Every little thing helps, especially during a downturn. Jason gives perspective on current issues in the US including the pandemic and the protests. Learn in a time like this. Jason brings entrepreneur coach, Ryan Moran to discuss his latest book 12 Months to $1 Million. He shares tactics laid out in the book and on his success.
Jason Hartman 0:53
Welcome to Episode 1473 1473. Thank you for Joining me today, we are going to have my friend Ryan Moran here today. And this was a really a great interview, lots of great tips on his new book about starting and succeeding in a business. Yes, a business. And you know, as I have said, for 16 years, as I’ve told you, if you don’t have a side hustle, you need one. And maybe that side hustle is just income property investing. Maybe it’s an actual business. Maybe you are already an entrepreneur. Either way, you will enjoy this interview. It was a long discussion. So we are going to play it for you in two, maybe even three parts, but probably just two parts, because we’ve got a whole lot more in the cam that we’ve got to get out to you. And you know what, folks? I think we got to go back to seven days a week. Some of you actually complained about that. Yeah, you keep telling me how You love the show. And thank you for that, by the way. And by the way, thank you, for all of you who write reviews. We don’t always get to acknowledge them on the show every time. But I do read every single one of them. Some of them are, well, quite entertaining, I must say,
Jason Hartman 2:18
quite entertaining, some are from competitors who are green with envy. And yes, there are more than enough competitors out there who are green with envy and want to see the successful people follow You evil people. There are places for you in the afterlife and well hey, I’m not going to say any more about that. But today we do have a great show. But you know, first I would be completely remiss if I did not acknowledge and discuss what is going on in the country and really spreading around the world. It is a tough time for many people, folks, and what we are going through now illustrates the digital divide that I have long talked about. And the digital divide is really the difference between those who are in the information world and those who are not in the information world. Now, fortunately, we have seen a resurgence and one of the big proponents of this resurgence is love them or hate them. Donald Trump. Donald Trump has been a champion of the vocational worker, the blue collar worker, and frankly, even though it doesn’t sound like it, a lot of times the African American community, Trump has done really good stuff for many people that have been ignored for decades in this country. And whenever I talk about the country, you know, look, we have listeners in 189 countries worldwide. I like to try and have a very global view myself. I’ve been into 87 countries, some of the many times over I was not born in the US. I was born in Europe, and the vibe of the US president. And the US market spreads around the world. And other countries have had influence too, but mostly the US because it is the biggest economy and it gets the most media attention. And it’s the biggest brand and it’s, you know, it’s the leader of the g7 nations, and all of that, I don’t need to go into that more detail. And so whatever is going on in the US spreads. And obviously, you know, we have a president that is brash and offends a lot of people and maybe that’s by design. Maybe it’s just clumsy and ineptitude. Frankly, I don’t know. And I don’t think anybody knows. Except maybe Trump, maybe it’s brilliant. Maybe it’s brilliant media manipulation. And there’s certainly an argument for that because whenever he says these outlandish things, you know, hate the media just drops what it’s doing. And they start talking about his last outlandish tweet. But look, what is going on in the world is very disconcerting in many cases, you know, I’m talking about COVID-19. I’m talking about police brutality. I’m talking about the the class of people who are closest to the money that always get enriched by anything. Basically, any situation. They’re closest to the money printers. So they get enriched and these are the disgusting scumbag banksters. They’re Goldman Sachs. They’re the big banks. They’re the jamie diamond crowd. The central bankers, the other bankers, the non central bankers, the investment banks on Wall Street. They are the class of people that just has control their Bill Gates, Bill Gates, look at how he’s out talking his book, with his questionable opinions on On the virus, look at you got to just realize at the end of the day, everyone is talking their own agenda. And it’s a sad state of affairs, but it’s just the way it is. So you got to read between the lines. And we try to help you do that on this show. And we’ll continue to do it and look at the police brutality problem. And the interesting thing about it is, of course, it’s absolutely tragic. It’s disgusting. I remember in the 90s with the Rodney King beating, I was so livid, I was just livid about the fact that those police officers got off. But I don’t think that’s going to happen anymore. It’s not going to happen this time. There’s just way too much outrage. And even if you don’t think this matters to you, it does matter to you. Because when anybody’s rights are affected when anybody is bullied when anybody is the victim of a tyrant. You Or someone you care about could be next. Nobody is safe from this kind of stuff. And that’s why we all have to be forever vigilant about it. But does it mean that we should follow the idiotic, stupid, disgusting, pitiful maxine waters in her mantra that she started during the Rodney King days in the 90s? no justice, no peace? No, that’s barbaric. That’s pathetic. That’s disgusting. And Maxine Waters should be ashamed of herself. I cannot believe that people like her actually get to hold office and have influence. That’s just ridiculous in by any measure. It’s uncivilized. Absolutely. You got to let the courts and the system do its thing. vigilante justice does not work. And it is what it is. Anyway. The thing about this stuff though, is that just like COVID, just like anything in life, just like the Great Recession 1020 years ago, just like the Great Depression, back in the 30s, you got to realize that when you’re in it, it seems like such a bigger deal than it really is. And these protests, these riots, they don’t last long, they always tire out quickly. And like everything in life, this too will pass. That said, I want to play a clip from a great movie, a great 1976 movie. You’ve probably watched this movie if you haven’t, you need to. It’s called network. It’s a fantastic movie. And the main character has the same it’s called mad as hell. And I’ll just play it for you because we’ve talked a lot about the 70s and the economic devastation of the 70s. And what an absolute disaster many things in that decade where we talked about supply and demand shock We talked about how the 70s really affected life for So, so many years. And this is emblematic of that, because, and I’ll stop this clip at some points. And by the way, this is just right off YouTube. And by the way, thank you so many of you who have subscribed to my YouTube channel and made comments and liked the videos on my YouTube channel, we’re really trying to ramp that up. You know, we didn’t really pay much attention to YouTube for many years, and we were really focused on the podcast, but I’m just glad to see that so many of you like the channel and we appreciate your engagement there and your your comments and questions, and we try to answer all of them, either there or on the show. So here’s this clip, just picture 1976 that was a Bicentennial year, the 200 year anniversary of the United States. I remember how things were back then. And you know, this is a lot of the 1970s misery index. The inflation, the unemployment rate, which ultimately mean stag, nation or really stagflation, okay, is reflected in this short, three minute and 49 second clip. So let’s listen in. And by the way, this is the main character, a network news anchor, and how he just blows up during his new segment. He looks completely disheveled. He just kind of freaks out in the new segment and tells the public to essentially rise up. And it’s just very interesting. So let’s listen.
I don’t have to tell you things are bad. Everybody knows things are bad. It’s a depression. Everybody’s out of work or scared of losing their job. The dollar buys a nickels worth. Banks are going bust. shopkeepers keep a gun
Jason Hartman 10:48
under the counter. The dollar buys the nickels worth inflation inflation.
pumps are running wild in the street. There’s nobody anywhere seems to know what to do and there’s no end to it. We know the air is unfit to breathe and our food is unfit to eat. We sick watching our TVs while some local news Jester tells us that today we had 15 homicides and 63 violent crimes as if that’s the way it’s supposed to be. We know things are bad worse than bad. They’re crazy. It’s like everything everywhere is going crazy. So we don’t go out anymore. We sit in the house and slowly the world we’re living in is getting smaller. And all we say is please at least leave us alone in our living rooms. Let me have my toaster and my TV and my steel belted radios and I won’t say anything, just leave us alone. Well, I’m not gonna leave you alone. I want you to get mad. I don’t want you to protest. I don’t want you to write I don’t want you to write to your congressman because I wouldn’t know what to tell you the right. I don’t know what to do about the depression and the inflation and the Russians and the crime in the street. All I know is that first you got to get mad. You’ve got to say I’m a human being. God dammit. My life has value So, I want you to get up now, I want all of you to get up out of your chairs. I want you to get up right now and go to the window, open it, and stick your head out and yell it out. And I’m not gonna take this anymore. Want you to get up right now? Go to Windows, open them and stick your head out and yell, I’m as mad as hell. Take this anymore.
Take this anymore, then we’ll figure out what to do about the depression and the inflation and the oil crisis. But who are
Jason Hartman 12:51
you talking to? So what you’re hearing is you’re hearing the news anchor, just have this meltdown on air and then What you’re hearing also in the other talking is you’re hearing the people producing the news program. And the producer is saying, you know, how many stations is this going out to keep covering it, he gets up from the desk and walks to the rest of the set out of the set. The cameras are following him. And doesn’t this really just give you some perspective? If you think things are so bad now, most of you listening were alive in the 70s. And the 70s was this sucky, terrible decade economically. Now some great music came out of the 70s I think the singer songwriter music of the 70s is the best music possibly ever produced. Of course, there’s great classical music, talk about Mozart, Beethoven, etc, etc. That’s incredible. And then there’s some great modern music Vici Zed, hey, see how hip and cool I am for an old guy. Anyway, you know, there’s a lot of it but perspective, right? Look at the perspective. Look at how people thought about 1976. And of course, not everybody was thinking that, but certainly some people were. They were as mad as hell and they weren’t going to take it anymore. Are they yelling? yelling at Atlanta, Teddy.
Jason Hartman 14:26
They’re yelling in Baton Rouge. So people are yelling out of the windows in Atlanta in Baton Rouge all over. That’s what the network affiliates are reporting
to stick your head on and
just get up from your chairs right now.
Stick your head on.
Jason Hartman 15:05
Out the window
Jason Hartman 15:24
there’s a storm going on as all the people are yelling out of the window if you’re wondering what that noise is
Jason Hartman 16:00
Well, you get the idea. Does that help with some perspective? Does that show you that maybe times aren’t as bad as we sometimes tend to think they are. You see how people felt in 1976 perspective, that’s what you always have to have in the midst of all this going on in the world today. There are so many opportunities, and so many people are growing their investment portfolio. So many people are growing their businesses, new businesses are being born, new opportunities are being born. There’s that old saying, and I don’t even know if it’s an old saying maybe it’s my saying, I’m not sure. But hey, maybe it’s my old saying I’m old enough to have an old saying are 9am I old enough to have an old saying? Yeah, I think so. recessions create millionaires. depressions create billionaires. In other words, like the Chinese symbol for opportunity, and which is the same as the symbol for crisis. crisis is an opportunity riding the dangerous wind. So the idea of that former statement is that the deeper the problem, if it’s a recession, well, that’s the opportunity to become a millionaire just metaphorically, not saying any of us are going to become billionaires out of this, but hey, maybe someone who knows. But if it’s deeper, if it’s worse, if it’s a depression, if it’s longer, then it creates billionaires and all those opportunities are there. For the people that don’t get too distracted by what’s happening at the moment. They keep their eye on the ball. Remember my rules, you got to keep good counsel. You got to keep your eye on the ball. Don’t get distracted by all this craziness. This stuff blows over a lot sooner than we all think it does. All right. Let’s get to Ryan Moran. Let’s talk about some positive stuff. Let’s talk about opportunity. And the opportunities are great right now. If you need us, we are here to guide you. Reach out Jason Hartman calm or call us in the US, of course, toll free at one 800 Hartman or just Jason Hartman calm around the world. And here is Ryan Moran. It’s my pleasure to welcome my good friend Ryan, Daniel Moran. He is out with a new book 12 months to $1 million, how to pick a winning product, build a real business and become a seven figure entrepreneur. The book is a small part of his resume. He’s got a huge resume. He holds great conferences. He’s the founder of capitalism, calm and formerly freedom Fastlane. You know, he’s bought and sold several businesses. He’s just done incredible things at a very young age. That’s a pleasure to have him back on the show. Ryan, welcome. How you doing?
Ryan Moran 19:03
Thanks, Jason. And I think we should clarify a lot of podcasters will say, bringing my good friend onto the show and you’ve met like twice, right? Yeah. You’ve literally you’ve literally slept in my home. Yeah. So we should we should say actually good friend.
Jason Hartman 19:18
Yes. I remember that convertible. So phi slept on. And, and that was, that was the weekend I came out and we went to dinner with Tim Ferriss. Yeah, we did. Yeah, we did. You know what was funny about that, Ryan? That was actually a four hour dinner.
Ryan Moran 19:38
You know, I tell the story of that dinner in the book. Oh, do you really feel good. So I tell the story. First of all, we should just highlight the fact that Jason won this dinner with somebody that I’d wanted to meet with for a long time he invites me Jason flies across country to have this dinner, and then he tells me where it is. And it’s in my condo building.
Ryan Moran 20:03
He flies across the country and all I had to do was hit ground floor. On the
Ryan Moran 20:07
elevator. Yeah. But what a baller Jason Hartman is such a baller. It’s just so cool. But I tell the story about how the what one thing that Tim said at that dinner that really had an impact on my life was he asked, I think we’re wrapping up dinner and I said, Tim, you know, there’s one thing I would really regret if I didn’t ask you. And he gave me permission. And I said, Tim, you’ve reached what a lot of people aspire to be in terms of level of success in terms of notoriety and influence and wealth. And so what I want to know is, Do you ever wonder if it’s all worth it? Uh huh. And he laughed, and he said, I remember I
Jason Hartman 20:44
don’t remember your hearing you asked that question. So yeah, what do you say?
Ryan Moran 20:47
Well, what he said was, I’ve discovered there’s a lot of things that are not worth pursuing. But the pursuit is worth it. always stuck with me that there’s a lot of things it’s like Ecclesiastes. meaningless meaningless. Everything is meaningless, right? Yet we create our own meaning with what we pursue.
Jason Hartman 21:04
Yeah, I’m surprised you pick Ecclesiastes, that is my favorite book in the Bible and you’re an agnostic or an atheist, I don’t know. But Ecclesiastes, he’s, I mean, King Solomon’s brilliant.
Ryan Moran 21:16
I’ll put Ecclesiastes a second on my favorite books. The Book of Esther is my favorite book. I named my daughter after the Book of Esther. Yeah. And you eat one day we should have maybe not I’m creating wealth podcast, but a spiritual conversation. I have a feeling we agree more than where we disagree. Oh,
Jason Hartman 21:32
yeah. And by the way, I’ll just speak to that for a moment. And then we’ll get to that point. I know that you were studying to be a pastor, you were going to be a religious leader. That was the goal. And then you changed your thing and became a capitalist,
Ryan Moran 21:46
religious leader of capitalists. Right.
Jason Hartman 21:48
Exactly, exactly. And, and capitalism is arguably the most successful religion ever. And I think one of the reasons is unlike religion is that capitalism’s very natural religions. You have to deny a lot of things. So it’s unnatural. And we can debate the merits of that for 16 days if you want, but let’s not go there. But But I think religion is very good for society. And here’s my concept for that, Ryan, is that I think if you if you look at like communist dictatorships, and I know you hate communism as much as I do, and socialism, you know, they always take God out of the equation because they want to make government the big deal government, it’s like, and I think if you make a society only accountable to government, that’s a disaster. The reason is, is that you can always get away with something when it comes to government, right? There’s a black market, you can hide from the cops, you can do whatever, but even if it’s not true, okay, even if it’s not true, if people believe there is this greater thing, this greater power, and they hold themselves to some sort of accountability to that Think that’s good for society? Go ahead.
Ryan Moran 23:03
Yeah. So we’re gonna go here. Okay. So you’ll be surprised at how little I disagree with what you said. But I interpret it just a little bit differently. So if we look at a concept like, like marriage, marriage is another institution, or government, institution, religious and institution, marriage is an institution, which are really ways that we instill things that we like, or things that we want to change into society. So religion has lots of great benefits. And I mean, they have physical benefits, but people who are plugged into community live longer.
Jason Hartman 23:40
Yeah, that community is a big part of religion. And by the way, I interviewed a famous atheist on my show, I can’t think of his name right now. But he’s written a zillion books on it. He’s, he’s a big deal. And he says, the one thing we don’t have is community. That’s where atheism Yes, totally blows it. Yeah,
Ryan Moran 23:56
yeah. So we can instill those things into so society through an institution like religion, or through government. And just we all think that a safety net, Jason, if you’re going through a hard time and you’re like, I need to sleep on your couch, I’m like, Come on over. Like, I’ll be your safety net, buddy. So we know that taking care of each other is a good thing. And so we instill it often through government programs, right? The downside of all institutions is once the thing that we have instilled is no longer necessary, we tend to hold on to them. That’s why it’s hard to rollback government. It is why it is difficult to scale down programs that we don’t like it’s difficult to change thoughts within a religion because they’re instilled in us. So it’s a double edged thing where we still what’s important, but then it makes it more difficult to adapt to what is new. And I think that is kind of our role as human beings to be pursuing what’s new, and then having conversations like this, to bring what we like into where we are now into society. Good. One last thing about religion and I love By the way, on the back cover of Ryan’s book, it says, you know, he has a little blurb about his bio. And then at the end it says he loves talking about politics and religion,
Ryan Moran 25:12
the two things that are considered off
Ryan Moran 25:14
limits to my favorite conversation. I love
Jason Hartman 25:17
it. I love it. That’s so funny. But the other thing I’ll say about religion is that a lot of people will say, Well, look at all those people in church, there are a bunch of hypocrites, right? You hear this all the time? Like, I know religious people that burn me in a business deal. And of course, that’s true. Right? The question they’re asking the wrong question, though. The question they should be asking is, how much worse would these people be if they didn’t have some concept of religion? They might be barbaric. They might be much more and we never know we’ll never know the answer because you might say opposite to which is we don’t Yeah, yeah. Just the last statement on that is, you know, I always talk about on my podcast, you Can’t hear the dogs that don’t bark. Right? The there’s a profound impact in what is unseen and what doesn’t happen. But nobody knows, like minimum wage Ryan and this one you’ll you’ll love, right? I’m sure you agree on this. Bernie Sanders will say well raise the minimum wage. And and Okay, so people that have jobs make a little more money, great. But then they never count all the people that never get a job or lost, they count maybe they lost their job, but they don’t never count who didn’t get a job because the government interfered in that transaction where two people wanted to, you know, someone wanted to employ them and another one at work. And the government says, No, you can’t do that. Sorry. You know,
Ryan Moran 26:40
yeah, that’s exactly right. And I would, I would say minimum wages and institution, just like all the other things that we’ve talked about, where you have something that you’re trying to force into society, because you see its benefits, and then you are unable to roll that away or to grow through that because you’ve instilled the bad pieces of it. Oh, Long with what you wanted to change for the positive. Absolutely. So
Jason Hartman 27:03
you were gonna say something else I think about religion, I just want to make my point about how much worse would they be? That’s all and then let’s just do
Ryan Moran 27:12
the interview. Sure. Just just that I think we tend to look for the evidence of what we already believe, which is like in your patient bias. Yeah. In your case, you’re saying religion is a pacifying, calming, uniting idea? How much worse would these people be? If they didn’t have it? Somebody else might say, religion is a divisive, old way of thinking and look at these people who are screwing these others in a business deal, and they’re Christians. And so I think we can find evidence for whatever it is that we believe. I think that religion can be a way of bringing beliefs that we want to continue voluntary believes that we want to continue and instilling them into society so that they last a long time, but there’s positives and benefits to that as well.
Jason Hartman 28:00
Yep, no question about it. No question about it. Okay, good stuff. So we I don’t think any of this is in the book, we just cover. But let’s talk about your book a little bit. I mean, you there’s so much to talk about with you, Ryan, because you’ve just done so much. It’s such a young age. It’s, it’s truly amazing. Maybe just to get a context, what motivates you? So give us a little bit of your background here. You know, you were going to be a pastor. You got out of seminary, I think you were in it right? You were actually I was Yeah.
Ryan Moran 28:30
Okay, for how long? Less than a year but I finished out the probe. I finished out the program at the institution as in I went to Indiana Wesleyan University, they had a degree that was seminary and a degree form. And so I opted out of the degree but I finished it Indiana Wesleyan University, which is actually where I discovered Austrian economics Okay, and and monetarist thinking. And so it completely changed my life because it made me fascinated in economics.
Jason Hartman 28:58
You went from religion. Religion to the religion of capitalism. And capitalism is the most successful religion ever. You’ve all know Harare and his book Sapiens talks about that. That’s a brilliant book, by the way, highly recommended. And the sequel to it homo Deus, which is also excellent. Many of you have heard of heard of him. He’s a very big author. So what got you interested? I mean, you really started your business career as an Amazon seller, is that correct?
Ryan Moran 29:25
I started my career when I was 18 years old from my college dorm room as an affiliate marketer. I learned how to get websites to show up high in Google, get free traffic and sell things on those websites. And I build email lists and monetize those email lists. And it became an internet marketer, kind of by happenstance, because I was in school to be a pastor thinking I was gonna make 30 or $40,000 a year. I wanted, I was always entrepreneurial. So I was always looking for the new way. That always motivated us as kids just find the next thing. And what I discovered a few years in was that My internet marketing skills when applied to what I would consider a real business, having physical product brands was a lot more effective. So rather than just trying to make this thing happen on the side, if I took my skill set and applied it to a real business, it was a lot more effective. Amazon was an emerging platform at the time. And so I started businesses that were selling products on Amazon. I’m often labeled as an Amazon seller. I just think of myself as an entrepreneur and a businessman who looks at whatever the modern trend or the modern opportunity is. And right now, that is e commerce. And a few years ago, it was just Amazon because Amazon was this wide open West that was growing by leaps and bounds and it still is growing by leaps and bounds but now all of e commerce has changed with it. So was the first business selling yoga mats on Amazon after after the internet and affiliate marketing kind of thing and getting sites to rank. Then it was Amazon in was that yoga mats. You know, Funny you should ask. I should clarify I made my first million before ever selling on Amazon. And then I took those skills, apply them to Amazon. And I decided it would be a good idea to start three businesses at once. Jason, that’s not a good idea. So I start with three different partners, by the way. So I started a yoga mats business, a sports nutrition company and the supplement business. All the same. That’s right. It was for I forgot about the sports nutrition and supplements. Yeah. Okay, so so the yoga mat company I built and sold within a year, the supplement company was a disaster failure, and the sports nutrition company. I started with $600 to get to about $10 million a year and sold that for an eight figure exit. Wow. So I had I kind of had a strikeout, a base hit and a home run,
Jason Hartman 31:45
what distinguish what’s the difference between supplements and sports nutrition?
Ryan Moran 31:49
You know, that’s a great question who it’s for. That’s the biggest thing and one of the things I hammer home over and over and over in a book in the book, is that your business is determined by mountains. What you sell, but who you sell to, and, and it’s kind of like content marketing, like we could be having the same conversation. And if we were talking if it was a religious podcast might not be as popular. But But since we’re talking to entrepreneurs and capitalists and people are interested in the direction of the world, we can have this nice conversation that covers a variety of topics. So who you target determines how successful businesses no matter it is what you’re selling. So I had a supplement company that sold generic fish oil and things that everybody takes which you don’t have a target market when you’re doing that, that business fail. We’re on the other side, I had a business that sold similar types of products like pre workouts and post workouts and testosterone boosters and branched chain amino acids, very specific to a sports and athletic market. And it was wildly successful. It really the only difference. You can make an argument. Yes, we sold different products, but the main thing that was different was who it was that we targeted.
Jason Hartman 32:59
That’s it Excellent. You know, Ryan, one of the things you said on your podcast A long time ago that really influenced me is that the game is about building an audience quickly and monetizing to that audience. And I love that. That is just a fantastic philosophy, if you want to call it that. Can you expand on that idea? A little bit?
Ryan Moran 33:20
Yeah. And I would say the audience is the primary asset that all businesses are doing at the time that we’re recording this. Joe Rogan just announced that he signed a nine figure deal with Spotify to bring his content over to the Spotify platform. And we all know that the reason Spotify paid 100 million dollars to Joe Rogan was not because of the sponsorship revenue, it was because of the audience that was being brought over. He just legitimize spod spod casts
Ryan Moran 33:51
that’s it. I love it.
Ryan Moran 33:54
It’s not a bad name. So Spotify just legitimize their podcast player because now Joe Rogan And is exclusive to them. Because he brought the audience over it had nothing to do with ad revenue had nothing to do with the profitability had everything to do with the scale of the audience. The audience was the asset. And all business is really customer acquisition and audience building. And when you are aligning with your audience to bring them closer to the goals that they have for themselves, that’s a business and that’s what we’re all actually here to do.
Jason Hartman 34:26
podcasting. Remember, folks, you heard it here first. Yeah. Joe Rogan 100 million dollar deal with Spotify to make his podcast exclusive on Spotify. And you know, what’s interesting about that, Ryan is we look at some of these giant deals that rush limbaugh did. I think that was years ago was 150 $8 million 10 year contract or something. And then howard stern did a giant contract like that, but now it’s a podcaster. Yes. So that is huge. It shows you the way the media landscape has changed so much, but Like you say, it’s all about an audience. It’s all about an audience. I wonder what the multiplier was on that deal. By the way, you know, you said it’s not about the sponsorship, it’s about the audience. But his sponsorship couldn’t have been, I don’t know, 20 million a year and he got to five times multiple has to be way bigger than that. Right? I have no
Ryan Moran 35:18
idea. I mean, the most expensive podcast rate I’ve ever heard was a $38,000 per show sponsorship, who’s out and so if Joseph is there, or around there, and he does maybe what three adds an episode, let’s just say it’s two. So he makes somewhere around $100,000 80 to $100,000 per episode, and he does what three a week. Okay, so 300 k a week. Yeah. So a million dollars a month, you
Ryan Moran 35:49
Ryan Moran 35:50
10 times return?
Jason Hartman 35:51
Yeah. Wow. That’s that’s truly amazing. That’s truly amazing. And it really shows you how, how the world is changing. Okay, so just he might
Ryan Moran 35:59
get lucky. keeps the ad revenue to we I mean, we don’t know there’s we don’t own the audience, own the revenue. But now just be giving up YouTube and Apple podcasts to be exclusive. It might just purely be a licensing deal. But he gets to keep all the ad revenue you imagine. That is insane.
Jason Hartman 36:17
It’s incredible. And he got Elan musk to smoke a joint on a show that had the ratings went nuts for a bad episode. Yeah. Yeah. Incredible. So build the audience monetize to the audience. And you go through that in the book so well, before actually before we get to that, you said ecommerce, much more than just Amazon. Yeah. Tell us about that.
Ryan Moran 36:40
Yeah, so I mean, Shopify is growing just as much as Amazon is now I would consider anyone who sponsors the Joe Rogan podcast and sends them over to their own website to be an e commerce. It’s online shopping and because of what we’ve seen happened in the last few months, online shopping has exploded. Even more to the point where even Walmart shoppers are now going online. So we are now seeing the laggard side of the adoption curve. Britain come into society, right, we now have all retail stores have to have an online presence if they even want to survive. So that’s e commerce is not a shopping on Amazon. It is all online shopping all online advertising, all online exposure. And that is just all commerce. At this point. At some point, we’ll drop the E. And we’ll just realize that they call commerce Yeah, right.
Jason Hartman 37:34
And you know, that’s interesting that you say will drop a V, because in the first calm, boom, 1999 2000 2001 ish, that range, they stopped using.com. Of course, they used it, it’s on their website, but they didn’t refer to themselves as e trade.com. They just said e trade. Of course, we have a website, duh. That’s an interesting point that will drop the eat. That’s good. This will be continued on the next episode. Thank you for listening and happy investing. Thank you so much for listening. Please be sure to subscribe so that you don’t miss any episodes. Be sure to check out the show’s specific website and our general website Hartman. Mediacom for appropriate disclaimers and Terms of Service. Remember that guest opinions are their own. And if you require specific legal or tax advice, or advice and any other specialized area, please consult an appropriate professional. And we also very much appreciate you reviewing the show. Please go to iTunes or Stitcher Radio or whatever platform you’re using and write a review for the show we would very much appreciate that. And be sure to make it official and subscribe so you do not miss any episodes. We look forward to seeing you on the next episode.