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The EASIEST Way To Make Money With AI (Copy This) — Transcript

by The Diary Of A CEO Clips · 5,063 words · 736 segments · language en · Watch on YouTube

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  1. 0:00So, in a world of AI, are there any
  2. 0:02particular opportunities that you think
  3. 0:03are um new and exciting that anybody
  4. 0:07listening right now could pursue to make
  5. 0:08money, whether it's passive income on
  6. 0:10the side or to leave their current role
  7. 0:11and pursue entrepreneurship for?
  8. 0:14>> Well, the starting point is that
  9. 0:15everything is an opportunity because
  10. 0:17what do entrepreneurs do? We find things
  11. 0:20that could be done better, faster,
  12. 0:21cheaper, or with more emotional
  13. 0:22benefits.
  14. 0:23>> But has AI created any particular
  15. 0:25interesting opportunities in your view
  16. 0:26that you think that's a a huge arbitrage
  17. 0:28opportunity? I think one of the best
  18. 0:29opportunities is a small SAS company. So
  19. 0:32software as a service was an elite level
  20. 0:35business opportunity that very very few
  21. 0:36people could enter. That was something
  22. 0:38that only maybe tens of thousands or
  23. 0:41hundreds of thousands of founders at
  24. 0:42most globally could have a software
  25. 0:45company. So it was very very elite. And
  26. 0:47the reason it was elite is because it
  27. 0:49was very very hard to mobilize the
  28. 0:51talent required to build a software
  29. 0:53company. you probably needed, you know,
  30. 0:55maybe 10, 20 or 30 uh developers to
  31. 0:58build a software product that would
  32. 0:59actually be a good software product. You
  33. 1:01needed to raise millions of dollars to
  34. 1:03get through the costs of developing
  35. 1:04software uh companies. And you probably
  36. 1:07needed 10,000 customers to have a break
  37. 1:09even software company. Now, because of
  38. 1:11AI, all of those costs have massively
  39. 1:14come down. And there are software
  40. 1:16companies that are wildly profitable
  41. 1:18that have 500 customers or a thousand
  42. 1:20customers. They service a tiny little
  43. 1:22niche. uh they attach a community and
  44. 1:24some media and some training to those
  45. 1:26little software niches. So one of the
  46. 1:28most exciting things is that if you
  47. 1:30essentially said that I would like to
  48. 1:34take what I know, turn it into a
  49. 1:36playbook, take that playbook, ask AI to
  50. 1:38advise me on what software we could
  51. 1:40create and then use AI tools to build
  52. 1:42out that software. You're able to get
  53. 1:45very deep into that journey for almost
  54. 1:48no money. I was thinking about this the
  55. 1:50other day because in my company, we're
  56. 1:52rebuilding our entire ATS ourselves. So,
  57. 1:56an ATS is basically the system you use
  58. 1:58when you recruit people. Everyone's name
  59. 2:00goes into the ATS. It's kind of like a
  60. 2:01like a search engine. Yeah, like a
  61. 2:03database of where candidates who have
  62. 2:05applied for your company currently are.
  63. 2:06And over the last couple of years, I've
  64. 2:08paid tens of thousands of dollars every
  65. 2:10year for an ATS for my companies. And
  66. 2:12this year, I thought, you know what,
  67. 2:13actually, I reckon we could build an ATS
  68. 2:15in a couple of weeks ourselves and it
  69. 2:17could be bespoke to us. So we started
  70. 2:18that project. I saw the the first
  71. 2:19version of it yesterday. We started a
  72. 2:21week ago.
  73. 2:22>> And the first version [laughter] the the
  74. 2:24version of it I saw I was like, "Oh,
  75. 2:25this is significantly better than what
  76. 2:27we were using before because it's
  77. 2:28bespoke."
  78. 2:28>> Yeah. And this made me think about the
  79. 2:30the opportunity of creating software
  80. 2:32generally, which is that in a world
  81. 2:34where it becomes, as you say, like
  82. 2:36cheaper, easier, faster, we're all going
  83. 2:38to be using more software, but we're
  84. 2:40probably not going to be paying
  85. 2:43other people for their software.
  86. 2:46Especially when it's these kind of
  87. 2:47tools, productivity tools and systems.
  88. 2:50>> It's purely a tool. It's very easy to
  89. 2:52replicate. But if it's a tool that comes
  90. 2:54with a community, if it comes with
  91. 2:56education and training, if it comes with
  92. 2:58agents that
  93. 2:59>> education and training.
  94. 3:00>> Yeah. So like for example, if you were
  95. 3:02to do an ATS, right, an applicant
  96. 3:04tracking system, a a hiring tool, and
  97. 3:06you had the DOAC uh system and method
  98. 3:09that I can go and attend the training as
  99. 3:11to how you on board people, how you
  100. 3:13create culture, how you do things at
  101. 3:15DOAC, I'm now interested in the software
  102. 3:17because it comes with that exciting
  103. 3:19training. if there was also a boot camp
  104. 3:21that I could go to that was attached to
  105. 3:23that product. If there was also an
  106. 3:25annual retreat or a dinner series, if
  107. 3:27there was also uh some funding
  108. 3:29opportunities that came with that. So
  109. 3:31once upon a time you were just simply
  110. 3:33going to focus on creating a software
  111. 3:35tool because that was so labor intensive
  112. 3:38and also it had a natural moat or
  113. 3:40protection around it that you didn't
  114. 3:42have to get creative. But now we live in
  115. 3:45a world where the AI lets you to build
  116. 3:46the product pretty quickly. It helps you
  117. 3:48to do all these other things that we
  118. 3:50talked about and suddenly it's actually
  119. 3:52quite a a fun product that you that you
  120. 3:55can spin up. What you've already created
  121. 3:57would have probably cost 500,000 in 6
  122. 4:00months.
  123. 4:01>> Oh my god. 6 months. I wish
  124. 4:03>> not that long ago.
  125. 4:03>> Yeah. It would probably cost it would
  126. 4:05have probably taken about 18 months
  127. 4:06total end to end.
  128. 4:07>> And you've done it in a week.
  129. 4:08>> Yeah. And so everyone else can do it in
  130. 4:11a week. And in fact, if anyone if that's
  131. 4:14anyone's business right now, there's
  132. 4:15going to be a thousand new ATS systems a
  133. 4:18day. One's going to trend on Twitter.
  134. 4:20You know, people are going to download
  135. 4:21that one, then they're going to jump
  136. 4:22ship because a new one emerges and it's
  137. 4:23better, it's more agentic or whatever.
  138. 4:25And so again, I think are we seeing
  139. 4:27software generally become a commodity?
  140. 4:29>> What we're going to see is we're going
  141. 4:30to see all business opportunities be
  142. 4:32like YouTube content. I mean, if I went
  143. 4:34back 25, 30 years ago and said there's
  144. 4:37going to be 10 person unfunded little TV
  145. 4:40studios that produce content every
  146. 4:42single week for almost no money.
  147. 4:45You you would think that's crazy. I
  148. 4:47mean, Seinfeld used to cost 5 million an
  149. 4:49episode. Um, The Simpsons and Friends,
  150. 4:52these were all multi-million dollars per
  151. 4:54episode. And we've now replicated that
  152. 4:57that can be done like by a tiny little
  153. 4:59team for free every week. It's
  154. 5:01interesting because the minute we say
  155. 5:03that the answer is to do these things
  156. 5:04that are now easy and free and cheap to
  157. 5:06do, it's almost like we we then don't
  158. 5:08acknowledge the fact that if everyone's
  159. 5:10doing it, it's no longer a valuable
  160. 5:12thing to do.
  161. 5:12>> It's less valuable.
  162. 5:13>> Yeah. As it becomes easier, the other
  163. 5:15access is the decline in the value. So,
  164. 5:18we're saying we're saying to people go
  165. 5:19be a content creator. But the very fact
  166. 5:21that they can without needing a CNN size
  167. 5:24skyscraper for production equipment also
  168. 5:26means everybody can which means that
  169. 5:29that that actually is losing value at
  170. 5:31the same rate that it's becoming easy
  171. 5:33theoretically and and so what I
  172. 5:35continually think about from first
  173. 5:36principles is what is it that I can bet
  174. 5:38on that is irreplaceably human which
  175. 5:42only I can do and a kid in Mumbai cannot
  176. 5:44do. And so when we say software I go kid
  177. 5:46in Mumbai and then we say content I go
  178. 5:48kid in Mumbai. Well, uh, physical
  179. 5:50experiences in the world, real world, I
  180. 5:52agree with you. So, standing on a stage
  181. 5:55and telling your story is something I
  182. 5:57mean, you already see that thousands of
  183. 6:00people show up to see this and to be
  184. 6:02part of to be in a room with other
  185. 6:03people who are sharing an experience.
  186. 6:05See, the thing that the AI version of
  187. 6:07you can't do is turn up to an event.
  188. 6:09>> I agree. So, I I say what I say because
  189. 6:13I genuinely want to be challenged here.
  190. 6:15I I'm I sit here with these AI experts
  191. 6:17and CEOs because I genuinely I hope that
  192. 6:20they say something that tilts the
  193. 6:23current belief that I have and like
  194. 6:25makes me go, "Oh, actually, you know,
  195. 6:26that's a good point. I'm in search of
  196. 6:28good points on the subject matter." So,
  197. 6:29when I said what I just said about
  198. 6:31content software becoming increasingly
  199. 6:33commoditized and because it's becoming
  200. 6:35commoditized, we're like tempting people
  201. 6:36to go do more of it without
  202. 6:38acknowledging the fact that the very
  203. 6:39fact that people are doing more of it
  204. 6:40means it's less valuable and it's more
  205. 6:42of a commodity. And what I'm saying
  206. 6:44though is that these things have to go
  207. 6:45together. So simply like anyone who's
  208. 6:48doing real world experiences, I think
  209. 6:50what's going to happen is you'll go to a
  210. 6:52conference and that conference will come
  211. 6:53with custom software that lasts 2 or 3
  212. 6:56weeks that is really really interesting
  213. 6:58and it relates to that conference and
  214. 7:00that software was created as a SAS
  215. 7:02product for the attendees of that
  216. 7:04conference and it kind of pops into
  217. 7:06existence very briefly. These things
  218. 7:08used to be separate and now they all
  219. 7:10cluster together, right? So, it's a
  220. 7:11buffet of things that you all put
  221. 7:13together. If we take most successful
  222. 7:15businesses now, they do social media
  223. 7:19that used to be a standalone business.
  224. 7:20It was crazy to think that a hair salon
  225. 7:23could also be a media business. I've met
  226. 7:25with tens of thousands of entrepreneurs
  227. 7:27and the number of people who want to go
  228. 7:29big is tiny. It's a fraction of the
  229. 7:31entrepreneurial community. What most
  230. 7:33people want is a business that provides
  231. 7:36an amazing lifestyle. They want to live
  232. 7:38and work from anywhere. They want to be
  233. 7:39able to travel. They want to do three or
  234. 7:41four days a week. They want to drop
  235. 7:42their kids off at school. They want to
  236. 7:45uh do non-monotonous, interesting work
  237. 7:49that is a little chaotic, a little
  238. 7:51creative, a little bit fun, a little bit
  239. 7:53challenging. They want to work with a
  240. 7:54small group of people that they get to
  241. 7:56know and enjoy and travel through life
  242. 7:58together. And those are the types of
  243. 7:59things that the majority of people
  244. 8:01actually want. Very few people actually
  245. 8:03want big. So, one thing that I'm
  246. 8:05noticing is that it's probably harder
  247. 8:08than ever to build a big business, but
  248. 8:09it's easier than ever to build a small
  249. 8:11successful business. So, if we were to
  250. 8:14say that a business that does 1 to 5
  251. 8:16million of revenue with a team of 10
  252. 8:17people, that is like totally
  253. 8:21like super uh possible. But once you go
  254. 8:25beyond that, it's becoming harder and
  255. 8:26harder because you get disrupted more
  256. 8:28frequently. So you have to be an elite
  257. 8:29athlete of entrepreneurs to withstand
  258. 8:32the constant disruption and and um the
  259. 8:35the constant change that's coming. So
  260. 8:37because your natural mindset is to think
  261. 8:39really really big, you're probably
  262. 8:43missing that for many people who are
  263. 8:46working in a annoying corporate
  264. 8:48environment and their job is monotonous
  265. 8:50and they feel tethered to a desk or they
  266. 8:53feel tethered to a team that doesn't
  267. 8:54really care about them. you know, a lot
  268. 8:56of those people are going to actually
  269. 8:57end up in small dynamic little
  270. 8:59businesses that will never be big, but
  271. 9:00they'll be great. They'll be fun, you
  272. 9:02know, and people will, you know, have
  273. 9:04flexibility and they'll have uh, you
  274. 9:07know, great, you know, great
  275. 9:09opportunities as a result.
  276. 9:10>> I think you're right. I do have a bias
  277. 9:12towards trying to find, you know, big
  278. 9:13opportunities, but actually I think the
  279. 9:16big blue ocean opportunity, which is,
  280. 9:19for anyone that doesn't know, I think of
  281. 9:20red oceans from the the book called Blue
  282. 9:21Ocean Strategy as very competitive,
  283. 9:24>> hyper competitive horrible markets where
  284. 9:26it's like a race to the bottom. You're
  285. 9:28all doing the same thing. Like you're
  286. 9:30all saying the same thing, doing the
  287. 9:32same thing, and you all think that your
  288. 9:34unique positioning is is unique, but
  289. 9:36it's actually not. The market doesn't
  290. 9:37value it any differently. Like a wine
  291. 9:39company saying that their wine is a year
  292. 9:40older or that using a fancier word on
  293. 9:42the label, it's a red ocean, a blood
  294. 9:44bath. A blue ocean is an uncont
  295. 9:46uncontested waters where you have room
  296. 9:48to grow much less competition and there
  297. 9:51is actually something fundamental to
  298. 9:53your proposition your business idea the
  299. 9:55thing the value you're giving to the
  300. 9:56world that is unique
  301. 9:57>> I'm looking for blue oceans
  302. 9:59>> and yes
  303. 10:01>> I will try and build a big boat in the
  304. 10:02blue ocean
  305. 10:03>> because that's my nature but also life
  306. 10:05is easier when you sail in blue oceans
  307. 10:08for everybody even if you want a
  308. 10:09lifestyle business I think one of the
  309. 10:11great examples at the moment is if you
  310. 10:12started a marketing agency when I
  311. 10:14started one in 2014,
  312. 10:15>> especially a social media agency, you
  313. 10:17were in the blue ocean.
  314. 10:18>> You were briefly
  315. 10:19>> briefly. And they say, you know, blue
  316. 10:20oceans often last for 10 years. In 2024,
  317. 10:23my best friends, I'd say 70% of them run
  318. 10:27marketing or brand agencies.
  319. 10:28>> Yeah.
  320. 10:29>> I'm having the same same therapy session
  321. 10:31with them once a month at the moment.
  322. 10:32And if you look at the big five, big
  323. 10:34four, big five agencies in the world,
  324. 10:35the WPPs and Martin Sorl's business,
  325. 10:38>> they're all
  326. 10:39>> they're all competed to way their
  327. 10:41margins. They're struggling. Yeah.
  328. 10:43>> They're losing their profit. they're
  329. 10:44losing their market share
  330. 10:45>> and AI and digital technology means that
  331. 10:47this disruption cycle happens in months,
  332. 10:49not years anymore. So you said a blue
  333. 10:51ocean can last for years or decades. Not
  334. 10:53in the world of AI. In the world of AI,
  335. 10:55as soon as we've identified that you've
  336. 10:56got a blue ocean, we can replicate that
  337. 10:58real fast and we can come and fly out to
  338. 11:00your blue ocean with with an with lots
  339. 11:02of competition. Here's something that's
  340. 11:04interesting. Throughout all of history,
  341. 11:06whenever you find societies that have
  342. 11:09low social mobility and hyper
  343. 11:11competition,
  344. 11:12there's lots and lots of festivals. So
  345. 11:15you go into medieval times, they've got
  346. 11:17a festival for every season. They've got
  347. 11:19a festival for every life event. There's
  348. 11:21just constant festivals. You go into
  349. 11:22rural Africa, rural India, and it's
  350. 11:25festivals, festivals, festivals, right?
  351. 11:26Weddings, funerals, seasonal festivals.
  352. 11:29It's a huge part of human culture that
  353. 11:32we have lost in big cities like we don't
  354. 11:34do a lot of festival or r it's rare that
  355. 11:36we do a lot of festivals these real
  356. 11:38world experiences but I don't
  357. 11:40necessarily think it's a blue ocean
  358. 11:41because uh as soon as people realize how
  359. 11:44much people want to do festivals and
  360. 11:46want to do real world experiences a lot
  361. 11:48of companies can also add this to the
  362. 11:50mix I think what is defensible is
  363. 11:53community experience and embracing the
  364. 11:57constant chaotic change and coming up
  365. 11:58with new stuff all the time.
  366. 12:00>> One of the bets I'm making and it goes
  367. 12:02back to what like again reasoning up
  368. 12:03from first principles. If the question
  369. 12:06is what can I do that an AI agent or AI
  370. 12:08could not do and especially in the
  371. 12:10context of what humans will continue to
  372. 12:12need.
  373. 12:12>> Mhm.
  374. 12:13>> When you were born down, you're born
  375. 12:14with a bunch of needs and those needs
  376. 12:16like fundamentally haven't changed. One
  377. 12:18of them is like connection.
  378. 12:19>> I think you'll always be able to discern
  379. 12:20what is real human connection from
  380. 12:23artificial connection. I remember being
  381. 12:2516 years old and in my psychology class
  382. 12:27at the back when they told me about the
  383. 12:28recess monkeys experiment where they got
  384. 12:30a recess monkey, this little small
  385. 12:31little monkey. They pretended that its
  386. 12:33mother was a wire mesh. So they made a
  387. 12:36wire mesh mother. The recess monkey
  388. 12:38grows up to be a psychopath because it's
  389. 12:40it's fundamental human need of
  390. 12:42connection is not met. They then did it
  391. 12:44with a cloth and the recess monkey grew
  392. 12:47up to be a bit more stable. And then
  393. 12:48obviously they showed the examples where
  394. 12:50the recess monkey actually had a
  395. 12:51physical flesh mother and it was it was
  396. 12:54fine. So I say this to illuminate the
  397. 12:57fact that we have fundamental needs that
  398. 12:58if not met there will be consequences.
  399. 13:00One of ours is connection. So as a
  400. 13:02content creator I can sit here and I can
  401. 13:04tell you what happened today. Right? I
  402. 13:06can say at 6:00 this guy broke into this
  403. 13:09bank and then he left. I think that's a
  404. 13:11commodity now. I think the thing that I
  405. 13:13can do as a podcaster, as a behind the
  406. 13:15scenes content creator, as a streamer,
  407. 13:18>> this is why I'm so bullish on streamers
  408. 13:20is they're making irreplaceably human
  409. 13:22content. There's no AI that can an AI
  410. 13:25can tell you what menop what happens in
  411. 13:26menopause. An AI can't tell you its
  412. 13:28experience of menopause.
  413. 13:29>> Yes, we need to find something that only
  414. 13:31we can say as humans. And every single
  415. 13:34person has this, by the way, but a lot
  416. 13:36of us overlook what we can say as a
  417. 13:38human. I recently came across a
  418. 13:40financial planner and his name is Matt
  419. 13:42Pitcher and he gave a TED talk and the
  420. 13:46TED talk is about what it was like for
  421. 13:48him to meet 100 people who had uh won
  422. 13:51the lottery. So he had a partnership as
  423. 13:53a financial planner with the uh British
  424. 13:55lottery and every week someone wins the
  425. 13:57lottery and then he goes in and meets
  426. 13:59them a week later after they've
  427. 14:01discovered they've won the lottery.
  428. 14:02>> Wow. But what he did did is he looked
  429. 14:05back at his history and he had lots of
  430. 14:06different things that he was doing. But
  431. 14:07he looked back at his history and he
  432. 14:09connected some dots and he said, "Hey,
  433. 14:10wait a second. There's something that
  434. 14:11only I can talk about. There's something
  435. 14:13that is that is my thing that I've
  436. 14:15experienced that I live through that
  437. 14:17I've sat in those living rooms. I've sat
  438. 14:18eye to eye with those people and only I
  439. 14:21can talk about that." And because of
  440. 14:22that TED talk, he's he's had half a
  441. 14:24million views in the first few weeks and
  442. 14:26you know, his business is obviously
  443. 14:27going to explode and all of those kind
  444. 14:29of things because he found something
  445. 14:30that only he could say. I believe that
  446. 14:33every person has something that's human
  447. 14:34that only they can say that's highly
  448. 14:36relatable. You shared with me an
  449. 14:38interesting philosophy. Uh when we first
  450. 14:40met, I did my first episode on Diary of
  451. 14:42a CEO and it got millions of views. And
  452. 14:44I said to you, why is it that my episode
  453. 14:46got millions of views, but a few weeks
  454. 14:48ago there was a billionaire CEO who only
  455. 14:51got a few hundred thousand views and a
  456. 14:53few weeks before that there was a
  457. 14:55billionaire CEO who only got a few
  458. 14:56hundred thousand views. And you said,
  459. 14:58"Daniel, relatable beats impressive."
  460. 15:00>> Yeah. And a lot of people think that
  461. 15:02they have to cure cancer or launch a
  462. 15:04rocket to Mars or that they have to win
  463. 15:06a Nobel Peace Prize or float a company
  464. 15:08on the NASDAQ. And actually, each
  465. 15:10individual person, we have to discover
  466. 15:12what I would call your personal
  467. 15:14intellectual property or your personal
  468. 15:15intellectual capital and your personal
  469. 15:18story, your personal playbooks, you
  470. 15:20know, your your triumphs and your
  471. 15:22disasters, the things that you've done
  472. 15:24that are interesting to a certain group
  473. 15:25of people that you can quantify, that
  474. 15:27you can describe, that you can give me
  475. 15:29what it was like. Those are your
  476. 15:31personal playbooks. Now once you have
  477. 15:33personal playbooks, you have the ability
  478. 15:35to turn that into all sorts of products
  479. 15:37and services through AI. But you but it
  480. 15:39starts with having personal playbooks.
  481. 15:41>> I think this is the key mistake that a
  482. 15:42lot of content creators are um making,
  483. 15:45which is because it's easy to make stuff
  484. 15:46now. Well, it's tempting just to churn
  485. 15:48stuff out.
  486. 15:49>> Yeah.
  487. 15:49>> Whereas I'm making less content now in a
  488. 15:53world of AI. If you look at my LinkedIn,
  489. 15:54I used to post, [laughter] if you go
  490. 15:57back like three or four years, I was
  491. 15:58just churning stuff out my quote
  492. 16:00picture, anything fluffy, like just
  493. 16:01fluff.
  494. 16:02>> Yeah. Now I go, well, if everyone can do
  495. 16:04it, the reason why my LinkedIn, you'll
  496. 16:06see
  497. 16:07>> almost every post I post now is a human
  498. 16:09story about something I've gone through,
  499. 16:10you'll see photos of me, you'll see
  500. 16:12photos of my family.
  501. 16:13>> You're saying stuff that only you can
  502. 16:14say.
  503. 16:16>> Yeah. So, we all have to find what is
  504. 16:18the thing that only you can say. And no
  505. 16:21robot, no AI could ever say that because
  506. 16:24it hasn't lived that experience.
  507. 16:26>> Yeah, it's got all the data. It's got
  508. 16:27all the knowledge, but it's got no lived
  509. 16:29experience. And also from a business
  510. 16:31perspective, an AI can never stand on a
  511. 16:33stage.
  512. 16:34>> An AI can never host a dinner party. Uh
  513. 16:36an AI can never meet someone face to
  514. 16:38face and put their hand on their
  515. 16:39shoulder and say, "Hey, I've been
  516. 16:40through what you've been through and
  517. 16:42you're going to be okay." Right? So all
  518. 16:44of those things AI can't do. So once you
  519. 16:46discover something that only you can say
  520. 16:48it it becomes a superpower.
  521. 16:50>> I think my best performing post this
  522. 16:51year was actually me proposing to my
  523. 16:53fiance a prime prime example of
  524. 16:56something that is irreplaceably human.
  525. 16:58Yeah,
  526. 16:58>> which is getting down on one knee and
  527. 16:59telling another human being that you
  528. 17:00love them. There's no AI that has ever I
  529. 17:03mean listen
  530. 17:04>> never experienced it.
  531. 17:04>> Yeah. Exactly. So and there's something
  532. 17:06so human about that.
  533. 17:07>> It's relatable. It's not impressive.
  534. 17:09It's relatable. Um from first principles
  535. 17:12I ask myself which type of content am I
  536. 17:15making is creating the the strongest
  537. 17:17parasocial relationship
  538. 17:18>> with the person on the other end. If I
  539. 17:20post on my LinkedIn everything happens
  540. 17:22for a reason. Am I how much have I moved
  541. 17:25the needle on our our relationship my
  542. 17:27relationship with you? Probably zero. If
  543. 17:29I talk about something more human, some
  544. 17:32struggles that I'm having uh from a
  545. 17:34human perspective, if I'm more honest,
  546. 17:36authentic, and open or vulnerable about
  547. 17:38the experience I'm going through, like
  548. 17:40streamers who sit there for seven, I
  549. 17:43think, did I say this last time that I I
  550. 17:44asked a streamer a couple of questions.
  551. 17:46>> And I asked the streamers like, "What do
  552. 17:47you do?" And he was like, "Oh, nothing.
  553. 17:48I just sit there and sit for seven hours
  554. 17:50and watch Judge Judy with the audience
  555. 17:51and we chat." I say, and this is a prime
  556. 17:53example of parasocial.
  557. 17:55>> They actually talk to you. They go,
  558. 17:56"Chat, let me know if you think X, Y, or
  559. 17:59Z." Chat, drop W's in the chat. That's a
  560. 18:02friend.
  561. 18:03>> That's the closest thing to a friend.
  562. 18:04It's the strongest parasocial
  563. 18:06relationship.
  564. 18:06>> Well, you said about the football game
  565. 18:07where the loudest cheers in the audience
  566. 18:09came for those streamers who were just
  567. 18:11connecting with people.
  568. 18:12>> They've built friendships basically with
  569. 18:14their audience. So, of all, I think in a
  570. 18:15world of AI where justformational
  571. 18:17content, which is this thing happened or
  572. 18:19this is what the gut microbiome is, is
  573. 18:22going to become commoditized. The thing
  574. 18:23that isn't commoditized is content that
  575. 18:26creates relationships with audiences and
  576. 18:28then as you say then converts that
  577. 18:30relationship into stronger experiences
  578. 18:32like IRL events and so on and so forth.
  579. 18:35I've got a couple more ideas that I I
  580. 18:36haven't fully shared with the world yet
  581. 18:38but I'm just I'll wait for the right
  582. 18:40time about all of this stuff.
  583. 18:42>> So it's not one piece that is adding the
  584. 18:43value. It's the ecosystem of pieces. So
  585. 18:46it's having something to say that only
  586. 18:48you can say. Let's call that your
  587. 18:49personal playbooks. Let's call that your
  588. 18:50personal intellectual property. It's
  589. 18:52having the people or your community that
  590. 18:54you're going through life with, right?
  591. 18:55Let's call that your ideal customers,
  592. 18:57your ideal personas. If you want to make
  593. 18:59it a clinical definition of in marketing
  594. 19:01speak that that gives rise to a personal
  595. 19:04brand. When those two things touch, you
  596. 19:06then end up with a personal brand,
  597. 19:08right? As if by magic, you end up with a
  598. 19:09personal brand because you've got
  599. 19:10intellectual property and you've got an
  600. 19:12ideal customer who connects with that.
  601. 19:13And then you you are the person who
  602. 19:15embodies it. So you you give rise to
  603. 19:17that. And then the question is, well,
  604. 19:18how do you make money from that? Well,
  605. 19:20you productize it. You create products
  606. 19:22and services. And it's the product and
  607. 19:24service ecosystem that makes money. It's
  608. 19:26not one product or service. It used to
  609. 19:28be that you could just have a a product
  610. 19:29or service that you offer. And now it's
  611. 19:31the product and service ecosystem. The
  612. 19:33people that I see making the most money
  613. 19:35at the moment, they don't do one thing.
  614. 19:37You don't do one thing, right? So, if I
  615. 19:39look at uh your personal P&L, you've
  616. 19:42probably got 27 different ways that
  617. 19:44money came and hit your bank account
  618. 19:46last month. There's speaking, there's
  619. 19:47podcasting, there's AdSense revenue,
  620. 19:49there's sponsors, there's shareholdings
  621. 19:52in different companies that you've got.
  622. 19:54Um, there might be some one-to-one
  623. 19:55coaching that you might have done. There
  624. 19:57might be an appearance fee. There might
  625. 19:58be some book royalties. There's multiple
  626. 20:00books. Uh, there might be some software
  627. 20:02that you've launched. So there's all
  628. 20:04this stuff that sounds crazy and chaotic
  629. 20:07in a pre-AII world, but in a postAI
  630. 20:09world, it's not that hard to create all
  631. 20:10these different products and services
  632. 20:12and to be launching different things and
  633. 20:14to be going on a journey with people and
  634. 20:15having a product and service ecosystem.
  635. 20:17I'm the same by the way. I've probably
  636. 20:18got 20 different things that you know
  637. 20:20that I'm involved in at any given time.
  638. 20:22>> I was reading yesterday that the for the
  639. 20:24first time I mean I was reading a few
  640. 20:26things. One of the interesting things I
  641. 20:27read is that Spotify said their best
  642. 20:29developers haven't written a line of
  643. 20:30code since December thanks to AI, which
  644. 20:32again is a whole another conversation.
  645. 20:34Maybe we should touch on that. What are
  646. 20:36the occupations that you genuinely
  647. 20:39believe won't exist 5 years from now as
  648. 20:42we know them?
  649. 20:43>> People say lawyers are going to be
  650. 20:45disrupted.
  651. 20:45>> Well, I recently had a law legal case
  652. 20:48that I had to resolve and it was going
  653. 20:50to cost us £50,000. So, $60,000
  654. 20:54uh as a start the process with a law
  655. 20:57firm. We took matters into our own hands
  656. 20:58and we used Claude and we actually fixed
  657. 21:00the process and resolve the process by
  658. 21:02spending 20 a month, $20 a month. And
  659. 21:05Claude gave us a coaching session on how
  660. 21:07to handle it. Gave us multiple decision
  661. 21:10tree pathways. Gave us the documents
  662. 21:12that we would need. Gave us an Excel
  663. 21:14spreadsheet of do say this, don't say
  664. 21:16this in the negotiation. And it made me
  665. 21:18realize, my goodness, what a lawyer's
  666. 21:20going to do. Uh because if all they do
  667. 21:23is charge for time for money to
  668. 21:25regurgitate contracts, I don't need that
  669. 21:27anymore. Right?
  670. 21:28>> Multiple reports say legacy legal tech
  671. 21:31and data firms have lost roughly 20% of
  672. 21:33their value so far in 2026.
  673. 21:35>> 280 billion was wiped off the value of
  674. 21:37publicly traded companies like that in
  675. 21:39the last week. Like it's wild. Um
  676. 21:43because we're not going to need that. I
  677. 21:45don't believe we're going to need these
  678. 21:46business models as they currently stand.
  679. 21:49I think they're going to have to change
  680. 21:50and adapt. I think a lawyer needs to
  681. 21:52take a completely different shape. Part
  682. 21:54business coach, part lawyer, part prompt
  683. 21:56engineer. They're going to be the key
  684. 21:58person of AI in the room who the
  685. 22:00lawyer's job will be to work with you on
  686. 22:02your AI prompting and help you get the
  687. 22:05resolution. You're probably going to
  688. 22:06need a lot less of a lawyer's time. Blue
  689. 22:09collar work has been devalued. And we've
  690. 22:11seen people who work with their hands
  691. 22:12and people who uh turn up to your house
  692. 22:14and fix your house in a devalued role.
  693. 22:18And it could be in the next, you know,
  694. 22:20uh, couple of years. These are the roles
  695. 22:22that are elevated the most and that
  696. 22:25plumbers regularly earn more than
  697. 22:26lawyers simply because the nature of the
  698. 22:29economy has changed. One thing I've
  699. 22:30learned over the last 25 years is the
  700. 22:32pendulum swings. Things that very few
  701. 22:35things stay the same. There is always
  702. 22:37this swinging pendulum. And the swinging
  703. 22:39pendulum is like, oh yeah, white collar
  704. 22:41work behind a screen is the high value
  705. 22:43thing. Oh, no, it's actually blue collar
  706. 22:44work with your hands. You talked about
  707. 22:46supply and demand. We dis the government
  708. 22:49disrupted the natural way children go
  709. 22:52out and find opportunities in the world
  710. 22:54by making university loans come along.
  711. 22:56And they said, "Oh, everyone can just
  712. 22:58take out a university loan and go to
  713. 22:59university. In fact, you must and you
  714. 23:01should go go to university. Get yourself
  715. 23:03in debt or else you'll never get a job
  716. 23:04anywhere if you don't do a university
  717. 23:06degree." And lots of young people who
  718. 23:09should have been plumbers, electricians,
  719. 23:10and concreers and brick layers went off
  720. 23:13and became a m got a master's degree in
  721. 23:15the mating habits of butterflies and you
  722. 23:18know some random degree that doesn't
  723. 23:20have a job attached and they ended up in
  724. 23:2160 70 $80,000 worth of debt to get this
  725. 23:24degree that no one was asking for. That
  726. 23:26market distortion means that we now
  727. 23:28don't have many plumbers and
  728. 23:30electricians and the blue ocean is now
  729. 23:33being a trades person. If you love the D
  730. 23:35CEO brand and you watch this channel,
  731. 23:37please do me a huge favor. Become part
  732. 23:39of the 15% of the viewers on this
  733. 23:42channel that have hit the subscribe
  734. 23:43button. It helps us tremendously and the
  735. 23:45bigger the channel gets, the bigger the
  736. 23:46guests.

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