955 Gary Vaynerchuk on Mindset, Family and The Future of Business

This is episode number 955 with the one and only Gary Vaynerchuk. Welcome to the School of Greatness. My name is Lewis Howes, a former pro athlete turned lifestyle entrepreneur. And each week we bring you an inspiring person or message to help you discover how to unlock your inner greatness. Thanks for spending some time with me today. Now let the class begin. I've got a few quotes for you today. Steve Jobs said, I'm convinced that about half of what separates successful entrepreneurs from the non successful ones is pure perseverance. Peter Drucker said, Entrepreneurship is neither a science nor an art. It's a practice. And Dr. Martin Luther King Jr. Said, if you can't fly, then run. If you can't run, then walk. If you can't walk, then crawl. But whatever you do, you have to keep moving forward. I'm so excited about this interview with my friend Gary Vaynerchuk, who I've known for over a decade now. And I've seen Gary transform multiple times over and over, reach incredible success, but also go through multiple failures day in, day out, year in, year out, and continue to grow. with both of them and continue to take the punches, continue to put out consistent content, whether it be books or social media content or audio or video, continue to launch new businesses and continue to make an impact. And if you don't know who Gary is, he is the chairman of VaynerX, a modern day media and communications holding company, and the active CEO of VaynerMedia, a full service advertising agency servicing Fortune 100 clients across the company's four locations. And after growing his family business through what Gary calls underpriced attention, including the impact of content, e-commerce, email marketing and Google AdWords, Gary began his own journey of producing original business content as the voice of entrepreneurship online. And today, Gary has more than 12 million combined followers on social media, producing content daily on places like Instagram, YouTube, Facebook, Twitter, LinkedIn, Snapchat, Spotify and more. And in this episode, we talk about the all in challenge and what motivated Gary to collaborate on this cause that has already raised over $41 million during this time. The importance of direct to consumer businesses, especially in this time of isolation. Gary talks about his favorite thing about being a father and what his father taught him about being a better father to his kids. How to balance family, health and business when you're an all out entrepreneur. Also what it was like when his business partner and his brother AJ stepped down from his current business. This was a big one. And how to overcome self-doubt, the keys that's worked for him and what advice he would give to you to overcoming self-doubt and the need for other people's opinion. That and so much more on this incredible catch up with my good friend Gary Vaynerchuk. And at any point while you're listening to this, make sure to just text a friend this link, lewishowes.com/955 or just copy and paste the link on Apple Podcast or Spotify and share it with a friend. And if you're really getting value out of this. Make sure to screenshot this while you're listening, post it on your Instagram story and tag me, Lewis Howes and tag Gary Vee to let them know that you enjoyed this episode. There's some powerful stuff and I want to make sure you get through to the very end. All right, my friends, I'm so excited about this. Get ready. Dive in with the one and only Gary Vaynerchuk. The School of Greatness is proudly sponsored by Amica Insurance. As Amica says, empathy is our best policy. That's why they'll go above and beyond to tailor your insurance coverage to best fit your needs. Whether you're on the road, at home, or traveling along life's journey, their friendly and knowledgeable representatives will work with you to ensure you have the right coverage in place. Amica will provide you with peace of mind. Go to amica.com and get a quote today.

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All rights reserved. Father's Day is coming up, and for lots of dads out there, dad doesn't quite cover it. They're groundskeepers, patio whisperers, and rogue leaf vigilantes too. So this year, show dad some love with gifts from the Home Depot. They've got fast free delivery on handy gear that helps dad do his thing. We're talking Ryobi cordless outdoor tools like the Ryobi 40 volt expanded string trimmer. Find the perfect Father's Day gift at the Home Depot. Shop in store and online at homedepot.com, free delivery subject to availability. Welcome back everyone. The School of Greatness podcast. I've got my man Gary Vee in the house. Gary, good to see you brother.

Good to see you man. You're looking good.

You know the thing that I appreciate it, you're looking lean yourself. The thing I appreciate about you the most that most people don't know about is I've known you since 2009 and what people don't know is that I am the all-time thumb wrestling champion of the world. And there's proof somewhere, someone has a video clip of me holding it for three seconds. You know, it was a two and a half count.

Everybody that is watching or listening to this knows you're an incredible physical specimen. You know, it is just the truth. You're a God amongst men, my friend.

But the thing I appreciate and love about you the most, Gary, is I've known you for 11 years, I believe, 2009, maybe it's 2008, but I think it was 2009, January, I believe it was at Affiliate Summit when I first met you. I think it was January 2009 in New York City. And I've gotten to see you behind the scenes over the years at different events. And, you know, I've driven you in a car from one of your book events early on and like a beat up car. You know, we just had moments here and there at different settings. The thing I appreciate about you is how giving you are of your time, your energy, your resources, your wisdom, your money. You know, you've been donating to Pencil the Promise for years. I see you at the gala all the time. You're giving your time and energy and money. I think it's the thing that a lot of people don't see about you enough is how giving you are and you're especially involved in the the all-in challenge right now. I think you guys have raised like 40 or $50 million already.

Yep.

And I know how much time behind the scenes it's taking for you to coordinate work with Ruben and just like put this together and call in favors like there's so much giving you do. So I just want to say thanks for all the.

I appreciate that. Look, I think, you know, I think it's really funny, right? Because I'm very much, you know, willing to self-promote myself. I'm willing to promote my businesses. But you know this about me because we have been friends for a long time. Like, I'm a little bit more quiet about the best version of me. Right. And, and I, I'm okay with that because I think, you know, we're all affected by things. I think I was affected as I was coming up the game of realizing, wait, people use charity or other things for their own self-interests like they're positioning themselves. And, you know, and by the way, I, I definitely don't begrudge people promoting their philanthropic kind of Ventures either. I think we're all wired differently, but I, that's very nice for you to say, and, and I appreciate it, of course.

And I think there's, like, I've tried to learn, like, how do you balance, like, self-promotion versus, like, promoting something that's a good cause that people need to be aware about and for them to promote, to donate. Also, it's like a balance of what to talk about, what not to talk about. So I think you've done an amazing job of that, and People need to know more about that. Can you share quickly about All In for people that can get involved?

Yes.

What it is of those who haven't seen it from every celebrity yet.

So Michael Rubin, the founder of Fanatics, came up with this idea, the All In Challenge, allinchallenge.com, he was sitting around like everybody else, wanted to give back, called his buddy Alan Tisch, called me, we started hacking at it, and the idea evolved into the greatest experiences from people in culture, music, film, you know, television sport, of course. It's gotten into some experiences. We've got some-- and it's basically auctions and sweepstakes for people. You know, Tom Brady's flying somebody out to Tampa for the first game, and they're sitting, you know, 50-yard line. They're getting on the field beforehand. And then he's going to dinner with them and giving them the first jersey he wears in the cleats from his first Tampa game. That's crazy. You know, that auctioned off, I think that went for almost a million bucks. Then there's raffle tickets for $10. Somebody is going to be somebody actually won for $10 the ability to have a speaking role in Leonardo DiCaprio, Martin Scorsese's film. So there's just all sorts of crazy stuff. If you go to allinchallenge.com, unlimited $10 raffle tickets for Bieber to come and sing at your house, like just crazy, crazy stuff. And it's completely popped off for the last month, over $40 million raised at this point. We're super proud of it. You're right, it has been 15-hour days while still trying to navigate VaynerMedia and VaynerX, while also losing all my income from speaking, which is really kind of what allows me to invest in my own business.

That's your money, yeah.

Yeah, that's the place where I make revenue that allows me to kind of invest in top-line growth for Vayner, not worry about profit as much, or make investments, or try new ventures.

Take risks and try it, yeah.

A hundred thousand, be nice and do nice things. So it's definitely been a very intriguing eight weeks. I asked a bunch of people about.

An hour ago on my Instagram live. I said, what's a question? Because you're doing, you know, Tea with Gary V every day. You're giving so much content right now, which is amazing and helping so many people. And I said, what's a question that you haven't seen Gary talk about? And you've seen a million posts a day from Gary, share a lot of incredible stuff. Is there a question? that he hasn't answered yet. And I wanted to ask my audience this. So I want to get to that in a second. Okay. Before I do, I posted, I saw a stat out there about a bunch of different companies that launched from 2008 to 2010. Right around the time I met you when I was on my sister's couch and I had no money and I was like, what's happening? It's kind of a similar feeling of the economy. Yeah, yeah, yeah. And some of the startups that founded back then, Uber, Airbnb, Slack, Pinterest, WhatsApp, Square, Venmo, which you're an investor in. and they have blown up in the last decade. I'm curious, what are the ideas or businesses that should be created today moving forward that in 10 years we'll be looking back at the next, you know, crisis and say, this is the companies that were started in 2020. What are those industries? What are those topics? What do you think?

Practical direct to consumer brands, you know, ones that are like, DTC for brands is an incredible business over funding and trying to go public or sell to somebody is why a lot of them are going to go out of business. I think that you're going to see some really fascinating innovations. I've been thinking a ton about co-working, obviously we had WeWork and obviously they have their challenges for overvaluations and over, but I do think business as usual, I mean, geez, talk about, I've been thinking about things like, for just small entrepreneurs, Create a business about renovating home offices to be epic because the amount of people that are going to work one to two times a week from home is going to be so just like, think about if you're a carpenter, right? Like you just brought up all the, you know, billion dollar things. And honestly, those, there's never a bad time to start a great business. And the Travis's and the, all the other people that you, the companies you just mentioned, those, those are individuals that had that talent. The reality is that's the 1% of the 1% of the 1% of the 1%. the reality is you and I have audiences that listen to, will listen to this and watch this, that are really great entrepreneurs that are destined to build $500,000 a year businesses. If you're a general contractor or a handy man or woman, positioning yourself as a home office specialist right now, I couldn't even imagine. You probably could go from being a $35,000 to $50,000 a year person with one or two projects to like a million dollar person because that is clearly coming. So that's on my mind. You know, little things like I saw AJ bought for our entire family some sort of like keychain ring that helps you, you know, ring doorbells and put keys into like, like, like I do think, you know, like people are about to be germaphobed out in perpetuity similar to similar to 9/11 I, you know, which sucks for me because I'm a very other way like, like hug, kiss, like, You know, globber on someone's- Globber, yeah, I'm very like, you know, like don't wipe down anything when I get on a plane, like- Let's share drinks and eat hot dogs together. No, honestly, eat off people's food. Like, I'm a little bit worried that I'm about to be shunned from society. But I think cleanse, clean, safe, those are gonna be great. I mean, talk, create, somebody should create a high-end hand sanitizer business. That's true, that's true. You know, so I think there'll be some trends. And then back to the point I made, A good business is always a good business. For example, opening a restaurant immediately after this sounds insane except if you're opening up a great restaurant. Yeah, you know it's interesting, I'm in.

LA near Beverly Hills and I'll drive down this side street with Sprinkles Cupcakes. I don't know if you've heard of it. Of course, I know it well. Amazing. Well, all these restaurants are shut down or they're doing their own version of delivery or whatever it may be. Sprinkles Cupcakes had an ATM machine four years ago, five years ago before its time, where you can go at any time of the day and get a cupcake out of the ATM machine fresh made that day. I tell you, I kid you not, there's a line down the street in Little Santa Monica of people at Sprinkles all day long just getting out of this ATM machine. And people are in there all night working because they can't supply the demand fast enough. So something innovative like that.

Listen, listen, my dad a year ago said, Hey, you're helping all these companies. What about helping old dad out? and I launched Wine Text, which I've been promoting very heavily. And it's an innovation, you know, it's, you get a text, you reply with a number, anybody who's listening that's into wine, if you really buy wine on the internet, you have to go check out winetext.com, you sign up, you put your credit card in, it takes two minutes, and then you get a text every day and you reply with 4-5-2-1-12, and it's like, Brandon hired nine people today for Wine Library because, you know, obviously alcohol Sales are exploding. But on top of that, this is above and beyond because the innovation is so strong.

What is the direct result from you guys implementing that for this new kind of business for Wine Library? How is that going?

It is going to... I'll tell you exactly. I don't have the exact math. I actually have a P&L meeting tomorrow. Roughly, it's going to grow the business by 30 to 40% percent from last year.

Just one initiative.

One initiative. Wow.

And that's a, do you guys use community for that?

You know what we don't because the way we structured it, community wasn't far enough along. Obviously, I'm an advisor and use community for my personal brand. We built a middleware between our platform and broadband.com and it's like it was custom built with our dev team at Wine Library, but it's just working and innovation. And by the way, let's call it Spade to Spade, Viner Wine Library, excuse me. has been declining for a decade because I'm not there. And then one idea is going down.

5, 10% a year or whatever. And now, boom, let's get back to where it was 10 years ago.

I think there's a chance next year, if this keeps going the way it's going, we'll be at heights we've never been. One idea, one execution. And what is it? It was my observation 18 months ago that people are willing to get marketed to on text more in America than they were five years ago.

It's brilliant. Now, you have been teaching this for years about shifting your perspective, shifting your mindset, having self-awareness. You've been teaching this for years and people don't listen when times are good. They stay stuck in their mindset or their fears. I'm afraid to launch this, put this out there. How do people shift their mindset even in a horrible time for most people when they can't even do it during a great time?

Easy. My stuff does better during bad times. Crush it.

They have to. Right.

You and I hung out during the Crush It! book signing. That's when you drove me. Crush It! hit a nerve because people needed it.

2009, right? Right.

And that's when hustle was good. And then hustle during good times becomes manipulated into burnout. But I promise you right now, I don't use hustle anymore because I understand how the word got mutated into leading to anxiety. And so I don't want that. So I changed it. Even in Crush It! talk about nine to five, making 40, 000 a year, being happy. But, but I promise you, hard work is about to be put on a pedestal again. Huge pedestal.

I'm always at 20, 30 million people unemployed. Like, people are gonna be grateful just to have an opportunity.

That's right.

I don't think people, I think people.

Are still in a little bit of a shock slash fake environment. If we get back to normal in September, I'm just gonna be, and I know that we won't be back to normal. Let's just talk about January. If, God willing, we're back to real kind of normal in January, I think by February, by Valentine's Day, people are gonna walk around and be like, oh, wait a minute, there's some real lasting ramifications. Big time.

Big time.

I can't get a raise. I can't get a job.

I mean, I'm just hearing people who are in key positions are getting 20, 30% cuts, even if they are the key player and they're irreplaceable. It's kind of like this.

I said, Gary's like, somebody said to me, Gary, that's not fair. I'm like, let me give you an analogy. you are in a forest, a tree falls on you and it's on your leg and you sleep there for a day and you're in big trouble. And a ranger comes along and tries to help you and she says to you, listen, you're gonna have to cut off your leg. To live, you're cutting off your leg. We don't, business owners and, you know, funds and banks, they don't want to, and companies, they don't want to lay these people off. They're their legs. They love them. if everything was okay, they wouldn't have. They don't want to ask all their executives to take a 30% decrease, but that's cutting off your leg.

Otherwise, you die.

People are just so funny with this kind of like ideology, like, okay, or.

The business goes out of business. Yeah, we have no money. What's been your biggest fear in all of this, or do you feel like you're pretty fear-proof at this moment with.

Everything you've been through? I'm fear-proof because I'm willing to go to zero. Yeah.

You can live on at a small apartment and, you know, live at your parents house.

I really can, man. Yeah. I don't want to say, like, this has proven it to me even more. You know, any 0.0001% of me that thought, while I've been saying this for the last two years, am I full of has completely gone away. Yeah. Like, I just. I don't fear because I don't value things and money. I. My biggest fear is my. Parents getting sick. Like my biggest fear is like somebody getting sick and dying, nothing else. Like business, I can always like, I'm too capable, right? Like, you know, back to back to the thing you brought up, back to why you were an Olympian, back to like, why you beat me everything, anything when we were on Summit at Sea, think about whatever basketball, you aren't worried when it comes to sport, You know, your mind just goes into, this is gonna be a good situation for me.

Yeah. And for me, it's comfortable.

Yeah, and for me, that's business. Like I know for fact that if I became a 100% full-time garage sale, thrift store, Amazon Flipper, that I'd make a million dollars a year. I know that for fact. So what the hell am I? And that doesn't take into account that I built a brand. And sure, my brand would take a hit if all my businesses went to zero. But the reality is America's funny, man. Like there's people following and helping OJ Simpson. There's, you know, Wolf of Wall Street, like, like this is a country that gives second, third, fourth chances regardless. And so like, I'm already at a place right now where between brand and capability and humility, I'm bulletproof. I believe that.

This is a question from one of my audience members that asked me his name is Chris Turcott. His name is Chris. Oh, I know Chris Turcot, I think his last name. He said, He doesn't hear you talk about this much. Favorite thing about being a father?

That all the good things that I'm doing for the world with my advice and my wisdom, I get to actually do for a human that's going to get the purest execution of it, deepest execution of it, and I get to watch it from coast to coast. And so, and just like that, and just like pure love, right? Like my daughter got a 53 out of a 50 on a Spanish test. So we went to get the, you know, check in on the school stuff. Like I'm bringing it up right now. The pride was like, and remember me, right? Like fuck school, like that's her game and it works for her. And I just sat there and I was like, yeah, I was, you know, like every parent that's listening that right now knows, they're blown away by the pride that comes along with a child. And then just really knowing that I also have my own self-esteem. So one of my favorite parts is knowing that I'm not going to f*** it up from making them do things. Like if my kids are, if they start nonprofits and give away all of the family's money, I'm going to be proud of them as long as they're happy.

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I don't need them to be an entrepreneur. I almost don't want my kids to be entrepreneurs because I don't want them to have to live in the shadow or try to climb the mountain I'm creating now.

The pressure, the pressure of like, moving up to dad, yeah.

I mean, Lewis, you know, we're young. My little guy is turning eight in August. In 10 years, he's 18. You and I hang out with 18-year-olds in business. How old are you right now?

37.

You're gonna be 47, slightly older than I am right now. And you're gonna know Xander for real.

Right, I'm gonna be like working with him.

Exactly. And then if, you know, if the way the chemicals played out, if he's not of my entrepreneurial cloth, that's gonna run through your mind just like it does with me with other, I mean, I've met a lot of famous people, accomplished people's kids. And I don't even like judgment and don't even think about it. But I'd be lying if I didn't say after you have a meeting with somebody, you're like, oh, okay, that's how they're different than their mom or their dad, right? It's so cliche. And so like, I want them to be happy. And if by the way, if they do what I do, which is I looked at my dad and by the way, coming from zero and looking what my dad built, you know, in our little Russian community, that was a big deal. And I wanted to climb that mountain. And if my kids look at my bigger mountain and say, I'm going to climb that mountain, I'm going to cheer them on slash not big the outcome. They're not getting a 50 million dollar check. They're not getting a five million dollar check for me. They're gonna, they're gonna get the relationship graph, which already gives them a huge upload because Uncle Louis is gonna give them 100, 000 for their. But, you know, I, listen, there's no way to completely create fake environments unless they want to do the John Travolta, you know, Nicholas Cage face rip thing and change your name. So, but I, I definitely think that the best part is just building it, just like a business. Yeah. Building that relationship, but. Building it with hands off instead of building it with hands on, I think parents build too much with hands on.

Would you want your kids to repeat your same insane amount of work ethic?

If that makes them as happy as it makes me. Yeah. And I want them to, what I.

Expect it from them though.

No, I don't expect it from anybody, to be frank. I think I'm really in rarefied air of like deep obsession with my process and enjoyment and lack of anxiety from it and lack of burnout from it. I think I hit my crescendo. I think I'm more of an artist. I don't think people realize that business women and men are actually, there's a certain version of us that are artists that genuinely like this more than anything. Like, like we like singing, like Beyonce is a workaholic. Yeah. You know, like Kobe was a workaholic.

Obsessing over their craft, their art form, their expression.

So for me, like, like we demonize it. in entrepreneurship and corporate life, but we don't in art. We put artists, we put, oh, he's in the studio all the time. Wow. You know, painting all the time. Wow. Cooking and traveling the world to buy food. Wow. Business, oh, he's gonna burn out.

He's gonna suicidal. Why is that? Is that just because of the old way of thinking, like getting burned out.

In the corporate world of doing a job you hate? Yeah, money, money. You know, I don't think people, like Mark Texiera, made $213 million playing baseball. But if some entrepreneur makes 30 million, they get demonized. It's just culture. It's just culture. And it's okay. Like, I don't think that's wrong, right or indifferent. It's just the obvious observation, right? We demonize the startup founder or the business woman much, much more than the entertainer that makes way more money.

What was the greatest lesson that you talk about your parents a lot, which I think is amazing, that you constantly speak about them as your mentors and heroes. Even now, it's not like you said it in a few years, you say it every day or week or whatever.

Because it's true.

What is the greatest lessons that they taught you about you being who you are now, which I already know the answer, but I want everyone else to hear. And what is the thing you wish they would have taught you that you teach to your kids a little bit differently?

Very good. I do think my parents, for me, and they parented all three kids a little bit differently, but they were such workaholics. Both my mom, my mom was a stay-at-home mom, but like, did everything. Like, you know, like, like, you know, and I think people very much underestimate stay-at-home moms as workaholics. Like, she just worked her face off. No help.

No breaks.

No breaks. We were all spoiled kids from the fact of laundry and doing our bed. And she cooked everything. And, like. And then my dad came home late because. And cooked for it. Like, she worked her face off, so they could have created a little more balance. We only took two family vacations, so. They taught me work ethic, kindness, everything. Everything I am is them. But I do think the thing that we have more is balanced with, you know, leisure and, and offsetting 24/7 work. But they, that makes sense. It's generational. They came here with nothing, and it was 24/7 work. And I have so much of that in me. But i've had the luxury of my talents leading to a success that's allowed me to post, you know, listen, that's how my first 10 years professionally looked, too. But now being able to take a little bit of time and so maybe a little balance because I think they regret that. And, and so you try to take your parents regrets and not have the same. And so I look at that.

That's cool.

But kindness, kindness, my mom instilled kindness, like, you know, some of the stuff you started this show with and they both instilled work ethic and my dad, my dad, you know, just genuinely like, just willed his way into success. And I think I have a lot of that as well.

Yeah. Now, over the years, people have seen you daily vlog for years and just post about your entire life. And I think we did an episode three or four years ago together. I think you've been on a few times now. And we talked about the idea of balance from like business to family. And I remember people being in awe of the response you had around this at that season of your life. I'm curious now, how do you find the balance between being a great husband, between being a great father, having great health, and building a great empire? And what do you feel like you could improve more in at this season of life?

You know, I think back to extremism, right? Like the extreme, which I use, you know, all of it can be better and all of it is just great. I think, you know, here's a good place to go with this. Let's really bring value. So, you can go back, you know, four years ago and listen to like how I think about extremism going hard and then vacationing hard and it's all there. I think what this has evolved into is something a little bit deeper and more important that I hope really brings somebody value right now, which is stop beating yourself up and stop judging yourself. We all go through chapters, right? Like sometimes you're super in love with your partner and like that's all you can obsess about, you know, it feels like that's you've been through that chapter recently. Like other times your you know, super into your profession because you got a new initiative and you got to go, it's another baby. Sometimes it's an actual baby. And by the way, for some people, the first two years are actually super boring because the baby does nothing. And it's okay to not be like blown away and spending every second on the flip side. If you just can't believe this little miracle and you need to like cut, work out, like I think this comes down to judgment. Stop beating yourself up. There is not even a close framework for what's right. Everyone's balance is massively individual and more importantly, balance ebbs and flows forever. For example, my kids are starting to get into, I'm like, oh, they're going to be teenagers one day. Like, if they double their age, you know, all of a sudden they're 20 and 16. And I'm like, what? Like, you know, like, and immediately I go to things like, oh, they can go on business trips with me. Wait a minute. They're going to just take an Uber and I'm going to sit courtside with my little guy and my daughter, because she's really into basketball as well. Like, often, like, I'm going to see them two nights a week. Oh, That means my Nick court sides are going to convert from business to 50% personal, which is going to mean those, you know, now all of a sudden it's Tuesday and Wednesday, you know, like technology, like FaceTime culture. I've exploded my FaceTime international interaction with them. And so like those kind of things.

Yeah. How does Gary eliminate self-doubt and self-sabotage when it seems like there's so many wins that you hit? But also people don't see all the big losses that you have as well and the risks in the.

Yeah, I've, I've loved myself the whole time. Thank God. Most don't. Uh, but I haven't allowed me to get high on my own supply. My humility is my great offset to my confidence. And I think that manifests. And I think one of the things you were saying when you were saying it, I knew what you were saying, which is you have the luxury of seeing really behind the scenes truly. Yeah. And I think what you know is forget about like giving to a nonprofit. It's just the genuine kindness of replying to somebody's request or doing something for somebody with no ask, no expectation and nobody knows. And you know this because you run in entrepreneurial circles like I do. And you know when you stumble on somebody who knows me as well, they're going to bring up something that I did that was nice and nobody knows about it. And that is only one thing that is called humility. That is not reading your press clippings. Right. That is not thinking you're somebody. And I think I have deep love for myself, which leads to huge confidence, but I'm practical. So I don't try to overextend myself, which should keep me away from being losses, but there is no doubt. Like I think things through and if I lose, I lost, but I'm never doing anything for any other reason than I think it's right. And that leads me to a place where I'm not very vulnerable because when you start doing things to impress the girl or to or to keep up with the Joneses, or you're jealous of somebody else's success and you want to close the gap on their net worth on their Google search or all the dumb shit that people are like thinking about, you become vulnerable. I mean, so many people are overexposed. I mean, listen, there's some big personalities that are going to get smoked out over the next 12 months that like.

Have played the part on Instagram, they're going to lose. They just are. I also think if you're focused on like chasing the money game of competing against someone financially, Oh, and you make the wrong decisions, then you start to take things personally, get defensive, get angry at people that aren't making money or whatever. It just everything becomes tack. So if you lost a, if you, let's hypothetically say you lost a million dollar bet on a business or investment.

Or whatever, and I've got, I've got.

One that's gonna happen soon. So go ahead.

And it went to zero.

It's going to. How do you tell yourself, I still love myself. This doesn't, you know, affect myself.

Because I knew the vulnerability was other people. I did the most I can. I was stretching. in more than I wanted to be, which didn't allow me to really fix it along the way. I just didn't have too many plates in the air. And I focused my energy on things that are so fruitful that are going to offset that million loss. It's an L. I don't want it, but it's real.

Jeff Wow. I think also, do you go into the mindset of knowing like this could be 100 million or it could be zero and you're okay if it's zero.

Or do you still... Jeff I go into everything thinking it's going to be zero. Jeff Really? Yeah, it really makes it, why do you think, notice, does that make sense? Now all of a sudden, I go in with no hope, no expectation, no expectation. I don't do it for my kicks and the giggles. I think it's gonna work. If I'm running it, it's gonna work because that's what I'm good at. But almost everything I don't run. I don't run PureWow 137, Harwood does. I don't run VaynerSports, AJ does. I don't run, Vayner Speaker, Zach Nadler does. I'm impacting the living shit out of those businesses.

You're influencing them, yeah.

Oh, in a real way. But push comes to shove, I don't make those decisions. And I support my partners in crime. And so that's kind of how it is.

Yeah. I think you start, when did you start Vayner Media? Was it 2010? 2011?

2009.

So I was in the office, I think it was Soho, and there was like six people in there and a ping pong table.

Yeah, Sunshine Suites.

And I remember at one point it must have been 2011 or 12.

That's right.

When you said somewhere in an interview, maybe it was with me or somewhere, a speech, you said, you know what? We were okay as an agency the first couple of years. Like we actually were like not that good. I think you even said like, we were okay. We weren't great. But now we're really like we're great after three, four, five years of in the business. What would you feel like is the thing that you regret the most over the last decade or one of the hardest challenges within the agency that you had to face? Maybe that's two questions there.

No, there's several things there. One, the biggest challenge I had to face was about year six, seven, six. I was creating entitlement because I was putting too much on my own shoulders.

What do you mean by entitlement?

I was making it too easy for everybody and people got entitled.

Within the company?

Yep.

She was saying, I'll take this on, I'll take this on.

In the macro, I was creating so much top line revenue and everybody was getting raises like crazy and I was creating such a great culture that I made us soft.

Which is wild. Because you were doing the sales and the pitching and everything yourself.

I was impacting so much that 300, 400, 500 people had it too easy and we had to do like a 35 person layoff because I just got Cut the fat because I just, and I didn't need to do it financially. I needed to do it to just culturally get everybody understand like these people that were just like, oh, weren't good at their job. They were nice people. But if we keep carrying this, this will die.

They weren't great at their job.

They weren't even close. It was nice people over everything and that was it. If you weren't nice, you were getting fired. But if you were nice, Like it was, and it was, that was tough. And it was tough for me to realize, wow, on Tea with Gary Vee, on Keynotes and interviews on the stage, I have great candor and accountability, but in my own shop, I wasn't candid enough and I created entitlement because I love happiness and la la and yeah, yeah, yeah, and all that.

And everyone loving you.

But I went too far with it. So that was tough. That was a moment because I never got to that level with wine library because it was still happening there, but it was a small enough business and a family business and it was real family cousins and best friends that had a different dynamic. So I didn't see it coming. So that was interesting. AJ leaving was tough.

I was gonna say that was, that's what I thought you'd say there.

Yeah. That was a big blow. I didn't see it coming.

You guys built this together. This was 50-50. This was, we're gonna grow this as a empire with a family.

Yep, yep, and like being with my bro and all that. And so that was rough. He left for anybody who doesn't know because he has Crohn's disease and he just wasn't feeling great, to be frank. He just didn't like the business enough. Clients are shitty, client service business suck. And he just said, I don't feel well. And so that was rough. And that whole process was rough, like buying him out. And like, you know, we were 50-50, but I, you know, what I love about my brother is I'm sure if he sat here, he would say that wasn't how it played out. We didn't know how it was going to play out. So, those are dynamics of like, you know, like, that was rough. That's just real talk, you know, but like, we're obviously in an incredible place, thank God, because we genuinely love each other more than money. But it's still, you know, you have your true, it's not even egos. You have your own merit, you know, radars that kind of feel like, what is the situation? So unwinding that is always tricky. I'm so grateful that we're in such a great place with each other. And we, by the way, For the record, we were never in a tough spot. Me and my dad were in tough spots all the time because of the two cooks in the kitchen. Me and AJ like really figured it out and we really leaned into each other. So that was good, but that was challenging. This two months has been really challenging because, you know, I structured for economy break, but not one that was the whole world had liquidation issues and speaking went to zero. And, you know, like, Just a lot of things that, you know, production, which is a big part of us went to zero, you know, and clients aren't paying like, you know, so it was like, you know, I was super prepared for 2008. I was not prepared for something that looked like this. We got lucky and I hate using that word, but this is the truth. If Hilton and JetBlue and Morton Steakhouse were my biggest clients, we would be in real trouble. Like luckily for us, food and like the serendipity of like, financial services, food, beverage, being our biggest clients is going to let us get through this in a good way when it's all said and done. But we could have gotten, like, honestly, I sit here and say, my God, if Marriott, Hilton, if American Airlines, if, yeah, I'm trying to think of other people, clothing, if Neiman Marcus, you know, retail, like, if our product, if our client mix was different, this would have been maybe it.

Really?

Really, I mean, if you go, if all your clients go to zero and you're in client services, you're not selling wine, you're not selling, you know, subscription business. You know, if you, there are agencies that have gone out of business because of this, because, because, you know, yes, I mean, you know, nobody could ever think of zero, zero. But, but by the way, I've always thought about war. This is the closest thing to war. I've always thought about like, what if World War III happens? But what my mind would always go is like, well, you don't care about business, then you're actually genuinely scared of a bomb or dying or whatever it is. So, This is like war without war, real life. Now, what's really cool about that is that that happened. Let's say Hilton and American Airlines and Chuck E. Cheese, I'm trying to think of a million different things and sports. What about that? The Jets and the NBA, all these, the serendipity that's like, we just got the perfect wrong hand, 3-7 off suit. I would have been super, I'd be doing this video and be like, that's what happened. And I couldn't see it coming and I deserved to lose. Like literally that would be like my reaction to it.

Yeah, and you'd almost be excited to start from... You always talk about... I wish something happened so I could build it back up again. How much has your business been affected? Have you lost, you know, 10% or.

20% or... We've lost 10% or maybe we're definitely 12% down in like top-line revenue expectations. We've had... I still don't think this is over. I think there's gonna be a relapse and that would trigger things. We pay liquidity more than revenue. People are stretching terms. They don't have the money. Like there's, you know, that's what are you doing? And I'm paying my employees. Yeah. And I'm paying rent.

Exactly. That's tricky, man. You got to get a Higgins to give you a little break on that rental.

Yeah. The problem is, even Ross, like he has partners and banks and it's crazy. It doesn't work that way. And so, and by the way, my business is too big for the little bailouts. and too small for the big bailouts. So I'm in that perfect middle, plus 50 to $300 million businesses are the ones that are gonna go out of business.

What are you doing personally to supplement the speaking fees?

Nothing.

Nothing. Are you innovating anything to launch or.

Create or... No, I'm massively tripling down on empathy is doing really well. Empathy wines doing well. So my wine business, and my dad gets all the income for the family business. So that's, I'm doing wine texts because I love them and it's fun, but that's not hitting my pocket. And I'm focused on VaynerMedia. I gotta make sure VaynerMedia gets through this properly because when it does, it'll be two times bigger because we're built for this kind of world.

So this is, this is why savings matter. It's so important why savings matter. It's something I remember in 2008 when I was on my sister's couch. I remember saying to myself, Never again do I want to feel broke like I need to go back to my sister's couch. Like, hopefully there's enough time where I can be smart enough to not buy... I wear the same $20 shirt probably like you every day. I'm not out buying stuff. Like, I like to feel good but I don't need to buy fancy things. I'd rather have money or investments or.

Something that I could use for a time like this. Yeah, but a lot of, you know, most of my net worth is tied.

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So, you know, investments is fine, but like, the one thing that made me feel good from day one is I have a certain amount of money in the bank that like, that is just to me like, do not touch and like, I feel I can live on. And again, if everything went to zero, that's not the case and that's why I'm focused on this, but if everything went to zero, I would start looking at that and like literally sell homes and like, rented a little apartment and use that capital to start my flipping empire. Because that's what I would do on the record. If that ever happens, I'm going to buy and sell shit because that's my core basic skill set that is liquid on the transaction. I mean, I mean, you know this, like I've been yelling for a year and a half about sports cards. They've gone through the roof. I know.

I feel pissed that I didn't get any MJ cards after this. You told me a year ago, you're like, get LeBron, give Jordan, get all this. and now it's going up because of this stuff. I'm curious. Really?

Jordan working cards went from 20 to 100,000. It's crazy, man. Like everyone's like getting into startups. I was like, I put my, you know, like, like Bron bronookies I bought for 1100 or 7,000. Oh, man.

And when you buy 55 of them, that's money. Oh, that's money. I'm curious. We talked about how you overcome self-doubt. How would you inspire other peoples or.

Educate them on how to eliminate self-doubt in their life? It's completely predicated on valuing other people's opinions. If you actually make pretend nobody else lives on earth, nothing is scary.

Why is the opinions of others such a heavy thing for people to overcome?

I think it's humanly, like this is where I think like, this is truly my great gift. I'm so grateful for it. I think people got caught. I think they just get caught that everybody's in this framework of other people's opinions, like just It's how we're raised.

How do we train ourselves to get out of it? If it's something for 10, 20, 30.

Years, 50 years, we've been living that way. The same way I trained at 38 and a half that I have no way taking care of my health. I don't like eating habits. I don't like exercising and just pounding, pounding, pounding, pounding, pounding every day. Everybody should. This is why I put out so much content. Maybe today's the day that I say it a different way that makes people realize their mom and their girlfriend and their boyfriend and their uncle and definitely anonymous people on social media media and Lewis and Gary's opinions actually don't matter. Wow, the liberation to then actually do shit. And now you're doing shit full throttle because of whether you win or lose, it doesn't matter. You can't hear the cheering. This is why I'm trying to get people out of hearing the cheering. It's my newest thing in the last year or two. I'm like, wait a minute, right? Because everybody says you're so hot on Instagram that when they say you're not, you start doing plastic surgery, right? When everybody says like, you're such a great business person, you start keeping up that facade instead of like, it just makes so much sense. So to me, the biggest thing is the humility was such a factor. I didn't realize how big of a deal that was, how much that worked for me is like, I don't believe I'm as great as I know I am. Like my logical side knows that I'm up to something, but I just don't internalize it. I won't let it penetrate my soul. I think I have the ability to be the biggest deal. but I will never believe it. That's powerful.

Yeah, I think, you know, even I've.

Never said it that way. Like, I even like, thank you. I was like, literally when you, I gotta clip that for Instagram. Like, you know, like, like, that's what it is, man. I really genuinely think, and you know this about me, like, I think I can be the guy. Like, I think Bezos and Zuck and Elon will make so much wealth during this time, but I think the way I'm going about it, I think I can be that entrepreneur's entrepreneur. when it's all said and done in the end. And I think even if you look at what's happened with me, you've been along for the ride. Like over the last two or three years, I can feel I know because I'm a branding guy. Like the brand is in a different place. It is. I've separated a little bit.

You know what I mean?

Yeah, you have. And I'm like, okay, well, I'm 44.

And I'm like, fucking, you know what I mean? I love the stories of like Colonel Sanders at 50 launching KFC. It's like, they take off at 50.

It's like you're just getting started. Sidney Frank started Grey Goose in his eighties. You haven't even got started yet. This is the preseason. I really believe that. I think it's the preseason. By the way, I think I said something similar to you on a personal note not too long ago. Cause I remember thinking like watching you from afar, like the ebbs and flows, like, you know, a lot of times, I was on an interview the other day and I, somebody said, Gary V, you did a really, really good job. You know, you were super early on podcast, you know, saying all this stuff. I said, stop on podcasting. 'Cause my homie Lewis and, you know, and some of these other characters, Jordan and, you know, all these are to charm, right? And Pat Flynn and others, Dumas, right? Like others, I'm like, they were a little earlier. Ferris, like they were earlier. I'm like, I did, I've done a fine job. And so I think about you 'cause we're friends and I'm like, okay, he really wanted, like podcasting was that thing that took you to the next place, you know? And obviously I made the nice reference earlier, like I love seeing you being in your relationship life. You're putting that out there a little bit. And now I'm like, okay, you know, you know, just fun to think like, I wonder what if, what if, what is it gonna be? Or is he, like, where is he in his life? Like, is he gonna have another chapter? And that's what's fun about this, right? Like, when I think back to like early, you know, Twitter, like Chris Brogan, right? Right?

It was big Guy Kawasaki and Twitter.

Right, right. And both of them are still doing their thing. Everybody does different things though, right? Like some people, those two haven't, others completely disappeared. And the reason I'm not bringing them up is because they disappeared because they weren't good in their soul or their capabilities. And I remember thinking in oh nine, ten, eleven when I was popping for the first time, I'm such a loudmouth. I'm so much, I have so much energy. I cursed. I remember knowing, and this was absolutely true. A lot of people thought that I was going to be kind of like this phoenix of like and then disappear because it just didn't seem quote unquote. Yeah.

Yeah.

And I remember thinking, man, I remember then thinking, wait till they see in ten years where I sit. and it's happened. And I think, and I think, man, wait till people see where I'm gonna be in 10 years from today. You're just getting started.

I feel like, okay, I spent the last 10 years of foundation work. Researching, like trying stuff, making mistakes, something's working well, like figuring it out, reinventing, really trying to find my true lane. And, okay, now I can get started. Yeah. You know, it's like, all right, now let's do something cool. And let's build off of what we've dealt with the personal brand and leverage it.

Look, look, look what I did in 11. I went all in on VaynerMedia. Everybody thought I was stupid. Why didn't I raise a fund? Why didn't I start a startup? It seems super left field, but a lot of those homies in Silicon Valley.

Their startups failed and are gone now. Right.

They're too big about valuation and stock.

And now I have a marketing foundation that's a fucking supernova.

You can launch anything. Anything. You've got the engine to launch a product. Empathy Wines is a meaningfully successful direct-to-consumer.

Wine brand that John and Nate run. Crazy. Interns. Software and a couple of interns.

Yeah, but they were interns. Now they're 10 years under my watch. Now they're executives. Wow.

Ballin. What is the, you mentioned earlier, client work is shitty and agency work is shitty. It is. Why put your life's attention into a shitty business model, essentially?

Because I'm building the Death Star. I'm sure the Death Star was shitty to build for, you know, for Darth Vader and the Emperor and all that. But when it was done, it could press a button and blow up a planet. It wasn't fun for me to eat shit in the prime of my career, except here I am at 44, empathy being the first one, the rest of my life are gonna be the next ones, including Lewis for governor in California, including let's cure Crohn's disease, 'cause AJ has it, including many other things. So I'm building A death star. I'm building a Vayner and it's VaynerX now, right? It's got the publishing side. It's got a speaking bureau. It's got, it's got, you know, Tracer.tech. You should, people should check out. It's a data analytics SAS business. It's a, it's got, you know, the Sasha Group for small businesses. I'm building literal machine. Machine. That's the scalable version of who I am as a human. It's amazing. Like if Vayner Publishing would be a top book publisher if I decide Vayner Real Estate, I would be a major broker, Vayner anything in perpetuity now that I've eaten dog shit for a decade.

If you could predict, what was your prediction 10 years ago when you launched Vayner Media? Was it to be where you're at with whatever 6, 7, 800 employees and.

Kind of- It was, I did think by now I would have one brand owned and because I thought the economy would collapse earlier.

Like a shoe deal because you were to buy like some type of shoe.

For- It's why I did the case, this thing, right? It gave me a chance to test it when I realized I wasn't going to be doing that just yet. And it came in front of me and I did it and it really worked. And they sold that car. Look at Resi.

Resi had a big exit, right?

Resi is my biggest exit. I never talk about it. I co-founded it.

Wasn't that a 200 million or what was it?

Yes. 200 million. Plus. So like, I'm winning out here. Resi is kind of like the, like.

I remember Resi and being like, it came out hot and then it kind of like, you didn't hear about it for four years and then, oh, it just exited.

It was the winner. It beat Reserve and Reserve had all the Uber guys and gals behind it. We won. We, but we just built a business. It wasn't like, I'm not out here.

Worried about making shorts in the headlines every minute. Like, VaynerMedia. Why not talk about that, though?

Why not talk about, like, the thing that you launched and it was a big hit? It's just not on my mind. Plus, Ben Leventhal and Mike Montero, the CTO, deserve a lot more credit to me. I came up with the idea jointly with Ben. We, I found Mike Montero, who was a big time CTO that built the incredible product. I personally wrote a big check when the company was in trouble at one time. I did a lot of great things, but I'm a fan of the operator. They executed day and day and day. So I don't like to go out there because I think that's faking the funk a little bit, but I feel like my DNA is really in it and I feel like in comparison to a lot of other people that have a lot of wins that they claim, I have played my DNA in Resi, but that has been most, first and foremost, that's Ben's win.

So, okay, so you didn't reach that level of what you thought would happen within this decade, but it's 2020 now. Imagine 2030. What do you want to see happen by then?

I thought I was going to build like a I thought I was going to build the Millennial Falcon and buy, you know, K Swiss. What ended up happening is building the Death Star. And so when I buy Puma and then flip it 12 years later, I buy Puma at 54. 10 years from now I flip it at 64 and I buy the Jets and win six Super Bowls like this.

Has been written Louis give me the the year and the date and the time that you're gonna sign okay okay for the Jets what is the exact.

Time date November 11th 9 A.M. November 11th 20. what do we mean 2020.

2048. wow I'm marking it down November 11th 9:00 AM 2048. What is it that day and time? Does that have any meaning with you?

Not necessarily.

Yeah, amazing man. What is the final word you'd like to share with people about?

Let's, sorry, I got excited.

Go ahead.

Let's come out of this leaning into humility and gratitude and that will be the springboard to everything you want. If you can, just be grateful. Yes, you lost your job or your business not as good, but your grandfather didn't die from corona. You know, just be grateful. Like grateful for the time you're spending with family now, grateful for the innovation time, the thinking time. I'm sleeping more than ever. I put on a couple pounds, so I gotta be a little bit more.

Careful, but I'm gaining real muscle.

I'm starting to really do it. Strong man, let's play some ball soon. But I'm not gonna dodge you on that.

You're too good. But gratitude and humility. People can follow you anywhere online.

They can be all in challenge. All in challenge if they want to support you. Wine text, that's the thing I'm most proud of. Here's why.

WineText.com?

Here's why. It's literally the best way to buy wine right now in the world. I genuinely believe that. We sold a $125 Cabernet day for $39. We sold a $42 red Meritage for 19 bucks. We have a $40 Rosé, premium Rosé coming for $9 next month. It's really cool. And here's the other reason for this audience. seeing how text commerce is coming in the future really matters. But don't sign up if you're not into wine because it costs money to send a text. So I don't need the pity or the kindness. This is if you buy wine at all, then sign up.

And if you don't, don't. Love it, man.

I appreciate it for your heart. Love you, man.

Everything.

Talk to you soon, brother. I love you, pal.

Thanks for doing this. Appreciate it, man. Thanks, bro. I'm so grateful I got to spend some time with my friend Gary Vaynerchuk. and get caught up on everything that he's doing in his business, in his life, and also dive in deeper into the mindset of how he thinks during these uncertain times about how he's planning for the future, about when he wants to actually become the owner of the Jets. I'm not sure if he's actually ever said the date and time before, so that was pretty interesting. That and so much more. I just love the way he thinks, the way he calculates his mind, and how he has this unwavering self belief. The thing that I love about him the most is he is not afraid to put himself out there like so many people in the world. And if you can get an ounce of that for yourself, imagine what you'll be able to create. Imagine the job you'll be able to go after, the company you'll be able to work with. Imagine the podcast you'll be able to launch, the book you'll be able to write, that video you really want to create. Imagine the possibilities of what you'll be able to do and by eliminating some of that self-doubt and going all in on self-belief. That's what I love about Gary and his mindset. And if this is your first time here on the School of Greatness podcast, let me know what you thought over on social media @LewisHowes and tag GaryVee as well if you enjoyed this with him. Please subscribe over on Spotify and Apple Podcast and leave us a review. And if you are a long time listener, then you know what to do. Think of in your life that this could impact today, someone you know that could be inspired by Gary's message, that needs some more confidence, that needs more inspiration or tools around entrepreneurship and business, and send them this link. You can go to lewishouse.com/955 and send them that link. You can text them, you can WhatsApp, group message, whatever you got to do, get this message out there because you never know by paying it forward whose life you could change and transform by sending them this message. You can also just copy and paste the link on Apple or Spotify or wherever you're listening to podcasts and send them that link as well. And I love these quotes at the beginning that I shared. Steve Jobs said, I'm convinced that about half of what separates successful entrepreneurs from the non successful ones is pure perseverance. And Peter Drucker said, entrepreneurship is neither a science nor an art, an art. It's a practice. Guys, this is a practice. Becoming a better human being is a practice. Getting into a good relationship and thriving is a practice. Launching a business and doing it over and over at a high level is a practice. Taking care of your health. All these things are practices. You don't have to be perfect, but you do need to practice at it every day. if you want to grow. I believe in you. You have so much power inside of you and it's time to start letting it out a little bit more in the world. It's time to start stepping up for yourself just a little bit more every single day because when you do that every day and you are consistent in your practice, you will be so proud of the actions you take and the results will come effortlessly down the line. I love you so very much. I'm so grateful for you. you know what time it is. It's time to go out there and do something great.

Going up.

Prices keep going up these days. It feels like being on an elevator.

That only goes up.

Going up. But not at Metro. We're pushing the down button.

We've lowered prices.

Get one line of 5G data for $40, period. That's 20% lower. And you get a free Samsung 5G.

Phone when you bring your number only at Metro. Five-year guarantee on eligible plans, exclusions apply. See website for details. Not available at Metro with T-Mobile in.

The past six months. Tax supplies.