Canadian Prison Workout + Peter Thiel's Four Characteristics of a Monopoly

Nick Kozmin

Transcript

Alright, so today and this tutorial, we're going to be doing the Canadian prison workout. First thing you need utility gloves because you don't have a chin up bar. You're going to be using rocks. We're going to be doing a hundred. Pull-Ups a hundred pushups, a hundred squats and a hundred lunges. Alright, so let's get to work. Can you tell any gloves are very, very important without the utility gloves? If you want to mess up your hands,

No excuses. No, you gotta stay busy. No gym, no gym. You know, it's interesting, even though there's like, you know, here lock down the internet, entrepreneur has been dead. He's been used to this lifestyle. Like I've been used to this lifestyle for the past three years, eating like, you know, the same shit every day. I don't really go on anywhere. That's it. So I think the levels of productivity actually increase when you eliminate commute times. And mental, there's a lot of cognitive load when you're moving around and just the traditional work environment. So I think people are gonna understand the productivity gains. They're going to start experiencing productivity gains little bit while working from home,

Crushed another set, cut my buddies on wall street. There everyone's going around. So what's hot. What's you know what to invest in, blah, blah, blah, blah, what to do. And a lot of these speculative things, you're seeing that it's not panning out that Peter teal said the businesses, the businesses you want to be in the monopolies characteristics of monopoly one. So either of these network effects, that's the first one. So the value of the solution gets better with incrementally, with people who use it. So it's like a telephone telephone's useless with one person, but two people, it becomes more useful with 10 people cause even more useful and so on. So the more people who use it, the more valuable it gets. So that's a network effect. So businesses with intrinsic network effects affects who deliver the value via the internet. Those are obviously super, really valuable.

So what does the network effects? Twos, economies of scale? So economies of scale means the bigger you get the cheaper you're able to deliver your solution. The value like Amazon has incredible commies of scale. Walmart has incredible economies of scale. A lot of businesses I've get caught copies of scale, third motor characteristic of a of a monopoly branding, branding. I, I thought branding was kind of like network effects. Cause the more people who know about it, the stronger it gets. So it's kind of like a network effect thing. So economies of scale, network effects and branding, and then those are the modes and the fourth one's IP. So really sound IP like, you know, pharmaceutical company that has some new technology or some sort of really durable IP that can be not easily cloned or stolen. So those are the four things. A lot of these companies, they didn't have, you know, the ones that are just not doing well right now. They had no really reason. There's a lot of companies without defendable mumble like moat, but there are some who have network effects either, either never affects branding economies of scale or IP, and those ones are gonna probably stick around. So anyway, I'll do it.

So there's these it's, it's interesting to see when climate change and demand changes. We're able to see cause we work with a lot of these high horsepower clients. The rate at which they change with the market is incredible. The rate of which they build new mechanisms and new products is incredible. Within a matter of days or weeks, we had one client from peanut body. All of a sudden this lockdown thing became a thing. And he launched a workout from home program and just had to kill her launch. We had another client uses data backend to track this Corona virus thing. In a matter of weeks, he was able to launch a new product. So caught let's contrast that behavior to building a product for years and then going out to launch it, going out to do marketing, right? Those two things are worlds apart, one you're in the silo and you're working on a product.

And then all of a sudden you're going out to market, you know, maybe a year, two years later. And you might find that the market doesn't have demand for what you have in that two years that you spent building a product is actually wasted. Okay? So this is really well illustrated. When you see this, these high value, these high horsepower entrepreneurs within weeks, they have a new offer and they have a new product. They have a new mechanism, so they, at least they have presales. So yeah, it goes to show that the inter or independence of mechanism and marketing. So it's like someone who's really good at building mechanisms. They need to get the marketing right. In order to build something useful. Cause if the marketing and the messaging and the resonance is not right, they won't know what to build. So it's very, it's clear as day first you market and sell to get the feedback from the customer. What do these people want? What do these people actually want once, you know what they want, then you build it. Alright. So Jason and I are going to do a lunch walk. How many feet is that?

That's going to get the heart rate going. All right. You ready?

You ever see that Ronnie Coleman video. We're just doing the, he's doing the lunges and he's he has like this. I think he just has one 35 on his back and he's just lunging around. And he's like, everyone wants to do. Everyone wants to be a bodybuilder. No one wants to lift these heavy ass weights.

 

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