What Do you think Jayo should do with his $100,000? | Tea with GaryVee In Depth Convos❤️

Summary

Summary of "What Do You Think Jayo Should Do with His $100,000?" | Tea with GaryVee In-Depth Convos❤️

Podcast Information:

• Title: The GaryVee Audio Experience
• Host: Gary Vaynerchuk
• Episode: What Do You Think Jayo Should Do with His $100,000? | Tea with GaryVee In-Depth Convos❤️
• Release Date: April 4, 2025

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Introduction

In this episode of Tea with GaryVee, entrepreneur and CEO Gary Vaynerchuk engages in a candid and passionate conversation with Jayo, a former Papa John's general manager contemplating the best use of his $100,000 savings. The discussion delves into Jayo’s options: launching a pizza business or investing in real estate by mortgaging a house.

Jayo’s Background and Current Situation

Timestamp [00:14] Jayo introduces himself as a former top general manager at Papa John's, currently residing in Brazil while maintaining an apartment in Florida. He shares his recent departure from Papa John's to spend valuable time with his mother in Brazil, emphasizing the importance of family.

Jayo: "I worked at Papa John's for a while, and I was the top general manager there. Now, lots happened. I ended up leaving Papa John's and spending time with my mom in Brazil. It's making me a lot, very happy because you only got so much time with your mom, with your family."

The Dilemma: Pizza Shop vs. Mortgage a House

Timestamp [00:44] Jayo reveals his dilemma: with over $100,000 saved, he’s torn between opening a pizza shop—a venture aligned with his experience—and mortgaging a house for stability.

Jayo: "I got, like, a little over 100k saved, and I'm like, damn, do I open up a pizza shop or do I mortgage a house?"

He highlights his expertise in managing food and labor costs, yet expresses fear of risking his entire savings on the business venture.

Gary’s Initial Reaction and Encouragement

Timestamp [01:06] Gary responds enthusiastically, praising Jayo’s dedication to family and his entrepreneurial spirit. He interprets Jayo’s hesitation as a conflict between pursuing his passion and opting for financial security.

Gary: "I'm telling you right now, fuck the family vibes. I fucking love it. You're exactly right. Spending time with moms in Brazil, it's so proper. ... I believe that you want to open the pizza shop, but you think the right thing to do is buy the house."

Exploring the Options

Mortgage a House

Timestamp [01:43] Jayo considers the mortgage as a safer bet, providing a stable roof over his head. He mentions already owning an apartment worth $85,000 and receiving additional funds from savings and an inheritance from his late father.

Jayo: "Because what if it's the last hundred K I ever have, you know? I mean, it's a mortgage. ... I have an apartment already. I bought for 85k."

Gary challenges this choice, urging Jayo to prioritize his entrepreneurial drive over conventional security.

Open a Pizza Shop

Timestamp [02:25] Gary passionately advocates for opening the pizza shop, questioning Jayo’s hesitation and emphasizing his potential to build a successful business.

Gary: "You better open up a pizza shop, Jay, or I'm gonna beat your fucking ass, you motherfucker."

Despite Gary's strong stance, Jayo remains contemplative about both options.

Assessing the Viability of the Pizza Business

Timestamp [02:38] Jayo defends his choice by discussing the strategic location in Lauderdale Lakes with a population of 450,000 potential delivery addresses and the proven success of Papa John's in that area.

Jayo: "I looked at location, it was like, damn, I got like a area of about 450,000 people I could deliver to."

Gary suggests starting with a pizza truck to mitigate risks, but Jayo prefers a fixed location.

Gary: "What about a pizza truck first with a little less risk and a little bit more mobility."

Jayo: "I would rather a specific location."

Gary’s Persuasive Argument for Entrepreneurship

Timestamp [03:19] Gary intensifies his encouragement, asserting that Jayo’s real choice is between entrepreneurship and complacency. He challenges the logic of choosing a mortgage over a business venture despite Jayo’s proven dedication and work ethic.

Gary: "Listen, I actually think neither is exactly right. What's right is what's right for you, Jay. O. ... Open the fucking pizza shop."

He further questions Jayo’s commitment by highlighting his willingness to work extensive hours and his industry experience, dismissing the conventional advice of buying a house.

Gary: "You're willing to work 100 plus hours a week. ... You know what it is? You watch those people roll into that store and eat that below average pizza. Are you gonna make."

Jayo’s Clarifications and Gary’s Reiterations

Timestamp [05:07] Jayo clarifies his professional background in hospitality and his confidence in making better pizza. Gary dismisses formal education, emphasizing hands-on experience and the urgent need to act on entrepreneurial instincts.

Gary: "You lived it. I don't give a. If you told me you went to school for hospitality, I'd tell you to buy a house."

Jayo: "I went to school for hospitality, so it's my industry."

Gary: "And I don't give a. ... You tasted it. You know what it is."

The Emotional and Long-Term Impact

Timestamp [07:27] Gary warns Jayo about future regrets, urging him to prioritize building his business over securing a mortgage, suggesting that the entrepreneurial path offers greater long-term benefits and personal satisfaction.

Gary: "When you're 60, you're gonna think about this conversation your whole life and regret not opening the pizza shop. ... If you buy this house and regret it your whole life."

Conclusion and Final Advice

Timestamp [08:34] While Jayo remains torn, Gary leaves him with a stern reminder of the potential missed opportunities, reinforcing the importance of following one’s passion despite uncertainties.

Gary: "I need the holy. ... Make pizza, bro."

He concludes by emphasizing the necessity of action over contemplation, encouraging Jayo to commit to his entrepreneurial dreams.

Gary: "I appreciate that, Joe. But now you have to act on it."

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Key Takeaways

• Embrace Entrepreneurship: Gary stresses the importance of taking risks to build something meaningful, especially when driven by passion and expertise.

• Challenge Conventional Wisdom: The conversation highlights the tension between traditional financial security and the pursuit of entrepreneurial ventures.

• Future Regret vs. Present Action: Gary emphasizes the long-term implications of decisions, urging prioritization of actions that align with personal goals and aspirations.

• Support Systems: While Jayo has familial support, the decision ultimately rests on his own vision and willingness to take bold steps.

Notable Quotes

• Gary Vaynerchuk [01:06]: "Listen, first of all, you're fucking awesome. Straight up, okay? Like, I fucking love all your energy right now."

• Gary Vaynerchuk [04:23]: "You better open this pizza shop because you know what to do."

• Gary Vaynerchuk [07:06]: "You're gonna build a multi million dollar business for yourself. Your life's gonna be 30,000 times better."

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This episode serves as a powerful exploration of the crossroads many entrepreneurs face between securing financial stability and pursuing their passion projects. Through Gary Vaynerchuk’s fervent encouragement, listeners gain insight into the mindset required to make bold business decisions and the importance of aligning choices with long-term personal and professional goals.

Transcript

[A]

Good morning. Good morning. Good morning. This is Tea with Gary Vee. I'm your host, Gary Vaynerchuk. Thank you for being on. I'm taking questions live right now. I'm open for business. Jail or Jayo. What's good, brother?

[B]

Hey, what's going on, Gary Vee?

[A]

You well?

[B]

Yeah, I'm doing well. I'm doing well.

[A]

Where are you? Where are you from? Where are you calling from?

[B]

I'm in Brazil right now, but I live in Florida. I have an apartment in Florida, so I spend a lot of time over there.

[A]

Pleasure. My man. What's your question?

[B]

I worked at Papa John's for a while, and I was the top general manager there. Now, lots happened. I ended up leaving Papa John's and spending time with my mom in Brazil. It's making me a lot, very happy because you only got so much time with your mom, with your family. You know what I mean?

[A]

That's amazing. That's amazing. That's exactly right.

[B]

I got to get back to work, you know what I mean? So I got, like, a little over 100k saved, and I'm like, damn, do I open up a pizza shop or do I mortgage a house? You know what I mean? And the risk of opening a pizza shop now, as a top general manager, I was strong with food and labor, so I know I could keep my costs down. But damn, if this is my last hundred K, would I open up a shop or would I mortgage out a house?

[A]

Listen, first of all, you're fucking awesome. Straight up, okay? Like, I fucking love all your energy right now. I go on my intuition. I'm telling you right now, fucking the family vibes. I fucking love it. You're exactly right. Spending time with moms in Brazil, it's so proper. I'm so. You'll never regret doing it. You'll never regret it. I'm so glad you did it. I also get that. That you're young and hungry and ambitious and you're ready to get back to work. You're getting antsy, you're ready to build. I believe that you want to open the pizza shop, but you think the right thing to do is buy the house. That's what I believe.

[B]

Yeah. I definitely want to open up a shop, but I just feel like the house is the way to go.

[A]

Why?

[B]

Because what if it's the last hundred K I ever have, you know? I mean, it's a mortgage. I can mortgage out a house, bro. Bro, you can have a roof over my head. You know what I mean?

[A]

You can Rent an apartment and have a roof over your fucking head.

[B]

I have, I have. I have an apartment already. I bought for 85k. It was a good move. I saved up some money from Papa John's and some money my dad left me before he passed away.

[A]

I'm sorry about your loss, bro. Listen to me, listen to me. I'm confused now. You already got an apartment, but you're trying to buy it and you, you. Oh, you own an apartment, right? You better open up a pizza shop, Jay, or I'm gonna beat your fucking ass, you motherfucker. Get the fuck out of here, J O. Build a fucking pizza shop, bro.

[B]

People, because people ask me, they say, would you do. Would you. Because I love dogs, you know? So they say, would you open something up with dogs? I'm like, no. Would you open up a steakhouse? No. Would you open up a gym? No. But would you open up a pizza shop and say, yeah.

[A]

Do you think you can fucking build a successful pizza shop? Do you know how to find a prop? Do you feel like you. You know how to run one? Do you think you know how to find a good location so you're not fucked from the get?

[B]

Of course I looked at location, it was like, damn, I got like a area of about 450,000 people I could deliver to. And that's just delivery. You know, there's carry out.

[A]

And where would you, where would you build it be?

[B]

Lauderdale Lakes. Papa John's. Lauderdale Lakes. Makes 60k a week. If I could make half of that, I'm good.

[A]

What about, what about a pizza truck first with a little less risk and a little bit more mobility. Thoughts on that?

[B]

I don't know if I would make. I would get a truck. I would rather a specific location.

[A]

I get it. Listen, I actually think neither is exactly right. What's right is what's right for you, Jay. O. Listen to my face. Open the fucking pizza shop.

[B]

I hear you, bro.

[A]

You can live in an apartment for your whole life. Let me ask you a quick question. How many hours are you going to work in that pizza shop when you open it?

[B]

I dedicate my life to it. When I was a worker, I worked 50 plus, sometimes even 70 hours. I made over $1,000 as a shift leader in a week, bro.

[A]

Are you, Are you. Are you in for a buck 50 a week?

[B]

150 hours?

[A]

Yes.

[B]

I mean, yeah, I do whatever I gotta do.

[A]

So what are we even talking about here?

[B]

I mean, I sleep at the shop if I have to.

[A]

No shit. I can see it in Your eyes. So now explain to me, what the fuck are we talking about? I have a funny feeling what we're talking about is people around you. Well intended. Want you to play defense. Is right. Listen to me. You need to open this pizza shop because you know what to do.

[B]

Yeah, I hear you. I hear you.

[A]

Who. Who doesn't want you to open the pizza shop? Tell me that.

[B]

No, it's. There's no one. I got a lot of support. My mom supports me, but she thinks the house is a better move.

[A]

Of course she does. She's your mom. That's what moms are supposed to do. Moms play defense. Entrepreneurs, you look up to play offense. So who are you? An entrepreneur Or a mom? You could be a mom later. You own a fucking apartment. You can live in it for the rest of your life. Don't give me that. I need a fucking roof over my head. You got a fucking roof over your head.

[B]

Right, right, right.

[A]

You're triggering people that don't have roofs over their head.

[B]

Right, right, right.

[A]

You're willing to work 100 plus hours a week. You did the craft, you know the business.

[B]

I went to school for hospitality, so it's my industry.

[A]

And I don't give a. About school. You lived it. I don't give a. If you told me you went to school for hospitality, I'd tell you to buy a house.

[B]

I hear you.

[A]

You worked.

[B]

Yeah, I did.

[A]

You tasted it. You know what it is? You watch those people roll into that store.

[B]

Yes.

[A]

And eat that below average pizza. Are you gonna make. Are you gonna make better pizza?

[B]

I mean, I believe so.

[A]

How do you believe so? That shit's average, my guy.

[B]

Yeah, yeah, no doubt, no doubt. I definitely can make better pizza.

[A]

Let me get this straight. Everything. You. You own an apartment, you have 100k saved. How old are you?

[B]

28. I'm thinking about doing this at like, 29, 30.

[A]

You're 28, you know exactly what to do. You're willing to bleed out of your eyes. And what you're thinking is you're gonna buy a home. A house. You got a family?

[B]

Yeah, I got a family.

[A]

How many people?

[B]

It's me, my mom and my little brother.

[A]

So they're gonna live in the house?

[B]

Well, my mom has a house too. She rents out. And then I have a house in Brazil in another apartment.

[A]

Bro, I'm gonna punch you in your mouth. You better, my man, you better open up that pizza shop. And I'm telling you right now, I love your mom's, but I'll take Her heat. I ain't scared of her. Open up this pizza shop.

[B]

I hear you.

[A]

No, I don't appreciate the advice. No, no, no, no, no, no. I don't like that energy. I. That's. That you're appeasing me and we're moving on. Energy. I need the holy. The. Was I thinking about the house? Energy from your mouth. Make pizza, bro.

[B]

I hear you. I. I can make like about a grand a week delivery, driving, or going back to a general manager position somewhere.

[A]

No, do that after your pizza shop fails, I hear. No, you can make a thousand doing that. That's your backup plan, not your fucking forward plan.

[B]

I hear you. Do you? Yeah, I hear you.

[A]

I hear you, bro, if you don't open a pizza shop, I'm gonna lose my. Yeah, you're gonna build a multi million dollar business for yourself. Your life's gonna be 30, 000 times better. You're gonna have more financial freedom. You're gonna put your mom. You're gonna take care of your moms in perpetuity and your brother and your future spouse and your kids if you decide to have them and everything, right? Build your business. You know what to do. You could take the risk. And if the money goes to zero, don't blame me. Just wipe your tears and go make $1,000 a week. Of course, the are we talking about here.

[B]

I really like listening to you. Give me a lot of inspiration.

[A]

I appreciate that, Joe. But now you have to act on it.

[B]

No doubt.

[A]

Are you gonna hang up and in two days, like, forget all this energy and then buy a house? Tell me the truth. I just need to know.

[B]

I don't know. I'm really into this house idea. This really got me, like, damn, I could have a house at 30.

[A]

Good. Buy a house and invite me to the house. Yeah, good, bro. Buy the house. That's what you should do.

[B]

I appreciate it.

[A]

Invite me to the house opening so I can come there and on you verbally. I love you, bro. Good luck. Oh, by the way, Jay, let me give you the Preview. When you're 60, you're gonna think about this conversation your whole life and regret not opening the pizza shop. I just need you to know that right now. Good news. I do know. I'm telling you right to your mouth, you were gonna. You were gonna think about this conversation your whole life. If you buy this house and regret it your whole life. Telling you to your face.

[B]

I hear you.

[A]

Okay, Good. Love you. No problem. See you. Fuck. All right, let's move on. Another one lost at sea. God damn it.

[B]

If you guys liked this segment from today's episode, be sure to listen to Tea with Gary Vee, episode 73 coming out sometime over the next few weeks. We will see you then.