a lot more.
338
00:16:44.519 --> 00:16:49.144
Whereas that's been our trouble with like LSA or Google is it's hard to scale.
339
00:16:49.164 --> 00:16:50.966
If I want to go get a hundred customers this month,
340
00:16:51.850 --> 00:16:55.233
I might not get a hundred people clicking in my local town for that.
341
00:16:55.793 --> 00:17:05.822
And so we've seen it much more as like, if you're driving traffic to an instant quote form where people, people can buy the question becomes, are that, is that the same type of person that's going to buy other services?
342
00:17:06.682 --> 00:17:10.664
And is that the same person that is going to, you know, they're tech friendly?
343
00:17:10.864 --> 00:17:17.667
Yes, they usually put a card on file, but are they going to want two or three other of my other services upgrading my treatment packages?
344
00:17:18.107 --> 00:17:21.829
And so what type of buyer comes from these different channels is also super important.
345
00:17:22.289 --> 00:17:23.250
And that's what we've seen.
346
00:17:23.830 --> 00:17:30.333
And when it comes to Google, like if I can't get the customer for under 60 or 70 bucks, the math is tough.
347
00:17:31.090 --> 00:17:38.116
Um, but if you have that higher LTV lifetime value or even annual customer value, that's when we can start to make sense of the math.
348
00:17:38.697 --> 00:17:38.897
Yeah.
349
00:17:40.118 --> 00:17:40.258
Yeah.
350
00:17:40.278 --> 00:17:45.082
This is, as you said, this is the crux of the problem in running a one or two service businesses.
351
00:17:45.122 --> 00:17:47.664
You can't necessarily outspend the competition.
352
00:17:47.684 --> 00:17:54.250
Like you couldn't outspend me if I'm spending to my ability, um, because I got multiple services.
353
00:17:54.270 --> 00:17:54.330
Um.
354
00:17:55.617 --> 00:17:59.680
And then you don't have as much to upsell the customer, which is where a lot of profit is.
355
00:17:59.780 --> 00:18:01.601
But we'll talk about this later.
356
00:18:01.641 --> 00:18:04.183
It's one of my predictions for the future.
357
00:18:04.203 --> 00:18:09.066
I think you can do this micro brand thing in the future and cross sell across companies you own.
358
00:18:09.386 --> 00:18:15.150
But this is the big, that's the only real negative in my mind to a few service offering.
359
00:18:15.771 --> 00:18:18.653
In terms of the print stuff, what are you seeing working right now?
360
00:18:18.673 --> 00:18:22.015
Like we see door hangers working really well for gateway services.
361
00:18:23.003 --> 00:18:25.505
But then really having to grease the gears of the upsells.
362
00:18:25.525 --> 00:18:27.667
Like as soon as it's scheduled, we're calling them.
363
00:18:27.747 --> 00:18:29.429
We're trying to book them on something else.
364
00:18:30.350 --> 00:18:33.693
Doorhangers is something that I can scale because I can just keep hitting the house.
365
00:18:33.813 --> 00:18:34.793
I can have teams go out.
366
00:18:34.834 --> 00:18:35.714
I can track them.
367
00:18:37.116 --> 00:18:38.737
What are you seeing working on the postcard side?
368
00:18:38.757 --> 00:18:42.140
I know that's one thing I know you've stuck with for a long time and made work.
369
00:18:42.520 --> 00:18:44.982
Actually, I haven't brought back postcards yet.
370
00:18:45.143 --> 00:18:45.483
Oh, really?
371
00:18:45.523 --> 00:18:45.763
Okay.
372
00:18:45.783 --> 00:18:46.183
Yeah, yeah, yeah.
373
00:18:46.224 --> 00:18:46.744
Okay, interesting.
374
00:18:46.844 --> 00:18:51.708
So we haven't used postcards since 2011 or 2012.
375
00:18:51.849 --> 00:18:52.769
Oh, wow.
376
00:18:52.789 --> 00:18:54.271
Yeah, yeah, it's been a long time.
377
00:18:54.771 --> 00:18:58.254
Yeah, so this is why I'm so excited about the CityTurf business.
378
00:18:59.300 --> 00:19:06.005
is we basically have hardly done any marketing in the last very, very long time.
379
00:19:06.585 --> 00:19:09.027
It's all been some email marketing upsells.
380
00:19:09.568 --> 00:19:11.889
It's been some mediocre SEO.
381
00:19:12.730 --> 00:19:14.731
It's been some basic LSA.
382
00:19:15.092 --> 00:19:18.014
So I got back involved and I'm bringing all that stuff back.
383
00:19:18.734 --> 00:19:19.095
So,
384
00:19:20.192 --> 00:19:27.676
I don't have data yet on postcards, but I have incredible confidence from my past conversations and then just still understanding the market.
385
00:19:28.316 --> 00:19:37.161
And so in the future, when we're having the show, I'll be able to give better data on the postcards and how they're working, but I'm positive it's going to work.
386
00:19:37.301 --> 00:19:41.463
I mean, it's working for other people and it didn't stop working.
387
00:19:41.624 --> 00:19:42.364
It's continued to work.
388
00:19:42.564 --> 00:19:48.067
And I think we're shifting back to a place where the mailbox for years has been emptying out.
389
00:19:48.547 --> 00:19:49.428
There's less and less...
390
00:19:50.128 --> 00:19:51.269
mail in the mailbox.
391
00:19:51.609 --> 00:19:55.851
And so I think that favors a positive outcome on postcards again.
392
00:19:56.691 --> 00:19:58.872
To take your angle on the question, what do you see as hot?
393
00:19:58.952 --> 00:20:00.112
Is it still LSA?
394
00:20:00.413 --> 00:20:06.575
Or do you see people spending money in areas that are potentially not even the best use of their money?
395
00:20:06.675 --> 00:20:08.656
Everybody I talk to, it's all digital.
396
00:20:09.136 --> 00:20:14.799
I don't see people at all shifting back to these offline marketing techniques.
397
00:20:15.459 --> 00:20:18.941
So this is a bit of my prediction that people will start
398
00:20:19.927 --> 00:20:24.130
shifting back to some of this, but I don't see it happening in any meaningful way.
399
00:20:24.851 --> 00:20:26.792
And so it's all digital.
400
00:20:26.852 --> 00:20:27.993
It's all the typical stuff.
401
00:20:28.053 --> 00:20:31.636
Everybody I talk to is all doing the same stuff, even the really big guys.
402
00:20:31.936 --> 00:20:35.619
The difference is the big guys are way fast.
403
00:20:35.859 --> 00:20:39.963
They're using technology to respond really, really fast, or they're using...
404
00:20:40.623 --> 00:20:44.952
data to understand when to be running ads of what type with what kind of messaging.
405
00:20:44.972 --> 00:20:47.957
So they're just more sophisticated, but they're using all the same tools.
406
00:20:48.017 --> 00:20:50.021
There's no that I can't find.
407
00:20:50.242 --> 00:20:51.765
I've been looking for this like.
408
00:20:52.762 --> 00:20:54.983
wow moment of like, oh, you guys are doing this.
409
00:20:55.063 --> 00:20:56.303
That is really clever.
410
00:20:56.323 --> 00:20:57.303
This is what we're going to do.
411
00:20:57.383 --> 00:20:58.103
I have yet to see it.
412
00:20:58.323 --> 00:21:04.345
I think in general, it's a, everyone looks, that's probably where this question originally came from is like, just tell me what's working right now.
413
00:21:04.905 --> 00:21:07.166
And I think it is first off a moving target.
414
00:21:07.246 --> 00:21:13.427
Secondly, extremely dependent on your market, depending on what type of customer you're selling, depending on what service you're selling.
415
00:21:13.627 --> 00:21:19.089
Like we just talked to on turnaround here out in Louisiana and their website can hardly tell what
416
00:21:19.529 --> 00:21:21.330
what they're trying to sell, let alone who they're selling it to.
417
00:21:21.390 --> 00:21:25.331
But it's like, they are selling to probably three people in this entire city.
418
00:21:25.851 --> 00:21:26.811
And that is D.R.
419
00:21:26.831 --> 00:21:29.552
Horton, the massive builders that are coming to track housing.
420
00:21:30.292 --> 00:21:33.013
And I'm like, you guys get to your, your logo is a house.
421
00:21:33.753 --> 00:21:35.193
You don't do residential.
422
00:21:35.673 --> 00:21:42.315
And so I think being clear, who are you trying to sell to leads to how do you sell to them?
423
00:21:42.975 --> 00:21:46.016
And so if I'm selling to someone that is a commercial client and
424
00:21:46.414 --> 00:21:48.015
Doing door hangers, this is what they're proposing.
425
00:21:48.035 --> 00:21:49.196
Like, we heard you talk about door hangers.
426
00:21:49.336 --> 00:21:50.096
We're going to do door hangers.
427
00:21:50.136 --> 00:21:51.277
I'm like, no, no, no.
428
00:21:51.297 --> 00:21:54.179
You're going after three people in this city.
429
00:21:55.640 --> 00:21:57.120
And so, yeah, 100%.
430
00:21:57.280 --> 00:22:02.904
So I think it's so dependent on who are you selling, where are you selling, and what service are you selling?
431
00:22:03.645 --> 00:22:03.845
Yeah.
432
00:22:04.506 --> 00:22:04.646
Yeah.
433
00:22:04.686 --> 00:22:08.892
It's, it's, I think most of us just want to be told, go do this thing.
434
00:22:08.952 --> 00:22:18.904
But the reality is, and the, you know, I guess maybe why we do this type of show here is you've got to have a broad understanding of what's available to you and then how it really works.
435
00:22:18.944 --> 00:22:21.607
Like again, the video that I alluded to a moment ago that I,
436
00:22:22.454 --> 00:22:24.355
when you're watching this, it's been posted a week ago.
437
00:22:24.976 --> 00:22:27.318
It's about the paid tactics that you could use.
438
00:22:27.618 --> 00:22:31.701
But I start the whole thing with this idea that you have to first figure out your messaging.
439
00:22:32.041 --> 00:22:34.363
So first you figure out your audience, like you said, Mike.
440
00:22:34.443 --> 00:22:35.764
Then you figure out your messaging.
441
00:22:36.124 --> 00:22:39.807
Otherwise, you could throw any tactic you want at the greatest...
442
00:22:41.000 --> 00:22:42.141
thing out there.
443
00:22:42.161 --> 00:22:45.623
Like, let's just say the single best converting thing is in fact, LSA.
444
00:22:45.643 --> 00:22:46.283
Let's say that's it.
445
00:22:46.363 --> 00:22:52.606
But if you get the messaging wrong when they land on your website or when they call you and you're talking to them on the phone, it doesn't matter.
446
00:22:52.626 --> 00:22:53.367
It won't work for you.
447
00:22:53.387 --> 00:22:55.288
And you'll wonder, well, why is it working for this other group?
448
00:22:55.308 --> 00:22:56.008
It didn't work for me.
449
00:22:56.669 --> 00:22:57.749
Maybe it's just the messaging.
450
00:22:57.789 --> 00:23:08.355
And so this is why it's really hard to just be perfectly prescriptive here because there's so many other things involved in addition to just the tactic, like what the thing is you do to get them.
451
00:23:09.181 --> 00:23:16.507
Yeah, it's like when people say Facebook ads don't work, for example, and I go to their website and it's like, well, once they get to your site, there's no way they're converting.
452
00:23:17.748 --> 00:23:22.112
Your form is 20 fields long on a separate page, not on your front page.
453
00:23:22.132 --> 00:23:24.694
Like you don't even know if I'm servicing your area.
454
00:23:24.974 --> 00:23:31.660
And so it's the execution that actually leads to the results, not just the tactic of like, oh, use this platform or this channel.
455
00:23:32.245 --> 00:23:36.167
And so, okay, this was a little bit outside of the business scope.
456
00:23:36.367 --> 00:23:42.811
But the next question is, when someone is outgrowing their friend group, whether it be financially or mentally, what should they do?
457
00:23:43.471 --> 00:23:50.575
And so I know you've had mentors, you've had coaches, groups that you've been a part of, and even now being part of a really, really elite group.
458
00:23:51.075 --> 00:23:55.838
But for someone that is outgrowing it, they're growing their business, they're trying to get ahead.
459
00:23:56.298 --> 00:24:01.941
What would they do if they feel like they're the friends around them, either financially or mentally, they're kind of outgrowing them?
460
00:24:03.046 --> 00:24:08.629
Yeah, the three things came to mind for me that have been important for Tiffany and I.
461
00:24:09.169 --> 00:24:11.390
So one is the groups, even for Tiffany.
462
00:24:11.690 --> 00:24:17.613
So not that she was involved in the groups, but I've been in multiple types of business groups over the years.
463
00:24:18.554 --> 00:24:24.396
And only once, I was in Dan Martel's group in 2018 and 19.
464
00:24:25.277 --> 00:24:31.380
And so that was a software-only group, and there were only 10 of us in the group.
465
00:24:31.988 --> 00:24:37.239
And so other than that, I've never been in an industry-specific group, which I'm a fan of.
466
00:24:37.279 --> 00:24:40.345
I just have a really hard time finding them that I like.
467
00:24:40.726 --> 00:24:41.909
And so, but I've been in these...
468
00:24:42.860 --> 00:24:45.563
more generic higher level groups over the years.
469
00:24:46.103 --> 00:24:52.669
And so while that's been a thing I've done, Tiffany's been able to meet people in that group and we've developed friendships.
470
00:24:52.689 --> 00:25:00.897
Like even the group I used to run, which was Academy, we have a lot of friends to this day that we don't, it has nothing to do with business anymore.
471
00:25:00.917 --> 00:25:03.560
We're just friends with them and Tiffany's friends with their wives.
472
00:25:04.080 --> 00:25:05.121
Well, a lot of people.
473
00:25:05.542 --> 00:25:06.263
And so it's,
474
00:25:06.903 --> 00:25:11.987
The group element has been really valuable to us because you tend to you end up finding people like you.
475
00:25:12.007 --> 00:25:21.094
And then from my wife, Tiffany's standpoint, she meets other girls, women that are going like they may not be involved in the business whatsoever.
476
00:25:21.314 --> 00:25:24.836
But they're going on that journey because their husband's going on it.
477
00:25:24.856 --> 00:25:28.439
And they're dealing with the stuff that a wife deals with being married to an entrepreneur.
478
00:25:28.499 --> 00:25:29.380
It's a very different life.
479
00:25:29.920 --> 00:25:33.685
or very different financial situation, both good and bad at times.
480
00:25:33.725 --> 00:25:38.991
And so she has met a lot of people that would understand her and what she's been through over the years.
481
00:25:39.071 --> 00:25:43.857
Or she's passed all the challenges at this point as a wife married to an entrepreneur.
482
00:25:44.237 --> 00:25:44.438
But...
483
00:25:45.551 --> 00:25:48.013
Those individuals who are our friends might still be going through it.
484
00:25:48.033 --> 00:25:49.053
So it's good for them.
485
00:25:49.093 --> 00:25:49.914
You find your people.
486
00:25:50.394 --> 00:25:50.895
So that's one.
487
00:25:50.915 --> 00:25:52.275
I think the groups have been awesome.
488
00:25:52.416 --> 00:25:54.117
We've really made a ton of friends that way.
489
00:25:54.517 --> 00:25:57.799
The other stuff that's been good is getting involved.
490
00:25:57.839 --> 00:26:03.863
So I'm introverted, but I'm also extroverted when I get into a business situation.
491
00:26:03.883 --> 00:26:07.105
Like you put me in my world, the stuff I like, I'm extroverted.
492
00:26:07.345 --> 00:26:08.726
Otherwise, I'm a little more introverted.
493
00:26:08.746 --> 00:26:09.867
Tiffany is introverted.
494
00:26:09.887 --> 00:26:09.987
Yeah.
495
00:26:10.634 --> 00:26:14.198
And she'll come alive at an event, but she's more introverted.
496
00:26:14.238 --> 00:26:20.284
So she's even pushed herself to do the next one, and that is just get involved in stuff.
497
00:26:20.404 --> 00:26:22.907
Whether it be at the gym, she's met a lot of people.
498
00:26:22.927 --> 00:26:27.011
She used to do competitive weightlifting and stuff like that back in the day.
499
00:26:27.251 --> 00:26:28.812
So she met a lot of people at the gym.
500
00:26:28.852 --> 00:26:30.094
She got into that when she was 30.
501
00:26:30.714 --> 00:26:33.337
And so through fitness, she met people.
502
00:26:33.617 --> 00:26:33.757
Or...
503
00:26:35.019 --> 00:26:37.662
Now she's playing Mahjong, a Chinese game.
504
00:26:37.943 --> 00:26:39.545
It's some Chinese game.
505
00:26:39.585 --> 00:26:40.206
I don't even know.
506
00:26:41.187 --> 00:26:41.928
I don't know.
507
00:26:42.288 --> 00:26:44.651
So she's playing with her friends and they've met other people.
508
00:26:45.492 --> 00:26:47.996
I actually have no, I couldn't possibly explain it to you.
509
00:26:48.276 --> 00:26:50.659
I just know it takes about three hours for them to play this game.
510
00:26:51.500 --> 00:26:54.621
And so anyway, so, you know, it's just an example where she meets people.
511
00:26:54.641 --> 00:26:55.901
So like, what are the things you're into?
512
00:26:55.921 --> 00:27:00.803
Are you in a, you know, my case, I'd be in a mountain biking or snowboarding or racing or something like that.
513
00:27:01.063 --> 00:27:02.623
You meet people in those environments.
514
00:27:02.643 --> 00:27:05.544
So what are the little things you could go do to get involved?
515
00:27:06.264 --> 00:27:08.445
And then this one has actually been amazing.
516
00:27:08.805 --> 00:27:09.085
So
517
00:27:10.668 --> 00:27:12.468
our neighborhoods, the neighborhoods we've lived in.
518
00:27:12.488 --> 00:27:14.369
So we bought our first house when we were 22.
519
00:27:14.789 --> 00:27:15.509
I got married at 21.
520
00:27:15.529 --> 00:27:16.669
We bought a house when we were 22.
521
00:27:17.129 --> 00:27:23.230
And then our next neighborhood we lived in, we are still friends with those people to this day.
522
00:27:23.950 --> 00:27:29.351
And then the neighborhood I live in now, almost, I've been there seven years, almost everybody in that neighborhood owns companies.
523
00:27:29.791 --> 00:27:31.091
And we, I mean, I'm on a trip.
524
00:27:31.172 --> 00:27:33.972
I'm in the Dominican Republic right now with our neighbors across the street.
525
00:27:34.512 --> 00:27:36.092
We'll be in Cabo with some other neighbors.
526
00:27:36.552 --> 00:27:38.573
That's really, really been valuable.
527
00:27:38.913 --> 00:27:39.213
So...
528
00:27:40.293 --> 00:27:42.093
I would like where you live matters.
529
00:27:42.114 --> 00:27:43.414
I'll tell a quick story around this one.
530
00:27:43.454 --> 00:27:47.775
So I used to have and I might have talked about this in an old lawn care millionaire video.
531
00:27:48.255 --> 00:27:53.776
So in the early days of CityTurf, like beginning, I had this map behind me at my desk.
532
00:27:54.196 --> 00:27:56.357
There's a big wall map I had made of our market.
533
00:27:56.777 --> 00:27:58.857
And every time I so back then I was selling everything.
534
00:27:58.897 --> 00:28:01.538
So whenever I would talk to a lead, I'd put a.
535
00:28:02.885 --> 00:28:03.525
it didn't close them.
536
00:28:03.545 --> 00:28:04.685
I put a red pin in the map.
537
00:28:05.206 --> 00:28:07.486
Every time I closed them, I put a green pin in the map.
538
00:28:07.706 --> 00:28:12.027
So I could spin around my chair and I could see where we were getting all of our clients, what was working the best.
539
00:28:12.507 --> 00:28:14.227
And it just showed me so much.
540
00:28:14.267 --> 00:28:17.208
The other thing is half the time I'd be on the phone sitting there.
541
00:28:17.268 --> 00:28:20.089
I'd kind of be spun around looking at my map while I'm talking to this person.
542
00:28:20.109 --> 00:28:22.889
I'm like, oh, they're over in this neighborhood there.
543
00:28:22.989 --> 00:28:24.669
That's where they are, you know, looking at the map.
544
00:28:25.090 --> 00:28:27.490
Well, that's how we figured out where we were going to buy our second house.
545
00:28:28.170 --> 00:28:32.351
So I bought my second house based on where I liked all the people we were talking to because
546
00:28:32.771 --> 00:28:34.973
It was an affluent neighborhood.
547
00:28:34.993 --> 00:28:36.234
I'm like, these people are great.
548
00:28:36.534 --> 00:28:37.895
They pay their bill on time.
549
00:28:38.115 --> 00:28:39.036
They're friendly.
550
00:28:39.356 --> 00:28:41.998
They don't call us on Thursday about a party on Friday.
551
00:28:42.038 --> 00:28:44.620
They're just down to earth and they're successful.
552
00:28:44.961 --> 00:28:45.901
That's how we bought that house.
553
00:28:45.921 --> 00:28:47.242
And then we made friends with a ton of people.
554
00:28:47.262 --> 00:28:48.543
So we were very thoughtful about it.
555
00:28:48.583 --> 00:28:53.127
So that's really how we found our friend group over the years.
556
00:28:53.167 --> 00:28:54.228
It's been those three things.
557
00:28:55.378 --> 00:28:55.939
That's super cool.
558
00:28:56.279 --> 00:28:56.439
Yeah.
559
00:28:56.640 --> 00:29:08.315
For myself, like when I thought about this question, I, it's funny, a couple of years ago, I was asked like, who are the two people you, you, I think I might've shared this with you, uh, two people that you want to like spend time with or talk to.
560
00:29:09.116 --> 00:29:11.640
And it was Dr. Cashy and you.
561
00:29:12.350 --> 00:29:31.470
And so one of the things that I would say to someone that is in this situation when they're trying to out, they felt like they've outgrown their friend group is grow a big enough business and gain skills to where you can actually offer value to other people.
562
00:29:32.073 --> 00:29:43.339
And even though they might be ahead of you, but that you have a skill that is valuable or is rare that they want to either learn from you or there's something that they can take from you as well.
563
00:29:43.359 --> 00:29:44.259
So you can contribute.
564
00:29:44.479 --> 00:29:46.700
Like if you have so much value, you can contribute.
565
00:29:47.641 --> 00:29:52.283
Another one was kind of in relation to was like looking for ways to build up the people you want to be around.
566
00:29:52.934 --> 00:30:09.904
And so like, whether it be supporting what they're doing or contributing to their community or their group, or their, even if it's like something like a course or whatever it might be, if you want to be around that group, sometimes just contributing to it is a way of almost paying the entrance fee to get around in those circles.
567
00:30:10.364 --> 00:30:12.165
I think a lot of people are afraid to do that.
568
00:30:12.446 --> 00:30:17.569
They feel like it is, it's a little humbling, like, Hey, I am the student and like taking on that hat.
569
00:30:18.189 --> 00:30:19.750
But, uh, that's been helpful for me.
570
00:30:20.290 --> 00:30:21.251
Another one was, uh.
571
00:30:22.568 --> 00:30:29.110
For someone that can't even afford to do that, going even a little lower, is realizing that inverse comparisons are actually really helpful.
572
00:30:29.610 --> 00:30:34.911
And that is, I see this happening, whether it be in a family or in my friend group, and I don't want to be that.
573
00:30:35.231 --> 00:30:36.131
Oh, that's good.
574
00:30:36.652 --> 00:30:41.893
I'm going to take actions that are opposite of what they're doing in order to avoid the outcome that they have.
575
00:30:42.453 --> 00:30:44.514
And being really clear, like, this is the life I want to have.
576
00:30:45.154 --> 00:30:53.598
And if someone's going to give me their opinion or tell me what I should do, or they're going to perpetrate their ideas on me, I got to ask myself, do I want the life they're living?
577
00:30:53.698 --> 00:30:54.478
And if not...
578
00:30:55.594 --> 00:30:58.175
Invert and do the opposite.
579
00:30:58.635 --> 00:31:19.619
The last thing, the one I had, again, thinking about someone who maybe just getting started, doesn't have the resources, doesn't have a lot of skills, is nowadays with online communities being so possible and learning from mentors without having to meet them, without paying a dollar, you can listen to the best minds if you just open yourself up to books, podcasts, things like that.
580
00:31:19.919 --> 00:31:21.059
I think that's where I would start.
581
00:31:21.359 --> 00:31:23.460
But as you kind of move up that chain is like,
582
00:31:24.363 --> 00:31:32.927
realizing that having skills that other people find valuable and be able to contribute to what they're doing opens a lot of doors.
583
00:31:33.267 --> 00:31:33.988
I would agree with that.
584
00:31:34.568 --> 00:31:34.868
Yeah.
585
00:31:35.308 --> 00:31:36.849
You, and you raised a good point there.
586
00:31:36.869 --> 00:31:39.210
So I, I've mentioned a lot, Dan Kennedy.
587
00:31:39.250 --> 00:31:40.911
I was highly influenced by Dan Kennedy.
588
00:31:41.071 --> 00:31:44.193
He just, he introduced me to a bunch of guys I did actually get to know.
589
00:31:45.053 --> 00:31:50.694
And, um, but the way I talk about it sometimes, like what I just said, he introduced me to, I never met Dan Kennedy.
590
00:31:51.014 --> 00:32:00.717
I shook his hand maybe one time or something, you know, I didn't, I didn't know him, but being in that environment, in his world, I met a bunch of other guys that were ridiculously successful.
591
00:32:00.737 --> 00:32:04.278
And I've, you know, maybe become friends with them or one of them, a guy named Yannick Silver.
592
00:32:04.298 --> 00:32:05.338
I used to be in a group with him.
593
00:32:05.878 --> 00:32:09.059
And so, you know, in his group back in the day, way back in the day.
594
00:32:09.139 --> 00:32:11.699
And so I met, came into his world because of Dan Kennedy.
595
00:32:15.200 --> 00:32:24.151
Um, like how can you even get in this vicinity of these individuals where it's like, well, right now I can't really afford to be part of this world or this group, but you get in this world, you start to learn.
596
00:32:24.191 --> 00:32:30.299
And eventually one day you'll, you'll probably get to know people in that world, or maybe even be able to afford to be in, in the group.
597
00:32:31.023 --> 00:32:31.863
And then it can take time.
598
00:32:31.883 --> 00:32:36.666
Like, for example, if someone's listening to this and they're like, oh, I want to meet, I'll just make up a name, someone like Alex Ramosi.
599
00:32:36.686 --> 00:32:41.328
It's like, there's probably no way you're going to offer value to where he's like, hey, I need to take this person out for dinner.
600
00:32:41.448 --> 00:32:41.769
Yeah, yeah.
601
00:32:41.869 --> 00:32:49.532
But you can build a big business in your local area to where you go meet an HVAC company or a different industry or maybe the mayor or like a big realtor.
602
00:32:49.753 --> 00:32:52.574
You start taking things from them, making your business even bigger.
603
00:32:52.794 --> 00:32:53.895
Then you start to dominate your market.
604
00:32:53.915 --> 00:32:55.255
Then you start to do some private equity deals.
605
00:32:55.295 --> 00:32:59.878
Okay, that's something that maybe Alex, somebody down the road might find some value talking to you.
606
00:33:00.178 --> 00:33:00.278
Yeah.
607
00:33:00.278 --> 00:33:09.726
It's like building something of value before ever thinking that someone that is leagues ahead of you is going to spend any time with you whatsoever.
608
00:33:10.067 --> 00:33:10.227
Yeah.
609
00:33:10.687 --> 00:33:11.568
Yeah, it's good advice.
610
00:33:12.068 --> 00:33:13.149
All right, let's move on to the next one.
611
00:33:13.710 --> 00:33:15.772
By the way, if you're – Yeah, we are moving quick.
612
00:33:16.152 --> 00:33:19.195
I mean like if you're watching me do this, I apologize because –
613
00:33:19.687 --> 00:33:21.608
I should not have sat outside.
614
00:33:22.489 --> 00:33:26.432
I'm just like, I apologize to everybody.
615
00:33:26.672 --> 00:33:30.835
It felt good at first and I could get decent lighting instead of sitting in a dark room.
616
00:33:30.875 --> 00:33:32.296
But oh my gosh, I made a mistake.
617
00:33:32.336 --> 00:33:36.279
So hey, in the last episode, they said our hot takes needed to be hotter.
618
00:33:36.299 --> 00:33:36.819
Yeah.
619
00:33:39.041 --> 00:33:39.762
be a little sharper.
620
00:33:39.922 --> 00:33:44.865
Some people pushing back on my flat earth conspiracies say I need to take more political stances.
621
00:33:44.885 --> 00:33:48.208
So you're going to love the comments from last week.
622
00:33:48.248 --> 00:33:50.910
We'll work our way up to that.
623
00:33:50.990 --> 00:33:52.231
I have thought with our openings.
624
00:33:52.291 --> 00:34:01.037
So like now we're in this trend of this thing about the openings, like where I do one and then you do one of like, man, what is this going to look like in about nine months?
625
00:34:01.237 --> 00:34:03.439
We keep trying to step this up.
626
00:34:03.479 --> 00:34:06.001
I'm going to be coming to these things like nervous, like, oh, great.
627
00:34:06.021 --> 00:34:07.162
What am I about to have to answer?
628
00:34:07.642 --> 00:34:10.604
Hey, I've so inspired by the Alden pod.
629
00:34:11.004 --> 00:34:12.605
They had talked about how they built their docket.
630
00:34:13.225 --> 00:34:18.448
So I on the weekend, I created this whole website that it takes all of our transcripts.
631
00:34:19.029 --> 00:34:26.373
It takes all the recent news and injects it all together to determine like topics for me and then listens to like read off articles.
632
00:34:26.393 --> 00:34:30.495
And then I create a 20 minute thing of like interesting stuff that's happening in our industry right now.
633
00:34:30.535 --> 00:34:31.216
I listen to it.
634
00:34:31.536 --> 00:34:32.136
It's pretty cool.
635
00:34:32.437 --> 00:34:33.117
I'll send you the link.
636
00:34:33.397 --> 00:34:33.697
Okay.
637
00:34:34.157 --> 00:34:37.198
And are you thinking that we could use this for our docket in the future or what do you think?
638
00:34:37.258 --> 00:34:37.838
Oh, I don't know.
639
00:34:38.038 --> 00:34:40.479
Honestly, I think I've come up with the ideas is the best.
640
00:34:40.739 --> 00:34:44.640
But what I can do is I take like our docket, for example, the days I put it in there like my thoughts.
641
00:34:44.940 --> 00:34:49.021
And I tell it, hey, do deep research and give me articles or stats or things that are happening right now.
642
00:34:49.201 --> 00:34:49.661
Okay.
643
00:34:49.681 --> 00:34:50.441
And it's been pretty cool.
644
00:34:50.501 --> 00:34:51.101
I like listening.
645
00:34:51.121 --> 00:34:56.123
So like I can just I built a little like audio player, you can just play and then like 2x speed it stuff like that.
646
00:34:56.143 --> 00:34:56.863
Okay, cool.
647
00:34:57.063 --> 00:34:57.303
All right.
648
00:34:58.164 --> 00:35:02.808
But, you know, we can always mix a little politics, you know, the really hard, you know, hard hitting questions.
649
00:35:03.249 --> 00:35:04.190
That's what everyone wants to know.
650
00:35:04.250 --> 00:35:06.232
So we'll see where we end up.
651
00:35:06.712 --> 00:35:06.992
All right.
652
00:35:08.534 --> 00:35:10.015
I want to talk about failures.
653
00:35:10.776 --> 00:35:14.600
And I want to talk about this mostly because...
654
00:35:15.581 --> 00:35:19.102
I think a lot of people, they'll hear yourself or myself talking.
655
00:35:19.122 --> 00:35:21.703
And a lot of times it is all good.
656
00:35:22.163 --> 00:35:26.944
And I think for a lot of people, they forget one little asterisk that you've been in business for probably 30 plus years.
657
00:35:27.324 --> 00:35:28.525
Yeah, I started when I was 14.
658
00:35:28.585 --> 00:35:30.105
So yeah, really.
659
00:35:30.385 --> 00:35:30.945
So yeah.
660
00:35:31.325 --> 00:35:39.848
And so for the person that's in that four or five years, I feel for them because they're going through a time and it feels like where you're at, where I'm at is so far away.
661
00:35:40.308 --> 00:35:41.368
And so I want to ask this question.
662
00:35:41.408 --> 00:35:44.789
I was like, what bet or big business investment did you make
663
00:35:45.610 --> 00:35:51.372
And it was a big fail and detail the bet, what went wrong and what you would do differently next time.
664
00:35:51.852 --> 00:35:52.732
And also what did you learn?
665
00:35:52.832 --> 00:36:00.795
I know there's kind of a bunch of questions in there, but if you have specific stories and feel free to make it more of a story, not just like, here's what I learned, what happened?
666
00:36:00.835 --> 00:36:02.275
What was the thing that you actually bet it on?
667
00:36:02.475 --> 00:36:05.896
Because I think a lot of business owners, they do make a bet on a service or a new market or a
668
00:36:08.618 --> 00:36:09.339
They become wrong.
669
00:36:09.620 --> 00:36:11.423
And then they beat themselves up over it so many times.
670
00:36:11.443 --> 00:36:15.612
A lot of times because you and I might mention it here and there, but it's not, we don't make a whole video about it.
671
00:36:15.652 --> 00:36:16.914
We don't mention it frequently.
672
00:36:17.155 --> 00:36:20.221
Like every single one of our intros is the size of business we built, not everything.
673
00:36:20.758 --> 00:36:21.439
all our failures.
674
00:36:21.919 --> 00:36:23.681
And so feel free to go tee that one up.
675
00:36:24.161 --> 00:36:24.362
Yeah.
676
00:36:24.422 --> 00:36:24.682
Okay.
677
00:36:24.702 --> 00:36:33.310
So this was a great question and I have three for you, but I'm going to let you pick whichever one you want or two.
678
00:36:33.351 --> 00:36:33.791
I don't care.
679
00:36:33.811 --> 00:36:34.432
Okay.
680
00:36:34.452 --> 00:36:37.414
So two of them are business failures.
681
00:36:37.715 --> 00:36:40.057
So my very first software company when I was 23,
682
00:36:42.179 --> 00:36:49.644
And then another one was a million dollars raised for a healthcare software company from my consulting clients where they brought me into the deal.
683
00:36:50.104 --> 00:36:51.124
That's a second failure.
684
00:36:51.845 --> 00:36:59.169
And then the third one is I think the service autopilot V3 concept was a complete and utter failure.
685
00:36:59.610 --> 00:36:59.930
And I can.
686
00:37:00.030 --> 00:37:01.331
Oh, you think this is going to be this?
687
00:37:01.351 --> 00:37:02.791
You think this is going to be a race?
688
00:37:03.152 --> 00:37:04.132
Of course I want to hear V3.
689
00:37:04.152 --> 00:37:05.913
Everyone wants to hear about V3.
690
00:37:07.414 --> 00:37:12.279
I think V3 is more interesting for you and less interesting for everybody else, except for those that maybe felt it.
691
00:37:12.299 --> 00:37:13.179
And it's a pretty quick one.
692
00:37:13.199 --> 00:37:16.062
So what would you, what do you want me to go?
693
00:37:16.814 --> 00:37:22.256
Okay, I just want to hear about V3 because I listed all mine off and I took the two most recent ones.
694
00:37:22.716 --> 00:37:24.016
So more recent, the better.
695
00:37:24.056 --> 00:37:24.796
I like more recent.
696
00:37:24.957 --> 00:37:26.717
Okay, so this one's actually pretty quick.
697
00:37:26.737 --> 00:37:27.897
So if I need to do another one, let me know.
698
00:37:28.258 --> 00:37:32.379
So Service Autopilot V3, there was a learning that came from it.
699
00:37:32.459 --> 00:37:37.700
The failure happened in my mind because we sold the business.
700
00:37:38.241 --> 00:37:39.381
I mean, that's the short of it.
701
00:37:40.101 --> 00:37:45.723
But we also saw the clues of maybe making a mistake.
702
00:37:46.922 --> 00:37:48.183
right after we sold the business.
703
00:37:48.503 --> 00:37:49.604
So here's the idea.
704
00:37:50.124 --> 00:37:55.947
So Service Autopilot, we started the company and call it very beginning of 2010.
705
00:37:55.987 --> 00:38:04.312
Like we were talking about in 2019, we'd done a little bit of work on it at the very, very end of 2019, but we really went all in building.
706
00:38:04.332 --> 00:38:10.875
So the system starting in 2010 actually had a major change in interface in 2012, end of 2012.
707
00:38:14.057 --> 00:38:17.820
And then there was, but after that, it was pretty much the interface.
708
00:38:18.440 --> 00:38:18.701
Okay.
709
00:38:18.781 --> 00:38:25.366
And so, and then up until about 2014, I was very involved in what got into the system and the design.
710
00:38:26.026 --> 00:38:28.988
And I was very much on the phone doing all the sales calls.
711
00:38:29.008 --> 00:38:29.389
Yeah.
712
00:38:29.849 --> 00:38:31.812
or most of them into 2014.
713
00:38:31.912 --> 00:38:33.855
And so I was very close to the system.
714
00:38:34.255 --> 00:38:36.679
After that, the business just started going.
715
00:38:36.739 --> 00:38:37.880
I was busy doing so many things.
716
00:38:38.021 --> 00:38:40.284
I was in meetings, but I was less involved.
717
00:38:41.005 --> 00:38:45.271
And I think that a little bit hurt the business in the sense that...
718
00:38:46.933 --> 00:38:48.194
I should have been more involved in...
719
00:38:48.334 --> 00:38:56.137
I was very involved, but I just wasn't quite as involved in what the interface was looking like and how... Like, is it right for the client?
720
00:38:56.217 --> 00:39:01.399
I was also now so removed from CityTurf because I was consumed by Service Autopilot.
721
00:39:01.419 --> 00:39:12.324
So now I'm not even living in the real world of CityTurf anymore because I'm not... Like, Philip will tell me what we need or don't need, but I'm also hearing it from 90 other companies of different sizes.
722
00:39:12.704 --> 00:39:14.124
Everybody's got a different opinion.
723
00:39:14.144 --> 00:39:15.325
And so it just...
724
00:39:16.505 --> 00:39:20.427
it got to a place where I, the simplest way to say it is I wasn't involved.
725
00:39:20.447 --> 00:39:31.673
And I think it was a little negative for, so, you know, you, you arrive at this place where you're like, man, this system is really advanced, but my goodness, if you've been using it for a long time, you love it.
726
00:39:31.693 --> 00:39:33.814
But if you're new to it, you're, you're intimidated.
727
00:39:33.974 --> 00:39:35.395
Like you were just flat out intimidated.
728
00:39:35.415 --> 00:39:36.255
How do I get started?
729
00:39:36.675 --> 00:39:37.536
So John and I,
730
00:39:38.216 --> 00:39:43.622
we're at this place where we really need to build a new interface and we need to rethink it.
731
00:39:44.022 --> 00:39:53.372
So we really started thinking about what the major design principles are of building a new interface and, you know, what was the latest and greatest, um,
732
00:39:53.452 --> 00:39:55.993
The other thing that we needed to solve for is we needed an API.
733
00:39:56.033 --> 00:40:00.955
That was like after automations, the API was the next critical thing that had to get into service autopilot.
734
00:40:01.275 --> 00:40:08.498
And so in rebuilding parts of the system and the interface, it enabled us to also do this API.
735
00:40:08.518 --> 00:40:13.981
That wasn't so much of a thing back in 2010 when we were like it existed, but it wasn't a thing like there today.
736
00:40:14.781 --> 00:40:24.106
And so our idea was that we were going to create these screens where you could flip back and forth between what we called version 2 and version 3 of Service Autopilot.
737
00:40:25.447 --> 00:40:33.112
And the problem is that we didn't expect to sell the company, and this was a huge financial investment.
738
00:40:33.272 --> 00:40:38.535
Because what ended up happening, I don't remember how many engineers we had, but let's just make up a number and say we had 18 engineers.
739
00:40:38.835 --> 00:40:39.575
I don't know what the number is.
740
00:40:40.456 --> 00:40:43.698
It wasn't actually 18 developers, but you'd have your testers, and you have your...
741
00:40:44.570 --> 00:40:49.135
your people that manage everything, but you almost sort of been like we would have carved out nine of them.
742
00:40:49.475 --> 00:40:53.480
I'm just using this as an example to work on the new interface, new backend stuff.
743
00:40:53.540 --> 00:40:55.682
And we would have kept nine on the system.
744
00:40:56.002 --> 00:41:05.232
So massive investment, both financially and a massive investment in terms of slowing down the functionality coming into the system for the existing and new members.
745
00:41:05.252 --> 00:41:05.773
Yeah.
746
00:41:06.198 --> 00:41:09.440
And then the problem was we sold the business.
747
00:41:09.741 --> 00:41:22.490
And when we sold the business, when COVID happened, and we were kind of forced to lay off 11% of our team, which most of them were engineers and customer service, it just completely derailed that project.
748
00:41:22.830 --> 00:41:27.673
And so what happened is the vision that we had created for V3 never got executed.
749
00:41:27.713 --> 00:41:30.936
So what you saw from V3 was not what we were creating.
750
00:41:31.516 --> 00:41:32.317
It just never...
751
00:41:33.443 --> 00:41:35.204
It never came to pass.
752
00:41:35.644 --> 00:41:37.865
So that was not John and I's vision.
753
00:41:37.925 --> 00:41:42.067
Half of the designs that are in the system, I wasn't even involved in those things.
754
00:41:42.987 --> 00:41:43.928
So that's the setup.
755
00:41:44.028 --> 00:41:45.449
But the learning lesson is this.
756
00:41:46.669 --> 00:41:49.070
And this is why I wasn't sure if it would really be interesting to everybody else.
757
00:41:49.430 --> 00:41:52.212
If I was doing it all over again, I would not have tried to do it.
758
00:41:52.252 --> 00:41:54.573
I would have just built a whole new software system from the ground up.
759
00:41:55.276 --> 00:41:55.777
and flip them.
760
00:41:56.217 --> 00:41:58.840
If you look at somebody like a, and a lot of people don't do this.
761
00:41:59.500 --> 00:42:04.605
Like if you look at a Salesforce, a Salesforce is a very, very slow progression of technology.
762
00:42:04.626 --> 00:42:05.847
It still looks very old.
763
00:42:06.828 --> 00:42:09.611
In my opinion, like it still looks older than a lot of the newer technologies.
764
00:42:09.631 --> 00:42:13.414
They very, very slowly iterate on their, um, um,
765
00:42:14.135 --> 00:42:24.657
when they have a winning product, they either really slowly iterate, iterate, and they sort of rely on a deep penetration of the market, brand recognition, and they continue to win.
766
00:42:25.498 --> 00:42:28.298
And then there are other companies that have a smaller footprint.
767
00:42:28.358 --> 00:42:30.159
I'll use somebody like 37 signals.
768
00:42:30.259 --> 00:42:33.259
If you look at how they do their stuff, they build a new system each time.
769
00:42:34.100 --> 00:42:39.161
So like base camp three is a new system or whatever, you know, like, so, and that John and I,
770
00:42:40.180 --> 00:42:41.943
Again, I don't know if this was that interesting to people.
771
00:42:42.143 --> 00:42:46.068
Our big conclusion was if we were doing it all over again, we would have just started over.
772
00:42:46.229 --> 00:42:48.031
We might have kept the business layer.
773
00:42:48.272 --> 00:42:49.594
We would have just built a new system.
774
00:42:49.954 --> 00:42:51.056
Everybody could stay on V2.
775
00:42:52.367 --> 00:42:56.251
And then someday you can start coming up on V3 and someday we'd only sell V3.
776
00:42:56.551 --> 00:42:58.152
We didn't we thought about that idea.
777
00:42:58.192 --> 00:43:00.414
But the nightmare supporting two code bases.
778
00:43:01.055 --> 00:43:04.778
But the problem is you end up with two code bases to a degree anyway with different interfaces.
779
00:43:05.299 --> 00:43:08.041
And so that was a huge money mistake.
780
00:43:08.802 --> 00:43:13.927
And had we known that we were selling the business, we would have never done it because we didn't set up the buyer very well.
781
00:43:14.207 --> 00:43:18.491
They would have had to stay exactly on our plan and been committed to investing that kind of money.
782
00:43:18.911 --> 00:43:25.797
And when somebody buys your company, whether it's a software company or another type of company, they need to make as much profit as they can to pay for the deal.
783
00:43:25.837 --> 00:43:35.685
Like they may not have the same time horizon or they're going to come in and they got people above them and they have to hit their numbers like, hey, we could be allocating a million and a half or two million dollars a year to this new thing you guys are working on.
784
00:43:35.985 --> 00:43:37.727
We could take that two million, put it into sales.
785
00:43:38.267 --> 00:43:39.247
That's what they're going to do.
786
00:43:39.707 --> 00:43:42.288
And so that was the two failures.
787
00:43:42.488 --> 00:43:44.909
One, it wasn't a good setup for somebody acquiring us.
788
00:43:44.969 --> 00:43:51.190
I wish if we had known, I would have never done that because it puts the new buyer in a position that there's no way they're going to continue it.
789
00:43:51.430 --> 00:43:55.171
And then two, we would have approached it completely different based on what we learned.
790
00:43:55.191 --> 00:43:56.691
We thought we had this clever idea.
791
00:43:56.931 --> 00:43:58.232
We thought it'd be better for the client.
792
00:43:58.292 --> 00:43:59.692
You could just switch between screens.
793
00:44:00.292 --> 00:44:10.817
But I'll tell you, as we got into the system, there was some stuff you just could not let the clients... Tickets, which are absolute, utter, in my opinion, disaster now compared to even what they used to be.
794
00:44:11.597 --> 00:44:13.738
And we couldn't let people switch between.
795
00:44:13.758 --> 00:44:14.639
It wasn't even possible.
796
00:44:15.619 --> 00:44:18.400
I don't know if that was interesting, but that was my big learning.
797
00:44:18.800 --> 00:44:20.341
Yeah, I thought it might be interesting for you.
798
00:44:21.101 --> 00:44:21.922
Yeah, no.
799
00:44:22.242 --> 00:44:23.883
Not to mention, here's the other thing I've learned.
800
00:44:23.923 --> 00:44:24.063
Yeah.
801
00:44:25.092 --> 00:44:26.874
We lived in two worlds in server-solid pilot.
802
00:44:26.954 --> 00:44:30.718
Some people utterly love, love the system.
803
00:44:31.598 --> 00:44:36.363
Like love the screens and like tons of information compressed into one screen.
804
00:44:36.403 --> 00:44:36.964
It's like super.
805
00:44:37.284 --> 00:44:39.746
So if you're a power user, they felt it was very fast.
806
00:44:40.127 --> 00:44:47.374
As soon as you move to progressive exposure, progressive design, and you hide things and things show up when you need them, which is what V3 was trying to move to.
807
00:44:47.914 --> 00:44:49.796
The old power users like this is lower.
808
00:44:50.057 --> 00:44:51.378
You just added two clicks.
809
00:44:51.418 --> 00:44:51.999
They hate it.
810
00:44:52.279 --> 00:44:55.943
But the new users from onboarding got it faster than.
811
00:44:56.023 --> 00:44:58.506
And so it's like now you're living in two worlds and you can't win.
812
00:44:59.407 --> 00:45:04.092
And so there was never going to be a moment where 5,000 of our old.
813
00:45:04.132 --> 00:45:04.713
Now we'll go.
814
00:45:04.753 --> 00:45:05.794
I'll go use 4,000.
815
00:45:05.814 --> 00:45:09.138
There would be never going to be a moment that 4,000 of our old users were
816
00:45:09.358 --> 00:45:12.121
We're going to go to Mary in the office who doesn't want change.
817
00:45:12.141 --> 00:45:14.023
And she's going to be like, yeah, let's move to V3.
818
00:45:14.063 --> 00:45:15.784
She's always going to want to stay in V2.
819
00:45:16.165 --> 00:45:18.047
So someday you are going to have to kill that thing.
820
00:45:18.227 --> 00:45:19.368
So a little background.
821
00:45:20.240 --> 00:45:29.807
Yeah, there's been many times where I have weighed out the pros and cons, and I always refer in my mind back to V2 versus V3 and the confusion for our office.
822
00:45:29.847 --> 00:45:31.928
And it was just like, OK, we can't do it that way.
823
00:45:31.948 --> 00:45:35.350
We just got to swap everyone over, deal with some collateral damage.
824
00:45:35.811 --> 00:45:40.314
Because to your point, do we try to make everyone happy by having both?
825
00:45:41.174 --> 00:45:46.117
Or having a toggle or do you say it's new and 10% of you're going to hate me for the next two months.
826
00:45:46.797 --> 00:45:48.538
And there's no right or wrong.
827
00:45:48.558 --> 00:45:50.800
It's just a matter of like what shade of bad do you want?
828
00:45:51.520 --> 00:45:57.884
Because you're going to you think it's an upgrade and maybe a new member, but then you're throwing your existing members under the bus or they feel that way.
829
00:45:59.272 --> 00:46:09.436
One of the reasons why I would have been tempted to build the new system is because going back to 2010, I mean, tech is nothing like it's like not even the same thing.
830
00:46:09.456 --> 00:46:10.617
You know, I've said it before.
831
00:46:10.657 --> 00:46:11.917
There's no Stripe back then.
832
00:46:11.957 --> 00:46:13.698
You had to build everything from scratch.
833
00:46:14.338 --> 00:46:19.440
It's just the way you hosted was like if you moved to Azure, you code around the Azure hosting system.
834
00:46:19.460 --> 00:46:20.040
We were running on.
835
00:46:20.180 --> 00:46:21.441
I say everything's different.
836
00:46:21.801 --> 00:46:24.122
And so there were also these underlying things.
837
00:46:24.162 --> 00:46:27.003
It's like, OK, well, we could put a new interface on it, make it look good.
838
00:46:28.289 --> 00:46:30.171
Or we should just rebuild some of this stuff.
839
00:46:30.311 --> 00:46:39.198
And the reason why the two system idea, which is a nightmare, and I might have gone down that road and then we'd be having this conversation and be like, that's the dumbest idea I've ever come up with.
840
00:46:39.538 --> 00:46:45.163
But the reason for it is because you need to buy yourself a bunch of time to add functionality to that.
841
00:46:45.243 --> 00:46:46.184
There's no way.
842
00:46:46.304 --> 00:46:51.228
And so you could bring in, I could bring smaller companies onto that platform and only let them start there.
843
00:46:51.728 --> 00:46:53.650
And the platform would grow with the companies.
844
00:46:53.830 --> 00:46:56.352
And that was a little bit of the idea why I would have done it that way.
845
00:46:57.392 --> 00:46:57.912
Very interesting.
846
00:46:58.092 --> 00:46:58.372
All right.
847
00:46:58.633 --> 00:46:59.973
So I got two failures.
848
00:47:00.033 --> 00:47:01.254
I had an eight.
849
00:47:01.734 --> 00:47:03.375
I took the most recent two.
850
00:47:03.715 --> 00:47:05.035
Maybe we'll do this again sometime.
851
00:47:05.396 --> 00:47:07.336
I think it's a great topic.
852
00:47:07.376 --> 00:47:12.779
To your point, people see where somebody is at on social media where we're at today and they feel like they're failing.
853
00:47:13.479 --> 00:47:15.460
Like if you could have come along for the ride.
854
00:47:16.493 --> 00:47:20.795
We just couldn't afford the camera back when we were failing.
855
00:47:20.815 --> 00:47:22.655
We didn't want the camera on at that point.
856
00:47:23.496 --> 00:47:23.976
So, okay.
857
00:47:24.036 --> 00:47:26.217
So first one is about 2023.
858
00:47:26.757 --> 00:47:31.559
And that's when I saw chat to be come out, what AI was going to do.
859
00:47:31.599 --> 00:47:35.540
And I jumped on too early to the phone being answered by AI.
860
00:47:36.201 --> 00:47:40.542
And I actually don't think I made a huge mistake in the technology and what we did.
861
00:47:40.582 --> 00:47:41.643
We invested a lot into it.
862
00:47:42.303 --> 00:47:42.483
Um,
863
00:47:43.595 --> 00:47:46.077
I did a really poor job of rolling out Augusta.
864
00:47:47.038 --> 00:47:54.243
And it was right around that time we ended up forming the France Advisory Council and just changing the way we rolled stuff out.
865
00:47:54.843 --> 00:47:56.885
I was very much like move fast and break things.
866
00:47:57.425 --> 00:48:02.949
And at that point, as we crossed like 90, 100, 110 locations, I needed to change my weight of leadership.
867
00:48:03.409 --> 00:48:07.150
And so it's essentially like, hey, next Wednesday, we're swapping over.
868
00:48:07.230 --> 00:48:08.971
All phone calls are being answered by AI.
869
00:48:09.611 --> 00:48:11.931
And if they have trouble, they'll get handed off to a human agent.
870
00:48:12.472 --> 00:48:13.952
And I just rolled it out really poorly.
871
00:48:13.972 --> 00:48:15.793
It's just like a lack of experience on my part.
872
00:48:16.293 --> 00:48:20.654
And it was like a big revolt from Augusta and understandably because I just rolled it out poorly.
873
00:48:21.294 --> 00:48:31.097
And so I don't I do not regret the investment in learning the technology because I feel like I have a very foundational understanding of like where the hiccups are.
874
00:48:31.868 --> 00:48:40.933
Even just learning a ton about phonetics and how the AI understands the words and puts them together and when should we text the client for an email address or an address?
875
00:48:41.273 --> 00:48:42.073
When should we clarify?
876
00:48:42.153 --> 00:48:44.675
How should we handle when it's getting confused?
877
00:48:45.015 --> 00:48:51.178
I learned a lot, but the output and what our owners wanted was not that.
878
00:48:52.105 --> 00:48:57.931
And it's especially it started actually getting worse, even though the technology getting better, like latency was getting better.
879
00:48:58.491 --> 00:48:59.933
Adoption of the tech was getting better.
880
00:49:00.113 --> 00:49:00.633
Everything was better.
881
00:49:01.134 --> 00:49:03.176
And the customer satisfaction was going down.
882
00:49:03.696 --> 00:49:08.841
And a lot of it was because AI started to become this thing where as soon as you knew something was AI, I'm against it.
883
00:49:09.582 --> 00:49:15.027
And so that's what really tripped my like, okay, we have to change and had to swap back.
884
00:49:15.810 --> 00:49:21.632
is because customer satisfaction score is going down as we were making the technology better and I was investing more into it.
885
00:49:22.152 --> 00:49:27.754
And so it just became very clear that maybe the technology is it is the future, but it is not now.
886
00:49:28.154 --> 00:49:33.316
And trying to force it down the throats of the owners or the customers, for that matter, was a mistake on my part.
887
00:49:33.736 --> 00:49:35.497
And so I really regret how I rolled it out.
888
00:49:36.137 --> 00:49:39.919
So are you long short on AI answering all your phone calls in five years?
889
00:49:40.559 --> 00:49:41.099
Oh, very long.
890
00:49:41.299 --> 00:49:41.739
Very long.
891
00:49:41.959 --> 00:49:43.140
You think 100% of calls?
892
00:49:44.077 --> 00:49:44.497
I think so.
893
00:49:44.778 --> 00:49:46.519
Yeah.
894
00:49:47.079 --> 00:49:53.544
I think there'll be a backup of humans, but it'll take five years.
895
00:49:53.944 --> 00:49:54.665
Ugh, snap.
896
00:49:54.905 --> 00:49:58.868
Yeah, it's just a hard question because 100% five years, that's where I got stuck.
897
00:49:59.448 --> 00:49:59.708
Yeah.
898
00:49:59.728 --> 00:50:01.109
But I could see a lot.
899
00:50:01.690 --> 00:50:02.751
I mean, I could see the future now.
900
00:50:02.771 --> 00:50:03.791
Here's the thing.
901
00:50:03.811 --> 00:50:04.912
The capabilities are there.
902
00:50:05.393 --> 00:50:07.294
It's does the customer want that?
903
00:50:07.634 --> 00:50:07.954
100%.
904
00:50:08.355 --> 00:50:09.516
We talked about this before.
905
00:50:09.676 --> 00:50:11.357
Listening to call recordings is painful.
906
00:50:11.997 --> 00:50:12.278
No, totally.
907
00:50:12.298 --> 00:50:12.618
Totally.
908
00:50:13.517 --> 00:50:13.697
Yeah.
909
00:50:13.917 --> 00:50:18.040
And the thing is, if you don't tell them that it is AI and then they find out later, they feel tricked.
910
00:50:18.080 --> 00:50:20.081
Then you're like throwing all your existing customers under the bus.
911
00:50:20.662 --> 00:50:22.143
And so is it capable?
912
00:50:22.203 --> 00:50:23.904
I actually think it's like way more capable.
913
00:50:23.944 --> 00:50:26.666
Even when we started compared to now, it's like way better.
914
00:50:27.106 --> 00:50:34.671
But the customer satisfaction is lower now than back then because the overall kind of trend against AI is there.
915
00:50:35.231 --> 00:50:37.973
And so, yeah, that was just my lack of
916
00:50:38.924 --> 00:50:41.185
leadership skills at that point, I think, and how I rolled it out.
917
00:50:41.485 --> 00:50:45.986
So you would have made the investment again because of all the learnings you got from it.
918
00:50:46.326 --> 00:50:50.007
Well, you said you didn't.
919
00:50:50.167 --> 00:50:51.347
Okay, so not regretting it.
920
00:50:51.367 --> 00:50:53.308
We're trying to make lemonade out of this lemonade.
921
00:50:53.568 --> 00:50:57.969
You wouldn't do it again, but given that you did it, you've learned this stuff and it's always worth it.
922
00:50:57.989 --> 00:50:58.169
Yeah.
923
00:50:58.429 --> 00:51:02.010
I probably took all of our profits that year and invested it into...
924
00:51:02.778 --> 00:51:26.288
learning and like we built our own model like we built crazy stuff that now literally off the shelf for two grand a month i could probably get it and i should never use the tech stack at this point like it's oh no we swapped yeah we as soon as like once uh chat before came out and then gemini started getting better last year it's like we just need to swap over um yeah there's no reason to have engineers doing a phone system when there's open models that are just
925
00:51:26.868 --> 00:51:34.376
Like now off the shelf, what I built for hundreds of thousands, if not a million dollars is probably a thousand bucks a month, $2,000 a month.
926
00:51:34.436 --> 00:51:34.616
Yeah.
927
00:51:35.417 --> 00:51:36.098
You wouldn't do it again.
928
00:51:38.019 --> 00:51:38.780
That's a lot.
929
00:51:38.800 --> 00:51:39.020
Yeah.
930
00:51:39.101 --> 00:51:40.582
But I do think the people, yeah.
931
00:51:40.622 --> 00:51:43.385
Like I think the people buying it off the shelf right now, it's like it works or it doesn't.
932
00:51:43.405 --> 00:51:44.426
The customer happy or not.
933
00:51:44.446 --> 00:51:46.288
Like versus like I really have.
934
00:51:46.548 --> 00:52:14.098
been able to i i feel like i'm probably one of the best just because we had to get in with the engineers like why did that word not work why does that like what happens the latency how should the latency like the the intermediate like it's so interesting even if they knew it was ai versus if they didn't we had a better call completion rate if they didn't know it was ai and customer satisfaction was higher it was just the fact that five percent of them found out it was ai and then they felt tricked you'd lose the customer and that was like so like
935
00:52:14.800 --> 00:52:16.681
It was, yeah, lots of learnings.
936
00:52:16.961 --> 00:52:21.084
Well, all those learnings too will be valuable to you because you're doing homeworks.
937
00:52:22.105 --> 00:52:27.728
Like you'll apply them, I'm sure, in terms of how you think about rolling out to your client, how you message your client.
938
00:52:27.969 --> 00:52:32.111
So there's a lot that will come of this, not just for Augusta.
939
00:52:32.792 --> 00:52:35.714
Yeah, well, that leaves me in my second, most more recent one.
940
00:52:36.394 --> 00:52:42.578
So that's when we started Copilot CRM, which is funny because I think I talked to you like six months before we started it.
941
00:52:43.398 --> 00:52:43.899
And...
942
00:52:45.010 --> 00:52:45.971
Yeah, we scaled too fast.
943
00:52:46.111 --> 00:52:47.431
We allowed too many people in the system.
944
00:52:47.531 --> 00:52:52.974
If I could do it over again, I probably would have allowed maybe 100 to 500 people in.
945
00:52:53.954 --> 00:52:58.036
And then I probably would have done what you just said and built a separate platform using everything I learned.
946
00:52:58.516 --> 00:53:04.159
And it's funny because I've always had this debate, even with Dan, our CTO, and been like, hey, he's much more of the opinion.
947
00:53:04.179 --> 00:53:05.800
You want customers to be able to get the feedback.
948
00:53:05.820 --> 00:53:07.120
You don't want to just go build this thing.
949
00:53:07.140 --> 00:53:08.061
Oh, I think that's wise.
950
00:53:08.101 --> 00:53:08.341
Yeah.
951
00:53:09.290 --> 00:53:14.901
The challenging part is like when it was scaling so fast, getting that much, everything was kept breaking.
952
00:53:15.563 --> 00:53:17.907
At the same time, it's like, well, I need to be able to pay the bills.
953
00:53:17.927 --> 00:53:19.591
I can't like turn people away.
954
00:53:19.611 --> 00:53:20.432
Um...
955
00:53:21.713 --> 00:53:33.388
And so I don't know the fix, but I know that I let too many people in too soon, and I should have got it to a much more modern architecture with React and Next.js having the API all set up.
956
00:53:34.970 --> 00:53:36.332
But again, I don't know.
957
00:53:36.392 --> 00:53:39.717
Maybe we wouldn't be here if I would have done that and waited an extra year or something like that.
958
00:53:40.357 --> 00:53:41.558
But I scaled it too fast.
959
00:53:41.938 --> 00:53:42.878
I should have put the brakes on it.
960
00:53:42.958 --> 00:53:44.019
I could see what was happening.
961
00:53:44.039 --> 00:53:46.400
Like people were just pouring in and I let them all down.
962
00:53:46.880 --> 00:53:51.522
And so it was actually a really probably in hindsight, the most damaging thing was probably to my personal brand.
963
00:53:51.922 --> 00:53:56.544
Because now like I'm talking about things, how to help your business, they join and then I hurt their business.
964
00:53:57.104 --> 00:54:01.786
And so I'd still say like the personal brand is still recovering from that.
965
00:54:02.206 --> 00:54:02.567
Oh, really?
966
00:54:03.087 --> 00:54:03.607
You feel that?
967
00:54:04.498 --> 00:54:05.418
Yeah, because it was so bad.
968
00:54:05.458 --> 00:54:13.201
Like back in 2023, like, you know, with stuff hitting Stripe API or text and emails going out unhindered, like we didn't have any sort of security.
969
00:54:13.221 --> 00:54:18.343
Like what happened this past weekend would have destroyed us back then with an actual attack happening.
970
00:54:18.904 --> 00:54:29.848
And so, you know, just eat a lot of humble pie and realize like it's going to take probably another year or two of execution to hopefully mend some of those bridges because it's bad, bad for people's businesses.
971
00:54:29.888 --> 00:54:30.508
Yeah, yeah.
972
00:54:31.809 --> 00:54:33.670
There's my two mistakes and what we learned.
973
00:54:36.192 --> 00:54:36.893
Nothing's busy.
974
00:54:37.453 --> 00:54:37.653
Yeah.
975
00:54:37.893 --> 00:54:39.594
So this one's going back to the beginning.
976
00:54:39.774 --> 00:54:43.617
If you had $500,000 in cash, okay, and you have a bunch of free time.
977
00:54:44.438 --> 00:54:44.658
All right.
978
00:54:44.678 --> 00:54:47.219
So we're not going, we don't need to do vacation so often.
979
00:54:47.740 --> 00:54:50.121
We're not interested in racing the cars.
980
00:54:50.462 --> 00:54:50.682
Okay.
981
00:54:51.042 --> 00:54:51.742
Lots of free time.
982
00:54:52.583 --> 00:54:55.305
What new business would you buy or build?
983
00:54:56.285 --> 00:55:00.228
And it can be in the trades, but you can't leverage your existing business in any way.
984
00:55:01.154 --> 00:55:04.277
And it can't be software or coaching or education in the trades.
985
00:55:04.937 --> 00:55:07.800
And the kind of kicker that we put on this was think like an investor.
986
00:55:08.381 --> 00:55:11.764
So $500,000 in cash, JP, what would you be doing now?
987
00:55:12.684 --> 00:55:12.945
Pets.
988
00:55:13.985 --> 00:55:14.366
Pets?
989
00:55:15.467 --> 00:55:16.608
Oh, I did not see that coming.
990
00:55:16.708 --> 00:55:17.068
Okay.
991
00:55:17.308 --> 00:55:18.750
I've been thinking about this for a while.
992
00:55:19.250 --> 00:55:21.232
And I think that, you know, if you were to- Wait, do you have a pet?
993
00:55:21.800 --> 00:55:23.142
I have two dogs, two bulldogs.
994
00:55:23.222 --> 00:55:23.843
Okay, okay.
995
00:55:23.903 --> 00:55:25.805
I was going to say, I didn't see any pets at your house.
996
00:55:25.865 --> 00:55:26.166
Yeah.
997
00:55:26.506 --> 00:55:28.889
I got a French bulldog and an English bulldog.
998
00:55:29.310 --> 00:55:29.590
Okay.
999
00:55:29.650 --> 00:55:34.236
And so, and it's not really something that I've thought about long term.
1000
00:55:35.763 --> 00:55:37.684
And I like my, I like dogs.
1001
00:55:37.704 --> 00:55:40.006
I like animals, but I like my dogs specifically.
1002
00:55:40.026 --> 00:55:41.487
You know, it's like, don't.
1003
00:55:41.527 --> 00:55:51.654
And so it's not like it's this big passion around pets, but, and if I were to like really get ready to deploy the capital and say, okay, what am I doing for the next decade?
1004
00:55:52.254 --> 00:55:53.075
Would I really do this?
1005
00:55:53.235 --> 00:55:56.377
I don't know, but I will tell you, I have thought about this quite a bit.
1006
00:55:56.617 --> 00:55:59.700
I really liked the pet trade because I,
1007
00:56:00.520 --> 00:56:01.860
Man, people will spend.
1008
00:56:02.000 --> 00:56:03.681
I actually...
1009
00:56:04.221 --> 00:56:11.662
So when this video comes out one day earlier, this actually wasn't time, one day earlier, I have a pet-related video coming out.
1010
00:56:12.322 --> 00:56:13.042
Really?
1011
00:56:13.242 --> 00:56:13.802
Oh, let's go.
1012
00:56:13.822 --> 00:56:15.423
But it's not the same as...
1013
00:56:15.683 --> 00:56:17.523
It has nothing to do with what I'm about to say.
1014
00:56:17.543 --> 00:56:18.263
Okay, okay.
1015
00:56:18.283 --> 00:56:18.723
Yeah, yeah.
1016
00:56:18.903 --> 00:56:21.784
So, but it proves my...
1017
00:56:22.004 --> 00:56:23.884
It's just a complete coincidence.
1018
00:56:24.044 --> 00:56:25.944
And so it just...
1019
00:56:26.024 --> 00:56:26.804
It makes my point.
1020
00:56:26.904 --> 00:56:29.545
My belief is that people...
1021
00:56:30.478 --> 00:56:33.299
will spend more money on their animals than they will.
1022
00:56:33.399 --> 00:56:36.479
Like they'll do stuff for their animals that they won't do for themselves.
1023
00:56:36.939 --> 00:56:37.599
Yeah.
1024
00:56:37.800 --> 00:56:40.760
And maybe some people even love their animals more than their family.
1025
00:56:40.820 --> 00:56:47.422
Like the animal is a big deal in a lot of – and so it's kind of like plumbing to me for a lot of people.
1026
00:56:47.542 --> 00:56:49.282
If your plumbing system breaks, you're fixing it.
1027
00:56:49.322 --> 00:56:51.062
If something happens with your animals, you're paying up.
1028
00:56:51.422 --> 00:56:53.763
So when I talk about the pet trade –
1029
00:56:54.583 --> 00:56:57.385
I'm not talking about e-commerce or retail.
1030
00:56:57.485 --> 00:56:59.647
I'm talking about the veterinarian side.
1031
00:57:00.147 --> 00:57:01.768
I'm talking about dog grooming.
1032
00:57:02.169 --> 00:57:05.331
I'm talking about insurance on your pets.
1033
00:57:05.911 --> 00:57:07.953
Maybe training, definitely boarding.
1034
00:57:08.313 --> 00:57:09.634
I really like those.
1035
00:57:10.454 --> 00:57:13.377
So I would, and I think I would test my...
1036
00:57:14.217 --> 00:57:19.578
micro brand concept where if I was doing this, I'd have a different brand for vet, grooming, boarding.
1037
00:57:19.778 --> 00:57:20.178
I don't know.
1038
00:57:20.198 --> 00:57:25.199
Maybe, maybe, maybe not for all of those, not, maybe not three separate ones there, but maybe two.
1039
00:57:25.779 --> 00:57:29.000
And then I would be cross selling across the micro brand across the brands.
1040
00:57:29.540 --> 00:57:34.201
But when pets, when pet smarts going bankrupt, we'll make sure we line you up for some secondary.
1041
00:57:35.201 --> 00:57:35.481
Yeah.
1042
00:57:35.541 --> 00:57:35.781
Yeah.
1043
00:57:36.341 --> 00:57:37.461
So, yeah.
1044
00:57:37.481 --> 00:57:41.062
So I, I really think there's a lot of opportunity there and I think there's good margin.
1045
00:57:42.034 --> 00:57:42.314
Okay.
1046
00:57:42.574 --> 00:57:42.854
All right.
1047
00:57:42.934 --> 00:57:46.435
Well, I didn't go that creative because you said that we could be inside the trades.
1048
00:57:46.475 --> 00:57:49.215
I was like, look, I'm only good at a few things here.
1049
00:57:49.255 --> 00:57:49.796
It's a trade.
1050
00:57:50.096 --> 00:57:50.916
I think it's a trade.
1051
00:57:51.376 --> 00:57:51.936
Okay.
1052
00:57:52.016 --> 00:57:52.496
Oh, yeah.
1053
00:57:52.536 --> 00:57:52.996
Boarding.
1054
00:57:53.236 --> 00:57:53.496
Yeah.
1055
00:57:53.636 --> 00:57:54.516
Okay.
1056
00:57:54.857 --> 00:57:57.217
We have a dog groomer comes to our house every week.
1057
00:57:57.497 --> 00:57:58.177
We have forever.
1058
00:57:58.937 --> 00:58:00.178
And she takes care.
1059
00:58:00.198 --> 00:58:00.838
No, not every week.
1060
00:58:00.998 --> 00:58:01.458
Once a month.
1061
00:58:01.998 --> 00:58:03.098
She takes care of our dogs.
1062
00:58:03.938 --> 00:58:05.999
And I think we pay her like 280.
1063
00:58:06.119 --> 00:58:06.419
I don't know.
1064
00:58:06.439 --> 00:58:06.759
We pay her.
1065
00:58:07.820 --> 00:58:09.041
And I don't know.
1066
00:58:09.081 --> 00:58:10.982
She's not there that long.
1067
00:58:11.243 --> 00:58:13.845
She's making $140 an hour.
1068
00:58:13.865 --> 00:58:15.146
The vet part is like that.
1069
00:58:15.186 --> 00:58:15.887
That would be a lot.
1070
00:58:16.467 --> 00:58:18.809
You know, you got to get veterinarians involved.
1071
00:58:19.049 --> 00:58:20.471
That'd be a big operation.
1072
00:58:20.791 --> 00:58:21.872
Yeah, yeah, yeah.
1073
00:58:21.932 --> 00:58:22.412
$500,000.
1074
00:58:22.432 --> 00:58:23.834
What are you starting with, though?
1075
00:58:24.154 --> 00:58:28.458
I'll start with a smaller pet grooming or something like that, and I'll build into this thing.
1076
00:58:29.298 --> 00:58:30.960
My brain always thinks bigger.
1077
00:58:31.000 --> 00:58:33.042
So I'll just start, get my...
1078
00:58:33.502 --> 00:58:36.324
beachhead and then I'm going to build my thing with all these.
1079
00:58:36.344 --> 00:58:36.544
Got it.
1080
00:58:36.624 --> 00:58:37.164
That's what I meant.
1081
00:58:37.184 --> 00:58:37.324
Yeah.
1082
00:58:37.564 --> 00:58:42.787
You can't get in the vet business for 500 unless you, but I actually think you, I think you could pull it off.
1083
00:58:42.867 --> 00:58:49.451
If you had the knowledge, I think you could find small, like one, like really small vet and you could partner with them and take an equity stake.
1084
00:58:49.851 --> 00:58:57.556
Like, I think there are ways even with half a million bucks, you could get into the veterinarian business, but you'd be partnering up with somebody already has a business and you'd help them grow it.
1085
00:58:58.356 --> 00:58:59.877
I think there's just tons of opportunity here.
1086
00:59:00.598 --> 00:59:00.758
Yeah.
1087
00:59:00.938 --> 00:59:01.719
I'm not a pet guy.
1088
00:59:01.819 --> 00:59:03.461
So I can't really do that one.
1089
00:59:04.642 --> 00:59:05.443
I stuck to what I know.
1090
00:59:05.463 --> 00:59:06.804
I'm not a lawn mowing guy.
1091
00:59:06.824 --> 00:59:08.766
I'm not a weed guy.
1092
00:59:08.806 --> 00:59:10.127
I don't care about those things.
1093
00:59:10.167 --> 00:59:14.131
Like I've done a lot of it, but like I like business.
1094
00:59:14.171 --> 00:59:17.634
Like all of our friends, they ask me questions about lawn care.
1095
00:59:17.654 --> 00:59:19.096
It's like, I don't know.
1096
00:59:19.556 --> 00:59:20.377
I just own the business.
1097
00:59:20.397 --> 00:59:20.557
Yeah.
1098
00:59:21.856 --> 00:59:22.296
100%.
1099
00:59:23.077 --> 00:59:24.917
Okay, so mine's not as creative then.
1100
00:59:25.097 --> 00:59:28.419
Mine is I would start a location from scratch.
1101
00:59:28.799 --> 00:59:29.279
Okay.
1102
00:59:29.519 --> 00:59:30.979
Just a lawn care business, sorry.
1103
00:59:31.640 --> 00:59:32.000
That's great.
1104
00:59:32.080 --> 00:59:34.841
And I would try to scale it to a million dollars because I only have 500 grand.
1105
00:59:34.861 --> 00:59:37.182
So I'd try to scale it to a million in one year.
1106
00:59:37.202 --> 00:59:37.842
Yeah.
1107
00:59:37.882 --> 00:59:40.523
I'd just document the entire process, kind of like a daily vlog.
1108
00:59:41.143 --> 00:59:48.446
Basically, I did kind of this version, and I did 30 days, but I only got it to like the first 30, 40 customers and like booked out six weeks.
1109
00:59:48.566 --> 00:59:49.667
It was just like getting it off the ground.
1110
00:59:49.707 --> 00:59:50.727
It was like door hangers,
1111
00:59:51.857 --> 01:00:01.044
and doing a lot of boots on the ground marketing, I would run this more like an investor, scale it quickly and do it in six to 12 months.
1112
01:00:01.585 --> 01:00:08.290
And I would do it, the vlogs, I could build my personal brand back because that's the part that I really want for the longterm.
1113
01:00:09.210 --> 01:00:09.831
So I love that.
1114
01:00:10.852 --> 01:00:11.972
So the goal's a million.
1115
01:00:13.413 --> 01:00:15.755
I'm just a little curious on this one.
1116
01:00:15.775 --> 01:00:19.158
So how much would you think you'd need to spend to hit a million in a year?
1117
01:00:20.963 --> 01:00:25.144
I think under $300,000.
1118
01:00:26.724 --> 01:00:28.265
Assuming I bought stuff with cash.
1119
01:00:28.305 --> 01:00:33.986
In terms of getting it kicked off, because I'd just reinvest all the dollars back in.
1120
01:00:34.987 --> 01:00:39.608
Assuming I would buy cash, I'd just start with two trucks and then just fill them as fast as possible.
1121
01:00:39.628 --> 01:00:40.888
I'd be spending a lot on marketing.
1122
01:00:41.108 --> 01:00:42.769
I'd probably spend $100,000 on marketing.
1123
01:00:43.049 --> 01:00:44.489
And you can't use Augusta, right?
1124
01:00:44.529 --> 01:00:45.389
That was the whole idea.
1125
01:00:45.429 --> 01:00:46.229
We had to do something different.
1126
01:00:46.249 --> 01:00:48.430
So you're using a brand new name, brand new everything.
1127
01:00:48.450 --> 01:00:48.550
Yeah.
1128
01:00:49.377 --> 01:00:50.519
Yeah, something, anything.
1129
01:00:51.681 --> 01:00:58.892
Who is your first, outside of a team member doing the work, who's your first hires other than the team members?
1130
01:00:59.357 --> 01:01:03.279
Oh, the top, the very top person, the person that's going to do the, yeah, a hundred percent.
1131
01:01:03.339 --> 01:01:03.579
Yeah.
1132
01:01:04.019 --> 01:01:04.640
Overpay.
1133
01:01:04.920 --> 01:01:05.100
Yeah.
1134
01:01:05.300 --> 01:01:11.643
Uh, I'd be looking for someone with 20 plus years experience, six figures, and they would hire the team.
1135
01:01:11.863 --> 01:01:24.109
They would get all the equipment and I would have to like, I would probably feel like a restraint for the vlog sake of like, I can only work so many hours per week on the business and to show that like, Hey, this is a business.
1136
01:01:24.129 --> 01:01:25.690
This is not me going out and mowing the grass.
1137
01:01:26.358 --> 01:01:27.559
That's cool.
1138
01:01:28.359 --> 01:01:29.980
And what are you doing exactly?
1139
01:01:30.160 --> 01:01:31.040
Are you doing the sales?
1140
01:01:31.941 --> 01:01:32.541
Just sales.
1141
01:01:32.561 --> 01:01:32.741
Yep.
1142
01:01:32.801 --> 01:01:33.041
Okay.
1143
01:01:33.161 --> 01:01:37.063
So even though you're an investor, you're still doing some of the work.
1144
01:01:37.083 --> 01:01:38.864
You're not outsourcing every single thing.
1145
01:01:39.344 --> 01:01:39.544
Yep.
1146
01:01:39.604 --> 01:01:40.085
That'd be the goal.
1147
01:01:40.525 --> 01:01:40.745
Okay.
1148
01:01:40.765 --> 01:01:46.728
Because the goal would be to build like a big channel or like some sort of following that I could dump into something down the road.
1149
01:01:48.269 --> 01:01:49.589
Would this be a new brand?
1150
01:01:50.690 --> 01:01:50.930
Yes.
1151
01:01:51.410 --> 01:01:52.931
You're not going to use one of your existing channels.
1152
01:01:52.951 --> 01:01:53.851
You're going to start a new channel?
1153
01:01:54.451 --> 01:01:54.912
Exactly.
1154
01:01:54.932 --> 01:01:55.212
Right.
1155
01:01:55.232 --> 01:01:55.392
Right.
1156
01:01:56.490 --> 01:01:57.350
That's cool.
1157
01:01:57.510 --> 01:02:03.375
Just because the attention, even with 5 for 50, you might not necessarily know what you're going to do with that attention on the road.
1158
01:02:03.696 --> 01:02:10.782
But having the audience to be able to deploy that attention towards something, even if it's philanthropic.
1159
01:02:11.162 --> 01:02:12.303
Yeah, I like that.
1160
01:02:12.443 --> 01:02:12.924
I like that a lot.
1161
01:02:12.944 --> 01:02:13.644
It'd be kind of interesting.
1162
01:02:14.245 --> 01:02:14.405
Yeah.
1163
01:02:14.545 --> 01:02:14.705
Okay.
1164
01:02:14.725 --> 01:02:14.985
All right.
1165
01:02:15.246 --> 01:02:16.607
We got a couple more questions on the docket.
1166
01:02:17.067 --> 01:02:17.668
Next one is,
1167
01:02:18.385 --> 01:02:26.530
Trillions in wealth transfers coming, demographic risks, and how this will change customer type, how they buy, what they care about.
1168
01:02:26.970 --> 01:02:28.151
So this is the baby boomers.
1169
01:02:28.171 --> 01:02:28.831
They're getting older.
1170
01:02:28.871 --> 01:02:32.914
They are handing this money down to their family, their kids.
1171
01:02:33.374 --> 01:02:34.395
And so what happens?
1172
01:02:35.035 --> 01:02:35.756
How do they buy?
1173
01:02:36.336 --> 01:02:41.179
Does this change who we're actually even going after with marketing as this begins to happen, the wealth transfer?
1174
01:02:41.199 --> 01:02:41.299
Yeah.
1175
01:02:41.944 --> 01:02:46.066
I don't know if we'll notice that we're going after somebody different per se.
1176
01:02:47.607 --> 01:02:50.208
Because I think it'll just happen over time.
1177
01:02:50.248 --> 01:02:51.729
I don't know if you'll notice this big thing.
1178
01:02:52.409 --> 01:02:57.431
The bet I would make on this one is that the trades aren't about to diminish in any way.
1179
01:02:57.552 --> 01:03:01.694
These younger people have grown up not doing any of this stuff.
1180
01:03:02.114 --> 01:03:02.974
I just don't.
1181
01:03:03.314 --> 01:03:05.695
They're not about to start buying lawnmowers.
1182
01:03:06.816 --> 01:03:10.498
And I think they're more likely to pay for services than even...
1183
01:03:11.438 --> 01:03:13.019
you know, a typical person today.
1184
01:03:13.119 --> 01:03:16.542
So I think it continues to be a positive trend for the trades.
1185
01:03:18.204 --> 01:03:26.090
In my mind, the only thing that's going to kill or hurt the trades is utter financial disaster where people just don't have money.
1186
01:03:26.431 --> 01:03:29.814
And we're in a disastrous place as a society.
1187
01:03:30.474 --> 01:03:39.442
Otherwise, as long as we can still accumulate debt and spend money and do all the crazy stuff we already do as a country, I think trades hold up really well and get stronger.
1188
01:03:41.674 --> 01:03:53.700
I think there will probably, I don't see anything changing in the way, my bet would be that you still have a lot of affluence and you have a lot of people that just don't have a lot of, there's still a big divide.
1189
01:03:54.881 --> 01:03:55.481
And so.
1190
01:03:57.257 --> 01:04:04.702
You know, as they call that the K-shaped economy, I think that holds and that's exactly how it continues to play out.
1191
01:04:04.742 --> 01:04:06.364
And it might get worse, frankly.
1192
01:04:06.504 --> 01:04:08.986
I don't know how we're going to right that ship unless we have socialism.
1193
01:04:09.346 --> 01:04:10.106
Not saying we should.
1194
01:04:10.427 --> 01:04:11.728
That's not what I mean by right that ship.
1195
01:04:11.988 --> 01:04:14.269
But, you know, I just don't see that changing otherwise.
1196
01:04:15.330 --> 01:04:18.691
I think that obviously it's back to what we talk about a lot here.
1197
01:04:18.771 --> 01:04:20.051
The, the bed is tech.
1198
01:04:20.071 --> 01:04:21.492
Like this is my argument.
1199
01:04:21.512 --> 01:04:22.412
The future is tech.
1200
01:04:22.732 --> 01:04:29.274
You need more tech in your business, but also the way you interact with the client, this client is going to buy through tech.
1201
01:04:29.314 --> 01:04:32.055
This client's going to buy a message and communicate in different ways.
1202
01:04:32.935 --> 01:04:35.896
They're going to be more willing to talk to AI on the phone.
1203
01:04:36.056 --> 01:04:37.116
Like all they're going to.
1204
01:04:37.136 --> 01:04:40.277
So that's going to be one of the back to my argument.
1205
01:04:40.317 --> 01:04:43.378
As I said, like if you're not embracing this stuff, you're,
1206
01:04:43.578 --> 01:04:50.499
at some point you're even alienating the future buyer because they grew up on Snapchat and they grew up using Snapchat to message.
1207
01:04:50.539 --> 01:04:52.340
They may not even grown up texting.
1208
01:04:52.440 --> 01:04:54.000
They were using Snapchat as an example.
1209
01:04:54.020 --> 01:04:56.640
Like they, they grew up getting their information off YouTube.
1210
01:04:57.060 --> 01:04:59.041
Like they watch TV on YouTube.
1211
01:04:59.181 --> 01:05:01.841
Like those behaviors I think will persist.
1212
01:05:02.341 --> 01:05:07.742
And those behaviors will then impact the channels that we use to market to them and how we talk to them, how we sell them.
1213
01:05:07.982 --> 01:05:09.722
The instant pricing, a hundred percent.
1214
01:05:09.742 --> 01:05:10.383
That's the trend.
1215
01:05:10.423 --> 01:05:11.583
Like that's how they're going to want to buy.
1216
01:05:11.603 --> 01:05:12.483
They don't want to talk to anybody.
1217
01:05:12.503 --> 01:05:12.663
That's,
1218
01:05:12.923 --> 01:05:15.144
I don't see any of that changing.
1219
01:05:16.265 --> 01:05:22.968
The research differently, I kind of gave the example, not that it'll be YouTube, it might be a little YouTube, but they're going to research and get the answers differently.
1220
01:05:23.309 --> 01:05:28.131
I think it's going to be AI models and still model stuff like YouTube.
1221
01:05:29.492 --> 01:05:29.892
What else?
1222
01:05:30.933 --> 01:05:38.277
To me, it's all tech because this is not quite the same thing, but when I think about where you allocate capital just from an investing standpoint,
1223
01:05:39.451 --> 01:05:47.194
I think that they're going to be more open to, and I'll just use this as an example, like the future is more investing in collectibles.
1224
01:05:48.755 --> 01:05:50.955
Again, doesn't apply to our business, but it's going to make a point.
1225
01:05:51.015 --> 01:05:55.857
More investing in crypto, more gambling, more gambling on the markets.
1226
01:05:56.477 --> 01:05:58.498
That's like what they're doing now.
1227
01:05:58.638 --> 01:06:00.499
So I suspect that's going to continue.
1228
01:06:01.019 --> 01:06:02.220
And it's just all tech.
1229
01:06:02.320 --> 01:06:03.460
It's all tech related.
1230
01:06:03.480 --> 01:06:05.441
They're buying more crypto than they're buying gold.
1231
01:06:06.700 --> 01:06:10.221
So that kind of a shift just – so that's probably my single biggest bet.
1232
01:06:10.241 --> 01:06:13.802
It's all around everything you can – everything tech-related.
1233
01:06:15.242 --> 01:06:19.483
When we see CityTurf accepting Bitcoin, then we'll know you really made the turn.
1234
01:06:19.683 --> 01:06:20.923
Yeah.
1235
01:06:21.164 --> 01:06:23.044
Yeah, I agree.
1236
01:06:23.104 --> 01:06:25.465
I think it's just more of what's already happening.
1237
01:06:26.045 --> 01:06:29.145
I think that time will become more and more valuable.
1238
01:06:29.305 --> 01:06:29.726
It's funny.
1239
01:06:29.906 --> 01:06:31.046
You mentioned socialism.
1240
01:06:31.326 --> 01:06:35.487
Sam Altman came out the other day saying that the way to solve everything was to tax the robots.
1241
01:06:35.507 --> 01:06:35.707
Right?
1242
01:06:36.337 --> 01:06:38.498
So if you have a robot, you got to pay more taxes.
1243
01:06:39.138 --> 01:06:40.078
Okay.
1244
01:06:40.179 --> 01:06:40.559
Crazy.
1245
01:06:40.639 --> 01:06:42.119
Some of the stuff that comes out of his mouth.
1246
01:06:42.239 --> 01:06:43.000
And all these guys.
1247
01:06:43.020 --> 01:06:43.340
All of them.
1248
01:06:43.400 --> 01:06:43.960
It's crazy.
1249
01:06:44.240 --> 01:06:44.760
Insane.
1250
01:06:45.461 --> 01:06:45.921
Oh, man.
1251
01:06:46.221 --> 01:06:46.621
We'll see.
1252
01:06:47.281 --> 01:06:47.661
Yeah.
1253
01:06:48.342 --> 01:06:52.643
I think people will have this generation that's coming up having these AI tools.
1254
01:06:53.684 --> 01:06:55.164
They'll trust what it says more.
1255
01:06:55.644 --> 01:06:55.825
Yeah.
1256
01:06:56.725 --> 01:06:56.965
And –
1257
01:06:57.654 --> 01:07:01.576
There won't be as much of this thought process I should push against it because it's new.
1258
01:07:01.916 --> 01:07:03.197
It's part of their life.
1259
01:07:03.537 --> 01:07:04.318
They grew up with it.
1260
01:07:04.518 --> 01:07:07.920
It answered all their questions in high school, and they're ready to adopt it.
1261
01:07:08.320 --> 01:07:21.147
And it leans into what we talked about last week in terms of the importance of brand so that when the LLM says, use this company, and they will just do it, and they're more likely to let their agent just go check out, that you're showing up there.
1262
01:07:21.855 --> 01:07:37.448
And so I think the trust in the AI and the ability to let it handle payments, handle tasks around their house, that's, that's going to be the trend that I think if you're again, we got, we'll get beat up over this from last week's, but it was like, the ship has sailed and you got to get on it.
1263
01:07:38.389 --> 01:07:45.936
And any ideological thing that keeps you from adopting this technology is going to hurt you in the future.
1264
01:07:46.696 --> 01:07:47.237
And, um,
1265
01:07:48.120 --> 01:07:48.260
Yeah.
1266
01:07:48.761 --> 01:07:51.303
And as they have the money, they make the decision purchasing.
1267
01:07:51.343 --> 01:07:54.426
It's just going to solidify what they trust and they trust the AI.
1268
01:07:54.446 --> 01:07:58.330
Like what we talked about last week around business advice and like questioning it.
1269
01:07:59.231 --> 01:08:00.012
They just trust it.
1270
01:08:00.032 --> 01:08:05.317
Like I've seen younger people use AI and they just go down this trail with it of like never questioning.
1271
01:08:05.337 --> 01:08:06.979
It's just like we just accept what it's saying.
1272
01:08:06.999 --> 01:08:10.302
And you can say all the negative things about that in the world, but it's just going to keep happening.
1273
01:08:11.185 --> 01:08:12.987
if you bet against it, you're just going to lose.
1274
01:08:13.528 --> 01:08:15.470
I just, I don't know.
1275
01:08:15.490 --> 01:08:16.151
It seems so.
1276
01:08:17.292 --> 01:08:18.654
It doesn't even seem.
1277
01:08:19.715 --> 01:08:23.519
Controversial to me because it seems so obvious that this is what's going to happen.
1278
01:08:24.000 --> 01:08:26.082
And as you said, I mean, we're never, we're not going back.
1279
01:08:27.112 --> 01:08:33.956
It's like, was it last week we showed the chart of the 10 companies back from 2010 to where we are to now?
1280
01:08:33.996 --> 01:08:36.758
I mean, just like every trend is pointing to more of this stuff.
1281
01:08:36.798 --> 01:08:41.961
So I don't think there's, it's not like there's some big, like, how do you action this?
1282
01:08:42.021 --> 01:08:44.962
It's not as though today there's like some big change you need to make.
1283
01:08:45.323 --> 01:08:47.144
You need to just be constantly iterating.
1284
01:08:47.344 --> 01:08:48.965
Like, okay, you've got a website.
1285
01:08:49.065 --> 01:08:54.308
What are we doing now around instant pricing, putting your pricing online, like the stuff you've talked about, Mike?
1286
01:08:54.728 --> 01:08:57.532
around starting to think about how do I get found?
1287
01:08:58.253 --> 01:09:10.330
You could look up AEO and GEO as acronyms for what stuff you do to your website so that you get found mentioned in the LLMs like,
1288
01:09:10.510 --> 01:09:12.210
So that's a process of iteration.
1289
01:09:12.250 --> 01:09:14.431
It's not a process of tomorrow we wake up and change everything.
1290
01:09:14.451 --> 01:09:15.651
I said this before too.
1291
01:09:16.011 --> 01:09:17.252
It's that you just start iterating.
1292
01:09:17.672 --> 01:09:22.593
As you started thinking about adopting more technology in your business to run your business, that's iteration.
1293
01:09:22.633 --> 01:09:24.853
As you start to think about, well, how do I message with my clients?
1294
01:09:24.893 --> 01:09:26.193
Okay, we haven't been doing texting.
1295
01:09:26.474 --> 01:09:27.534
I need to bring texting in.
1296
01:09:27.694 --> 01:09:31.735
Oh, we haven't been responding to Facebook messaging because I don't want to watch four channels.
1297
01:09:31.915 --> 01:09:32.635
Oh, I need to.
1298
01:09:33.255 --> 01:09:37.416
It's just this iteration thing that starts now versus this dramatic process.
1299
01:09:38.016 --> 01:09:39.237
change that has to happen now.
1300
01:09:39.257 --> 01:09:44.680
And so if you're iterating, it's not, in my mind, it's not going to be terribly painful.
1301
01:09:45.320 --> 01:09:51.663
It's, uh, but if you wait and you ignore it and you hope it's going to go away, that's where it's going to be really painful.
1302
01:09:53.184 --> 01:09:53.464
I agree.
1303
01:09:53.985 --> 01:09:54.225
All right.
1304
01:09:54.245 --> 01:09:56.266
Well, we're going to close out today with the prediction.
1305
01:09:56.626 --> 01:09:56.886
All right.
1306
01:09:57.367 --> 01:10:03.590
So we're going to talk specifically about home services and what is it going to look like in 2035?
1307
01:10:03.750 --> 01:10:07.192
So about nine, 10 years from now, what lasts, what changes,
1308
01:10:07.983 --> 01:10:12.246
And can a few companies dominate specific trades like Amazon does with e-commerce?
1309
01:10:12.846 --> 01:10:16.369
So if you look at e-commerce, a huge chunk of it, Amazon gets the revenue.
1310
01:10:16.809 --> 01:10:18.650
Is that going to happen in home services?
1311
01:10:18.670 --> 01:10:24.594
Or are we going to stay much more like it is now, which is very segmented, fragmented?
1312
01:10:24.894 --> 01:10:27.256
There's hundreds of thousands of players.
1313
01:10:27.336 --> 01:10:31.018
Very few of them control more than 1% in home services.
1314
01:10:31.538 --> 01:10:33.299
Where do you see that going in 2035?
1315
01:10:34.900 --> 01:10:39.264
Yeah, so I made a list of some different ones, and I know you've probably got some as well.
1316
01:10:39.284 --> 01:10:44.328
So maybe this one would be kind of interesting to, for me at least, it'd be interesting to ping pong on this one.
1317
01:10:44.348 --> 01:10:47.270
So I'll give my opinion, but I'd be curious your reaction to the opinion.
1318
01:10:47.811 --> 01:10:49.492
We might end up with some of the same ones.
1319
01:10:49.692 --> 01:11:01.022
So starting with this question specifically, I remember years ago on stage at Surface Autopilot, when I was talking about this idea that robotic mowers are coming, in that world,
1320
01:11:01.662 --> 01:11:10.373
robotic mowers, I do see a small number of incredibly capitalized businesses dominating very significantly.
1321
01:11:11.167 --> 01:11:17.311
So maybe it's not like Amazon-level domination, but it's that directionally, it's that kind of a concept.
1322
01:11:17.331 --> 01:11:29.578
And my argument was that when we change from OPEX, which means you're just the expenses on your P&L, to CAPEX, which are the investments you make, the capital investments.
1323
01:11:29.998 --> 01:11:32.840
So when we move from I'm paying...
1324
01:11:33.640 --> 01:11:45.424
3000 individuals to perform a service like mow a lawn, clean a house, kill bugs versus I'm paying I'm paying the one time or periodic expense to acquire 3000 robots.
1325
01:11:46.165 --> 01:11:50.586
The people with all the money win because they can go get all the robots.
1326
01:11:50.646 --> 01:11:51.467
And you and I.
1327
01:11:52.647 --> 01:11:53.928
We can't get 3000 robots.
1328
01:11:55.444 --> 01:11:56.105
theoretically.
1329
01:11:56.625 --> 01:11:59.168
And I don't believe we can because I'll give my example.
1330
01:11:59.208 --> 01:12:09.360
I was involved in the robotic mower space for a while and my, and I was looking at making up very, very multi big multi millions of dollars investment to get into that space.
1331
01:12:10.502 --> 01:12:11.263
And, um,
1332
01:12:12.989 --> 01:12:22.515
There were several reasons, but one of the single biggest reasons I decided not to bet on it was I don't believe that the typical owner can get the credit to finance the robots.
1333
01:12:23.136 --> 01:12:24.797
So they can't ever build a meaningful business.
1334
01:12:25.537 --> 01:12:33.123
And that favors the private equity guys in the Amazons of the world, like the people that can go get the debt for $3,000, $5,000, $10,000 robots.
1335
01:12:34.964 --> 01:12:39.770
And so that CapEx concept where who has the money takes market share.
1336
01:12:40.250 --> 01:12:47.919
And it's also easier to manage hypothetically robots than it's going to be to manage 3,000, 10,000, 20,000 human beings in trucks.
1337
01:12:48.240 --> 01:12:49.682
And so that...
1338
01:12:50.562 --> 01:12:52.683
that favors, again, the big company.
1339
01:12:52.723 --> 01:13:00.308
So when we move to a world that is truly robots, I think there will be lots of big companies and little guys will get killed.
1340
01:13:01.368 --> 01:13:02.989
I may be wrong, but that's what I think.
1341
01:13:03.229 --> 01:13:11.534
Like we love the vision that Elon's gonna lease us all a robot for $300 a month and we're all gonna buy a robot and he's gonna be walking behind our mower.
1342
01:13:11.594 --> 01:13:12.495
I just don't buy it.
1343
01:13:13.375 --> 01:13:18.840
It doesn't make it doesn't make any sense to me, like maybe, but especially the timelines make no sense to me.
1344
01:13:18.860 --> 01:13:28.349
So that so now to be real specific on 2035, I am massively short, I will short, I will put 5 million is too much.
1345
01:13:29.990 --> 01:13:32.573
I want to put a real, I want to put a real number to it.
1346
01:13:32.593 --> 01:13:33.514
Like make my point.
1347
01:13:33.915 --> 01:13:38.199
This is the part where the editors clip this one part and put it at the very beginning of the episode.
1348
01:13:39.260 --> 01:13:43.385
I'm only willing to go with $1 million, but I want to go 5 million.
1349
01:13:43.405 --> 01:13:45.347
Cause I feel more, but,
1350
01:13:45.767 --> 01:13:54.556
I just don't believe in 2035 we are going to have a robot mowing lawns, like a humanoid, and I do not believe they're going to be cleaning our house.
1351
01:13:55.477 --> 01:13:57.059
I really want to make that bet.
1352
01:13:57.239 --> 01:13:57.880
I don't believe it.
1353
01:13:58.260 --> 01:14:01.123
So I'm very short that for a whole lot of reasons.
1354
01:14:01.904 --> 01:14:04.306
But I do 100% believe it's coming someday.
1355
01:14:04.326 --> 01:14:04.666
The other...
1356
01:14:05.287 --> 01:14:10.689
The other bet, the thing that doesn't make sense to me completely is why would we even need a humanoid robot to mow?
1357
01:14:11.049 --> 01:14:21.214
I still think we can do an in-between version of a robot that is mower-based but better than just the little robo-mower.
1358
01:14:21.254 --> 01:14:25.395
So I think why would – I also don't buy that it's all going to be humanoid robots.
1359
01:14:25.435 --> 01:14:26.416
I think we're going to have –
1360
01:14:27.890 --> 01:14:35.754
I think we're going to prove robotics with humanoids, but I think that, and you see this in manufacturing industrial, it's not really going to be human.
1361
01:14:35.774 --> 01:14:37.415
It's going to be purpose-built robots.
1362
01:14:38.056 --> 01:14:44.999
And so when we think about the trades, I just don't, I just, I'm just not sold.
1363
01:14:45.500 --> 01:14:49.402
And so I think the day that there are Amazon-type companies dominating is a long ways away.
1364
01:14:49.702 --> 01:14:52.804
Whatever, I don't know how long that is, but I don't believe it's 2035.
1365
01:14:54.044 --> 01:14:54.925
Where would you fall on this?
1366
01:14:55.678 --> 01:14:58.080
Yeah, so I agree with one part of you, disagree with another.
1367
01:14:58.140 --> 01:15:00.762
So I agree it's going to become a financing game.
1368
01:15:01.502 --> 01:15:08.047
And this is the whole reason why I'm trying to scale Augusta is that when the technology is there, I can step in with the financing for them.
1369
01:15:09.448 --> 01:15:10.809
And that's why we would do the IPO.
1370
01:15:11.390 --> 01:15:18.094
And then the second thing, as I agree on that point, the part I disagree with somewhat is that the little guy gets squeezed out.
1371
01:15:18.295 --> 01:15:20.196
I kind of feel like it's going to be the middle operator.
1372
01:15:20.772 --> 01:15:27.578
Because the person that's just working solo that does $100,000 a year, I feel like there'll always be a place because it's such a low barrier of entry.
1373
01:15:27.898 --> 01:15:35.565
And if they got displaced from their other job for whatever reason, they can go to something like a cleaning, a mowing service, et cetera.
1374
01:15:35.785 --> 01:15:38.007
And there'll just always be a ton of trucking of trucks.
1375
01:15:38.187 --> 01:15:42.331
But the middle part, like that $200,000 to $3 million business gets squeezed.
1376
01:15:42.671 --> 01:15:44.653
That's sort of my prediction on that one.
1377
01:15:45.743 --> 01:15:50.426
So my prediction by 2035 is that the middle gets squeezed.
1378
01:15:50.606 --> 01:15:52.647
I have that on my list here somewhere.
1379
01:15:54.208 --> 01:15:56.590
But not when the robots happen.
1380
01:15:56.870 --> 01:15:58.391
So I want to talk to you.
1381
01:15:58.411 --> 01:15:59.312
So this is really interesting.
1382
01:15:59.372 --> 01:16:02.934
Why does the little guy hold up when robots are released?
1383
01:16:03.174 --> 01:16:04.115
Like what's happening?
1384
01:16:05.055 --> 01:16:13.801
Is it because he can go get himself or herself two robots and the homeowner still wants to deal with a person, not Amazon?
1385
01:16:13.821 --> 01:16:13.921
Yeah.
1386
01:16:14.485 --> 01:16:23.876
I think in 10 years, they still – there'll still be a big chunk of people that would rather have that person, and it can be Billy down the street that has 20 customers.
1387
01:16:24.377 --> 01:16:29.462
That person I think will be just fine because there'll be plenty of customers that don't want the robot or –
1388
01:16:30.492 --> 01:16:32.393
Oh, you think they're still going to be physically.
1389
01:16:32.893 --> 01:16:33.314
Okay, hold on.
1390
01:16:33.334 --> 01:16:34.034
Rewind.
1391
01:16:34.374 --> 01:16:37.036
Do you think by 2035 we'll have a humanoid mowing a lawn?
1392
01:16:37.236 --> 01:16:38.396
Will you smell it?
1393
01:16:38.457 --> 01:16:38.777
Okay.
1394
01:16:38.877 --> 01:16:45.540
I think robots will have the technological ability, but to your point, the financing will not make sense unless it's done at scale.
1395
01:16:46.081 --> 01:16:46.321
Okay.
1396
01:16:47.438 --> 01:16:55.806
But okay, so your argument is when that technology exists in a really great form where it's as good or better than a human, you still think a lot of people just prefer a human.
1397
01:16:55.826 --> 01:16:58.828
And so the little guys will still have plenty of opportunity.
1398
01:16:59.449 --> 01:16:59.689
Correct.
1399
01:16:59.709 --> 01:17:01.391
Getting out there themselves doing the work.
1400
01:17:01.811 --> 01:17:03.813
And even undercutting the robots.
1401
01:17:03.933 --> 01:17:11.260
Because at that point, the CapEx will still be so much more the OpEx if it's a smaller operator that's buying only, say, 10, 20 robots now.
1402
01:17:12.301 --> 01:17:17.606
I still think it's going to be so expensive that they're still going to be chucking a truck that goes mow someone's lawn for $20.
1403
01:17:17.947 --> 01:17:21.190
They're okay making $200 in a day and calling it.
1404
01:17:22.031 --> 01:17:24.474
So when I did – and I wish I could remember the numbers now.
1405
01:17:24.494 --> 01:17:33.303
So when I did the math, thinking about CapEx and all that on robotic mowers for small properties –
1406
01:17:34.239 --> 01:17:43.866
I could never make the math work for small properties unless you get to a swarm concept where it's the pull up, drop them all off and swarm.
1407
01:17:43.886 --> 01:17:46.488
So it was still cheaper to use human labor.
1408
01:17:48.009 --> 01:17:53.613
Where I'm going with this is, so if your CapEx on a humanoid robot was $30,000.
1409
01:17:53.913 --> 01:17:56.155
A specialized robot.
1410
01:17:56.175 --> 01:17:56.275
Yeah.
1411
01:17:56.812 --> 01:17:57.613
Specialized robot.
1412
01:17:57.773 --> 01:17:58.914
Are you going with humanoid?
1413
01:17:59.855 --> 01:18:00.415
It doesn't matter.
1414
01:18:00.595 --> 01:18:01.316
Are they staying on?
1415
01:18:01.416 --> 01:18:03.398
This is where, so this is what I was trying to get at.
1416
01:18:03.638 --> 01:18:05.520
Are they staying on the property or are they doing multiple?
1417
01:18:05.540 --> 01:18:06.741
Because that's very different math.
1418
01:18:07.021 --> 01:18:10.965
If they're going to all the different properties, I do think that's going to be cheaper than a human doing the work.
1419
01:18:11.530 --> 01:18:16.012
Yeah, I think it's when we only have 20 or 30 customers and I'm okay with making 60, 70 grand a year.
1420
01:18:16.133 --> 01:18:19.735
I don't need the robot because that's all the customers I need to survive.
1421
01:18:19.775 --> 01:18:26.878
And I can still undercut the big company that does have all the robots, all the infrastructure, all the costs associated with their robotic fleet.
1422
01:18:27.599 --> 01:18:30.680
And so I think that the very, very small guy will still operate.
1423
01:18:30.901 --> 01:18:33.942
I don't think chucking a truck's going away anytime soon.
1424
01:18:34.062 --> 01:18:38.665
So you don't think that the company's mowing using robots will bring down pricing?
1425
01:18:38.685 --> 01:18:40.626
You think it'll stay roughly where it's at?
1426
01:18:41.078 --> 01:18:43.701
In 10 years, I think it'll stay basically where it's at.
1427
01:18:43.761 --> 01:18:46.605
It'll be a matter of, do I swap from OPEX to CAPEX?
1428
01:18:46.805 --> 01:18:49.068
So in 10 years, I am not worried about the little guy.
1429
01:18:49.949 --> 01:18:55.837
It's, I'm so, in this conversation, I'm talking when the robots are legit, like they can be everywhere.
1430
01:18:55.857 --> 01:18:56.678
Take it, got it.
1431
01:18:56.698 --> 01:18:57.318
Okay, I hear you.
1432
01:18:57.879 --> 01:18:58.940
So where do you stand on that one?
1433
01:19:01.298 --> 01:19:02.518
Because, oh, let me ask you this.
1434
01:19:02.578 --> 01:19:06.099
Like, what's your theory on what will happen with robotic taxis?
1435
01:19:06.519 --> 01:19:14.301
So if 10% of the cost is the car and we drive 90% out, which is labor, won't those rides get cheaper?
1436
01:19:14.781 --> 01:19:15.901
So that's my bet.
1437
01:19:16.381 --> 01:19:23.022
Like when there's legit robots everywhere, the CapEx is going to legitimately bring down the cost structure.
1438
01:19:23.102 --> 01:19:25.623
And therefore, the little guy can't compete anymore.
1439
01:19:26.992 --> 01:19:31.756
But not until the... Just like ride sharing, the human can't compete driving the car.
1440
01:19:32.076 --> 01:19:34.117
It would be a premium service because...
1441
01:19:34.518 --> 01:19:35.138
This is my theory.
1442
01:19:35.438 --> 01:19:38.260
It'll be a premium service because you don't want a robot driver.
1443
01:19:38.280 --> 01:19:41.203
And so you're paying five times more for your ride.
1444
01:19:41.723 --> 01:19:42.824
And you're okay with that.
1445
01:19:43.444 --> 01:19:45.706
That's what I'm wondering when there's... Yeah, like...
1446
01:19:46.346 --> 01:19:51.350
I think if you take the market dynamics like private equity or venture capital stuff being in, it would skew it.
1447
01:19:51.790 --> 01:19:52.291
However...
1448
01:19:53.751 --> 01:19:55.273
In a bigger business, I have overhead.
1449
01:19:55.613 --> 01:20:04.542
And so even if I have a great marketer, I have a mechanic, I have a command center answering calls 24-7, I have a whole lot infrastructure.
1450
01:20:04.942 --> 01:20:14.832
Even if let's say that's 20% or 30% of my costs, there's still a truck and a truck guy that can do it for the fuel and his self-driving vehicle.
1451
01:20:16.495 --> 01:20:25.159
I think it's going to be a long time before we can keep on price against that unless, to my point, venture capital steps in and is willing to lose money to wipe them all out.
1452
01:20:25.659 --> 01:20:27.159
But that cost is so low.
1453
01:20:27.179 --> 01:20:29.320
There are people that are willing to do stuff so cheap.
1454
01:20:29.660 --> 01:20:34.162
I don't even know if I could cover the overhead associated with running a business.
1455
01:20:35.588 --> 01:20:37.090
Because the prices are that low.
1456
01:20:37.350 --> 01:20:38.532
Yeah, there are so many variables here.
1457
01:20:38.552 --> 01:20:39.413
What does the world look like?
1458
01:20:39.433 --> 01:20:41.075
They may need the jobs desperately too.
1459
01:20:41.215 --> 01:20:46.121
Yeah, it's unemployment so high that people are willing to go out and do it, undercut everyone else.
1460
01:20:46.381 --> 01:20:51.407
The other side of this bet though, going back to what we were talking about earlier, future generation, they get a bunch of money.
1461
01:20:51.467 --> 01:20:53.029
Would they rather have a human or a robot?
1462
01:20:54.235 --> 01:20:55.156
Yeah, tough to say.
1463
01:20:55.636 --> 01:20:56.156
I don't know.
1464
01:20:56.537 --> 01:20:58.398
Like right now, no one would want the robot.
1465
01:20:58.638 --> 01:20:59.819
I'm not even slightly worried about now.
1466
01:20:59.839 --> 01:21:04.282
I'm like, I guess in my time, I'm trying to figure out what would I... Is this 15 years, 20 years?
1467
01:21:04.382 --> 01:21:08.986
I don't... 20 years feels safer to me that you really have the humanoid thing.
1468
01:21:09.046 --> 01:21:10.487
I just think it's so overblown.
1469
01:21:11.427 --> 01:21:16.271
I don't think it's overblown in a warehouse or industrial or even starting to get into medical.
1470
01:21:19.373 --> 01:21:21.715
Even that's a little debatable, but like...
1471
01:21:23.398 --> 01:21:26.642
I just struggle with this idea that we're going to have this stuff in a decade.
1472
01:21:26.702 --> 01:21:30.988
I just cannot get my head around it in the real world walking around on the street.
1473
01:21:31.669 --> 01:21:32.650
Yeah.
1474
01:21:32.710 --> 01:21:33.711
Okay.
1475
01:21:33.731 --> 01:21:35.313
So any other predictions?
1476
01:21:35.353 --> 01:21:38.077
We talked a lot there about kind of the middle getting squeezed.
1477
01:21:38.678 --> 01:21:40.159
Any other predictions for 2035 specifically?
1478
01:21:40.200 --> 01:21:40.440
Yeah.
1479
01:21:41.475 --> 01:21:53.104
I think private equity is going to continue to buy up these companies because it's the safer bet because AI is so unpredictable and what it's going to do to software companies and so many other industries to disrupt them.
1480
01:21:53.504 --> 01:21:54.866
And so I think two things come from this.
1481
01:21:55.046 --> 01:21:58.769
One, I think private equity, the good ones are more sophisticated.
1482
01:21:58.789 --> 01:22:01.651
It's going to drive up marketing costs from like a Google ads.
1483
01:22:01.671 --> 01:22:03.832
And so, again, part of my concept here, it's like.
1484
01:22:04.974 --> 01:22:09.319
I think the digital side gets more expensive because they're going to have more budget.
1485
01:22:09.339 --> 01:22:10.280
They're going to spend more money.
1486
01:22:10.560 --> 01:22:13.463
And so I want to mitigate some of that risk.
1487
01:22:13.503 --> 01:22:19.430
And I want to go out using other strategies, other channels to get the client.
1488
01:22:19.610 --> 01:22:21.432
So I think marketing costs get more expensive.
1489
01:22:21.452 --> 01:22:21.913
Yeah.
1490
01:22:22.140 --> 01:22:23.340
I just want to interject.
1491
01:22:23.561 --> 01:22:32.484
If anyone would have bought, based on what you said just a couple weeks ago about software being undervalued, they would have been doing very well in the past couple weeks in the stock market.
1492
01:22:32.864 --> 01:22:35.025
All these companies coming back pretty strong.
1493
01:22:35.205 --> 01:22:35.385
Yeah.
1494
01:22:35.565 --> 01:22:35.745
Yeah.
1495
01:22:36.025 --> 01:22:36.905
There's overreaction.
1496
01:22:37.085 --> 01:22:38.046
Yeah.
1497
01:22:38.426 --> 01:22:41.527
And then the other thing, we've kind of talked about this before.
1498
01:22:41.547 --> 01:22:46.389
I think what's going to happen is all of our margins, if you're adopting technology and doing what we're talking about, you have this opportunity.
1499
01:22:46.409 --> 01:22:47.569
Your margins are going to get bigger.
1500
01:22:48.069 --> 01:22:50.330
And in the longer term, I think they're going to compress back down.
1501
01:22:50.470 --> 01:22:51.190
It always happens.
1502
01:22:51.210 --> 01:22:53.372
So it feels like a super easy prediction right there.
1503
01:22:54.472 --> 01:22:55.833
How do you feel about those two?
1504
01:22:56.593 --> 01:22:57.494
Yeah, those are good.
1505
01:22:57.574 --> 01:23:07.519
I actually kind of went down the trail of kind of, I actually got some evidence or like some data around this whole idea of the middle getting squeezed.
1506
01:23:08.100 --> 01:23:09.881
And so like I looked at the Landscape 100.
1507
01:23:10.361 --> 01:23:13.923
So we got on the Landscape 100 this past year.
1508
01:23:13.963 --> 01:23:17.985
And what's interesting, so I had a few takeaways because I went through the whole document.
1509
01:23:18.881 --> 01:23:28.584
First off, just getting on the Landscape 100 used to be – it was like $22 million you have to make a year.
1510
01:23:29.165 --> 01:23:31.965
And now it's like $60 million.
1511
01:23:32.025 --> 01:23:34.026
It's like 3x in the past 10 years.
1512
01:23:34.046 --> 01:23:39.968
So I looked at 2025 and I looked at 2005 and compared those 20 years.
1513
01:23:40.008 --> 01:23:41.309
And I'm like, what's going to happen next?
1514
01:23:42.049 --> 01:23:46.250
And so, for example, the number 10 spot went from $88 million to $461 million.
1515
01:23:48.992 --> 01:23:49.652
in that timeframe.
1516
01:23:50.093 --> 01:23:57.180
So looking at 2025 versus 2005, again, the consolidation of all this revenue in these bigger companies.
1517
01:23:57.220 --> 01:24:03.807
And even this year for the first time ever, the landscape 100, they actually divided it out based upon private equity backed versus non-private equity back.
1518
01:24:03.987 --> 01:24:04.968
Oh, Oh yeah.
1519
01:24:04.988 --> 01:24:07.611
So like we were 64th overall, but then 32nd,
1520
01:24:10.694 --> 01:24:16.779
when it comes to non-private equity backed, which basically tells you 50% of the top 100 companies are private equity backed.
1521
01:24:17.220 --> 01:24:23.745
And so to your point, just to back up what you're saying there, private equity moving into the industry and seeing the consolidation.
1522
01:24:23.805 --> 01:24:26.868
Because the average business in the Landscape 100 did the 5.2x...
1523
01:24:29.590 --> 01:24:31.291
more revenue over the course of the last 20 years.
1524
01:24:31.791 --> 01:24:35.693
And so did the average landscaping business make 5.2 times more revenue?
1525
01:24:35.793 --> 01:24:36.033
No.
1526
01:24:36.373 --> 01:24:38.034
So there is consolidation happening.
1527
01:24:38.054 --> 01:24:42.236
There is private equity moving into the industry and the trades in general.
1528
01:24:42.656 --> 01:24:45.617
And so I would 100% agree with both of those assessments.
1529
01:24:46.298 --> 01:24:47.858
And it strikes me that's going to hold up.
1530
01:24:48.199 --> 01:24:55.422
There's other trades like HVAC is a common example, pest control that are further down the...
1531
01:24:56.769 --> 01:24:58.532
road of roll-ups.
1532
01:24:58.572 --> 01:24:59.212
There's a lot more.
1533
01:24:59.232 --> 01:24:59.933
It's already happened.
1534
01:24:59.953 --> 01:25:01.996
No spaces.
1535
01:25:02.277 --> 01:25:03.819
We've had roll-ups forever in the green industry.
1536
01:25:03.839 --> 01:25:08.085
It's not a new thing, but on the residential side, this is a big difference, what's happening right now.
1537
01:25:08.926 --> 01:25:11.569
I think it's still early, is my opinion.
1538
01:25:11.589 --> 01:25:11.890
Yeah.
1539
01:25:12.440 --> 01:25:18.803
The only thing that the things that I would think about that could blow up valuations would be, of course, economic type things.
1540
01:25:19.343 --> 01:25:33.149
But if we keep doing a bunch of roll ups and then eventually some of the really big roll ups try to exit again and they can't get good valuations, that will hurt all the valuations down the food chain.
1541
01:25:33.589 --> 01:25:41.095
Or if we have a massive down stock market that stays down for a while, that will hurt all of our valuations in a very, very massive way.
1542
01:25:41.835 --> 01:25:42.416
And so...
1543
01:25:44.160 --> 01:25:48.204
Those could be two things that derail it, but my theory is that's still out in the future.
1544
01:25:48.264 --> 01:26:05.478
My theory is, for example, if you talk about those risks, the one where the future valuations of private equity exiting a second time, I just think there's a lot more time for this trade to play out before those really big exits happen that might discourage the market if it's going to happen.
1545
01:26:05.978 --> 01:26:07.079
So I think we got time there.
1546
01:26:07.159 --> 01:26:11.101
And then on the stock market, I think we're going to have at some point some pretty big drawdowns.
1547
01:26:11.482 --> 01:26:18.766
But I think we're in such a macro growth event from a technology standpoint where just everything's getting reinvented right now.
1548
01:26:18.846 --> 01:26:21.528
I think the trend is still up on the market in the longer term.
1549
01:26:21.748 --> 01:26:24.350
So I think that is important for valuations to hold up.
1550
01:26:24.610 --> 01:26:31.295
So my bet is that we're still, you still got years to build these outdoor services companies if we're talking about that.
1551
01:26:31.555 --> 01:26:34.217
And really most of the trades, you still got years.
1552
01:26:35.157 --> 01:26:37.400
where you can get these really good valuations.
1553
01:26:37.701 --> 01:26:39.603
And predicting any further than that, I have no idea.
1554
01:26:40.805 --> 01:26:48.675
How do you think from a marketing perspective, today we kind of started off with what's hot, what's working well in 10 years.
1555
01:26:48.996 --> 01:26:50.338
Do you think it'll be where we have
1556
01:26:51.452 --> 01:26:55.856
basically one or two places we're spending the money, like with these LLMs, Google, et cetera.
1557
01:26:56.317 --> 01:27:05.386
Or to your point, is it like, you know, ying when everyone else is ying and we go more back to the postcards, the door hangers, knocking on doors and going that approach.
1558
01:27:05.646 --> 01:27:11.492
And is that buyer going to be the same person that wants a robot, wants to interact with AI, wants to put a card on file?
1559
01:27:11.922 --> 01:27:17.226
Technology changes fast, but the problem is always technology adoption because humans don't change fast.
1560
01:27:17.887 --> 01:27:29.536
And so if I was making the bet in 10 years, I think we will have new tools and new ways of buying, but generally the human will still be the same and they'll still be receptive to the door knocking or the direct mail or all the old ways.
1561
01:27:30.076 --> 01:27:32.358
It'll just be that the percentages change of what works.
1562
01:27:32.398 --> 01:27:39.544
We'll be like more of our leads will be coming from an LLM model, but I'm not even sure what the LLM future looks like.
1563
01:27:39.864 --> 01:27:40.644
I think there's this...
1564
01:27:43.166 --> 01:27:47.208
So for those that aren't familiar, I don't know this is my prediction, but it's a thought exercise.
1565
01:27:47.268 --> 01:27:48.809
So there's these tools.
1566
01:27:49.689 --> 01:27:55.552
If you want to do text messaging, there's a really long-term popular tool called Twilio.
1567
01:27:55.993 --> 01:28:04.817
So Twilio is like a utility where a software product can integrate to Twilio, and Twilio will send and receive your message and pass it to your software product.
1568
01:28:04.937 --> 01:28:08.019
Or there's a product like SendGrid that will do your email.
1569
01:28:08.739 --> 01:28:10.120
or Mailgun, it'll do your email.
1570
01:28:10.140 --> 01:28:17.684
There's all these, like you as a user of technology, you don't know about these tools, but behind the scenes, they've made everything easier.
1571
01:28:17.704 --> 01:28:21.066
When we started Service Autopilot, we had to build all our own email technology.
1572
01:28:21.086 --> 01:28:23.008
There was no Mailgun or stuff like that.
1573
01:28:23.048 --> 01:28:25.669
Late in SendGrid, later we adopted that technology.
1574
01:28:26.410 --> 01:28:31.153
And so that technology sort of obfuscated away, sort of hidden from your view.
1575
01:28:31.773 --> 01:28:32.994
It's a utility in a sense.
1576
01:28:34.014 --> 01:28:39.756
And like your phone or your electricity, you don't think about those companies that much.
1577
01:28:40.076 --> 01:28:46.818
But then there's this layer built over top of them, like a service autopilot or Homeworks or another software product uses some of that technology.
1578
01:28:46.838 --> 01:28:49.919
You just know service autopilot or Homeworks or whatever software.
1579
01:28:49.939 --> 01:28:52.200
You don't know Twilio and SendGrid and Melgun.
1580
01:28:52.320 --> 01:28:52.560
Okay.
1581
01:28:53.420 --> 01:28:58.342
So could we be going to a world where from a...
1582
01:28:59.337 --> 01:29:08.609
open AI, anthropic scenario, they still are a big deal and we still do a lot of our work inside them, but to a degree, they're even obfuscated away.
1583
01:29:08.649 --> 01:29:09.710
They become utilities.
1584
01:29:10.451 --> 01:29:15.477
I don't know that I would make that bet, but I'm not convinced that we interact with them
1585
01:29:16.538 --> 01:29:19.141
in quite the same way in the future as we do today.
1586
01:29:19.181 --> 01:29:22.064
My theory is that lots of stuff gets built in front of them.
1587
01:29:22.905 --> 01:29:24.907
And so you're still interacting with technology.
1588
01:29:24.927 --> 01:29:34.318
And the technology, like these guys, like these guys, while they're really slow to adopt the Apple iPhone, like they're so slow to adopt technology,
1589
01:29:34.818 --> 01:29:36.559
the AI technology.
1590
01:29:36.599 --> 01:29:37.600
They're not an AI company.
1591
01:29:37.620 --> 01:29:44.846
They haven't bought an AI company yet, but they're in a prime position just to make a really big deal with Anthropic or somebody else.
1592
01:29:45.286 --> 01:29:53.693
And so there comes a day where we're just talking on our AirPods that have a video camera in them, and we're not even going to Anthropic anymore.
1593
01:29:54.538 --> 01:29:58.021
Or it's my other belief, like you don't get rid of a homeworks.
1594
01:29:58.061 --> 01:30:02.706
You don't get rid of a service autopilot if they do their job right, you know, if they get better.
1595
01:30:03.386 --> 01:30:09.011
You still live in those software solutions and all your AI stuff is happening in those solutions.
1596
01:30:09.031 --> 01:30:10.633
And you don't necessarily have to go to Anthrop.
1597
01:30:10.853 --> 01:30:11.914
Could that be where it goes?
1598
01:30:11.994 --> 01:30:12.414
And so...
1599
01:30:13.602 --> 01:30:18.945
And this is where it gets hard to predict, like where people will really be making their buying decisions.
1600
01:30:19.845 --> 01:30:24.928
I don't know if I went off on the off a little bit there, but that's kind of this is where these predictions get so difficult.
1601
01:30:25.388 --> 01:30:28.390
So I don't know what the human's going to be doing exactly.
1602
01:30:28.790 --> 01:30:33.353
I'm not sold that we're all going to just live in Anthropik or Claude.
1603
01:30:34.013 --> 01:30:39.275
I think I think where those tools are really, really big right now and they're only going to get bigger.
1604
01:30:39.315 --> 01:30:45.778
But we may not spend all of our time in and we may be using more specialized tool like the idea that Figma, the design tool completely goes away.
1605
01:30:46.158 --> 01:30:46.818
I don't buy that.
1606
01:30:46.858 --> 01:30:51.020
I think designers might still be doing a lot of their design in a Figma.
1607
01:30:52.040 --> 01:30:56.001
And it just gets more powerful using Claude or OpenAI.
1608
01:30:56.422 --> 01:30:59.663
Does that did that make sense or did I go too far off in the weeds there?
1609
01:31:00.419 --> 01:31:01.020
That's really good.
1610
01:31:01.120 --> 01:31:05.525
Do you, do you take, taking that as the foundation, do you anticipate then, um,
1611
01:31:07.302 --> 01:31:19.490
the same token that I use my agent to buy a service without actually looking into the brand it's buying from and looking at like my agent as the deciding factor of who it buys from.
1612
01:31:19.510 --> 01:31:20.691
Like, Hey, I need mowing.
1613
01:31:21.211 --> 01:31:21.451
Great.
1614
01:31:22.011 --> 01:31:23.392
I just go tell my agent it does it.
1615
01:31:23.672 --> 01:31:29.036
And do you think that the customer will ever trust the AI enough to actually let them make that buying decision?
1616
01:31:29.296 --> 01:31:30.597
Oh, I do in time for sure.
1617
01:31:30.817 --> 01:31:33.899
I'm convinced they're going to, they're going to run.
1618
01:31:33.919 --> 01:31:35.060
I just am convinced.
1619
01:31:35.100 --> 01:31:35.260
Like,
1620
01:31:36.397 --> 01:31:43.563
I think the same doubts that people had about the internet and how good it's going to be and how much like it's the same.
1621
01:31:44.203 --> 01:31:47.726
Again, I'm not a big crypto guy, but it took a lot.
1622
01:31:47.786 --> 01:31:50.969
People didn't trust anything Bitcoin or whatever crypto you want to.
1623
01:31:51.349 --> 01:31:54.332
But the market has become progressively more confident in it.
1624
01:31:54.952 --> 01:31:57.713
Internet, you know, can I trust this website?
1625
01:31:58.133 --> 01:32:02.674
People have become more and more confident in the websites of the Internet.
1626
01:32:02.874 --> 01:32:04.114
I think the same thing happens here.
1627
01:32:04.734 --> 01:32:15.456
It's not a great analogy, but it's like we just slowly, as something has been around longer and longer, and we have good experiences using it, and our friends talk about it, and they have good experience using it, we all just get comfortable with it.
1628
01:32:15.476 --> 01:32:16.296
It becomes normal.
1629
01:32:16.336 --> 01:32:22.398
Like people, I do think people, they kind of move slow when it comes to change, but they also accept change.
1630
01:32:22.638 --> 01:32:24.278
They get used to things pretty fast.
1631
01:32:25.098 --> 01:32:27.740
They may still be slow to adopt things, but they get comfortable with it.
1632
01:32:27.840 --> 01:32:30.921
So that would be my bet.
1633
01:32:30.961 --> 01:32:35.864
I just, this idea that it's going to look like it is today in 10 years just doesn't make any sense.
1634
01:32:35.884 --> 01:32:38.786
And we've never seen it work that way ever in previous technologies.
1635
01:32:38.826 --> 01:32:44.729
So I think, you know, I think the early theories on these AI models where we are going to have a winner take all market.
1636
01:32:44.789 --> 01:32:46.790
I don't think we're seeing that at all because technology.
1637
01:32:46.810 --> 01:32:50.132
They just keep bouncing back and forth.
1638
01:32:50.233 --> 01:32:57.778
And I think the companies like the open routers of the world and these different solutions have created the equivalent of this router concept.
1639
01:32:57.798 --> 01:33:01.241
We're like, okay, this system is smart enough to understand what problem you're solving.
1640
01:33:01.281 --> 01:33:03.863
And so it's like, okay, we're going to get clawed to solve this one.
1641
01:33:03.963 --> 01:33:06.064
Oh, we're going to use an open source model to solve this one.
1642
01:33:06.304 --> 01:33:07.725
You're not going to have any token cost there.
1643
01:33:07.745 --> 01:33:10.568
We're going to use this old AI model from...
1644
01:33:11.849 --> 01:33:13.110
open AI to solve this one.
1645
01:33:13.130 --> 01:33:14.291
And those tokens are really cheap.
1646
01:33:14.371 --> 01:33:15.872
I think that's where we're going.
1647
01:33:16.192 --> 01:33:30.384
And so if that's where, if people could save, if you could bring your token costs down 75% using a model like that, then you're not, that just right there in my mind proves you won't exclusively live in Anthropic, at least not the more sophisticated people.
1648
01:33:30.785 --> 01:33:36.590
You're going to live in some obfuscated away interface that is deciding where you should go.
1649
01:33:38.414 --> 01:33:39.675
I 100% agree about the iPhone.
1650
01:33:40.256 --> 01:33:52.828
It is in a prime spot to basically be the layer that immediately makes almost all of that irrelevant by just saying, hey, we will determine where we go with the model, and we don't care who it is, but we will serve the customer.
1651
01:33:53.709 --> 01:33:54.410
I 100% agree.
1652
01:33:54.430 --> 01:33:56.291
We're really interested to see what they do here.
1653
01:33:57.072 --> 01:34:04.394
Yeah, it's got another prediction that I've had for a long time that's continued to be wrong, but I'm holding to it someday in the future.
1654
01:34:04.974 --> 01:34:09.095
I just am such a believer in the augmented reality technology.
1655
01:34:09.455 --> 01:34:10.595
So everybody's tried it.
1656
01:34:11.336 --> 01:34:14.116
And I talked about this years ago and I thought it was going to happen faster.
1657
01:34:14.156 --> 01:34:17.557
Microsoft with the halo lens or I forget what the name of it was.
1658
01:34:17.977 --> 01:34:21.358
They were doing some really cool stuff like way back and it just didn't go anywhere.
1659
01:34:21.378 --> 01:34:22.738
And, you know, Oculus has done.
1660
01:34:23.038 --> 01:34:23.438
They're more.
1661
01:34:23.458 --> 01:34:24.179
Yeah.
1662
01:34:26.291 --> 01:34:26.631
What are they?
1663
01:34:26.671 --> 01:34:27.231
It's not AR.
1664
01:34:27.492 --> 01:34:27.912
Virtual.
1665
01:34:27.972 --> 01:34:29.312
They're more virtual than AR.
1666
01:34:29.592 --> 01:34:29.793
Yeah.
1667
01:34:30.073 --> 01:34:33.334
But now you're seeing meta and you're seeing other people work on the glasses.
1668
01:34:33.814 --> 01:34:36.015
I'm sure that Apple, they iterate slowly.
1669
01:34:36.816 --> 01:34:38.636
Their VR is going to become AR.
1670
01:34:38.816 --> 01:34:42.658
You could just see this coming, but it makes all the sense in the world for the trades.
1671
01:34:42.678 --> 01:34:46.580
The idea that I could just have an arborist or a Fert guy...
1672
01:34:47.462 --> 01:34:58.046
or a home pest control guy wearing a pair of glasses and he's 23 years old with limited experience and we can literally be working with him at the office while he's wearing these glasses.
1673
01:34:58.066 --> 01:35:00.267
Like, how is that not the future?
1674
01:35:00.987 --> 01:35:12.292
And so that's an example, again, of an obfuscated away layer where his glasses are interacting with AI models, both from an audio and a visual standpoint.
1675
01:35:12.592 --> 01:35:14.213
he's not actually in chat GPT.
1676
01:35:14.233 --> 01:35:15.953
He's not actually in any of the models.
1677
01:35:15.973 --> 01:35:19.635
He's just wearing his glasses and behind the scenes, he's getting his inputs.
1678
01:35:19.935 --> 01:35:25.918
Like I really think the other future is like, it's just, it's constantly taking picture.
1679
01:35:25.938 --> 01:35:32.700
Like somebody will get to video, but it's constantly taking pictures of your surroundings and it's uploading it to these models and you're getting constant feedback.
1680
01:35:32.720 --> 01:35:35.302
And then eventually it'll just be feeding video to these models.
1681
01:35:35.322 --> 01:35:35.602
So yeah,
1682
01:35:36.662 --> 01:35:39.588
That's a that's a prediction I hold hardcore on.
1683
01:35:39.608 --> 01:35:41.652
That is the future of home services.
1684
01:35:41.732 --> 01:35:46.801
We will be wearing these glasses in a massive way in the future, and it will majorly change our businesses.
1685
01:35:48.104 --> 01:35:51.628
Yeah, just until Charlie's up at the top of a palm tree and his glasses fall off.
1686
01:35:51.648 --> 01:35:53.209
What do I do now?
1687
01:35:53.310 --> 01:35:54.851
I don't know how to get down.
1688
01:35:55.192 --> 01:35:57.574
Yeah, exactly.
1689
01:35:57.774 --> 01:35:58.915
Oh, that's awesome.
1690
01:35:59.036 --> 01:35:59.196
Cool.
1691
01:35:59.276 --> 01:36:02.279
Do you have any non-financial advice for the people before we head out?
1692
01:36:02.780 --> 01:36:04.281
Non-financial advice.
1693
01:36:04.762 --> 01:36:06.203
You know, why do I always get caught off guard on this?
1694
01:36:06.263 --> 01:36:07.725
Okay, I'm going to start being prepared on this one.
1695
01:36:08.025 --> 01:36:09.447
A little bit of what we said earlier, I...
1696
01:36:09.967 --> 01:36:13.009
We were talking about the AI and I had made mention.
1697
01:36:13.189 --> 01:36:14.249
I know we've talked about this before.
1698
01:36:14.690 --> 01:36:18.932
I can't encourage you enough to record all your phone calls and then listen to them.
1699
01:36:19.072 --> 01:36:20.073
Record them for two reasons.
1700
01:36:20.233 --> 01:36:28.137
One, record them because they're how you're going to train your AI models in the future to understand your company, but also listening to them.
1701
01:36:28.337 --> 01:36:39.083
It is just so unbelievably telling, both from an improving customer service standpoint, but also from the standpoint that you learn so much about how to write your marketing copy.
1702
01:36:39.323 --> 01:36:44.605
you hear what people are worried about, frustrated about what they need, the way they say things, and that informs how you write your copy.
1703
01:36:44.625 --> 01:36:47.706
So I get really serious about recording and listening to your calls.
1704
01:36:49.147 --> 01:36:51.008
Awesome.
1705
01:36:51.168 --> 01:36:52.988
I was also not ready for non-financial advice.
1706
01:36:53.008 --> 01:36:53.769
But you brought it up.
1707
01:36:54.289 --> 01:36:54.869
I know I did.
1708
01:36:54.909 --> 01:36:55.469
I did.
1709
01:36:56.330 --> 01:37:00.211
So this is actually my non-financial advice.
1710
01:37:00.811 --> 01:37:01.151
Oh, yeah.
1711
01:37:01.191 --> 01:37:01.512
Yeah.
1712
01:37:01.852 --> 01:37:02.052
Yeah.
1713
01:37:02.112 --> 01:37:02.952
Have you had these before?
1714
01:37:03.192 --> 01:37:03.592
Oh, yeah.
1715
01:37:03.772 --> 01:37:04.673
We've got a lot of them.
1716
01:37:05.193 --> 01:37:05.653
Yeah.
1717
01:37:05.673 --> 01:37:07.494
Have you tried the other ones that are more like a candy bar?
1718
01:37:08.415 --> 01:37:09.336
Like the puffy ones?
1719
01:37:09.556 --> 01:37:09.756
Yeah.
1720
01:37:10.356 --> 01:37:10.876
They're mid.
1721
01:37:11.297 --> 01:37:11.717
Do you like them?
1722
01:37:11.737 --> 01:37:12.697
Okay, we can try them.
1723
01:37:12.818 --> 01:37:18.101
The first time we got them, which was right after they released, we thought, man, these things are amazing.
1724
01:37:18.841 --> 01:37:20.022
They were less protein.
1725
01:37:20.962 --> 01:37:22.323
I still kind of worry on all this stuff.
1726
01:37:22.343 --> 01:37:23.844
Like, what are the chemicals in this stuff?
1727
01:37:23.884 --> 01:37:24.124
Yeah.
1728
01:37:24.464 --> 01:37:26.665
So I still try to eat as much whole food as I can.
1729
01:37:26.685 --> 01:37:28.807
But David bars are exactly the bar we eat.
1730
01:37:28.927 --> 01:37:30.868
The only bar we buy these days.
1731
01:37:32.029 --> 01:37:36.971
The second one, for me, it was I couldn't eat it at my desk because it was crumbling all over the place.
1732
01:37:37.011 --> 01:37:37.912
Oh, wait, the...
1733
01:37:38.692 --> 01:38:03.548
the new second version yeah like the bronze looking ones have you had like the because this is gold the bronze looking ones though which one puffy yeah almost like marshmallow-y yes okay so those are the ones the first batch that we got i don't know exactly they came with some of the bars we bought and then we bought some more they were really good they were like soft and they weren't flaky and they were like eating a
1734
01:38:04.883 --> 01:38:06.023
Three Musketeers type bar.
1735
01:38:06.563 --> 01:38:06.764
Yeah.
1736
01:38:06.944 --> 01:38:07.624
That's how I'd put it.
1737
01:38:07.684 --> 01:38:11.905
You know, then the next batches we've got, they haven't held up, but there's something different.
1738
01:38:12.385 --> 01:38:14.646
So chemicals, maybe so.
1739
01:38:15.046 --> 01:38:17.427
Maybe they had to get some chemicals out of it or something.
1740
01:38:17.447 --> 01:38:18.127
It's like, I don't know.
1741
01:38:18.147 --> 01:38:18.527
I don't know.
1742
01:38:19.067 --> 01:38:21.168
I heard, I was listening to a podcast with the founder.
1743
01:38:21.208 --> 01:38:22.268
He's a cool, cool dude.
1744
01:38:22.288 --> 01:38:22.728
Very smart.
1745
01:38:23.348 --> 01:38:26.529
Um, but definitely more of a scientist instead of like a marketer type.
1746
01:38:26.789 --> 01:38:27.049
Okay.
1747
01:38:27.249 --> 01:38:28.970
Uh, but it, there's a lot of science behind it.
1748
01:38:29.010 --> 01:38:32.491
I did go down the rabbit hole of like seeing how they engineer the protein, but yeah.
1749
01:38:32.611 --> 01:38:35.113
They've been, you know, and those are good.
1750
01:38:35.134 --> 01:38:36.875
You know, they're in their 150 calories.
1751
01:38:36.895 --> 01:38:37.416
That's crazy.
1752
01:38:37.636 --> 01:38:40.218
But you know, they're about their lawsuit around those 150 calories.
1753
01:38:41.460 --> 01:38:42.440
I know of it.
1754
01:38:42.521 --> 01:38:43.401
Didn't really dive deep.
1755
01:38:43.461 --> 01:38:46.584
I don't know much detail on it, but they're being sued or it may be absolutely nothing.
1756
01:38:46.604 --> 01:38:53.371
But there's a fairly and I assume it hadn't been settled, but a fairly large lawsuit that they're 150 calories is being calculated incorrectly.
1757
01:38:54.547 --> 01:38:55.828
I'll go, I'll believe it.
1758
01:38:55.888 --> 01:38:56.808
I'll just keep going with it.
1759
01:38:56.828 --> 01:38:58.629
Cause it gives me more calories for the day.
1760
01:38:58.789 --> 01:38:59.369
Exactly.
1761
01:38:59.709 --> 01:38:59.909
Yeah.
1762
01:39:00.029 --> 01:39:02.390
No, I mean, he, they, they have to be killing it.
1763
01:39:02.550 --> 01:39:03.690
They have to be doing really good.
1764
01:39:03.910 --> 01:39:05.511
And what was the bar he had before?
1765
01:39:05.991 --> 01:39:07.131
It was in the CrossFit gyms.
1766
01:39:07.532 --> 01:39:09.352
It was the one RX.
1767
01:39:09.532 --> 01:39:09.772
Yeah.
1768
01:39:10.012 --> 01:39:10.833
I mean, that guy.
1769
01:39:10.853 --> 01:39:12.513
And that was the marketing.
1770
01:39:12.653 --> 01:39:13.093
So good.
1771
01:39:13.434 --> 01:39:15.974
Like, yeah, it's also one of those things where you see it sometimes.
1772
01:39:15.994 --> 01:39:18.255
You're like, Oh, like I should do off the wall stuff.
1773
01:39:18.415 --> 01:39:19.456
And then it doesn't work.
1774
01:39:19.736 --> 01:39:19.896
Yeah.
1775
01:39:19.916 --> 01:39:23.637
But like the off the wall stuff, like just the ingredient list being the marketing, like,
1776
01:39:24.567 --> 01:39:31.070
In hindsight, it's brilliant, but it's also like it immediately caused someone like myself to be like, oh, I should do things off the wall.
1777
01:39:31.110 --> 01:39:31.550
And you try it.
1778
01:39:31.610 --> 01:39:32.831
It just flops.
1779
01:39:33.111 --> 01:39:37.132
I'm sure there's 100 versions of that same bar that didn't work out before.
1780
01:39:37.633 --> 01:39:39.413
But it is interesting, especially given this.
1781
01:39:39.433 --> 01:39:42.955
It looks like some sort of like luxury looking thing.
1782
01:39:43.535 --> 01:39:44.195
Yeah, man.
1783
01:39:44.335 --> 01:39:44.996
Yeah.
1784
01:39:45.036 --> 01:39:46.236
They're just doing so good.
1785
01:39:46.716 --> 01:39:46.857
Cool.
1786
01:39:46.897 --> 01:39:47.097
Awesome.
1787
01:39:47.617 --> 01:39:48.377
That's the podcast.
1788
01:39:48.397 --> 01:39:49.578
Thank you all for watching.
1789
01:39:49.718 --> 01:39:50.478
Comment below.
1790
01:39:50.538 --> 01:39:51.478
And we'll see you next week.
1791
01:39:51.639 --> 01:39:52.179
See you next week.
1792
01:39:52.559 --> 01:39:52.699
Bye.