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Ep 3: Making Millions off an Email Newsletter?! Sam Parr from The Hustle Tells All

 
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Sam Parr: A big CEO of a huge media company that you know of told me this business will never make more than $2 million dollars a year. And it wasn’t until like six months ago where I was like, “Man, there’s like a path to make literally $100 million a year in revenue.”

Sam Parr: (Singing)

Sam Parr: Yeah this is cool.

Shaan Puri: All right, we are here with Sam Parr, the founder of The Hustle, the big daddy of the publisher of the podcast. How does it feel to have a podcast on your network now?

Sam Parr: Well, I’m excited and I hope people will like it. We have to wait and see the numbers first. That’s what I’ll be excited for most.

Shaan Puri: I know. I know. All right. So for those who don’t know, The Hustle is a daily newsletter that goes out to about a million and a half readers. Is that right? Million and a half.

Sam Parr: Yeah, we could say that.

Shaan Puri: And we’re growing. Every morning people like to start their day with it. The way I think about it is like you get an email and it tells you the news, and I like the way you describe it, which is, it’s like your no BS friend just explaining it to you. So it’s a simple way to understand what’s going on in the world without spending a whole lot of time doing the research yourself. It’s like we did the research for you.

Sam Parr: Yeah. As if I’m me, Sam Parr are going to tell you Shaan the news each day.

Shaan Puri: Right. And because you spend five minutes on it in the morning, you save an hour of doing that reading and research and finding out what’s important yourself and what to make of it. And then, you’re at work, you’re at the water cooler and you sound smart.

Sam Parr: Yes. And we have more stuff coming out but that’s our big thing now.

Shaan Puri: Okay. Okay. Yeah. And something that launched today, I believe. Right.

Sam Parr: A little beta launched yesterday.

Shaan Puri: Okay. All right. So we’re going to get to that in a second. But let’s start with the question we always start with. Sam Parr, how did you make your first million?

Sam Parr: By starting and selling multiple companies, which the biggest one being a news operation that emails millions of people a month and tells them the news they need to know each morning.

Shaan Puri: All right, and you said starting in selling multiple businesses, so different way of looking at it is when did you know you wanted to make a million bucks?

Sam Parr: Not for a very long time. My mom and dad are entrepreneurs. I thought that that’s just what you do to make a living. I didn’t really think about money a lot other than I knew that I wanted to start businesses because that was like my hobby.

Shaan Puri: Like when you were a teenager you mean?

Sam Parr: Yeah, but then when I got older, only like a year or two or three years ago did I realize that money was something that’s nice to have a lot of. But it’s not as nice as I thought. So for years I was just doing this because it was fun and exciting and it just so happened the output, the result was income.

Shaan Puri: Okay. Like a lot of people say that. They say, “I’m not doing it for the money. The money is sort of a byproduct.” And I like that. I think that is a great way of at it. But I also know you, you’re my friend. You think about money a lot. You ask about money a lot. We talk about-

Sam Parr: I love talking about it, but when I ranch, I talk about it all the time. But I was a track and field athlete in college. I talked about that all the time too. It was just whichever the career I have, or the vocation that I have at the time, that’s what I’m obsessed about. And so to me, money is… It’s kind of like bench pressing 300 pounds. Once you get past a point, which is lower than you think, it’s not really that important to be able to bench 350 pounds, but it’s just like you’re obsessed with it.

Shaan Puri: Right.

Sam Parr: Because you as my buddy can bench 400 pounds. So it’s like, man, I want to beat you, I want to compete with you and I want to compete with myself.

Shaan Puri: Got you. And when did you like first started doing business? Are you a kid [crosstalk 00:03:50]stand type of thing.

Sam Parr: I was selling stuff on eBay, track and field shoes. My old clothes, I would sell them on eBay and then I would sell stuff on Craigslist.

Shaan Puri: And you were doing it because you came up with yourself, you saw somebody else sell it on eBay.

Sam Parr: I came up with myself, and I thought it was a really cool adventure. It was just like I have an vindictive personality and this was my adrenaline rush. I started YouTube channels that got millions and millions of views like the first year or two or three years that YouTube existed and that made money and I just loved scheming.

Shaan Puri: What kind of channels?

Sam Parr: So this was in 2009 I don’t know how YouTube was around then.

Shaan Puri: Yeah, I think YouTube started maybe 2004, 2005 but-

Sam Parr: So it was like the third or fourth year of YouTube in existence. And I noticed that when you would type in a certain phrase on YouTube, it would auto fill and, I would just look at all the words that would be auto filling, and I’m almost embarrassed to say this, but I will. But if you typed in like street fights, it would be like street fights, it would auto fill with like black guy beats up white guy or street fights, white guy fights, black guy.

Sam Parr: And so I would was kind of schemy and I would create these videos with these click-bait titles and the thumbnail would be the only image that existed. So it was a video with just… Because YouTube didn’t have that filter to like catch that its-

Shaan Puri: So the video was nothing.

Sam Parr: Yeah, it was nothing. But if you… I can go and find it somehow and, it probably has 10 million views and then I would charge bands money, 10, 50 dollars a month to have their music as the background.

Shaan Puri: And so you didn’t even have a fight because I used to search for these. I used to watch Kimbo slice-

Sam Parr: Yeah the same stuff like street fight. Like big black guy knocks out little white guy. I have a video that’s titled that, that has 5 million views. And don’t you remember on YouTube years and years ago when you would click these certain videos and you’d hear these horrible electronic music?

Shaan Puri: Yes.

Sam Parr: So those people paid me money to put my ads or put their music on the background.

Shaan Puri: So how old are you when this is going on.

Sam Parr: I was a senior and freshman in college. So like it was some time around 2008.

Shaan Puri: 18 years old.

Sam Parr: Yeah.

Shaan Puri: Okay. All right. So you started the kind of key word.

Sam Parr: Yeah.

Shaan Puri: Key word arbitrage. Because since then, I actually learned this from you. I went to one of your workshops that you and Neville did. And for those who don’t know, Neville, he’s a good buddy of yours-

Sam Parr: Neville’s the best man in my weddings. He is One of my best friends. Yeah.

Shaan Puri: And he’s kind of famous for this copywriting course, right? So talk a little bit about that because I think this is something that’s extremely underrated. I added it to my arsenal when I saw you doing it.

Sam Parr: Copywriting is the most important skillset anyone can have because copywriting is not writing. Copywriting is understanding how other people think and feel and how to use words to get them to do what you want them to do. Specifically the written word, but it can translate to anything.

Shaan Puri: Right. Copywriting writing is sales, copywriting is persuasion copywriting is-

Sam Parr: It’s meeting a girlfriend. It’s talking to a friend and trying to let them know that you care about them. It’s, it’s try to sell something. It’s just the idea of understanding other people’s perspective and then trying to figure out if you could solve that or empathize with that and communicating that you have the tool to fix their problem.

Shaan Puri: Okay, so perfect example, the first business that I knew that you did, I didn’t know about the YouTube street fights, I didn’t know about the eBay stuff, but I did know about the hot dog stand.

Sam Parr: Yeah. Southern Sam’s-

Shaan Puri: The name of the hot dog stands not just Southern Sam’s what’s the slogan?

Sam Parr: At Southern Sam’s the Wiener’s as big as a baby’s arm. So a hot dog is a commodity, they pretty much are all the same.Little variants, but I bought them Vienna sausages, which a lot of people buy, and it was like, how do you just stick out? How do you stand out? And I thought that would be a funny slogan. And the idea was if a parent put their baby’s arms on one of my buns and we put a mustard on it and we’d take a photo they get a free thing, a free sausage. And that was like the stick.

Shaan Puri: Was this pre-social media.

Sam Parr: This was in 2010 to 2012, so it was around, but Instagram was around, it was barely around.

Shaan Puri: So we got a Southern Sam’s Wiener’s as big as your baby’s arm.

Sam Parr: Yeah.

Shaan Puri: The best name. I started a restaurant too, but it was nowhere near this sort of the fame or appeal. Is that… I love that. How did it do?

Sam Parr: So I just tweeted about this today actually, because someone would ask me if I had to make money today with $1,000. I started it with $500. I was only able to afford the first day’s ingredients, and the first day did okay. But it took me about a week to get $1,000 a day with like 50% margins. Most days I would make between 100 and 500 days. If I would go and work all night or go to a concert, I could make $1000 to $5,000 a night. It was really hard work in Nashville in the summer it’s 110 degrees some days it was horrible. It was really hard but it was really fun. But it paid I got paid.

Shaan Puri: And you were the one Manning the stand?

Sam Parr: For a long time and in the beginning I was there all the time but then I hired friends. My friend Carly, my friend Rodel, I would give them an hourly, like a minimum wage.

Shaan Puri: I was thinking on way over here. I was like, what should I say in the intro? And I was thinking, I was like, “Oh, well what do I really believe?” Because when I started doing this podcast, the beginning I would do like a radio host intro which is not me. It’s me playing like a radio host. Like, “Hey ladies, gentleman, welcome to the show doing great and fantastic-“

Sam Parr: Yeah doing what you think you should do.

Shaan Puri: And now I’m like, “Well, what would I actually say about you?” If I was just to explaining this to myself, what would I say? And I was like, the thing about you is if this was Lord of the Flies, I haven’t even read the book, but I understand the premise. We all get dropped on an Island and sort of we’re all starting from scratch just us and our bare hands. If you took everybody I know in San Francisco, a lot of great entrepreneurs, investors, successful people. But if you put us all on an island, and it was like, “Here’s a race to $10,000.” I think you’d win.

Sam Parr: Oh, thanks.

Shaan Puri: I think you would win the thousand dollar Lord of the Flies, Silicon Valley edition. And the hot dog stand is like the perfect example of this, which is just like very straightforward fundamental thinking. I have this much money, I wanna get my money back quick. What do people want? What do people need? Where should I stand? Or I should go to the concert, that’s where people are drinking and want a bite to eat. And just doing the basics and not trying to be sort of the genius inventor. Is that a good characterization? That’s my mental model of use. Is that how you see it too.

Sam Parr: 100%. So I’m from Missouri, I’m from st Louis, Missouri. A lot of people think I grew up as a hick. I kind of did but I grew up in a city. My parents started a fruit stand that eventually became a produce brokerage. My father’s is not educated. I was not that good of a student. I was just like a redneck like kid. Right? And so I just did whatever and I just… I will do whatever. It just so happened that I learned how to use the internet. So I would say I’m basically like a Midwestern small business owner that just learned how to use the internet.

Shaan Puri: Right? The internet is your corner instead of your neighborhood corner.

Sam Parr: Right. Versus like this idea like the Mark Zuckerbergs I will never… I don’t understand how they think a much simpler.

Shaan Puri: Right. And so when you’re doing the hot dog stand, hilarious name, good results, paid the bills for a period of time. At some point you jumped onto the internet because the hotdog stand was more like the kid in Missouri. And the stuff you do today is a lot more like the kid in San Francisco.

Sam Parr: Yeah and so what I was doing in the evenings after selling stuff, I worked for this guy named Mike Wolf. Have I told you this?

Shaan Puri: No.

Sam Parr: Have you seen this TV show? American Pickers?

Shaan Puri: Yeah.

Sam Parr: Mike Wolf was my boss. So when I was in college he was… I love that TV show, American pickers. I saw them walking down the street. I thought he was cool. I was a huge fan and I walked up to get my photo taken with them and I just became friends with them and he asked me to run his store in Nashville or to work there and help set a shop up. And so I did.

Shaan Puri: Okay, hold on, pause. I Went up to him to ask, take a photo with them and I became friends with them. This is the Sam Parr thing that you do and I want the people listening to know how the hell you do it because that’s how we became friends. You literally emailed me being like, “Hey, Shaan heard great things about you.” You’d never heard anything about me.

Sam Parr: I had things.

Shaan Puri: Probably not. We’d never met. But my point is you just reached out cold and you were like, “Hey, I got this big dinner I need a host for like 80 people. Like next week. Can I borrow your office for free? It’s going to have all these awesome speakers. You’re going to love it. You can attend the dinner.” And I was like, “Yeah, sure.” And we became really good friends since then. And so you have this gift of befriending people kind of out of the blue. So tell me what actually happened when you met them on the street.

Sam Parr: I call it the gift of gab. That’s what my parents called the grown up. Let’s see. I had my dog Sid with me. Mike’s a big dog guy. I walked up to him, asked for a photo, he started talking about my dog. I go, “Oh yeah, thank you.” Like yada yada dog stuff. And I’m like, “By the way, what are you doing here?” “Oh, I’m opening up this shop.” Amazing. Who’s gonna run it? I’m still looking. Mike, I’m your guy. I know we just met, but I’m your guy. Let me do this. I would probably set it in that exact tone. And he was like, “Yeah, I don’t know, maybe.” And I just started heckling him and just like joking with them a little bit and he’s like, yeah, okay, well here’s my wife’s number. Call her.

Shaan Puri: Right.

Sam Parr: And so I called her and then I found out that the place that I met him at, it was a jeans store and I like jeans a lot and he was… We used to go to the same store the next day I went into the jeans store and there was a guy who worked there named Matt. And I go, “Matt, Mike Wolf was here the other day, when’s he coming back?” And he goes, “Well, he’s got some clothes that he’s got to pick up tomorrow.” So I go, “Okay, here’s $50. Text me when you think he’s going to come in tomorrow, I’m going to show up.” And so he did that and I just waited on the couch for him. And I go, “Mike, what’s up man? Look, here’s the deal. Let me run this thing or let me help you set it up.” He goes, “All right, find your head.” And that’s how it happened.

Shaan Puri: Right? At that point he’s like, “Okay, it’s going to take more effort to get rid of this kid. Just give him what he wants.”

Sam Parr: Yeah. So that’s kind off how that happened. But anyway, while working there, I met all these amazing people because Mike’s a celebrity and he would get all these cool people coming in. And Kid Rock’s manager or something like that came in and I started just messing around and talking to him. He said that there’s this new law that allows small time distillers in Tennessee to create whiskey in the same way that in the nineties craft beer was allowed to be created. And I was like, “Oh that’s kind of interesting.” And because I worked at Mike Wolf store, I knew that like Americana and Vintage stuff was really popular and Moonshine, Americana, Vintage, all this kind of like-

Shaan Puri: It was a trend shout out to-

Sam Parr: Yes.

Shaan Puri: Shout to[crosstalk 00:14:10]

Sam Parr: So we have the true products and we have what we call trends. But it was like Moonshine was like popular and there’s all these like Moonshiners Shows. And it was basically… Moonshine means illegal whiskey. This whiskey that the Kid Rock’s guy told me about, it’s called Popcorn Sutton’s. It’s illegal. They could sell it in stores but they only would make it in small batches. And so what I did was just I created an online store called Moonshine Online and I would try to get customers from all over, like places that weren’t the South, that weren’t used to this novelty whiskey. And I started selling it online.

Shaan Puri: Wow. And how was it doing? I mean-

Sam Parr: It was awesome.

Shaan Puri: Do I even need to ask you? You just sold alcohol online. Probably did pretty well.

Sam Parr: Yeah. I mean I would be in like finance class and this is PayPal on… I don’t even know if I had an iPhone, but it would go like[inaudible 00:14:52] And I said to my finance teacher I’m like, “I just made $1,000 while I was sitting here in class. Like what do I do?”

Shaan Puri: Right.

Sam Parr: And so it was good. It was making-

Shaan Puri: What did they say?

Sam Parr: He was like, “You need to talk to a lawyer because I don’t know what you’re doing is legal.” So I talked to a lawyer and they’re like, “Yeah, you’re kind of breaking some laws here.” So, the Moonshine Online didn’t last long.

Shaan Puri: Okay. So the Blackberry with PayPal installed had to go quiet for a bit.

Sam Parr: Yeah. And so he was like, “Yeah, you got to jump through all these hoops.” And I said, “Okay, I don’t know if I want to do that.” But I Googled like where in the country do internet companies live. And online it said San Francisco. So I emailed the founders of Airbnb, I asked for a job. They said, “Can you come to our office next week?” I was like, “Yeah, I’m here already.” And so I bought a ticket and flew out here. I interviewed there but while I was here, I met a really cool guy named John Havel and he had started a business because I stayed on his Airbnb. That’s how I met him.

Shaan Puri: Got you.

Sam Parr: And I was like, “This is so cool. There’s people my age doing cool stuff. I’m coming out here.” I went back home a few days later, sold the limited possessions that I had, left school and I moved out here and we started Bunk, a roommate matching app that was sold after 10 months for a tiny amount of money. And then I started my current company.

Shaan Puri: How important was it to get out here? Like what happens if you don’t move? Is it just a lot of people right now.

Sam Parr: Nothing would have happened.

Shaan Puri: Nothing would have happened differently or nothing would have happened at all.

Sam Parr: I would not be where I am.

Shaan Puri: What would you be doing?

Sam Parr: Working at a hotdog stands or started a lawn company or-

Shaan Puri: Was it obvious to you and others at the time, like when you were saying, “Hey, I’m going to go out to San Francisco, it seems like that’s where the internet[crosstalk 00:16:37]”

Sam Parr: It was not. I told my mom about Airbnb and at the time 300 people or 200 people worked there so it wasn’t like small, but it wasn’t well known. And she was like, “Is this a scam? What is this Airbnb thing? You stay at other people’s homes.” I was like, “Yeah, there’s other company called Uber cab and it’s kind of like that, but like with cars.” And she’s like, “What are you talking about? Do they offer health insurance? That’s all I care about.” And I was like, “I’m doing this guys. I’m doing this.” I sold my car, that gave me $5,000 and then they gave me $1,000 to… It was like my… I hadn’t graduated college yet, but it was like my graduation gift. And they go, “All right, we’ll help you do it.” And they gave me a grand and I moved out here. And so they supported me but they didn’t know what I was getting into.

Shaan Puri: You don’t even know this. Our stories are so very different. But there’s like parallel tracks. Everything you’re saying. I literally had a moment like that in my life. It’s for another day because I want to… This is your story, but-

Sam Parr: Having [crosstalk 00:17:34]supportive parents is like a really unfair advantage.

Shaan Puri: Absolutely. And also having a level of like, you got to have a little fuck it in your system and you had enough fuck it to say, “All right, I’m just going to go out there. I don’t know. I don’t have the whole thing figured out. I’m going to go and I’m going to it out. I know enough that that’s where I need to be.” Tony Robins has this really good phrase I like which she says, “Proximity is power.” Which is just like if you know nothing else, just get close-

Sam Parr: That’s cool.

Shaan Puri: …to the stuff you like. Get close to the people you like, just hang with them more. The proximity has its own power. Go to the place you want, just be near it. Proximity is power and I’ve seen that play out many times myself. Your story reminds me of that.

Sam Parr: Well the thing is that you and I both have a lot of buddies that are really wealthy. Their children probably aren’t going to be willing to take a lot of risks because when you grow up wealthy you kind of know what there is to lose and all this stuff. But the way I grew up, I was a little bit of a wild man and like sometimes I would get kicked out of my house and I would literally sleep outside.

Shaan Puri: Yeah.

Sam Parr: So it’s like the worst case scenario is like I just sleep outside. It’s like this is no big deal. Or the worst case scenario is I go and like sell bottled water in the corner. Like I can make it work. Like the downside is really, really low. Or the worst case is I call my mom and be like, “Hey, I don’t ever want you to support me, but like can you give me like $300 I can get… I can just come stay in my room.”

Shaan Puri: Yeah. There’s a get out of jail free card. Did you ever… I remember when I was doing my very first startup, I was living in Colorado. Kind of a similar situation. I won’t do the whole backstory, but I got into a spot where we had won 30 grand of just prize money because I would just go pitch in these business plan competitions. I was good at pitching and so I’d just win the business by a competition. So we rolled up 30 grand in like a month of prize money. And then my dad was also like, “Okay, if you’re going to do this, not going to go to med school,” I took the MCAT, he said, “If you’re not going to go, let’s take some of that tuition.” And he gave me like I remember it was a 20 grand or something like that and he’s like, “That’s going to last you the year.” So I got 30 grand from this, 20 grand for this and there’s me and two co-founders-

Sam Parr: That’s like such a good dad.

Shaan Puri: Oh yeah. It was huge. And he was not even trying to be helpful. He was like, you’ve been so lazy your whole life that like I finally see you switched on. I think this is a terrible idea. You’re doing a sushi restaurant. That’s a terrible idea-

Sam Parr: But it’s your tuition.

Shaan Puri: But yeah. But you’re actually waking up and doing something every day without anyone telling you to do it. And he gave me this line that’s, “In life it’s a lot more about motion than it is direction.” So imagine you’re on a beach and you want to get to this Island. The Island is where all the fantasies come true. And if you could see the Island, you would say, “That’s the direction I need to go.” Problem is from where you’re standing, you can’t see where the Island is. You just think this Island exists.

Sam Parr: So just got to move.

Shaan Puri: So you’ve got to get in the boat and start paddling. And then as you go, you’ll realize, “Hey, actually I see it. It’s over there.” And its like it’s much easier to move a boat when you actually have some momentum. You can just put your paddle in the water and you’ll actually turn and you’ll start going in the new direction. And that’s literally what happened to my life. So I give them credit for that. But I remember we were living pretty frugally.

Sam Parr: Frugal. You were frugal.

Shaan Puri: We were frugal and you are Mr. frugal.

Sam Parr: I am.

Shaan Puri: And so I want to get into that. I remember one time, the way we were living, it was like kind of embarrassing. It was three of us in a one bedroom apartment in Colorado and every everything we would need we would buy and return. So it’s like, “Hey, we need a camera for this photo shoots. Take our many pictures” [crosstalk 00:20:42] I can still tell you, yeah, it’s like best buy 14 day policy but you don’t need this so we would go buy this DSLR camera and return it 14 days later, 10 times. And I remember we would sleep on air mattresses and we knew that Target had a 90 day return policy on air mattresses. So I remember going and returning my air mattress so embarrassing of like, “Damn I’m this poor that I’m just like-“

Sam Parr: Were your parents poor or they’re frugal.

Shaan Puri: We were like middle-class.

Sam Parr: Just normal.

Shaan Puri: It was just that I couldn’t go to them with an ask. Because when you go with an ask, you got to have a little… It’s like going to a bank. It’s like you got to have a down payment of some kind of success or momentum.

Sam Parr: I feel you.

Shaan Puri: At this point I didn’t feel like I had my down payment of I know what I’m doing. Look, it’s working. Just give me a little money. This was like, “Hey, I’m taking a leap of faith. You already gave me a little money. I need to stretch that dollar because I don’t know if there is another dollar after this.” Did you have any sort of… When you were living frugal, did you have any moments like that that were the sort of?

Sam Parr: No. I grew up kind of poor. Then my parents started a thing that made a pretty good living for them and they paid my high school tuition and I got a car that was $5,000 an F-150 truck, but it’s not like I was pulled up from my bootstraps, like from nothing.

Shaan Puri: Right.

Sam Parr: But I’ve never… The thousand dollar gift that I got from graduating college was the most money that they’ve ever, that I’ve ever asked.

Shaan Puri: [inaudible 00:22:02]

Sam Parr: Yeah. And that to me was like, “A thousand dollars” Yeah. And then they gave me like a credit card that had like a $500 limit on it. They’re like, “Here’s this for emergencies.” And I remember I cut it up right when I got here. I was like, “I’m doing this. I was like, I’m going on this…” I was like, “I’m literally going to be homeless before I ever asked for help.”

Shaan Puri: And so you lived pretty like a Spartan lifestyle for a while when you were starting up the hustle.

Sam Parr: I loved it.

Shaan Puri: Tell us about that because I think people got to know what sometimes what it takes. Sometimes you don’t have to sacrifice, but there are sometimes situations where before it builds up and gets big you got to live that sportan lifestyle. Tell us about that.

Sam Parr: Yeah. So I do well now, and people are like, it’s only been… Our company just turned three years old the other day. There’s only been three years and you’re doing good. And I was like, “Well, I’ve been grinding since like taking risks, since like 16, 17, 18, and up until a few years ago, I didn’t have any money.” And so for the longest time in San Francisco, I had a $600 rent maybe. And I did that because I was able to scrape together some money after selling something. And I rented a four bedroom house. I furnished the whole place, but used the free furniture on Craigslist. And then I rented it out to people. Like the other three bedrooms and that ultimately paid for my rent, which means that on just living expenses, I was able to only spend about a grand a month. And so because of that, the first couple of years, my [inaudible 00:23:28] two income was only about $15,000.

Shaan Puri: And so that was the first couple of years of The Hustle.

Sam Parr: Yeah.

Shaan Puri: And then let’s give people a sense of the numbers today, you don’t have to say the specifics, but what should we be thinking about when we think… How’s The Hustle doing? How are you doing?

Sam Parr: Our business is very profitable. It makes eight figures in revenue. Really fat margins. My goal is to get it to 100 million in revenue by 2025, and I think we’ll get there. So it potentially may not be Uber, but it will be a nice size business. It’ll be a hundred million dollar business. Companies like ours could probably sell for in the huge number, the huge range of 20 to $60 million dollars. And we haven’t taken any venture capital.

Shaan Puri: Right.

Sam Parr: So-

Shaan Puri: You raised money but you raised it sort of from the Rolodex in a way.

Sam Parr: Yeah, but they weren’t in the Rolodex at the time. Tim Ferris was like, “Look on the block from me.” And I became friends with them that way. So he ended up investing. The founders of Bleacher Report, the founders of NerdWallet and loads of other people just like that. Like 36 people, Scott Belsky, one of the early Uber guys, loads of people like that all collectively put in some between 20 and $100,000 from each Southie, and collectively we raised about a million dollars.

Shaan Puri: And then you also raised from the community.

Sam Parr: Yeah. So what we did, The Hustle started as a conference. A conference with a newsletter and I realized the newsletter could be a way bigger business, but then I realized the newsletter could actually lead to an even bigger business. But in the meantime, let’s use this newsletter to make profits. And once we hit 200,000 users, we said, “We always got emails of people wanting to invest.” And we go, “Let’s just let anyone invest.” And so I thought that we would get $150,000 in 90 days. We ended up getting close to $350,000 in 48hours.

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Sam Parr: And so we raised a little bit of money from our users as well. Looking back, logistically speaking, I didn’t need any of that money.

Shaan Puri: Right.

Sam Parr: We’ve always been profitable. It’s huge cash flows. But Tim Fares gave me money. Now he’s my friend and I could text him and ask for advice and that’s kind of like a cool trade off.

Shaan Puri: Right. And with the community money, was that worth it? Because most people don’t do that. And cause there’s some-

Sam Parr: Looking back, no.

Shaan Puri: …issues.

Sam Parr: It was not worth it.

Shaan Puri: Why do you say that?

Sam Parr: I have grown to be much more private than I was in the past and I hate having people that know my business.

Shaan Puri: Got you. And just a second on the origin of the Hustle and the Hustle Con, the conference really because it started as a conference before it was a newsletter.

Sam Parr: Yeah.

Shaan Puri: And it started before you somebody[crosstalk 00:26:38]

Sam Parr: Yeah. So I randomly met Eric Bond and Elizabeth Yen and this folks are successful entrepreneurs. Eric had a business called Beat the GMAT that he sold for I don’t know how much, but if I had a guess, eight figures, Elizabeth Yin had another business called LaunchBit that had a nice exit. And so I met a guy who introduced me to them and we just became friends and I had like a really small exit in 2012 or 13. And I emailed Eric, I go, “What do I do now?” And he said, “I got this thing I put on, I put on this thing called Hustle Con. It was kind of like a conference, but in reality it was like a meetup and like a hundred people came. It made like $4,000 I forget some number like that. It’s just basically a website and an email list of two or 300 people. Do you want it? Just do something with it and give me like 10% of the profit.” I said, “In.”

Sam Parr: So I relaunched Hustle Con on June 1st of 2014 hosted that conference six weeks later and it made like 60,000. And the whole idea behind it was, I’m not trying to make money, I’m just trying to meet interesting people. And so I would code email all of these speakers and I would say like, “Hey, do you want to speak? These other 15 speakers are coming.” And of course, they hadn’t. They weren’t coming and they would say, “Yes.” And then I’ll go to the other 15 I’d be like, Hey, I’ll just do the same stick with them. And they all started coming in and then I became friends with them and they would teach me stuff and I would learn stuff just hanging out with them. I’d be like, “Oh yeah, I need to come by your office so we could talk about the talk.” But talking about the talk for 10 minutes and the next 50 minutes I just would ask them questions.

Sam Parr: And so I hosted this event and the way in which I made it popular was by doing email marketing. And I knew that email marketing was effective because of just like studying it and teaching myself how to be a copywriter. And so that first event and six weeks made about 60,000 and I only spent eight grand or some low number like that on the event. So I was like, “Oh, that’s cool.” So took that money and actually for six months I drove my motorcycle around the country and camped and hung out. And then during that trip I was like, “Let’s do this again.” This time was 80 days. That’s when I met, I think. Yeah, that’s when I met you. That event did about quarter of a million in revenue on 30,000 or 20,000 in expenses. And then it was like, “Okay, this is cool, but I don’t want to run to a conference forever.”

Sam Parr: I had just read the biography of Ted Turner, the guy who started CNN and I was like, that guy is Southern. I’m kind of Southern. He like is kind of wild like I am. I could do that. I’m already doing that kind off. I could start a media company. And so that’s when we said let’s do a media company. And then the first six months of The Hustle, which started in 2015 it was just a blog.

Shaan Puri: Yeah. I remember that. You were just telling really great stories, but it was like long form.

Sam Parr: Long form blog stuff. And I would just blog about like funny stuff or interesting stuff like taking LSD or living on Soylent for 30 days.

Shaan Puri: Right.

Sam Parr: Just stuff like that. And it got loads of traffic, but it was clear that wouldn’t be a huge business. So we relaunched on April 19th of 2016 so that’s why I say we’re about three years old and that’s when we decided let’s go all in on email, let’s build this whole thing on email. And then it became very clear that if you study the history of Groupon, of Daily Candy, of Thrillist, people may not even know what the last two are. But anyway, I was like, “Man, something it’s like billion dollar companies all started with an email list. Like let’s do that, let’s build up this huge email list and then start creating more products and use that as a distribution channel. And I think we could build a billion dollar company that way.” And that was the idea.

Shaan Puri: And I remember pretty early on there was a temptation from not even really, you didn’t seem tempted, but other people were attempted to say, “Jump on Facebook, jump on video, jump on Snapchat.”

Sam Parr: I knew from day one, that’d be a horrible idea. It’s like I have always wanted to be independent and I felt that building an audience on the back of Facebook was like building a business in a rented apartment where the landlord raises the price every quarter. That’s a horrible idea. And so I called my email list, My Pirate Ship, and every subscriber was a little bit of wind in our sails. Because like I said, I’m kind of a simpleton, I’m a simple guy. And if you look at like the economics of building something on Facebook or someone else’s platform, you’re like, “So where’s the profit come from?” Well, if you do this… I don’t understand that doesn’t really make sense.

Shaan Puri: Too fancy for me.

Sam Parr: Yeah. Like that does not make sense to me. And I don’t want to do that. And so we didn’t.

Shaan Puri: And I think that’s paid off because now you have… This got to be one of the biggest daily emails in the world.

Sam Parr: Yeah, I think so. I think we got to be up there. I only know of maybe two or three people that can compete.

Shaan Puri: And who’s that? Who can compete?

Sam Parr: There’s theSkimm. I mean they claimed to have six or seven or 8 million. They’re pretty big. And then there’s maybe a handful of one off things that aren’t confirmed that, but I would guess.

Shaan Puri: And when you were doing this and it started to make money, that was also pretty counterintuitive. Unless you really knew the email game-

Sam Parr: Which I didn’t. By the way, I do nothing. Like up until like… I didn’t know anything. I didn’t know what like basic words or like an RFP or… Man I knew nothing.

Shaan Puri: Right.

Sam Parr: I didn’t know what CPM meant. I didn’t know how like I was doing our accounting, I didn’t know the difference between cash flow and revenue. Like I didn’t know anything.

Shaan Puri: And do you know things now or you just hired people who know things?

Sam Parr: I know a lot of things. Yeah. Yeah, I do. I know how to read a balance sheet and do a P and L statement. I know how to make money. I just don’t know how the A-hub, I don’t know how to code. I cannot code at all. And have a tech team, a nice sized tech team, and we built our own custom technology. I’m really good at being like, what’s the simplest solution? Like what niche should exist? Then I’m like, “Hey guys, can you like… It would be cool if this existed, do you know how to make that happen?”

Sam Parr: And they would just say, “Yeah. I’m like, all right, great. Show me in a week and let’s see.”

Shaan Puri: Right, and what was the first milestone where you were like, “Holy shit, this thing is actually not just, it’s working, but this thing’s actually going to be really big.”

Sam Parr: Well, the first week of our existence, we got a million people coming to the website and I was like, “That’s awesome. That is great.” And we got on the front page of Reddit and we had like two or 3000 concurrent users on real time analytics, Google analytics. I was like, “Sick. That’s awesome.”

Shaan Puri: How good is it to watch the real time-

Sam Parr: It’s addicting. It’s addicting. It’s hugely addicting. And then I was like, “This cannot be big.” I thought that, and someone wants told me a big CEO of a huge media company that you know of told me, “This business will never make more than $2 million a year.” We could do that in a month now.

Shaan Puri: And what was that person wrong about? What didn’t they get?

Sam Parr: They were a New York media person who was kind of fancy and they didn’t… They’re like email is such a small thing. Like an email newsletter, a newsletter… Like you don’t even have a website. There’s no way advertisers are gonna want that. And I’m like, “Well, but if you think about it, if you just look at how much they’re going to pay per click on all these other platforms, who cares if it’s on your email or on a website or like does it matter as long as they get like traffic to their stuff, who cares?” And it’s like, “Well, it doesn’t work like that.” I was like, “Okay, well.” And so I kind of believed them. I didn’t think that it would work. And then once we started growing and I was like, “Oh, this is crazy.”

Sam Parr: And then it wasn’t until like six months ago where I was like, “Man, there’s like a path to make, like literally $100 million a year in revenue on this.” I kind of knew a little bit that it could be big, DailyCandy, the company that I model this after early on, they claimed to have 25 million in revenue and 10 million in net income a year. So I was like, “Well, if we just do that, that might happen.”

Shaan Puri: They’re still around. They’re doing well.

Sam Parr: They sold for 125 million to Comcast and Comcast screwed it up and shut them down.

Shaan Puri: Got you. Okay. And so let’s play a little game called remake My first million. If you had to remake a million bucks, I take away your business as it is today. You can’t do that again. That is this exact business you can’t do it again. You’re 21 years old though. So I’ll give you back that youthful energy and time. What would you work on? What would you try to do? Let’s say you don’t have capital, you don’t have network, you don’t have a lot of those pieces, you are you but 21. What would you do again or what would you do differently this time?

Sam Parr: If I was 21, 22 I would try to get a quick win and try to get like a couple of hundred thousand or maybe a million dollars in my bank by like starting a business that made a hundred grand a month and try to sell it and own all of it and I think that that is significantly more possible than most people think.

Shaan Puri: So I’m 21. I’m listening to this. I say, “All right, that sounds pretty good. Be more specific.” What do you mean what sort of ideas could do that?

Sam Parr: If they’re 21 today, start blogging and when I say start blogging, I would say learn one new interesting thing each week and then just blog about what you learned. Do that every single day, every week for a year. Try to get two to 3000 people a day coming to your site through search. The way you find out what to write about is you go to harefs.com and you buy a subscription and that will teach you what to write. Because they will tell you what people are searching for. Try to rank for those words, build up an email list of 5,000 people and then create a course and sell it to them.

Shaan Puri: I like it. And I liked the looking up the keywords. It’s like having the answers to the test. It’s like here’s what people want to know.

Sam Parr: Yeah, just answer it.

Shaan Puri: Just answer it.

Sam Parr: And answer it by learning on your own. And then just teaching people what you learn.

Shaan Puri: There’s two ways to teach or to create content. One is to be the expert and the other way is to be the curious novice. And so-

Sam Parr: The second one, 100% works.

Shaan Puri: Right. A lot of people cut themselves out because they just assume I’m not the expert, but in reality the curious[crosstalk 00:35:38]

Sam Parr: You only need to be one step above. Yeah. You just got to be one step in front of your audience and that one step could be, you just read a book over the weekend. So if I was a 21 year old kid, what I would do is go on Yelp, pick a very specific niche like irrigation services, scaffolding rental, lawn cutting service, pick some niche in a town like Nashville, Denver, something like that and try to start a business that beats all the other people on Yelp. I’m quite obsessed with the idea of consolidating local businesses. So boring stuff, right?

Shaan Puri: Well it’s not boring. It’s like people don’t like to hear the obvious and because almost the obvious is always the basics.

Sam Parr: Dude because people are super fancy man. Like me and Ramon, him and I have started or funded like five or six companies that collectively make $10 million or something like that. And it’s like the most simple shit on earth. And if I told you that this company makes this much money, you’d be like, “What? That is so stupid.” Ramon owns this one that I participate on a little bit as well that sells dog ramps.

Shaan Puri: What a dog ramp?

Sam Parr: A dog ramp is when you have a dachshund or what kind of a dog do you have like a Chihuahua?

Shaan Puri: I have a multipoo he said it’s for Wiener dogs.

Sam Parr: Yeah, that’s a dachshund.

Shaan Puri: Okay. That’s the fancy word for it.

Sam Parr: Sausage stock. Wiener dog. When you have these small dogs and they want to get on your bed, they can’t get up. So it’s just like [inaudible 00:36:57] is a piece of wood and it flips up. So like a lay up like a miniature handicap ramp and your dog can get up there. And that makes sometimes tens of thousands of dollars a day.

Shaan Puri: Why are people scared of these businesses? Or did they just assume it can’t be or [inaudible 00:37:11]

Sam Parr: Here’s why. I think about this all the time because I struggle with my team. They don’t understand leverage. So they think that in order to make, let’s say, a million dollars, you have to work an equivalent amount of hours that in their head they think is a million dollars or you have to have an idea that is the equivalent of a million dollar idea. When in reality you could just have really good execution, which is not tied to the amount of time and what you spend on something. You could have pretty good execution, like 100% effort for a short amount of time. And that if you leverage it correctly, it creates significant amounts of value. And so they overthink stuff. Also, I think they feel guilty. It’s like-

Shaan Puri: Guilty how?

Sam Parr: Like the way I compare it as like when your mom makes a peanut butter and jelly sandwich, it always tastes better than when you do it because you see also how simple it is. You’re like, “Oh, this isn’t that like I, yeah, this is like, it’s gotta be way better.” Like the other people must do it way different because this isn’t that like, let’s keep you that easy. Can it? And that’s kinda like the idea and people like overthink stuff. I also think that we hang out with a lot of high IQ people and I think the smarter you are, the more disadvantaged you are at some of these-

Shaan Puri: At making money.

Sam Parr: … like simple things. And it’s also fear. People are afraid.

Shaan Puri: PB&J businesses can be great businesses if you apply leverage. And that’s sort of the difference where your same hot dog stand idea could have been a big business if you’re just had applied more leverage, more stands, more locations.

Sam Parr: Yeah.

Shaan Puri: Franchised it out-

Sam Parr: And the way you create leverage is like you just have to like set things up in a very particular way. So like you just hire key people or you use the internet and you realize, well I can do the same thing but I just put two zeros on the back of my ad spend. It’s like, “Wow, I’m not doing any extra effort but I’m getting like 10 times the amount of money.” And that-

Shaan Puri: I think you had a business that you bought a SaaS company. For those who don’t know subscription company-

Sam Parr: Yeah, so Ramon and I also own a SaaS company. It’s like a $30,000 a month SaaS business.

Shaan Puri: And all you did was raise the prices, is that correct?

Sam Parr: Yeah. All we did so far was just went in and changed a three to like a six and that was it. That’s all we did.

Shaan Puri: You’re like, I can’t code, but even I know how to do this.

Sam Parr: Yeah. Most people don’t price their stuff effectively. We bought a company, literally all that was done was double the price and revenue doubled. Same amount of people sign up every day is super simple.

Shaan Puri: I love it. This is why I call you the Lord of the Flies man. You would find the way to make the money.

Sam Parr: And what I would like to do is buy more software companies and 10X the price. I think that that’s possible as well.

Shaan Puri: So you have all these experiments in your head, but one experiment you guys just launched is Trends and I want to hear about it because I like Trends but I don’t fully get Trends.

Sam Parr: Yeah.

Shaan Puri: So tell me about it.

Sam Parr: A lot of people who haven’t experienced it I don’t think are going to get it yeah. And that’s because we aren’t-

Shaan Puri: So what is it?

Sam Parr: Yeah. So basically the idea is it’s a premium publication, a paid publication, a paid weekly email. And we have hired a team of analysts as well as myself and we crawl the web and look at millions of bits data and we also talk to people like you and other experts and we just explore various industries and we do deconstructing of various businesses and we just show like where are cool opportunities and where’s the white space in loads of different industries.

Shaan Puri: So it’s if I’m somebody who is looking for my next opportunity or my next idea-

Sam Parr: Yeah, the way that we explain it is like, look, if you start a company you can make it win. Or at least be mildly successful without enough effort. Like you could probably… If you are like I want to spend 20 years on something, you could probably get a little bit of success out of it. But if you start something on a small ripple that can eventually become a wave or a tsunami, like it’s just kind of, the products will get pulled out of you. Like it’s just going to push you down this hill and it’s good. Life will be a lot better. So it’s just like, let’s explore some of these waves while they’re still kind of small and what they’re doing.

Shaan Puri: Got you.

Sam Parr: So you guys are trend spotting early these business opportunities as well as looking at interesting companies and saying like, “Well here’s how they work. What if you applied that to this thing?” So like we interviewed the guy who started 1-800-GOT-JUNK, Brian and he said, “Yeah, 1-800-GOT-JUNK here’s how it works. Here’s the economics.”

Sam Parr: I’m like, “Oh, that’s amazing. We’re like, where else can this work?” And he goes, “Local irrigation services” and we go, “Awesome.”

Shaan Puri: Thank you.

Sam Parr: We went and interviewed a bunch of people and we got the data and we chose, all right, “This is like a cool idea.”

Shaan Puri: Nice. And so if Trends works, The Hustle becomes this thing that has got the daily newsletter to tell you what’s going on, you’ve got Trends, which tells you about the big opportunities that are coming.

Sam Parr: I’m trying to steal SoftBank’s playbook. So in the late eighties, early nineties, Masa Son, he started what was called basically the PC magazine of Japan. He started a publication Jirden conference.

Shaan Puri: And that’s a good example, right? PC’s was the wave. He started the magazine[crosstalk 00:41:49]

Sam Parr: Started the magazine, then he started the conference, which is now called CES and then-

Shaan Puri: He created CES?

Sam Parr: He bought it. He bought it with the profits from the publication and then he was also selling software and then he started investing in the companies that he saw that were advertising with them. So I just wanna do that same thing cause I think like working at SoftBank would be a really cool job.

Shaan Puri: Nice. Going after SoftBank. You picked the big blue whale.

Sam Parr: It seems like you see his life, you are like, “Aw man, he gets to hang out with cool people. He gets to invest his money like… Let’s just do that.”

Shaan Puri: Yeah, that’s pretty good. Okay. So when you think about when somebody is listening to this podcast, let’s talk about the podcast for a second. Because this is a new product essentially that is being published on The Hustle by The Hustle.

Sam Parr: Yeah. Hopefully there’s a 100,000 people listening to this right now that came from our email list.

Shaan Puri: If you’re listening to this and you’re one of the 100,000, just tweet @Samson so that he knows you’re listening. All right, so why do a podcast, I guess why didn’t you do a podcast earlier is a better question.

Sam Parr: Because I didn’t know anyone that could do it well and you and I shoot the shit all the time. You’re very successful, you’re amazing at asking certain questions. You’re also amazing at like saying these weird phrases like when you’re just talking about your father and talking about like motion versus direction. And so when you said you’re going to do a podcast, I was like, “Oh, let’s see if we could partner with him. And we got to do that.” I also think that podcasts in general are a horrible business if that’s your only stream of revenue, but since we have all this other stuff, it’s like, “Yeah, let’s do that.”

Shaan Puri: Yeah. It’s just sort of it’s found money on top of the existing audience that we have today.

Sam Parr: Yeah.

Shaan Puri: And I think that the good thing about what you guys do is that I think you guys capture just a fraction of the value you create. So giving people the news every morning in a super simple, digestible way, and then you capture it. It’s free for them and you capture just a tiny amount of that value on average.

Sam Parr: Yeah. So at Trends, we’re going to be capturing a little bit more and this is now another component that we can actually give for free and capture a little bit of the value and hopefully people will sign up for maybe 3% of people listening will sign up for our paid services.

Shaan Puri: Got you. Okay, cool. And so I want for close it out, I want to do bonus segment about money.

Sam Parr: Money.

Shaan Puri: Okay. This is the money round. I’m going to ask you a bunch of questions related to money and you’re going to tell us about them. How much money were you making at age 21-25 and I usually say 30 but you’re 29. So we’ll do 29 so 21, 25, 29?

Sam Parr: 21 I joined a company after we had a little exit. My salary was $50,000 to $60,000 a year with a bonus that was nice sized. I was able to save $25,000 with that salary in San Francisco.

Shaan Puri: You saved 25,000 on a 50,000 salary? 50,000-60,000 salary plus bonus?

Sam Parr: Yeah. Plus bonuses. I think my bonuses maybe came out to be like 80 grand, like total compensation.

Shaan Puri: Okay. Got you. That’s good. In 25?

Sam Parr: Lower because I started the company when I was 25. The Conference made 60 grand about 50 grand in profit. The second conference made some number of around $200,000 in profit. That all stay in the business other than a draw I did of $2,000 a month.

Shaan Puri: And then 29 your company’s doing really well now. What do you pay yourself?

Sam Parr: I pay myself six figures. I pay myself somewhere in between six and seven figures below seven figures above six figures. I didn’t pay myself six figures from the company until last year. For a long time it was a ramped up from like 40 to 60 to a hundred and then I started giving myself meaningful bonuses based off performance. I make more income from my investments, so selling other businesses, rental income, things like that, I make more money that way.

Shaan Puri: And so last question. A lot of people have a number in mind. This is the number that they want, the number of where they feel like they’ve hit it, they’ve made it. And the number can move. I think when people hit their number, they make a new number. But right now, what’s your number?

Sam Parr: I think that… An old guy who I love Stuart Alsop, I don’t know if you know him. He’s a good friend, but he’s a big time investor. He was Twitch’s seed investor.

Shaan Puri: Does he like being called an old guy who you love?

Sam Parr: No, but he’s like 70 years old. I just like calling him that. I don’t know. He’s a good guy. He told me that the first unit you make makes life different. And I go, “What’s a unit?” And he goes, “10 million.” He goes, “You get one unit. That’s when life changes.” So one unit where your liquid is a big deal. It goes probably 10 and then a hundred it’s like you’re set forever 10 is like be cool and you’re fine.

Shaan Puri: Right? Don’t go Mike Tyson.

Sam Parr: Yeah.

Shaan Puri: And you’re fine.

Sam Parr: Yeah. 100 is just set, 10 is like life is never going to be the same, but you could still ruin it if you like really do something bad.

Shaan Puri: So that’s your number right now. One unit?

Sam Parr: A unit, liquid. That said, I don’t think I’ll be happier with it. I know I won’t be happier with that. Right. You’re not gonna be happier with $10 million. I don’t think.

Shaan Puri: I think I would be. I think it’s not so much happier. I think happier is kind of the wrong word.

Sam Parr: The money won’t make you happy. It’s the fact that you did it.

Shaan Puri: The fact that I did it as well as the lifestyle. So I think money… I have this thing that money is just stored time. So when I gave you money, I’d like to unlock some of your time to go do something for me. And when you give me money it’s because you want some of my time. And that’s sort of how money works. Money is just time frozen into a piece of paper and when you give it to somebody else thaws out, you get their time.

Shaan Puri: And so the thing… If I had a unit that would make sure that I’m the one unlocking other people’s time, nobody’s really unlocking my time unless I’m choosing to do so.

Sam Parr: Yeah. You can just do that with a lot less money than you think. I choose to work. I could not work. I do it because I like it.

Shaan Puri: As long as it’s a choice. What I’m saying is that most people, and I put myself in this bucket right now, I don’t dictate how I spend every hour of my day. It’s not all my choice. There are several things that are things that I don’t want to be doing with my time. So the day that I can do sort of what I want, when I want, where I want the way I want. That will be sort of the ultimate freedom.

Sam Parr: I agree with you.

Shaan Puri: I don’t have money on [crosstalk 00:48:07]

Sam Parr: It could be lower. It’s a lower number than you think.

Shaan Puri: What’s the number?

Sam Parr: It depends on how much you spend, but like I don’t spend a lot of money. I could say fuck you to everyone bounce and be fine.

Shaan Puri: I’m a spender. That’s the problem.

Sam Parr: Maybe when I hit a hundred grand, I’m like a hundred grand liquid. I was like, “That’s fuck you money.” But I was the one to say, “Fuck you.”

Shaan Puri: Yeah, you live a fuck me lifestyle and you could have fuck you money [inaudible 00:48:28]

Sam Parr: I’m like, yeah, that’s exactly right. If you’re willing to say fuck you, even at 10,000 or 1000 a hundred grand liquid made a difference.

Shaan Puri: Yeah,

Sam Parr: That’s mine. That’s the number I’ll give you a hundred grand liquid made a difference and I was willing to say “Fuck off.”

Shaan Puri: Yeah. You know I like this segment the money round because money’s this weird taboo thing. I remember when you messaged me on Facebook once and you were like, [crosstalk 00:48:52] you just like, “How much do you make?” And I was like we knew each other but like we hadn’t talked about it before.

Sam Parr: No most of these friends, I’m very open. I’ll be like, here’s how much cash I have.

Shaan Puri: Right. And you asked me all these questions and I was like, this is kind of cool because I was like, “At first I just admired the balls of hey just to ask. But the second thing was I was like, this is how we can kind of help each other get ahead as information. Can we unlock some information so that you understand how people are playing this game, because the pie is very, very big. And so the weird thing-

Sam Parr: Its not a zero sum game. A lot of people think that like if I make money, that means I took it from someone. It’s like, no that’s not exactly how it works. Like if I create a piece of art, I didn’t take this from anyone. I just created this valuable thing that someone’s going to give me something for.

Shaan Puri: Right. And even if you are taking money from somebody else, there’s so many players in the game.

Sam Parr: Yeah. As long as they… Yeah. Like we can all win. And so whenever I ask people, it’s never out of jealousy of like, I wish I was lower than, or I wish I was bigger than it. I do wish I am and have more than what I have sometimes, but it’s not of like, I want you to be lower than me. It’s like, “Oh man, what could you teach me?”

Shaan Puri: Right. Yeah. And I’ve learned from you and you’ve learned from me in that regard. So, all right, Sam, where can people find you aside from subscribing to The Hustle?

Sam Parr: Subscribe to The Hustle.

Shaan Puri: The hustle.co.

Sam Parr: Yeah, go to trends.ceo, transect.co sign up.

Shaan Puri: What about you personally? Where do[crosstalk 00:50:11]

Sam Parr: Me personally, don’t email me because I won’t reply more likely than not, but tweet at me and I will reply it. That’s Sam Parr.

Shaan Puri: Awesome. Thanks Sam. So much. Great episode. And we’re going to do a Spartan race tomorrow.

Sam Parr: We’re running eight and a half… I don’t know if we’re going to run or walk at eight and a half miles.

Shaan Puri: Yeah, will get along stroll tomorrow. All right. Good. Good stuff man. Great talking to you.

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