- Let's do this. (audience cheers)
- Okay, Gary, first question.
Gonna keep it real easy, you have 1.2 million followers on
Twitter, well done there, your channel's all over the place.
Stitcher, Snapchat, Facebook, YouTube,
iTunes, Soundcloud, what's your favorite?
- My favorite, I think this is similar to what a lot of people
asked me what my favorite wine is, you know?
I don't necessarily have a favorite.
I think we go through momentum.
I would think Twitter has historically been my favorite
platform 'cause it's the easiest one natively from a UI/UX
standpoint for me to engage with all of you which is really
valuable to me.
Snapchat right now is you know and obviously a lot of the
people in here who are either watching or in the room know if
they follow me I'm very fond of and what I really love about
that is when I have the chance to reply one-on-one in that
environment, I get even more of a lift.
To me, what I love social media for is a little bit different
than I think most people.
I truly believe that most people are way to over focused on the
distribution of their content in that environment and for me I'm
very much focused on that but I do believe that it is a
platform that allows for scaling the unscalable,
the one-to-one engagements.
I know a lot more about the people in this room they could
ever imagine and I think that's how you build actual community
and depth and so for me the tools that allow that the most
are the ones that are most interesting to me.
And so, you know I'll be honest with you,
even the change on Twitter to the heart where I'm now instead
of like which felt weird like some he says something nice.
It's amazing a little subtle things work.
If somebody here said something
I never liked anything on or starred.
I never favored anything on Twitter that one here would say
about me but the heart because of the way that works in the
other platforms is more of a appreciation for you giving me
love and then it's a scalable way for me to create context
with you to let you know that I'm paying attention.
Tools that allow me to prove that it's me.
I'm always stunned how many people,
even after a decade, are still questioning if I'm doing it.
So Twitter video, Snapchat's incredible for that.
It's a place where I get to prove I'm actually reading it.
I'm actually engaging with it
and so I think that's super important.
So, my favorite ebbs and flows
but always my favorite thing is
the one that allows me to create depth on a one-to-one basis
which then allows me to build actual relationship with people
who then amplify organically the
stuff that I'm actually pushing out.
I believe the work that I put into actually have relationships
with the people I've known a long time and things of that
nature create a scenario that allows when I put out something
the threshold for them to share it because it came for me is
probably little bit lower because I have equity that I've
gained through not my words but through my actions and so those
are the kind of like checks
and balances that I'm trying to figure out.
- Okay.
In your opinion is social media a marketing tool?
- 100%.
Anything the world that
has people's attention is a marketing tool.
Like football jerseys are a marketing tool because
you're looking at them.
Social media is a slang term for the current state of the
internet and I think the internet is a marketing tool.
- You say about marketing tools and
social media being a marketing tool.
I have like, I was thinking of questions earlier today.
I've been going through other
questions of people that asked you.
Through all the Q&A's.
I was like, I want to talk to you about VR
but in a different way. - Okay.
- Facebook bought Oculus back in 2014 and apart from doing a
little thing with Samsung and obviously the 360° videos that
they're now starting to roll out.
I want to know your thoughts on this.
What do you think and how do you think Facebook
are going to use that purchase?
What are they going do with VR in a social media context?
- I personally believe that Mark Zuckerberg is the single
best day trader of attention in the world.
If you think about it
when he bought Instagram for $1 billion couple years ago
I think you guys all might remember everybody freaked out.
It was only 550 days old, the company.
A lot of people haven't even created their Instagram account
yet and here's a billion dollar exit several years ago when
a billion was more than it is today, right?
Just to remind everybody,
I get a lot of credit for being early on Snapchat.
18 months ago Mark tried to
buy Snapchat for $3 billion, right?
$3 billion for Snapchat where only now in the last 60,
90 days have people said wait a minute.
He bought Oculus because I believe,
and I don't know this for a fact,
Mark understands that the only arbitrage to the internet itself
is going to be VR.
So VR is not gonna arbitrage social or how is it going to
work together, VR arbs out the internet itself.
VR becomes the next platform where our attention is.
You put on those contact lenses and the reason for all of you
that follow me I keep saying contact lenses it's an ode to
what I think is gonna happen which is I don't think VR on a
consumer level is going to grow as fast as a lot of people do
and by the time they do,
I don't think it's going to be some conky headset.
I think we'll be into contact mode in a decade when
I think it actually hits scale.
I think VR right now is far more similar to internet 1992,
'93 then like tomorrow all of you are gonna be watching your
movies and playing video games on headsets.
That's too big of a jump.
You know, we're slow. - Yeah.
- Like we're slower than we think.
Like think about how much you buy on e-com.
This is, by the way, we're in the U.K.
This is a mature e-commerce market and still think about how
much shit you buy at the store. Right?
So we don't do things as fast as people think at scale.
Obviously, there's early adopters.
There's plenty of nerds in Silicon Valley that are gonna
put headsets on and VR it out but at scale I mean people in
this country side, right?
I mean middle America, that's gonna take a much longer time
but the reason he bought it is because
Zucks is playing for keeps.
Like Mark Zuckerberg's gonna run
Facebook until he dies in his mind.
He's a young man and I think he's more similar to a
Jeff Bezos like CEO where he doesn't care if Wall Street looks
at the line item of $2 billion and goes,
"You suck because there's not as much profit this quarter."
He'll be thrilled for the stock to go to 20 because he knows in
24 months a stock will be at a buck, 20.
- Yeah.
- And when will we be interacting with you on VR?
- You know, for me, I'll be there as early as I think
there's enough meaningful scale to get learnings from.
- Mhmmm.
- So you know a lot of people are like you're so,
you predicted a lot of things right.
You're so disruptor or whatever, you know?
I think I'm practical.
I actually just wait like I haven't predicted anything.
I've just moved very quickly when Facebook or Twitter or
Tumblr or YouTube or email or Google AdWords was at some scale
that was more meaningful then the rest of you thought.
- That's like with the Snapchat things.
Supposedly, it's not supposedly you were looking at it in 2013
and people would always say oh, he's only on it now.
It's like, you look at it, you analyze the product.
You think do I do it, yet?
- The best thing that's going on for me right now is with
Snapchat and with DailyVee I'm document,
and The #AskGaryVee, I'm documenting so much more of my
thoughts in depth.
So a lot of things that are I know are gonna play out in
24, 36 months, I'm gonna have a lot more video around then I did
with like one or two talks where I talked about Snapchat three
years ago so I'm excited.
I'm excited that also a lot of you can make fun of me in two or
three years on things that I was wrong about.
I like the meritocracy of having those conversations.
The reason I'm not scared though is I don't really bet that hard.
For example, think of it as real estate.
I'm not gonna go in the middle of absolutely nowhere and see an
amazing beach and there's no infrastructure,
there's no roads, there's no airport,
there's no people but it's the
most gorgeous beachfront I've ever seen.
I'm not gonna buy that property.
That's 20 years away but
where I would go is that is that infrastructure.
I wasn't the first guy or gal that bought there but I'm buying
it 36 months, 60 months before it really pops.
That's how I play in these platforms.
I'm not the first user.
I'm not the second user.
I'm on Peach right now, I'm paying attention but I only have
to check it every 30, 60 days.
I'm not there checking it every hour, right?
I'm paying attention to Kik, right?
I'm paying attention to these platforms.
I'm paying attention to Anchor.
You guys know this, I've been throwing it out there
but I'm not there everyday.
I'm not producing for it every day.
It's kind of over there.
I know about it.
I know why I'm paying attention whether the founder,
whether the thesis, whether consumer behavior but
I don't talk about shit I don't believe in.
And so, I'm actually quite boring for periods of time.
If some of you, met a really tall young man back there he
said I've been watching since
episode 10 of The #AskGaryVee Show.
#AskGaryVee Show is funny to me.
If you watch the first hundred episodes
all I talk about is Facebook.
Like it's so underpriced so and then all of a sudden you know
episode 175 to episode 300 I'll just talk a lot about Snapchat
and influencers on Instagram.
I don't need and then if you talk to me about my pillars like
work ethic, you know, self-awareness,
all this stuff, I'm never gonna change.
Like I just want to, you know, the lucky thing for me is the
world changes and I deploy my thesis on the new thing but at
it's essence you can get bored of me real quick.
- So if you were starting out now,
where would you begin?
- Well, I would reverse engineer myself first.
So, if you're sitting out here and starting it now,
like A, you have to understand that creating content is the
cost of entry to being relevant in society.
Whether you're a person or a business the creation of content
on these platforms is the cost of entry to relevancy.
So the first thing I would do
is say what can I do to create content.
Am I good at writing?
Am I good at video production?
Should I audio it?
I think everybody here is the reverse engineer themselves.
For me, video is the most powerful platform.
It's been proven.
Movie and TV stars are more famous like this is just the way
it is. So I got lucky.
I light up when the camera comes.
I get going. I can't write a sentence.
I can't even imagine the jokes my team makes at VaynerMedia,
I don't think I've even written
in the body of an email in three years.
(audience laughter)
Everything I have to say is gonna come in the title,
and that's gonna be it and.
I don't even use commas, I go dot-dot,
it takes me longer to do what I do.
That's how bad my grammar is.
I'll go dot-dot-dot-dot, it takes me longer than the comma.
I can't even get myself to use commas because I don't
understand grammar and so, so that's a bad idea.
So I think the first thing I would do is I would sit here and
say how do I communicate and if the answer is none of the above,
you should team up with somebody.
- [Stephen] Yeah.
- Because you have to communicate.
You have to communicate and create but
it has to be authentic.
I often talk about the 23-year-old,
24-year-old business coach that's never built a business.
Like that pisses me off.
And so, I'd much rather a 24-year-old that wants to make
money off of people talk about the journey of becoming a
business person 'cause that's actually what they're going
through versus faking it.
I also think it's massively important to put out content
around what you actually do.
In 2006, when YouTube was super young and I'm about to start a
show this is early internet,
web 2.0 if you think about where were talking about,
everything that people watched was about tech.
It was Tech TV, it was Scoble, it was Kevin Rose,
Diggnation and I'm like, "Shit, I'm gonna do a wine show."
Wine show is not, wine's not mainstream ever
and never will be.
I remember everybody after it was successful was like,
"Oh, but you had a great subject matter."
I'm like, "Do you know how many fucking people care about wine?"
(audience laughter) Like 11.
But I knew that I had a talk about something authentic.
- Right. - Yeah.
- In the same way that I knew as things were evolving,
that in my heart is like you know I don't want to be
America's wine guy.
There's a lot of people that could be a better wine critic
and wine personality than me but what I am good at is this
business marketing thing.
I better start producing content from that 'cause that is coming
from an authentic place.
It's how I built all this. - Yeah.
If you're like passionate about something then it also
tells in the content you create and you were and
you are extremely passionate. - Yes.
But a lot of people confuse my first story of Crush It!
You know, it's not like just 'cause you love football or
hip hop or roses that you're entitled to build
a million dollar business around that.
Passion is massively important, I'll tell you why.
Work ethic is an absolute pillar of variable to being successful.
And if you're passion about something,
it doesn't feel like work.
And that's a big deal.
If you feel like if you're working on your side hustle from
6 to 2 in the morning, 6 P.M., 7 P.M.,
right, and you're not up for it like you're forcing yourself
because you need the money or the dream.
You've fucked up.
You picked the wrong thing.
To punt all your leisure and all your friends and family and to
work on something and to be tired the next day 'cause you
have to get up for work which you really don't want to do
which is why you're building your side hustle.
That has to be about your passion because it's just too
hard if it's not.
It can't be about where you think you can
make the most money.
What I don't think people understand is you can make a lot
more, like there's a lot, so I wrote Crush It!
a long time ago.
The emails that I get, I get way more people that are making 50
to 200,000 a year talking at the craziest,
like the emails I get are so bananas.
Like, well bananas is in my Snapchat so I won't use that.
Like, "Hey, GaryVee, you know, I read Crush It!
"in 2009 and I'm making $74,000 a year
"in ads and selling T-shirts around raspberry jam only."
(audience laughter)
I've had a lot more people make money deep,
deep, deep in the longest tail niche
that you could have ever thought of.
Hip hop stars from 1986 to 1989.
This is a real one.
There's a guy who only talks about hip hop from '86 to '89
'cause he was in high school during those years and now he's
like now he gets paid like five to $10,000 a month retainer to
do hip hop consulting for companies that came from the
content he was putting out.
- That's so amazing.
- He stopped being an accountant.
(audience laughter) Right?
But the people that are losing are,
I tried to build an affiliate marketing company.
I tried to do $500 e-books.
They went for the money, they had no patience.
The hip hop guy and the raspberry jam girl and this guy
had years of nobody giving a shit before we popped.
I did Wine Library TV for two years with not with crickets.
Crickets.
- What kept you going during that time?
- 'Cause I knew I was right.
- (laughs) That's what kept him going.
He was right. - That's exactly right.
I know and don't forget and there was something else
that's a little, that's a little bravado what I also had the
history of how I built Wine Library.
Everybody said I was wrong to do an e-commerce site.
My dad got scolded by his liquor buddies saying you should open a
second store not this internet fad, right?
When I didn't do a catalog like everybody did catalogs 'cause
I was doing email that was stupid.
'Cause catalogs were the establishment of
how wine store sold product.
When I was buying Google AdWords instead of doing more
direct mail and took direct mail dollars out of that,
that was stupid 'cause direct mail is what got us here.
What gets you somewhere is never
the thing that gets you to the next spot.
- Yeah.
We good in the audience to
grab some questions from you guys now?
- Oh, they'll roll. - Microphone up.
- Yeah, let's give those who got tickets first.
- Okay, raise your hand if you want to ask Gary a question.
Louise, can you get to the man in the blue there?
We'll come to the front in a sec as well.
Introduce yourself, your name and where you work
and what you do.
- [Warren] Hey, I'm Warren. - Stand up, we can't see you.
Please. - Oof, you work them hard.
- I'm not, what stand up?
- [Warren] What advice would you give to one of the world's
biggest brands that has just started selling products online?
- One of the world's biggest brands that's selling
now direct to consumer.
- No, that is just starting to sell our products direct online.
- Just starting. - [Warren] Yeah.
- But before has been selling it through retailers.
- In the wholesale market.
- So, first thing I would say is make sure your channel conflicts
are all set and you have no issues.
So one of the biggest issue in the game right now is a lot of
big brands want to go direct to consumer as infrastructure's
getting built up but if you create a little bit of friction
between the people that actually sell your products 'cause you're
arb'ing around them so first I would say politically make
sure that what you're doing, you don't try to like cut your
nose despite your face because you have
to have those relationships.
Number two, I would say to make sure that the people that have
been involved in the wholesale business are not involved in the
DTC business.
That you need to create a completely autonomous division
that understands that because they are very,
B-to-B and B-to-C are very different businesses and
require very different skills.
The other thing I would say is please understand there's a very
big difference between being a salesman and a transactor and
being a brander and a marketer.
One of biggest mistakes is big brands go from into this
environment and then they're taught that this is a quant play
and it's all math conversion and all the things that helped them
build the biggest brand in the world,
branding they punt and they just care about last attribution,
you know, conversion based.
You know how many people in this room did not jump on Snapchat
because they didn't understand the ROI and how to convert the
ROI or understand what the ROI was of the video 'cause there
was no direct attribution in a digital environment.
'Cause they're salespeople.
Because they're transactors.
They're not branding and marketing people, right?
Like these mother fuckers right here,
they didn't cookie me no the internet and follow me around
with banner ads and I gave up and I bought this pair of shoes.
(audience laughter) Right?
I bought these because I blindly was fed it somewhere over the
last 30 years that this is what I'm doing, right?
So big brands I think make the mistake of going way too
transactional because they'll bring in a separate team that
are digital marketers, that are quant based and it's like last
touch on Google, last touch on Facebook and they lose the
essence of branding and marketing which would force them
then to make three and four minute videos on Facebook where
they could do much better commercials.
They could do content.
Where they would do Instagram
and Snapchat as emerging platforms.
Where they would do content deal so those are some of the pillars
I would top line, religious things I would think about.
- Thank you.
Tall man at the back who was referenced earlier.
Good luck, Louise getting over there.
- [Man] Gary,-- - Yes?
- [Man] I'm the tall guy. - Yes, I'm aware.
- [Man] What advice would you give to a VP of marketing in a
brand new startup when it seems like there's everything to do?
Where should your focus be in the first six months?
- I think startup marketing people,
first of all, this is a weird thing to say.
I would tell you probably as, and this is a generalized
statement, but I would tell you that the marketing people at
startups that have less than 20 employees are probably the
weakest group of marketing people I know right now.
I've been really grossly disappointed
with the talent at that level.
Mainly 'cause startups have not dragged down people with
experience, they'd given people upstarts an opportunity which is
great and I love that but it sure leaves a lot to be desired.
I would tell you the first thing that I tell them and I speak to
a lot of them hence the thing I'm concerned about is there's
just complete misunderstanding of what marketing is about.
Marketing is a function to create an action that
a company wants to happen.
So I would tell them to reverse engineer,
like I would ask, like I asked marketers like what you want.
I literally had conversations where I asked a marketer in a
startup like what you want to happen and
they can't answer it for real.
And the answer needs to be whatever the fucking business
needs to happen tomorrow.
(audience laughter) Right?
'Cause when you're a startup, so the carnage that is about to
happen in startup land that I can't wait for once we have
our next economic slowdown is gonna be really gratifying for
me because I have become stunningly disgusted with
what's really happening in startup land.
Which is nobody's building companies anymore,
everybody's just building machines that are built for the
next round of funding.
It's crazy. It's crazy.
So I would tell the marketer to do their fucking job.
I would tell her or him to say you know what is your business
trying to do and how do you make
that happen for the least amount of money?
- Good.
Before we go back out to audience,
I've got a few questions from the Facebook live stream.
Thank you guys for joining us there around the world.
- Worldwide.
- Worldwide, global all in one place.
But the two questions we've got, well we've actually got quite a
few but they're along the line of how would your personal style
work in a more conservative U.K. market?
And then another one to follow up with,
how does Gary see the difference with U.K. and U.S.A. marketing?
- So I haven't played hard, like one of the things I pride myself
in is not talk about shit I don't know.
I haven't been, and we haven't marketed here long enough for me
to feel comfortable on answering the second part of the question.
I see the data.
Facebook arbitrage is better in the U.K. market
than the U.S. market.
Every one of you should be running Facebook ads if you want
to do business in this market tomorrow.
Figure it out.
One test that didn't work doesn't mean it doesn't work.
So number one, I know that from data but still there's creative
variables that impact that.
This is a more mature e-com market.
Everybody has their own things,
so the data supports enormous
opportunity in the U.K. market for U.K. consumer because
there's a lot more traditional execution going on here by the
company's yet a lot of you are just far more advanced actually
than the American counterparts
on the way you buy stuff through the internet.
That's a huge opportunity as you can imagine.
On the first part, you know listen,
I rub people wrong.
I'm too American for Americans.
(audience laughter) So I think, you know,
on common sense there'll clearly be some people that won't love
what I'm gonna do but I'm not worried about that.
I have nothing but respect for everybody.
I'm just really comfortable in communicating with passion and
my point of views.
I want only good.
Here's what I'm grounded in I want to build the biggest
building in town and my plan on doing that is to build the
biggest building in town.
And I think what most people do is tear down all the other
buildings around them.
And I think once people get a real read on me and they
understand that's how I roll, all the bravado and the,
you know, hustle and all that stuff starts to become more
palpable because I'm not trying to do it at anybody's expense.
I'm trying to when I say, "Hey, dick face,
"you need to get serious about this," it's because you haven't
listened to people say it nicely for two years and that's what
I think you need to actually maybe think about it for
30 seconds because you're clearly not doing the right
thing so let's figure out what communication style needs to be
deployed right now to actually make you do something because
here's the biggest problem I have.
My biggest competitor in the world is your success.
The biggest problem I have is when companies are doing good.
Good scares the shit out of me.
We're up 9%.
You know, that's scary to me 'cause that means you're not
going to do anything to change and usually what happens after
being up 9% is not being up 9%
and it predicated on do you want
to change and be up 15 or 19 or 22% or
do you want to be down 1%?
And so, yeah, listen,
I will pull every lever of anything I have to do
to communicate not because I want to be funny or 'cause
I think it's cool because I'm desperate to help the other
person on the communication to do something that I think is
meaningful towards what they want to do.
- Yeah, your one-on-one communication with like the
whole community is unparalleled.
I've not seen anybody else put so much time in to it and it's
because it's something you're passionate about.
- I totally agree and I'm stunned by people's inability as
a whole to recognize it. - Yeah.
- I'm so pissed when I get thrown into the conversation
with huckster marketers or other social media experts.
They don't look like me.
Like go look at them.
For huckster marketers, I've nothing to sell you.
I got no fucking course.
There's is no mastermind.
I'm not inviting you to my fucking island.
Like I got nothing.
I got nothing, like, nothing.
And then other social media experts if every other social
media expert was good as me why do I sell 100,000 copies of my
book the week it releases on my strategies and
why do they sell a 1,000?
Like real quick on that.
All the other people that are supposed to be experts and
social media experts, go look at their Bookscan numbers.
If they're so fucking good and they have such great advice,
then why can't they sell their own fucking book?
(audience laughter)
- Why do you think then they're
not doing what you're doing because--
- Because they're not as good and they're not working as hard.
I am more talented and I outwork them.
(audience laughter and applause)
That's just the real truth.
Why is the best soccer player
in the world the best soccer player?
Because they have the most talent and
they outworked everybody.
Because talent's not enough.
We see it all the time.
The number one pick doesn't always be the best player
because talent's not enough and hard work's not enough.
I could try to be the greatest soccer player of all time,
it wasn't gonna happen.
Right, so like they both matter and so why?
Why?
Because I like to remind everybody that unlike every
other social media expert, I built a $65 million business
before I came out to the world and said,
"Hey, I'm here. Let's talk about business."
- Where do you think this is gonna take you?
- Me? - Yeah.
Where is this all gonna go?
- To winning Super Bowls.
(audience laughter) - Yeah, buying the Jets.
He's all about buying the Jets, Stephen.
- I think realistically my dream I love to always talk about
buying the Jets, what my real dream is in parallel 'cause
that is my real dream is I want to prove to the world that you
can build a financial empire on being a good person.
I think I can change the business landscape forever.
- Right.
- I was very affected by Steve Jobs' run as the guy.
A lot of my tech friend started becoming mean to their
employees because that's what Steve did.
And it affected me a lot.
And I said, huh, I wonder if I go and build a
multibillion-dollar thing on being the best with the
community, the best with my employees,
would then people wake up and be like,
"Oh, I want to be like GaryVee and that's what he did
"and I'm gonna do that," and the answer is yes,
that's what people do.
And so, I'm on a very interesting crusade.
I think, you know, I think capitalism and meritocracy are
the greatest truths in our society,
I do believe that and so for me I'd like to show the world that
there is absolutely ways to be aggressive and competitive and
want to beat your competitors faces in the ground but be a
great guy to your team in and to the people that surround it and
build something very meaningful
and I think I'm in the process of doing it.
And I think what's really intriguing about what I'm doing
is I'm documenting it the whole way.
So, you know, it's one thing to see my content now just project
that every day, every day,
every day 30 years from today.
You know I made a search engine for #AskGaryVee.
I don't know if you guys saw this.
Where which is really incredible if you go to
ask.garyvaynerchuk.com, I'm really proud of it.
Every word I've ever uttered on that show is now searchable.
And the value that I'm getting from emails and I've been,
I've been promoting it a little bit
but I haven't really gone in yet.
People are really getting real value.
- Mhmmm.
- It's super cool like they're just getting the answers to
their questions and I'm like, wow imagine that at scale.
Imagine that, imagine all of the words that every came out of my
mouth, this, this interview being completely searchable
which is really cool.
I'm really excited about, I know my intent is and I think that
for people that have known me a long time and I see some of the
faces around here, I know what people thought
I was 10 years ago,
seven years ago, five years ago.
I'm only winning every day that goes by while a lot of other
people get exposed over that time.
- Got a question from online.
We'd like to know which
early stage startups are doing it right?
- I don't know.
I would tell you that it depends on how you define early stage.
Right? You know, I think Snapchat did it really,
really, really right but the truth is I'm not sure.
I mean which early stage startups are doing right?
The ones that are clearly going to be profitable with their
actual business in the next 6 to 12 months because if capital
dries up and you're living on the next round of funding.
Guys, very big startups that we all look up to will be out of
business 36 months from today.
They'll be out of business.
Just watch very carefully for the following term that you're
gonna hear a lot about over the next year: down round.
Get used to down round which means XYZ startup,
unicorn,
got valued at $800 million in their last round and
you just heard that they raised new money at $325 million.
Why?
'Cause nobody was going to give them money at a higher range and
the options work go directly out of business or heavily lower the
valuation of your company and
get some new money in to stay alive.
Down round will be a word you hear over and over and over the
next 18 months because we went
way too crazy on early stage companies.
Companies were getting A and B funding before they had any
business which is nothing like we've seen before.
It's completely broken and there's gonna be enormous
opportunity and a lot of.
We also lived through a time where the way one was deemed an
entrepreneur was predicated
on them saying they were an entrepreneur.
(audience laughter)
which is great but there's you know if
you said that you were a singer
or an athlete in our society today,
they would come back and
ask you are you a professional athlete?
Like do you get paid to be an athlete?
But in entrepreneur land every kid in here who's got an idea
goes, "I'm an entrepreneur."
That's nice. Are you a professional entrepreneur?
(audience laughter)
Like do you make money and so I think that's
about to hit its head.
At the same token, we're about to go through the golden years
of the internet.
Internet's starting to get, you know?
Internet's 20.
Remember when you hit 20?
Shit was starting to get cool.
20 and 30 was fun for everybody who went through that.
You're in, I don't know if it's your prime but fuck you are
solid and I think the internet
is about to go through that as well.
Really the consumer web is only 20 years old, right?
Windows 95 is kind of what really started the version of
what were seeing now.
It's young like just rewind like everybody this room is old
enough to just rewind just 10 years ago, most of the shit we're
talking about right now didn't exist.
Didn't exist or was six months in or nine months I mean like,
are you kidding me? Like everything.
We didn't have smart phones 10 years ago.
Now it's the only thing that matters in our lives.
(audience laughter) So we're just starting.
- I've got another question from here.
- We had the Ngage 10 years ago.
- Yes. - Remember that?
- Yes.
We had stuff and you guys had texts,
you guys had texting before we did,
right, in the U.S.
We had stuff but what do you think the world's gonna look
like 10 years from today?
Have you looked at how a
14-year-old lives her or his life?
What do you think they're gonna be doing at 24?
You think they're going to be clicking banner ads?
(audience laughter)
You think they're even gonna know what a laptop is?
'Cause they're not.
- [Woman] Hi Gary.
- Hi. - [Woman] Hi!
I think most people in this room,
most people you talk to are
trying to build an obsessive audience.
- Okay.
- [Woman] We actually have the reverse problem.
So we have 400 million visits
to our shopping centers in a year
so we're probably the biggest media in the country.
- Intersting.
- Now, what we want to do is build content and everybody's
trying to grab our audience.
Google are trying to grab our audience,
everybody is and we want to make sure that we get the right angle
so we can-- - Beat them.
- [Woman] have that audience and have a relationship with them.
What's your advice on that?
- Okay, so I want to make sure.
So you guys, go a little bit deeper.
You guys are in the retail,
bricks and mortar world, malls?
Like what are we talking about? - [Woman] Yeah.
So we own 15 shopping malls. - [Gary] Yes.
- Throughout the U.K. - [Gary] Yes.
- intu, by the way, everybody (laughs), quick plug.
And actually the team here everyone wave.
We run the digital side of the business.
So we're integrating digital content with our audience and
2/3rds of the British population shop with us.
- [Gary] Yep.
- So we see that as an absolutely massive opportunity.
- Of course.
Because what's gonna happen over the next 20 to 30 years is that
number is not gonna go in that direction.
You'll start losing that audience over time,
and by the way, I said two to three decades.
20, 30 years but it will windle.
Like the 20% of e-com business that happens in the U.S.,
30% here, that came from somewhere.
Right, it came from physical.
It keeps getting chipped away.
It doesn't happen as fast as Silicon Valley thinks it's gonna
happen which is why you're still not outta business.
Whereas if this was 1996 and you asked me in 20 years would malls
be in business I'd be like,
"Uh, they're gonna be in real trouble."
So I think things take longer than they think.
But I think you guys are smart enough
to realize you're a platform.
You're a physical platform, right?
So, first, this is a data war.
For you to have all those people walking through your malls and
for you to not have all the data of every one of those people,
phone, address, age, sex is a huge problem.
And you don't have it.
So, the first thing I would do
and I'm a big content believer, right?
Like, I think you guys should make a reality show,
play it on Facebook 'cause I think Facebook's the over the
top network that Netflix doesn't want to battle.
Like I think you could do
some incredible stuff in video production.
But before you even go there, anybody who is being arbitraged
by the internet, right, in the physical world,
needs to be in full scale data collection.
Physically.
Shit, I would incentivize every one of those 2/3rds,
3/4ths, 400 million, every one of those people like tomorrow as
leaders in the company from a digital side,
you need to have conversations
with leaders in the whole organization.
You should absolutely
incentivize data collection at scale.
Fucking every food court item should be cheaper if they have
your card so you get the data or the app or what.
I should be able to park in a better spot if I have the app.
Let me unlock with my app and I will trade you data for time.
Right? You have to.
It's super great that you have 3,
400 million people walking through.
They're not yours.
And you can make them yours.
Ironically, they're the shops in your malls people,
not yours but you can actually arbitrage that,
have that, own that data and then build the next version of
yourself when and if we stop going to those places.
And by the way, and I think you guys are smart enough to know
this, there are a lot of markets
where malls are in very big trouble.
If you go look at the Australian market with malls,
parts of middle America right now,
it's already starting to happen and so I always think people are
gonna go to physical places, I just think that every day that
goes by a mall's model is vulnerable and you should siphon
the data starting tomorrow.
- [Woman] Can I push back? - Of course.
- [Woman] So the way we see malls going is leisure,
dining, experience-- - Agreed. Agreed.
- [Woman] so what we're seeing with our stores and our
retailers that are there, so Nike perfect example,
they're creating brand experiences within the malls--
- You're 100% right.
- [Woman] that are totally immersive and the thing is--
- You and I agree.
- [Woman] people love a free day out and a coffee at Starbucks.
- 100%. - [Woman] And go into Nike.
So we don't think malls are going anywhere.
We haven't seen our footfall move.
- Yep.
- [Woman] But actually, personally I think the big,
massive, huge opportunity is not VR but AR.
- Yep.
- [Woman] So contact lenses, walk into the store.
- 100%.
- [Woman] Try it on, order my size there and then and you
know, could we be that platform for everybody?
- So let's play this out. Let's talk this out.
Because this is fun now. (audience laughter)
I agree with you because we both agree the
way mall today is as a transactional center is not
gonna work and it will evolve
and retail has evolved through all time. Right?
It's all different things.
The thing that I'm most fascinated by is how top-heavy
do the experiences become?
So Nike, I know for a fact, is not super interested
in driving your overall experience.
They're starting to look at locations in U.S.,
they're entire U.S.
retail strategy is no more malls,
standalone Nike. We're fucking Nike.
People are coming to the mall because of us.
It's part of their strategy, that just 100%.
That's not my opinion. That's 100%.
Now the question becomes how does that play out?
Over time how does that play out because what you're saying is,
you're 100% right.
We are all gonna experience, right?
The question will become will the top 50 brands in the world
that will have 80% of the leverage want to keep paying
you in arbitrage when they
are the absolute driver of that experience?
That, to me, is a far more interesting question. Right?
Because when it becomes too top-heavy,
which it will, the question will
become what is it actually look like?
Because malls are great but there's a lot of land out there
and to pay you a vig for something that I'm actually
driving and then I'm arb'ing to other competitive products as
people start competing with each other in multiple categories
becomes very fascinating.
Because not only does Nike have this but it's very intriguing
that Starbucks has opened it's
first 10 standalone stores this year.
This is an arb game always and so I understand why you would
like it to be that way 'cause that's the business you're in.
The same way I want things to be the way
I want them to be for my business.
I think the fun debate if we're really having this battle is
when it tips to a small group of having the leverage,
it's no different than why
Amazon is now private labeling every category.
It got big enough in the U.S.
market to have enough data to now compete with their own
partners and so malls are not competing with e-commerce,
malls are competing with the seven players that represent 80%
of the experiences in 15 years saying themselves I'm not
overpaying you guys for that so I can support the other 10
cockamamie characters in this room when
everybody's coming for me.
- Should malls become content creators as well then?
- Yeah, I think when you're at that big of a scale and you have
that big of a company I think everybody
should be in the media business.
- Mhmmm.
- And so, I literally think you should do a sit-com.
- I would watch it. I would watch it.
- I really do and I think
you should distribute it on Facebook.
How many people here watch DailyVee?
It's a TV show being distributed on Facebook and YouTube.
And now, how many of you watch it on a television?
So this is interesting, so this is interesting.
Very small number. One, one and a half, two, maybe
three but in three years all of you.
Like we're so close, right?
What happens when Facebook makes a TV where you just in
your stream hit a button and it shows up on your TV? Right?
We're very, very, very close.
My new Samsung TV, which Lizzie bought against my will, 'cause I
have my Samsung joke that some of you have heard,
I was, I didn't know we got a new TV.
I'm laying in bed, looking, I'm approving the new DailyVee and
it's so amazing what your eye, it's amazing when you get used
to something UI/UX-wise that if something changes you're like
what was that?
And you don't even, it's subconscious right?
You're so used to it.
I'm in the app, it's not launched yet.
I have to approve it, make sure, you know,
DailyVee's super scary for me by the way for all we make 'cause
I'm in real business meetings and one word slip,
one name slip, so I have to actually watch these
before they come out.
First time I've ever watched my own content,
it's kind of weird.
And I'm like, "What the fuck is that?"
There's like this weird icon, I click it and then fucking
DailyVee's playing on my TV.
Zero friction.
And I said holy shit this would work for my mom.
And that's when I know we're close.
- Yeah. - Right?
- Did you see, did you test LBI?
They're now doing I think it's three times a week they're doing
a morning show live on Facebook. - 100%.
- It's going there. Do a sit-com.
I'm 100% behind that idea for this sit-com as well.
- Down in the front here. Good luck, Louise.
(audience laughter)
- Pass the mic on.
- [Gabrielle] Hi Gary. - How are you?
- [Gabrielle] Hello.
I'm Gabrielle Baker and I am probably alone here in that I'm
in the creative space as a voice actor.
I don't think there's any voice actors here.
But, I'm slightly techie as well.
- Mhmmm.
- [Gabrielle] And I'm very into social media and I've been
following Gary for few years now.
And I really enjoyed your Fiverr
#AskGaryVee the other day.
Mainly because the guy had such a gorgeous voice and I loved
listening to it on my podcast.
But in my community there's
so much hatred for Fiverr and
I've stopped talking about it
because I get these disgusted looks.
- Are you kidding? I have literally death mail from
designers in my inbox from the Fiverr episode.
- [Gabrielle] Because we don't like to work cheap.
- Because they're losers. - [Gabrielle] Yeah.
- And let me explain why I say that and I'm thrilled and
I know everybody's watching.
Any time you're mad that there's a marketplace that drives down
the cost of your craft and you don't realize that if you're the
best at your craft that has no impact on you,
you're a losing romantic.
There's people that--
- But we're accused of damaging
the industry if we market
ourselves on Fiverr.
You're bringing us all down.
You're bringing the rate down.
You're killing the industry.
- A lot of people like Communism.
(audience nervous laughter)
- Feel free to tweet that.
- Guys, guys, guys like
I get paid $80,000 to give a speech
and do shit like this.
I did this for free.
I get to decide what I do.
You don't get to decide.
Like the speaking coaches, the speaking bureaus of the world
don't get to tell me to do this for free or not.
- You decide. - I decide.
- So should I use a pseudonym for a 5 buck gig?
- [Gary] No, I think everybody
should do what they have to do but--
- Just as a platform to sort of advertising.
- [Gary] It's elitist at best. It's elitist at best.
I have a huge community that makes no money.
Maybe you've been seeing this and it's been weird it's this
little niche thing I've been doing,
I've been pushing this eBay thing, right?
You know why?
Because I'm getting a thousand fucking emails a week from
people like, "Gary this $200 I made this week,
"like I'm feeding my kids."
Like, "I bought a nice shirt for the first time."
Like who are you designer to tell people that
they can't make a $5 design?
Just 'cause you have it good and you can get $500?
They don't have any money and they have no awareness.
And they don't know how to get people to buy their $5 logo.
So here's a platform.
You gonna be made at eBay?
You gonna be mad at the internet?
You gonna be mad that the car
was invented when you had horses?
(audience laughter)
You gonna be mad when VR comes along and
wipes out all the internet businesses?
Should we feel bad for News Corp that the internet came along and
Facebook and Snapchat came along?
Should I cry for MTV 'cause Snapchat came along?
We're thrilled to laugh at big companies that get arbitraged
'cause it's in our benefit but
when it hits home, oh.
And so, that's Nazi Germany.
Oh, it's just the Gypsies, who gives a shit?
I'm not a Gypsy.
Oh, it's just the Jews?
I'm not a Jew, who cares?
- [Gabrielle] And it's not $5 anymore. Is it?
Because you can-- - If it's one cent.
Fucking if they keep yelling at me I'm gonna start a website
where people do shit for free.
(audience laughter)
Because I do shit for free now and I'm rich
as fuck and I don't have to because I think it's in my
vested interest for the exposure or the context or I'm trying to
build relationships in a new market.
I get to decide not your fucking elitist fucking opinion.
Get the fuck out of here. (audience laughter)
Fucking pisses me off.
- [Gabrielle] Thank you.
- So Adam, we're sitting here next to GaryVee,
he just did the rant, how cool with that?
- It was a good rant. - That was great.
- [Gabrielle] By the way, Gary, I've got--
- By the way, let me say something real quick.
And I respect people's opinions on the other side.
I respect it, I respect it.
I do, like everybody has, they're more than entitled.
I don't think I'm right.
I think I'm right for me.
And I just don't want somebody to tell me
what I can and can not do.
But like, we have to recognize market behaviors.
They're real.
There's people that get paid
$100,000 a day to shoot photography.
And then there's people that do it for free.
That's just the game.
And I think what people don't understand is there's a lot of
people that are at zero.
They're at zero and like some of these platforms can help and by
the way, I don't, I'm not standing up.
I don't give a fuck about Fiverr.
Fuck Fiverr.
This isn't about Fiverr.
This is about marketplace dynamics.
This is about capitalism.
This is about who am I as a
human being to tell you what to do?
You do you.
You guys have been seeing this from me more and more lately.
I'm not telling you to work 18 hours a day.
You might get divorced.
Like I don't want that.
I don't want an email in 20 years saying,
"I listened to you. I made a million bucks
"but my kids hate you, hate me."
Like I don't want that.
I'm telling you what I do.
You can use it as a context point and figure out what you
think but let me just say one thing,
hard work always is gonna matter.
I just want to make sure that part doesn't get lost.
I'm sorry but it's true.
Like it's just forever.
Forever like there is nobody,
there's nobody who did it on no hard work.
It just hasn't happened.
Show me, show me.
You know, I made that video the other day I guess it was a
DailyVee and it opened with Beyoncé,
people love, Beyoncé's got it so great.
Beyoncé worked her fucking face off since she was,
her fucking dad made her dance
since she was four every day of her life.
Like everybody sees what it's at when it's good.
You guys see this now.
I didn't have a fuckin' childhood.
I worked every minute from 14 to 30,
all of them.
Like, you know and so like
I think that we have to factor in these things.
- Yeah.
I have a question that's come in from Twitter from one our
bloggers here, from one of our actual writers Dom Burch.
He recently wrote an article about is it time to call
bullshit on influencer marketing.
- Right.
- He wants to know your thoughts on it.
- I think influencer marketing
is one of the best deals in the world.
- There it is.
- So I guess, now, now, now to that point,
to that point we have to get
into details a lot of this is headline reading.
I think there's a ton of influencers that are overpaid.
I'm obsessed with the long tail of influencer marketing.
There are so many people with 300 to 3,000 followers on
Instagram that will do so much good for your business you would
not believe and there's people that have 100,000 followers and
good engagement too by the way, it's not just the bought 'em,
good engagement but they've pimped every fucking thing under
the sun so the depth of their
promotion or sponsorship is not real.
I've never pimped anything so when I do it,
it would mean something and then somebody will posts some sort of
fucking waist thing and fucking tea shit and fucking all that
shit that you see 24/7 you know after you see them pimp
something 98 days in a row you just might not take their
opinion for as much value as somebody else, right?
And so, I think that I'm very hot on influencer marketing.
I think it's, I just attention arbitrage.
Show me a human being that's got a big audience in a niche that
I'm trying to reach and she or he doesn't know how to price the
value of their distribution and I'll show you a very happy kid
that loves those kind of scenarios.
- I've got gentleman second row.
Been waiting patiently.
- [Man] Hey Gary. - Hey brother.
- [Man] '97, '98 I had a Frank Zappa quote on the front
of my master's dissertation on the future of publishing.
And I'm gonna tell you that Frank Zappa quote and
then I have a question for you. - Please.
- The algorithm can tell you a story but can't tell you the
whole story, it just doesn't have the eyebrows.
- [Gary] Interesting.
- Who do you think today has the eyebrows?
- I think that's a really cool, that's really cool.
So I think the people that have the eyebrows are the ones that
are not romantic around the subjectiveness of the art and
realizes there is a process to create a lot of the art to get
context on what the consumer actually wants.
So what he's referring to I think and help me here I believe
that the art of marketing, right,
the creative is the magic.
It's the variable. It 100% is.
It's not the math, right?
However, I believe that there is now the opportunity to create a
lot of the art, bubble it up at scale,
not be romantic that you're the only human being that knows
the voice or the brand or the right song.
Put it out and let the audience,
do you know how much more successful,
Drake the artist.
This mother fucker's put out like 80 songs this year already.
Do you know how smart that is?
Do you know what he's doing?
Why it's so smart?
Every artist that we know, all those Prince songs,
right, that are in the vault.
In 2016, Prince would have put them all out.
What you're gonna see from all your artists is if they believe
in it, they're gonna put it out.
They're not gonna be stuck to the you need 12 songs in the
album or some fucking partner at Sony music saying what's this
album, what story is this album telling?
I mean so the people that have the eyebrows that are the ones
that realize that the art is the magic but let's cut some of the
bullshit out of the the human bullshit out of the art.
- Okay, we've not got a lot of time left so we're gonna take
one more from the floor.
We'll take one more from online. - Yeah.
- And then we'll finish up. Louise, you choose.
- I'm feeling good.
I'm willing to be 10 or 15 minutes late.
- Okay. - Yeah, I would do this all day.
- Okay, Louise would you just happily pass the mic along.
There we go. - Oh, new system, the pass.
I was literally when she's gonna figure out the pass is the game.
- We're gonna learn.
- [Kevani] Hi Gary. - That was a good pass.
- [Kevani] My name's Kevani.
I'm 18, I'd left secondary school,
high school around 10 months ago.
Since then I've co-founded an app that basically allows guys
to pre-book any barber
whilst being rewarded for their loyalty.
We are, a majority of our team is black from the African,
Caribbean community. - [Gary] Love it.
- Understand you grew up in Jersey,
around the hip hop renaissance 80s.
- [Gary] I did.
- I want to know how you suggest we represent our culture without
exclusivising ourselves.
- I want to make sure I caught the last part.
How we represent our culture with what?
- Without exclusivising ourselves.
'Cause if you look at companies like FUBU.
- [Gary] Yep.
- They were very black. - [Gary] Yes.
- Their consumers were very black.
- [Gary] Yes.
- But hip hop was used to grow brands like Adidas,
Puma, not really stuff that belonged to our community.
- [Gary] Yes, yes.
- So how would you suggest we do that?
- I think it really comes down to what you guys and gals,
I don't know your team but what do you want to accomplish?
- We want to revolutionize the barber industry.
We want every barber to be booked through our.
- Well then, I think you need to think about every culture and
every person because you're trying to boil the ocean.
So I think there's a lot of ways to do that.
Look, I think, and this has obviously become a little bit
more of a topic because I've been doing more stuff in the
hip hop, you know, I did the Breakfast Club and
that got ridiculous.
And so that brought people awareness and
they're like wait a minute.
And then people scoured my Instagram and are like why is
Gary have all these college friends that are black?
(audience laughter) All this stuff.
So this conversation has bubbled up a little bit.
I truly believe what I'm about to say which is,
one, I think entrepreneurship is rugged and is very raw.
And I actually believe the more disadvantages you had growing
up, it's a better proxy for success.
So I've made more money on female entrepreneur-backed
companies than any thing else I've ever done.
I just want to win so I could care less--
(audience member applauds)
You like that one? (audience laughter)
I'll tell you that I'm far quicker to not
want to do business with a New England Patriots founder
than black or a girl or an alien
or anything, you know, so I think that,
I think there's a couple things about.
Number one, I think that you have to bet on strengths which
is where I'm going.
So I think one when you're a minority or when you have the
fight harder than a white dude, I think you need the first of
all channel that chip.
I think I'm successful and I think a lot of people are
successful in channeling adversity.
Number two, if your goal is
to revolutionize the barber industry,
I think what you do is you win on
your actions and nothing else.
Meaning just building a successful business is the best
thing you can do for the question that you just asked
because I think spending any time or energy on the narrative
is not going to accomplish anything
in revolutionizing the barber industry.
There's one amazing thing about the market,
the market, the market the one I love so much based on your
question, the one I love so much,
they don't care who invented it.
If it's good for them they want it.
They're just real like that.
That's what I love about the market.
The market is the only thing that's not prejudice.
It's the market like they just want what's good for them and
they don't care who the founder was.
You don't know who the founder is of anything you got.
Like you don't know the back story of anything you're
wearing, using, buying.
You just want what you want.
And so, I would tell you the best thing you could do is
actually just build a big business.
And not worry about that narrative because I think if
I cared about doing something right for the Russian Jewish
immigrant community, being successful is the best thing
I could've done. Right?
So I would tell you that.
Now on the same token, I'll tell you them probably gonna leave a
lot of money on the table in my life because I much more
passionate about having a legacy of helping entrepreneurs than
I do in maximizing a couple hundred more million dollars.
If you have passion around the narrative of what you can do,
rise up others in your community,
then you start spending some of that time and energy on it.
Two things, one, first build the business 'cause it'll give you
leverage to do that later and two,
once you feel like you got a foundation where all of you have
got a little something and you're feeling good,
then you can start trickling
some of that stuff 'cause it all takes energy.
It's all opportunity costs.
Like this right here tonight is at the expense of something else
I could be doing and there's millions of things I could be
doing that would be making me more short-term money.
There's millions of things I could be doing that could
build my brand bigger.
To me, this market, these guys,
was the right vibe when we met
for drinks of the founder.
This community, like so you know,
you make your decisions but I would tell you I asked you a
very specific question 'cause it's the right question.
If you want to revolutionize that industry.
That's for everybody and
that needs to be what you focus on first.
You can get back to doing the right thing for your community
three, four, five, six years from today not doing anything
except building the business 'cause you'll use that leverage
to actually do it.
I have a second question for you, sorry.
- [Gary] Okay.
- At this age you were probably quite
similar minded to someone like me.
Quite entrepreneurial, trying to set up a business.
How do you balance the patience
and the impatience at this point?
- You know I,
and I'm glad you asked that and tall dude referenced it.
One of the best things that I think I've done for young
entrepreneurs is tell them that my addiction is patience.
How'd I balance it? 'Cause I knew it mattered.
Like all you kids are fucking up because you want shit now.
- Yeah.
- And you will lose every time.
You lack practicality.
You want shit now.
You're 18.
If you get nothing for the next 12 years,
just fucking eat shit, grind, hustle, do it.
Nothing.
You'll be 30. (audience laughter)
- [Stephen] And?
- I mean I would rip my arm off to be 30.
I'll give you my arm for 10 years.
For 10 years, I'll give you my arm.
- [Adam] Take me back.
- So, I would tell you how did I balance it?
Because I'm a winning player.
Because I know how to build million dollar things.
And million dollar things don't happen with shortcuts.
- Yeah. - Good luck.
That sounds like a business.
- Perfect answer.
Before you put the microphone down,
do you want to be on one of these shows 'cause you seem
like an interesting individual and what you're doing seems
amazing as well. - Wow.
- Sweet, we'll talk afterwards. (audience applause)
- Okay.
- Secondly, you do business with somebody from outer space
instead of a New England Patriots fan?
- Yeah, I mean there's nothing worse on Earth than
a New England Patriots fan. (audience laughter)
- I'm a Dolphins fan so it's fine.
(crosstalk)
- Let's keep going unless you guys are stuck.
- Can I come to you after going to the internet?
- Yeah. - Just dive through.
We've had loads and loads of questions
coming in since we last got one.
Somebody asking would you rehire them.
I was like I'll go past that one.
- Is that true?
Oh my God, I'm love Jeremy. - Yes, yes, yes.
- Jeremy send me an email. Send me an email.
That's amazing. - There we go.
That's fantastic.
Jobs!
- That's awesome Jeremy.
- We got loads of questions, I'm gonna pick,
where do you the e-commerce
will be heading in the next five years
or what advice would you give recruiters looking to grow
their social presence to engage with candidates?
- I think recruiters need to prove to us
what value do they bring.
And so I think recruiters
would be very smart to put out content.
And content they would normally, so,
the number one advice I have for people that sell their services
is to give it away for free on the internet.
Let me explain.
I give all of you all my best marketing advice every day.
I have agency competitors, I have other people that take my
content repackage it,
market against GaryVee fans on Facebook
and sell it back to them for
$400 e-books and my fucking fans buy it.
(audience laughter)
Yeah. You know how much that hurts?
But, I don't care.
It's the right strategy and here's why.
A, and this is gonna blow your mind,
98% of people aren't gonna do anything about it anyway.
That's the crazy one.
B, if you keep doing it, if you keep doing it something innately
human takes over and people start understanding the
difference between the people that provide value and people
that are trying to take value.
And I'm winning on that. - [Adam] Yeah.
- Because the one thing that people haven't really figured
out of what I'm actually doing
is my behavior is one big case
study in the difference between
branding and marketing versus sales.
If you look at what I've done over the last five to seven
years versus what a lot of
people that look like me have done,
they've tried to transact you and monetize you
and I haven't.
I've tried to build a brand on you.
And what ends up happening is I end up winning that race in
the long term because your word of mouth,
your appreciation, your support, trumps the short term returns
that other people do.
So if I was a recruiter, I'd be putting out advice.
You may think you've got three little things that you tell a
candidate about your resume, about something that that's the
secret sauce and you've converted well.
That shit needs to go in public and get shared and then bring
more people to you, not less.
Because what people haven't
understood is advice, in general,
the way I'm doing it right now, can only be so good.
Right, like that's why I do Q&A because I can add three or four
more context levers where you may not agree with me or
where we need to finish the thought and
we end up being in a more similar place,
we're in a different place or
something that I can round value around.
Every recruiter can give their best advice but then when they
meet you are gonna listen to you and have to give me three or
four other data pieces of advice
that they could never do with their content.
But they haven't figured that out.
They think they're in the advice business
so why would I give it away?
Back to Fiverr, I give everything away.
Fiverr haters.
You know and so that's what I would do.
As far as were e-commerce is going,
I think they're gonna put malls out of business.
I'm kidding. Kidding. (audience laughter)
I'm kidding, I'm kidding.
How many people in e-com or flirt with it or play with it?
Not a lot of people here, a couple?
Yeah, it's true, right.
I couldn't imagine not making every decision today around
e-com based on a mobile only environment and
I don't mean iPad, I mean your cell phone.
So that would be the number one thing I would say.
For you to be in e-com and not every behavior you're doing is
okay, 84% of our business is desktop and 16 is mobile,
but let's do everything in our business right now with it being
about mobile and all the business we get from desktop is
gravy until the shift.
- Do we have any recruiters here?
- Nope.
- 'Cause that's basically all
I get from recruiters is stuff like that.
(audience laughter)
And if you just stop doing that and listen to you.
- What does it say?
- Oh, it's I'd like to add you to my network on LinkedIn.
It's just Batman and Bane. - Okay.
- Yeah, I mean look, I mean spamming people on LinkedIn is
not a marketing strategy.
- There's so many recruiters still do it.
- 'Cause it works.
Because people hate their fucking jobs.
They're like, "Oh, hope this guy can help me."
(audience laughter)
But pay attention to what I'm saying
'cause those were two contradictions.
So that's a recruiter
that's gonna win on sales and transactions.
The one that listens to my advice wins on brand.
Right, the reason I sell 100,000 copies of my book the first week
and not 1,000 like all the other people is they're transacting
and I'm marketing. - Cool. Stephen.
- Gentleman here. - That t-shirt is amazing.
But not at the same time. - I love it.
- [Rafal] Hi.
Thanks for being here, thanks for doing what you're doing over
the last couple of years online.
I've got three things that will try to be very fast.
- [Gary] No problem.
- First of all my name is Rafal.
I came to the U.K. around 10 years ago.
I'm from Poland.
So it's kind of like you,
I was born in Communistic Poland.
- [Gary] Yes. - In mid-80s.
For the first five years, I was doing different kind of day jobs
here and over the last five years I do my own business.
I started as a photographer,
then I went into video and I'm doing okay.
That's my project that supports me,
my wife and our family so that's good.
Over the last year and especially the last couple of
months, I started doing much more
200, 300, 500% more than I was doing last year and
suddenly there was no much time to sleep.
(laughs)
I've got my passion which is video and I have
another source of income which I'm starting which is in
financial market and
that would bring me
much more money than my passion.
How to find a balance between--
- Family, passion, income. - [Rafal] 22 hours of work.
- Yep.
- [Rafal] Between what I like to do between what I know would
bring me much more money. - Yep.
Yeah, it's a great question. - [Rafal] Keeping it growing.
- First and foremost it starts
with you communicating with your wife.
First and foremost.
That is the most important thing.
- [Rafal] She's on board, she's fine.
- (laughs) So she's benefiting.
- But it's super important.
Like, first of all you have to make sure that you're creating
the environment for her to tell you the truth.
Right, because she may be in a position where sure but maybe
it'd be nice to have date night or more time with the kids or,
and this is something that
Lizzie and I go through every day.
I'm always trying to create more protection.
I did it very aggressively this weekend.
Where I'm like, this last six months has been really like,
like I'm even scared that I'm so on this high that I've been
thinking about how am I gonna stop this.
Like 'cause this is not sustainable.
I don't even want this for myself.
Like the way I'm going right now,
over the last six months, I don't even want it.
I don't even want it.
But what's crazy is like it's fucking like, right?
Like the high is so intense I'm like fuck,
the coming off that high is gonna be hard.
- [Rafal] I know what you mean. Sometimes it's 2 A.M.
I don't want to go to sleep but I know I need to.
- So I will say one thing, this is a good opportunity for me.
Let's make sure we get this on
my Snapchat 'cause I want to get this.
This is my next thing I'm gonna pound.
I'm a huge fan of sleep.
I'm a big believer in sleep and
I think everybody should sleep a lot.
I mean it.
I'm actually trying to sleep six or seven hours every day.
It's not happening for me all the time but I'll sleep 10 hours
if I can from a Friday to a Saturday.
Sleeps massively important.
I'm more worried what you're doing while your awake.
Right?
I'm worried about people lolly gagging and bullshitting and
playing "Candy Crush" and fucking,
you know, that.
But sleep I'm all in on.
I think it's communication. Right?
I think it's balance.
And I think the other thing that you guys have to figure out and
it's for everybody.
Everybody has their own thing.
You can't worry about what other people's relationships are.
You've got you guys, you've got your feelings towards what you
want to do professionally.
Your kids, money.
And you have to understand the most important part,
it changes every day.
There's no rule.
There's no, in those three things,
more money, passion, family, right?
33, 33, 33.
Tomorrow 40, 7,
like, you can't figure this out.
This is, there is no work-life balance.
There is no happiness-money balance.
There's all of us just trying to do the best we can.
What won for me and what I'm trying to push harder and try to
figure out how to communicate
this to you is do you know yourself.
That's when you start winning.
I know who I am and then that's why I'm able to do what I do
because I'm always picking the thing that makes me the happiest
and then I'm just making sure that everybody around me
that's affected by that,
where do they sit on that pendulum of
being okay with it.
Because if I'm not doing what's best for me,
well then I can't support everything else and,
as you can imagine in my life, I support a lot of things.
And so I'm, you know, it's just constant,
it's a living and breathing thing and
it will never be solved.
It just once you make that decision and you realize it can
ebb and flow and you have to know how to concede at times,
you have to patient. You know?
I love calling patience but then I'm in my own like momentum
moment I'm like okay to be patient and so you just fight
but there's, I'm not gonna be able to answer that for you.
Nobody is.
You gotta answer it for yourself.
And I would say the other thing is every time you're not feeling
good, tweak the numbers.
Every time, that's what I do.
You haven't heard from me maybe ever for the people that watch
me hard-core saying
I don't want to go at this pace.
It's because in the last week or two I'm like
I don't want to go at this pace.
Like 20 hours, I need to figure out like this fall I'd really
like to pick one day a week where I go home at 6 o'clock
just stay home.
Like I'm really trying to figure it out.
We'll see. - [Rafal] I agree.
It is a choice and we try to have at least once a week date
night and stuff like that to make sure that's happening.
- [Gary] That's huge.
By the way, by the way. - [Stephen] Hold him to it.
- And by the way,
I've gone months without having that with Lizzie.
- [Rafal] We're trying. Not every time we made it happen.
- It is what it is. It is what it is.
- And another one, quick one.
- [Stephen] Double bubble. - Very quick.
I would like to be and do what I can to help you if you need me
to be your DRock in the U.K. or in Europe.
- [Gary] Okay.
- I do video, yeah, and I can do it.
- [Gary] Great.
- I'm more than.
- [Gary] Gary@VaynerMedia.com say you're the guy with the
"Ideas Are Shit" shirt and I'll get you connected with DRock and
we'll figure it out. - [Rafal] Okay.
Let's speak.
- So I'm well aware that our three bosses have been standing
for an hour and 15 minutes to make sure
everyone else got seats. Thank you bosses.
- Thank you bosses. - Thank you bosses.
- Stay standing.
- So we are going to close with one final question.
- Okay. - What's next for you?
(audience laughter) Other than sleep?
Other than sleep, what's next for Gary Vaynerchuk?
- I'm a counterpuncher.
I'm a counterpuncher and when you're a counterpuncher you have
no fucking idea what's coming at you.
You know? And that's who I am
and so what will be next is what's always
been which is I'm really good
at understanding white spaces in consumer behavior.
The stuff that you guys are not thinking about,
don't realize or don't realize you're gonna do and I like to
pay attention to that human behavior.
I like to figure out how to story tell whatever I want to
tell in that platform and
then I become a practitioner when I see it.
And then I test and learn, I test and learn.
The stuff I'm learning about Musical.ly right now may work
for me if Musical.ly becomes the next Snapchat or may work for me
in three years when something similar-ish to it and the things
I learned from Musical.ly in the way that
I learned a lot from SocialCam.
You remember that five minutes? You know?
That app was very hot for literally five minutes but it
became the foundation of what Snapchat and Instagram video and
Vine and I learned.
And so,
what's next is enormous amounts of listening while
everybody thinks all I'm doing is talking.
- Well, we've all been listening and it's been fascinating.
Before we finish just would like to say a quick congratulations.
Adam's just been promoted this month
to Head of Social for The Drum.
Well done him.
(audience applause and cheers)
Well deserved. - Thank you.
You shouldn't have. Oh you.
- I'll let you finish up. - Yeah.
Because this was a live recording,
I'm gonna finish it off like it is a TV show.
- You got it.
- Shit! What do I do? (audience laughter)
Thank you very much for Gary Vaynerchuk.
- Thank you.
- Thank you for coming along and
Stephen Lepitak, my guest.
- Oh thank you. - Take that.
This has been another edition, a special one of SM Buzz Chat.
- Let's be honest, the best. (audience laughter)
- This has been the second best edition of SM Buzz Chat.
- Can I ask a quick question?
You were recently interviewed by Larry King,
what was a better experience this or Larry King?
- This was better. - Yeah.
(audience applause)
- Because there was humans in here.
No, no, no, no, no, no.
Who, what did you think was the best one?
- No, you are the best one.
It's fine. - Okay.
- It's fine. It's fine.
Ooh, fuck. Jesus.
- Right, close up, close up.
- So, thank you very much for Gary Vaynerchuk joining me for
the best SM Buzz Chat we've ever had.
Wink.
We'll be back, we have another episode very soon.
- Not as good as this one. - What? Won't be as good--
- This is not just the best,
this is the best one you'll ever have.
(audience laughter)
- It's the worst ending to one ever.
- Should we do it again? - No, keep it.
- Thank you very much for Gary Vaynerchuk for joining me
this has been the best episode and is the last episode we're
gonna do 'cause it's never gonna get any better.
- Never gonna get better.
- Bye everyone. - But if you liked this we
could probably start doing stuff again.
Follow us @TheDrum, @BuzzAwards on Twitter.
I've been Adam Libonatti-Roche, @baconchin,
go on explain.
Say who you are on Twitter or Snapchat or Instagram and
Pinterest and Vine. - Don't need it.
(audience laughter)
- I don't need it either.
- Thank you to our live studio audience.
- Thank you guys. - And it's been lovely.
(audience applause)
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