You know I try to make it as simple as possible all .we really are is an agency you know. I think what makes us different is because I didn’t come from the agency landscape and, more importantly. I built Vayner media with the intent to be a platform for buying businesses and brands during the next economic downturn. It’s been built very differently the first thing that was different was that we have media and creative under one house not part of a holding company. Where it’s separate companies, but from day one it was built where both media and creatives sit together and the context.
The end consumer is truly not through reporting not through data but truly at the forefront, and we think about math and art as friction to create diamonds. No one is more valuable than the other and then really the only other big variable differences. It’s you know a dictatorship you know and what I mean by that is I don’t have a board I don’t have a Holding Co everything wrong at Boehner is 100% my fault.
Strategic Plan by the entrepreneurial operator
When something’s run by an entrepreneurial operator, a lot of good can happen in growth, and a lot of growing pains and silly young things happen. I definitely think we’re dramatically more contemporary. I think it is quite disruptive over here, and I’m proud of that. I think it’s a very different shop because it comes from a very different agenda. You know we’re not held accountable to every 90-day finance goals.
I think that has been a massive advantage no and no getting on a call with analysts and appeasing some short-term narrative that’s an inside vig game. I remember a meeting that we had at one point where you came to us.
Social Platforms Fascination
One time you came and said you guys gotta figure out soundcheck you’ve got to be on Snapchat it’s the future and everybody watching around the world that LinkedIn and tick-tock are the two platforms that give you organic reach. iIf you do not pay media if you’re a nobody and You post on either one of those two platforms something great can happen that cannot happen outside of a miracle point zero zero zero zero one percent chance on Facebook Twitter Instagram and YouTube those things always fascinate me because I love underpriced real estate you know.
If I came to somebody twenty-five years ago and said there’s an island called Turks and Caicos. I genuinely believe more people will go to it over the next twenty-five years, and we bought our property everybody would be happy,. So I spent all my time on two core things one underpriced organic reach which often is more at a small entrepreneurial SMB level at the corporate level they’re important.
I want companies to get the reps of understanding the nuances that are making this platform pop and understanding LinkedIn. Today is very different than all of us understand it, four years ago it’s a completely different beast. LinkedIn today acts much more like Facebook did six years ago than it does with the LinkedIn that we all grew up using which was a tool, not a content platform the things.
I’m learning on tik-tok now will matter because those are getting instilled into 12 and 19 year old right now and those will become nuances that quite matter in communication in three-five seven-nine years obviously Chase is less likely to be obsessed with understanding tick-tok in comparison to bands or in comparison to Mattel right. So you think about all those things but I don’t know what’s next what I do know? I’m incredibly good at understanding as a human subjectively intuitively of what seems to be current and then I put a ton of disciplined and work ethic and dollars and effort into proving that hypothesis to be true or false okay.
I think the platforms are making a ridiculously personal I think it’s smart. I think that platforms revenue from political ads is not significant enough in return for what the headlining and positioning means to it and all the vulnerabilities of had we are in a fully on tilt headline reading society the amount of opinions in this room from the two of us to everybody.
The platforms have done an incredibly bad job in distinguishing what a platform is people are way on tilt on believing that they’re manipulating something. I mean Marc’s opportunity when AOC asks him like will you police this truth is easily rebuttal with can we have CNN and Fox do that too like we are we’re at a very funny place where we ask modern technologies to do things that we don’t hold traditional technologies accountable for so great, but I think in the macro they’re doing a poor job.
I would I’m very curious what the very differences between not fact-checking an ad in a Facebook feed versus not checking a fact coming out of a news anchors mouth on a news platform. I love pushing back a bit I don’t view technology any different than I look at humans this is one big game of communication do we have data that shows what Carson Tucker or Don Lemon mean when they say something that’s my push back is when are we going to hold ourselves accountable for the information. You know like you know whether a bot is run to run more ads or more a potential awareness against a headline or a newscaster uses an adjective in a way that pushes that information.
What we want? What is our Interest?
I think we’re justifying what we want to be true through the propaganda educated consumer and be discerning by putting in the work. how many people here are going to keyboard warriors about politics and not even registered a boat? how should we do it the same way we do everything remember?
Look at the first 500 reviews of crush it that was published in 2009. Basically it’s a mix of this guy is completely a snake oil salesman to social media. We’ll be gone next year there was not a belief that the nuf scale could happen on these platforms to create something meaningful. So what’s evolved is the acceptance from the masses that there is power behind these platform 2009.
Where people didn’t believe me that these platforms were powerful enough for you to be able to make $80,000 a year to us. Now feeling like we have to break up these companies because they’re so powerful in dictating our minds, so that changes the perception of the power of social networks. Which oh by the way are just the current state of where our attention is on the Internet itself whether this goes to an R or VR.
Who have a certain perspective on how they’re gonna live their life what is gonna bring the most happiness to them and I want to continue to beat a drum of do not underestimate the power of this platform do not underestimate. what it feels like to be desperately happy making a hundred three thousand dollars a year doing something, you love versus being unhappy making a hundred ninety-seven thousand dollars a year spending it on things to disguise your unhappiness.
I’m so comfortable with no and losing and fear but I’m so empathetic to people that aren’t I and this will surprise a lot of you that maybe follow me I’m unbelievably comfortable with aggressiveness and candor and binary talk on stage but one on one I’ve really struggled over the last 25 years as an executive with radical candor and shooting it straight because I’m so optimistic.
I’m always trying to fix it and so that’s taken me a lot of work and through that work I’m like. You know there’s the things that come natural and the things that aren’t if you grew up in a framework with parents or customs that really desperately overvalued outside affirmation the opinions of your parents as parents or siblings because you come from let’s call it what it is an immigrant background.
Where there’s a huge commonality their school you were so deeply bought into school that the short term affirmation of every any days with grades and report cards made you comfortable. It’s very hard to then go into this is what you should learn from entrepreneur land like don’t worry about it it’s all going to fine that’s very hard you’ve fully built yourself as an animal to completely value outside judgment that is not based on the market but based on another human beings.
My Experience, My Thoughts
Being a human being do you really want to live with regret like do you not understand that the Internet is the greatest optionality. In the history of mankind that our grandparents and everybody behind them had nowhere close to the options you sit with today and really like what are you valuing that’s making you conform into doing something that doesn’t make you happy your current overhead so sell your home and rent that sounds crazy you know.
when I started talking about like hey in the pursuit of happiness would you consider selling your home and renting. I mean I got destroyed in the comments sections and it allowed to play like. I’m some horrible person I’m like how is living your life to pay the bills that you’ve created for yourself that’s all humans all that humans do or create their own jails and then live within it that’s all.
We do so so knowing that that’s very hard in a human way the situation you have with your parents all that stuff the professional one feels like I have a prayer of communicating that and letting people and here’s my point if you want to be a professional skier.
If you want to start a blog or podcast around anything. I mean it I think people need context on life a little bit I think people have a horrible relationship with time do you don’t need people in this room are scared shitless of 30 like it’s some thing. It means nothing but our society’s decided to tell you that you have to fit figured out to marry even children and what are you talking about 98% of the 59 year olds? I know don’t have it figured out the hell are we supposed to have it all figured out at 30 25 like people are making terrible decisions getting married because they think they’re supposed to by this age. You know like buying homes because they think they’re supposed the rules of modern society have led to everybody wants to blame technology you know and drug companies for you know all our problems.
We need to blame our norms our expectations are ridiculous North Stars that have make no sense we’re living. When I look at this young of a crowd they’re living to a hundred and ten there’s an enormous amount of people in here that are gonna live to 110 and are freaking out that they don’t have it figured out by 30 you’re not even a quarter of the way. There yet what are we talking about so in you know that’s very heady stuff in its practical layer of a business and life and jobs and career.
I’ll just go to that for a minute entrepreneurship is super lonely. I hate that entrepreneurship is cool now because people that are not entrepreneurs are jumping in and it is a dangerous lonely game. If you’re not a purebred you will get eaten up if you don’t love losing and love the struggle and love the push back you will use you’ll be unhappy but the reason that a lot of entrepreneurs are workaholics is that they love it they got lucky they like literally love. I remember not loving it I mean being in school looking at the clock from first period on those things one day in high school feels longer than the last decade of my life. I mean that and I know there’s an enormous amount of people here at this rate exact moment that are already counting down Friday and that’s not good and that’s not good for chase and that’s not good for them.
I have to go on the communications path and then I have to be a more senior communicator. We have place like JP Morgan Chase you can like mary said you can move to London you can move to Dubai and take the risk of people are terrified rich people are in the business of no people are in the business of saying no before they asked people prefer to blame the Machine. I’m aware I have it at Bainer I’m a full hardcore open-door policy but some people would rather go to the bathroom and vent that actually talked to me. When I’ve proven over the last half-decade how unbelievably safe it is to talk to me practice I’ve been thinking a lot about this lately. I think you have to challenge yourself listen careers are a big personal reason I talk so much about work is it’s a scary percentage of our entire life the amount of time. You spend working and comparison that everything else you do is when you add sleeping into the equation it gets really intense.
I really push people here and how do you do it. If it’s too hard to do here because you were a student. You’re in a machine and now you this and it like you have to try to do things outside of like I actually think somebody here off of this talk who then goes and tries skiing. I don’t know why I’m stuck in that today for the first time and never was a skier or cooking or going to you know an opera doing something completely uncomfortable may start the process of doing something uncomfortable here I think it’s practice.
What I talked about earlier perspective is the game and you can get it real quick if you go into that jungle and be that’s you doing something uncomfortable. I think people have to break patterns I think you do something different or build courage to do something different by getting used to it the great action of my life was I was an immigrant who got picked on for not being able to speak English I was a terrible student.
I was not good at sports. I basically lived the first 18 years of my life telling me that I was a losing platter. I look I view privilege first and foremost we don’t have the date. You know we can see a white male looks privileged we can see somebody who’s well-off financially as privileged the real privilege game in our society is what’s going on in everybody’s dome mental privilege is number one right when I wish P this is why I’m talking so much about parenting we are living through the worst execution of parenting in our society because we’re living through such enormous success abundance and prosperity in America for the last 60 70 years.
So now parents are getting into things you know parents during the Great Depression struggled with going to school and yelling at the parent at the teacher for not doing this that or the other thing. So we’re living in eighth place trophies fake environments entitlement there are kids in this room right now who take money from their parents and are over at the age of 22 I believe that that is the number one poison in our society.
What two generations ago used to do now we just we’re so entitled we just expect this is what you know everybody always asks me. How do I manage you know these Millennials. I’m like with empathy, they were parented in an environment where if you came in ninth they clapped for. You I don’t think that I think this isn’t a super important subject matter. I’m not saying do somebody and DNF student so I’m not interested in hypocrisy my daughter who’s ten looks like.
Do, What You Passionate About?
She’s a big-time student I think she studied more yesterday than I did in my entire career. I you know maybe I’m not as passionate about which is be more within the system create less risk my kids could say you know whattheir happiness and I think may be very unique and couldn’t be more passionate and delivering to this audience as the following. You may have some insights opinions and actual knowledge about and you are not communicating an opposing view because you know that it won’t be accepted by the managers above you and you think it’s a vulnerability by communicating it and I think it’s the reverse.
I think there’s an incredibly soft and respectful way for you to create a data point to the conversation and that I believe this is what I see a lot happening. Where people don’t say anything because they’re appeasing how to move up manager to manager manager the world actually changes and then the company resets. The executive by not saying something gets viewed upon as that was their point of view and they get hurt by pandering to the Machine verses by being historically correct in the room. When all those executives either grow within the organization or dispersed to other organizations. They become an interesting prospect to bring along because they were historically correct. I’m giving advice that I take as an entrepreneur my businesses are always much slower and smaller up front.
So I would say that and then on cab I think cab is the most overpriced wine in the world it became very popular. I think Napa Valley cabs are has declining CAC and what’s the value of that customer and you know I would share my thoughts the key that I noticed is but you have to know what you’re talking about where a lot of people get caught is they think they know what they’re talking about. They say something and they’re wrong one of the things that’s super interesting to me is I talked about a very narrow thing. I stay very narrow. I’m just not interested in being wrong. So I actually stay quiet for all the talking. I do I’m quiet around 99.9% of things so I don’t get involved in a lot of other subject matters. I could talk about marketing I could talk about the Jets offensive line woes you know I could talk about wine.
So for Cabernet maybe a maybe a Bordeaux based cab from the Medoc because I tend to like a little more vegetal and nuanced flavors so and that like red wine like it to some degree to love it. I just know that there’s alternatives in Portugal alternatives in Argentina that can appease your big fruit silky creamy oaky flavors for a third of the price.
If you’ve perfectly executed one mile radius Facebook Ads with contextual creative to the person that’s seeing it that’s all that when I had the awakening at 34 of like wait a minute.
When I started winelibrary.com in 1996 people told me the Internet was a fad the whole thing forget about snapchat or vine or tick-tok the whole thing you know people that sold the yellow pages in a Chamber of Commerce event made fun of me as like you know like this kids like he’s gonna be wrong. What humans are actually doing I’m not right about tick-tock humans are doing it there’s a hundreds of millions of people using it this is not prediction time this happened. I love people like what’s next you’re Nostradamus. I’m a post game newscaster. I’m not Nostradamus um I’m like Howard Cosell this happened podcasting happened yeah LinkedIn happened. I’ve never predicted a thing in my life I’m just not scared to execute on what’s actually happening.
I reply and say then stop taking the money dick but I also know what’s going on at a higher level which is parents are using their children’s as products to impress their contemporaries. The reason parents pay is not necessarily because they want to help the kid it’s they want their friend their sister their parents. I restrict my kid’s time on their phone I’m like they’ve seen porn you know like this notion that like we can control life is laughable.
One kid John Longo was a real pitcher big fat Italian kid if you’re watching John and because he was so big he could throw gas and he just overpowered me. I went over four and struck out four times which was unheard of because I was really up like my apex then and meanwhile this was the woman. When I opened the door for an elderly woman had McDonald’s once treated it as a Nobel Prize winning award behavior so she created enormous self-esteem but not delusion right this whole listen. If you’re five foot four and your parents are telling you yes you can go to the NBA Abraham that’s fine that’s fine but it needs to be added with and you will be one of the only three people in the history of the sport and oh by the way Mugsy Bogues and spud Webb could do all these other things. You are showing that you cannot we are like this you can be anything delusion is what’s leading to a lot of resentment and pushback.
It’s a lot easier to produce content when you don’t have to think that’s right and the reason I brought up document and dough creators. I’m not scared of my truth my strengths my weaknesses. It’s not fun when you’re actively the CEO of a thousand person company to actively always constantly talk about struggling with radical candor knowing your employee sees that and then if sitting in front of you and you’re dancing around.
He left nothing for the opposing party the most unhappiness you will ever have is the secrets you’re hiding because you don’t want anybody to have that leverage. Once you let it go you become fundamentally unstoppable you’re welcome.
I would have never known that I would have never known what kind of sadness people that were getting subsidized would actually feel you know we don’t have empathy for other people’s problems we think our problem is the problem and so a lot of listening. What my next businesses will be will be because I’ve listened did a little homework see the blood in the water shark it up of course by doing that you listen to the way you just said it the fact that you know that it’s content which it is communication is how everything happens documenting it. Which you understand it’s kind of like you saying how do I get healthier you know I know I have to eat better and workout every day. I’m like my eating better and working out every day you’re talking about a lack of patience no nonprofit that has no awareness and didn’t exist should be getting an overflow of donations.
I think they both work I just think they all run way too long there’s not a single meeting that anybody in this room has been on that wasn’t too long. I fully believe that you’re welcome how are you no but I do think the vlog has a little bit of that obviously you probably know this I’m quite private you know. I share nothing about my family or personal life. So I don’t like I do bees right first of all. I would have never I would never let a network have that much control or economic upside knowing the world. I live in but even then I have too much empathy for them. They would want all the other stuff and that’s just a line. I’m not willing to cross so no.
It’s very historically true. There’s the black and white way and the great way and things have been flow they have their moments. I don’t even know what book you’re talking about focus on one thing but it has its moment and then next week some young lady’s gonna put out a book called do sixty-four things and it will have its moment this is a self-awareness game. I’m not right. I’m just hopeful, you can do that too there is no right. You want to type across every T make seven hundred lists a day amazing just make sure that you’re doing it because that’s how you like it right that’s it.
I think I’m more balanced at at 43 then I was at 23 but I’m going to tell you something. I’m really trying to manifest an answer for you it’s unbelievable how much practice. I have on the inability to dwell you know I passed on uber twice on the angel round from one of the people that I was best friends with while investing in a bunch of other things and that $50,000 investment would have been would be worth 900 million dollars that was a mistake. You know there’s there’s so many mistakes I mean like I make a mistake every day of my life like a lot of them like especially now where I’m crippled by opportunity like you know every every day. I’m fundamentally sure of the following sentence every day. I’m making pretty big mistakes because I’m saying no to something that could have led to the big thing of happiness or success. I’m just not crippled by that I just don’t understand why people spend time on that do you meet people that are in college debt spend 80% of their down time being resentful.
They took on debt for something they’ve come to realize didn’t bring them as much value in return the problem is it’s over like. I’d much rather if they took all that time garage saling and going to teach max and flipping they could start chipping away at the debt is loaded with arbitrage. It is you’d go to t.j.maxx spend a thousand dollars and make four thousand on eBay and Amazon every day the week but instead of making that three thousand dollars of putting in work instead of watching Netflix or going to do something else. People would rather sit and complain why they pick people would rather sit in a bar on a Friday afternoon buy an $18 cocktail and complain. They’re in college debt then do what I just said nothing. I just lived I actually think that’s the answer I believe that a lot of people overcorrect with tutoring make. I believe that humans especially today are making mountains out of molehills.