Transcript
Tai Lopez (0:00)
One of my students, four years ago he was having to eat out of dumpsters. This year he's doing 44 million with 10 million profit. He's 26.
Johnny Ma (0:07)
I was initially cold calling to realtors to sell the marketing. I had like $70 to my name.
Tai Lopez (0:12)
Get what everybody says. You don't want a level playing field. You want a monopoly. Competition eventually destroys all profits. You're in sales, you got to be putting an AI angle to it and a personal brand.
Johnny Ma (0:23)
You give someone like that and put them onto a sales floor, they I guarantee that they would see at least 20 to 30k a month within the next like 2 years here in my garage.
Tai Lopez (0:35)
Welcome today to the Tai Lopez show. I have a special guest, Johnny Ma. We're talking sales teams how at 22 he's collecting a million a month. Welcome to the show.
Johnny Ma (0:47)
What's going on?
Tai Lopez (0:48)
Yeah, I'm going to talk about this book everybody should be reading. If you're not reading 0 to 1, what are you even doing? Are you even trying to make money? This book has the endorsement on the back of Elon Musk and Mark Zuckerberg. So two guys that made about as much money as any human ever. I read this every year, annually. Nassim Taleb says don't read any book unless you plan to read it multiple times. This is a book that I read once a year. So all you trying to make money. Peter Thiel is an absolute beast of a guy. He's really. He started PayPal and then Elon Musk merged he his ex company. So this is One of the OGs of the modern, you know, Internet make money venture capital. He started Founders fund with another guy named Ken Howery. A friend of mine, Ken who is one of the biggest VC fund they funded everything. They funded Uber, they Airbnb. So he's a multi billionaire. Some say he's the highest IQ entrepreneur in the world. I just wanted to give a shout out to this book because I'm, you know it's a new year so I read it every year. Look at the he's got good this if you write a book this is a good set of endorsements. Mark Zuckerberg and Elon Musk. Zuckerberg says this book delivers completely new and refreshing ideas on how to create value in the world. Zuckerberg's the only man to ever be worth 100 million under 37. Elon Musk wrote Peter Thiel has built multiple breakthrough companies and zero to one shows how. Nassim Taleb, author of the Black Swan when A risk taker writes a book, read it. In the case of Peter Thiel, read it twice or to be safe, three times. This is a classic. So every chapter. He's a very interesting thinker. One of the things is how to escape competition, right? His big thing is, forget what everybody says. You don't want a level playing field, you want a monopoly. Competition eventually destroys all profits. That's why you see big companies eventually disappear, like BlackBerry, you know, they disappeared. You see, Yahoo used to be worth 100, Bill, plus nothing. Now there's a lot of the companies that you see now will just disappear because they couldn't escape competition. So I tell people, the average entrepreneur, so I tell people, go all in on building your personal brand because legally you're not technically in the Western world allowed to have a monopoly, right? Bill Gates billed Microsoft, he got sued by the US government, antitrust fought them for 10 years, kind of won, kind of lost. You see, Mark Zuckerberg had all this antitrust stuff with Mark, with owning Facebook, Instagram and WhatsApp. Of course, Rockefeller had. It's named after antitrust, is named after Rockefeller. They broke up his big oil company and now you have companies. I forget the companies. It's like Shell Oil, Exxon, they all came out of this one huge empire. So the legal way that you can build a monopoly where actually the laws on your side is a personal brand. You're not allowed to take somebody's likeness and make money without their express permission or sharing the money with them. So if you can build a real personal brand. That's the reason I went all in on personal brand in 09. Even before I read this book, Zero to One, I was like, okay, how do we escape competition? Now, there's different theories on how to escape competition. One way you escape competition is through doing really hard things because the average person will not follow if you do something hard. I was talking to an entrepreneur yesterday and he's doing like 100 million. And he's like, okay, how can I crack this code? And he's like, what's the easy way to crack the code? I said, well, if it's easy, it won't make a lot of money in the long run. So number one, you escape by being excited about something that's super hard. Now the best is if it's super hard for the whole world, but super easy for you. That's a great way to escape competition if you're good at public speaking. There's a great one. The average human's biggest two fears are cancer Public speaking, which is mind blowing to me because for me, public speaking always came easy. So for me, that's why I went into the personal brand space, because I can escape competition through doing something that's easy for me but hard for most people. That, that's the dream. Sometimes you got to find something that's hard for others and hard for you. If you really want to make 10 billion net worth, you're gonna have to do something that's hard for everybody else and hard for you. But if you just want to make 10 million to a billion net worth, you can find things that are hard for others but easy for you. Number two way you escape competition is literally by forming a monopoly, which kind of is illegal, but you already see monopolies forming. Like Google is essentially a monopoly. How many people here go, oh, let me Bing it like nobody bings, right? How many people say, oh, let me lift. Grab a Lyft. Most people say, let's Uber. Uber's become a verb. So effectively, I think Uber controls 70% of the rideshare market. So if you, the thing about creating a legal monopoly, a, you're always under the potential chance the US government attacks you or European Union, wherever you are. All western countries have antitrust laws. But number two, it takes a lot of capital. So Uber was crazy capitalized. These are companies that had, you know, a bill, multiple billions every round. Rage. Chat TBT is trying to escape competition by doing really hard things and taking a lot of capital. Now they have competition, but not really the average person. When they think of AI, they don't think of Claude. They don't think of, you know, perplexity. They, they think of ChatGPT. So that's the third thing you can do to escape competition, is get in early and make a name for yourself. It just, that won't last forever. But the fourth one is the one I said at the beginning. Build a personal brand. Because the one legal thing that's hard for other people to do but easy for you to be yourself, you don't need a lot of capital for it, right? And you know, it's one of those ones you don't have to worry about. I mean, you are a first mover on yourself. So if you're not building your personal brand, like I'll put in the show notes tylerpuzzle.com podcast calendar. And if you're doing seven or eight figures already and you want me and my team to grow your personal brand and monetize it, that's, you know, ChatGPT says I'm number one or number two in history @ knowing how to do that, especially in the business space. So all you entrepreneurs, you want to learn how to build a legal monopoly that escapes competition, has huge profit margins. One of my students, I won't say who because you all know him, dude, he has 80% of profit margins. So if he does 40 million a year, he keeps 30 of it. That's rare. Why? Complete personal brand built around going viral. So you know, he's one of my students, he's like you. He started with me when he was a teenager and now he's just stacking tens of millions of cash every year. So that was, that was a classic example. Mr. Beast is the only billionaire under 30 who's self made. He's also somebody, Mr. Beast who's been through my programs when he was, you know, teenager and he escaped competition by just being Mr. Beast. By number two, he did all of them. Number number two, he built a competitive moat by raising capital to do his. Some of his YouTube videos cost three to six million dollars to produce. So that, that's. And he does hard things, that's easy for him. He understands the YouTube algorithm, thumbnails, how to write out a really compelling viral video. Most people, that's super hard. But if you look now and I told it's funny, I had a call with a guy in 2015, I said man, we should build a VC fund. Just get creators influencers to like sell us a part of their business. And they were like, no, you want to have faceless companies, you want to have corporations, they make all the money. I was like, yeah, that's 2015. You got to be thinking ahead for the future. What made you money? Like Warren Buffett said, what made him money in 1979 didn't work in 1980. What made him money in 1980 didn't work in 1981. He had to become a learning adapting machine. So I wish that it's a guy I know well. I feel like calling him and be like, you still think it's not a good idea to invest in influencers influencer based businesses. Logan Paul, he has, you know his drink company prime, he's also one of my students. He was in my SMMA program and learned social media marketing although he was already good at it. But he was, he was one of my first students when I launch smma. That's a billion valuation company he owns a piece of and just use his face. And the one thing no one else can be is Logan Paul. I think Jake Paul's made 3,400 million dollars not only in social media, but boxing. That's all boxing's personal brand. So personal brand. The only two things that'll make money long term is AI brands and personal brands. So if you're in a business, you've got to ask yourself right now if you're making money and you're not an AI tech company. Okay, I try to check both boxes. I have AI tech company.