Transcription
Zack Thompson, our comments from the last video have been peppered with hate. People think we are idiots. People think we are nonsense.
"You don't need to shout. That is so loud in my ear."
"Sorry, it was not loud. Sorry, guys. Maybe we are idiots." [laughter]
"People keep going, you two don't know what you're talking about. Nonsense. You've taken one one [snorts] clip, you've reacted to it, and you've not really understood the idea. And that was Gary Economics."
Okay, so we reacted to Gary Economics last week and we got some really, really strong opinions. Question, have you watched the new documentary?
"Answer, no."
"Okay, good. There was a bit in the documentary where he's going around, he's speaking with different people on wealth and entrepreneurship and business, and there was a guy that I recognized and his name has popped up a few times on previous podcasts. You see him in the business world. His name is Samuel Leeds. Do you know who that is?"
"Yes, he boxed our friend of the podcast, Rob Moore."
"He did. And he beat him."
"He does. He beat him. He does like property type stuff. I think he's It's going to sound weird. I don't know if this is even worth putting in. I think he's like mega religious as well. Those are like probably the three things that I know about him."
"Yeah, I I didn't know that. I I know that he sells courses on how to buy property to make"
"Jesus loves property. That's what I know." [laughter]
"Like Jesus was born in a stable."
"Yeah. And that's a commercial property. So imagine what you could get on that nowadays."
"[ __ ] hell. You are right. You think how much do [laughter] you think?"
"See see so James Martin also friend of the the podcast does property in a way that doesn't feel [ __ ] But on the documentary, it was so like I have to sell it hard. You see all these reviews."
"Is he in it?"
"Who?"
"Samuel Leeds is in it."
"Samuel Leeds is in it. Going headto-head with Gary Economics."
"Oh, I thought it was one of those cuz I've seen a few things where it's like this was meant to be in it, but they decided not to put it in cuz they put it in. Anyway, I don't have clips of that."
"But I have I've just I've gone on the internet. You know what we do? I found some random clips of Samuel Leeds and I thought we don't know loads and loads about him, but"
"we can watch some clips and we can just make up our mind and maybe give our opinion on whether he's a shyster, an entrepreneur, whatever it is. My feeling is those that can do and those that can't teach and those that can't teach PA."
"Teach [laughter] PA. Exactly. I explain to my kids how to make money."
"All right."
"Well, let's see what he Let's see what he explains."
"Daddy, how do they make so much money?"
"That's a good question. So, what I do is I buy [snorts] houses. You know the houses that we saw that were really nasty and they were dusty. Buy them, but not with my money. Whose money do you reckon I use?"
"THE BANK'S MONEY."
"You're very smart. It's exactly right. So, I borrow money from the bank. So, this isn't my money. It's the bank's money to buy this house. And then what do we do with the house after we buy it?"
"Make it beautiful."
"Yes. Make it beautiful. And whose money do we use to make it beautiful?"
"THE BANK."
"THE BANK'S money to make it beautiful. But then once it's beautiful, what do we do with the houses?"
"Flowers."
"Flowers on it, maybe. And then what?"
"Sell it to a rich family."
"Yes. Sell it. And then what happens when we sell it? Well, we make money. And then we give back the bank their money with a little bit of interest. And what's left over? What do we do with this? We can spend it for holidays."
"We can spend it for holidays. Yes, we can buy more houses and we can do whatever we want. That's how I met money."
"That's how Samuel Leeds makes money. Let's just have a little comments. Everyone's everyone's really lovely actually. So, it's pointless looking at that."
"I like it. I actually do like that."
"Well, what do you like?"
"Is that controversial?"
"No. No. I think he's great at taking a a complex idea and simplifying it."
"I like it. Simple idea for kids to understand. Um, and for anyone who's got children, it's very hard to do that. Like when your kids like, 'What do you do?' I don't think my kids know what I do because it's just makes no sense. I think they thought it was something about KFC at one point. But,"
"and I mean, in a roundabout way, it kind of is."
"It was like, 'Oh, you get meetings. Could you get meetings with KFC?' Something like that that they come to a conclusion about once and stuck with. But taking a complicated idea and showing it to kids is important and useful. But is there a danger in the you take the bank's money, you make a house beautiful, you give the bank their money back with some profit. That isn't a guaranteed outcome, is it? If I was really being nitpicky."
"Okay. So, you're a Samuel Leeds fan."
"So far, I like that."
"Okay."
"But I don't know much about him, so I'm going to keep an open mind."
"Well, you're going to love this then." [laughter] "My kids always fly economy while my wife and I fling a good time."
"Cheers."
"Oh yes."
"And that's it. That's the clip. I'm sure. Wow. Leaving them behind with with strangers. Great parenting."
"It's just rage bait, isn't it? It's that like sensationalism, whatever it's called."
"That is that's you know we"
"that's not really happening though, is it?"
"Yeah, of course it is."
"No, it isn't. He's not really left his kids there. He's probably said, 'Oh, uh, you haven't got any couple of seats spare, have you? Just while I do a little stunt for I've got this many followers to like the [ __ ] air hostess or whatever.' You think he's really left his two kids on their own in and and and also you think that's allowed?"
"I mean, I think there's a nanny in the back with"
"Right. You've just booked some flights."
"Yeah."
"Yeah, I have."
"Right. And then when you try and book and put Noah at the back of the plane totally away from you, what what does it say to you when you try and do that?"
"Yeah, but they wouldn't let him go at the back of the plane cuz he'd smash it up on his own. He'd go at the back of the bus though, wouldn't he?" [laughter]
"Do you think that's uh So you just think it's rage bait?"
"100%. It's like, oh, the algorithm is looking a bit slow this week. My impressions aren't really there. That's the That's the issue with this kind of digital economy, isn't it? Like"
"when people when when people just post rage bait to get the to go viral."
"Okay. Right. Well, there we go. But so so so far"
"the issue why would you need to do that though"
"is the other thing is it"
"I think his his lesson I think I've seen him post about it on LinkedIn but his whole thing is like my kids don't they can earn it. So if you if you type it in on Google or do you want me to Samuel Leeds kids fly economy. Is there a post that he's done? Right. Reuniting my kids after they flew economy while my wife and I went first class. We intentionally choose to not let them have the luxury of first class as we want to them to aspire to work hard like we did to afford these things. Before anyone runs in the comments, yes, we did have their nanny with them in economy. They desperately wanted to fly first class. And while it could be easier to upgrade them, we know that is often kinder to not spoil. The moment we all met back after the flight was priceless. And there's a picture of him, his wife, his three kids, and not of the nanny."
"Right. So, there you go."
"So, you think it's still rage bait?"
"Yeah."
"You think it's I think it's true."
"No, I don't think it's true."
"Well,"
"I don't I I don't think you need a nanny for three kids either."
"Yeah, but if you're a millionaire, of course you do."
"How old were them kids? They weren't old. They were old enough to not need a nanny. Come on. It's not real. Not when you're sat in economy. You can't sit in economy on your own. You know that, right?"
"What about AI cannot take your house, right? Why [snorts] property beats AI? AI is going to take your job. But you know what? AI will never be able to take your investment properties. Your investment properties, ones like these, will always hold their value and will never be able to be replaced. People will always need shelter over their head and it will never be out of fashion to have a house to live in. So buy property now before AI fully takes over."
"AI, you you've got some strong feelings around all this AI scaremongering at the moment. But can we just acknowledge that there are such things as property crashes, aren't there?"
"Yeah. and and and if the economy comes to a complete standstill because as he said AI is going to take your job, there will be no money in the economy to buy houses with."
"So so so his argument might well let's buy the houses now and then who's going to pay for them?"
"Yeah, exactly. So what's your So AI"
"it's like that thing of there was a thing that I saw on a podcast of like two DJs who are in like the festival business and they're like well when AI takes over people want the festivals how will they pay for them like it stops there doesn't it like yeah but look I've got this physical thing yeah but you're thinking of it in current economy terms like if AI removes a huge part of the workforce and so there's like millions of people out of work they're not going [ __ ] for that. I've got loads of time to buy property and go to festivals now."
"What? I could do a Reno job." [laughter]
"No, but our mate said we could talk about Renos and I thought he meant the car." [laughter]
"So, yeah. What's your What's your You see it all over LinkedIn now. You're behind. You're not doing enough. You're spending time on manual tasks. AI is the new tool to create urgency. You know the FOMO. It is the new FOMO, isn't it? of like you should be doing loads more, you should be I I was writing something earlier and it's it's not very profound, but I'll just say it. But I was just thinking of like you just like start like these are all the thoughts you just you scroll through social media. It's like start a faceless YouTube, set up an Etsy store, drop ship from China, go live on Tik Tok, go live on kick, buy a boring business, do a renovation job, Bitcoin, trade in car boot sale. It's all the same."
"Just like a bit of I'm doing poetry slam at the minute in my spare time."
"[laughter]"
"that."
"What is [snorts] it?"
"What?"
"What's that? What you just read to me?"
"I've I've not I've not finished off the post yet, but the idea is going to be it's around like there's all this fear to do something, but you need"
"You really showed the audience how the sausage is made then, didn't you? You showed behind the the tears behind the clown a bit there. It was quite nice."
"Do people like that?"
"This is how I'm post." [laughter] [snorts] "I think that Britain is having a big cup of tea with your dad. I think that Britain is sausage and bangers. I think Britain is a tikka masala. [clears throat] Britain. Britain. Britain."
"Yeah. What was your question anyway? You were asking me a question at the start of all that." [laughter]
"What's your take?"
"Why don't you go back and renovate that question?" [laughter]
"What's your what's your thoughts on people using AI? There's there's always this urgency that people are trying to create like a fear-mongering thing. like what's your take on people using AI as the new scarcity?"
"Uh I think it's like any marketing, isn't it? It's some some of it is a bit divisive."
"Um but I think it shows like any new Claude update, you get this sudden surge of like scammers."
"And I get it more than anything. And and I think what I'd ask people to do like don't I don't want to just sprout off a load of things to you but just in your LLM of choice get like ask the question what is the objective current take on AI what is possible and what is not um I asked it the other day and it said that AI agents are massively overblown like what people are calling AI agents doesn't actually exist it's just like"
"connector with a routine in Claude or or whatever like that is not an autonomous agent That's just something automated that you've said go and it just runs in the background. That that that is not a brand new thing. Other things have existed like that before. It's just the branding."
"Um but I think people probably need to be careful of the way it's branded now."
"This isn't a podcast about AI, but like cyber security probably gives people a reaction when they hear it. Like they immediately jump to a conclusion like boring. And I think AI is getting to that point where it's a new AI plat Oh yeah, I've heard that it's AI powered. Yeah, I've Yeah. Like it's not people ears pricking up and going. So I think there's probably an opportunity to have like a market differentiator."
"Oh god, I'm so tired. I've just been talking to qualified prospects all day without any wait time."
"How have you been doing it? Cuz I've been cold calling people on my mobile and I reckon I've spoke to one person."
"No, no, no. Stop that right now and use nu.ai. Why? What? What? What? What does Nooks do?"
"It finds me the right people to call and it calls them and it connects with them over and over and over again."
"So, you're saying it's Nooks.ai and I can just be speaking to qualified decision makers all the time."
"No, with a better connection rate."
"Wow. Nooks.ai. You you I remember you saying it and it sparked thought the other day because I saw it. You had a boss that did platform as a service, didn't they? But when everyone was doing SaaS, they did platform. I saw someone the other day and they were like, we are services of software. I was like, I don't know what that means, but you've you've swapped"
"services software."
"I was like, I like it."
"Yeah, it's good. He used to have a lot of he used to have a lot of things, that guy. He was like he was a big fan of saying the only and the first as well."
"So like you'd ring up his opener was like you'd ring up and you'd say the company name. I I'm calling from X company. Before I get ahead of myself, I don't know if you've heard of us before. No, I've never heard of you. Oh, well, we're the only X in the industry. I was just looking to find some time in the diary to show you how that might work for you."
"I love that."
"That that was his opener. I mean, it's feature-y, isn't it? But it's like but the curiosity hook of like we're the only, we're the first, whatever."
"It it would make people go, 'Yeah, oh yeah, go on then.'"
"There's a brilliant book called like the 10 immutable, what is it? 10 immutable laws of marketing or something where it's like either be the first or be the only mate. Will you just put your foot away while I'm trying to speak to you? Right. Okay. Anyway, you ready for this? Nervous 17-year-old socially anxious 17-year-old tries to network to find investor. Right. Don't know. This is his short form content."
"Hello."
"Hello. You mate? How are you guys doing? What's it? Was it a party over there?"
"What happened?"
"Tell me what happened."
"Well, I just went up to him and said, 'Well, what's going on over?' He said, 'Oh, I got no idea.' And they just walked off for me."
"You didn't try and talk to my property?"
"Well, not straight away. No."
"Very interested. How about music tomorrow? Are you guys interested in some opportunities? Oh man."
"Hello again, mate. You okay?"
"Here party."
"No, no, I'm not here for a party. What's cool? We're doing we're doing um a property um tour."
"Yeah, he's the best the best negotiator for properties."
"So, he gets like 20 30% below below market value. So, he s"
"What the [laughter] What was that?"
"Hello. You here for a party? I I don't think that's a good network. I mean, I don't think it's good sales. Like, I'm I'm here to talk."
"I have no idea what I've just watched. That was bizarre."
"His social media strategy is all over the place. I like it. Um, he you know what? When I when I was watching him there in the he seems like he could be a nice guy like I think he is, but I but I just always have that fear that when people are doing like he on the documentary I I he came across and I was just like, 'Oh, it just feels quite shy.' But it is just a bit like I'm sure loads of people have have made money and that's why he's passionate about it. But there are a lot of people that probably have been sold courses and being put into Gary Stevenson's point was you tell people to take out loans and to not tell their family and make get this money to invest in a course even if you can't like afford it. spend this course because you'll make your millions, which is dangerous advice. And I I agree with Gary economics on that. So, if you're watching the comments, there's your bit. I agree with Gary economics. Can you stop ringing my mom and telling her I'm a scumbag?"
"Yeah, I agree. Like the the sales style that we tend to tell people to to take is a very like bad news upfront version because it's very like sales is very easy to get someone to a point of excitement and in the moment like your emotional brain's faster. So you get into the moment of like, oh yeah, yeah, I want I want to do it. That bit at the end of like remorse afterwards, like [ __ ] I've just taken a loan out to buy this house and I'm going to pay that back and stuff. Like you probably want to have engage that part of the brain up front."
"Purely ethically, like probably to to Gary's point of okay, well, when you take that loan out, does it put any strain on you or your family? Yes or no? Yes, I wouldn't do it then."
"No. Okay. Well, just just talk me through it and let it will just it will probably make the closing a bit less, but the people who go all the way more and ethically, you'll probably be sat in a better spot and maybe you'll have to fly an economy. Who knows?"
"Who knows? But his thing is actually I think it's such a good product. I would be doing myself a disservice if I didn't try and convince you to take out a loan. And I understand the belief cycle there. I also think it can be very dangerous. But mate, listen. It's the end of the road. It's been really good to see you today. Please, can you give me a task? And please, can you make it Samuel Leeds related? Okay, here's what I want from people. Okay, I want you to post a picture of Samuel Leeds and say, 'Samuel, are you from Leeds?' in your comments and in the uh as a post. And then in the comments, tag me and Jack so we can see that you've done it. The first person who does it, I'll give £500 to. The second person who does it will get the mystery prize,"
"which is a house in Sweden."
"It's a house in Swansea. Um, yeah. Go and get them."
"Take care."