SPEAKER_01: hey everybody happy friday jason is back just in time to wrap up the super bowl earnings week

SPEAKER_00: yes and i am itching to make a j trade i was off the grid for 72 hours had a wonderful time

SPEAKER_03: whitewater rafting in uh northern california but i got a j trade in me today let's go what's it

SPEAKER_06: gonna be amazon apple we might talk a little bit about facebook could be anything could it's not

SPEAKER_03: investment advice i want to be clear when i make a trade i'm not encouraging you to make the same trade no but you should do your own research obviously but we also have another edition of

SPEAKER_11: ok boomer from producer rachel because yes it's friday and it's gonna be a great show stick with us

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SPEAKER_20: most important news amazon crushed it molly what what do we got here i mean after a uh really meh super

SPEAKER_01: bowl week of tech earnings we got a touchdown a very very exciting end zone spike amazon reporting strong earnings the stock was up as much as 12 percent early on friday in fact i think the numbers are not just strong in some cases they are and this is a direct quote from producer nick outright ridiculous

SPEAKER_20: we're we're in redonkulous territory okay let's go through the numbers here really are yeah because it's three businesses four businesses i mean they're firing on all cylinders but let's go through it

SPEAKER_01: and every one of them is killing it q2 revenue was up 7.5 percent year over year to 121 billion dollars huge that's a quarter of one quarter's worth of money uh the q2 net loss was two billion dollars last year they made seven billion dollars in profit so they did lose money this quarter but that's okay wait for it yeah aws revenue was up 33 percent year over year to 19.7 billion dollars aws by itself just one of the three-legged stool that is this insane juggernaut is currently on a 79 billion dollar run rate unbelievable just unstoppable in fact jameen ball who is just so great from altimeter had a tweet breaking down the current state of the cloud giant so just the question of like who is winning the race to the cloud amazon 79 billion dollar run rate growing 33 percent year over year the last quarter growth was 37 percent azure coming up so fast that's microsoft's cloud 55 billion dollar run rate okay 46 percent year over year last quarter grew 49 and then you have google cloud which is in it and growing this includes g suite though so 25 billion dollar run rate growing 36 year over year last quarter grew 44 there's a little bit of

SPEAKER_30: gamesmanship going on here in what people are including in the cloud so but that g suite thing

SPEAKER_00: is real interesting i think microsoft is also including some things in cloud i was hearing some back channeling about like well is that cloud like you're providing compute services to people or is it like some internal services that you're bundling into the cloud putting aside the definitions this category is redonkulous and it's only to sustain 30 growth on you know tens of billions of dollars is extremely hard to do these are large numbers molly uh these are this is not like a startup that went from you know 10 million to 15 million or 10 million to 14 million you know this is 50 billion dollars

SPEAKER_37: 30 billion dollars i mean you went from 15 billion to 19 billion in a quarter yeah it's not it's it's

SPEAKER_00: nuts and it's not stopping because there's tons of people who are still running their own clouds you know you set up a data center you might hold on to it it might have a 10 year lifespan and then at some point you're going to say hey i'll move it over and then plus consumption of information on the web probably grows at 20 30 40 a year right our usage of storage space i i just put my camera on raw files

SPEAKER_39: uh for some photos because my friend was like you don't do raw i'm like no what how do you do raw on your iphone he's like you gotta they don't put it on by default they kind of hide it but that's

SPEAKER_00: because you're going to be doing whatever it is like you know seriously large photos yeah you're going

SPEAKER_43: to fill up your and paltry iphone storage immediately well i have the two terabytes that i have

SPEAKER_39: like over a terabyte open so i was like well you know i'm going to start taking some raw ones and

SPEAKER_00: i'm going to start editing it and then you look at video you know we weren't shooting in hd you used to have to click to shoot the hd button on on your iphone now that's on by default right and and let

SPEAKER_01: alone if i mean that's just consumer stuff and then you have like massive compute projects and entire companies running on these servers and podcasts yeah 80 billion run rate which i feel like we should say again 80 billion we also talked about um with dear drbosa google potentially on purpose sort of is spending to get customers spending to get growth losing money on purpose on google cloud to try to catch up but these numbers show you why this is so competitive and if google is in fact spending a lot of money to catch up in this in terms of the market share like you can see why because once you

SPEAKER_00: lock it in it prints money yeah and azure you know has been on this i know this from the um i know this from the startup space amazon in the early days used to sponsor a lot of what we do a lot of my events then they were like yeah we don't need to sponsor and they were playing all kinds of games they would give y combinator a better deal than tech stars they would give y combinator a better deal than my accelerator our accelerator launch accelerator they were just like amazon was a bit arrogant the aws team was like super arrogant with me and they'd be like oh we're coming to this we're going to this and i was like no you're not you know like they're like oh we're coming to angel summit i was like no you're not coming to angel summits for angels like oh yeah but we want to go we'll buy two tickets i'm like no it's by invite uh if you want to sponsor something you can sponsor something but then azure and microsoft you know for the last 10 years have been like hey jacal can

SPEAKER_39: we help your startups we'll give them you know a hundred thousand a hundred fifty thousand dollars

SPEAKER_00: in credits and then what amazon was doing which was you know i always found very offensive and i told it to them i'm always very honest they were favoring y combinator companies they were giving y combinator companies a better deal than our companies or tech stars and i told them i was like you know what it's lame i don't want to work with you guys um go pound salt i'll just work with microsoft and google and i did that and microsoft has been incredibly generous to startups and they don't

SPEAKER_39: require them to go to like be anointed by y combinator i'm not and i'm not there's nothing against y combinator companies but if you're amazon just don't be arrogant like help everybody equally

SPEAKER_55: yeah and uh microsoft did that and google cloud started doing that and i am seeing more and more founders using azure i haven't seen more founders using google cloud if i'm being honest everybody used amazon then because of the credits i've seen so many people go to microsoft and they're like hey this is good stuff and what's happening also molly is there's going to be parity so all of these services are going to be the same and then i've started talking to a lot of founders they're building their software to be portable so okay microsoft gave me some credits great you then you check your bill and then there are companies now that will monitor your bill tell you how to lower it or say hey move your storage over here or here's a better deal for you so this is going to be a dogged fight and i think you'll see people take their whole startup their whole company and it'll be cloud independent and i think that's going to be a big part of this but these are the three winners right

SPEAKER_01: here's your gold silver oh yeah because it's gold silver and bronze this is an unswimmable moat right like nobody's going to come in here and pop up cloud services like the capex that it takes to build you know i mean it's sort of like so easy for people to forget that the cloud is a lot of computers taking a lot of space like this is not a fortress that can be climbed by some startup so absolutely these are your three winners no doubt yeah and i do think you know i wouldn't count out

SPEAKER_00: a google at making a run um they haven't been super focused on it but they they could keep investing they could lose money on it for a while they could give huge you know discounts to get people to move over there and test their stuff but microsoft is gaining ground you see if you are growing 13 faster than your competitor which is really a third you know more than uh that 13 is a third more than 33 or a little bit more so they're going to catch up i think it'll be a it's right now going to be a a two-horse race and i think i wouldn't count microsoft out i could see a flip happening here i could see microsoft you know reaching aws level and then maybe even beating them it's unlikely but i do think it's the gap is going to continue to close that's that unlikely yeah i'm i'm 100 with you on

SPEAKER_01: this and i see no reason why microsoft wouldn't reach at minimum parity at minimum all right but that's only one we're only through one of amazon's businesses right now that's in the billions of dollars per quarter uh amazon's q2 advertising revenue a business most people didn't really even realize that amazon had generated 8.7 billion dollars in q2 up 18 year over year it had generated 16.6 billion dollars of revenue through the first half of 2022 so it's on pace for over 30 billion dollars this year so bonkers if you just combine aws and its ad business a business almost nobody even realizes that amazon has then this company is on pace for 104 billion of dollars of revenue and that is entirely excluding yeah the whole retail business and amazon prime right and there's

SPEAKER_39: a reason for this yeah you know if you look at google's advertising you type in you're looking for you know an ipad case ipad keyboard the ads i mean the advertisers don't have to guess there's no cycle graphics here you're looking for an ipad keyboard and you're we we know you're in you know palo alto so here's your options in palo alto and you know the ads therefore on google search are content what amazon realized was uh if you were to put ads all over the search results and you just put this is the amazon consensus pick you could insert natively this is what native

SPEAKER_00: advertising is the ads are no different than the content you could just throw in a couple of uh paid ads and nobody knows the difference and what happens organically molly is and it should be obvious to everybody if you're making money then you can spend money on these click ads right so you do a search for the ipad case on amazon well people go to amazon first now i don't go to google and search for an ipad case i go to amazon first if i go to amazon first and that's a that's a vertical search engine for shopping um they have better data so page rank is great for content but page rank is not great

SPEAKER_03: for sorting uh products what's great for sorting products reviews return data and all that kind of stuff so that is why amazon's ads are content they feel like content if they're good and it doesn't detract

SPEAKER_44: from their actual sales it's super also i mean amazon has such a crappy ui in so many ways but the

SPEAKER_01: advertising insertion is so seamless i mean it genuinely is and a lot of times i'll see the sponsored result at the top and then the the third reason the third organic result will be the same thing but all you know all these great reviews and whatever like and i'll end up clicking the sponsored result because i'm like i don't know sure it's the exact same it's right here i can see that it's like a real thing it's got all the reviews it's not just like somebody bought this placement and it's a scam like the and it's so smoothly inserted from a user experience perspective that

SPEAKER_86: you're just like yeah sure fine i'm not here's a dark side there's also a dark side

SPEAKER_20: they also of course there are advertising well no but it's really it's really sinister amazon had a

SPEAKER_39: google had a massive controversy you would do a search for i don't know zendesk right uh or hubspot well then hubspot and zendesk's competitors would buy the three ads above the first organic result

David Friedberg: and people fought this and said hey this is unfair google said okay sue us if you don't like it but we're doing it so they would sell your keyword for your company to your competitors what does that

Chamath Palihapitiya: mean you have to do well you have to buy your own keyword so if you're zendesk or if you're hubspot or if you're salesforce or whoever you are volvo volvo has to pay to put volvo up top so that people who

SPEAKER_00: are buying whatever mercedes yeah you know similar model don't take the top slot above them so you're

SPEAKER_39: basically paying for every organic click and the users on amazon and the users on google don't know the difference i would say in 60 or 70 of the time this is something the ftc should investigate they don't actually know they're clicking on it it is absolutely an ftc investigation waiting to happen but these companies you know have figured out a way to dodge this one but my lord how many times have you looked at a search result on amazon and you see like oh this ipad case is ranked in the top five wait but then there's another version of it just three clicks away you know in the ranking that's

SPEAKER_00: the ad version so you see it twice yeah exactly and so it's it's pretty sinister um but it's super effective right yeah and now if you google where if you're at this point especially if you're a content

SPEAKER_91: creator it's you know you have to pay to have your own stuff seen on google yeah it's a look nobody

SPEAKER_01: advertising is among the more pernicious business models that we humans have created right there's nothing like attention of course there's nothing altruistic about advertising ever and there never will be so keep that in mind however it is a very very effective way to make money and amazon figured that out like very really quietly i remember several years ago you know talking to my producers at marketplace being like we should do stories about this amazon ad business and then as of last year amazon hit 10 of us digital ad market share it's probably closer to 15 now yeah it's going to keep

SPEAKER_39: going and they were shipping all that money to google so this has been a 10-year plan by amazon to

SPEAKER_00: not have to ship their ship their money to google and get people to go over there you know who else is doing this at the same exact time apple yeah apple when you search on your phone is starting to show you a collection of data they'll search your local uh you know device and they'll look for things in apps on your uh icloud account your photos and their own app store before they send you to the web so apple is trying to intercept searches as well and that will be highly effective right so the things that will not be affected in advertising just to put a pin in it is what you're going to see is the people who don't have this very um clickable targeted advertising where the search search advertising basically with the search matches the destination and the keywords which includes facebook instagram tick tock uh pinterest and uh snap those are less essential you have no choice but to pay google and amazon and i predict you'll have no choice but to play pay google place or an amazon play store if you want to participate in those but you can kind of take off during a recession pinterest facebook tick tock and snap and that's what you're going to see is the bifurcation of the ad market during a downturn which means there might be an opportunity to actually buy those names that are going to flatline over the next year we're already seeing with snap

SPEAKER_108: you know right by the stock you mean or by the the companies well the companies could get bought uh

SPEAKER_00: certainly uh but i do think the stocks will really get pummeled and you know it's going to be a i would say it's going to be a one-year you know advertising downturn and we're in the the first quarter of it like people are just pulling back their ad spend because they plan the ad spend for the year or six months typically so you know q2 q3 q1 two and three were kind of baked in q3 start to see softness q4 maybe people have to buy for the holidays but they'll move to only what's essential so i do think you're going to see the slowdown in q1 and q2 of next year and that's when you'll see snap will lose 20 of its value facebook will have a rough first half of the year they might do okay

SPEAKER_55: with a dead count bounce in the fourth quarter but you're going to see the first half of 2023

SPEAKER_110: in all likelihood be a really challenging half a year two quarters for the which we did see from

SPEAKER_91: meta earnings no already reflected i mean the fact that had the fact that facebook ad buys are now

SPEAKER_01: totally optional it shouldn't be you know like i want to highlight that bit of that that's a big deal and that it does not bode well for that company combined with the apple privacy changes it's like apple made these privacy changes like apple seems to be executing a perfectly played hit on facebook at this point like it's just an assassination they're like the privacy thing cost them 10 billion dollars and they're going to come in and scoop up some of that ad share

SPEAKER_65: and it's just a it's just a cut in the throat somebody watched the gray man this week

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SPEAKER_00: the aws business on fire the advertising business on fire but the businesses that we all use

SPEAKER_01: are retail and amazon prime so how are those doing yeah third leg of the stool also an 8.7 billion dollar quarter that's q2 subscription revenue which includes amazon prime and all of that stuff that you accidentally buy through there and can't figure out how to cancel like showtime and motor trends i went through the other day i finally figured out where to find all my digital subscriptions i was like for god's sake that's like 100 bucks a month however all of us paying for that plus prime generated almost nine billion dollars in a single quarter and that was up 10 percent year over year prime has over 200 million subscribers cost 15 bucks a month or 140 a year and they just keep adding stuff to it potentially including eventually one medical has amazon built the super app basically i mean let's think

SPEAKER_30: about that you can get music you can get you can buy whatever you want you can do commerce you get

SPEAKER_00: music you get their video yeah i mean if if they bought lyft or uber you know there's a lot of speculation in the early days for uber investors the team did not want to sell they wanted to go public but there was

SPEAKER_55: a lot of back channel amongst the investors in uber that amazon uh and apple were the two likely candidates to buy it apple because you know uh the iphone you know wanting to have it was the most valuable app on the iphone for a very long period of time amazon for obviously reasons like last minute

SPEAKER_00: and so i still think that that's a possibility i could see amazon wanting to buy uber now would they be allowed to you know under lena con probably not hard to say i do think that um

SPEAKER_01: um groceries i would be curious to know how much of a win that's been for amazon because i have tried like either the whole foods or the amazon fresh thing and neither of those have ever stuck for me and i'm a pretty dedicated grocery delivery person and i would love to have that all in the same app right the interface the interface is terrible then they then they changed it right amazon does this really brutal thing internally where it's like they try two things and if it doesn't work they just nuke it so it's like the grocery thing went to amazon fresh they changed the interface the app change you know it was just this sort of like it was like weirdly hard to find then during the pandemic amazon fresh deliveries were way slower than instacart and doordash now doordash has groceries i actually weirdly feel like that's the one this is purely anecdotal and so i would be curious to know what other people think but for me that's the weak part of their stable yeah you know here's the thing

SPEAKER_03: when you have a business that is printing large amounts of money and then you have smaller businesses and when i say small you know it's not a hundred billion a year or a hundred you know eighty billion a quarter it's very hard to get up for a five billion a quarter business yeah uh management can only focus

SPEAKER_00: on so many things the short-term memory is seven plus or minus two right you can remember seven numbers that's why phone numbers are seven a management team can only remember seven plus or minus two and in those seven are you know probably three of them are internal things like hiring people and finance you know and and managing the stock so you can arguably manage four or five business lines before your management team your board breaks yep it's too many pokers in the fire it's just too much to handle and then you just don't do a good job at it and so that's that's what's happening here the only way to really make that work is when you have highly um distributed systems so you know they'll get to it eventually but i'm very happy with uh my j trade on amazon uh i bought fifty thousand dollars worth of

SPEAKER_53: amazon as an official j trade i think was my second at 124 a share and it's it's up 100 yeah i bought 400

SPEAKER_39: shares and you know what i feel like when you got a winner you got to keep buying the winners right it so i am going to live on the air right now oh my goodness open up my app hell yeah i'm opening up my

SPEAKER_140: app right now i'm just taking a look at my amazon i feel like i clicked the trade more stitch fix he's like let's go no i have 400 and let's see if i bought if i had a thousand shares if i buy 600 more shares i was like 80 grand worth of shares let me review this trade if i had 600 shares now i'm at an even thou i swipe up to submit order is received on my uh thing and the order is complete so i'm just adding another 80 dimes to my position here j trade is completed we got we had a completed j trade investment

SPEAKER_00: advice here's my thesis i think amazon is going to get broken up in the next five years yeah and i

David Friedberg: think that's going to double and every price of everything yeah exactly when they separate these businesses and aws is its own standalone business and then everything else is in the other company you know what's going to happen the other company the retail company is going to raise prices 10 we're all going to be addicted to it and they're going to be wildly profitable because they have to be they won't have the ability to ride the aws wave anymore i can't wait till it gets broken up

SPEAKER_11: this is not investment advice it's not invested in this next story too i'm making my own trades it's

David Friedberg: not investment advice micro acquire is a startup acquisition marketplace i've always wondered why this idea did not exist and now it exists it cuts out everyone in the middle that means they help

SPEAKER_03: startups get acquired directly and efficiently if you're a founder and you're looking to sell and there's nothing wrong with selling sometimes you got to secure the bag well micro acquire is free for you it's free it's private and there's nobody in the middle to date micro acquire has helped hundreds of startups yes they've helped hundreds of startups get acquired i kid you not and they facilitated hundreds of millions of dollars in deal volume their platform has over 120 000 buyers who spend 390 a year for access that's a big number for a subscription but not if you're an acquirer spending millions to tens of millions to hundreds of millions to billions of dollars buying technology companies thousands of startups are currently listed for sale so if you are a buyer you're probably missing some great opportunities there i encourage you to go become a subscriber

SPEAKER_39: like i micro acquire helps startups find buyers it's as simple as that buyers can browse listings for free and the platform is totally free for sellers sign up for premium for 390 a year to get access to

SPEAKER_03: all the deal info at try.microacquire.com twist once again try.microacquire.com twist great job to

SPEAKER_31: the micro acquire team all right speaking of to the moon apple let's talk about the other big elephant let's finish off finish bring this uh tech earnings plane to a landing apple also reported earnings i i

SPEAKER_01: mean i don't know the last time this was like a this was like a super moon blood moon situation this

Jason Calacanis: week where they all reported in the same week two days um apple reported earnings for fiscal q3 beat

SPEAKER_01: expectations for sales and profits but growth slowed a little bit um the stock was up slightly today up about three percent it's down year eleven percent year to date but it's doing way better than google meta netflix yeah meta's down 50 right yeah cute yeah which honestly just keep it going fine by me um q3 revenue was 83 billion dollars i mean again you read these numbers sometimes and you're just like bonkers that's a quarter that was however up only two percent year over year and the revenue growth was i mean this is actually like almost a hard break at this point revenue in q3 compared to 2021's q3 2021 they grew revenue 36 percent and then over three the year before which was the pandemic year

SPEAKER_00: so you have that like you know reopening kind of trade right reopening i'm gonna buy my new iphone and get on the road get some air pods get on the road got it and then during the re-reopening

SPEAKER_44: they only grew two percent reopening everybody already had their phone and also you're kind of not as the thing you need when you're stuck at home is gadgets honestly like sure again anecdotally

SPEAKER_01: this is exactly what we did like my kid and i got new iphones we all got new laptops because we were all of a sudden at home then we bought the oculus like i was buying consumer electronics like a fiend yep and now i'm like forget that let's get airplane tickets mm-hmm that makes sense and if you if if we

SPEAKER_39: are in a recession and you're feeling the pinch let's say you're feeling the pinch or you're feeling pessimistic are you going to drop i think i spent fourteen hundred dollars with tax on my last iphone

SPEAKER_00: because i always buy the one with the max memory and everything because it's my job right and so i'm

SPEAKER_55: trying to save money on it i'm just like this is a place where i'm not going to be efficient because i spend so much time on it so even if you're only spending a thousand on your phone it's a thousand bucks it's a lot of cheddar i mean these things are not everybody's like living in this fantasy land

SPEAKER_00: where like a smartphone is still five or six hundred bucks there's no subsidies you're paying a thou it's and maybe if you trade yours in you get two or three hundred off you know i think people are

SPEAKER_75: going to skip a year there's no reason to get a new they're awesome yes that's the other issue is that

SPEAKER_03: these things are awesome why would you upgrade if you don't have to if you're on a business account or you're flush i understand it's a luxury it's a well worth paying for uh the thing i would look at

SPEAKER_180: here is services i was just going to say saying services scrolling to that right now mm-hmm they're at

SPEAKER_03: 19.6 billion in services they have i think 800 million people paying for subscriptions with them

SPEAKER_55: now i talked about who's going to be the first to get to a trillion i'm sorry a billion subscribers and i said disney plus in the video space i believe disney plus will get be the first between hulu espn uh and disney plus i think they get and whatever else they add to it i think they'll get to a billion paid subscribers globally well here we go this includes apple care which is a i wish they would take that number out but this also includes news music apple plus tv plus tv fitness thing tv plus

SPEAKER_23: the fitness nonsense which by the way is so terrible it's garbage yeah that's side note i can't but you should be embarrassed about how terrible that product is however let's keep going let's keep

SPEAKER_01: going so anyway they have want to compare this to like let's go back to those amazon numbers remember how we were like amazon is bananas right it's bananas apple's got 19 billion dollars in services revenue including all of its subscriptions in a single quarter compared to amazon's 8.7 billion like

SPEAKER_44: amazon with the prime juggernaut is pulling in almost 9 billion dollars a quarter and apple's doubled that

SPEAKER_55: yes i mean people who buy iphones buy apple care i don't because i just factor it i don't lose my phone i don't drop my phone i'm that guy i got a lanyard i got a case i don't lose or break my stuff there's another person who i cohabitat with who breaks her phone all the time and my three daughters don't have phones so that narrows down who else in the family is breaking their phone all the time and she has to have apple care because breaking her phone is like one of her you know key skills in this life and so she gets apple care i mean this if apple ever loses money it's gonna because of the number of times my wife breaks her phone so i think there's a lot of people who do buy it so i would love to

SPEAKER_44: take out the 825 is it half apple care the other thing i wonder too is whether if if services includes

SPEAKER_39: apps and just includes that 30 big that includes their vig for taking 30 people but it does not

SPEAKER_00: include the 825 is not people subscribing to netflix or whatever else subscriptions people are making

SPEAKER_124: through the app store although i don't think netflix does their subscriptions to the app stores anymore anyway we'll double click on those and get back to you on that uh but great job apple yeah great job

SPEAKER_31: let's not gloss over the fact that it includes that 30 cut of every transaction you make because that's

SPEAKER_01: the that just to be clear is the antitrust complaint that's the one they're coming for so that's like that is a business that could be in some danger yeah from antitrust regulations and it's the

SPEAKER_53: you know it's growing yeah and it's the majority of that service i did see lena khan did her first action

SPEAKER_55: and it was against meta reputation matters so yes meta was gonna buy some uh vr app for um some uh exercise app and they're blocking it so i did see that was lena khan's first action i think kind of silly because it's such a small acquisition but i think it's indicative of

SPEAKER_31: well they were all small acquisitions before they right it's catch and kill it's like yeah get them

SPEAKER_34: early when it's small and then yeah i mean but it's not like it's gonna change the the fate of

SPEAKER_55: the industry kind of thing you know like you could argue buying whole foods or buying one medical feels like whoa you know this could change the balance of power in groceries at some point buying one app from your app store is that really going to change things i don't know but this does show the difference molly between apple and zuckerberg zuckerberg would have if he owned the app store would go down the top 50 and he would buy them or replace them he's never been able to run an app store this is why zuckerberg will fail uh with meta vr is going to be the biggest failure uh and trying to take on apple will be the biggest failure i think zuckerberg's ever been handed in his career i think he's going to blow 30 billion dollars and cripple facebook yeah with this stupid bet he

SPEAKER_211: can't really did print money can't beat apple it's the stupidest bet i mean what did they lose almost three billion dollars trying to compete against apple with this i think so and investors are just have

SPEAKER_31: just are losing faith in that by the second right they're just like really yeah well i mean why not

SPEAKER_39: focus on if it's it's one of the most all-in bets i've ever seen in tech and as i said on my twitter i was just having a moment of clarity i was like you know all the people i know who are into vr are just huge dorks and i didn't say this this wasn't like content farming or some bull i was just like i

SPEAKER_00: stop pitching me on vr nonsense like i understand for education and i think ar is going to be big

David Friedberg: and it's like another five years from now but all of this like i just have zero interest in doing anything in the metaverse and nobody i know does and the people who keep won't shut up about it

SPEAKER_39: are like seven dorks or really socially awkward weirdos sorry and then i then these people are

David Friedberg: like oh i love it i'm like how how many hours did you do this year and they're like six i'm like

SPEAKER_39: six hours when oh in 2022 i'm like okay well it sounds like a great business to be in

SPEAKER_220: i don't think it's gonna work i honestly don't think vr is gonna work i think it's doa already

SPEAKER_44: i don't think people want it sorry yeah i i think most people don't want to live their lives in vr however

SPEAKER_64: i would be curious to know what kids say and kids think man like that's what i'm curious about no i don't buy it either i think kids want to go out they want to have experiences you should you see them when they

SPEAKER_31: get together like especially like after the pandemic right you'd see kids get together and it's just like their little bodies are like let's go do something to each other i mean speaking of

SPEAKER_23: kids let's bring on producer rachel let's do it yeah producer rachel necessarily but if we talk about it on the road to okay i mean you're half my age how old are you rachel like hr how old are you rachel

David Friedberg: i'm 24. okay i'm double your age young lady i was talking to your dad and your mom this week

SPEAKER_238: they were checking in they were like how's my daughter doing what do you think about about

SPEAKER_241: vr uh my family does have a headset and it was really cool when we first got it but it died pretty

SPEAKER_244: quickly so we were like power users right after getting it for christmas and i have a ton of siblings my two brothers one's two years younger one's four years younger than a little sister six years younger so we're hitting everybody right the only one console that has just like withhold like withheld the test of time has been the wii and specifically wii sports that's like the only thing honestly um besides like my brother's obviously playing like halo on an xbox like a traditional console game and like we have nintendo switch um but the only thing that has really kept like

Chamath Palihapitiya: everybody as a group um yeah wii sports okay so you did the uh bye try goodbye exactly what i've said bye try oh no it's the bye oh my goodbye well you buy it you're like oh my this is incredible and then it's goodbye this thing is sitting in the garage the one or it's under the tv it does really

SPEAKER_250: well when you first bring it to college i think i think it does i think it's phenomenal like my brother has it in college at his dorm and i think it does well if you're in a college dorm but at that point

SPEAKER_244: are you just doing it because like you you don't have anything else to do you know i don't want to

SPEAKER_256: the second you make a friend bring up the mom didn't let him bring up the xbox because it was my my other brother wanted to have it at home so is that that's just what he was stuck with yeah molly

SPEAKER_00: my friend has a theory i was speaking to my friend the other day these tech this tech if it doesn't

SPEAKER_39: get you chicks this is what my friend said it's a little misogynistic i would never say this he's like

SPEAKER_20: this stuff if it doesn't just say dates save yourself here if it doesn't get you dates with

SPEAKER_231: chicks and chicks don't dig it it's going right in the garbage and i've uh you have two two ladies

SPEAKER_80: on the program do you if a guy's like hey you want to come play vr with me you already bashed the number

SPEAKER_265: one game for girls already on twitter yeah that's true that is the best steam game i was out looking for like a raspberry pie like earlier today because i was like i want i want straight straight for those

SPEAKER_132: of you who don't know it's like so it's the number one game for women simulator and friedberg got it

SPEAKER_256: okay i love it i think that is i thought it was brilliant i do think it's cool all right now i'm

SPEAKER_75: walking back on it all right i gotta get going i gotta meet in it so what do we what do you got for okay boomer tell us what you got for me yeah that's right yeah so i was joined today by my friend

SPEAKER_244: nate o'brien of roadrunner vc it's a rolling fund that he started and nate is a very popular youtuber he has 1.2 million subscribers absolutely kills it in the finance productivity space and i got to talk

SPEAKER_265: to him about his experience starting off at penn state university where i went but he then switched over to become a full-time content creator and now has a rolling fund they invest in pre-seed and seed stage startups so that was really interesting uh to see his path and hear how it's been learning

SPEAKER_44: to raise a fund as a 24 year old amazing wow 1.2 million subscribers on youtube where he talks about finance investing entrepreneurship minimalism and productivity yeah he lives remote in the woods

SPEAKER_277: sometimes like with with no phones and stuff he does a full jason love it he pulled the jason 72

SPEAKER_39: hours in the room all right great job rachel and uh i will see you can we play multiplayer cat game

SPEAKER_280: oh we'll see if we can do stray we can just like walk around walk around yeah let's play i want to

SPEAKER_03: play stray live on the show next week set me up with tray i'll play it right on the show raspberry

SPEAKER_112: pies for all before we get into the ad everybody it makes our team so happy to see our partners celebrate big wins and i'm thrilled to hear about the huge funding round our partner odoo just had really great stuff from julian and the team over there especially in this crazy venture market so congratulations and uh speaking of the market right now being capital efficient is more important than ever and one easy way to cut costs is to run all your sas apps on one platform so please check out odoo's suite of business apps using odoo means you won't have a bunch of different sas subscriptions everything you need is already on odoo all you have to do is turn it on when you're ready and they'll only charge you for the apps you use odoo has over 40 main apps and over 16 000 apps from their open source community we're talking about sales accounting marketing automation hr website builders and so much more and this will streamline your business no more issues transferring data back and forth and you'll have one customer support contact across all of your apps not 20. and the best part well here's your call to action your first app is free forever and odoo is offering a thousand dollar credit on your first implementation pack so go to odoo.com twist for one thousand dollars off that is once again odoo.com twist okay boomer i understood the assignment thank you nate for

SPEAKER_244: coming on today's segment of okay boomer nate o'brien is a youtuber he has 1.2 million subscribers on youtube where he talks about finance investing entrepreneurship minimalism productivity you name it um i met nate quite a few years ago now actually on my own podcast which kind of so i guess thank you nate you probably helped me get this job because your episodes did very well on um on my podcast because most people that listened went to penn state and although we didn't know it nate and i went to penn state at the same time but nate dropped out because he absolutely freaking killed it on youtube

SPEAKER_250: and now has funded this awesome thing called roadrunner vc which i want to dive in and learn more about but first nate again thank you can you give everybody the story of going to penn state youtube and then ending here with roadrunner yeah sure so i think penn state is one of the biggest alumni

SPEAKER_289: networks in the world and so that's whenever someone goes to penn state sort of like an instant uh thing in

SPEAKER_291: common and that's yeah i think how we sort of connected there um yeah so i went to penn state 2016. uh i went to college with the intention of dropping out but i kind of used college as like an insurance policy of like okay look i'm not making enough money i need to make sure that i can figure

SPEAKER_292: something out so i started launching youtube channels in 2016. um and then every year launched a few more so now we have 10 and a handful of blogs as well wow that is super duper awesome how did

SPEAKER_295: you know that it was the right time to drop out of school um so i set a goal i think it was like

SPEAKER_291: 10 or 15 000 a month that i wanted to be making just so i could you know really justify it um because i i didn't want to be the person where i dropped out with no plans and nothing going for me because i knew that businesses usually take at least 12 to 18 months to really start to ramp up um so i just wanted to make sure i had that nice uh safety barrier there yeah and you said you went to college with the

SPEAKER_299: intention of dropping out why did you choose to go to penn state rather than a community college

SPEAKER_250: um for people listening penn state is a super expensive college it is i believe one of the most expensive state schools in america like maybe number two other than wisconsin so that seems like a pretty big deal um to attend like college in general is expensive in the states penn state is super expensive even if you're in state like why why did the decision to go there yeah um i i really

SPEAKER_291: didn't want to live with my parents i love my parents but i was you know 17 i was like hey i need to get out of the house um and so penn state is is just kind of the go-to school for anyone in

SPEAKER_304: pennsylvania um it was between that and pit i just flipped a coin and it landed on whatever it was heads or tails and so i said okay i guess i'm going to penn state oh my gosh you almost went

SPEAKER_244: to pit yeah yeah oh no oh man it was a 50 50 chance yeah i was between syracuse and penn state because i was like i just want to go to like the most like american-y kind of college there is i was like i want the big sports like either big basketball or big football visited syracuse and there was like five feet of snow and i'm like five feet tall so i was like nah it's penn state penn state for me because i visited penn state in the summer and like little did i know pennsylvania also gets a ton of snow so very interesting that you just you penn state it seems like was a very like not a huge

SPEAKER_250: decision for you and do you think like your time in college at all helped you start a youtube

SPEAKER_308: career was something um or were you doing youtube already before attending school so i was doing

SPEAKER_296: youtube but it wasn't too seriously i was um essentially just uh for ap exams that i would

SPEAKER_291: take in high school i would i would make youtube channels for them and that's how i would study is i would create videos and that was my my form of studying instead of um you know like doing other things like taking practice quizzes um so yeah that's i i've been on youtube for a long time and i've had a lot of failed channels like farming channels and stuff in the past um it's just one of those things

SPEAKER_310: that like you you probably start five or six channels before you take one seriously yeah and so i know

SPEAKER_313: this because i i know you outside of the wonderful world of the internet but you actually did some

SPEAKER_244: other stuff before in business i would like to call it before even youtube um having to do that ag space so what are some of the businesses you had i guess starting off like as a kid i think my first business

SPEAKER_289: was um i would steal my sister's toys and then sell them back to her which was like my first main

SPEAKER_291: profitable one it was really good margins um after that though probably um i started a chicken farm essentially so i had over 100 chickens and i was selling eggs to like all my teachers in school and all the neighbors um turns out a lot of agricultural businesses are really really tough though and not only labor intensive but um the margins are really tough and so like i was selling eggs for two dollars a dozen but my cost was probably a dollar ninety per dozen um and had a firewood business with my brother as soon as he turned 16 got his permit and then i got a truck and so we started the firewood business lawn care business uh just very cash cash heavy cash oriented businesses straightforward you know you go mow 20 lawns at 50 bucks a piece and you know it's a thousand dollars a week or something along those lines so that's sort of how i paid for college early on as

SPEAKER_294: well wow that's super duper awesome so you've always been entrepreneurial that's always been in your

SPEAKER_250: blood um why did you decide to start a youtube channel and then evidently also what really was the

SPEAKER_291: reason it took off um yeah so i i started with my personal brand which was um uh finance videos specifically and that was really just because i was trying to learn about investing in finance content in 2016 and there was nothing on youtube um and people don't really remember this now because it's like if you go on youtube there's so many there's so much content right but it literally did not exist if you could type in how to save money or how to invest on youtube and videos of you know elephants would pop up or something it would just be totally irrelevant stuff um so there's a really big gap in the market um there were a couple of people starting to make finance videos and um they were getting a decent amount of views and they were making you know a couple thousand dollars a month and i said okay this is a good opportunity for a 17 18 year old kid to get started but i wasn't

SPEAKER_322: expecting it to grow so much um you know the niche really really grew every year uh over the past five

SPEAKER_244: six years yeah that's that that's how i i mean like first came across i've always been really

SPEAKER_250: interested in personal finance um my dad is super interested in personal finance but when i got to college i obviously wasn't like living with my parents anymore so there's some other questions i had and i liked seeing a youtube channel um graham is like another personal person in personal finance that was pretty big in the youtube space um and now i see like you're on his channel and stuff like that which is so cool but graham is really the only other person that was on but you were closer

SPEAKER_244: in age so i was like ah yeah like this makes sense like checking out needs content and there are some of your early videos and it looks like they're they're recorded like on pen like now that i know you went to penn state i'd look and i would be like wait is that like a penn state classroom

SPEAKER_291: like were you recording out here in classrooms yeah i kind of had a double life um so i didn't tell anybody that i had a youtube channel um until they just found it so my roommates didn't know it until i had like 15 000 subscribers like a full year later so i'd say hey everyone uh i'm going to study and then uh i would disappear for six hours i would go film a bunch of videos in uh i think it was the science lab i forget what it was called but it was that uh science building yeah at uh penn state and i would be filming at like 2 a.m on a friday and just cranking out videos yeah that's awesome and when

SPEAKER_308: did you actually start making money from it did you start this youtube channel like with the intent of making money and then at what point does the money like actually start rolling in yeah um i did

SPEAKER_291: start with the intent of making money because i had to pay for college and as you know penn state was pretty expensive i think it was 20 000 a year for tuition so um but back when i started you can actually monetize youtube from day one so uh the first day i think i made seven cents uh from from ads because you could monetize literally like with zero subscribers so i would go to the computer labs and i would just turn on all the computers and then just watch all my videos like in loops uh on on playlists and so i you know probably made i don't know 50 or 100 bucks in the first month uh after the first year

SPEAKER_292: maybe it was making a couple thousand a month but uh it was definitely a slow start yeah and what

SPEAKER_308: advice do you have for people i know that um jason always says there's this statistic of how many

SPEAKER_250: people like continue on with podcasting after the first few episodes and that number is incredibly low uh how were you able to like obviously i can't be super motivating being like wow like i just made seven cents today time to do it tomorrow how do you really keep up on the motivation to stay consistent

SPEAKER_322: so it actually was really motivating for me even making you know a couple dollars because um my

SPEAKER_291: videos were getting 40 or 50 views and some of them were real people it wasn't just me watching um and to me i kind of viewed it like hey this is 50 people this is a full classroom of people right who are listening to an 18 year old kid talk about money um and i was i was definitely worried about credibility i didn't think anybody would take me seriously um but yeah it's just uh it it took a long time to get started but um i i kind of just viewed it like look if i'm getting 50 views or 100 views that's that's actually a lot of people in today's world we kind of forget that because we're we're so used to you know expecting millions of views but if you visualize the amount of people like if you get 40 000 views on a video that is in a full stadium of people that's massive so it's all just about

SPEAKER_299: perspective on that yeah yeah it's obviously incredibly motivating to even just think like i i feel

SPEAKER_250: like i'd get butterflies knowing that one person like listen to the segment like it's at it's at the end and it's on friday so whenever i get like one person that um like dms me on twitter i like freak out and this is this is something that's like obviously i'm not getting paid like separately to be on jason's podcast or anything but it really i'm definitely also motivated knowing that like somebody is at least watching something that i'm putting time into i think that is a big a big motivator for me so if anybody if anybody's listening right now let me know because i really like to know i'm not speaking out into the void and to pivot a little bit here um we also spoke a few years into getting to know each other about vc about startups and investing when i first had you on my podcast i think i was doing a venture capital fellowship or i was just about to start a vc fellowship and since then um i've grown to absolutely love the space and we were able to talk about it which has been amazing so i was super excited to see your rolling fund that is also led by uh fellow youtuber sebastian fung um you guys invest in you know pre-seed seed startups which i love can you talk a little bit about roadrunner vc and why you decide to start that yeah sure so um kind of going back over

SPEAKER_291: the five six years um you know i started promoting robin hood uh in its very very early days in you know 2016 2017 um and over the years i've driven tens of thousands of users like just better tracked users that i've driven and i've gotten some cash for it but um over the years i've realized hey you know it would be really incredible to have some equity in the companies that i'm talking about so much um and and sebi was sort of an early thinker on this as well and so he started to put together syndicates with craters with the whole idea of you know bringing craters onto the cap table for especially these early stage companies pre c and c maybe some series a um can really you know you can put your hand on the scale and really make a difference on uh with the customer acquisition side marketing side helping founders understand uh ad rates and connections with influencers we felt like it was a really solid value prop there um and so we started running some syndicates we don't like yada savings and oxygen bank uh and a handful of others um but eventually you know we realized that the syndicates as i'm sure you know or it's kind of uh it's a lot right to round everybody up together put everybody on meetings especially influencers who always tend to be doing stuff and busy and traveling um so we came to the conclusion that it's probably better to just launch a formal fund uh we went with the rolling fund structure so that we could uh bring on uh the majority of our lps uh as as creators themselves um and so yeah that's that's the whole thesis there of just uh really investing into mostly consumer facing uh tech uh we we didn't really want to pigeonhole ourselves into becoming a creator fund that only invests into creator economy because personally as a creator i'd see a lot of uh creator economy startups that i think are not not so great um or or not very practical um so

SPEAKER_350: yeah really anything consumer facing yeah that's awesome so i saw i also was watching before we

SPEAKER_308: jumped on the zoom your youtube video that kind of announced it all and you guys were talking about beacons um is that is that something that you invested in through this rolling fund

SPEAKER_289: um so we did not invest into be considered rolling fund those were just personal investments

SPEAKER_291: that uh sebi and i made into beacons on on the previous round um so the rolling fund we launched in may uh we made two investments because it was towards the end of the quarter uh typically we're making anywhere between two and five investments per quarter gotcha why two why between yeah right

SPEAKER_313: i was about to ask uh if you did because page finn doherty super awesome investor friend of the pod

SPEAKER_250: was actually on a segment with jason talking about being a first-time investor but she's our age um um also invested in beacons and i actually found out about beacons through jules terpek who is an amazing podcast excuse me well yeah she is an amazing podcaster but found her off tick tock great commentary over on that end so beacons seems like they're freaking killing it it is um kind of a competitor to linktory in my opinion i just think beacons looks a lot nicer um we have a link tree for this beacon startups and i'll let you know once i can convince everybody that we can you know switch on over um are you allowed to say what any of your investments have been so far um probably probably

SPEAKER_291: not right now super excited to see yeah yeah we were very excited about the the quarter two investments um it was kind of a rush launch we were planning on launching the fund uh for quarter three which was july 1st okay um but but there were two companies that popped up that we were just really excited about and so we we just said you know we need to just launch it now in may um so we can get allocation both these companies so probably later on down the road we can share how are people

SPEAKER_308: pitching to you guys this is something that like you just because your creators like you already have a presence so you're getting a lot of inbound or are you having a do outbound um it's it's a lot

SPEAKER_289: of inbound um so we have a decent creator network and so we see a lot of companies just coming in

SPEAKER_291: uh actually uh trying to to run ads and so for example we've really seen companies where you know they want to sponsor us and uh they say okay actually you want to hop on a meeting because we'd love to get on the cap table um so so that's one that's worked pretty well uh and then sebastian also has uh a company called subscribe that helps creators get equity and so there's a lot of inflow actually from from that company um and he's super well connected he's out in sf and so um deal flow hasn't really seemed to be much of a problem uh for us the reason i asked that is jason and molly

SPEAKER_244: have their own personal brands personal presence on the internet um one of the reasons why we push

SPEAKER_250: out so much content at this weekend startups is because this is how we get deal flow if people don't know about us people reach out to us it helps a ton um the fact that jason and molly are doing you know their own thing uh in terms of having a personal brand and are doing stuff on the internet do you have advice for any other people that are trying to build their personal brand in like a professional way like what what do you think that first step looks like um my my suggestion would

SPEAKER_291: be don't try to monetize too early so i've never focused on monetization on on my stuff like i don't sell online courses i don't have any products um i really just make videos and make some money off of ad revenue and some affiliate stuff um and i think not monetizing too early that's what graham stefan did as well and i think that's why he grew so well i see a lot of people stunt their growth because they have 50 followers and they they're just trying to like sell something all the time um and i think it's it's really important to really build some rapport with your followers by just going like playing the long game kind of like taking that gary v approach of just always having free stuff and then eventually like you'll start making money just sort of as like a like a byproduct of of getting

SPEAKER_313: attention yeah i saw this uh i forget who where i saw this advice but it's definitely from another

SPEAKER_250: youtube channel where they were saying like almost all of your content should be free um because they know how much of a value add there there is and then that like little top portion like that little special extra sauce should be the thing that people pay for so i always think that's that's really interesting especially in like the day and age where so many people have things like patreon um really like that mindset and why why was like now a good time to have roadrunner vc like come to fruition like you're you're killing it on youtube you've said before in videos that like you play on on like just like slowly stop making videos as frequently why was like roadrunner vc like the next step for you um obviously i don't think you're it doesn't look like you're stopping youtube anytime soon but why why is roadrunner vc like your next venture yeah um i think youtube is it's fun uh but it's it's

SPEAKER_291: sort of i kind of view it as a stepping stone um i think it's just really exciting to to i mean i could sit and and get pitched on a dozen companies a day for the next 10 years and i think i would thoroughly enjoy it just sort of seeing these new ideas and concepts um and i i really like to to think a lot uh and so this is just something that feels right up my alley um and i i love sort of working on asset allocation and investing and uh and so uh with with youtube honestly it's it's i don't want to say it's boring but we we sort of have streamlined it with all of our channels and we have a setup so it's pumping cash um but we've said all right we're not starting any more channels we've 10 and we like i don't want

SPEAKER_377: to start 10 more and i'm talking about you and your brother right now are you and yeah uh uh me and and

SPEAKER_378: my brother yeah so he's like the operator on all that yeah and he has his own i've seen some of his

SPEAKER_291: content too as well um he does tech reviews right yeah yeah so sometimes so sometimes like people will dm me like like with random videos that one of us is in and like what what's this web development

SPEAKER_374: video or something yeah it's just funny yeah that's awesome so you've grown like a ton of different channels like what has been the thing that has helped the most in making channels grow um in making

SPEAKER_291: channels grow we we really focus on search so we treat everything like um like a blog essentially so most people on youtube i'd say 95 to 99 try to make viral videos like mr beast which is great but we don't really start with views we sort of start with search and then um potential revenue from that search so we look at who's running ads we look at uh what the ad rates are in specific niches and we target those because i think you can sometimes make a lot more money from 50 000 views on a very specific

SPEAKER_378: video than you could with 5 million views on a on a general video totally that definitely makes sense

SPEAKER_308: and it's it's been really really cool watching your content especially about finance kind of progress

SPEAKER_244: like you said i was watching your stuff i think you're wearing like robin hood socks back in the day um jason is actually he talks about this a lot jason um was an investor into robin hood pretty

SPEAKER_250: famously into robin hood uber com so really cool to see you wearing those robin hood socks and now moving over completely to wrote on our vc after watching like your finance content for so long and seeing how long you've just been passionate about it and you say in all your youtube videos you can't give financial advice it's in all your all your comments and things like that um you you won't also nate

SPEAKER_244: will never sell you crypto that seems to be a really big thing with you a lot of people scamming like doing crypto scams with you um there's so much scammy stuff yeah yeah the but you're the best example of somebody that should be verified on every platform that has ever existed because of how many fake accounts i've seen for you do you think that's just because you're in like the finance space like

SPEAKER_291: what's up with that uh yeah it's especially finance but there are essentially uh multi-billion dollar scam operations going on right now and and the platforms either don't care enough or actually just can't do anything about it but if so most of the comments on my videos are are fake and they're like really elaborate now um and it's it's just there's so many of them that that you can't like you can't stop them because they pop up everywhere um and and you can't filter them out and youtube doesn't really do anything about it i i know twitter has this problem instagram has a problem as well um but it's really getting out of control yeah so yeah i i won't ever sell you anything yeah i'm not

SPEAKER_391: going to be probably not going to reach out and ask you for crypto or something yeah right yeah the bot

SPEAKER_244: situation over on twitter has been absolutely i i'm helping run twitter if anybody wants to join the twitter community for this week in startups please do um but we obviously have some bot issues as well

SPEAKER_250: that we're seeing on our end which really really sucks and some of the other financial um youtube videos that i've been watching have been talking about how we've how people especially young people or people that did not live through 2008 or other things happening in the market um like what they're doing right now some people are choosing to double down and invest and we've talked about that a lot in the show whereas other people are choosing to be a little bit more conservative right now um as a young person who is really interested in the investing space um where do you think

SPEAKER_327: like the right way to go is okay so obviously this is not financial advice but um i have a

SPEAKER_291: honestly pretty simple strategy uh really i i'm inclined to do the opposite of what everyone else is doing at any given moment so so last year we were in an obvious bubble i went pretty heavy risk off and it's why i love twitter too because you can like you can like date all these things and and you can like you know go back and look in history and so in december january i went like full risk off because i was worried and everybody was full risk on right everybody was like buying dogecoin and all these like meme stocks and everything um and so that was very worrisome for me and so i went risk off um and i went into inflation plays and then yeah so really just doing the opposite of what other people do or just looking in places that nobody else is looking at like last year everybody was so excited about ev that it was obviously overvalued now that ev is down i'm starting to look at ev because nobody's looking at it now because everybody's looking at oil now so

SPEAKER_300: i'm exiting out of oil and getting an ev probably yeah we'll see yeah just in general yeah where do you

SPEAKER_250: think um where do you find most of the information that like influences your investing outside of

SPEAKER_291: startups in vc yeah definitely i i don't like to read blog posts or something uh not to take shots at uh like other financial youtubers or motley fool or something like that but uh you know like if you're seeing or if you're taking advice from people uh to buy or sell stocks it's probably you're probably gonna get burned um like i said there's a lot of scammy like youtube finance people um and so that's why i never tell people to like buy or sell stocks um i get most of my stuff honestly from uh a site called finviz which is um it's just like a stock screener you can do some really in-depth screening on there and so you can see for example you can set things like uh like like earnings growth and you can look at their their stuff like just set so many different uh metrics on there that uh that's sort of how i sort through and i'll create like a thesis and i'll i'll say okay i want to find companies that are down 50 but their earnings are still growing right now uh year to date something along those lines and then kind of just sort through that how long have you been investing um so yeah kind of going back to like how i was sort of interested in business from a pretty young age uh i got lucky that i just i had hit that wave very early and i was a weird kid so um over over a

SPEAKER_402: decade now yeah wow like i started seventh grade were your were your parents like really into it or is

SPEAKER_304: this something that like you found all by yourself yeah um well we had a seventh grade project in like home ec we had to learn about the stock market and so um my parents you know they have a 401k or an

SPEAKER_291: ira or something but uh they didn't really like i tried to get some information from them and uh luckily we have the internet so uh that's that's where i got everything from just google you know yeah and uh

SPEAKER_250: self-taught i feel extremely extremely privileged that i had a parent that was like financially literate and did not know until much later in life how important it is to have a financially literate parent so right now thank you dad for teaching me how the stock market works i feel like being introduced to that at such an early age and just knowing that things like taxes and the stock market exists or just having that in vocabulary um really does make a difference uh later on and like you said like living now in the age of having almost too much information really really really helps when you're passionate or interested about something as a kid so if anybody's here interested in finance i obviously highly recommend needs videos because those are some of the ones where when i was doubling down and learning more about personal finance in college are ones that i checked out

SPEAKER_339: um like you said he gave he gave you guys the name of where he likes to look at other places do you see roadrunner ventures ever making like content for itself like maybe talking a little bit about like do you ever see yourself making videos about what you look for in founders or anything like that or do you think you're going to try to keep like the nato brian brand separate from vc

SPEAKER_291: um i'm probably gonna keep the nato brian brand separate from vc just because i've always tried to keep my personal brand very uh just sort of what i want to talk about and so that's why i also don't monetize it too much um i see a lot of influencers who kind of get trapped in it and they have to make videos to pay their bills um so i kind of want to keep roadrunner for the most part separate um we've we've talked about maybe launching a podcast and bringing on some some guests just to kind of uh

SPEAKER_410: stir things up a bit but yeah that would be awesome yeah very pro i know you had a podcast for a little bit you gotta get back into the podcasting game yeah i know i know i just need to find a

SPEAKER_289: producer for it so anyone out there if anyone out there wants to yeah anybody else looking um well

SPEAKER_313: you create a lot of your youtube videos i've noticed are evergreen too which i really really like

SPEAKER_250: uh how has being a youtuber and doing content creation helped you become a good investor um i would

SPEAKER_291: say uh you you just so i would say the best thing that it's helped me with is actually connections and just getting into deals for example because maybe you don't have to introduce yourself to as many people like we've invested in some companies that uh like uh very early stage companies where the founder was like watch my videos years ago and so they they already had some maybe respect for me or something and so it's easier to slide in to the deals so that's probably how it's helped me most

SPEAKER_250: oh okay that's interesting and what is it like working with somebody that also has an experience um

SPEAKER_417: as a creator uh are you talking about sebastian yeah yeah so uh really really happy that i partnered

SPEAKER_291: with him um so he he had a company that he sold to a firm back in 2015 so he's um been in the tech world for a while and so uh he's he's super logic based and his wife mandy's super logic based as well and so i think we just mesh really really well um overall and uh i also like that there's sort of an age difference there as well they're a bit older than me um and so we kind of have different perspectives um in like different networks and so it's just a great sort of relationship yeah yeah

SPEAKER_313: i actually i didn't start checking out his videos until you guys like officially launched roadrunner

SPEAKER_250: so it's been really really cool seeing um the differences between you guys not only in like content creation but just the different kind of like energy you bring um to the table obviously like you said having the difference in age um and people that that watch your videos it's just really interesting right seeing how you guys are navigating and i think i'm gonna be pumped when you guys finally release some of the uh companies that you invested in it's gonna be really interesting yeah likewise and if you can where can people find you if they want to pitch you guys a startup

SPEAKER_289: you can always slide into my instagram dms it's just nato brian with one extra n on the end and same for twitter as well i'm suddenly a big fan of twitter i love the book like it's just so fun well i i never

SPEAKER_291: used to be into twitter and i just started tweeting things like in the past year oh you got a stir up drama

SPEAKER_428: i know i just did that with coinbase oh really what did you say anything good i said oh yeah it

SPEAKER_322: was it was a bit of fear-mongering but it like blew up like yeah oh man yeah you're out here you're out

SPEAKER_244: here putting fear when i go and i check check how they're doing are they gonna are they gonna look

SPEAKER_250: like they're on a roller coaster you're impacting the market now with your tweets well that's awesome like he said nato brian two ends for twitter and for his instagram slide into his dms and then for youtube you're just nato brian right yep cool and then just for forerunner have any place where

SPEAKER_327: they can go check out you guys um we we have a fun page um but it's it's kind of hidden so

SPEAKER_291: um but uh roadrunner.vc is the site it's it's not fully built out which is kind of uh yeah but you

SPEAKER_244: should be able to find it on there awesome that's really really cool again super excited to see what you guys are up to and thank you so much for joining i'm definitely gonna have to have you on again another

SPEAKER_433: time anytime yeah i always love going on here so awesome thanks nate all right thanks for listening

SPEAKER_06: everybody and make sure you tune in for an amazing sunday show when we're going to talk about

SPEAKER_00: diligence this uh week folks it's like a really big topic and molly's having to deal with that because

SPEAKER_01: climate startups are very technical very technical we're just gonna dive into research on research and uh an awesome this week in climate startups interview of course all right follow us on twitter at jason

SPEAKER_53: at molly at twi startups and leave a five-star review on apple or spotify if you're so inclined

SPEAKER_440: bye-bye great weekend see you soon see you sunday