Podcasts that mention 📚 How to Be a Capitalist Without Any Capital by Nathan Latka

I mean that my publisher by the way hates the book because it's not timely it's not timeless like you've had some other people on essentialism gary with the one thing the books will sell for decades this won't cuz there's so many screenshots like I put in here look it was in the show notes but like these are my tax returns from 2013 on page six when I was in college you see that yeah yeah so there's like what Jordans looking at is there's nine hundred nine thousand dollars in sales but it also shows the expenses I was like holy crap you made that much and oh just kidding nevermind yeah no that's that's all top-line in my dorm room but I hired like 20 people yeah I don't know it says net down there is more like 150 yeah yeah but but P not bad for not bad for a guy in yeah right yeah and and so and then what's interesting about this is this ultimately turned into did you have you had right now asan with eye contact selling a bell okay but that turned into this on page 243 you read they're just what that part says the highlighted part that's great Wow total purchase the purchase price will be up to six point five million dollars and will be paid in the following manner and there's a lot of others like political my study in law my point is like that revenue mmm that you just won the tax return turned into eye contact this is in again 2013 timeframe offering six and a half for the company which would have put I walked away from this but it would have what I own 60% you can do the math more than 3-million my pocket nominal yeah but huge mistake by the way I walked away we can give that if you want but I bring all that up just to go back on the thing of like these networking groups are famous for like all the revenue all the revenue but what matters is like how much you keep not how much you make in my opinion first in fact Mike Micallef sort of book about this and it used to drive me crazy I used to get FOMO and I think a lot of people listening and watching also get FOMO because they go oh man look at this person's multi They're making a million dollars a month and it's like okay they took a cash injection of seventy million dollars yeah and that investor now owns I don't even know 80 at ninety percent percent of the business they're making a million dollars a month but their outgoing costs might even be more than a million dollars a month yep you don't know because and they're not telling you that because it doesn't sound good no it doesn't sound good at all this is what Mike's book I mean if you look on Amazon it's like a number one bestseller play because it cuz it because it makes a lot of sense I mean the most successful people are the ones that are bringing the most of the bottom line and then reinvesting in themselves somehow and I think that's obviously the most powerful place to be so what sort of practicals can we give right now we talked about getting people to agree with you how do we bring people through the process of getting others to agree with us cuz you're you're really good at this this is something we should teach the audience well I mean so so something here's the thing I'd love to start from a place because I think maybe some people in your audience are people that don't have a podcast like you have to trade with people or they're starting with maybe nothing yeah and so the question is how can you do what we do but not have an asset to trade and the way that you the way that the example I like to give on this is is kind of called elephant bumping and let me give a practical example here because anyone can do this so have you guys ever gone on Airbnb when you guys travel are you in general to LA yeah have you ever just gone in there and you sort from most expensive to least just yeah yeah you're like maybe I can afford ten grand a night like or whatever right so I do that all the time and so I did that for this place in LA and this was three or four years ago and I came across this place called speck spectacular tell hi three-bedroom penthouse right and it was in spectacular oh I see I don't know even was that means telic tacular what I say some I just said a different height Telegraph Hill is how that is not that I think so up high overlooking San Francisco yes yeah yeah but it was beautiful beautiful spot like there's no way I can afford this isn't that where we had that dinner you had that dinner for all of them were you there I was there sorry Matt hold on so I'm never trained the back sorry behind me that happened about spending money no but I remember going there and telling Jen dude this guy's apartment had like a full wall of windows and it overlooked like all the boats it was so cool okay this kid has a trust fund somewhere I wish yeah okay so here's how I did that you own I reached out to Tommy who owned the place is that hey Tommy I'm looking for a place I can both stay at in San Francisco and host a 10 to 15 person mastermind in I'll do one dinner each night write the quoted price above is way above like my budget are you willing to be flexible what is the best price you could offer for the night of the 24th 25th and 26th last day I check out he wrote back and makes it said I have no I have no flexibility and I said Tommy my intention to host a 10-person mastermind the people that I'm inviting are XY and Z and I listed some big-time CEOs Rick rodman with focus and some other people and I said if I invite you to the mastermind would you give me a discount like so basically I'm saying I'll invite you to your own house sir mastermind that I'm having I didn't took a picture of this Penthouse and email a bunch people that I wanted to have like you too so you'd seen go holy even know if I saw the photos you may have not just accepted your invitation because I'm not a douche that's awesome I like that but a lot of people let me make they reacted from those photos so I used two things I didn't own the connections to the CEO that was inviting and a penthouse I did not own right and I just forgot to bump them into each other and create an event where people's impressions has the impression that you were right so the people would go well I will go to this he's got a really great spot so maybe the CEO Focus says to himself this looks legit exactly though exactly and then the trick here is you might go well Nathan I can't do that I don't know CEOs to invite so what you do is you see email everyone just put together your top ten list people impress the hell out of you and you email it to everyone and say hey this is the invited and confirmed list invited and confirm so they could all none of them maybe maybe only ones confirmed who's like your best friend all the others are just big names you've invited that's why it's invited and confirm the thing is they then see that other people see it and then actually start confirming or they see the penthouse and actually start confirming before you know what you put a great mastermind on so I ended up paying they wanted I mean I think yes so I got that place for a thousand dollars it was listed for $2,400 so I got basically a 60% discount with this kind of template that I have all the screenshots here on page 113 in the book and that's how you get what you want what I like about this book is it has the the where the rubber meets the road is in there yeah because otherwise you get books that go oh well what you want to do is you want to find a win-win and it's like great so for example and then they tell like in 1968 build more selling typewriters and it's like look this is not I know what a win-win is how do I say this thing and then say this other thing and then get those things to collide into each other and that stuff is in the book the reason your publisher like you said doesn't like it is because it has things like here's my email you have a lot of shirtless photos in here for the other strap finally cougars and the gays they get sort of a good at six pack that's right and you've got the email screenshots of the Gmail you've got your calendar screenshot in here yeah you've got hold on go back to that page you just flip by the one of me then what this is the full bathroom mirror selfie yeah yeah this is this one's funny because actually let me get everyone it's a big it's bigger I'll do this one it's not really a bathroom here okay I'm gonna ask you we're gonna quiz here okay who do you know online an influencer proposes in front of Rolls Royces all the time yeah there's plenty he doesn't want to name a name he's very politically smart that way yeah um here's how that world actually works okay I only had 5,000 Instagram followers mmm but I sent out an email to auto exotic rental and said basically I'll post a picture of you of me in front of this Rolls Royce if you give it to me for free this was the CEO of the car company around two places response hey my name is Toby on the main contact from marketing for auto exotic rental thank you for reaching out to us we can definitely work with you we have the rolls-royce ghost is there a particular date you're looking at so I can check the availability for you please feel free to contact me at any time hope to hear from you soon long story short as I was driving around this rolls-royce ghost which if you paid tailless 49 bucks a night I got it for two nights for free and just posted one picture to my Instagram of me driving this thing tag the tag me and I only by the way a lot of y'all think you have to have a million fault I had 5,000 followers 5,000 it's not a ton no that is nothing absolutely suitable there are there are many ambiguously possibly gay possibly not gay dudes that have at least that many yeah and and and we can respond this works for straight people to join my point is though is that just comes down to getting the right email template yeah how to reach out to the brand to get them to give you stuff for free and that's why you see me posing shirtless in Bali where I traveled for 45 days for free just trading Instagram pose for this with a very small following you have to be shirtless in the pose not always but as you know on Instagram Jen back me up here on Instagram the guys the six-packs they always get more likes that's how it works I I think that I might not be able to leverage exactly that strategy however Jen give me salad for lunch today instead I think that I can work with this what happens when somebody's so I also now I'm thinking to every car I've ever run into just seeing my money lighting on fire yeah yeah you could trade every one of those here's a quick tip for your audience if they travel and they want to see luxurious places there's a code word that if you ask for when you call the hotel they'll give you 60% off how did you know that the media I mean the media okay audience before no let's go through this is it really okay yes it's you just say what is your media rate and what happens when you ask for that on the phone what happens is they go oh well it's half of what we have on the website the only downside that can happen is they go yeah you get one night at that rate and the rest of the night sorrowful because that they figure you're gonna stay at that hotel and then review it at that price you don't need to stay for a week yummy you can stay for a night however I feel like there's probably room there like look I don't want to have to check out and go to another hotel yeah can you just give me the rate for the whole time and we'll try that next time a lot of times we use points or we get really good rates on other stuff will we stay with friends but the media rate is a good win you you can stay at the four seasons in freaking Barcelona Spain the Hugo price on Orbitz or whatever yeah not just lower like big discount and count and I mean I'll admit to this your audience when I first heard trying this I don't want to go hire someone to like be my agent or rep yeah so my name was Wayne which is my middle name Nathan Wayne luck I'd call up the Jeffrey in LA and say hey my name is Wayne I'm representing a talent named Nathan latke he had his own podcast he's looking to come these days he's looking at the London or the Geoffrey to stay at what's your media rate and then I will port back to Nathan and see which one he picks oh and so you make him compete you get the meteorite you drive it down and then they'd say well here it is for one night and I'd say well Nathan really doesn't want to do one night he gets angry really easily and doesn't like shifting hotels if he leaves a TripAdvisor review could he throw in two other nights or if he does two posts instead of one can you throw in another or two nights and so I would be my own agent to understand how they thought and then line it up luckily I have my own live in you have a really good so here's that this is funny I was interviewing Mike Posner yesterday you know I don't actually know Mike City you know that song I took a pill in Ibiza oh yeah he wrote that and he wrote a bunch of other songs that you've heard from like maroon 5 Justin Bieber he's really really talented dude and this other guy walks in and like trainers and it's like hey John I'm a fan of the show I was like oh hey come on in nice guy who is with Mike Posner who knows my show and I said so are you like his friend or an assistant he goes well I'm his aide-de-camp and I was like that is such a better name that assistant so now Jen is my aide-de-camp no more because otherwise it's like if you say assistant they're like it's not your wife you jerk and yeah yeah and then if you say wife people are like why am i dealing with your wife you got to bit yeah turn what's funny yeah what's funny is it takes a little balls and courage to like be your own agent obviously but what's interesting now is like I'm signed with CAA because I pitted them against UT and WME wide negotiator reality show on linear that goes live later this year it's linear cable TV got it TV TV yeah yeah I've heard a cable yeah yeah I think we had that when I was a kid but like all that leverage came from these like little weird things that I did early on over the past decade that we've again put in the book so um and it's it's funny because people are going oh well this guy just lied about everything but here's the thing if you are pretending to be your own assistant I don't really you're not really deceiving someone you could hire an assistant it would just be expensive in a waste of money exactly I'm saving money right hurting any right you're not telling someone oh he's the editor in chief of Foley's exactly right that that would be BS yeah if the business is making the decision because you have a perceived higher value because you have an assistant that is that at worst is social engineering yep and I'm worse I have no problem with this some people watch sure now if you're a pastor or piece or something you may have issues with this I have no here's my rules on this you can't lie yeah and it can't be hurting anybody ever if it doesn't anything else totally fine yeah cuz the hotel is not losing money on this that room was otherwise empty they're not gonna give you a room that somebody was paying full price for that's right and they're still getting I mean it is Nathan lapkus staying there I'm just I'm putting Wayne in front of Nathan to socially engineer and then Wayne is emailing the hotel my social profiles they're seeing all the real stuff it's just you're putting someone in between and it right creates a perception of scarcity oh I will tell you this I hired a show Booker because when I reach out to people they're like if your show really adds five million downloads a month and this screenshots not fake why are you emailing me exactly I'm like because I don't mind talking with oh wait a minute I've got to be hoity-toity LA Hollywood exactly your attention fine here's money to I I have a fancy guy who's got a pedigree and a cool accent yeah who lives in New York who calls people and sends them text messages and goes to do you really hear the hours yeah wait I got how much you pay him yeah he's he's on retainer for twenty five hundred a month see so I'm just cheap I don't want to pay that so I'd rather invent Sarah at Nathan Walker comm and have me be responding through Sarah's email to be fair he's got real connections he's a sucker for a real television show in New York that is that what that a lot of people watch so I pay him for his connections but I would say maybe half of what he gets is so that he does the work that I don't have to do but also so that people go oh well if you're that guy at that agency then you must be a big deal smart and it has saved me a ton of time yeah because unfortunately people do look at our brains are wired to look at quick things for perceived value yeah so if somebody is from an agency has certain prestige it doesn't matter if that person just is for hire on freakin fiver yep it doesn't matter it what matters is the person goes well I don't have time to investigate this Jordan guy but since his Booker from CAA is reaching out he must be humid this must be real yep and that's an unfortunate reality but and the problem is you can't if you're not doing it since the bar is now raised you you're losing I realize before I was like who cares I'm just gonna book my own show it's fine it's worked for a decade the problem is now you've got a lot of these fake influencer d-bags that are doing all kinds of things to show how important they are and you have to actually have unfortunately some of those accoutrements or you're just going to get lost in the shuffle because they're going to assume that you would at least have what the fake guys have you hatch is unfortunate you have to play the game and then where you really rise above the cream of the crop which is you don't do fire festival right when you write when you when you say to my podcast sponsor I'm gonna deliver you X amount of customers you deliver those customers and they stay with you for life even though you're playing the game upfront of having an interview today or somebody in between so you know I have no problem playing the game I think it's important yeah I like your rules though remember people no lying and you can't hurt someone so if no buying 200,000 Twitter followers and then selling tweets to potential sponsors if you want to deliver the customer it's called fad - yeah fraud what you're doing is you're leveraging something that the person might not have thought of before and flipping the right switches yep yeah that's it's a it's funny if 10 years ago I would have said you know we would be talking about this in dating and it would be completely it's a new way yeah exactly yeah it would be the your buddy go sit say hi to the girl and then bring her over to you and it's kind of a classic example of this in a dating context was a lot of these pick up guys would always be like yeah go up and be like yeah man I had a long-dead my Ferraris in the shop so I had to borrow the loaner car and the loaner car wasn't as cool as my real ones it doesn't have leather seat like all this dumb crash but what I realized was there are different tiers right like if I tell you that I've got a great big house which is a terrible thing to do but whatever this is you know Hollywood dating scene pick up crap you go yeah really I don't know but if my friend tells you you're like oh that's interesting maybe I'll listen but if you overhear the conversation between other people and I'm not in the conversation that is the top tier of credibility like if I tell you my shows got 5 million downloads a month you're like oh well maybe that's true Jordan seems trustworthy if a friend of yours tells you that it has that much now you believe it but if you find out because you overheard two random CEOs talking about the show when they weren't even telling you now you think well that has to be true cuz I wasn't even they have no agenda to try to persuade me I was just in lobby yes and the problem is is people actually do sometimes they set that up on purpose like it seemed like there is no and there is yeah this is like you have to this is like the future by the way with like fake profiles mean can you imagine have you seen these videos where people can now essentially it's a clip of Hillary Clinton speaking but you can alter it so I'll fakes yes like we're gonna have a real issue with this because videos won't even be true anymore I know they can be doctored it the problem is here's what's gonna happen one dock one video out of a billion is gonna get doctored but it's gonna be something important and then Alex Jones and all these Yahoo's are just talking about it yeah and then every video that everyone watches for the rest of their life they're gonna go as price take well that's the issue right so now every single thing we see content wise moving forward is gonna simply be it's not gonna matter if it's true or not right as no one knows what to believe it's gonna be who is more persuasive yeah it's saying this is called an iPhone no it's called a n phone because of XY and Z right and it's gonna be a persuasion game which is scary it's scary and unfortunate because the most persuasive people aren't necessarily going to be the most ethical ones so usually not usually not exactly why they're so persuasive exactly yeah and and you're you're right we're gonna run into a huge issue which is this goes into this whole threat of trust which is I will never lie to the willingly or knowingly lie to the people who are listening to or watching me because it you what is it that phrase Trust takes a lifetime to build losing today that you lose it in today no it's no hurting people yeah and it's it's better to live that way you can sleep better trust me and frankly it works better look you said you play the long game long game it's always better to have told the truth the whole time even if it cost you something short-term because when it really really counts people want somebody they can trust totally and if you have that record behind you then you're good some of your biggest some might be good sponsors today or ones approach me that two years ago I said sorry I can't beat that CAC you're not a fit there's no idea even let you run a test yeah then they come back two years later and then go Nathan you think you beat the CAC now and go I go actually yeah I know no more the demos and I can beat it and they trust me so much the second time they come back because they know I said no yeah and declined money two years ago so no it's very very critical Nathan thank you very much Joran thanks Rob me I appreciate it you

Nathan discusses his book, titled 'Capitalist', mentioning its content (screenshots, tax returns, negotiation tactics), his publisher's opinion of it, and contrasting its 'timely' nature with 'timeless' books.

► Watch this excerpt @ 34:02