Boys React: GPT-4, Billion $ Mint Mobile Sale, Original iPhone Sale, Bay Area Storms - Transcripts

March 17, 2023

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Episode 433: In the Friday segment called The Boys React, Sam Parr (@TheSamParr) and guest Nick Huber (@sweatystartup) give their two cents on a few relevant business stories. Check it out... SHAAN'S NEW DAILY NEWSLETTER --> ----- Links: * Do you love MFM and want to see Sam and Shaan's smiling faces? Subscribe to our Youtube channel. ------ Show Notes: (00:30) - GPT-4 (03:00) - Mint Mobile (08:00) - Original iPhone sale (11:35) - California Bay Area storm ----- Past guests on My First Million include Rob Dyrdek, Hasan Minhaj, Balaji Srinivasan, Jake Paul, Dr. Andrew Huberman, Gary Vee, Lance Armstrong, Sophia Amoruso, Ariel Helwani, Ramit Sethi, Stanley Druckenmiller, Peter Diamandis, Dharmesh Shah, Brian Halligan, Marc Lore, Jason Calacanis, Andrew Wilkinson, Julian Shapiro, Kat Cole, Codie Sanchez, Nader Al-Naji, Steph Smith, Trung Phan, Nick Huber, Anthony Pompliano, Ben Askren, Ramon Van Meer, Brianne Kimmel, Andrew Gazdecki, Scott Belsky, Moiz Ali, Dan Held, Elaine Zelby, Michael Saylor, Ryan Begelman, Jack Butcher, Reed Duchscher, Tai Lopez, Harley Finkelstein, Alexa von Tobel, Noah Kagan, Nick Bare, Greg Isenberg, James Altucher, Randy Hetrick and more. ----- Additional episodes you might enjoy: • #224 Rob Dyrdek - How Tracking Every Second of His Life Took Rob Drydek from 0 to $405M in Exits • #209 Gary Vaynerchuk - Why NFTS Are the Future • #178 Balaji Srinivasan - Balaji on How to Fix the Media, Cloud Cities & Crypto * #169 - How One Man Started 5, Billion Dollar Companies, Dan Gilbert's Empire, & Talking With Warren Buffett • ​​​​#218 - Why You Should Take a Think Week Like Bill Gates • Dave Portnoy vs The World, Extreme Body Monitoring, The Future of Apparel Retail, "How Much is Anthony Pompliano Worth?", and More • How Mr Beast Got 100M Views in Less Than 4 Days, The $25M Chrome Extension, and More


I feel like I can rule the world. I know I could be what I want to. I put my all in it like no days off on the road. Let's travel.

Never looking back. All right. Welcome to our Friday episode, boys react.

We've got a guest host filling in. Nick, how you doing? Ben, thanks for having me.

I'm doing great. It's the Nick Huber show today. Yeah. Yeah, exactly. All right. Well, let's go through some news items, do some rapid reactions. First of all, the big news everyone is talking about on Twitter is chat GPT four. It's the newest version of the AI. It's programming simple video games, doing pong on its own, stuff like that, convincing task rabbit workers to complete capture for it. So fellows, what are your thoughts on the new chat GPT?

Have you used it, Nick? I haven't used it. I think these people need to go outside and touch some grass. You're not a fan? No, I think it's all a joke.

Dude, you are so going to get left behind. I don't use it, but I know that it's going to change everything. Darmesh from HubSpot created this thing called chat spot. And basically, you can do a bunch of stuff, but you can like talk to HubSpot and tell it what to do. So you could talk to it like a human and like, you know, HubSpot is really complex. Like it does a little bit of everything and you can just use normal words and be like, make my website look like this or email these types of people who are on my list. And I think that's like a really good example. There's this, you know, what like the best iteration of AI right now is if you watch Monday Night Football, you know how they put the one line or the the, you know, what do they call it? I don't fucking foul football. First down, you know, the yellow strip on the thing. That's AI or you know how when you back up in your car and you see like a 360 view of like everything around you? That's AI.

So my theory is if you have to say this is AI and the product is good because of that, that's a horrible way to go about it. But if it just freaking works all the time, that's a great way that, you know, the product is going to be good. So anytime something says AI or Web 3 and they have and that's how they explain it, I go, I'm out, but I'm convinced they're going to figure out another way how to do this. Did you laugh because I didn't know anything about NFL?

No, I think that was a great explanation. And I don't want to like, I'll preface this by saying, I think these people are brilliant. And this will be a tool that makes people more productive. Absolutely. Now, let me tell you that 99% of humans and Americans and everybody else gives two shits about AI, they're worried about enough money coming in their bank account on Friday to pay rent on Monday and that their house is maintained. If they have food to put in their kids' bellies, it's absurd. Like literally we have a whole physical world. There's grass that needs mowed and it grows. Can you believe? We plant, we plant this green shit around our houses that every week we have to go outside and cut it by hand with a lawnmower. We got to go outside and do that. We gotta wash our houses.

We gotta clean our floors, we gotta install carpet, we gotta repair windows. We have a physical world that's crumbling around the United States. Nobody cares about AI.

Dude, you need to get out of Georgia man. You gotta, you need to get out of Georgia. hang out with the real people. Sam, you didn't help me. You actually know how real people live.

Sam, you didn't help me here. Sam, you didn't have me here to agree with you.

All right, man. Let's do mint. Okay. We talked about it a little bit last episode, but T-Mobile is set to acquire Ryan Reynolds mint mobile. He owns 20 to 25% for $1.35 billion. Wow. Guys, that's on this. What's 25% of $1.3, $300 million? Yeah. Holy crap. More. So, and then he, how much did he sell?

What's it, what's his gin called or whiskey or whatever the hell it was? Avi Avi own or something. He sold that for hundreds of millions of dollars recently. So this guy is killing it. That's awesome. I, 25% seems like a lot of equity to

give to him, right? Yeah. I think it, I think it's crazy. I mean, I think this is exciting to me and it should be exciting to use Sam too, because it's an example of somebody with cloud, somebody with a personal brand, somebody who everybody likes and loves, which is the definition of Sam par. They've been able to capitalize that they've been able to capitalize that to an insane degree. And I'm excited about what it means for people with distribution. Meaning if you have ears and you have eyes and people care what you have to say, you can get involved in products and you can grow massive companies. Sam's doing it. I'm excited about doing it. It's just the beginning of. Dude,

how, how much more famous is Ryan Reynolds and both of us a hundred times? Is he a hundred times

more famous? Of course. Do you think more than a hundred times? So what's, what's 100 divided,

what's his exit divided by 100 and how much money is that? Is that two? Is that 2 million? Still, that would be a lot cooler, but, uh, yeah, I, I think it's cool. I like him. He's very likable. He's significantly more likable than both you and I combined. Yeah. And better looking. I think I'm, I'm a lot more likable than you and he's a lot, a lot, a lot more likable than me.

I'm a lot better looking than you and he's a lot more better looking than me.

I think it's awesome. I like Ryan Reynolds. So kudos. I want to know, I've been asking him to come on this pod for awhile. I want to know, does he actually do anything? You know, like what?

He actually does. What's his day like? I'm very curious. Let's, let's, yes. What, what do you think is day is like same. I bet he's going to that he's waking up. He's taken a 20 minute meeting where somebody tells him, yes, the whole time that all of his ideas are amazing. Then they're going back and running the company without him. Or is he super involved? Is he Is he getting involved with management? Is he doing marketing decisions? No.

I want to know how operationally embedded he is in this company.

So one of the ways that MIT Mobile- What would your guess be, Sam?

What would you be, Sam?

How many direct reports does he have at the company? Well, zero. I think he has zero. I think he probably has a chief of staff who manages his whole life, but zero. I think that, I don't know much about MIT Mobile. If I had to guess, I would say it's mostly a sales company, meaning they probably just like layered on top of an existing telecom, and then just had a slightly different pricing structure, and then targeted their marketing towards a certain type of person. I think MIT Mobile is more like a, I think it's like a working class thing because it's all about price.

So I think it's like a really, really, really low price. Here's a question for you, Sam. Do you think a serious operator or entrepreneur or executive is in the background overseeing all of Ryan's holdings? Or do you think that he is that entrepreneur? I think he's the guy, man. I think he might be the guy.

I think he might be a leader in these companies. So here's Mitt's thing. I said they're a sales and marketing organization because their commercials are wonderful. And I think they're wonderful because he says a lot of funny stuff on the commercials and he just does a really good job of branding the company. And I think they knocked it out the park with that where they did a really good job of being irreverent, but still professional. And I think that is what he does where he's like, this crosses the line. Here's the line that we can tow and how far we can push it. And I think that's what he does, which I think is easily worth the 25% because if I had to guess, it's mostly a sales and marketing company and he crushed it. And everyone knows Mitt Mobile as Ryan Reynolds.

Mitt Mobile and Ryan Reynolds. Who do we know who they are? Who the big holder? Who was the big holder, Ben?

Like, do you know who owned 75%? Yes.

Let me look up the name really quick. So this is a person that found an influencer with distribution. They knew they could build a company. They got him involved and they put together the ultimate system.

I love that business model. I think it's awesome. Good job to Ryan Reynolds. Let's do two more. A quick break to let you know that today's episode is brought to you by the Side Hustle Pro Podcast, a podcast hosted by Nikayla Matthews Okome, which is also on the HubSpot Podcast Network. So the Side Hustle Podcast is focused on people bringing their side hustles into making them their full-time gigs, making them big businesses. And so she's got a bunch of really interesting episodes. Her most recent episode is about a woman who was popular on Instagram and created a bunch of products and brought it into Target and got it into retail stores, which is really, really hard. She has a few other episodes on changing the relationship with money and building a healthy, emotional relationship with money, which is something we talk about here, which is definitely challenging. Mastering self-talk and then also how to have a plan for the year and put it into action and much more. So go check it out, Side Hustle Pro, wherever you get your podcasts. So a woman in 2007 buys an original iPhone, right?

When it comes out, she keeps it in the box, doesn't touch it for 15 years and is now selling it, just sold it at an auction for $63,000. What are your thoughts on that? Awesome. You want to know what I collect? This is weird, but... So my wife, Sarah, worked at Facebook. Now she works at Airbnb. So these pretty culturally important companies where we look back in 100 years and maybe it'll be like Ford or something or GE. And so whenever she gets gifts from Airbnb, they brand it Airbnb. I tell her don't open any of them. And I collect all of them. So I have an Oculus, that's unopened.

I have Airbnb swag, that's still in the gift box. I have a Facebook book bag that's unused. I collect all of this stuff. I love it. I love collecting this iconic company stuff. And so what I want to get is a Silicon Valley Bank shirt or a Silicon Valley Bank hoodie, or what's the Sam Bankman-Free? Yeah, SBX. SBX, I want to get one of those. I really want to... I would kill for a Theranos blood thing. I collect all that stuff. When Twitter was auctioning off a lot of their office equipment, I tried to buy a bunch of it and I went all above what I was willing to pay, but I collect all that stuff.

Now, what I really want to get, I want to get a monitor, an old Apple, a Macintosh monitor that has the Apple with the rainbow colors, or I want to get the desktop Mac. Remember the ones that were pastel colors, like the blues and the pinks and all that stuff? I don't want one of those and I just want to hang it on my shelf. I love that stuff. This is awesome.

I'm happy someone did this. Yeah, SBX. I fully support collecting and storing totally worthless shit. I think that everybody should buy a ton of totally worthless stuff and put it in storage units right now. Put it all right in a storage unit and you can use a company called Bolt Storage to do that. I think it's just leave it forever. I think you should just keep it for all times. But no, in reality, we bought a, I got a funny story. We bought a property at auction. It had 187 units. It was in Erie, Pennsylvania. We went and every unit had been abandoned.

We had to go through and saw off like the locks and open them up and there was dust and there was craziness. We found some really cool things. We found a ton of really cool things. One unit had like 60 bags of white powder. We immediately called the police. We never found out if it was drugs or not. Another one had a squirrel holding a baseball bat. Another one had an old Indian motorcycle.

Just leave it forever.

Oh, that's fun.

We found a ton of really old old old. Oh, what type do you know what year I got a picture I'll show you the picture when we get off this call. What did you sell it for? It auctioned. I have no idea like we can't we technically couldn't touch anything in the units We had to take pictures of them and have an online auction and the people bid on them

And then they came and cleared out the units. Do you know how old it looked? Did it look like there's from 30s?

No, no, not that it was it was probably like not that old of a pretty dumpy one if I had to guess

Oh, dude, some of those old idiot motorcycles you can get 50 60 $70,000. Well, that's awesome. That's badass That's a lot of fun actually to go and like to see all that crap But anyway on board with this lady who bought it Ben. Did we know just some some nerd some fan? I don't think we know I think

Was even in there, how did they know it was in there if it's got that film on it

What are they to use a ultrasound machine to actually see if the thing was in there dude? I remember when that came out in 2007 I was a sophomore in high school and someone was watching YouTube on their phone and we were all like standing around it and that Was like it was like hearing the Beatles for the first time, you know, it was like it's pretty amazing It was it was mind-blowing seeing that so that's awesome. All right, let's do one more. All right last one the reason that Shawn is not with us here today a Massive wind and rainstorm has left more than 200,000 people in the San Francisco Bay Area without power fellas Any thoughts and prayers for a comrades for the working-class people of the Bay Area any any thoughts for those people?

Did that really happen? I didn't know why he didn't I think every I mean that stinks. I think every I think every responsible This is gonna sound very radical. I think every responsible man should have provisions to keep their family alive For two weeks with no power and no internet What do you have now? I'm not I'm not a doomsday person who thinks they need to survive a zombie Apocalypse and build a bunker to live for six months, but I think if you have a generator some fuel some Ready to eat packages and a way to get clean water and of course a way to defend like hungry man TV dinners Yeah, of course a way to defend your house if people come for that stuff You're gonna be better off and every man should have that set up in my opinion It's like a very small investment and it goes a very long way if shit ever did hit the fan Imagine being a wealthy what do you have Sam Sam? Could you keep your family alive for two weeks if everything if your phone internet cut off power cut off everything gone? What would you do the grocery don't tell me gonna go to the grocery store?

I shouldn't be in a well, what do you have? No, dude? I I am a mini I'm not quite a prepper, but no, I'm prepared. We have a yeah I have that but because when the Austin snowstorms happened and then covid happened and then when a lot of the rights were happening I definitely got fearful. That's one of the reasons why I bought my ranch is we have stuff out there Where we can bug out to so I'm on board with that I don't think I'm ever gonna have to use it, but I agree. It's a very small price to pay for insurance

What do you do with the gas? Do you replace it every six months? No, you put it in There's these things the military uses and you put stable in there and you can keep the gas safe for five to ten years You can order them right on Amazon for 90 bucks. You fill it up with five gallons of gas That's all you need then you got a generator

You can keep your food cold and you know your your kids kids warm if it gets really cold in in January when whenever covid happened I had this Chinese intern working for me he had family in China and he was a like a foreign exchange student and he was awesome and he was you know on what's the App that they use we chat and he was like Sam this covid thing. This is like a huge deal This is it's gonna come to America and I was like hung. This is America, dude. We don't like wear masks We don't have these types of things that Asia has like this. This doesn't happen here. Well, you're you're crazy the next month he goes dude, it's coming it's gonna be here and then March happens and We see in the news the first case in Seattle and then eventually Bay Area and I was like hung You're right. I'm wrong I am so sorry And I went immediately to the grocery store and bought as much crap as we could and like I had like storage We I remember like I was like you're right now. I understand why why people are afraid of this stuff and why I like the peppers exist You're totally right. And ever since then my opinion has has changed on a lot of this stuff So maybe it's like a man thing when you get a little bit older and start having a family I'm not sure what it is But cove it definitely opened my eyes to like, you know, it's nice to prepare for this the worst case scenario I know a lot of guys who go way overboard and they like they have two years worth of stuff. I'm not into that

Yeah, it's a slippery slope. That's the thing about prepping because it's a very slippery slope and you got to have the discipline Hey, I don't need more than two weeks worth of crap to keep my family alive

But you want to know the other issue? It's really really fun all the gadgets like the different flashlights the different generators like I just love gadgets So I just buy this stuff all the time I just bought Sarah this like thing that will break your glass if it goes if your car goes underwater And you're like when am I ever gonna use this? I'm like probably never but like it's sick It was only 12 bucks at Amazon like I love all that crap

The best way to save a life the best way to save life is to put a tourniquet in your glove box Everybody should have a tourniquet because I have one yep a cyclists or a cyclist gets hit on the road 95 percent of time you could save their life by being able to stop the bleeding But a lot of people can't so put a tourniquet in your car

I have one dude you saw the other day how I held that t-shirt up to that guy's head like I saw a guy I saw a guy fall and I gave him my shirt and we stopped the bleeding Yesterday at the meetup a guy was like, uh, worked in the military. He goes, Hey, I got this for you and he gave me a tourniquet. And so he goes, next time this happens, here's how you use it. And I was like, all right. So I have a tourniquet in my car now. So I'm on board. Uh, that's the news. Is that it? That's it. Thanks guys.

Thanks for having me boys.