I’d Buy BMW’s Razor Blade... If only they thought to make one | DailyVee 363

easily one of my favorite episodes of daily be this lunch got into some real insights some different thinking and some really powerful stuff here in Toronto so hope you enjoyed you these daily be oxygen to me it's how everything works you know and if you do it great you're getting people to do things for the right reasons you know and that's cool branding and propaganda can get very close right and that's why I throw in for the right reasons cuz that's long term but to me it's not being at the mercy of anybody I think what I like about my life is I'm not at the mercy of anybody and a lot of that has to do with branding and just my own kind of like lack of expectation of others which makes it all upside which is good so I think it's I think to me that's what's been so interesting about the auto industry is technology has stepped right in the middle of you and the unconsumed in a meaningful way and they have the leverage the amount of referral business that goes on in this world amount of money dealerships pay for referrals in one shape or form is a bad macro economic structure it's not only is it unbelievably expensive the refers are being kind to you still they have all the leverage Apple one day decided it was 30 percent big on the app right that you know if you guys know what goes on the Apple world like when you transact there Apple's biggest 30 percent you know crazy that's a big number you know if one player in the referral business decides to double the fee because they can afford to they'll all be double and you're gonna do nothing about it you have no leverage brand is the only thing that can stop that got it brands the one thing that goes from utility to emotional so I have a quick question about it goes along with branding but like so hard you'll agree we have 12 source and not all of them are named the same over our name is foul and we're trying to brand the name fat and get the name out there we have a Porsche dealership with their dealership some luxury high-end dealerships what is more important to focus on the Porsche name and clear name or to keep branding as fast and get that name out there it's not even close it's not even a close to mate it's so much if it's so much of it's so important that if it was my family business and I looked at the contracts and there was a way for us to fire somebody not doing it and they were the biggest economic driver I would spend all my life convincing my dad we had to fire them that's how much of an abyss you should do whatever you think is right Jamie but it's hot if you're if I was part of the business and I had say it would be the only thing I care about it's the answer that I just gave the gentleman there it's the only thing I would get the only brother it's the only thing you got have it doesn't feel like that right that doesn't win the sprint Porsche wins the sprint that's wins the marathon that we were having the same conversation I actually I said opposite I get it fine so because you're right about that but you're just not playing out the chests of it all okay sure in four years when Porsche sends you an email and says you've got 18 months and we're out you're gonna be like [ __ ] but Jamie on that note guys I'm gonna say it I want to make sure you understand it Nintendo was a plain card company Nintendo started as a playing card company I shirt off as a wine merchant like I get it but I actually usually think the number one move when [ __ ] is interesting is to leverage while you've got it the building of the other thing with the assumption that the first thing might not even be there at all and then taking it all as upside and then you can get smart right like so the way to get to the orange is kind of silly lawn mowers a little bit closer but what about why can't you guys start the coolest air refreshment thing in a car company out of your little one-stop like why couldn't somebody here create the $10 premium air refresher you know I just think of this like I don't know if people think you know like why not you

could and you'd have pretty much as much permission to do it as anybody else I'll go a different place with you I think that BMW and Porsche and Mercedes should be going into other sectors I'll go the reverse I think if I met Mercedes I'm the CEO I would be creating an Alexa Google home Apple home pod competitor because I permissioned because of my brand to be behind engineering and high quality product I would why should bran be the biggest racer in the world like I would buy BMWs Razer so you know you got to think about where you have permission to hedge doing stuff like that like making bicycles and making this make it make sense yeah that's cool know what I stole Harley Davidson that's right try anything that's branded Harley Davidson because Harley Davidson really built a brand they went they whoever was running I know nothing but like whoever was running that ship and that probably that era they went all the way they actually I actually think they went too far I think of Harley Davidson similar to Playboy I think sometimes you [ __ ] out your name so much that you dilute it so you have to be careful 60% of our sales which by the way may be great like you know it's funny sometimes you look at margin you know my dad's business I'm trying to convert Wine Library it's called Wine Library I'm trying to get my dad to basically become a food store you know I'm not a scholar I didn't go to Yale and did a couple studies and I'm a good public speaker and wrote a book and we're having this conversation I do what you do I there's never been a day since I would from the day I left college at 22 I drove from Boston to New York to New Jersey to home and from four I got there for 18 and worked from the for 18 to 7:30 before me and my dad went home this is the day I left college from that moment on to the second I'm sitting here right now I have never not operated as a CEO a business in my life even in the transition between Wine Library and the building of garyvee I was the CEO vaynermedia yes I was a little more passive than AJ was but it wouldn't be there without me so I'm a you know I don't say this stuff in theory it's not theory for me this is not intellectual this is practical reality I think in the way I communicate it feels hyperbolized cuz I'm a showman but now I'm an interesting part of my career cuz now I have some history behind me that makes it a little it's a little harder to completely laugh me off the stage you know because you keep winning that much it's hard that's why I built vaynermedia Madison Avenue tough place big companies holding companies billion-dollar companies he's just a Twitter kid everybody made fun I the articles are in the Internet Twitter boy thinks he can win Madison Avenue this [ __ ] kid he didn't things say that this guy thinks no that's what they wanted to say this guy thinks he's a big shot it's a lot harder to build a Madison Avenue agency is them to get some Twitter followers vaynermedia is the fastest growing organic top-line revenue agency in the history of the business seven years $150,000,000 no ma all organic no cash infusion that doesn't happen because I'm charismatic that happens because I operate communication David you know day trading communication if my wife text me right now and she's like [ __ ] this I won't go to Chicago right now I'll fly home and then I'll talk until it's not [ __ ] this now a lot of it was back to making good strategies like I had a young age knew who I needed to marry I didn't know it you know us guys and we're mainly guys here when you're younger you're like you want your girl to be obsessed with you this I didn't realize how desperately I needed to marry somebody who was super independent and had her own [ __ ] and was her you know that's funny to me in hindsight of the teenage me would have never thought that right somewhere super her own person and she's a stay-at-home mom but from a framework she doesn't need me you know kind of which is interesting and then an extremism so Monday through Friday when I'm on the field it's 7:00 a. m. to midnight and then in the weekends I'm completely checked out at home and I take seven full weeks of vacation completely checked out and I said extremism something that won't work for most yeah you know you don't know what's going on in somebody's bedroom right but I don't let any I'll tell you how I rely leave you another answer the maybe even more important in communication I'm just not interested in your guy's opinion on my parenting style too many people are pandering to the current state of political correctness of parenting right that's right everybody and I'm empathetic to it I get it but I actually on the record of this I do believe this co-parenting this concept will be looked upon in a hundred years

from now as wrong I'm not believing two cooks in the kitchen there's no such thing as co-ceos or him I think in I think in 70 years I think people are gonna get if I think it's 70 years I think we all know couples where when you look at their DNA the woman or the man should be at work home so I think we went through woman at home man now we're living through another you know starting to get into like a co-parenting thing and we'll do this for another 20-30 years I think our kids and probably more likely our grandkids are gonna be really smart and awed it with each other and be like you're higher you have a higher capacity to earn I nurture and then let's go because boy I know ten couples where the woman's at home and she's 50 [ __ ] times more capable than the guy and I know equally as many couples worth she's a disaster and not nurturing at all and he's the most lovely thing of all time I think that's going to be the future of parenting I think so I think it's practical Bon Appetit um my biggest miss is definitely the things that I haven't done so I don't know him in detail cuz that's my biggest issue crippled by opportunity right the biggest missus black and white are I was super right about YouTube a company called viddler came along and gave me seven percent of their company to move my Wine Library show to viddler and I stopped producing for YouTube up until a year and a half ago and I left ungodly amounts of branding on the table over the last decade I passed on uber z' angel round twice if you guys go take out a library crush at my first book I had only acknowledged one person and my acknowledgments besides my parents my family and that's Travis the CEO of uber cuz he's a dear friend of mine and I passed on a friend of Mines company twice and it ended up being over so that's pretty black-and-white I didn't answer the email that reads like this hey Gary we were huge fans we desperately want you to invest in our company we'd love to have a meeting didn't even reply to the email that came from Airbnb so I'm real I mean I was so right that I have such real losses you know cuz you couldn't get them all right I don't have the losses I don't know losses that most people have because I've never done anything financially that could hurt me really bad I'm stunned by people's ability to do things that can put you out of business like overextending yourself I don't do that no I'm not if I don't have the cash I don't do that I'm willing to borrow I mean I got a lease at Hudson Yards that scares the [ __ ] out of me right but those are a little more calculated I want two biggest reasons I built my personal brand is I used Gary Vee as an insurance policy for my life like if all else fails I can make twenty million dollars you're speaking and writing books that's the most ridiculous thing I've ever said in my life but it's true and it's and it's awesome you know so I think I did that but I also did it for branding vaynermedia doesn't pick do our fees we're just last week five of the biggest 500 businesses in the called me directly and said will you take our business that's called brand you know so we don't have a sales team head of new business and we're the fastest-growing efforts bring them let the market come to you the person that asks gives up the leverage right sales that's why it's hard the way I knew the internet was gonna be big the way new e-commerce the way email and Google AdWords I was building patter you know by not being educated by not knowing rich people I came from like a very funny place I don't I didn't know a lot of stuff I didn't even know venture capital existed so I'm like wait a minute like this is interesting I'm good at things like this is not a joke I'm like I understand I'm not a good salesman wine merchant I'm good at things like that's how I think so I started reading everything about YouTube selling for two billion dollars and I don't know if you guys remember when YouTube sold for two billion it was 1. 7 it was in two thousand seven or eight I don't remember exactly but if you remember that was like a trillion dollars at the time remember that was like now we throw around a billion right good I'm glad you guys remembered for kids that you know they came that was like a trillion so that's a trillions a lot like if I woke up this morning and snapchat sold four trillion or something else over I'd be like well that's a lot so it hit me that hard and it was something that I understood as one of the first 50,000 people to ever understand something

there's something in that bigging I read about angel investors then I googled angel investor so that's why I always give this advice I'm not like and I'm like oh you can invest in companies like I'm being serious with you this may sound like there's certain things I'm good at there's some things I'm not before they go on the stock market then I started really getting into tech but I was like this is gonna eat the world I'm like that's what I basically buy narrowly overnight decided everything that's happening now will basically eat up everything and so I started really learning I started reading TechCrunch every day and then I went to South by Southwest at 2007 and at that South by Southwest 2008 Twitter was exploding and everybody was [ __ ] on it even the tech kids like who cares if you because it was psychology it wasn't utility everybody was like who cares you know everything you'd have real tech people the people that now you all know like very famous and then something you know but they would sit here and I would be up at the barbecue pit I'm listening right for all my talking and I'm doing a lot of it today I listen all the time and I'm listening and they're like who gives a [ __ ] if you walk the dog this is stupid nobody's gonna care that you're eating pizza and I'm sitting there and I'm like everybody's gonna care I'm like that's what we do that's what life is we don't want to admit it so that's what I'm good at right I knew that everybody was gonna put their credit card into a computer when everybody told me they wouldn't I knew that every I knew everybody was a hundred every one of you is gonna retina scan everything because it's gonna save you time I knew that everybody was gonna online date when everybody thought it was the weirdest [ __ ] ever in 2000 it's just time arbitrage it will be the thing we trade on every time I get an email from Dave Moore in the head of platform and says mark would love for you to come and speak to the company about why you believe this I said I'll be there tomorrow I flew out to Palo Alto I spoke in front of the company when it was the size of this conference I just gave I only spoke about consumer behavior because at that point I thought that there was something weird about Facebook that they really were doing what I would do if I knew how to do that so I went weird it was the first time I'd ever spoken I don't even know how to articulate it right I didn't know mark was there he sat all the way in the back slouched came down goes do you want to have dinner tonight I said I sure do we had dinner he was one of the only people I've ever met in my life that I thought had the same intuitive understand about people as I do which is super funny to me because the way he's portrayed in the movie is super hot like he's so not he's introverted in some ways but in a macro he's all time we became friendly he would come to New York a bunch and I would see him which was gonna be great stories one day to tell my grandkids and one day his sister called me Randy and said our parents mark and i's parents want to sell a bunch of stock to buy a house and we'd really like you to be part of the family would you like to buy some stock and I said I sure do I was in the back of a taxi in Miami I'll never forget that moment whole life I put in every dollar I had in my bank account except for a hundred thousand dollars and I'm not sold one share since thank you thanks for having me it was really nice being you guys yeah I'm good daddy take care of who's your favorite insight your favorite new insight from today's episode you