Codie Sanchez: Nobody’s Ready For Where AI + Live Shopping Are Going | GaryVee w/ BigDeal Podcast — Transcript

Full transcript

1. 0:00Live social shopping is the underpriced
2. 0:02attention. There are a ton of creators
3. 0:04right now who will never get millions of
4. 0:06followers and make millions of dollars.
5. 0:07But if they switch to being someone that
6. 0:09sells something on social instead of
7. 0:11making lifestyle content, they will make
8. 0:14millions of dollars. Live social
9. 0:15shopping in China represents 30% of all
10. 0:19e-commerce in China. Get the out. a half
11. 0:23a trillion economy of live shopping in
12. 0:27China that is bigger than almost every
13. 0:29nation's economy. We're already at 6% on
14. 0:32live shopping in the US and no one's
15. 0:34even seeing it yet.
16. 0:35What are your craziest predictions when
17. 0:37it comes to AI?
18. 0:38Well, I've gone pretty viral lately
19. 0:40because I my craziest prediction is that
20. 0:42most people's grandchildren will marry
21. 0:44an AI robot.
22. 0:44[ __ ] my life.
23. 0:45Some of them will. Not everyone's going
24. 0:47to, but I think this is the biggest
25. 0:50thing we've seen since the internet. Um,
26. 0:52it's that big. It's When the internet
27. 0:55came along, my thesis when I was a kid
28. 0:57was, "Oh, this is like like I bet my
29. 1:00life on it." And the bet was this is the
30. 1:03biggest transformation ever and like
31. 1:06everybody will be on the internet. And
32. 1:08when I tell you when I said that in '95,
33. 1:10six or seven, people laughed.
34. 1:13Laughed.
35. 1:15When people are like when they talk
36. 1:17about AI, I don't think they realize
37. 1:19it's oxygen. Like when I get excited
38. 1:21about the blockchain, NFTTS, Bitcoin,
39. 1:24that is a big deal. When I get excited
40. 1:26about social media, that was a very big
41. 1:28deal. Email, Google search, these are
42. 1:30big deals. This is a level above. This
43. 1:33is internet and AI. Meaning, I view AI
44. 1:36as almost boring to talk about because
45. 1:39is it fun to talk about the internet as
46. 1:41a foundation? Like, no. we talk about
47. 1:44the things on top of it.
48. 1:46To me, AI is now like omniresent. It's a
49. 1:49reality of life and there's a real
50. 1:51decade of recalibration, reckoning,
51. 1:55disruption, opportunity. Um, I I'm
52. 1:59baffled at anyone who's not spending an
53. 2:02hour a day learning about AI and using
54. 2:04AI. I couldn't imagine. And I spend a
55. 2:07lot of time prompt engineering, you
56. 2:09know, just if you don't know what that
57. 2:10means, Google it or AI it. And that's
58. 2:12what's so funny like even googling it.
59. 2:14I'm I noticed I said to somebody the
60. 2:16other day, I'm like AI it. Like go
61. 2:18Gemini it, go Perplexity, go Gronk it,
62. 2:21go open AI, you know, chat GPT it. Like
63. 2:24it's like it's huge. And it's like the
64. 2:28wildest predictions are the internet of
65. 2:30things, it thinking for you, it ordering
66. 2:33like I think all of shopping will be
67. 2:34done by agents for you based on your
68. 2:36behaviors. Like it will know better that
69. 2:39you wanted that outfit than you knew.
70. 2:41Facebook already knows me better than my
71. 2:43husband with shopping.
72. 2:44Most most days know things better than
73. 2:46husbands know, but we're a bunch of
74. 2:48idiots. Uh I think that it is very clear
75. 2:51to me that
76. 2:54we are going into a transformative
77. 2:58half century where AI will be like the
78. 3:01piping of this reality. Piping,
79. 3:04railroads, infrastructure, oxygen,
80. 3:08whatever you want to call it. This is
81. 3:09the biggest thing that's happened in a
82. 3:11long time.
83. 3:12Let's give people a couple things to do
84. 3:13on that. Somebody's listening. They're
85. 3:15like, "All right, [ __ ] it. Gary told me
86. 3:16to do AI." What is do AI daily in order
87. 3:19to get better at it look like
88. 3:20inside of Twitter X using Grank
89. 3:22Perplexity or Google Gemini or probably
90. 3:27the one that chat GPT is so strong and
91. 3:30so easy and common for people. Download
92. 3:33it and use it every day like and then
93. 3:35use it to like you like here's how I use
94. 3:37AI. Hey, AI like, hey, what are the this
95. 3:41is what I do actually almost every week.
96. 3:44What are the five AI apps that popped in
97. 3:46the last week that I should pay
98. 3:48attention to? AI is answering that
99. 3:50question for me so that I can go look at
100. 3:52those apps and understand what's
101. 3:53happening. Also, real quick, because I
102. 3:56know a lot of smart investors listen
103. 3:57here, be very careful in investing in
104. 3:59AI. The reason I haven't yet is every
105. 4:02week you think you just invested in the
106. 4:04best X and a week later somebody crushes
107. 4:07that. The speed. You want to talk about
108. 4:09speed? The speed in which like these
109. 4:12apps are getting updated and better is
110. 4:14profound.
111. 4:15Yeah.
112. 4:15It is the first time that I am
113. 4:16annoyingly an evangelist for tech that
114. 4:19is not something I've invested in or
115. 4:21own. Like I won't shut up about. I'm
116. 4:23like whisper flow. [ __ ] the keyboard.
117. 4:25The keyboard's gone. You just Yeah. You
118. 4:28just voice text and it's perfect from
119. 4:30now on. I mean that's wild.
120. 4:32What about What about What about the
121. 4:34fact that nobody has to learn a language
122. 4:35anymore? Everyone's going to have
123. 4:36earpods that like you're going to talk
124. 4:38to somebody, they're going to be
125. 4:39speaking Spanish and you'll hear it as
126. 4:41English and you're going to speak
127. 4:42English and they'll hear it as Spanish
128. 4:43and Portuguese and Korean. Like there's
129. 4:46profound things coming. But the wildest
130. 4:48one is we're going to fall in love with
131. 4:50these, you know, AIs and then we're
132. 4:53going to put that in love AI into robot
133. 4:55bodies. And those robot bodies are going
134. 4:58to go from looking like Robocop to
135. 5:00looking like, you know, Megan Fox,
136. 5:02didn't he, sweetie?
137. 5:03Uhhuh. And you know that Megan Fox movie
138. 5:06is a preview.
139. 5:08Yeah.
140. 5:08Does that make you sad?
141. 5:09No, it doesn't.
142. 5:11No. No. It makes me uh it makes me
143. 5:14understand that this is how it's always
144. 5:16been, you know, like cave men were
145. 5:19different than you and I were.
146. 5:21Supposedly we were apes, right? So like
147. 5:24does it make are apes mad that we like
148. 5:26like you know like [ __ ] changes? Like I
149. 5:28look I'm not like people always like
150. 5:30Gary that's gross or like you need
151. 5:32Jesus. I was like I'm like look I'm not
152. 5:35advocating for it.
153. 5:36Yeah. You're just predicting
154. 5:37like in fact I'm like advocating for
155. 5:39simplicity. I think it's I'm sad for
156. 5:41people that wear gold chains and [ __ ]
157. 5:45like take pictures in private planes. So
158. 5:48like I love when people are like this is
159. 5:49sad. I'm like you're sad you know like
160. 5:51like this is what's brewing. This is
161. 5:53what could happen. You're asking for a
162. 5:55prediction. I'm guessing but it [ __ ]
163. 5:58feels like it's coming.
164. 5:59I I think you're sadly I think you're
165. 6:01right. I I do think it's a little sad,
166. 6:03but that is every generation.
167. 6:05I go back to this. We're in charge. Like
168. 6:09if you think it's sad as a human one
169. 6:11day, like you can parent and grandparent
170. 6:14your kid into like understanding the
171. 6:16value of a human versus a robot, right?
172. 6:20The problem is like
173. 6:23is that like we have to get more
174. 6:25comfortable with being uncomfortable.
175. 6:28The reason the robots are trending in my
176. 6:30opinion long term is we want everything
177. 6:32perfect. That's ex That's exactly why
178. 6:34you know but by the way
179. 6:36like are we like are we robots like let
180. 6:40me explain
181. 6:41ompic
182. 6:43vanity hair extensions boob jobs [ __ ]
183. 6:47testosterone HGH like makeup like
184. 6:50you know like people can argue we're sad
185. 6:53we become very very very
186. 6:55visual like 40 50 year old men and women
187. 6:59like you and I two generations ago do
188. 7:02not look like the way we look. And those
189. 7:05people can say, "We're sad. Why do we
190. 7:08have to alter ourselves? What's plastic
191. 7:09surgery? What's Botox?" You know,
192. 7:12Gary's going to be like this in 10
193. 7:14years, maybe.
194. 7:15I'm probably not, but I don't judge
195. 7:17people that are.
196. 7:18I just judge when they say something sad
197. 7:21when they're doing the sad thing. I
198. 7:23remember in the 80s when boob like I was
199. 7:25a kid, but I remember when everybody
200. 7:28frowned on someone who had a boob job
201. 7:30and now they're everywhere.
202. 7:34You know what I mean?
203. 7:35It's true.
204. 7:36And so, and so like I don't know. Is lip
205. 7:39filler like sad to a woman from 1949? It
206. 7:43sure is. They think you're [ __ ] sad.
207. 7:46Zoom out. Huh?
208. 7:47So, just cuz you think a robot s like
209. 7:50it's just going to keep doing [ __ ] And
210. 7:51I get what people are going to say in
211. 7:53the comments like, "Yeah, but that's
212. 7:54still a human being." I'm like, "Okay."
213. 7:56Like I don't know. Like, okay. Well, I
214. 7:59had a I hired a an AI specialist who's
215. 8:02such so amazing. You walk into my
216. 8:04office, the first time I meet the guy in
217. 8:06person because uh we were interviewing
218. 8:08him on a project basis. Anyway, he's
219. 8:09sitting in the front area of my office.
220. 8:11He's got a hoodie on. He's got those
221. 8:12what are those things called? VR
222. 8:13glasses. VR glasses. And he's just
223. 8:15[ __ ] mystroing in front and I, you
224. 8:17know, taking a little video because it's
225. 8:18funny. His name's Chadwick. He's
226. 8:19brilliant. And his entire job is to see
227. 8:21where I AI can play in our companies.
228. 8:24But I started talking to him about this
229. 8:25idea and he pushed me really hard on our
230. 8:28humans robots. He goes, "Should they be
231. 8:30able to vote?" Immediate reaction, "Fuck
232. 8:32no, they shouldn't be able to vote." He
233. 8:33goes, "Okay, what about a human with a
234. 8:35fake leg? What about a human with two
235. 8:37robotic legs? What about a human with a
236. 8:39neuro uh transplant in their head? Where
237. 8:42does it become a human instead of a
238. 8:44robot?" And I was like poof. Yeah. And
239. 8:46and by the way, it might not even be
240. 8:48right. Like meaning like like it could
241. 8:51be the end of the human race. And I'm
242. 8:53like, okay. Like, I don't want Do you
243. 8:56think I want that? But my intuition is
244. 8:59that my grandkids will be gone by the
245. 9:01time that happens. And like, you don't
246. 9:02get to control the future. Like, what is
247. 9:05this a This is where this is where the
248. 9:07whole politics thing has gotten me
249. 9:09crazy. Like, we've gotten to this era
250. 9:11where people have the audacity to think
251. 9:13the world should be how they see it. I
252. 9:16have passionate points of view. We just
253. 9:18spent [ __ ] an hour on it.
254. 9:21I don't think I'm right. And I don't
255. 9:22think it should be the way I see it.
256. 9:25Like I just And most of all, you can't
257. 9:27stop it.
258. 9:29You know, technology is undefeated.
259. 9:32By the way, as I sign off, electricity
260. 9:35demonized when it came out. Actually,
261. 9:38the word demonized. When electricity was
262. 9:41invented, people did not put it in their
263. 9:43home and still chose lanterns and
264. 9:46candles because the word on the street
265. 9:48was electricity had demons in it.
266. 9:52We're scared of new [ __ ] I
267. 9:54I want to talk to you a little bit about
268. 9:56um building big companies. You've built
269. 9:58a ton.
270. 9:59And so with your current knowledge
271. 10:01today, I'm curious like let's say you
272. 10:03had to go back back to your wine days
273. 10:05almost. Let's say you owned a laundromat
274. 10:07cuz I'm into those things. So let's say
275. 10:09you own one laundromat and you had to
276. 10:10start your entire empire from one
277. 10:13laundromat today.
278. 10:14Like what would you do? What would be
279. 10:16the playbook?
280. 10:16Content.
281. 10:19Yeah. you know, because you know, you
282. 10:21and I are part of a breed that admires a
283. 10:24single laundry mat owner.
284. 10:26Yeah.
285. 10:27And and I think you have really done a
286. 10:29good job of tapping into something that
287. 10:31I think is black and white, which you
288. 10:33know, we talked about the last time we
289. 10:34hung like this whole whether you call it
290. 10:36micro PE or just practical business
291. 10:38obviously main street is the way you
292. 10:39think about it. I think there's a huge
293. 10:42opportunity for a lot of those people to
294. 10:45build brand. In fact, that's what I did.
295. 10:49I built my brand. I am that person. I
296. 10:53didn't even own the business. It was my
297. 10:54dad's business. I was I was the person
298. 10:55who built it. But my original content as
299. 10:59Gary Vee after 5 years or during the 5
300. 11:02years of doing the wine show, my
301. 11:04original first ever thoughts about
302. 11:07business and life and perspectives were
303. 11:10literally out of a liquor store, one
304. 11:12store. And I built my brand. I could
305. 11:15have easily if that's what I wanted
306. 11:18opened up 10 more stores did micro M&A
307. 11:21and I would have built a very
308. 11:23substantial
309. 11:25franchise fr or independentlyowned
310. 11:28multi-unit business which would be worth
311. 11:30a lot of money and in today's
312. 11:32environment would be a very attractive
313. 11:34PE acquisition as every small business
314. 11:36is going to get consolidated it feels
315. 11:38like these days. So I I really the
316. 11:41number one thing I would do is get into
317. 11:44content for two reasons. One, if you're
318. 11:46capable building your personal brand, I
319. 11:48do believe is a moat. I've always
320. 11:50believed that it was the moat. I've
321. 11:52talked about it for 15 years that it's
322. 11:54the moat. It is the one true asset that
323. 11:58doesn't get commoditized. Even in the AI
324. 12:00world, you still have your IP, it's your
325. 12:03copyright, it's you. Two, if you learn
326. 12:06to be a content creator, the other thing
327. 12:08that worked with me, and this was
328. 12:10handinhand, and this is what I want for
329. 12:11this person, is you start getting good
330. 12:13at running ads and doing content for
331. 12:15your business, too. So, in my brain,
332. 12:18what I'm dreaming up right now is
333. 12:20Sally's building up her. She's like, I
334. 12:22did this. This is how I bootstrapped it
335. 12:23or I how I inherited it or whatever is
336. 12:25real. Here's what I'm doing. Da d d d d
337. 12:27d d d d d d d d d d d d d d d d d d d d
338. 12:27d d d d d d d d d d d d d d d d d d d d
339. 12:27d d d d d d d d d d d d d d d d here's
340. 12:28my day-to-day troubles. Here's how I
341. 12:30think about it. Oh my god. Coins when
342. 12:33when people stopped having change on
343. 12:35them. We had to put in these you know uh
344. 12:37swipe your credit card or you know like
345. 12:39you know just like the the battle
346. 12:41stories of that business. But also what
347. 12:44she will learn in the story that I'm
348. 12:45telling is she'll learn what really
349. 12:47every and by the way I know a lot of
350. 12:48small businesses listen. So, let me give
351. 12:50it to you very straight.
352. 12:52Disproportionately, the biggest
353. 12:54opportunity to grow your business
354. 12:56traffic to your business, average
355. 12:59receipt size, is to run, if you're a
356. 13:01local business that people come to is to
357. 13:03run 10 mile radius Facebook ads.
358. 13:06And so Sally in this journey of building
359. 13:08up Sally, the laundrymat entrepreneur,
360. 13:11would also start to learn how to be good
361. 13:12at these things which she would then be
362. 13:15able to use to run ads to her business
363. 13:19which is advertising matters. It's
364. 13:21always mattered and it will always
365. 13:22matter and so content.
366. 13:26You know what's so interesting too in
367. 13:28your story? I remember looking back at
368. 13:30those old videos of you in your wine
369. 13:32business and um today everybody wants to
370. 13:34have a set, right? We're on a borrowed
371. 13:36set. This one isn't mine, but you know,
372. 13:37they want to have this fancy set. But
373. 13:38you know what the sickest set is today?
374. 13:40You're actually in the laundromat.
375. 13:42I think so.
376. 13:42You know, cuz it's show don't tell. It's
377. 13:44like, no, no. I own this. I'm not
378. 13:46There's no fluorescent lights here.
379. 13:47Watch me do this. You don't think I own
380. 13:49it. Look, I'm right here. I believe the
381. 13:51best studio in the world is the world. I
382. 13:53tell my clients, which are mainly
383. 13:55Fortune 500 companies, I'm like, "Look,
384. 13:57let's make content at stores, in parking
385. 13:59lots, at festivals." Um, I genuinely
386. 14:02believe that. I've always believed that.
387. 14:04I was honestly the pied piper in 2009,
388. 14:0810, 11, 12 of no production value. Wine
389. 14:12Liberty TV didn't even have a mic. No
390. 14:14lighting. No lighting, no mic. Literally
391. 14:17whatever the camera picked up and so
392. 14:19yeah, I agree with you. I think that
393. 14:22store studio
394. 14:23is a big idea.
395. 14:25It's a good framework.
396. 14:26Yeah, I think so. Sto studio is
397. 14:28something that I've really
398. 14:29championed more privately than publicly.
399. 14:32So, I'm glad we're getting to
400. 14:33pontificate about this and uh I think
401. 14:35that's right.
402. 14:36Yeah. And it means you don't have to
403. 14:37have a bunch of money cuz I'm I'm all
404. 14:38about the great equalizer. Like
405. 14:40yesterday my husband and I were kind of
406. 14:42laughing in New York because New York's
407. 14:43such an equalizer city in some ways
408. 14:45which is like
409. 14:46Yeah. So I could drive like a fancy
410. 14:48black car which sometimes I do. And
411. 14:50guess what? If you hoof it or if you
412. 14:52subway it, you're faster than me. And so
413. 14:55like that's a cool equalizer that
414. 14:57doesn't exist in a lot of other places.
415. 14:59And so I think this is a good example
416. 15:00for content. Like the best performing
417. 15:02ads for a lot of our businesses are
418. 15:03exactly what you said. It's like it's a
419. 15:06window cleaner cleaning a window and
420. 15:07then it reveals a price. Like that's it.
421. 15:10There's no production. And so production
422. 15:13often often again is disguising
423. 15:16insecurity.
424. 15:18Uhhuh. A lot of people talk about
425. 15:20production if you listen carefully. It's
426. 15:23just an excuse to not do.
427. 15:26Anyone who says I can't afford it is
428. 15:29full of [ __ ] It's called an iPhone. You
429. 15:31all have one. The end. Nothing else.
430. 15:34Zero. I did it for [ __ ] a half a
431. 15:37decade. A $239
432. 15:40camera from Best Buy was the only thing
433. 15:43I used. Nothing else. Nothing.
434. 15:48Such a good point. you know, you've
435. 15:49mastered these underpriced attention uh
436. 15:52platforms at varying times. You talk
437. 15:54about it in all of your books. At any
438. 15:55given time, there's an underpriced
439. 15:57platform. So, let's give the people the
440. 15:59non- evergreen. What is that today?
441. 16:01Where is the underpriced attention
442. 16:02today? Live social shopping. If you sell
443. 16:05anything, and this is huge for your
444. 16:07crew, if you sell anything,
445. 16:11you know, that's not a like a physical
446. 16:13thing, not a service. Vayner Media
447. 16:15doesn't do this. I can't do this with
448. 16:16Vayner Media. We don't sell a physical
449. 16:18thing. If you sell a physical thing,
450. 16:21which a lot of you do, every one of you
451. 16:24has to learn everything you can about
452. 16:27Tik Tok shop and whatnot. Wh those are
453. 16:31the two leaders right now. I expect
454. 16:32Meta, Google, Twitter, everybody to get
455. 16:35into this game. Live social shopping is
456. 16:38the underpriced attention. There are a
457. 16:40ton of creators right now who will never
458. 16:42get millions of followers and make
459. 16:43millions of dollars. But if they switch
460. 16:45to being someone that sells something on
461. 16:48social instead of making lifestyle
462. 16:50content, they will make millions of
463. 16:52dollars.
464. 16:52So smart.
465. 16:53I literally think garage sales and flea
466. 16:55markets are going to happen in live
467. 16:56social shopping. It's not just someone
468. 16:58who starts a beauty brand or
469. 17:00or like those storage units. Kate, we're
470. 17:02doing a storage unit. She has one here
471. 17:04that she's had for 2 years,
472. 17:06right? She's paying monthly. He's paying
473. 17:0825 bucks a month. We should just do it
474. 17:10live on YouTube.
475. 17:11Not YouTube cuz they don't have that
476. 17:13yet.
477. 17:14Well, that's So I want to turn it into a
478. 17:16YouTube video, but do it live on whatnot
479. 17:18or Tik Tok.
480. 17:19You should make a YouTube video cuz
481. 17:20that's great cuz that's content. But
482. 17:22live the QVCification of social media is
483. 17:25here.
484. 17:25Listen to these stats. 30% what it some
485. 17:29This is a stat. I'm always a little
486. 17:31weird with stats, but this is real.
487. 17:33China is fully here. China's got
488. 17:35obviously one of the biggest economies
489. 17:36in the world.
490. 17:37Live social shopping in China, now by
491. 17:40the most conservative estimates,
492. 17:43represents 30% of all e-commerce in
493. 17:47China.
494. 17:47Get the [ __ ] out. A half a trillion
495. 17:51dollar economy of live shopping in
496. 17:53China. That is bigger than almost every
497. 17:56nation's economy.
498. 17:59In the US, I just had the Q CEO of QVC.
499. 18:02He put out this stat that I'm going to
500. 18:05try to validate this week, but it feels
501. 18:07rightish. He's like, we're already at 6%
502. 18:11on live shopping in the US and no one's
503. 18:14even seeing it yet.
504. 18:15What What's that comp? Do we know what
505. 18:17that is compared to what QVC used to be?
506. 18:19Because it was like a lot then nothing
507. 18:21then now growing.
508. 18:22QVC has always been a ton.
509. 18:24Okay.
510. 18:25And it's not a lot. It was still doing
511. 18:28an ungodly amount of business.
512. 18:29Interesting. There's something about the
513. 18:31behavior. You're almost like paying for
514. 18:33the entertainment. You're like tipping
515. 18:36the host. You're like part of the
516. 18:38community. I have this concept called
517. 18:40commerce tamement. So, ready? How about
518. 18:42this? You're a hairdresser right now
519. 18:45listening and you sell shampoos and
520. 18:47other [ __ ] soaps and all the [ __ ]
521. 18:49[ __ ] in your place, right? You can go
522. 18:51live on whatnot right now. at the bottom
523. 18:54of the screen is like this $12 shampoo
524. 18:58and you could just buy it while you're
525. 18:59teaching people how to use the shampoo
526. 19:02on a customer.
527. 19:04This is real. I tea with Gary Vee, which
528. 19:07I really did really well during co I've
529. 19:09brought back. I love doing Q&A on Tea
530. 19:11with Gary Vee. I now do it on whatnot.
531. 19:14Not on Instagram live. I do it on all my
532. 19:16socials, but I drive to whatnot. I drink
533. 19:19out of a V friends mug
534. 19:21and the mug is pinned at the bottom of
535. 19:24the screen and while I'm doing the show
536. 19:26people are buying the mug.
537. 19:28Get out.
538. 19:28Commerce tamement. I'm not even selling
539. 19:31in that format.
540. 19:33It's just subliminal right there.
541. 19:34Yeah. Or I'll make a reference of like,
542. 19:36hey, you like my mug? You like like it's
543. 19:37it's it's a it's a it's a mini
544. 19:40commercial. It's not even a commercial.
545. 19:42Uhhuh. So,
546. 19:43you just like experimenting. Like that's
547. 19:44part of your thing. You just never stop
548. 19:46experimenting. Yes, after it's been
549. 19:49validated.
550. 19:49Okay,
551. 19:50I have a trillion dollar stuff of stuff
552. 19:52sells in China. Now we have those
553. 19:54functionalities. It's going to happen
554. 19:56here.
555. 19:57Gary Vee, you're the man. Thank you for
556. 19:59being here today.
557. 20:00Thank you.
558. 20:03[Music]