The EASIEST Way To Make Money With AI (Copy This) — Transcript
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- 0:00So, in a world of AI, are there any
- 0:02particular opportunities that you think
- 0:03are um new and exciting that anybody
- 0:07listening right now could pursue to make
- 0:08money, whether it's passive income on
- 0:10the side or to leave their current role
- 0:11and pursue entrepreneurship for?
- 0:14>> Well, the starting point is that
- 0:15everything is an opportunity because
- 0:17what do entrepreneurs do? We find things
- 0:20that could be done better, faster,
- 0:21cheaper, or with more emotional
- 0:22benefits.
- 0:23>> But has AI created any particular
- 0:25interesting opportunities in your view
- 0:26that you think that's a a huge arbitrage
- 0:28opportunity? I think one of the best
- 0:29opportunities is a small SAS company. So
- 0:32software as a service was an elite level
- 0:35business opportunity that very very few
- 0:36people could enter. That was something
- 0:38that only maybe tens of thousands or
- 0:41hundreds of thousands of founders at
- 0:42most globally could have a software
- 0:45company. So it was very very elite. And
- 0:47the reason it was elite is because it
- 0:49was very very hard to mobilize the
- 0:51talent required to build a software
- 0:53company. you probably needed, you know,
- 0:55maybe 10, 20 or 30 uh developers to
- 0:58build a software product that would
- 0:59actually be a good software product. You
- 1:01needed to raise millions of dollars to
- 1:03get through the costs of developing
- 1:04software uh companies. And you probably
- 1:07needed 10,000 customers to have a break
- 1:09even software company. Now, because of
- 1:11AI, all of those costs have massively
- 1:14come down. And there are software
- 1:16companies that are wildly profitable
- 1:18that have 500 customers or a thousand
- 1:20customers. They service a tiny little
- 1:22niche. uh they attach a community and
- 1:24some media and some training to those
- 1:26little software niches. So one of the
- 1:28most exciting things is that if you
- 1:30essentially said that I would like to
- 1:34take what I know, turn it into a
- 1:36playbook, take that playbook, ask AI to
- 1:38advise me on what software we could
- 1:40create and then use AI tools to build
- 1:42out that software. You're able to get
- 1:45very deep into that journey for almost
- 1:48no money. I was thinking about this the
- 1:50other day because in my company, we're
- 1:52rebuilding our entire ATS ourselves. So,
- 1:56an ATS is basically the system you use
- 1:58when you recruit people. Everyone's name
- 2:00goes into the ATS. It's kind of like a
- 2:01like a search engine. Yeah, like a
- 2:03database of where candidates who have
- 2:05applied for your company currently are.
- 2:06And over the last couple of years, I've
- 2:08paid tens of thousands of dollars every
- 2:10year for an ATS for my companies. And
- 2:12this year, I thought, you know what,
- 2:13actually, I reckon we could build an ATS
- 2:15in a couple of weeks ourselves and it
- 2:17could be bespoke to us. So we started
- 2:18that project. I saw the the first
- 2:19version of it yesterday. We started a
- 2:21week ago.
- 2:22>> And the first version [laughter] the the
- 2:24version of it I saw I was like, "Oh,
- 2:25this is significantly better than what
- 2:27we were using before because it's
- 2:28bespoke."
- 2:28>> Yeah. And this made me think about the
- 2:30the opportunity of creating software
- 2:32generally, which is that in a world
- 2:34where it becomes, as you say, like
- 2:36cheaper, easier, faster, we're all going
- 2:38to be using more software, but we're
- 2:40probably not going to be paying
- 2:43other people for their software.
- 2:46Especially when it's these kind of
- 2:47tools, productivity tools and systems.
- 2:50>> It's purely a tool. It's very easy to
- 2:52replicate. But if it's a tool that comes
- 2:54with a community, if it comes with
- 2:56education and training, if it comes with
- 2:58agents that
- 2:59>> education and training.
- 3:00>> Yeah. So like for example, if you were
- 3:02to do an ATS, right, an applicant
- 3:04tracking system, a a hiring tool, and
- 3:06you had the DOAC uh system and method
- 3:09that I can go and attend the training as
- 3:11to how you on board people, how you
- 3:13create culture, how you do things at
- 3:15DOAC, I'm now interested in the software
- 3:17because it comes with that exciting
- 3:19training. if there was also a boot camp
- 3:21that I could go to that was attached to
- 3:23that product. If there was also an
- 3:25annual retreat or a dinner series, if
- 3:27there was also uh some funding
- 3:29opportunities that came with that. So
- 3:31once upon a time you were just simply
- 3:33going to focus on creating a software
- 3:35tool because that was so labor intensive
- 3:38and also it had a natural moat or
- 3:40protection around it that you didn't
- 3:42have to get creative. But now we live in
- 3:45a world where the AI lets you to build
- 3:46the product pretty quickly. It helps you
- 3:48to do all these other things that we
- 3:50talked about and suddenly it's actually
- 3:52quite a a fun product that you that you
- 3:55can spin up. What you've already created
- 3:57would have probably cost 500,000 in 6
- 4:00months.
- 4:01>> Oh my god. 6 months. I wish
- 4:03>> not that long ago.
- 4:03>> Yeah. It would probably cost it would
- 4:05have probably taken about 18 months
- 4:06total end to end.
- 4:07>> And you've done it in a week.
- 4:08>> Yeah. And so everyone else can do it in
- 4:11a week. And in fact, if anyone if that's
- 4:14anyone's business right now, there's
- 4:15going to be a thousand new ATS systems a
- 4:18day. One's going to trend on Twitter.
- 4:20You know, people are going to download
- 4:21that one, then they're going to jump
- 4:22ship because a new one emerges and it's
- 4:23better, it's more agentic or whatever.
- 4:25And so again, I think are we seeing
- 4:27software generally become a commodity?
- 4:29>> What we're going to see is we're going
- 4:30to see all business opportunities be
- 4:32like YouTube content. I mean, if I went
- 4:34back 25, 30 years ago and said there's
- 4:37going to be 10 person unfunded little TV
- 4:40studios that produce content every
- 4:42single week for almost no money.
- 4:45You you would think that's crazy. I
- 4:47mean, Seinfeld used to cost 5 million an
- 4:49episode. Um, The Simpsons and Friends,
- 4:52these were all multi-million dollars per
- 4:54episode. And we've now replicated that
- 4:57that can be done like by a tiny little
- 4:59team for free every week. It's
- 5:01interesting because the minute we say
- 5:03that the answer is to do these things
- 5:04that are now easy and free and cheap to
- 5:06do, it's almost like we we then don't
- 5:08acknowledge the fact that if everyone's
- 5:10doing it, it's no longer a valuable
- 5:12thing to do.
- 5:12>> It's less valuable.
- 5:13>> Yeah. As it becomes easier, the other
- 5:15access is the decline in the value. So,
- 5:18we're saying we're saying to people go
- 5:19be a content creator. But the very fact
- 5:21that they can without needing a CNN size
- 5:24skyscraper for production equipment also
- 5:26means everybody can which means that
- 5:29that that actually is losing value at
- 5:31the same rate that it's becoming easy
- 5:33theoretically and and so what I
- 5:35continually think about from first
- 5:36principles is what is it that I can bet
- 5:38on that is irreplaceably human which
- 5:42only I can do and a kid in Mumbai cannot
- 5:44do. And so when we say software I go kid
- 5:46in Mumbai and then we say content I go
- 5:48kid in Mumbai. Well, uh, physical
- 5:50experiences in the world, real world, I
- 5:52agree with you. So, standing on a stage
- 5:55and telling your story is something I
- 5:57mean, you already see that thousands of
- 6:00people show up to see this and to be
- 6:02part of to be in a room with other
- 6:03people who are sharing an experience.
- 6:05See, the thing that the AI version of
- 6:07you can't do is turn up to an event.
- 6:09>> I agree. So, I I say what I say because
- 6:13I genuinely want to be challenged here.
- 6:15I I'm I sit here with these AI experts
- 6:17and CEOs because I genuinely I hope that
- 6:20they say something that tilts the
- 6:23current belief that I have and like
- 6:25makes me go, "Oh, actually, you know,
- 6:26that's a good point. I'm in search of
- 6:28good points on the subject matter." So,
- 6:29when I said what I just said about
- 6:31content software becoming increasingly
- 6:33commoditized and because it's becoming
- 6:35commoditized, we're like tempting people
- 6:36to go do more of it without
- 6:38acknowledging the fact that the very
- 6:39fact that people are doing more of it
- 6:40means it's less valuable and it's more
- 6:42of a commodity. And what I'm saying
- 6:44though is that these things have to go
- 6:45together. So simply like anyone who's
- 6:48doing real world experiences, I think
- 6:50what's going to happen is you'll go to a
- 6:52conference and that conference will come
- 6:53with custom software that lasts 2 or 3
- 6:56weeks that is really really interesting
- 6:58and it relates to that conference and
- 7:00that software was created as a SAS
- 7:02product for the attendees of that
- 7:04conference and it kind of pops into
- 7:06existence very briefly. These things
- 7:08used to be separate and now they all
- 7:10cluster together, right? So, it's a
- 7:11buffet of things that you all put
- 7:13together. If we take most successful
- 7:15businesses now, they do social media
- 7:19that used to be a standalone business.
- 7:20It was crazy to think that a hair salon
- 7:23could also be a media business. I've met
- 7:25with tens of thousands of entrepreneurs
- 7:27and the number of people who want to go
- 7:29big is tiny. It's a fraction of the
- 7:31entrepreneurial community. What most
- 7:33people want is a business that provides
- 7:36an amazing lifestyle. They want to live
- 7:38and work from anywhere. They want to be
- 7:39able to travel. They want to do three or
- 7:41four days a week. They want to drop
- 7:42their kids off at school. They want to
- 7:45uh do non-monotonous, interesting work
- 7:49that is a little chaotic, a little
- 7:51creative, a little bit fun, a little bit
- 7:53challenging. They want to work with a
- 7:54small group of people that they get to
- 7:56know and enjoy and travel through life
- 7:58together. And those are the types of
- 7:59things that the majority of people
- 8:01actually want. Very few people actually
- 8:03want big. So, one thing that I'm
- 8:05noticing is that it's probably harder
- 8:08than ever to build a big business, but
- 8:09it's easier than ever to build a small
- 8:11successful business. So, if we were to
- 8:14say that a business that does 1 to 5
- 8:16million of revenue with a team of 10
- 8:17people, that is like totally
- 8:21like super uh possible. But once you go
- 8:25beyond that, it's becoming harder and
- 8:26harder because you get disrupted more
- 8:28frequently. So you have to be an elite
- 8:29athlete of entrepreneurs to withstand
- 8:32the constant disruption and and um the
- 8:35the constant change that's coming. So
- 8:37because your natural mindset is to think
- 8:39really really big, you're probably
- 8:43missing that for many people who are
- 8:46working in a annoying corporate
- 8:48environment and their job is monotonous
- 8:50and they feel tethered to a desk or they
- 8:53feel tethered to a team that doesn't
- 8:54really care about them. you know, a lot
- 8:56of those people are going to actually
- 8:57end up in small dynamic little
- 8:59businesses that will never be big, but
- 9:00they'll be great. They'll be fun, you
- 9:02know, and people will, you know, have
- 9:04flexibility and they'll have uh, you
- 9:07know, great, you know, great
- 9:09opportunities as a result.
- 9:10>> I think you're right. I do have a bias
- 9:12towards trying to find, you know, big
- 9:13opportunities, but actually I think the
- 9:16big blue ocean opportunity, which is,
- 9:19for anyone that doesn't know, I think of
- 9:20red oceans from the the book called Blue
- 9:21Ocean Strategy as very competitive,
- 9:24>> hyper competitive horrible markets where
- 9:26it's like a race to the bottom. You're
- 9:28all doing the same thing. Like you're
- 9:30all saying the same thing, doing the
- 9:32same thing, and you all think that your
- 9:34unique positioning is is unique, but
- 9:36it's actually not. The market doesn't
- 9:37value it any differently. Like a wine
- 9:39company saying that their wine is a year
- 9:40older or that using a fancier word on
- 9:42the label, it's a red ocean, a blood
- 9:44bath. A blue ocean is an uncont
- 9:46uncontested waters where you have room
- 9:48to grow much less competition and there
- 9:51is actually something fundamental to
- 9:53your proposition your business idea the
- 9:55thing the value you're giving to the
- 9:56world that is unique
- 9:57>> I'm looking for blue oceans
- 9:59>> and yes
- 10:01>> I will try and build a big boat in the
- 10:02blue ocean
- 10:03>> because that's my nature but also life
- 10:05is easier when you sail in blue oceans
- 10:08for everybody even if you want a
- 10:09lifestyle business I think one of the
- 10:11great examples at the moment is if you
- 10:12started a marketing agency when I
- 10:14started one in 2014,
- 10:15>> especially a social media agency, you
- 10:17were in the blue ocean.
- 10:18>> You were briefly
- 10:19>> briefly. And they say, you know, blue
- 10:20oceans often last for 10 years. In 2024,
- 10:23my best friends, I'd say 70% of them run
- 10:27marketing or brand agencies.
- 10:28>> Yeah.
- 10:29>> I'm having the same same therapy session
- 10:31with them once a month at the moment.
- 10:32And if you look at the big five, big
- 10:34four, big five agencies in the world,
- 10:35the WPPs and Martin Sorl's business,
- 10:38>> they're all
- 10:39>> they're all competed to way their
- 10:41margins. They're struggling. Yeah.
- 10:43>> They're losing their profit. they're
- 10:44losing their market share
- 10:45>> and AI and digital technology means that
- 10:47this disruption cycle happens in months,
- 10:49not years anymore. So you said a blue
- 10:51ocean can last for years or decades. Not
- 10:53in the world of AI. In the world of AI,
- 10:55as soon as we've identified that you've
- 10:56got a blue ocean, we can replicate that
- 10:58real fast and we can come and fly out to
- 11:00your blue ocean with with an with lots
- 11:02of competition. Here's something that's
- 11:04interesting. Throughout all of history,
- 11:06whenever you find societies that have
- 11:09low social mobility and hyper
- 11:11competition,
- 11:12there's lots and lots of festivals. So
- 11:15you go into medieval times, they've got
- 11:17a festival for every season. They've got
- 11:19a festival for every life event. There's
- 11:21just constant festivals. You go into
- 11:22rural Africa, rural India, and it's
- 11:25festivals, festivals, festivals, right?
- 11:26Weddings, funerals, seasonal festivals.
- 11:29It's a huge part of human culture that
- 11:32we have lost in big cities like we don't
- 11:34do a lot of festival or r it's rare that
- 11:36we do a lot of festivals these real
- 11:38world experiences but I don't
- 11:40necessarily think it's a blue ocean
- 11:41because uh as soon as people realize how
- 11:44much people want to do festivals and
- 11:46want to do real world experiences a lot
- 11:48of companies can also add this to the
- 11:50mix I think what is defensible is
- 11:53community experience and embracing the
- 11:57constant chaotic change and coming up
- 11:58with new stuff all the time.
- 12:00>> One of the bets I'm making and it goes
- 12:02back to what like again reasoning up
- 12:03from first principles. If the question
- 12:06is what can I do that an AI agent or AI
- 12:08could not do and especially in the
- 12:10context of what humans will continue to
- 12:12need.
- 12:12>> Mhm.
- 12:13>> When you were born down, you're born
- 12:14with a bunch of needs and those needs
- 12:16like fundamentally haven't changed. One
- 12:18of them is like connection.
- 12:19>> I think you'll always be able to discern
- 12:20what is real human connection from
- 12:23artificial connection. I remember being
- 12:2516 years old and in my psychology class
- 12:27at the back when they told me about the
- 12:28recess monkeys experiment where they got
- 12:30a recess monkey, this little small
- 12:31little monkey. They pretended that its
- 12:33mother was a wire mesh. So they made a
- 12:36wire mesh mother. The recess monkey
- 12:38grows up to be a psychopath because it's
- 12:40it's fundamental human need of
- 12:42connection is not met. They then did it
- 12:44with a cloth and the recess monkey grew
- 12:47up to be a bit more stable. And then
- 12:48obviously they showed the examples where
- 12:50the recess monkey actually had a
- 12:51physical flesh mother and it was it was
- 12:54fine. So I say this to illuminate the
- 12:57fact that we have fundamental needs that
- 12:58if not met there will be consequences.
- 13:00One of ours is connection. So as a
- 13:02content creator I can sit here and I can
- 13:04tell you what happened today. Right? I
- 13:06can say at 6:00 this guy broke into this
- 13:09bank and then he left. I think that's a
- 13:11commodity now. I think the thing that I
- 13:13can do as a podcaster, as a behind the
- 13:15scenes content creator, as a streamer,
- 13:18>> this is why I'm so bullish on streamers
- 13:20is they're making irreplaceably human
- 13:22content. There's no AI that can an AI
- 13:25can tell you what menop what happens in
- 13:26menopause. An AI can't tell you its
- 13:28experience of menopause.
- 13:29>> Yes, we need to find something that only
- 13:31we can say as humans. And every single
- 13:34person has this, by the way, but a lot
- 13:36of us overlook what we can say as a
- 13:38human. I recently came across a
- 13:40financial planner and his name is Matt
- 13:42Pitcher and he gave a TED talk and the
- 13:46TED talk is about what it was like for
- 13:48him to meet 100 people who had uh won
- 13:51the lottery. So he had a partnership as
- 13:53a financial planner with the uh British
- 13:55lottery and every week someone wins the
- 13:57lottery and then he goes in and meets
- 13:59them a week later after they've
- 14:01discovered they've won the lottery.
- 14:02>> Wow. But what he did did is he looked
- 14:05back at his history and he had lots of
- 14:06different things that he was doing. But
- 14:07he looked back at his history and he
- 14:09connected some dots and he said, "Hey,
- 14:10wait a second. There's something that
- 14:11only I can talk about. There's something
- 14:13that is that is my thing that I've
- 14:15experienced that I live through that
- 14:17I've sat in those living rooms. I've sat
- 14:18eye to eye with those people and only I
- 14:21can talk about that." And because of
- 14:22that TED talk, he's he's had half a
- 14:24million views in the first few weeks and
- 14:26you know, his business is obviously
- 14:27going to explode and all of those kind
- 14:29of things because he found something
- 14:30that only he could say. I believe that
- 14:33every person has something that's human
- 14:34that only they can say that's highly
- 14:36relatable. You shared with me an
- 14:38interesting philosophy. Uh when we first
- 14:40met, I did my first episode on Diary of
- 14:42a CEO and it got millions of views. And
- 14:44I said to you, why is it that my episode
- 14:46got millions of views, but a few weeks
- 14:48ago there was a billionaire CEO who only
- 14:51got a few hundred thousand views and a
- 14:53few weeks before that there was a
- 14:55billionaire CEO who only got a few
- 14:56hundred thousand views. And you said,
- 14:58"Daniel, relatable beats impressive."
- 15:00>> Yeah. And a lot of people think that
- 15:02they have to cure cancer or launch a
- 15:04rocket to Mars or that they have to win
- 15:06a Nobel Peace Prize or float a company
- 15:08on the NASDAQ. And actually, each
- 15:10individual person, we have to discover
- 15:12what I would call your personal
- 15:14intellectual property or your personal
- 15:15intellectual capital and your personal
- 15:18story, your personal playbooks, you
- 15:20know, your your triumphs and your
- 15:22disasters, the things that you've done
- 15:24that are interesting to a certain group
- 15:25of people that you can quantify, that
- 15:27you can describe, that you can give me
- 15:29what it was like. Those are your
- 15:31personal playbooks. Now once you have
- 15:33personal playbooks, you have the ability
- 15:35to turn that into all sorts of products
- 15:37and services through AI. But you but it
- 15:39starts with having personal playbooks.
- 15:41>> I think this is the key mistake that a
- 15:42lot of content creators are um making,
- 15:45which is because it's easy to make stuff
- 15:46now. Well, it's tempting just to churn
- 15:48stuff out.
- 15:49>> Yeah.
- 15:49>> Whereas I'm making less content now in a
- 15:53world of AI. If you look at my LinkedIn,
- 15:54I used to post, [laughter] if you go
- 15:57back like three or four years, I was
- 15:58just churning stuff out my quote
- 16:00picture, anything fluffy, like just
- 16:01fluff.
- 16:02>> Yeah. Now I go, well, if everyone can do
- 16:04it, the reason why my LinkedIn, you'll
- 16:06see
- 16:07>> almost every post I post now is a human
- 16:09story about something I've gone through,
- 16:10you'll see photos of me, you'll see
- 16:12photos of my family.
- 16:13>> You're saying stuff that only you can
- 16:14say.
- 16:16>> Yeah. So, we all have to find what is
- 16:18the thing that only you can say. And no
- 16:21robot, no AI could ever say that because
- 16:24it hasn't lived that experience.
- 16:26>> Yeah, it's got all the data. It's got
- 16:27all the knowledge, but it's got no lived
- 16:29experience. And also from a business
- 16:31perspective, an AI can never stand on a
- 16:33stage.
- 16:34>> An AI can never host a dinner party. Uh
- 16:36an AI can never meet someone face to
- 16:38face and put their hand on their
- 16:39shoulder and say, "Hey, I've been
- 16:40through what you've been through and
- 16:42you're going to be okay." Right? So all
- 16:44of those things AI can't do. So once you
- 16:46discover something that only you can say
- 16:48it it becomes a superpower.
- 16:50>> I think my best performing post this
- 16:51year was actually me proposing to my
- 16:53fiance a prime prime example of
- 16:56something that is irreplaceably human.
- 16:58Yeah,
- 16:58>> which is getting down on one knee and
- 16:59telling another human being that you
- 17:00love them. There's no AI that has ever I
- 17:03mean listen
- 17:04>> never experienced it.
- 17:04>> Yeah. Exactly. So and there's something
- 17:06so human about that.
- 17:07>> It's relatable. It's not impressive.
- 17:09It's relatable. Um from first principles
- 17:12I ask myself which type of content am I
- 17:15making is creating the the strongest
- 17:17parasocial relationship
- 17:18>> with the person on the other end. If I
- 17:20post on my LinkedIn everything happens
- 17:22for a reason. Am I how much have I moved
- 17:25the needle on our our relationship my
- 17:27relationship with you? Probably zero. If
- 17:29I talk about something more human, some
- 17:32struggles that I'm having uh from a
- 17:34human perspective, if I'm more honest,
- 17:36authentic, and open or vulnerable about
- 17:38the experience I'm going through, like
- 17:40streamers who sit there for seven, I
- 17:43think, did I say this last time that I I
- 17:44asked a streamer a couple of questions.
- 17:46>> And I asked the streamers like, "What do
- 17:47you do?" And he was like, "Oh, nothing.
- 17:48I just sit there and sit for seven hours
- 17:50and watch Judge Judy with the audience
- 17:51and we chat." I say, and this is a prime
- 17:53example of parasocial.
- 17:55>> They actually talk to you. They go,
- 17:56"Chat, let me know if you think X, Y, or
- 17:59Z." Chat, drop W's in the chat. That's a
- 18:02friend.
- 18:03>> That's the closest thing to a friend.
- 18:04It's the strongest parasocial
- 18:06relationship.
- 18:06>> Well, you said about the football game
- 18:07where the loudest cheers in the audience
- 18:09came for those streamers who were just
- 18:11connecting with people.
- 18:12>> They've built friendships basically with
- 18:14their audience. So, of all, I think in a
- 18:15world of AI where justformational
- 18:17content, which is this thing happened or
- 18:19this is what the gut microbiome is, is
- 18:22going to become commoditized. The thing
- 18:23that isn't commoditized is content that
- 18:26creates relationships with audiences and
- 18:28then as you say then converts that
- 18:30relationship into stronger experiences
- 18:32like IRL events and so on and so forth.
- 18:35I've got a couple more ideas that I I
- 18:36haven't fully shared with the world yet
- 18:38but I'm just I'll wait for the right
- 18:40time about all of this stuff.
- 18:42>> So it's not one piece that is adding the
- 18:43value. It's the ecosystem of pieces. So
- 18:46it's having something to say that only
- 18:48you can say. Let's call that your
- 18:49personal playbooks. Let's call that your
- 18:50personal intellectual property. It's
- 18:52having the people or your community that
- 18:54you're going through life with, right?
- 18:55Let's call that your ideal customers,
- 18:57your ideal personas. If you want to make
- 18:59it a clinical definition of in marketing
- 19:01speak that that gives rise to a personal
- 19:04brand. When those two things touch, you
- 19:06then end up with a personal brand,
- 19:08right? As if by magic, you end up with a
- 19:09personal brand because you've got
- 19:10intellectual property and you've got an
- 19:12ideal customer who connects with that.
- 19:13And then you you are the person who
- 19:15embodies it. So you you give rise to
- 19:17that. And then the question is, well,
- 19:18how do you make money from that? Well,
- 19:20you productize it. You create products
- 19:22and services. And it's the product and
- 19:24service ecosystem that makes money. It's
- 19:26not one product or service. It used to
- 19:28be that you could just have a a product
- 19:29or service that you offer. And now it's
- 19:31the product and service ecosystem. The
- 19:33people that I see making the most money
- 19:35at the moment, they don't do one thing.
- 19:37You don't do one thing, right? So, if I
- 19:39look at uh your personal P&L, you've
- 19:42probably got 27 different ways that
- 19:44money came and hit your bank account
- 19:46last month. There's speaking, there's
- 19:47podcasting, there's AdSense revenue,
- 19:49there's sponsors, there's shareholdings
- 19:52in different companies that you've got.
- 19:54Um, there might be some one-to-one
- 19:55coaching that you might have done. There
- 19:57might be an appearance fee. There might
- 19:58be some book royalties. There's multiple
- 20:00books. Uh, there might be some software
- 20:02that you've launched. So there's all
- 20:04this stuff that sounds crazy and chaotic
- 20:07in a pre-AII world, but in a postAI
- 20:09world, it's not that hard to create all
- 20:10these different products and services
- 20:12and to be launching different things and
- 20:14to be going on a journey with people and
- 20:15having a product and service ecosystem.
- 20:17I'm the same by the way. I've probably
- 20:18got 20 different things that you know
- 20:20that I'm involved in at any given time.
- 20:22>> I was reading yesterday that the for the
- 20:24first time I mean I was reading a few
- 20:26things. One of the interesting things I
- 20:27read is that Spotify said their best
- 20:29developers haven't written a line of
- 20:30code since December thanks to AI, which
- 20:32again is a whole another conversation.
- 20:34Maybe we should touch on that. What are
- 20:36the occupations that you genuinely
- 20:39believe won't exist 5 years from now as
- 20:42we know them?
- 20:43>> People say lawyers are going to be
- 20:45disrupted.
- 20:45>> Well, I recently had a law legal case
- 20:48that I had to resolve and it was going
- 20:50to cost us £50,000. So, $60,000
- 20:54uh as a start the process with a law
- 20:57firm. We took matters into our own hands
- 20:58and we used Claude and we actually fixed
- 21:00the process and resolve the process by
- 21:02spending 20 a month, $20 a month. And
- 21:05Claude gave us a coaching session on how
- 21:07to handle it. Gave us multiple decision
- 21:10tree pathways. Gave us the documents
- 21:12that we would need. Gave us an Excel
- 21:14spreadsheet of do say this, don't say
- 21:16this in the negotiation. And it made me
- 21:18realize, my goodness, what a lawyer's
- 21:20going to do. Uh because if all they do
- 21:23is charge for time for money to
- 21:25regurgitate contracts, I don't need that
- 21:27anymore. Right?
- 21:28>> Multiple reports say legacy legal tech
- 21:31and data firms have lost roughly 20% of
- 21:33their value so far in 2026.
- 21:35>> 280 billion was wiped off the value of
- 21:37publicly traded companies like that in
- 21:39the last week. Like it's wild. Um
- 21:43because we're not going to need that. I
- 21:45don't believe we're going to need these
- 21:46business models as they currently stand.
- 21:49I think they're going to have to change
- 21:50and adapt. I think a lawyer needs to
- 21:52take a completely different shape. Part
- 21:54business coach, part lawyer, part prompt
- 21:56engineer. They're going to be the key
- 21:58person of AI in the room who the
- 22:00lawyer's job will be to work with you on
- 22:02your AI prompting and help you get the
- 22:05resolution. You're probably going to
- 22:06need a lot less of a lawyer's time. Blue
- 22:09collar work has been devalued. And we've
- 22:11seen people who work with their hands
- 22:12and people who uh turn up to your house
- 22:14and fix your house in a devalued role.
- 22:18And it could be in the next, you know,
- 22:20uh, couple of years. These are the roles
- 22:22that are elevated the most and that
- 22:25plumbers regularly earn more than
- 22:26lawyers simply because the nature of the
- 22:29economy has changed. One thing I've
- 22:30learned over the last 25 years is the
- 22:32pendulum swings. Things that very few
- 22:35things stay the same. There is always
- 22:37this swinging pendulum. And the swinging
- 22:39pendulum is like, oh yeah, white collar
- 22:41work behind a screen is the high value
- 22:43thing. Oh, no, it's actually blue collar
- 22:44work with your hands. You talked about
- 22:46supply and demand. We dis the government
- 22:49disrupted the natural way children go
- 22:52out and find opportunities in the world
- 22:54by making university loans come along.
- 22:56And they said, "Oh, everyone can just
- 22:58take out a university loan and go to
- 22:59university. In fact, you must and you
- 23:01should go go to university. Get yourself
- 23:03in debt or else you'll never get a job
- 23:04anywhere if you don't do a university
- 23:06degree." And lots of young people who
- 23:09should have been plumbers, electricians,
- 23:10and concreers and brick layers went off
- 23:13and became a m got a master's degree in
- 23:15the mating habits of butterflies and you
- 23:18know some random degree that doesn't
- 23:20have a job attached and they ended up in
- 23:2160 70 $80,000 worth of debt to get this
- 23:24degree that no one was asking for. That
- 23:26market distortion means that we now
- 23:28don't have many plumbers and
- 23:30electricians and the blue ocean is now
- 23:33being a trades person. If you love the D
- 23:35CEO brand and you watch this channel,
- 23:37please do me a huge favor. Become part
- 23:39of the 15% of the viewers on this
- 23:42channel that have hit the subscribe
- 23:43button. It helps us tremendously and the
- 23:45bigger the channel gets, the bigger the
- 23:46guests.
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