list of current fad diets

- hey guys. thank you for having me. this is a beautiful room. i'm very excited to be here. and very honestly, i do wantto get into q&a pretty quickly, and i don't want tobore you with my life story or things of that nature. but here's where i will go. in doing some of myhomework before i got here

and some of thetalking that we did beforehand, what i really feelexcitement about is even more so than in the u.s. market,where i've been able to what i call day trade attention. which is, very simply, nomatter what you do in this room, you've got tocommunicate your value, right? no matter whatyou do in this room, whether you're in b to b,whether you're in b to c, whatever you sell,whatever you do,

if you're running for office,if you're trying to raise money for a non-profit, if you're trying to sellsneakers, if you're a lawyer, if you're trying to raise yourprofile to get a promotion, or get a different job. regardless of whatyou do, what your real job at the macro is to findwhere people's attention is and then try to figure out how to communicate your value prop.

when i see a marketlike this that has decided, and this is holistically, this is not everyindividual person, but has decided things liketelevision or outdoor media, or even morespecifically, direct mail, become thepreference points in a world where facebook has such underpricedattention potential, it just gets me very excited.

the reason we opened avaynermedia london office is when we carefully lookedat the cost of facebook ads in western europe,they were stunning to us on how muchbetter of a deal it was than the u.s. penetration. what's interestingabout that, and some of you that follow me know this,and usually when i talk, i talk in u.s. marketing terms, we believe thatfacebook is disproportionately

the best deal in the marketplacetoday in that market. so, as you can imagine, itcreated enormous excitement for me about thepotential in markets like belgium, u.k., andother places of that nature. for me, very simply, thisspeech is one minute of content, which is, everythingi've done for 20 years has been the same exact move. what does everybodyspend their time and money

and energy on? is that worth it? and then what cani do that is emerging, that is underpriced, becausepeople don't have reports to justify it atcorporate america? or, on the entrepreneuriallevel, they're scared to do it becausethey're fake entrepreneurs. for me, that has been thetried-and-true real history of my career.

it started all the wayback when i got involved in my dad's liquor store. it is literally only20 years ago, now almost 21 years ago, which is not that long ofa time if you really think about it, that when welaunched winelibrary.com, everybody told me andmy dad that it was a fad. forget about is snapchat a fad. forget about ifinstagram is a fad.

the entire internet wasa fad if you were really a business personin 1995, 1996, 1997. it's fascinating to think that. it's the same waythat many of you in here probably don't realize ifyou're not studying the space, that we're probablyonly 20 or 30 years away from virtual realitymaking the internet obsolete and all of us justliving in contact lenses and in a vr world,and the real world

and the internetworld become arbitraged out because what willhappen is our attention will now be in anew virtual reality. for me, this ishow my brain works. to me, i'm not a digitalistover a traditionalist. for example, inthe american market, one of the things i'm reallypushing our clients towards is actually radio. there's aplatform called iheartradio

that i believe that the ads onthat platform are underpriced for the attention because peoplelisten to that programming. when the disc jockeyjumps in and reads a live ad, i actually thinkthat's a good deal. that confuses alot of my friends that think i'm a digitalist. in america, if youwere to launch a product, and you had$20 million to launch it, the first thing i woulddo is buy a super bowl ad.

because in america,every single person watches thesuper bowl commercials. and so, this is how i trade. this is how i think. and the truth is,much like what's happening with your agency,i've always thought it was a hugeadvantage to not be in america, not be in silicon valley. in a world where so muchof what we do is just human,

not american oreuropean, or asian. it's just human psychology,not everything maps. obviously americansare more comfortable being outspoken and in front. some countriesare more reserved. some countries havepolitical instability that makes them scared to share. there's differentvariables across the world. but when i look at this market,

it's interestingto me and exciting. because the truth is,you actually get to watch the future play outin a different market and then all you have to do isinterpret it to your market. and then all youhave to do is be patient. see, the real reality here is, the far majority ofupside sits in this room with the individualshere that map similar to my overall thesis,which is they're patient,

and they're waitingfor it to come to them. but they're good enough instaying alive to get there. the backbone of my successthat i don't talk a lot about is the fact thati'm so good at sales that i can scrounge by. and that's whatthe vaynermedia was. in 2009, '10, '11, when nobodywanted to buy social media, i was good enough tojust get by, stay alive, stay alive, stay alive.

but, i was the loudest and proudest aboutbelieving in this. i had to be right. because again, in 2009,'10, '11, most people thought these sites would go away. this was coming onthe back of myspace-- (phone ringing) makesure you pick that up. (audience laughter) this was on the back ofmyspace in the u.s. market

and people were still debatingif every site would have a one or two year thing. everybody was veryemotional about investing in new platforms. i had to stay alive. i was able to stay alive, andthen the market came to me. patience is such a big deal. the thing that concerns me,and that i'm curious about in this room, is of the300-plus people in here,

how many peopleactually sell something they fully believe in in their heart, versus they sell itbecause it's what they're doing, or it's whatthey've committed to, and it's wheretheir money is tied into? to me, this is a veryimportant part of being in the agency,brand, startup world. if you do not fundamentallybelieve in what you're selling, and i mean really, nothow you posture to each other,

but how do you talk to yourselfin your own brain at night. if you do not,you're vulnerable. you're very vulnerablefor many different reasons. but my belief is now looking at the globaladvertising market. it's amazing to me. when i go to cannes every year, i'll sit on a panel like this. usually with somebody fromwpp and somebody from omnicom,

and a big brand, and usuallyit's a gang up session, three against me. which is usually a blowout because i canslaughter the three of them. it's not enough. they bash me. tried-and-true reporting,bullshit reporting, nielsens, millward brownhorseshit, fake math. and then we'll end,then we'll leave.

and then,at 3:00 in the morning, after 11 glasses of rosã©, they'll see me atthe carlton hotel. they'll come up tome and they'll say, "psst. you're right." i find this to be thesingle most fascinating thing about the advertisingand marketing landscape. in a world wherefacebook is disproportionately the best direct-to-consumeradvertising,

the fact that wine library,my family business, has moved all of its directmail business into facebook. the math isn't even close. there's people in heredoing direct mail marketing who have made adecision that that works without spendingthe same amount of money on facebook tosee if that works. we are living in aheadline-reading society. everybody has opinions.

everybody hasopinions about everything, but they're notactual practitioners. you can't have anopinion on snapchat or snapchat ads ifyou've never used it. you can't have asmart opinion to me if you've run$1,000 in facebook ads and have madeyour entire decision on the plethora of opportuniteson the platform on $1,000. clients tell meall the time,

"gary, we knowtelevision commercials work, "we don't if knowif facebook works." i go, "no shit,you spent $8 million on "a televisioncommercial campaign "in production and distribution, "and you spent$100,000 testing facebook." of course it'snot going to work. and so we livein this environment where people go and play safe.

you make decisions, so manyof you in here make decisions on what's best for yourcareer in the short-term, not what actually sells shit. and to me, that's whereall the opportunity sits. that's where the action is,that's the white space. that's why in america,in the fashion industry, every brand is in troublebecause there are thousands of little brands doing facebookand instagram influencers, and they're choppingaway at the big brands.

ralph lauren'sbiggest problem isn't prada, it's 41 women and menstartups that are doing from zero to threemillion in revenue in one year because they're marketingin underpriced channels while ralph lauren andprada are buying full page ads in fuckin' voguethat nobody's seeing. this is happening,this is happening every day. and here's thefunniest part, i know that everybody in thisroom knows it's happening.

i just don't know if it actuallyis in your best interest for it be happeningin the short-term. that to me is the bet,that to me is the strategy. that is the only thing i careabout pushing in this room. it's why i want to goto q&a sooner, i'd rather go into details 'causethe thesis is very simple. i can say thisagain five more times and get to the q&a part, but it will not change,it will be the same thing.

i will give youfour different analogies for the same fucking thing. attention has a price,everything still works, the problem is mostthings are overpriced. for example, inamerica and the globe, programmatic buying for digitalhas completely taken over. why? it's profitablefor media agencies. but it's not good forbrands and businesses. who the hell heregoes to a desktop computer

and goes to blahblah blah dot com and goes to theright side of the website below the fold andclicks a banner ad? nobody. so in a world wherei put enormous pressure on my clients to movemoney away from television because nobody,nobody in the u.s. market and nobody in the globalmarket, if you look at the math, is really consuming atelevision commercial.

every single timeyou're in a position where a televisioncommercial is about to give yousomething, you grab this and you check yourwork, you talk about what you just watched'cause you're watching... i love when mycompetitors on stage say, "gary, televisionratings are through the roof." i'm like, "yes,television shows." everybody likes to sneakin commercials with shows.

you're watching the show,you're watching the match. you're not watching thepiece of shit commercial. in a world where i'mtrying to move all my clients away from that, whenthey come to me and say, "hey gary, greatnews, we're going digital." i get scared because i'm evenmore scared of banner ads and pop-up ads than i amof television commercials. so when people godigital i get scared 'cause i think they'regoing digital 2002 to 2005.

in 2002, when i wasbuying the word wine, and buying the word champagne,and buying the word bordeaux for five cents aclick, that was good. and now, some of those wordsare properly priced at $4.12, for wine library,champagne is good. at $11, the word wine, it is not good. every single day, if i came here, seven months ago i would have toldyou that i was concerned about instagram globally,especially in the u.s. market.

because snapchatwas getting older, facebook's youngerthan people think, and i was questioningwhere would instagram play. instagram, as a lot of you know,copied every single feature that snapchat had, grew,exploded, and now instagram, seven months later ismy number one platform that i'm payingattention to and marketing on. this is day trading attention. this is notmaking a commitment to,

in 2017, it's all about snapchat and then just sticking toit, no matter what happens. no, no, no, thisis, on february 19th, this is the best trade. on march 16th,this is the best trade. my friends, here's thepart that really scares me, which is, as the world continuesto change very quickly, the truth and therules always stay the same. for example, for allthe math that we now have,

the creative is thevariable of success. the video, thepicture, the words, the sounds, the creativeis the variable of success. when people hear me talk. it's interesting'cause i talk about creative in a lot of interesting ways. number one, i thinkcreative is 100% subjective. i understand why ifyou're the creative director of an organizationyou don't want that

necessarily to betrue, you've worked hard for 20 years tobuild a reputation so that you can walk in and say, that's not funny enough, that's not green enough, that wasn'tsnarky enough, i get it. the problem is themarket doesn't give a fuck about you han. so creative issubjective until it comes out to the market andthen the market decides

if it was funny,snarky or green enough. but creative is the variable. at vayner we are verymuch obsessed with attention and the platformand the context. how do youstory tell on facebook different thanpinterest different than a pre-roll ongoogle different than an original piece ofcontent different than a native ad onbuzzfeed different, different,

different, different. it's context along with content. however, thereis no misconception that the creative itselfis the variable of success. and so the thingthat excites me though is that we live in a world. so for vaynerright now we're obsessed with one thing, obsessed. you give me a brief,you want to do something.

you want to sell this,right, you want to sell this. the first twothings i think about is number one,how do i make one to, depending on your budget,one to seven different videos that area minute and 19 seconds long that are gonna hit the emotionalcenter of the individual? but not one, notone 30 second spot because i promise youif you're 44 years old and make $400,000 ayear and you're a male

this brand meanssomething different to you than if you're 18years old and a female and making $27,000 a year. and how in the worldwould i talk to both of you the same way tomake you buy this? that's insanity. it wasn't insanity when we lived in a television first world,it was your only option, life's about options.

i'm not mad atpeople that made tv spots and billboards anddirect mail in 1984, that was the game, i'mmad at everybody in this room that are acting likeit's 1984 when it's 2017. that's the problem. so i have to make seven videos. and they don't have to be15 and 30s and 60 seconds, we did that becausethat's how television sold them. the fuck are youmaking 30 second videos

for facebook for? it makes no sense. and i don't mean,well everybody says we've got to make them shortbecause they read a headline that attention spansare short on facebook. meanwhile as a practitionerdrock and i are putting out 25 minutevideos on facebook everyday and i'm watching everybodywatch the whole fuckin' thing. content is content.

if it's good, it works. if it's bad, it's bad. you could make a six second vine that people won't watch threeseconds 'cause is sucks shit. and you can makea four hour movie and if it's thebest four hour movie ever everybody will sit nice andcalm in a theater like this and watch every second. and so these are thethings that i think about.

the other thing, andthis is a huge opportunity in this market 'cause this isone thing i did do last night 'cause i had to stay up 'tilfour o'clock in the morning to do something onthe west coast in the u.s. and this is something idug into a little bit here. i implore you, youtoo, i implore you guys to start looking at influencermarketing very serious. influencer marketingis grossly underpriced more so than anything i've seen

except forfacebook three years ago and google 10 years ago. individuals, humansthat have followings. especially in the way, youknow i asked you a question about instagram,i looked at it last night, it's emerging muchquicker and quieter here than i think people realize. instagram influencersthat can bring value to your brand andstory at extremely low costs

including justgiving them the product, they're justhappy to get it for free and they'll give you mediain return that's incredible. the two places ifyou're trying to sell something that are grosslyunder priced in this market are facebook ads in videoform and influencer marketing. is it at the scale ofthe u.s., absolutely not, is that reallyinteresting to me? of course, 'cause theprice is much lower here too.

and when you look atthe gross over investment on direct mailin this environment, that arbitrage isextremely attractive. what i don'tunderstand is why in a world where people arespending hundreds of thousands of euros in adirect mail campaign why that can't be 75,000and they take 25,000 to at least become educatedif what i'm talking about is real or bullshit.

like to me, i don'tcare if i'm right or wrong, i'm just blown away thatyou're willing to not find out. we just sit with ourthoughts and theories of what's tried-and-true. let me tell you something,what got you here today is not gonna getyou to the next place. and we sit in theoryand we sit in romance and we sit in how,you know how many people in this room makebusiness decisions

on how they wishthe world was working? they're sadthat when they go out to a restaurant or cafethey see people sitting there and both looking at the phone,they're upset about that. they've made aromantic decision on how the world should be. i see that and i'mhappy because i realize those peoplewant to be doing that. i'm thrilled thatthis woman in the third row

is looking at herphone, i'm happy for you. because that's what shewants to be doing right now. i'm not upset'cause i'm talking, i don't give afuck about my feelings, that's what she wants to do. that right thereis the punchline. the market is alwaysright, not your fuckin' ego. and i've got nothin' but ego. but when it comes to the market

i only have humility. the market is always right. and we sit inivory towers thinking we're super fuckin'smart and we disrespect the market every dayand that's why we lose. in last years fiscal year 96% of the fortune 500 companies in theworld lost market share. they lostmarket share because

they're marketing like it's 2005, they're marketinglike it's 1997, they're marketinglike it's 1984, that's why theylost market share. and i know this becausethere's only one other time that we have seenthis big of businesses lose this muchglobal market share, it was thelate '40s and early '50s when the world transitionedfrom radio to television.

my friends, we are transitioningfrom television to this. it's already happened. i've been here for a long time. i implore you to join me. thank you. (audience applause) can we put thelights on for q&a? - yeah that'd be great. yeah, now that's good.

i should have done that earlier. i was just focusingon these 18 people. sorry back there. yeah, so, i'dlove to do q&a. i mean that's thephilosophy, and honestly, i know a lot ofpeople here may follow, i went very marketingheavy because i try to kind of gauge the room, but if people want totalk about startup world,

you know something that alot of you who don't know me may not know. back in 2007-8, i investedin facebook and twitter and tumblr, and havehad a very good career, uber, things of thatnature, and that world. if you want to talkabout building a business, i've run twobusinesses in my life. both of them i grew from, one from zero to a$100 million in seven years,

one from three to$60 million in seven years. so i think i know what it takes. one from three to 150 employees, one from zero to 800 employees. so if you want totalk about management or building organizations,hr, we can go there. you like that one? good, awesome. so, wherever you want to go.

who's got questions? great, let's get you a mic. thanks forbreaking the ice, my friend. what's your name? make sure you give me your name. - [hans] my name is hans. - hans (laughs) - [hans] i reallyloved your talk with adriana huffington.

- yes. - [hans] about value of sleep. - [hans] because that'san item that's not a lot getting noticed in your posts. - for me. - [hans] yeah.- correct, i agree. that's why i had her on,because i wanted to clear it up, once and for all. - [hans] exactly.

- you want me to expand on it? - [hans] i'm a big fan of silence for me, as a way torecharge my batteries. and center and focus onwhat i want to do, and why. - [hans] now, iwould like to hear, what's your take onthe value of silence, and is there - silence?

- [hans] silence,is there a place for it in your 24/7/365 life? - no. but that's good. this is important for everybody. it's amazingthat you're self-aware and you know your hard wiring, that silence isimportant to you. the thing that i fearas i grow in popularity,

is that peopletry to emulate me. and the reason icontinue to put out, now, i want to talkabout what i think is the way i do it sopeople can use me as a blueprint for themselves. but the reason every two weeks, three weeks,four weeks, i'll say something that throws them off, is i want to remind them

that i'm just one human beingand this is what works for me. i'm the reverse. something that, you know, i'm sure drock'slaughing right now. there's times whenwe walk into the office and it's quiet becauseeverybody's on headphones and trying to be respectful, and it freaks me out. i need volume.

like i need thelight to see your faces. i need the stimulation. i suffocate in silence. of course when i'mexhausted, these guys picked me up last night, weflew from new york to ireland. one-hour nap, all day ireland,flight, they picked me up. i had to get mentally ready. i wanted to catch upwith him but i was kinda like, i needed a little bit ofsilence, sometimes i need it.

but 99% of the time,when i'm awake, i need action. you know? and so, but you have to understand, and i think we'regoing to connect on this. i'm onlycomfortable and at peace in the chaos. when i get silence,

i get sad, i get anxious. it's not interesting to me,so i think the key here is to just know yourself,and not try to map to, oh this person. one of the biggest reasonsi go after steve jobs's legacy is because i want to build thebiggest company in the world, and i want to do it bybeing nice to my people. but all the kidsin silicon valley after steve jobs got so big,everybody heard how tough

he was on people,so they were faking it. i had good people, goodfriends, who i knew very well, start being assholes at work 'cause they thoughtthat's how you had to do it to be successful. fuck that. i think you get much moreout of honey than vinegar. much more from people. so,

you know, i'mcomfortable doing it my way. i have no interest inimposing my way on you. i think it's importantfor you to see how i do it. the reason westarted dailyvee, the vlog, is, when i was talking abouthustling and working hard, people interpretedthat differently. now that they see it, they're like, fuck. you know, am i really,is that really me? do i want it that bad?

like to achieve greatness, wow, it takes real work. you know everybody,everybody's fascinated by luck, or the big idea. it doesn't exist. you don't know a singleperson that's made it big unless theyworked their face off. you might know somebodywho inherited a lot of money from mommy and daddy. they may be rich,

but they didn't build it. anybody you've evermet that built something worked their fucking face off. you got it. questions. let's go with this lovely lady. we'll get you back there next. hi. - hi gary.

i'm noriko. i'm japanese,living here in belgium, i've been translating yourvideos-- - i'm very aware,it's good to see you. thank you for your help. - it's really mypleasure thanks to your team. - hold on one second, is there any way she can hold it so she can get it closer?

is that alright with you? thank you. thank you. - so, thank you--- little closer. - okay? alright. thanks to your team, getting here, soyou just talked about honey and vinegar. but i really can see,you're not just talking, but you have wonderful people

- [gary] thank you. - i really want to say to everyone.- [gary] thank you. - so my question isabout negative comments. - [gary] negative comments. - any platforms you get,- [gary] yes. - and you talk aboutthis also on the videos and i totally understandbecause i have thick skin, and i really, like in yourterms, i don't give a fuck.

i really don't care. but, i help smallbusiness people, and when it comes to my clients,that's a different story because they getstuck, they got hurt, so they can't putenough content because they don't want to get it-- - most people arenot putting out work because they're scaredof other people's feedback. and the second they getnegative feedback they collapse,

and they go in a cacoon. - so is there away somehow that i can convince them to move on-- - yes, and no, let me explain. this is a self-esteem game. so, there's nodrug for self-esteem. people in here who wereunfortunate and had parents, or were hard-wired in a waythat lacked self-esteem, you're not going to beable to fix that overnight.

you can't just be a cheerleader, and for two minutesthey'll be like, "yeah" and then you walk awayand they're like, "no". there's a couple things: first and foremost,negative comments. i really don'tgive a fuck either, however, i take everyone of them seriously. i think thebiggest thing that is missing in the world today,

politically, globally, business is empathy. we lack empathy, in today's society, at alevel that is very intriguing. i'm trying to gobackwards and figure out why over the last30 years, 40 years have we lost so much empathy. or, do we just not have it? is that just a skill that humans

have always underperformed in? which is, by the way, somethingthat i'm starting to realize looks like it'sgonna be the case. but we lackempathy, so the biggest, when i getnegative comments, the reason ilike looking at them is i respect, back to makingthat joke of that lovely lady, they're the market. they think i'm full of shit!

they think i'm too egotistical,they think i'm wrong. i want tounderstand why, and i want to respect thatthey're coming with it. most negative comments,especially 'cause i have a lot of young dude fans, come at very harsh terminology, i don't respect thevulgar, or the language. but i do respect the energy. i've done, isi've done it upfront.

so before youeven start with them, i'm very aggressive oflike, this is going to happen. and really getting there. and spending a lot oftime in the beginning, so that instead when it happens, and they look atyou and go, "woah!", you've already had that talk. and i mean,really have the talk. it's probably withsmall businesses what i spend

70% of my energy on, in getting themmentally prepared for somebody saying,"your ice cream sucks." but they'reused to it in america in some ways because of yelp, and they've beendealing with that. but yeah i mean, what makes me sosad, at the macro, is those coupleof negative comments

compared to all theupside of producing content and being on the offense,and being aggressive. the weight is, right? yet, unfortunately, somany people are crippled by even one negative comment. because of theirown internal wiring. it's a challenge. what i would say isyou need to be patient,

and you need tobe understanding. because, you can't justinstill self-esteem overnight. you got it. you're welcome. - [bart] hello.- hey. - i'm bart, i practicedmy question so many times that i lost my voice. - that's amazing. - [bart] first of all, i wouldlike to thank you because i started my careeras an entrepreneur by

trying to buildthe next facebook. but thanks to yourspeeches on self-awareness, i came to realize that ilose sleep over borrowing a hundred euros from mybrother so i probably will never build the next facebook. having that in mind. so, a year ago, i started to build a datamigration company, organically. so, i landed abig customer, and now

i get paid every day,and i'm developing my stuff. and we went live inproduction in chile, in december. this year for thesame company we will do usa, mexico and canada. so it's growing really great. but my question to you was, you talk a lot about patience, but you also talksometimes about speed.

and patiencefor me that would be continue with the same-- - can i answer youreal fast and you'll understand it forever? - [bart] okay. - macro, patience. micro, speed. - [bart] yeah. okay. - and let me expand on it,'cause that didn't work. fuck.

no no, hold on, holdon, hold on, back back back. macro-patience.you're a young man. building somethingmeaningful, a relationship, a business, ittakes 10, 20, 30 years. on your day-to-day work,you have to be fast. with the clients, they emailyou, you email them back. like, your day-to-day. but your vision? what you wantto achieve in life?

you're not going tobuild it in one year. and so manypeople have it reversed. in the day-to-day, they're slow, and in the macro, theywant their business to be huge the next day. so you need to reverse it. - [bart] so if you have tomake the decision between, in my case,building a better framework or focusing on that, ortrying to find more customers,

what would you advise? knowing that i don't needthe money of new customers right now. - both.- [bart] okay. - and so here's another, here's an answer of both: number one, howhard are you working? i don't know. if you'reworking 12 hours a day,

i feel like you couldwork 17 if you want! right? number two, ifyou're working every hour, and you can't work more, with the money that's coming in, too many young peopleand too many young businesses when they starthaving money come in, take it for themselves. they want to buy a good watch. they want to buy a good car.

they want to buy fancier shoes. what i would do is,when my first money, so here's my story. this is not advicei'm giving just for fun. this is my life. i walked in my dad's store, it did $3 million a year, 10 percent gross profit,$300,000 dollars in profit before expenses,

we had no money,i was making $40,000 a year, 37,4, actually. and i built thatbusiness from 3 to 45 million, in the first kindof four or five years, and five years later, five years later this is doing$45 million dollars in sales, and i'm making $40,000 dollars. this is the advice i gave. and by the way, i wasin my twenties, and a guy.

the exact time, if you'remaking that kind of money, that you want to use it to do guy things. right? i put it back into the business, i hired four more managers,six more managers, seven more managers,i did more advertising. i built a business. so if this money's coming fromchile and u.s. and mexico, hire people.

then you can do both. - [bart] okay. thanks. - you're welcome. great, now they're coming. okay, here we go up there. - [david] hello,i'm david, my question is a bit in linewith the former question, it's about building a business and growing and having...

being scared aboutgrowing the business. - okay. - [david] itwould push me to more be saving money then investing in technology in the future. what would be your advice? - david, i want tomake sure i understand. you're saying that youneed to deploy capital. so, here's myadvice in investing.

how old are you? - [david] i'm 40. - four zero? - [david] four zero, yeah. - you look great! - [david] tomorrow, ha, tomorrow. - my answer in building a, everyone's like turning back. how good does he look?

by the way, best part,this is the truth, i can't fucking see him. - [david] you canhave a photo with me. - we'll do it later. david, my answeralways is, always, is well, here's a question. are youplanning on this business still being yourbusiness five years from today? - [david] yes.

- okay, then iwould invest every penny you can affordthat doesn't put you personally in bankruptcyor out of business. - [david] okay. - does that answer the question? - great.- [david] thank you. - if you werelooking to sell the business in the next two or three years, then there's a debate.

but if you put in the money now, and you're gonna be in business in five years andassuming that you're right, you're gonna have amuch better business, and that's whyit's the right bet. vaynermedia, vaynermedia, again, i always likewhen i can give you examples of what i'm doing. 'cause, it's notjust me, oh i made it,

let me give advice. the last two years i'verun vaynermedia as a ceo. two years ago the business did $67 million in revenue, its an agency. last year it did 100 million. both years we madethe same amount of money. the bottom line madethe same amount of money. when you make $33 millionmore in revenue, and you make thesame amount of money

that you did theyear before, you're doing two things, the twothings i believe in. one, i'm investing inthe business for real. number two,i took a lot of risks. many of which willwork, many of which won't, but it felt like the right year to take those risks,'cause i was tasting that the business wasgonna go from 67 to 100. so, i knew that i had theeconomics to make those bets.

so, you know,i think one of the things that makes me comfortableand one of the reasons i want to remindpeople in this room, especially in theadvent of the new digital world where every 20 year oldthinks they're an expert, i spent 13 yearsbulding a business. 365 days a years,15 hours a day, before i ever made a blog post,before i ever wrote a book, before i ever gave a speech.

i take a lot ofpride in the fact that i only give advicethat i actually do myself. it's your job to interpret where you and i are different,because everything i do won'tnecessarily work for you, but the advice is meeating what i'm serving. cool, let's keep it going. let's get this guy right here. you guys, like,they told you not to

ask questions, got you. - [man] what's up gary? - hey man. - [man] i hope youthat i vlogged this. - i see it. you were saying. - [man] so, my question is,thank you from us, thank you foreverything you're doing, man. you changed my lifeand my question is that... do you know patrick bet-david?

- do i know what? - patrick bet-david. he'salso making videos on youtube. - [gary] i'm notsure, no i'm sorry. - one of his videos, he said, "i don't use business cardsanymore, i only use linkedin. "when someone is coming to me, "i just give them the linkedin." - [gary] okay.- [man] is that good or not? because for now, i'mstarting my business next week

and i'm deciding on if iwant to use business cards or just, if people askfor my contact details, just give them the linkedin. - i don't use business cards,and haven't for a long time, and not becausei think i'm fancy and easy to find onthe internet or linkedin. it's 'cause i taketheir phone and i email them. the amount oftimes i do business cards and nothing happens,because we throw them out,

we lose them, we don't care. so, if i want to dobusiness with somebody, i actually taketheir physical phone and have them email meor i email them on the spot or i text them on the spot. again, making 30 second videos for a facebook world, because that's how televisionwas formatted is stupid. you have a business card 'cause

you want to dobusiness with that person. to give a businesscard, you're physically in front of that person. i don't know if youknow, but it's 2017. this is called a cell phone. it is much smarter tocreate no vulnerability by making thattransaction happening there. the end. - [man] thank you so much.

- and let me tell you,i'm so glad you asked that, because in a macro i'mgonna use that analogy. i hope drock caught it'cause i see him moving around. that was a veryimportant moment. my friends, welack common sense. we go throughschool and we get educated and it takes overthe part of our brain that is left for common sense. what i just said is funny.

some of you snicker, its funny. it makes so much sense. we forget why we're doing things and so we get into thetactics, not the strategy. you have businesscards to do fucking business. all of you have probablymissed minimum 50 percent of your business card exchanges. we have this now, use it, and that's the samething for everything.

what was thepurpose of the video? not to make a commercial. to sell somebody on the emotion of the video so they buy it. so, if you haveto make that story in 48 seconds,make it in 48 seconds. not 'cause 30 wasthe way we did it. facebook's direct mail,you have they're address. you actuallyknow how old they are,

what they care about,how many kids they have, when they got married. you know way morethan the mailbox knows. what are you doing with yourdirect mail when you get home? let me save you time. - it's real. and by the way, again, history. history will alwaystell you the future. go get educated on what happened

in marketing and business in the late '40s to the early '50s in the u.s. and western europe. you will see it. there was a major transition because people held onto the romance of radio and disrespected theemergence of television. now we're doingthat with the television instead of the cellphone and the networks

that dominate the cell phone. television, facebookis the number one channel on this television. you need to becomethe number one show on that channel. there are a lot more shows and that comes down to content. cool. questions?

- [henrick] hello - oh how are you? - [henrick] my name is henrick. - henrick, thank you. - [henrick] thank you,thank you gary. - [henrick] i have a question. peter and steven told us about the day after tomorrow and tomorrow,artificial intelligence

and things like that. - a.i.? - [henrick] and a.i.- love it. - [henrick] and it's somethingbig companies can buy the advise ad-- - do you guys have alexa voice? do you guys have alexa here yet? - [crowd] no. - [henrick] no, not yet.

- you're gonna shit. (audience laughing) it's great. (chuckles) it's gonna happenin the u.s. soon to. go head.- [henrick] so that's a question you talking aboutempathy and things like that. - [henrick] sometimeswhen we send an email, send a message onfacebook to companies,

i think thebots are in sleeping. and so we don'tget information back. - [henrick] so they are talking a lot of it, about it. what's your point of view on artificial intelligence-- - it's gonna be, it's gonna be - [henrick] and then the human thing about it? - i think a.i. isgonna be enormous.

it makes a lot of sense. humans, our brainsare the best computers in the world, for now. and so we do too manythings that we don't need to be doing. and for the lastforever of human race, we chip away at thethings we don't need to do. we got animals to do thingsthat we didn't have to do. like we gotother people to do it.

we got machines. we are very smart. a.i. works because fourteenhundred people a month ask me which one of my four booksthey should read. i don't need to dothat by hand a hundred times out of luck andserendipity and timing. i should answer

that fourteenhundred times a month through my decisionand then the a.i. bot will take care of it. there are amillion things like that. right?let me go through it. when you emailwine library, and go "where the fucks my wine?" i have a humanthat goes and looks at where it is onfedex, and ups and dhl.

that doesn't need to happen. and we've seen that. automated emails. a.i. will beenormous but all the magic looks like this. if the point is to go from here to here, if that's the point.

where is my wine? how do i do this? what book? what service? if that's the point,a.i. at its height and it's primewill look like this. a.i., a.i.,a.i., a.i., a.i., a.i., and for thereally good shit, human. we just need toget to 95% of it,

get the human inthe best position to create the contextbecause our brain's better than the a.i. brain, for now and on the most important stuff. there's plenty ofthings that can be a.i., a.i.,a.i., i, i, i, to this. the companies and thehumans that understand which ones need to bea.i., a.i., a.i., i, i, i, (slapping)a.i.

versus a.i., a.i.,a.i., human, will win. - [henrick] so i'min the real estate aged. i'm a traditionalreal estate agent. - yep. - [henrick] so there is a futurefor the real estate agent? - humans will be fineuntil the robots kill us. and what thatmeans is, i'm not joking. by the way thereare gonna be two paths when this is all said and done.

immortality orrobots took over completely. we'll probably not see it but it's very basicchess, if you actually understand what'shappening in society. i prefer not to see it 'cause for somebodythat's not scared of anything, even that's pretty intense. i'll be really pissedif i just miss immortality by this much,which is concerning me

'cause i really don't wanna die. but, yes. i remember sevenyears ago when i would talk about what was happening,everybody got scared that journalists would die. right? because therewas a lot of pressure against journalism. and i said, "no, no,you don't understand, "it's gonna be betterthan ever for journalists

"'cause there's gonnabe more things to do". there's been plentyof things that have gone after real estateagents, you've heard it. technology alwayssays it's gonna take everything over. it's not,because the human brain is still winning. but if things like ibm watson and all the futurestuff that's gonna happen

and when a.i. andv.r. and you know, we're just starting. there is a lot more to go. so yeah, i don'tthink, i never bet against innovation and technology. that being said, you'llsee your career through. - [henrick] we havethe same idea, thank you. - [henrick] good confirmation.- good. -awesome, who do we got?

yep.awesome. - [man 2] hello gary.- how are you? - [man 2] fine, thanks.- good. - [man 2] you told us thatit's very important to sell anything by heart. it's your passionthat's easy, of course, and... - selling somethingthat you believe in. - [man 2] yeah. - i couldn't be morepassionate about something.

- [man 2] okay. now we have a startup, two guys, and we are in a short period. we must hire, wemust hire somebody. and of course,we want to be sure that we hiresome guy, some woman with the same passion. how can we be sure? - by being morefocusing on firing than hiring.

- [man 2] okay.- let me explain. i think i have the greatestintuition, eq, i've ever seen. it's my biggestego, it's all i've got. i know i'm not that smart. it's all been intuitive, and it's been very good to me. and i've hireda ton of assholes. and i really pride myself, i think i'm really good at it. i married my wife infive seconds, all my investments

have been amazing onintuition, friendships, like i'm good at it. and i still have missed. and so what i'velearned in 20 years is it's not about the hiring,because too many people here are fancy and thinkthey're so good at hiring, and it takes them four months, and they make a hireand still half of the time it doesn't work outand it's just not smart.

what's smart isgo with your gut, don't cripple yourself. now, easy in the u.s.,i know that in europe, there's different kindsof laws and there's more finances, i don't know how, i don't know what yourcurrent state is of like, fuck, like if youhave to fire somebody they get seventeenyears of fucking severance. (audience laughter)but, you know,

you gotta work your economics, but what i wouldsay is regardless of how painfulit is on the firing, it is alwaysfiring versus hiring. you know, you gotta taste it. - [man 2] 'kay.- that's very important. that is where the businessesthat have grown the best have won. - [man 2] don't beafraid to fire the guy.

- don't be afraid to fire? - yeah, no don'tbe afraid to fire. (audience laughter)- and by the way, there's nothing i hate more. i wish, i wish myhr and cfo were here. i drag firing so long. i hate confrontation. i'm a good guy.

i hate it. it's taken me 20 yearsto get better at it, and i'm still not great at it. i still fire peoplethree months, six months, after i decide. six months. because i hate it, i feel bad. it's the worst partof running a business. but it is essential.

because as yougrow your company, and you get toseven and nine, and 14, it's an important skill to havebecause here's the problem, when you don't fire losingplayers, winning players leave. it's a big deal. - [man 2] okay.- it's a big deal. - [man 2] thank you.- you got it. let's make sure we getto this guy eventually. oh we can go now, awesome.

that was good execution. - [bren] hey gary.- how are you? - my name is bren,and i fucking love your energy. (gary laughs) seriously, you'resuch an inspiration. keep on, keep going,keep working, keep hustling. - i will. - [bren] and i'll always be watching. - thank you.

- [bren] so the question is, i founded a 3d animationand virtual reality company together with my co-founder. we're doingactually pretty good. every time we get in frontof people, they get excited on our energy and weget a human connection. - [gary] yes. - now to getbigger assignments to get to be able to hire developers,

- people don't letus in, like the bigger advertising agencies,they don't see that you have a hundred people. they're like, yeah, fuck it. - [gary] yeah. - and in the same sense, wehave a lot of creative energy. - [gary] yes.- and we want to put that out. in the same sense,let's say drock wants to makehis own feature film,

- [gary] yes.- he needs a crew. he needs a crew. he needssomebody who holds the audio. he needs somebodywho has the sound. - what is your adviceon creating more revenue without justasking money from people? - [gary] yea. - how do you get more saleswhen drock can only produce so many videos a day? - drock worked for free.

- [bren] yeah, did that. - [gary] well, that's your answer. your energy, that is a human connection. if your biggestvulnerability is you need money to get more people, get a bunch ofpeople to work for free. - [bren] i don't want to do that. - why? - [bren] i don't want totake advantage of people.

- [gary] you're not. - [bren] i worked in the gameindustry and people were working at a thousand euros aday for eighteen hours. - [gary] you're confused. if you're so great, you are nottaking advantage of them. i can promise you, i did not takeadvantage of drock. - can you leave the stage?

- we sure can. and the answer is, youknow what's better about that? that's a reallygood way to put it. what's really most interesting, is the emails hegets and why he doesn't take those opportunities. you know what'sgreat about the game? it's not the words,it's not him saying that with me here or not mehere, it's the actions.

it's the actions. if you think you're so good, you wouldn't betaking advantage of them. and, if you don't want totake advantage of them because you've made theromantic point of view that that's not a good strategy, well then go make some money. - [bren] well,

(audience laughter)i get it, i fucking get it. so, the makingmoney part, it's okay. but,-- - [gary] you can't sell peoplethat aren't willing to buy. - say again? - [gary] you can't sell somebodywho's not willing to buy. if they'relooking at you and saying, "you don't have a hundredpeople and you're too young," they're the market,they're not wrong.

- yeah.- [gary] you're wrong. - yeah, i get that.- [gary] okay. - so, what you're saying is,-- - [gary] what i'm saying is, you need to realize that this is all practicality, and not philosophical. - i'm asking also as wellfor practical information so,-- - [gary] i just gave it to you.

- yeah. - [gary] practically,you have two options. - yeah.- [gary] go make money, and pay fucking drock, - yeah.- [gary] or, go figure out that there'sthousands of fucking people that just want to do the work'cause they're creative. and it's better to do it fora leader that they believe in than fucking sitting ontheir ass in their basement.

seriously. - [gary] there is no third move. you know that's like,that's the best part, right? like what's the third move? there just isn't. - [bren] those peopleat the same time are working at that moment for free. - [bren] but if their resources(mumbles) that they can't pay their student loan.

- then they won't come to you. don't say no for the other guy. - [bren] thank you.- [gary] you're welcome. hi.- [woman] hello. - [gary] how are you? - [woman] very good, thank you. we have something incommon, so i'm very happy today. - [gary] we're both verygood looking? - [woman] okay, thank you!(audience laughter)

maybe we can talk later then! okay.(gary laughs) no, we havesomething in common. i can't sit still,i'm never quiet, so that's a bit difficult for colleagues of mine,(gary laughs) but you just said,"more firing than hiring." - [woman] but youcan't just fire somebody like that, but what doyou do with your people

to keep them motivated, keepthem going, keep them happy? - you got it.- how do you do it? - [gary] great question. the thing we do that hasworked unbelievably well is i massivelyover-invest in realizing that managingpeople is the same way that i think about marketing. you can't have one 30 secondvideo that works for everybody. i have no idea whatthose three care about.

somebody might care about money. somebody might careabout work-life balance. somebody mightcare about notoriety. some might care aboutfootball as their passion, and i get themtickets to the world cup. i don't care what my800 employees want in life, i just want to know what it is. - [woman] when youstarted, in the beginning, were you surroundedby young people or...?

- both. when i started the winebusiness, i was surrounded by older people, and i was22, and that was challenging 'cause i had to break through. when i started vayner,i started it with young people, but it doesn'tmatter how old or young. i hate when people are like,"millennials love work life." i know tons ofmillennials that just want cash. you know, like,everybody's different.

when i started out it was easy. there was only six peopleto know every single thing that they caredabout in the world. now it's hard. now i've built alot of infrastructure. now i run a lot of bigdata to see what their posting in social media to know whatthey care about in their lives. i'm obsessed withknowing what my 800 people want, because then i canreverse engineer it,

because i work for them. leadership is understandingthat people don't work for you. leadership is understandingthat you work for them, and the best way to build agreat company is retention, keeping people forever. my mission, my obsession,is that everybody that walks through vaynermediaworks for me for the rest of their lives. to be able to do that,i need to know what they care

about at 24, whatthey care about at 29, what they care about at 35. oh wait, they fell in love. oh wait, theirhusband wants to move to l.a. i have to be flexible, nimble,i have to pay attention, i have to be obsessed. - [woman] i'm starting today. i'm going to be obsessed.- love it. - [woman] okay.

- how many people? hold on to it, this is fun. how many people do you have? - [woman] my boss has a lotof people working for him. - yep.(audience laughter) - around 150--- so you and your boss and for him, i'm tellingyou this is an amazing way to build a great company. you have to take15 and 20 minutes,

you have to take a dinner. if somebody's veryimportant, it's dinner once a quarter, twice a year. if it's somebody new--- [woman] alright! - what's that?(audience laughter) got it! - [woman] you cancome with us! (laughs) - but you know what i mean? that's the key.

i mean some of youthat watch my vlog, you see five minute meetingswith every single person that comes in. it's five minutes, youcan't accomplish that much, but let me tell you why i do it. some people try to razz me, they think i'mdoing it for show. i'm not doing it for show. by sitting withyou for five minutes,

knowing your name, knowing your phone, i remember a lot of stuff too. knowing if you have a brotheror sister, or you like sports. when i go intothe elevator with you in three monthsand we go up together and we can have a 3 minuteconversation, i'm chipping away. they're scared to talk to me. i'm the ceo, andnot only am i the ceo, i'm also internetfamous and a ceo.

so it's really hard forthem to get comfortable, and i need them tofeel safe to tell me when something's wrong. that's the key because the cost of somebody leavingis so great, so great. much more expensivethan the 15 to 19 hours that you deploy to stay close, and remembering that youneed to give them more value than they're giving to you.

i hate whenleaders, founders, bosses, expect people towork as hard as they do. if you want them towork as hard as you do, give them the same economics. my friend's always like,"gary, i can't get my people "to work as hard as me." i'm like, "how much dothey own of the company?" "nothing." i'm like, "that'sa starting point."

i don't expectanybody to work as hard as me. they need tocare about themselves. they need to executefor what they're doing. and then, people are motivatedby very different things. it's been so interesting to me, i'm using soccer,slash your football, because it's such apassion in this country. there's a kid that worksfor me, who flat-out told me that he was considering to leave

because he got offered double-- you know,vayner's in tough spot. we're so hot,and we're so young, and there's such bigadvertisers in the world that are tryingto steal our people. he's like, "somebodyoffered me double my salary. "but three weeks earlier, "because you knew i wasa st. louis baseball fan, "you came to me andi was doing a good job,

"and you gave me two tickets." randomly. not his anniversary,not his birthday, randomly. he's like, "that made me stay." and now he's one ofthe most important people in our paid media team. those tickets cost me $937. - [woman] okay, thank you. (laughs) (audience laughter)- [gary] what's that?

- [woman] he gave us gary. - there you go. it's amazing, but forother people, i try to do it, and they're like take yourfucking trip to florida back. give me $3000, asshole. you know, like, youhave to know the person. everybody hastheir own north star. - [woman] okay.- thank you. two more?

you know, i love this. - [william] hi gary.- hey. - [william] my name is william, i've been working fora year now at a startup. we've gone from three tofifteen employees... - five-zero or one-five? - [william] sorry? - fifteen, one five?- [william] fifteen, not fifty, let'shope we get there.

influencers...- yes. - [william] and ifeel like i've heard this, like five years ago, but thenthey were called evangelists. - [william] where doyou see the difference, and how to goabout really practical, how to go about in gettingthose on board in the company? - i think we'retalking about the same thing, the difference is fiveyears ago, they had blogs and they didn't reach anywhereclose to as many people.

i would go into instagram,and facebook fan pages, and i wouldmessage them, by hand. - [william] alright. doyou have a facebook account? - i do, slash gary. but remember,when you approach slash gary, figure out what gary caresabout, not what you care about. - [william] alright, the market's always right. thank you.- you got it. yeah, themarket is always right, man.

i'm really glad youended with that, bro, because if youactually internalize that, so much changes. too much ego in the world,people think they are so smart, they latch ontothings like, they latch onto the guy who created the porsche, or the guy thatcreated the automobile, legendary, all time billionairevisionaries, and they go "yeah okay, but if henry fordlistened to his customers,

"he would havemade a faster horse." cool, go behenry ford, you know? back to my young man over here, like, there's fourfacebooks, facebook, snapchat, like, everybody'sgoing and reverse engineering all time, all time stuff. we lack practicality.there's only two options. that's business,not this bullshit that venture capital, give me,

i mean 98%of startups in america are losing money every month. like, what do youthink happens when the economy gets tighter? there's no next funding round. some of the people inthis room have seen it a couple of times. (makes risingand crashing noises) because people aren'tsmart. they don't realize

when they're up here,is exactly when they need to get practicaland change everything, and make surethey're not burning money but making money,so when it goes this, then they pick up everything. i built two businesses,both during crashes, i came into wine library whenthe stock market crashed, and 9/11 happenedand all my customers lived in new york and new jersey.built a huge business.

i started vaynermediain the financial crisis of 2008 and 2009 in america. i'm a wartime general.that's a true entrepreneur. not when idiotsare giving you funding. how much talent does it taketo lose money every month? i think we can all do it. - [sophie] hi gary, i'm sophie. nice to meet you.- nice to meet you. - [sophie] i was just wondering,

how do you think the futureof ads agencies looks like? because here inbelgium, we still have a lot of traditional agencies. - [sophie] whoare now trying to get a digital part inside of them. - [sophie] and we alsohave the younger agencies, who are reallydigital, digital natives. - [sophie] and who arereally performance based. - [sophie] but i feel thatin those agency, the really,

the smart marketing,essence that we used-- - like strategy andcreative lax, right? the samehappened with my company. - [sophie] thefirst ones, they have the, the real, the great creativedirectors and everything, and the smaller ones,the young ones, they don't, but there is this mismatch.- [gary] correct. - [sophie] and as a client,we now need both of them. - [sophie] so how is, howis this now in the states?

- the big ones aregonna get disrupted, they're going to lay off people, the €230,000 creative director is gonna go work forthe upstart that survived, and make €130,then that one will have it, then they'll get big, and thenmartin sorrell will buy 'em. - [sophie] okey-doke.alright, thank you. - so what yourjob is as a client, is to day tradeattention, right?

like, vaynermedia was a steal, for so many years,still creatively. every single one ofmy creative directors are from crispin porter,wieden & kennedy, droga, right? but were less priced than that, yet clients buy into thebullshit like a cannes lion, or what ad age said,so they're stupid. and so, that's good,if they're stupid, they deserve to lose,and if they're smart,

they deserve to win,but that's what will happen, because it'salways happened, right? so the key is, whencan you find the upstart, when it has enoughscale and has the nuances of what you feel they'remissing, because you're right, when you have two, you know,they don't work together. - [sophie] no they don't.- never. that's not, you know, somethings are great in theory. it's great on paper, let's get

an above the linetraditional agency, a digital agency,a social agency, and they'll all work together.great on paper. you know what else isgreat on paper? communism. it's great. like if you read it,it seems really good, it just doesn'tmatch to the human spirit. you can't ask twocompanies who both want to build theirbusiness to play nice, when they're bothundermining each other

to get more business. and that's why mycompanies really worked in the sandbox, becausei've taught all my people to just assume that'swhat everybody's doing. we're not mad when theagencies do that to us, that's whatthey're supposed to do. what i tell themto do, my people, even the most senior, is toeat shit, be the bigger person. i'll take care of it up here,and it's worked very well

cause the client can feel whois trying to make it work, and who's not. - [sophie] alright, thank you.- cool, yep. - a couple moreand then we'll go. - [yama] hello.- hello. - i'm yama, ijust would like to know what you wouldconsider personally your biggest business mistakeyou made in your career. - that's a great question.

i said this the otherday with drock, i'm like, "i hate this question,because i have no respect, "or time, orenergy for my failures, "and so i don'tthink about them as much." i think, i meanthere's a lot, look, my first book wascalled "crush it!", and in the acknowledgements,if you go get it in the library right now,i thank my entire family and one random person:

travis, the founderand ceo of uber. travis came to me, andwanted me to invest in uber, and i passed, twice. that $50,000 investment, because that was thesize of what i was writing, would now be worthclose to $400 million. that's a bad move. so that's, that's notas valuable to everybody. i'll tell you what'svaluable to everybody.

every time in mycareer that my eyes got big, and i decided, so what i do verywell, i referenced the 100 and 67 million thing, i'm very good at making80% of my business stable, tried-and-true,staying the course, continuing to dowhat i know will work, and then taking 20%of my money and energy and being very risky,and trying to put myself

out of business. back to the agencyquestion, what's the agency that's coming nextthat could hurt me. is it a vr shop? i'm tryingto put myself out of business. i'm very good at that,and that's why i build very big businesses. i'm notas profitable every year, but i get really big, got it? when i've takenthat out of my control, and have givenmoney and some energy

to other companies and puta founder and ceo in charge, like i did afteri left wine library and started vaynermedia for asocial network called cork'd, which was a wine social network, for a company calledforrest, which was a designer and developer social network,where i was the "co-founder", but i really wasn'trunning the company, it was mainly,i was giving money, we leveraged my name, i wouldcheck in once in a while,

i've done very poorly. - so, what i'velearned is, when i'm operating and building scale around me,it's a very good strategy, financially worthwhile,when i've gotten big eyes and i wanna doeverything and support other entrepreneurs, in aworld where i try my best to vet them, but theymay be good or they may not be good, those havebeen some of the places where i've made a mistake.

and i think, i'llbe honest with you, i think my greatestmistake is still ahead of me. because of the way i play. where i will have agreat mistake is that i hedged so much, i invest so much,i'm building so much for the future,that i may not achieve my great ambitionsbecause i left too many dollars along the way ina thirty year macro and at 70 or 75 or 80, wheni realize shit, i don't have

a lot more time, itcould get me into a place where i becomecynical and bitter because i left so much, i did so muchfor everybody else. the 51-49 that i give toeverybody else hurt me in the end and so i couldbecome this weird character that goes and livesin a cave out of anger in my old years andyoung entrepreneurs are gonna try and find meand shit like that so,

that's how i thinkmy story could end. and i mean that. i think my greatestfailure is at the end. my intuition is i'llconvince myself that the journey and the legacy trumpedwhatever materialistic thing i wanted, i kind ofalready know that too, yeah. okay, one more and then weshould get on schedule right, cause i'm fucking it up, yeah. - [sebastian] hi gary.- hello.

- [sebastian] it's sebastian.- hey sebastian. - [sebastian] yeah you'vetouched on influencer marketingbriefly already. - [sebastian] and i've dabbledin it a little bit so far. - [sebastian] but the problemis that a lot of the clients they actually welltreat it as product placement or endorsements. - [sebastian] do you think itworks in that respect, or not? - well i think that's whatit looks like historically,

do you mean thatthey're forcing the influencer to do somethingvery specifically. - [sebastian] this ismy product. - yeah, not smart. - [sebastian] put it inyour hands and put it on. - yeah, i think the only wayto do influencer marketing is to give the productto the person and tell them to do whatever thefuck they want with it. the problem is thebrands wanna control the message

and they may say that's offbrand, they don't understand that's very much on brandbecause the interpretation of that product to thataudience where that person intuitively understandsthat audience is exactly what you want. - [sebastian] howwould you suggest i,-- - by, - [sebastian] try toconvey that to the clients? - by not taking their moneyunless they do it your way.

- [sebastian] thanksthat makes sense. - it's, it makes sense,it's the right answer it's also very difficult to do. you know one of thegreat things about being good at what you do is itallows you to say no. so i have given you advicethat's right but it might not be practicalbecause that might be the only way you make money but you need tofight for it harder

than you're fighting for it. you have to bewilling to lose the client, you'll be surprised,four out of every ten times, the client will beeven more excited because the client-agencything is hilarious. the client's want more strategy, but when the agenciesbring the right strategy they try to makeit the wrong strategy. like people hire us allthe time and then i'll sit

in the first meetingand i'm like, you guys hired vaynermedia, not j.w.t.,what the fuck are you trying to make us do that? you could have just gofucking hire poolassist you fucker. - [sebastian] thanks.- you're welcome. thank you, thank you. (light music)

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