# Your BEST Idea is The One Everybody Says is SH*T | "That Will Never Work" Podcast

## Метаданные

- **Канал:** Gary Vaynerchuk
- **YouTube:** https://www.youtube.com/watch?v=tXQS6hkh5Ns
- **Дата:** 10.03.2021
- **Длительность:** 28:42
- **Просмотры:** 45,022

## Описание

Today’s episode is an interview that I did on the “That Will Never Work Podcast with Marc Randolph”. In this interview, we talk about his career in investing as well as my advice on how to develop an informed business instinct. We discuss our individual decision-making processes and why dwelling on alternative outcomes isn’t going to help you. Enjoy! Let me know what you thought.

Follow Marc Randolph on these platforms:
https://twitter.com/mbrandolph
https://www.linkedin.com/in/marcrandolph
https://www.marcrandolph.com/
https://www.instagram.com/thatwillneverwork

0:00 Intro
0:20 Talking different phases of life
9:60 How to prioritize opportunities
11:50 Do you ever know when to give up?
18:50 Thoughts on people saying "that will never work"
28:00 Outro

—
Thanks for watching!
Check out another series on my channel:
Tea With GaryVee (Fan Q&A Series): https://youtube.com/playlist?list=PLfA33-E9P7FBahSYlSAjOMGsuRPLMWWEO
Overrated Underrated (Hot-takes on Culture): https://youtu.be/TUSNSqA62uI
Gary Vaynerchuk Original Films: https://youtube.com/playlist?list=PLfA33-E9P7FAvnrOcgy4MvIcCXxoyjuku
Trash Talk: https://youtube.com/playlist?list=PLfA33-E9P7FDelN4bXFgtJuczC9HHmm2-
WeeklyVee: https://youtube.com/playlist?list=PLfA33-E9P7FBPjdQcF6uedz9fdk8XKn-b
— 
Gary Vaynerchuk is one of the world’s leading marketing experts, a New York Times bestselling author, and the chairman of VaynerX, a modern day communications company and the active CEO of VaynerMedia, a contemporary global creative and media agency built to drive business outcomes for their partners. He is a highly popular public speaker, and a prolific investor with investments in companies such as Facebook, Twitter, Tumblr, Venmo, Coinbase, Slack, and Uber. Gary is a board/advisory member of Bojangles’ Restaurants, MikMak, Pencils of Promise, and is a longtime Well Member of Charity:Water. He’s also an avid sports card investor and collector. He lives in New York City.

## Содержание

### [0:00](https://www.youtube.com/watch?v=tXQS6hkh5Ns) Intro

well this is a wild question from mark because i would argue that my entire life has been that you got your perspective i just want to be happy don't you

### [0:20](https://www.youtube.com/watch?v=tXQS6hkh5Ns&t=20s) Talking different phases of life

to be happy this is going to be kind of off the rails because my opportunity to speak to gary i'm going to ask things that i'm personally curious about so i kind of have this theory that kind of life has these phases to it and for me kind of phase one was up until i was 30 where i really had no clue what i was about i didn't know what my passion was i didn't know really where i was going and i was really lucky i had this kind of mentor who kind of grabbed me and said you know how old are you i said well i was 29 and he goes oh okay he goes you don't have far to go he goes usually when you hit 30 all of a sudden everything becomes clear and god lo and behold he was right then all of a sudden i could go oh i like what i'm doing i can see a path from here i have family now i have balance and it set up this wonderful period of my life so here's what i was going to bring up is that the second period for me started when i turned 45. uh the next third period really started 45 and 45 was the year that i left netflix 45 was a little bit after the netflix ipo and it was this real boundary for me because i so distinctly remember we were i went to the ipo we were in new york we were up in the merrill lynch trading floor and it was kind of anticlimactic you know there was no bells to ring no confetti just kind of the trading started but it was a significant milestone and i remember leaving the building and i was with my eight-year-old son logan and we had a new york objective because he grew up on california this belongs to me and i go i'm gonna take him to get uh some real new york pizza so we're in the cab and we're heading down from the merrell building downtown to go to a original race or one of like 80 of them now but um i remember thinking i could kind of do whatever i want now and it was a really weird feeling because you think you have all these opportunities but instead it's kind of throws you off balance so since in so many ways you and i have had these similar trajectories and i kind of know we see the world the same way we have these same motivations in some ways some of the same super power and i know that you just hit 45 yes and i'm wondering do you feel that things are changing for you i do and i think things are always changing and to your point i think you know round numbers get people thoughtful i think people think differently around their zero and five birthday you know whether it's 20 or 25 30 35 right um you know for me i as a child spent a lot of time hanging out with grandparents i've been thinking about this a lot lately um i was very gravitated towards you know 70 80 year olds when i was 7 8 9 10. just it was just a thing i was very close to my great grandfather when we first immigrated to america spent a lot of time with him you know at the park when i was three four but i remember it i literally remember it more maybe i was more four four then we moved to jersey i remember like i just and then definitely from like 1982 to 1988 every time a grandparent would come and visit i just always felt this weird association towards them and would always ask them stories history and so i've always felt in a lot of ways that in hindsight as i got older i was like oh i'm an old soul i like wisdom like oh i was such a bad student but history was something i was always really the only bees i had on my report card on regular classes not named jim were in history and even like my current passion in discovering what i think is about to play out with nfts and the whole non-fungible token blockchain a lot of it has to do with psychology and history and ip and all this stuff so things are changing but not from a wisdom standpoint you know i of course i be uh i'll give you something tangible i've come to realize recently called last two three years that my greatest vulnerability as a leader believe it or not because people are confused by this because i'm so candace on interviews and on stage but as an operator i so struggle with delivering bad news believe it or not that i i've struggled with candor and i've created this term for myself kind candor i've come to realize that it's a vulnerability and i want to be better and all of us evolve and we want to be better and kind candor is something that i've stood up recently in my own mind and now even within vayner x my holding company i want people to be able to do that because it leads to entitlement and resentment if you're not deploying candor um but i think what's happening for me is i've always in my mind put a premium on 50 to 60 years old i've always probably since i was about 19 or 20 started having these feelings that 50 to 60 was going to be the money shot and so you know when you're 26 and thinking about 50 to 60 you're like oh my god i have a whole another life to live before i even enter my quote on quote prime but now i'm 45 and i'm like okay i'm about to go into this thing that i've put on a pedestal a thing that's been intuitive to me and i'm excited about it i feel like i'm gearing up and i feel experienced to go along with the raw talent that i was gifted with and um you know i never lacked confidence not because i was audacious but because my confidence came from my conviction of appreciating the process over the results yeah that the plunging in just the uh let's do something and let's see what happens and so um i'm pretty excited about um do you still believe it's the money shot yeah i you know i do feel like it makes sense to me and maybe when i'm 60 i'm like no wait a minute it was 70 days you know like you know but i do think i do think there's a time and a place and a prime and a i do think that you know i think i've always felt that business had more similarities to sport than people realized i think it's not you know i think it's naive not to there's been no athlete that's come along and has been consistently the same athlete for all eight 12 15 years of her or his career there is a prime and uh yeah i get it the thing that i'm trying to curious and you know i'll check in with you in five years and see how it feels is that the uh certainly 10 is going to be more interesting because i'll be in the eye of the storm if you check it with me in five years which i'm happy to do i'm going to be hyped because i'm like here we go there probably is some time in your schedule just about freeing up nine or ten years from now but you know it's i do i spend as you do a ton of time with young people you know people are still in high school college and i'm you know i'm spending a bunch of time with some tick tock people right now who have this huge early fame and it's funny because they are very economically focused i mean to them that's the hurdle and it's you know what you try to say and i never quite know how it's getting through that you'll see that there needs to be more to it than that and that what i think of huge advantage of when we hit 45 and when i hit 45 is you do have all these skills and you go i know i can do business stuff but now i've got to be selective about what i want to apply these skills to what is the business that i want to do what is the non-business how do i want to use it it's a really kind of interesting struggle at least for me of saying hi i think when you're young time is your teammate yes exactly and i think as you get older you know it's really how the brain works when you're seven and you've got to wait to your 10th birthday you've only been on earth for seven years it's half your life ahead of like half the life you lived is what you're anticipating to be double digits but when you get to 45 and one year is a small percent like it goes fast right that's how you get and so i think that's an extremely valid point one of the things i worry about is i live in such abundance that i need to be thoughtful about my time resource yeah and i do feel like i'm vulnerable to that mistake and it is something that runs subconsciously and has now become conscious for me of like hey you value the serendipity and the learning and the curiosity so much you need to be careful here because how many more innings do you have plenty because i'm a guy that's like i'm going for another 45 but you still need to be thoughtful and you never know when the rock hits you in the head and it's over and so you got to be thoughtful but it's also i think that you know i think one of the things that you and i have in common is also a huge curse is that we we see these huge opportunities i mean i know that that's how you're wired it's that almost life arbitrage thing and whether it's

### [10:00](https://www.youtube.com/watch?v=tXQS6hkh5Ns&t=600s) How to prioritize opportunities

being at a garage sale and seeing something i'll go oh my god i can buy that for five bucks and sell it for 20. but i see that all the time not at garage sales but i see that in business opportunities like just like you know with empathy where you go oh my gosh there is this opening for a native and you go [ __ ] i'm just going to create it yeah but the thing is those especially as you get better and get more attuned and get better skills those things accelerate and that's when you go holy [ __ ] i've got to back up a little bit i've got to realize i've got to focus a little bit and kind of pick my battles i literally texted my brother aj today four hours ago three hours ago crippled by opportunity it's tricky it really is tricky and it's so hard i mean and i feel it and i personally feel in all kinds of ways i certainly feel it like you know i'm so lucky now i get all kinds of invitations either to invest or to advise or to be part of things and man it is such a struggle to say no i just it's not because especially when you're an optimist and an entrepreneur yes you're in the yes business i once i once described it to someone as it's like someone it's like walking by on the sidewalk and seeing a little basket full of puppies with no one there and god you can't walk by you've got someone's got to do this and whenever i see an opportunity i go i just want to do it and i want to make it real no matter how unrealistically uh impossible it is it's just a really it's a really tricky fun i mean i'm certainly glad i was gifted with that it certainly has worked out really well for me but boy sometimes i've really got a struggle to uh to control myself yep um i got a related uh or somewhat related one so since we brought up empathy so

### [11:50](https://www.youtube.com/watch?v=tXQS6hkh5Ns&t=710s) Do you ever know when to give up?

probably you the same one of the things i get asked all the time by entrepreneurs is when do i stop how do i know when to give up and i'll save time i never know forget how to answer that but the question is possibly difficult question the answer is nobody on earth knows so i you know i did a company after netflix which was looker data which we tried to sell and i look back um it's such a 2020 hindsight thing and you did it because of this information you have at the time and you look back and go ah we should have wrote it we were on the verge of going public just think what that would have been like not just as a business but as a cultural thing and i'm wondering would you struggle with the same thing with empathy or even before that with uh rezzy you know empathy and rezzy were great exits they're nine figure type deals they were big wins i had partners who were operating i was more in chairman and founder level so i've never really sold a company that i'm navigating day to day they're both family businesses vayner and wine library and so i didn't have any regrets with either because i wasn't the jockey i was the inventor of the horse or a co-inventor but i wasn't the jockey you know i might have been the trainer but i wasn't the jockey and so i don't have those feelings because of that scenario and for everybody who's listening back to trying to provide value you know heaven my dream of heaven is i'll show you all the scenarios because i think that'd be really cool but other than that might make pretend of how i want heaven to be nobody can ever tell you that if you held on to it for another month that x would have happened and there's a and that's cool and then there's a million people who wrote it out for another three years and got gotta i mean you know you and i have run in circles where we know incredible horror stories of people passing on selling their company for 210 million only to have it go out of business or pass and selling it for 44 million only to have it sold for 19. like people always think of it as a one-way street it goes both ways and that's important oh it certainly is especially if you've been certainly like i have in silicon valley for a long time you've seen so many horror stories it gets drilled into you that you don't want to bet your whole life on an uncertain future i mean there's one thing to have confidence take risks but certainly even the biggest risk takers do what they can to hedge the risks one time i was um i worked for a company called borland a big software company a long time ago was crushing it because we were looking like we were going to overtake microsoft if you can imagine how ridiculous an assumption was that back then but i had stock options and they were worth a lot of money and i was in a bar in hong kong with our vp of sales on some sales tour just to put a crazy scenario here and i was going god this stock price it is going great and he goes yeah i hope you're selling and i go selling why would i want to sell it's like it's going up and up and he goes no you are out of your mind he goes you should every time your stock vests sell and he goes you'll always have more coming than you sold and if you're doing a great job they'll keep giving you more but if you don't sell anything your ups your downside is unlimited you could go to zero all you're doing is taking slight caps on your upside and then from that moment that was a long time ago every single chance i get i try and hedge i mean even with looker as that was going up every chance every round we'd sell into the round a little bit just to take a little bit of money off the table and go i have no idea what's going to happen but at least i have something for my efforts it's a there's the other side of it i was early into facebook but not as early as the original 102 employees a lot of those kids sold facebook at 18 and 19 when it hit the floor at 25 to 27. you know that was a mistake you know they were saying you know some of those people were thrilled to get the 10 million dollars the problem is 10 times that is a hundred and so you know there's a lot of ways to play it yeah i think you know i think the real key is you can't you just can't look back you can't worry about this stuff it's unknowable you just got to move on and you go there'll be more uh be more fun yet to come and i think the thing is if you're tr the same people who are always worried about what could have been and i don't want to do this i make the wrong decision to the people who are scared to move forward you know another great thing that you and i kind of have in common is this whole most advancement comes from just starting just doing something stop thinking i love the uh you know you i don't know how many how long ago this was you did that what seven or eight hundred page slide deck about how to do sixty some odd pieces of social media in a day yep and i remember that was it was one line in there or something that goes the thing that gets everyone in trouble is they have this standard of production value correct and so they just spend the whole time tweaking fonts and rather than just [ __ ] putting it out there and then moving on to the next one and that's so much more powerful and god that's something that i've done time and time again is train myself that i'm totally okay with [ __ ] i'm totally okay testing something that has broken links and has bad images you learn nothing from something perfect that never seems like you know i always say you can't read about doing push-ups i have a similar one i go you can't learn to play tennis by watching a video that's it that's exactly right yeah you gotta y'all listen while we're sharing the other one is that basically uh the key to success is being willing to seem like you're a five-year-old which is it's funny you say that i've been really i'm writing a new book and that will be out probably in the winter and curiosity is a very big theme in it yeah i really believe that has helped me quite a bit with curiosity it's not knowing in advance what can't be done and it's being willing to look like an idiot you know i don't know if you know anybody humans speak any languages you got to sound like you're five years old for a couple years and being willing to go into restaurants and say i can't speak i'm going to try and that's how i'm going to learn humility it's a it's a big one too it's uh it's funny i'm very hot on those keep going no it's cool i mean i want to as you probably know i just i'm trying to follow in the garyvee path i have a podcast just when you're

### [18:50](https://www.youtube.com/watch?v=tXQS6hkh5Ns&t=1130s) Thoughts on people saying "that will never work"

going i'm not going to interview for the podcast but i'm going to do a trying to of a podcast and mostly not one where i interview you know really successful entrepreneurs because that's been done and done way better than i could do it but kind of doing much more along the askgaryvee stuff where i work with and mentor people which i've been doing for 15 years and now i'm just recording it but it's called that'll never work and one of the things i was curious about one of my premises is that every single person who does something new hears that you all come rushing in and tell your wife that'll never work you tell your investors that'll never work and i'm just i'm sure you've heard that 100 times and i wonder if there's some of those that really stand out in your mind when someone told you that'll never work and what you were thinking at the time well this is a wild question from mark because i would argue that my entire life has been that i mean my you know i pre i've been innovating my whole career you know i was a bad student so i from day one i was told i would never be anything by the establishment outside of my mom you know so that was good because it made me not scared right you know like by the time i became a grown-up you know i was told but the one place i was never told that was at the consumer level at the lemonade stand at the baseball card show and my dad's liquor store i was shining the consumer always said yes to me but humans who had judgment of what i was up to always said no i'm going through it right now last two weeks i've been explaining to everybody what i'm going to do in nfts now i have some reputation so people are a little bit more thoughtful with their nose they hedge their bets but i mean my dad was told by every lik all these uncles of mine other liquor store owners that i grew up knowing they all told my dad he was crazy for letting me build a website the internet was a fad 1996. it's a fad how could you spend 25 000 15 on the site and then a little to kick it up and that was a lot of money for a small business that does 300 000 in profit a year and you know building winelibrary. com was crazy moving all the money from print and direct mail to google adwords was crazy now i built this 40 million dollar company from four and now i'm spending all my time in this thing called youtube and making videos who do i think i am what is this that's crazy then my financial advisor said it was crazy that i put all my money that i'd saved into facebook and twitter stock that was crazy starting an advertising agency by being a wine merchant that was crazy you know buying bitcoin in 2014 was crazy this you know i mean nothing i don't really remember anything i was excited about that wasn't met with blind you can do it from my mom and then probably not from everybody else that's the story of my life i i've kind of learned that my wife is almost a reverse indicator that she goes uh what i go i am on to something yeah it's true i mean gosh every it it's such a huge piece of knowledge for anyone to gather which is that no one else knows anything that the they're all just kind of using these patterns they've learned from other things and trying to handicap whether something new is actually going to work or not and so it's so much easier to go that'll never work because they're probably going to be right more times than not but it's just such a terribly um piece of advice it's happening to me right now as i explained to people that nft is going to be the ultimate arbitrage for influencers that build real communities the way that artists are going to get their actual economics the fact that people will care about social currency at scale virtual goods you know these are all things that i believe in and it's hard for people to understand i have to say things to them like how much do you think three years ago at the height of it two somebody would pay for a blue check on instagram and you know the way however i storytell that a lot of people are like oh a lot i'm like well that's what nft is going to be they're like but wait a minute i can take a screenshot of it i'm like you can also have a fake prada bag you're allowed to buy a fake rolex you know people struggle with new things they don't understand the blockchain they don't understand you know these things and so i mean this is why i love having a relationship with you i used to go crazy with people about netflix versus blockbuster right me too yes but you had a lot more financial and emotional reasons too i saw it from a hundred [ __ ] miles away it just was obvious to me and listen and not to be kissing your ass here but seriously i was a wine person a long time ago and i was a direct marketing guy and when i saw what you were doing i was going oh jesus this is i can't believe he's the first person who's kind of building this out it's so evident to me and not just and same with jeff bezos i'll go they're not nuts this is so evident i don't know if you're going to see this you're about to see some goose i literally there have been three companies that i've ever bought public stock of ever in my entire life over the counters it's just i'm you know what's funny about me i don't want the money i want the happiness i don't get great joy in buying stock one of the reasons i love nft is i love to doodle and yeah people don't know this about me so like this speaks to me i've always been obsessed with walt disney and vince mcmahon why ip creation the macho man and hulk hogan are goofy and mickey mouse i get it and so this is gonna be a great space stream but the reason you just said bezos and i got goosebumps is amazon netflix and shopify are the three companies that i've bought every other public share i own is because i invested in a lot of private companies that went public right i have a big one with coinbase i'm gonna have those shares but it's not because i'm buying them on the open market and by the way i probably should because i've been very right about a lot of companies and i've just it's just not where i get my excitement but i get it it's very obvious to me yeah it's such a great a great thing but it is it makes what it what makes less exciting it makes it fun it's being able to see these things happening and go here's what i think is going to go down and having it go down doesn't get much better than that so gary by the way the historical rep the historical correctness is what i live for is what you what it's oh i know i like it it's a fun game are you better at seeing it than others it's a real business challenge for thought leaders and thinkers and pontificators and debaters and curiosities like that's my game yeah and i think in this game that we play so much of it comes down to this i'll call it informed instinct which is that you go there's all this stuff in my head and i can't draw the dots for you i can't necessarily lay it all logically but it's lining up and something is telling me it's going to go this way and then people go oh he's a good guesser or he's got and it is but it's also trusting this impulse that something's going to happen is actually going to happen that once you learn to trust yourself on that it's such a great uh way to sort out all these possible things you could be doing right well cool listen like i know i gotta lose you in a second to stay and keep you on your schedule um one really last question you are have so much [ __ ] going on and i hear you say the balance is so important do you have any certain trick you use to try and keep your head from exploding from making sure you have uh have time for the other stuff not judgment not what not judging myself yeah that's a good one a lack of judgment on yourself allows you to not judge others which is healthy and it also makes you not dwell which allows you to drop 33 plates while you've got 86 in the air and you're still thrilled with your net positive outcome in that looking back in historical correctness people only remember that one plate you manage to keep going and they forget about the other uh 79 that uh one thousand percent and if you should and if you have the humility to respect your craft i love entrepreneurship not because it's money but because it's fair yeah when i lose i deserve it and i like it you know like i like that i passed on uber twice bought some bitcoin in 14 but not enough i like my losses yeah there's some of the plates you drop and that's fine you know it's part of the nature of it closest to a meritocracy we're gonna find yes that's true well cool listen thanks so much for

### [28:00](https://www.youtube.com/watch?v=tXQS6hkh5Ns&t=1680s) Outro

squeezing half an hour with me um good luck and hopefully we can get a chance to see each other face to face in the not too uh distant future talk to you soon all right see you gary bye-bye youtube watcher what's up it's garyvee first of all thank you so much i hope you're doing super well during these times i also want to ask you please subscribe because my commitment and exploration of youtube is about to explode stories polls more content more engagement more surprise and delight this is the time to subscribe i hope you consider it and i hope i see you soon

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*Источник: https://ekstraktznaniy.ru/video/17589*