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I think this is Alcatoo. I can run fly over half my before my hands start shaking. I'm going to ask you a question. Now what is it?
I'm a cybernetic organism. Living tissue. I want metal, and those go like, Me to Paris. Hello boys and girls, ladies and germs.
This is Tim Ferris. Welcome to another episode of The Tim Ferris Show, where it is usually my job to sit down with world-class performers of all different types to tease out the habits, routines, favorite books, and so on that you can apply and test in your own life. This time we have a slightly different format, which is backed by popular request, and I am the guest. If you would like an interview, you can choose any other episode just about that I've put out, and you will find an interview.
Now this time around, we're revisiting a few things. Some of you know I tested a fan-supported model in 2019 where people could pay and avoid advertisements on the podcast, but I ended up returning to ads to sponsors by request. That is a long story, and you can read all about it at tim.blog slash podcast experiment. I recently sat down, metaphorically speaking, with the original support group for fun and live Q&A on YouTube.
And the recording you're going to hear is comprised of questions that were submitted in advance, as well as questions I took from the live chat. In this episode, I answer questions on marketing and product launches, premium pricing, user feedback, fasting routines, podcast advertising, my recent gardening adventures, tools for releasing tension in the iliacus, of all things, very specific, my current coffee and alcohol rules, adventures with the so-as, it's related to, I want to see quotes again earlier, advice for artisans or artists, animal communication experiments, or at least approaches, tools for handling adverse moments in life, and much more. We cover a lot of ground. I hope you enjoy it as much as I did, and thanks for listening.
All right guys, thanks for joining today. This is going to be another private live Q&A, and I will do my best to answer questions in two different forms. We will alternate between questions that were submitted ahead of time and questions in the live feed. And I'm going to start with some of the questions that were submitted beforehand, and the people can add questions to the chat, the more specific, the better, the broader they are, the harder it will be for me to answer.
If they're really long, I will probably also skip them, so try to keep things very concise. And let me just take a look at a few of the questions here that are marketing and PR slash launch focused, and it'll be fun for me to stretch these muscles since I haven't done anything specific to these topics in quite a long time. So here goes. The first question that I have in front of me is from John.
I'm going to keep last names out of it, but J.O. And if you're going to launch a new fast casual restaurant, how would you gather the crowd before building the restaurant, i.e. making sure people would come when it opens? Well, the theme that I think is going to recur in many of my answers is one of risk mitigation.
Perhaps I'm known by some or thought of by some as a risk taker because I do things like invest in early stage startups, which tends to go to zero, I would say, very high percentage, maybe 70% of my investments go to zero. But you have to keep in mind a number of other factors and this relates to poker and other games of skill that are blended with a high degree of chance. And part of that is say, bankroll, bet sizing, knowing your maximum downside compared to your maximum upside. So that's just a frame perspective that I would like to present as one I look through for evaluating almost any type of question like this, any type of opportunity, any type of risk.
So coming back to fast casual restaurant, what would I do? How would I gather the crowd before building the restaurant? I would look at low risk, capped downside ways of experimenting with this concept. So for instance, in Austin, Texas, where my home base is, you see many successful restaurants begin as food trucks.
Why? Because the build out, of course, is much less. The regulations surrounding food trucks in some respects, far less onerous than those of restaurants. And you could potentially prototype taking that type of approach.
Even lower cost approach could be having a pop up in another restaurant. And when I live in San Francisco, there are a number of restaurants that were later successful that began as pop ups. So say Thursday nights or probably an off night, so maybe a Monday or Tuesday night in a given retail location where they are effectively renting the infrastructure of a pre-existing restaurant. Now, I'll leave it to you and your lawyers to determine the legality of that.
But nonetheless, many successful restaurants I'm aware of in San Francisco began that way. And it was important to begin that way because they never got it right immediately out of the gate. So I think it would be a big mistake to just yellow all of your chips in at once and try this concept, hoping that the crowds will get there or assuming the crowds will congregate if you haven't really kicked the tires. So another option would be a pop up in another restaurant.
And there's a book it's out of date. It is out of print, probably called Gorilla Financing that may also give you some ideas for how to bootstrap in different capacities. I found that book very helpful when I was bootstrapping one of my first companies. But the point here is really to identify the risk factors and this relates to an exercise that I do at least once a quarter.
Many of you have heard of it called fear setting. That was the topic of my last head talk, which has I think 10 million views or so now. Identifying the risk factors and going down the list, risk by risk and trying to identify how you can either eliminate those or mitigate the likelihood of them occurring. So for instance, if you had a pop up and you wanted to try to draw some type of crowd and really your goal is iteration and improvement of your concept of your menu of the experience, you could partner potentially with say organizations or groups who would stand to benefit from a rev share.
So I'm making this up. I don't know exactly what Fast Casual refers to here. Let's say it's fast healthy. You could approach local crossfit gyms or gyms of some type and say, hey, for every person you send to this restaurant, I will give you what do you care?
You know, 100% of the profit. You don't have to give them 10%. You don't actually need to make a profit as long as you break even. So beyond covering costs, you could just say, I will give you all of the revenue that comes from any of your members you sent to this restaurant.
Because again, what you're trying to gather is feedback first and foremost, so that you can improve before you have more some cost and some type of food truck or retail location. All right, let me take one more here and then I'll jump in to the questions in the chat. And we'll see where it goes. Here we go.
Here's a question from Matt. What would be your approach if you wanted to raise awareness of a new productivity tool? It's genuinely different from any of the approaches taken so far and helps people apply the great advice they know, but don't follow. Easy to pick up and use just minutes a day.
There's free versions, but I have no list or platform to gain initial traction. Share to bloggers, podcasts, etc. in the space. Any advice, welcome and thanks for the council and company over the years.
So I have a few recommendations here. And the first is really observing people, ideally, not just asking people. And I'll just draw contrast here. If you think you have a great idea for a business, it could be a product based business or service based business and you ask your friends, would you buy this?
Would you pay X amount for such and such a thing? In most cases, we will have some friends, maybe most of our friends will say, yes, I would absolutely do that. However, their behavior changes a bit when you then put out your hand and say, fantastic, I'm taking pre orders. I'll give you a 20% discount.
Can I take that payment now? The point is asking for opinions and getting people to take action are two very, very different things. And likewise, observing people using a tool is very different from asking them how they might use a tool. So what I would suggest in this case is before you even think about launching, make sure you're solving a problem that people want solved.
If something has never been done before, I find this very important to put under scrutiny and really pay attention to. So one of my first steps might be paying 20 people to use it. That might sound funny. If they're free options available, why would I pay someone?
You're paying someone for their time and feedback. So this will sound very similar to my first answer. And you could pay 20 people to use it and observe exactly the flow through the product, exactly their feedback and encourage them to speak out loud. There are services that provide for this user testing.com would be one example.
I haven't used it personally, but I know startups who have maybe beyond your price range, but you can also take lower tech options or off shelf options. You could have people record themselves using something like Loom, which is tool I use a lot for screen capture for training employees and contractors feedback on various designs. So you could have them simply capture their experience on say laptop with something like Loom and then share those with you. And you could find these people to test your product on Craigslist or really just about anywhere.
Or you could do this in person. And I know a number of well-known CEOs who began their companies that now have 1000, 2000, 5000 employees by recording user testing sessions in person with video. So you could simply have them in front of you at their laptop and encourage them to speak out loud. And you have an iPhone or something and you're simply recording the screen as they walk through it so that you can correlate things properly.
But I would say begin with more intelligence gathering. That's where I would start. And then in terms of how to get the word out, sending free software to bloggers, podcasts that are in the space can't hurt, but you're going to need to have a good pitch. And I get sent or I should say people attend to send me 1000s of different pitches per day, literally 1000s.
So the vast majority I simply deflect because I don't have the band with nor does my team have the bandwidth to even digest or read these pitches. So I would think of other approaches. The way that I have tackled this with each book launch as an example is looking for the neglected but powerful channel, and then also the nascent up and coming channel that is ramping and influence. And for the first book for our work week, that was bloggers, for instance, most people are like blogs with a hell of a blog in 2005.
But at the time I knew that they were pulling more weight for books sales in some respects than the darlings of network television and syndicated radio at the time. So I paid a lot of attention to that for for our chef. It was podcast this was in 2012, after which I launched my own podcast 2014. So I would also look at the landscape of tools and another question I would ask is which of these tools or platforms are you actually going to engage in for the long term?
You don't have to decide that upfront. But where do your natural skills and enthusiasm overlap such that you will have staying power? If you're not going to have staying power, chances are beyond a flash in the pan, it's not going to be helpful. You can still use one time only PR approaches, much like I really targeted dig.com, dij.com, dij.com founded by my friend Kevin Rose way back in the day to try to get on the homepage for launching the four-hour body because I understood the power of dig at that time for acting as a front page shopping list.
It tastes like making service of sorts, much like landing at the top of hacker news or something like that today. So those are a few thoughts and I will come back to some related themes in the next question and then I'm going to go to some in the live Q&A. So here's the third one. This is from Josh and I'm just going down in order that I have them in front of me.
This is a question related to advising tech companies. When you're advising tech companies, what were your most successful marketing campaign slash contribution to the companies? Any notable misses you're willing to share? For those who have not seen the range of companies that have worked with, you can go to angel.co.com.
You can see quite a handful there. In terms of most successful marketing campaigns slash contributions, contributions I'm going to focus on because oftentimes where I have aimed to help has been unrelated to anything immediately public facing. So for instance, for TaskRabbit, way in the early days, I helped Leah raise her first round of financing when the company was actually completely named differently based, I believe just in Cambridge or in the Boston area and we met in the Bay Area. So I helped her to syndicate her financing.
So I introduced her to lead investors and ended up helping her raise money. And then much later that company was sold to IKEA. In other cases, it could be related to helping companies apply needed leverage or user pressure for say regulatory purposes. And I was very active in this capacity with Uber, particularly with some precedent-scenting examples where situations were very, very high stakes in places like Washington DC.
So with my platform and via other types of back-channel work, that's a separate category of help that I sometimes provide. In terms of marketing, I think the most notable example is probably, and there are many, many, many examples, but the most notable, well-known example is probably the Build a Business competition that I helped to design with Toby and Harley of Shopify. And if you want to read more about that, there's a fair amount out there. There is a piece in Fortune Magazine called the Invisible Selling Machine about Shopify.
And this is a huge piece in the magazine some time ago. And it goes into quite a bit of detail about my involvement in the Build a Business competition and then overall what that looked like. That was very, very, very high ROI, high leverage for Shopify. And if you don't have a Fortune subscription, you can go to the web archive, I think it's just web.archive.org, otherwise known as the Wayback Machine, and you can grab a snapshot and take a look at that article.
All right, let's hop into the live feed and see what we got here. All right, we got a lot of questions. I'm going to do my best to get to some of them. I've got a lot of good questions.
All right, I'll take a self-interested one first. This is from Jo Chen. What is your biggest project slash challenge at the moment? And how can we support you?
I do have a very absurd and I think hilarious and fun art project coming out in the not too distant future. So keep an eye out for that. At the very least, just taking a break to laugh at the whole thing when it comes out. That's how you could support.
But I'll keep moving here. All right, this one is from Scott. What's a takeaway or less than you wish more of us listeners paid attention to slash followed through with? I would say in this day and age, probably the low information diet as described in the four hour work week.
And here's my phone here. I have not had any social apps on this phone in two years. And that's not because I broadcast that for sitting on my moral high horse. It's because I understand that it is playing a dangerous game to assume that you can use willpower and self control.
At the very least, it is exhausting. And you can save your mental calories for something more important to have this type of addictive technology embedded into your phone with notifications that you're subject to 24 seven through which algorithms are being wielded against you that have billions of dollars in teams of data scientists and to UI experts behind them. I think it's unnecessarily challenging to subject yourself to that and to expect to be able to overtake that and single task effectively. And some people say, well, you just need, I have better self control.
You can just use self control. That may be true, but I could also have junk food littered all over my house. And I can make the same argument. I can say, well, if I have enough self control, I won't eat the junk food, but it's a hell of a lot easier just to remove all the junk food from your house.
So I do think the low information diet supplies not just a social media, but certainly any type of push news, which could just be reactively picking up the newspaper every day when you go to grab a cup of coffee at a gas station or something like that. It doesn't need to be digital, but the low information diet, I think, is very much underestimated in its power. And if you can single task for a few hours a day without any interruption, which is why I use do not disturb and so on on my laptop as well as frequently as I do. And my phone is almost always on airplane mode.
You will have a huge competitive advantage over the majority of people who are, let's just call them knowledge workers, anyone who works on a computer. If you have the ability to single task for, let's just call it three hours a day in a single block of time, you have an unbelievable competitive advantage. So I would say the low information diet. All right.
Let's see what else we have here. Okay, this is a question from Rendolin. What are your thoughts on sub stack is more of a pull away to get information? Yeah, I think that opting in to highly curated sources of information that are either relevant to you in the near term or actionable to you in the near term is far superior to being lost in the waves and shop of online assault that is uncontrolled for talking about information.
So I think newsletters certainly are far superior. You can still use them to procrastinate in the same way that you can use reading books as a socially acceptable way to procrastinate. So just be aware of that. And as Kathy Sierra was phrased it to me, focus on just in time information, not just in case information.
If you think you might need to act on, say, the contents of a book six to 12 months from now, it doesn't really do you a lot of good to read it now is my general feeling. I would read it closer to the point at which you need to actually implement it. But I would say that something like sub stack or newsletters in general, I think, are superior in so much as they force you to make decisions about high priority, low priority information ahead of time so that you're not making all those decisions on the fly because look, we're all simple creatures and the algorithms will beat you, right? Whether it's just showing like a picture of Kim Kardashian's ass or some celebrity or like, who the hell knows, it's going to pull you off task.
I don't care who you are. So just keep the junk food out of your house, metaphorically speaking. Let's see, comment on Cal Newport and Great Books on deep, deep learning, deep work. I agree with that.
I love question. One of the most enjoyable parts of your show is listening to your personal journey and your interviewees journeys of transcendence, any recent spiritual shifts that you would not mind sharing. I don't mind sharing. I was actually recently in the mountains of New Mexico and experienced some of the most profound and extreme time dilation I have ever felt, certainly in a sober state with a friend of mine.
And so we were hiking at altitude on and off for several days. And by say day three, thinking back to the morning of even day two or day one felt like looking back to three weeks or four weeks prior. So being in nature, I think partially contributing to that was the fact that we changed locations so many times and that the topography of the land changed so many times. So it could as well have been four or five different countries we visited, given how different the landscapes were in the wildlife and so on.
But that time dilation, I think highlights something for me at least, which is there are different ways to extend or better set, I think expand life to live in an expansive state more often. And many of the let's just call them post economic extremely wealthy, successful in financial terms, founders and CEOs and so on, I know want to extend health span, which I think is a very worthwhile objective looking at science and technology for extending healthy years. However, you can live a long time, but almost never be present. I'm not saying that's true for these people, but I know people who live a long time, but they're so preoccupied about the past or the future or the news or the politician on TV or whatever, that they have a lot of time contraction time passes very quickly for them.
So what if you could design a life and pre schedule experiences such that you have the type of time dilation I'm talking about where let's just say even twice a year, you have two trips each week long and each of those one week trips actually feels like three months. Well, have you then in that case effectively added let's just say each one feels like three months have you added six months to each year by doing that in terms of your experiential lifespan? If so, that's very interesting. So now you're you're living let's just call it 50% longer in your remaining years.
So does that have the net net positive or even a greater benefit than simply extending your biological lifespan by that period of time? I don't know. I do think that's a I don't think I know that's a question that's been on my mind and we can certainly pursue both. But one is available here now and the others are more so a scientific roadmap with possibilities.
But I think this type of time dilation through very deliberately designed experience and immersion is very seductive and rewarding. All right. So I think it's kale. It might be Kale.
I'm not by college. I don't have to pronounce it. I love your work time caught up with Derek Sivers and he's the only couple of weekends ago told me he missed you. Well, I missed Derek too.
He's a great great guy and he's been on the podcast several times. So if people haven't heard Derek Sivers on the podcast, they should and I do need to catch up with him. So let me come back to some of the questions that were pre-submitted. I'll answer a handful of those and I'll come back to questions in the in the chat.
So feel free to drop them in and I will continue to answer them. So let me get back to some of these pre-submitted questions. Here we go. This is from Ben.
We have invented a way of patent pending to add a second story to a house without the owners moving out. This product and process is revolutionary for so many people. However, we keep going back and forth about whether to create a franchise model or just to sell the proprietary system that allows you to do it. The catch is that it definitely requires training to use it properly.
Let me get your feedback about how you would launch it. Very grateful for you and the value you have brought to my life. Well, thank you, Ben. Here are my first thoughts.
So construction, adding stories, et cetera, does not sound at least immediately to me as a liability free endeavor. So I assume there are some risks involved, as you mentioned and I think kind of implied. It definitely requires training to use it properly and using it properly seems important. So looking at this again through the lens of minimizing or capping your downside risk, I would say a lot of folks think about business risk in terms of profit and loss.
How much does it cost me to make X? How much can I sell X for? What is my margin? Can I cover my various costs, maybe employees, et cetera?
But there are other factors that are often neglected. So in this particular case, there are questions around legal cost and legal liability. So I know that developing and rolling out a franchise properly can be very capital intensive if you're the franchise or and I wouldn't underestimate that. So step number one, I think in evaluating a number of these would be running some models and putting together just basic mathematics based on conversations with competent legal counsel.
And there are people who specialize, of course, in both of these. There is also a great book by Stephen Key called One Simple Idea, Turning Your Dreams Into A License in Goldmine. While letting others do the work, that's a great step title. I didn't realize that was a step title.
But One Simple Idea by Stephen Key, he is an exceptionally successful inventor who generally does not venture, meaning he doesn't generally manufacture and distribute and sell products himself. He's coming up with ideas, often with very inexpensive prototyping, and then licensing those ideas to other companies in most cases. So that book, I think, is worth a read, not because it is immediately comparable since he's mostly operating in the world of toys. But I do think it will raise questions that are valuable for you.
Another one to look at is Built to Sell. This is a book by John Warlow. So if you're ever considering the possibility of being able to sell this company, and that, I think, is worth looking at, even if you've never considered that possibility, because it will help you to identify where you, as a proprietor, as a business owner, could end up being a bottleneck, whether it's for scaling the company, or ultimately for not just scaling up selling the company. So take a look at that.
And on the legal cost and then liability side, I would just say, one idea that immediately comes to mind, and this is not legal advice, please speak to your properly vetted attorney for this. But potentially, there may be the option of partnering with a larger company who can run pilot studies or experiments in implementing this technology. And you could have a licensing fee, you could have some other type of arrangement, they could take a potential equity stake in the company, although that seems potentially premature at this point. And the reason I bring that up is if they were willing to test this technology, you could, and speak to your lawyer, but you could potentially be added as an additional insured, so named as an additional insured on their insurance policies.
It may be relevant to have you added to their errors and omissions policy, but these are ways of being covered by their insurance policies and therefore the premiums that they pay, which in the early stages, if you're bootstrapping, could be non-trivial. So those are just a couple of things that come to mind in terms of how to launch it. One of the benefits, again, of possibly partnering with a larger company is they assume the financial risk, a lot of the legal risk of implementing this, and you can see if it actually catches, do people want this? Can this company sell it?
Can this company implement it without assuming all those risks yourself? All right, let's hop back to the live feed and see what we got here. All right. Okay.
A couple of people asking about the O2 breathing device that Boss Rooten and I had talked about. Yes, I have been using it and I've actually found it tremendously helpful. And I don't think that's a purely placebo effect. I use the O2 trainer to prepare for my extensive hiking at Altitude New Mexico, and I found it to be very, very helpful and easy to use and incredibly soreness inducing.
So when you hear Boss say with the back breathing, as an example, don't start with 30 repetitions, start with 15, take him at his word. If you do more than that, you'll feel like someone hit you with a pickaxe up and down all of your muscles around your rib gauge and mid back the next day or two or three. So it is then seemingly very effective for stressing and applying workout to your inspiratory muscles. So I for one plan on continuing to use that device.
Just a quick thanks to one of our sponsors and we'll be right back to the show. This episode is brought to you by Wealth Front. There is a lot happening in the US and global economies right now. Of course, that is a severe understatement.
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I hope I'm getting your name. Correct. Would you please share any current recommendations that provide hope or encouragement to a caregiver amid a chronic medical situation? Thank you so very much for sharing your experience.
So first, I'm very sorry that you were in that situation or somebody you know is in that situation. And the only advice I can really think of offhand is I guess it's twofold. The first is an interview I did with Dr. B.J.
Miller quite a few years ago who is a hospice care physician, also a triple amputee who has helped thousands of people to transition. So that conversation, which is on some levels, deeply philosophical, I still act on and revisit a lot from that conversation. I personally find a lot of it incredibly actionable and impactful. So I would suggest potentially giving a listen to that.
And secondly, I would recommend a book that has been recommended to me several times, including my friends who have lost parents unexpectedly. And that is On Grief and Grieving. And I'll find the author right now. Okay, On Grief and Grieving by David Kessler and Elizabeth Coopler Ross.
And all of the people who recommended this book to me have said they wished they had read it prior to anyone passing away. Then in fact, it also acts as fantastic preparation and consolation if you may be on the verge of losing someone. And we're all on the verge of losing someone in the grand scheme of things in the grand scheme of life. So that would be a second recommendation and apologies if those aren't appropriate.
But given the context I have, those are the best I can come up with. Alright, let me see if I can pull up a few more here. So there's a question. This is a question from Kerry.
Can you speak at all about any current information you or any other previous guests have on ketamine and bladder damage? So for those who have not heard it, I would suggest listening to my recent episode with Dr. John Crystal, who's chairman of the psychiatry department at Yale, an incredible researcher also in his own right, who along with other colleagues pioneered research that identified the antidepressant effects of ketamine in humans speaking, in this case of intravenous administration. But in that episode, we didn't specifically discuss bladder damage or urinary tract symptoms.
And there is quite a bit of literature to support the assertion that these are potential side effects, especially of recreational use of ketamine. And sometimes goes by the name ketamine bladder syndrome. And I would suggest going to PubMed, if you just search PubMed, PUB, MED, and you search ketamine bladder or ketamine urinary tract, then quite a few papers will come up. So in the abstract here, this is ketamine bladder syndrome, an important differential diagnosis when assessing a patient with persistent lower urinary tract symptoms.
Abstract recreational use of ketamine is increasing in popularity due to its dissociative and paralytic effects, ease of availability and low cost. This is from 2012, just a timestamp. However, serious and frequently irreversible damage to the urinary tract is a recently recognized side effect of recreational ketamine use. And this goes on to present a number of case studies.
So my understanding is, I'm not a doctor, I don't play one on the internet, but my understanding is that this is reasonably common in recreational use, but I'm not aware of how frequently that pops up as an adverse event in the clinical trials that have been done. And those would be documented in those studies. So you could certainly look for, say, John, Chris, OK, R, Y, S, T, A, L on PubMed and look at studies. And if you get the complete study, not just the abstract, you can look at the frequency of adverse events.
And most certainly, something like that would be included, I imagine. But you can find more in depth information on PubMed, which is surprisingly easy to use. And I find generally quite user friendly, even though you may need to look up some words now and again. OK, well, here's one from Sabrina.
I'm my own bottleneck in my business is that bad. It's not automatically bad. Depends on what you want to do with your business. If you are a artisanal high end leather pant maker, and I actually read a case study about such a person who makes super high end leather pants, or did at least for people like Cheryl Crowe, Mick Jagger, et cetera, then you are an artist.
You are the business. You are the artisan who is producing your craft. And if you choose that, and you're accepting the good with the bad, then I think it's 100%. OK, of course it is.
It just depends on what you're trying to do. And there's no right answer to that. I know many business owners who have chosen not to scale very, very deliberately. And I actually find those counter examples to today's Gestalt and drive to scale and build, say, public companies or companies get acquired to be very refreshing because it doesn't get as much fanfare.
But there is a book that I haven't read in a very long time, and I really enjoyed it. When I did called Small Giants, the subtitles companies that choose to be great instead of big, and is a book by Bo Burlingham, B-U-R-L-I-N-G-H-A-M. So small giants, but I very much enjoyed that book. When I read it, and in fact, the example I just gave you could have come from that book.
There's a decent chance that it did. Question from Al, what blogs and newsletters are you excited about reading or receiving every day? There's nothing that I receive every day. There are at most newsletters that I get once a week, and they're very few.
I mean, the microdose, which is from UC Berkeley and gives a synopsis of happenings and news events in the psychedelic space is of interest to me, but very few newsletters. And in fact, even with other writers, I really, really enjoy. So for instance, Matt Levine, Bloomberg, for instance, I think Matt Levine is one of the best writers of my best. I mean, not just prolific because that is not the measure.
Volume is not the measure. Word count is not the measure necessarily of a good writer, but his combination of volume and insight, like the density of insight to who words per page is staggering. Nonetheless, I know that I have three or four friends who read Matt's work religiously, and I depend on them to forward me specific snippets or specific newsletters that they know align with what I am focused on at the moment. But if I were to add say one other newsletter to my regular consumption rounds, it would probably be from Matt Levine, and there are a handful of others I find interesting, but there's nothing that I get on a daily basis.
And that is by design. Question from Megan, what are the first steps you're planning to take on the animal communication journey? Well, there are a number of them. And for those who don't know, this is something that came up in my recent conversation with Dr.
Dabor Mate. One of them is identifying one of the steps is identifying where animal communication can actually be tested, if this makes sense. So, and this comes up in all sorts of fields. If you're trying to find an expert, how can you identify?
Let's just take a different field. There are many folks in the US and elsewhere who claim to be animal tracking experts, but how can you as a non-expert in animal tracking assess if someone is full of shit or the real McCoy? The short answer is generally you can't. But if you look for the exception and the exception is any type of system or company or organization within which trackers are actually tracked themselves numerically, then you can start to get somewhere.
And in my case, I ended up looking at Safari outfits in Africa that keep records on trackers because they could identify, for instance, that the average for let's just call it leopard tracking, successful leopard tracking during these hours is 23%, but so and so has an average of 71% as a success rate. And you get almost majorly baseball statistics, animal by animal, time of day by time of day for these different trackers. And then you can start to assess on an objective level, who is actually good. This is even more difficult with something like animal communication, depending on how we interpret it.
But I'm starting with, I would say two things. The first is revisiting dog training and mammalian training. Although a lot of such training is behavioral shaping and using nonverbal cues. I'm okay with that though, by communication, I'm not limiting that to verbal cues.
So it could be using a clicker. I'm going to be revisiting Susan Garrett, who is a master dog trainer. I had on the podcast, How Do You Know A Dog Trainers Good? Well, for me, I looked for sports, she's using multiple time from remembering correctly, National Agility Champion with her dogs.
And these are objective measures, which I like. I like to start there. And then secondly, I'm very interested in looking at different methods of hunting and how hunters interact with animals. The most obvious example that comes to mind for me being elk, where not only are bull calls being used as a way of drawing in bull, but also cow calls of different types.
And there are actually elk calling competitions where people get on stage and are asked by panel of judges to produce different types of calls. And it's mind-boggling. I mean, it's very, very impressive what some of these hunters can do. So I think those are two places where I'll start.
There are other examples that are of interest to me that I've looked into and will probably spend more time on equine therapy is quite interesting from a, I suppose more of a physical kinesthetic, interactive perspective. But those are some of the jumping off points that I expect. I'll spend some more time on it. Question from Dan.
And then I'm going to come back to the PR marketing stuff with some of the questions I have here. Dan, what is your protocol prior to taking a three day fast to get your body ready? So when I fast, again, not medical advice, talk to your doctor before doing any fasting, you can't even get approval to do extended fasting. Probably couldn't get IRB approval to do three day fast in humans, depending on the circumstance.
It'd be very hard. It's really hard to do scientific research on extended fasting these days. In any case, what I typically do for a three day fast is, let's just say my fast is going to begin after an early dinner on Thursday night. That is typically how I will line things up.
Don't do your first three day fast in the middle of the week. It's going to fuck up your whole situation and you're going to send a lot of emails. You're going to have to do damage control on. So don't do that.
So leading up to then, if my last meal is, let's just say Thursday at 6 p.m. What I will do in the two days prior is I will get on a sub maintenance calorie ketogenic diet. So I will be having smaller meals than usual that are going to be predominantly fat. So let's just say hamburger with some cheese and maybe a side salad.
But I will be consuming fewer calories than thought necessary to maintain my lean body mass. And you can calculate resting metabolic rate and try to figure out what that is based on all sorts of factors. So lower calorie keto for maybe two days beforehand with a fair amount of exercise to deplete glycogen stores a bit. And then last meal would be a smaller keto meal on Thursday.
Sleep as long as possible. That's part of the reason the timing is the way that I set it up. And then beginning on Friday, what I try to do is prior to that set up Friday for phone calls so that I could be moving. So I try to get away from my laptop and move.
This will actually be very, very helpful for a whole host of reasons. But on Friday, as soon as I get up, I get a huge bottle of water. I fill it full of electrolytes like elements, which is what I've been using for a couple of years and maybe put in a little bit of lemon just for flavoring non-chloric. And then I will walk and talk.
So I'll briskly walk for three to five hours minimum and take my phone calls. This will help on a number of levels. You will still have some residual glycogen and you will break down some of that into glucose that your brain can actually function on Friday. And you can have a bit of caffeine.
Don't overdo the caffeine. One of the mistakes that novice fasters make is they feel a little sluggish. So they end up having way too much caffeine and then that inhibits sleep. If you do not supplement with electrolytes, there's a good chance that you're going to experience lower back pain.
I won't get into the mechanisms responsible for that. But very often you'll have lower back pain, especially if you do more than a three day fast and you'll have a colon or tick response where your heart rate is really fast. So I always supplement with electrolytes these days. And it's water only.
Now, if you want to have say some black coffee with a little bit of pure heavy cream, 100% fat or a little bit of coconut oil, I don't think that inhibits most of the beneficial effects that we're looking for. Okay, so then that's Friday. Then Saturday again, same deal. You don't have to walk as much, but it will still be somewhat helpful.
And in fact, a little bit of weight training can feel very good cognitively. And then Sunday, you're going to break fast, right? Not at breakfast time, but that night. So then Sunday night around, let's just call it six, seven, whenever you would have your first meal leading out of the fast.
And they're all sorts of superstition around this like, Oh, you have to eat grated cabbage and you have to do this and you got to start with some unpasteurized fruit juice and this and the other thing. My uninformed take or semi informed take is that that seems kind of nonsensical to me. If we were starving in any circumstance, would our body and evolutionary drives require us to start with shredded cabbage? I mean, it just doesn't make any sense to me.
So when I break fast, I'm generally breaking it with another keto meal. So I like to extend some of the effects of the fast or at least the ketogenic diet for a day or two afterwards, you don't have to do that. But I will very often break the fast with something akin to the meals that I used for the preparation for the fast. Those are some of the thoughts that I have on at least how I personally prepare for three day fast and implement three day fast, your mileage will vary and please get professional medical advice.
Let me take a look at some of the questions that were sent in advance. This is a question from Dave. Are you seeing any trends in successful nonprofit launches? I'm kicking off an effort to generate and share coastal resilience and data.
All right, so the subject area coastal resilience data certainly mentioned to me. And what I would say is study trends in the for profit world, launching nonprofit ventures, launching for profit ventures, the principles are exactly the same in my experience. I think some nonprofits have done a very good job with promotional efforts. I think donors choose and share water are two that come to mind immediately that are very good and have for a very long time been very good at this.
So you might take a look at those, but I would really borrow from the private sector. The stakes are generally higher, the talent and competition more intense in the for profit world. So a lot of the mediocre or B minus approaches will just get massacred before they receive light in day. They won't actually overcome any degree of competition.
So I suggest that you look at the for profit world. Now for fundraising purposes, fundraising is slightly different than selling a product, although I think there's more in common than there are differences, to be perfectly honest. But I would look at any number of older examples. We don't need to reinvent the world here.
So what I would say is, and I've mentioned this book before, but I will repeat it because it'll come up again in a second just as proof point. I'll give you evidence that this actually does work. The 22-meter-able laws of marketing get the older one, not the for the internet, which is horribly out of date. Get the older one that has the beer examples, the airline examples, the 22-meter-able laws of marketing.
And take a closer look at that. Also read 1000 True Fans by Kevin Kelly. That's on kk.org 1000 True Fans. And last but not least, read the 80-20 principle by Richard Koch, K-O-C-H.
And the first two of those 1000-true fans will take 10 minutes to read. The 22-meter-able laws of marketing, some of which is not going to apply, but a lot of which will take you maybe an hour to read and then the 80-20 principle will probably take you a day or two to read. So you might sequence it in that way, but I would focus on those. And then I'll give you maybe an unorthodox recommendation, but in 5-0 at Friday, my newsletter, if you're not on it, check it out, Tim.blog.slash Friday, about 2 million people subscribe.
Let me take a look at what I included recently that I found, led to a series I was very interested in. And it is a YouTube series. Business Insider has a YouTube video series about business collapses. And one of them I found fascinating called How the Beanie Babies Frenzy Collapsed.
That's an 11-minute video. And when you watch How the Beanie Babies Frenzy Collapsed, which I recommend, because it may relate to a lot of the implosions that we have seen and will continue to see with some of the activities and NFTs and so on. But these historical examples can not only teach you a lot about what doesn't work, but about what works. So you're embedded in these How a Film Blank Collapsed are certain principles that I think you can also borrow and apply.
So that series by Business Insider, I think, is exceptional. I looked at a few of the videos and found them all very, very instructive. And each one had a number of takeaways for me personally. So I would encourage also taking a look at that.
I'll do one more and then I'm going to come back to the live chat. This is going to serve as both a proof point and a question. So this is from Joel Hoyt-Tim. It's going to be a little long, but I'm going to read it anyway.
I love your Q&A. I really appreciate the opportunity to hear curious questions from the gigantic diversity of people you've helped. So thank you for this. My question relates to the 22 Immutable Laws of Marketing by Alreese and Jack Trout.
Also thank you for introducing me to this book in 2016. It has since helped me build a business with 1.8 million lifetime sales for making porcelain coffee mugs. Okay. So this stuff works guys.
It does work and I can't take credit because I learned from the book as well and I've applied it. So I am simply passing along something that no doubt was introduced to me by any number of people. All right. Back to the description and the question.
The problem is that I handcraft each mug with my bare hands using porcelain clannab pottery wheel. I'm living the dream, making living as an artist, and I'm obsessed with the art of the pottery mug. But it's pretty damn hard and I'm still working on long-term sustainable profits. I've thought about outsourcing to China, the porcelain capital of the world.
That's fraught with problems. So instead of trying to grow by selling billions of cheap mugs, I've decided to grow my business by handcrafting mugs worthy of a higher price. I agree with the spiritual. I think that you do not want to be engaged in a race to the bottom.
However, back to the text, that means creating a sort of luxury brand. Since this doesn't exist today, we're focusing on law number one, the law of leadership that says it's better to be first than it is to be better. These mugs are art, but they're not better than the world's best sculptures and paintings, which often sell for millions of dollars each. Or fancy-ass, diamond-crusted purses that sell for tens of thousands of dollars each.
But I believe it could be the first mug to inspire people globally as a piece of art that you can enjoy your morning coffee from every day. Law number four, the law of perception, has been one factor that helped me sell mugs for $500 to $1,000 per mug. Nicely done. But the vast majority of customers want to keep a mug.
How would you evaluate whether or not a luxury mug business was worth pursuing? And if you determined it was worth pursuing, what would you do to grow? All right, let's hop into this. So there are a few books I would recommend checking out Joel.
As usual, I have many book recommendations. So the first, which I've not read in a very, very long time, but maybe helpful, is a book called Selling to the Affluent. That's by Thomas Stanley. And you may be able to find a summary and to determine if it is in any way relevant to you.
One way that I assess books oftentimes is trying to find a Wikipedia page for the book, which will give you a synopsis of some type. So selling to the affluent by Thomas J. Stanley, I found certainly helpful at one point when I was considering many of the same questions for different businesses. The other book may sound a little funny at first, because it would seem to be anti-advice.
But it is called Deluxe Subdital. How Luxury Lost Its Luster. And a lot of alliteration here. It's hard for my tongue to get out right now.
But this book is by Dana Thomas. I hope I'm getting the pronunciation, right? Deluxe. Is that the book?
How Luxury Lost Its Luster. And it talks about different high-end luxury brands and how some of them have compromised themselves by outsourcing supply chains and making other poor strategic decisions. But embedded through the whole story and the various case studies is the cocktail of ingredients that have made some of the most durable luxury brands the world has ever seen, at least in the last several centuries. So I really greatly enjoyed this book.
It's got 3.9 out of five on Goodreads. For your particular case, it's about 400 pages long. I think that is worth reading for a whole host of reasons. And then what I would say is to your last two questions, how do you evaluate whether or not Luxury mug businesses worth pursuing?
I think that, and I have this predisposition too, it's very tempting to try to figure it out, right? To sit down with pen and paper, look at a few databases and decide is this worth doing? Is it not worth doing? That can be very time consuming.
It can also be misleading. Maybe you have, or actually certainly you'll have partial information. The question I would reflect back to you is how could you test in the real world whether or not this is worth pursuing? So if you had pick a budget that you're willing to lose, five grand, ten grand, how could you use that to determine, to test the waters, to see if people are willing to buy whatever you have to sell.
And so what does that mean, Luxury mug business, right? If you're selling mugs for 500 to 1000 per mug, I don't know what changes in order to make it a Luxury mug business. Does that mean $5,000 per mug? Okay, fine, 10,000, whatever the number is.
There are people out there who will buy such mugs. Another question I would just add to this is, what story do these Luxury mug buyers get to tell their friends? If you look at the contemporary art world, you will see, I'm not saying this is the same, but I think there are overlaps. The story fucking matters a lot, right?
You can't just tape a banana to a wall at Art Basel with duct tape and have no story. There needs to be a story. There are many documentaries that you could consider watching. The price of everything is a documentary about contemporary art.
And I found it very, very engaging. There are many contrasting styles in here. So check it out. Here's the description with unprecedented access to pivotal artists in the White Hot Market surrounding them.
The price of everything dives deep into the labyrinth of the contemporary art world. It examines the role of art and artistic passion in today's money-driven consumer-based society, where everything can be bought and sold. I really enjoyed this. I really, really enjoyed it.
So this would be another recommendation because there's, again, no need to reinvent the wheel. I mean, these are not necessarily identically the people you're going to be selling to, but what does it take to sell the highest priced X, filmable, like whatever that is. And in fact, some of my answers are going to be overlapping with a question from a listener in Brazil, Carlos. I'd like to know your thoughts about how to market a product designed to high-profile people, consultancy for professional soccer players, which channel would you recommend?
Are there some case studies to which you'd refer? Thank you for everything, big fan from Brazil. Okay. So all of the books, Carlos, this will apply to you too.
All of the books and the documentaries I recommended would apply. Another thing that you can do is study the luxury grants, figure out who their PR firms are, go to the PR firm websites, and look at their campaign case studies, see what they do. You can learn a lot by doing this. You can create, in the old days, what was called a swipe file where you find, for many years, whenever an ad convinced me to spend money, I shouldn't spend.
So let's just say, back when I was making 35, 40 grand a year, if an ad came across that convinced me to buy something that was $500, that was a lot of money to me. And if it actually convinced me to even pick up the phone or get online to buy it, whether or not I completed the purchase, I would keep that. I would tear it out of the magazine, or I would take a photograph of it, or I would otherwise try to record it in some fashion. Let's say it was a radio advertisement, I tried to remember the text and I'd type it out.
And I would create a three-ring binder of all the things that almost or did convince me to spend an inordinate, let's just call it unreasonable percentage of my after-tax income. That is another thing that you can start to do now. You do not need to be a professional market analyst to do this. You just need to be aware of your own behavior and what drives you to purchase decisions or near-purchase decisions.
So just to reiterate something I just said, brands you admire that do a good job, campaigns that are doing a good job, or individuals who are doing a good job with selling into luxury markets, study what they do, figure out who their publicists are, figure out who their PR firms are, and then study those publicists and PR firms. Most of the time, both of those categories are going to be providing campaign examples and so on. And you may even be able to get on the phone to have an exploratory conversation with these people. Those are a number of examples, and the other question that is worth reflecting back and supplies to Joel as well as Carlos, that I reverse engineer a lot for myself, is set the price first and then make it worth it.
So, for instance, when I had an event, and I never do events, I never produced events, so there's such a pain in the ass, but I did produce one very high-end event. I decided that I wanted to charge, I think it was minimum $10,000 a seat, and then it went up from there. So the sooner somebody bought the less expensive it was, then I just went up in price. So the minimum was $10,000, and I started with that as a nice round number, and it was, I think, a two or three-day event, and then I thought to myself, all right, I want to charge $10,000.
How can I deliver that much value in the first two hours that people are there? So that I don't have to worry about it. Like, how can I over-deliver in such a way in the first hour or two that everything else is gravy? Everyone is thrilled they came within the first two hours, and that's a creative exercise, and I was able to pull it off.
That is because I decided on an ultra-high luxury price, and then asked myself, how on earth can I make it worth it? What are the different ideas I have for making it worth it? And ultimately, it came down to sharing the actual book proposals that I used for the Foreign Work Week and the Foreign Body, entirety with a few things redacted, just for sensitivity, and then also acting as a matchmaker for everyone in the room for the period of about an hour or two, 90 minutes. And after that, everybody was set in some respect.
And for those people who might want to borrow this format, each person got up, and the format was, give a brag. You have to give a brag about yourself. So you have to brag in some way. Then you have an ask, and then you have a give.
So everybody in the audience, I think there were 100 or 120 people got up and said, this is who I am. Here's one thing I want to brag about, or maybe I don't want to brag about, but since it's a directive I will brag about. Here's one thing that isn't asked, this is what I'm looking for, and then here's one thing that I can give that I'm really good at, or relationships that I have, expertise, whatever it might be. And I just encourage everybody to take notes.
If you can help somebody who has an ask, go help them. If you need something that they have on offer, because that's a give, go find them. And the rest of the event took care of itself. But I would not have come up with those answers had I not asked the right question.
It comes down to the right question. So start with the price that makes it work. Right? Joel, luxury mug business.
What does that mean? How many mugs at what price? Right? Let's just say your goal is $100,000 a year.
Well, the answer could take many, many, many, many different forms. Is it 1000? Well, let me let me step back. We'll make it a million dollars.
Let's get ambitious. A million dollars a year. That could be a thousand mugs at a thousand dollars a piece. It could be one mug at a million dollars, or it could be somewhere in the middle.
Right? And how can you mitigate risk in these experiments? Well, I mean, look, if you look at different examples of collaborations, you have, for instance, CryptoPunks now owned by Ugalabs, partnering with Tiffany to create, you know, be dazzled, customized, CryptoPunk jewelry. All right.
How the fuck do these things happen? It's worth digging into trying to find out how those things happen. What are the mechanics? What are the agreements?
What are the responsibilities of the various parties? And not to be labored that one example. There are many such examples. So, for instance, how do you or how could you potentially have one or 10 or 100 of these go into gift bags at the Oscars or at the Goldalobes or film the blank?
This doesn't automatically work, by the way. I have had my books put into such bags. Sometimes it has amazing effects. Sometimes it doesn't.
Sometimes it has amazing effects you don't even know of until 10 years later. Right? So be prepared to play the long game if you're going to do anything like that. And you have to be prepared for your investment to go to zero.
So, if your material cost and your labor cost is 10 grand, maybe it's worth rolling the dice. If it's 100 grand, maybe not, depending on your financial picture. Okay. There we go.
So, that's that. I'm going to come back to the live feed. Whoo. Who knew I had so much to say about PR and marketing.
It's been a while. Hopefully this is helpful for folks. All right. Let's get into the live stuff.
And I'm just going to keep going guys. I'm having fun. So, if you guys are having fun, I will keep going. We're about an hour and 13 minutes in.
I'm happy to keep going. I've got my I stay. So, let me know if you're having a good time and I will, I will keep going. And this luxury mug example should not be dismissed if you are in a different business.
Even if you are an assas business software as a service enterprise SaaS, you might think this has nothing to do with me. It has everything to do with you potentially depending on your pricing tiers, depending on your funnel, depending on what stage your company is currently slogging through. If you've already reached escape velocity and you have all your pricing structures and you have your entire sales force, maybe not. But if you're trying to land the first SAP like customer, maybe it has everything to do with you.
So, the principles apply very, very widely. All right. Let's get in here. Go Timmy, go.
Thank you, Ellie. I'm going. I'm going. Ryan, any new favorite travel spots to recommend?
Honestly, I've been spending a lot of time in the US. The US has so much to offer. And as a young whippersnapper, my early 20s, it's easy to fantasize about everything else in the world while neglecting all the treasures right in your backyard. So, treasures could range from North Carolina and the Smokies to getting to, let's say, British Columbia or Pacific Northwest and the rainforests in the Pacific Northwest or going to the Southwest, going to places like Moab.
There's so much diversity imbued in the United States. I've really been trying to pay more attention to what is in the US most recently. Nick, the Hairband video is a great addition to that. Five bullet Friday.
I'm glad you enjoyed that. That was a music video from the Bullet Boys, which I listened to when I was like 12 years old and I just thought, I have to include this video. Money, money, money, money. I think that was related to the Beanie Babies Bullet as well.