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Why Most People Get Entrepreneurship Wrong

Episode 71 · 29 April 2026 · 1 hr 4 min

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Can Anyone Become an Entrepreneur? Why Most People Get Entrepreneurship Wrong

Can anyone become an entrepreneur? Starting from Peter Diamandis's article, Randy Lorensen, Dr. John Oberg and Anthony Marino argue about the answer. They cover why the average founder is 45, not 25, why boring businesses in the trades can beat startups, and whether AI makes it easier or just more possible.

Is the American Dream still alive, or has it just moved into a new age bracket? We explore why the most successful founders aren't 20-somethings in Silicon Valley, but experienced professionals over 45 who are leveraging AI to modernize "boring" industries like plumbing and HVAC. From the rise of the 55+ founder to using AI as a personal sommelier and coding assistant, this episode breaks down how to build a life of abundance by solving real-world problems with today's tools.

The landscape of starting a business has shifted dramatically. While the media loves the "college dropout" narrative, the data shows that experience and networks are the true drivers of success. We dive into why "boring" businesses are often more resilient than tech startups and how AI tools—from debugging code with a screenshot to acting as a pocket sommelier—are lowering the barrier to entry for everyone. Finally, we look at the disruption of the transport industry as robo-taxis become profitable and what that means for the future of urban space.

The Average Age of Entrepreneurs, Boring Businesses, and Small Business Owner vs Entrepreneur

What you'll discover:

  • Why the average entrepreneur is 45, and how networks, capital and apprenticeship shape who succeeds
  • The two 8-year-olds who used ChatGPT to build a $100,000 stuffie business, and the network behind them
  • Small business owner vs. entrepreneur: why the definition matters (and "chuck with a truck")
  • Boring businesses in the trades and services, and taking 100% responsibility for creating value
  • The psychology of risk: turning down backers, fear and side hustles
  • In the Abundance Briefing: an AI sommelier, the "delve" effect, everyday AI agents, and Waymo's profitable robotaxis

Timestamps

  • [00:00] Is entrepreneurship really the American dream? Peter Diamandis's article
  • [01:10] The average entrepreneur is 45, not 25
  • [02:07] Plumbers, electricians and the trades: the many kinds of entrepreneurship
  • [03:04] Networks, capital and the apprenticeship model
  • [05:07] Can anyone become an entrepreneur? "Hell no"
  • [06:05] Two 8-year-olds, ChatGPT and $100,000 in stuffie sales
  • [08:06] The network effect: when dad is a venture capitalist
  • [09:58] Is it easier to start a business today, or just more possible?
  • [15:50] How AI collapses the cost of starting: SEO, websites and FP&A
  • [17:47] Why definitions matter: small business owner vs. entrepreneur
  • [22:50] Opportunity-driven vs. necessity-driven entrepreneurs
  • [24:08] Boring businesses: the opportunity in trades and services
  • [29:32] Diamandis's definition of an entrepreneur
  • [32:26] Taking 100% responsibility and creating value before you get paid
  • [37:03] The Starbucks example: who creates the value?
  • [38:39] Turning down backers 10 times: the psychology of risk
  • [41:17] Are most entrepreneurs scared when they start?
  • [42:50] Side hustles and lowering the barrier to entry
  • [44:39] Break — Sponsor: AG1
  • [45:29] Abundance Briefing — An AI sommelier for your wine cellar
  • [49:20] The "delve" effect: how AI is changing human language
  • [53:30] AI agents for everyday work: screenshots, scripts and step-by-step help
  • [58:28] Waymo's profits, Tesla robotaxis and the scale problem
  • [1:04:32] Wrap-up

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About the hosts

This is a hosts-only episode with no guest: Randy Lorensen, Dr. John Oberg and Anthony Marino. (Host bios are on the host pages linked below.)

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Meet the hosts: Randy Lorensen · Dr. John Oberg · Anthony Marino

Transcript

A full transcript is below. It was generated automatically from the episode audio, so expect some spelling errors in names and terms.

[00:12] right? It seems like this is people say this is the American dream and we're going to discuss today if it really is, right? And this article uh Anthony shared with us was a uh Peter Diamandis had talked about how opening your business is becoming a record and easier to do than ever. Uh you know one of the things he hits you with right away in this article is that there's 1.56 million new applications between basically 3 months from November to January. uh the highest three-month period since tracking began in 20 or So, uh what are what are your guys' like like big picture and we're going to get into the into more of the details, but what are your big picture feel for this article? What can people expect or what were your big takeaways and things you learned from it? — Anthony, you want to go first? I got a — Yeah, go ahead, John. You you got the — I the first one he he I've said this for years because there's been a lot of studies on this that the the normal entrepreneur if there is such a thing the average entrepreneur by mode is not 25 years old they're 45 years old.

[01:19] They've been working in industry for 25 years uh 20 years. They've got a network of people. They know the industry. They know the problem set. And those are the entrepreneurs that are successful. um and and they do it as a team of people, typically two or three people that kind of get together and found companies. And I love that he talks about that entrepreneurship is about venture capital for a group of people, but barbers are entrepreneurs. You know, I think about um you know, people in Europe who've been six or seven or eight family generations in the family business, whether it's, you know, wine- making or hospitality or running a bed and breakfast or like those are entrepreneurs, too. They're running a small business. And so I think fundamentally, you know, we we think about entrepreneurship, we think about venture capital and exit and wealth creation is a pretty typical tech entrepreneurship, but there's there's a ton of other kinds of entrepreneurship. Plumbers, electricians, all the trades, you know, auto body shops. Like I I just think that this was such a great article from that perspective to kind of give people a broader view of solving problems. I don't agree that everyone that solves problems is an entrepreneur.

[02:23] There's lots of people in big corporations that are not entrepreneurs that also solve problems really well. But I love I love the concept he had. — So John to follow up on this many so you mentioned that entrepreneurs are over 45. What he actually points out in this thing is that the biggest the group that's growing the fastest are the 55 and over are people that are growing at unprecedented rates. Um why tell people a little bit why is it important or what what why 45year-olds not what people think 25 year olds that most entrepreneurs stem up from. — I mean look candidly most 25 year olds just in in intuitively or by experience don't understand the problem set of the industry like someone who's been in the industry for 20 or 25 years and they don't have the networks to people purchasing the product. They don't have the networks for capital. They don't have the the professional networks that somebody who's been in the industry for 45 years. Not to say that a 25-year-old can't be successful, but people forget that Bill Gates had a network with his father built in to what he was doing. You know, his dad wrote a million- dollar check and that's that's a million dollars a long time ago. It was worth a lot more than it is today. And he had a network of people built in. I don't know if that's true for Michael Dell or not, but like like there are just things that you need to be successful as an entrepreneur. By the way, you can get that by doing 200 interviews with stakeholders. you can get a lot of that network. You can build that information.

[03:43] And one of the things I hear smart adviserss tell young entrepreneurs is go do 200 in-depth interviews in the industry if you're going to start at that age. So I'm not against that in any way, shape or form. I'm just acknowledging that the truth is like I was I was in Europe recently. I talked to someone who was fifth or sixth generation in their wine business and for 20 years they worked in their parents' wine business and then in the year 20some the parents handed it over. This has been the apprenticeship for, you know, most of recorded history has had this type of apprenticeship. So, I just think what you're seeing has been true for 20,000 years and now we're just finally naming it correctly, which I love. Well, I I think some of the people you mentioned, right, Gates and Dell and all these a lot of the tech people started really young and I think one, we're seeing the outliners and you're talking about the people that are the most successful, but the majority are in that older band. But I also think tech is a little bit different. If somebody's doing something really cutting edge tech, a lot of times the kid is more knows more about it than the older person. So that — Mark Beni off at Salesforce started at Oracle for years. He was working with Larry Ellison for a long time. So I think for every story there's a counter story. I think we just I just want people to have the real information like little bit of the cart before the horse.

[05:07] You know the question was can anyone become an entrepreneur? And the answer is hell no. No you can't. Not everyone can because not everyone has um the the um the work ethic to get it done. You know, John mentions interviewing 200 people. I mean, I can't imagine trying to interview 200 people in a in a um in an industry, but it's probably necessary if it's a highly competitive industry with lots of options and you're trying to find, you know, the the edge in that particular market. It it's a tremendous amount of work to run your own business, to come up with an idea, to figure out the market, to to then reach out and and find supportive suppliers, manufacturers, um, you know, uh, capital and so forth. Um, let me let me, you know, go back to the the article I sent you guys this morning about the 28-year-old in I read the article and there's a lot to it, but two eight-year-old kids have generated $100,000 worth of revenue selling what everybody calls stuffies, which are little stuffed animal ugly animals. And they did this not on their own, okay? They they they did it with they had an idea and then with the help of their parents and guidance who kept them on uh an appropriate path for an they were able to leverage the Reddit community. Um they were able to leverage chat GPT. They they they they created some basically stick figures of a fat blob is is what they call because they were targeting GLP1 suppliers. They uploaded the the the stick figures, if you will, to Chad GP2, gave them a complete rendering of what a manufacturer would need in order to produce the product. And then the parents got involved, helped them out, and and off they went. So, there were guard rails for the 8-year-olds. But the point is, these little guys, two brothers, worked really hard. So did the So did their friends. So did the manufacturer who put up the capital to, you know, to do it. And it's just a tremendous amount of work that went into making this happen. It's a cute little story. Two 8-year-olds make 100 grand.

[07:46] There was a lot of effort that went into it to make it happen. If you're not ready for that, you know, get your get your resume up on LinkedIn and go get a job working inside a company so you can learn, you know, more about how to run a business. Um, because it it takes just a tremendous amount of effort to do it. — By the way, dad is a general partner at a venture capital fund. I mean, just so we're being clear about like networks available, dollars available, understanding the adventure, like I just think it's worth like it's worth stating like that that is not all not all networks are built the same. — No, it was definitely definitely a you know, a headline grabber, you know, um to get get you to read the article. There's, like I said, that's the point. My whole point is it ain't that easy, right? You know, we talked last week or a couple weeks ago about the two um entrepreneurs in California who made a got a $400 million business going in the um GLP1 business. You know, they they you know, they they hit it right at the right time. They they started selling GLP1s. There's only two of them working or whatever the case might be. There has to be more to that story. You know, — look, I I've got I've got I've got people that I know that know them and I've talked to them about that. Here's the point though that I'm trying to make that I that I wish that people who are interested in this topic would grab and that is that those the stuffy story and the GLP-1 story, those are one in a — barber shops, plumbers, these people run real businesses and make real money, right? And and and can and build an entire durable business around all of this for generations now. Some of those businesses are changing. I recognize that AI is going to put some people out of business or fundamentally change the way that small business works, but there are real small businesses that have been operating for generations and generations and generations. And the apprenticeship model is alive and well in many many industries. And so, you know, you can try to make the fast hit venture capital, what like that happens for some people, but a lot of people get burned there, too.

[09:49] — Sometimes slow and steady wins the race. And there's a lot of ways to make money in very old industries. I just wish people wouldn't poo poo that. That's — Well, I I want to go back to Anony's story. I love this story. Okay. Um and I I love the story of the guys with the 400 million or I think they're on a 1.8 billion run rate this year, blah blah blah. Like I wish the media gave us more of this, more abundance, more positive news. And yes, I understand these eight-year-olds. Okay, great. Like you just said, they have venture capital. But what I hear when I hear that and what I hope people hear is if these two eight-year-olds can do this, what can I do? Now, to Anony's point, they better — Hold on. Pause. — Let me The eight-year-olds didn't do it, Randy. Like, that's the point I'm trying to make is if they had a dad, — you just cut me off in the middle. They got coaching and they did it. Okay. The point is it's a good story. The second thing, if somebody's 25 years old and they really want to do this, — then they should go do it. And if that those 8-year-olds agree, — they have that network. But if you're 25, you can go network. You can go meet people. You can go knock on doors. You can write emails. You can write letters.

[11:04] Like, if people want to do this, the opportunity is there. And a lot of this is the tools. And like a big part of what's happening, it's a lot easier to start a business than it's ever been before. Now, is it easy? I'm not disagreeing with Anthony. No. Hell no. Starting a business is hard. We have We did a whole episode on this. It's hard, but you can do it if you want, and it's never been easier. That's the That's the — Yeah, I agree. I agree with all that. The knowledge set you can get from AI, the ability to go get the information those 8-year-olds had if you can prompt an AI, is more available today than it's ever been in human history. Fully agree. and learning work ethic at someone's knee I think is still the same problem it was a thousand years ago. — So I I just think that there's — Anthony you got something to say here. You disagree. Let's go. — No, it's not that I disagree. I just have a hard time with the word easier. Um there are fewer I what's the what's a better term than that? It's not because easier implies easy, you know, and and to John's point, entrepreneurship um has been around for thousands of years, right? I mean, it's it's this is nothing new. Um but it it isn't there is there are some barriers that have been taken down that it is you are more able to gather information and make you know decisions um about what what you want to do and what might work and might not.

[12:36] But none of it none of it's easy. It's a it's a it's grueling to do to do the work. you know, that dad picking up the phone and calling his, you know, venture capital buddies to help with this these 8-year-olds. That that that's not an easy thing to do because think of think of that messaging. Hey, I you want to put in 100 grand to help, you know, two my two eight-year-old kids. — Got it. Got it. — Yeah. But these two kids, they wouldn't have been able to dump it into AI like like even with those parents. — This didn't happen 10 years ago, right? Like like there's tools now that I don't give a if you give the parents the credit or the kids the credit. There's tools that have made this easier and we all think about the things that we do. Like yes, because we all have a hundred years of experience cuz we're ancient. Some shit's just easier because we've learned and we have skill sets that an 18-year-old or an 8-year-old or a 28-year-old doesn't have. But every one of us knows that there's so many things we can do so much faster, so much more efficiently with in today's world with today's tools.

[13:40] — This this has inspire actually this story has inspired me because I have a um an idea for a tool, a handheld tool. I'm not going to say what the handheld tool is because you guys will steal it. But it inspired me because I didn't I didn't really know how I would present it to somebody. Uh but now that I can see two eight-year-olds uploaded it to Chad GPT, I'm going to do a pencil drawing and see what I come back with. But it's it is inspiring to know that there's you know there there remains so much out there. You know, there always has been, right? You could always be an apprentice to a electrician to a carpenter to you know a home builder whatever the case might be and work like I did for 40 years inside of a you know group of corporations so you can get experience and mentorship and you know learn what not to do not more than what to do uh when I when I finally got off off my butt and started my own business.

[14:46] So, you know, I think I just think we're we're in a a to your point, Randy, that there's tremendous abundance available out there. Um, you just it's just not it's not everyone's going to just, you know, be a lottery ticket. — Here's the good news. Here's the good news in all of that. The things that are really hard, like if someone's like, I don't want to be an accountant and I don't have accounting. Well, AI can tremendously help you on the accounting and finance side. If you're not good at business planning, it can help you with that. If you're not good at financial analysts like FPNA, it can help. Like there's so many things that like one of the things Diamandis asked was what if you're not the CEO type? If you're not the CEO type, there are ways you can get very lowcost solutions today and then you can go to mentors and say, hey, here's my plan. You know, shoot it apart and a really smart mentor is going to help sharpen that plan for somebody. So, I think to Ry's point, like it is much much much easier. And I think that that the small business is going to go through a renaissance here and and with much lower barriers to entry. Randy, — I'll give you a great example of something that's easier. When I first started a business 15 years ago or so, I built my own website. I didn't I didn't I wasn't trying to put a bunch of money into it. I was sho stringing. I didn't even know if there was a business there.

[16:01] And I was, you know, I was like, let's get some checks before we really go broke doing this thing. I had to learn how to build a website. I had to download software. I could build a better website today and I guarantee you five to 10 minutes using AI than what I did back then. Right? I actually went and looked that old website's still up because it's still working and I haven't updated it in about 12 years. It's horrific. I mean, not an exaggeration. In 5 minutes today, I could do a better job with AI. Then I realized what good is a website if nobody can find you. So, I had to learn SEO. I became an ex SEO expert, but it took me months. I would go to the gym and listen to podcasts on SEO and I had to I mean I spent hours and hours and hours educating myself. And now could I put this into AI and be as good as I was at SEO then? Maybe not. Could I get 90 95% of the way there? Yeah, in like under 30 minutes, right? So there are a lot of things that are just much lighter lifts and there's more opportunity. And so I I want to get into some definitions of John. This is usually Dr. John's area where John wants to be very succinct on language. Um but one of the things in the article he talks about an entrepreneur and he's got a very broad umbrella as an entrepreneur. I I look at a difference between a freelancer, a small business owner and an entrepreneur. And I think he's putting all of them under one umbrella. But I think it's, you know, to me, I don't know. When you guys hear small business owner and you hear entrepreneur, I think two different things. I maybe What?

[17:40] — Yeah. Here's here's what I'm going to say. Like if it's if it's true that the Eskimos have 800 words for snow and if it's true that context matters when you're using an AI, then we'd better get super clear about what words mean and no more of this like, well, this means something to me because if it means something to me that's different than the whole rest of the world, I'm going to get garbage in, garbage out all the time. Just like we do with communication between two people, people talk past each other. So I think the more nuanced we can be in our language like the English language has had less and less words used every year for the last I don't know how many years but I think we need to use more nuanced language that's more specific and more broadly accepted because if we don't do that and we keep going down the path of my truth versus your truth which is code for my perspective versus your perspective like we need to use the words that mean what the words mean so that we can get really clean context and get better faster answers. to move the human race forward. Not because of anything else. That's I mean that's all I'll say on that. — So for our purposes, I'll just tell you what I think. I think that the guy that goes and becomes a plumber and is just one man. I call him a chuck with a truck. I consider that a small business owner. And I think that's noble. I'm not I'm not making any good, bad, better, best. That's not my point. My point is I think what a lot of people what think of as entrepreneurs is a small business owner, right? Um, you know, somebody that opens a restaurant and runs a restaurant as a small business owner and God bless them because they're a big part of building this country.

[19:13] Entrepreneur is that guy that takes starts a plumbing business, then hires a second person and a third person, and the next thing you know, they've got 30 trucks running around the neighborhood or five or 10, but they're they're actively growing and building. I think of that as the entrepreneur and then the freelancer might be the person that you know does whatever maybe you know historically it's a website designer or you know it could be a bookkeeper or whatever somebody that just they work for themselves they've got clients they market they're not to me that's the — the whole that to me like that's the part where I get sideways because Miriam Webster says it's one who organizes manages and assumes the risk of a business or enterprise. So when you put that word into an AI, whatever it means to Randy, unless you want to redefine that every time you put it into an AI, it's going to pull something like Miriam Webster and say one who organizes, manages, and assumes the risk of a business or enterprise. Now, a freelancer then is a subset, right? A small business owner is a subset of that. This is why we have superersets and subsets of things. And and look, at the end of the day, this is all code in an AI. So, and for communication, the same thing. But how many times have I watched people get into arguments about the definitions of something because this means something to me. This means something to me. But we can't even have the conversation until people agree with the definition. So I accept that's what it means to you. I hope you accept that Miriam Webster says something different online. And then when you go to an AI and don't define it like you're So that that that's where I think — Yeah. I don't know. To me there's always this is where you're talking about the 800 types of snow, right? like she's basically defining the small business and the entrepreneur is the same thing.

[20:51] I think — you guys get a super set of a subset. — No, you guys are catching yourself coming around the corner. It really doesn't matter, right? An an entrepreneur by definition is what John just talked about. Randy, it doesn't matter that you know you don't want to consider the chuck in a truck an entrepreneur. He is. She is. They're an entrepreneur. It doesn't matter if they're banging keys and creating agents and codes or if they own a cabinet company or you know a plumbing company whatever the case might be they they are an entrepreneur by definition so but and it does it doesn't matter so I I don't know what this discussion — the reason I'm I the most important thing I want people to take away is you can do any of these like being a freelancer I think even though it technically isn't an entrepreneur by either of our definition I think it it still works in this conversation, right? And and by the way, I think one of you said earlier, maybe as Anthony, if somebody really doesn't want to start their own business, the other option, I think maybe he talked about in this article, they can go find somebody that is an entrepreneur or somebody that's a business and go work with them, right?

[22:00] Some people's skill set aren't meant to be the CEO, they're meant to be the COO. It may maybe outside the scope of this conversation, maybe not, is like in the future, it may be that there's more of a career path like bifurcation where it's like some people are definitely going to train to go work for big companies. Other people are definitely going to train to go work for for small companies and and then it's someday be able to take over that company is on on the journeyman kind of apprenticeship route. And so, but I think about like the big big companies that have 70 or 100,000 people that work for them. It's a different skill set to navigate that than it is to navigate apprenticeship and journeymanship of running a small business. And so I I just I wonder if that's going to be more um separate in the future or not. I I don't know the answer to that. — How much of this do you think is opportunity driven? In other words, you know, dig digitizing stuff and AI and all these things that make it easier or drive costs closer to zero. How much of it is that and how much of it is necessity that people need to start a business because you know their career path isn't Well, that that was a this one of the things we touched on earlier in our pri prior discussions prior to this was what season of life are you in and what are you you know what how what would you do in different seasons of of your life? If I I assume I'm certainly not 25 years old anymore, but I assume people in their 20s they're they're they've got visions of grandeur. They haven't they haven't, you know, been likely they haven't been through the gauntlet. So they're they're thinking I'm going to create something that's going to change the world and you know get me the yacht and let me hang out with DiCaprio and so on and so forth can versus the 55year-old person who's been through hell and back and now is going to you know maybe have a more nuanced and practical approach to becoming an entrepreneur taking advantage of an entrepreneurial opportunity presented to them. it it may be a very boring um non-technical business that is leveraged by the new technology that we have available to us and the new resources we have available to us. So, I think it depends where someone is in the in their career path and what they've been through and how they're going to approach what we what I'm calling practical like what businesses could you start, right? And I mean this is a pretty long list but if you were advising right a kid or I I mean I guess it could be a an 80-year-old right I mean that's another thing that was interesting in some of the data in this article is the number of businesses being started by people that are 80 plus is at an all-time high as well. And so what what businesses would you recommend people? you know, the the um there there's kind of a not a hierarchy, but you know, you a business where you're solving a unique problem for a lot of people that have that particular problem. So that this would be in my mind someone with tremendous technical skills. They've they've found, you know, an FPNA model.

[25:35] John, that was a great example, you know, of — what's FPNA? — Financial planning. — Yeah, financial planning and analysis. — So, give me your books, give me your cash flow statements. I'm going to, you know, I'm going to tell you how good you are, where you can spend your capital, where you shouldn't spend your capital, and it's going to be done in 15 minutes because I've built this model, you know, that can that can do it for you. and then you could take it to your strategist, your your partners and so forth and have a discussion of where the where the the the holes are in the boat there. I I would tell people to look at boring businesses, businesses that that aren't exciting, quote unquote, aren't aren't cutting edge, you know, things that that that aren't going to be AI um in danger. You know, building a house. Yeah, we're likely to have robots and so forth on the job doing some of the dangerous work, you know, automating some of that, whether it's maybe with um you know, uh your printing uh uh options which are seem to be taking hold, but climbing in an attic to fix an air conditioning unit, you're always going to need someone to do that, you know, pest control, um things like that. So, I would look at boring businesses. Um, and again, it depends on where you are and what capital you have. You know, buying a business. John mentioned um apprenticeships and passing things down uh from uh the dad, the grandfather, the dad to the son. I said, I had to sell my business because none of my kids wanted it, you know. None of none of my kids wanted the business. And I John didn't want to buy it from me. He could give it to his kid because he wasn't ready for it yet. you know, he was too young. So, I'd look for those type of opportunities. You know, someone someone that wants to cash out and because you're 50some, you've got a network of friends that maybe can raise a few million bucks and go make something happen on your own. So, you know, you know, the answer is it depends. Um, you know, stage of life, how much capital you have, what you're willing to put into it. Um, — well, and I'm gonna I'm gonna jump in here. It's what are you good at?

[27:52] — Yep. What do you love doing? What do you want to spend your time, talent, and treasure doing? And what mark do you want to leave on the world? Those are the four questions I've talked to you about both of you, for the last 15 years. And it holds true at any stage of life. Like figure out those four things. — Yeah. That you know, there's a lot of data that boomers are what an exactly what Anony's talking about. There's lots of boomers that have had businesses that have sustained them and their families their whole life and they can't find somebody to sell it for. I mean, we've had discussions, you know, recently we had a guest talking about what you need to exit and a there's a lot of boring businesses what Anony's talking about that I think that the right young person that comes along, they could either just take them and keep going or if all of a sudden you got somebody, you take over a business and they're still doing everything on, you know, pencil and paper and sundials and abacuses and uh, you know, you could modernize or use AI or do a lot of other things to probably some of these businesses, right? Um, so I I do think there's a lot of opportunity there taking over existing — No, no question. And you know, you know, the business I sold, I I know I I was tempted to go and buy it back at a not in the not too distant path. Actually, that opportunity is probably still there. And I can think of a ton of digitization that we would employ. I mean, we would take out pretty much the whole back office of that business. the inventory management would change. Um, shoot there a lot of we take a lot of cost out of that business. Uh, for sure.

[29:30] — I I want to hit on another thing. I one of you mentioned this at the beginning, but this is really Peter in the article, one of his main things is really he kind of defines again Marian Webster would be happy, but he defines an entrepreneur as somebody that solves problems. I think John you said that right and and so you know is there a problem and the bigger the problem the bigger the opportunity right so I think that's really a good way to look at it is what problems do you see I mean I've got a business I'm spinning off of my main business because I had problems inhouse I started using automation to fix these problems and then when I started talking to other small business owners they were like oh I would like that for my business or that's cool right like and so it kind of all fell together almost accidentally just but I saw the problems I had. So I I do think his idea of his concept of wanting to fix problems is a misunderstood thing about entrepreneurship, right? — Yeah. This that that's kind of like old school, right? You know, solving a problem, building a mouse trap, you know, all of those finding a new tool that you know you need to build a crib or whatever. Um that's that's that's great. It's also foreseeing where problems might um people don't really realize it's a problem. You know, I'll give you a simple example, but it's it's real. The changing landscape of you know, it's completely going to it it is so different than it was 24 months ago. And I can't I I'm trying to envision what it's going to be 24 months from now whether it's uh video where the video gets delivered how it gets delivered how it's viewed on what kind of devices are it viewed you know Google changes the rules of search every 20 minutes what's the impact of the LLMs uh on search you know is it going to is it are we is it going to be become a circular thing where it comes back and it's the same old same mode because these LLMs are going to start charging just like Google does. Where the hell is that going? So, if you've got, you know, a a mindset around that and you've got a good grasp of it today, that would be a business that I would highly recommend people think about if that's your if that's your specialty today, that specialty is changing. You better get ready for it. there may be great opportunity for you to be a be a person on the leading edge of that because it's um it's like standing uh in quicksand I — I love that concept right cuz marketing has been a things and there's this has been a business it's just going to look different in the future yeah I mean the little guy definitely has an opportunity there well another thing Peter talks about in this article is he talks about the two critical decisions that people need to be willing to make if they're going to be an entrepor reneur, a business owner, right? So the one is taking 100% responsibility for your financial future and the business, right? Not 80%, not 95% but 100%. Um, and the other one is this is kind of what we talk about solving problems, but accept that you have to create value before you get paid, right? So — you better understand empathy for somebody else's problems because just because you think it's a problem doesn't mean someone's going to pay you for their problem. I mean that's a huge part and empathy I think this will drive more empathy in the world for for good — So what I mean what let's talk about the take 100% responsibility. I mean I don't want to hand wave over that. That's a big deal right? If you aren't willing to do that you probably shouldn't start your own business right?

[33:15] — you guys agree with that? — Isn't that your responsibility anyways? take 100% responsibility for your your your revenue whether you're working for a company, your big company, little company, or for yourself. I mean, isn't that I don't find that — Yeah. I mean, I don't So, I don't find that as an earthshattering statement by him. It seems — such a smart guy. He has a way of just, you know, feeding you Pablo sometimes. — What percent? — I think that's true for an entrepreneur. Maybe not true for someone who's not an entrepreneur reading this. Like I think that's, you know, for people that don't understand archers, they're looking for that. I don't know if that's I mean — I I don't think the average person, if you hear the conversations going on in public now, agree with you, Anthony. Like they the the average person thinks that the employee is taking advantage of everybody and CEOs make too much and maybe they even do, but they do. That's what the market pays them, right? Like there's there's a lot of people that just think they're owed a job. and just go to work to collect a paycheck and they're not trying to maximize dollar. Like when you were in corporate America, how many people were trying to maximize dollars and how many people were playing politics and trying to get ahead of the guy in the cubicle next to him?

[34:31] — Well, so to answer your question, almost everyone was trying to get ahead one way or another. And I think we shifted the conversation to um from from being responsible for the revenue that you bring into your home. It's it's it just doesn't of course it's 100% your responsibility. You're making a decision whether you whether you've decided to take a you know a a a clerk's position or to try to climb the corporate ladder. are taking full responsibility for the income that's coming into that. You you control that 100% of the time. You can choose not to get you can go on public assistance and choose to go on public assistance and you know have that for your income. So I don't understand that his his I look at it — I I don't think it's that anything to to discuss. Of course you're responsible for your income 100%. Now what's the other thing? Let's keep — okay obvious to everybody and then the other thing was you have to accept you have to create value before you get paid — right to me these are in the same vein right but I don't think again I I think employees a lot of times they're not they're just like I get paid to do a job and they're not thinking about creating value and by the way that's true for business owners too I think it's but that's a mind shift that I'm not sure everybody is comfortable speaking.

[36:01] — I think it's also bad bad leadership. Great great leaders help the entire team know how to create value. So now we're going to get into a whole separate conversation about what good leadership is. Let's let's take that to a whole another episode. Like we should pin that one and and have an episode on on that — But but Randy makes it does make a good point about, you know, people not understanding the concept of value, — you know. Sure. And and to his point about people, one of the reasons people think that they're deserving of a job, just deserving of this paycheck, I showed up at Starbucks and I should get paid is they don't realize that they're creating value that they're that in the aggregate of these tens of thousands of baristas around the country, they're creating tremendous value or not. Right. So, yeah, part of that it's a it's a good discussion. Your your point's well taken, John. It's a good discussion to have. And you know why is that number one and and two what companies are have solved that problem? — Well there's different ways there's different ways to create value right you use Starbucks I mean the barista is creating value by offering a service and making people coffee and everything else but so is the entrepreneur that opens the Starbucks. They put up the capital.

[37:14] They build the building. I have no idea what it costs to open a Starbucks but somewhere between hundreds of thousands or millions I'm sure. Right. Um and so that person that sets that up and then John's talking about good management those are all um important parts of entrepreneurship. So is by the way Howard Schulz, the guy that started it to come up creating the concept and the infrastructure and the processes. Those are now that's a multi-layered you know you got different layers of of service there where the small the plumber we were talking about before it might all be in one but those are all valuable things in my opinion. — Yeah. uh for our listeners if you really want to uh study a successful entrepreneur journey, Howard Schultz is an amazing story that started very very small and the and to the earlier point that that John made about interviewing people and talking to people and studying the the um the industry, it's in fact he it should be a textbook — on on how to go about probably is I think my recollection is a hundred stores in the first 10 years and the next 10 years they got to 10,000 stores.

[38:29] — So his his last thing or real big point is that the real barriers are psychological. Now I don't know if I fully agree with that but what are your takes on that? He he talks about that it's really psychological. I finally I agree with something he said uh from personal experience. I you know I had this long career you know as a big mucky muck in some big ass companies and I o over those years at least 10 times people came to me and wanted to back me in my own business and I would I didn't pull the trigger. I I I I was making a ton of money. I had a family with kids going to school going to college. I had I I rationalized away fire, you know. I said, "You know what? That could burn me. I'm not going to I'm not going to play with fire." And I just didn't do it. It was totally psychological. It wasn't had anything to do. I knew I had the skill to do it. People were going to put up their own money. I didn't even have to put up my own money to do it. But I guess what I would have g given up were the stock options and the salary and the security, which was all fake, by the way, because you're working for a big company and they could be done with you tomorrow.

[39:37] Um, you know, I was working for a company, one of the largest retailers in the world. We we bought out by a halfass bankrupt company and they fired all of us. You know, I reported to the chairman and the next day I didn't have a job. — So, it's just different kinds of risks though, Anthony. I think that's the thing people need to understand is no matter what you do, big company or entrepreneurship, each one has a set of risks. just be aware of what those risks are and then choose the ones you're most comfortable with are the ones you want or the one but I just to say that one is more risky than the other is a is a point of view, right? And I'm not going and so like my wife has a very different point of view than I do and we both think that the op the other one's job has more risk associated with it and we're both right for ourselves and we're wrong about each other and and so like she's chosen the thing that's less risky for her. I've chosen the thing that's less risky for me and we're both right. — Yeah. I would phrase it um just with a a different word. Don't do anything you're unsure of that that you're that you're not committed to or unsure of. You know, — committed. Yes. Unsure. I don't agree with that. People do things unure all the time.

[40:44] — Maybe hesitant about, you know, if you're going to be hesitant about it and afraid and and constantly be thinking, geez, should I have done this or not? I mean, if you're going to do it, you got to go do it, you know, and and fight fight fight to the end and fight through all, you know, every entrepreneurial story, I don't care if it's Michael Dell on a local lemonade stand, you're going to you're going to run into a brick wall at some point along the way and it's going to look like the end of the world and you're just going to have to fight either fight through it or, you know, give up. — Yeah, I I don't agree with that fully. I think most entrepreneurs are scared when they start right the fact is if they start the business if they if they take the leap to walk away from the corporate job there's at least some fear now they over you know real courage is overcoming that right or if they are raising a bunch of money and going in debt like we've all all three of us have raised money before right when you start taking money and you go in debt there is a there's a little fear there or for most people there are And whether it's that it's raising money. So I think the fear is okay. I think the fear is natural. I think most people have it. And part of it though is overcoming it. And maybe we're saying the same thing. But — yeah, it's the commitment. You know, maybe fe, you know, if I use the word fear, probably not a good selection, a good term, but you you really need to be committed to the move. You know, it's, you know, if you're going to throw the pass, commit. you know, — well, what about what about people that start stuff as a side hustle?

[42:28] — A lot of that. — It's a great way it's a great way to try their risk risk on differently, right? It's a great way to try something on and see if it fits, which I think is a you know, there's a great article by Laura Nash out of the Harvard Business Review years ago that talks about success that lasts. And she writes about like how to try things on. It's a great article for anyone thinking about this. It's again, success that lasts. Flora Nash, HBR, great article about how to how to take on the side hustle. — Yeah, especially when you're you don't have, you know, family commitments, you you're on your own, you know, you don't have uh kids at home, uh things like that, you've got the time, you know, instead of, you know, finding some way to waste away a weekend, you know, doing something on the side, I think, is a is a great idea. I think it's great not just for the possibilities of earning an income but it's great intellectually you know you can you can learn something you can test something you can feel it out um yeah I think it's I think I think the technology really enable you talk about something that's become easier to do technology you know from whatever you want to go from the internet to AI and everything in between uh mobile communications and all that have really enabled that type of thing Not that certainly wasn't easy to do pre — All right. Well, I encourage everybody to read this article. We'll put it in the show notes. Um, but you know, all the numbers say business ownership and opening new businesses. It's growing uh for all age groups. I think we agree that it's never been easier. Although, you know, Anony's point that it's been very, you know, it's still difficult, right? like it's not a it's not a walk in the park and we've talked about some of that. Uh but I just think the barrier to entry from knowledge, capital, some of those things is shrinking and shrinking and shrinking. So it's, you know, people got to figure out for themselves, right? Is it is entrepreneurship right for me? Do I want to be a freelancer? Do I want to be Jeff Bezos or you know where where in between? So, uh, gentlemen, I have enjoyed it and, uh, I will talk to you after the break.

[44:39] — Here at Tales of Abundance, we know that fitness is just as important as money or milestones. It's one of our five Fs, but lots of other things. Taking care of my body while I build my life is one of the more time consuming and difficult goals to chase. That's why we're partnering with AG1. It's a daily drinkable habit less than a minute that's formulated with 75 plus vitamins and nutrients and designed to support energy, digestion, and immune defense. It even has a few grams of protein uh that we're all chasing these days. If you want to try it with our affiliate link, you'll also receive a free AG1 flavor sampler plus vitamin D3 plus K2 with your welcome kit when you first subscribe. $72 value. Go to shop.dream 3 eg1.com/tails. — Listeners, welcome back for the abundance briefing. Uh, John, you're excited about this AI Somalia job. So, — It used to be my wife. So, my wife and I used to keep all of our like wine, what we liked inside of an app that dealt with like what wines we liked, what we'd been drinking, and we had this whole thing where we kind of kept track of what we enjoyed. And so now we use AI and what we do is we take pictures of the wine bottles we drink. It goes through, we rate the wines about how we drink them and it's able to give us recommendations about what we like, what we don't like. It's able to look up pricing, check the internet. It's pretty cool. And we've actually taken pictures of the wine we have at our house. So it knows like what wines we have in our house. It tells them when to drink them.

[46:12] It's amazing. And so it's it's like having a somalier in your pocket — that tells you what you enjoy. And the cool part is now with AI you can take pictures of the wine list or take a picture of the menu at a restaurant or and it's just so cool because and it actually feels like you have a Somalia in your pocket — all the time. We love it. — You guys you edited it or Amber did or what? How where did this — Yeah, we just created a project, right? And the project we we just told you know the AI to like give us the project knowledge, give us the project instructions, create the project and then we just took pictures of all the wine that we have. We've taken pictures of the wine we've been drinking at different restaurants and that we like and we tell it what we like and what we don't like about the different wines and we can take pictures of menus and super — Yeah, it's a good that's a great a great idea. So, you've got a database of the things you like. You can take a picture of a menu and say here's what's available. Tell me between you know with you it's like $11 and $40. What which — 11 and 15 but whatever. Yeah. which wines, you know, fit the bill.

[47:16] That's that's I mean, that takes such pressure off you. Um, — well, you can take a picture of the wine list and take a picture of the food both, right? And let let it put all of it together and then then you can ask the Somalia at the restaurant to give their, you know, like and and compare the two. Uh, it's super fun. — I I think that's really cool. I'm trying to think. So, I am way less wine wise. I guess, right? And I can't, but I do the same thing. I've taken pictures for years. When there's a wine I like, I'll take a picture, but then I can never find the wine and I don't choose deep enough. So, the pictures end up being a waste. So, this this could even be good for somebody like me that knows nothing about wine. — Well, in the earlier in our episode, you know, this think about the entrepreneurship here that someone could apply, you know. — Making it easier on, you know, people that aren't as sophisticated as John. uh just to select it, you know, a decent bottle of $40 wine, you know, that's a that's kind of a sweet spot for people.

[48:19] Well, now $40 to $80, but um you know, what's a good wine here that's you know that fits my taste and you know, we're having we're having uh fish tonight, you know, fill me in. So, I think it's — Well, and I think creating an app like this is where I think apps could be in trouble. Like this 5 years ago could have been an app and it was an app that we used. We stopped using a paid app and started using AI because we had better success with it. — Wow. That's that's both bad for the business being disrupted and really good for the people doing the disrupting and you know opportunity. — Yeah. It's great. And — that's right. — And I think the difference is you and you and I approach wine differently, right? Like you know something about it, I don't. Uh that app is going to be completely different for I mean same thing but different use cases. So, — and look, to be fair, you say I know something about wine. Let's be clear. I know very little about wine. I know what I like. I know what I don't like. I've had some really nice wines in my life, but usually that's because of who I'm with, not because of me. — All right, let's go to our next topic. I I found this one really interesting. Um, that AI is changing human language. And the example, the example I heard this on a on a different podcast, but it was and they talked about the the Delve effect.

[49:38] The word the word del is being used 10 times as much in AI as in normal human language. But now because of that, humans are starting to use the word delve more than ever. But in particular, it's showing up like crazy in academic papers, professional writing, and all of that since chat GPT launched. So, have you guys seen examples of this or where I mean, have you noticed other — No, tell me more about — AI has a writing style like you see that for sure. And there's AIS that are specifically designed to not sound like AI and like there's the typical like, you know, the three-part argument and like there's just some really typical kind of AI writing styles that you see. So, I'm not surprised by this. My hope, going back to what we talked about before the break, my hope is that we actually get into a more nuanced language and that AI drives us to better communication. And Randy, you're the first person that ever said this to me, like if you know people could become better communicators if AI holds them accountable to actually being better at prompting and teaches people how to not talk past each other.

[50:47] — Um Anthony, what you said tell you more. What do you want to know more about? — This was this was all news to me. I didn't I didn't quite understand the um I didn't get a chance to read the article. And uh so were there other examples besides Dells that it talked about? How else was it changing the — Just any words. Yeah, there's several words that it it uses more than humans tend to use them. And maybe it's because it's pulling out of certain sources, but I look at this similar to if you take a bunch of kids, right? Like my youngest son especially, they're coming up with new language, right? And sometimes whether it's kids, whether it's, you know, culture or whatever, they come up with a saying and the three of us have never said it in our life and then all of a sudden a certain percentage of people start using a word more. So it's it's not any different than humans doing this or culture doing it except — you know you have to start asking some questions like okay now AI is impacting the words we use, — Yeah. I mean this is an age old thing though. I mean, you know, uh, in business, you know, well, let's circle back to that and let's doubleclick on this and, you know, so things things catch on and, um, get overused and I'm sure this is this will be a similar situation. It'll this too shall pass probably. I imagine. I thought I thought this was about, you know, phrasing um and things like that. But I guess, you know, I — I took this I took this more to mean it's bringing more words back into use rather than creating. By the way, AI uses analogy all the time and and metaphor and it and and it it may try to create idiomatic language, which is the circle around doubleclick thing like that's, you know, but I think this is not about idiom. This is really about using more language, wasn't it Randy?

[52:39] That's what I took from it. — Yeah. just different I the way I mean we we can each several own takeaway. My my takeaway is more that it is it is impacting human behavior and humans are using Dell more than they ever have because they're not using as much as AI but the AI is actually impacting human behavior and what words we use and how we do it. — So it obviously had an impact on you. It's it's a so what for me. — All right. Well for that we'll go on to the next topic. This will be another so what for Anthony. Um AI encoding assistants now are using vision. Um I do this all the time. I mean I literally probably do this 50 times a day now. Do you guys do you do this where what it's talking about by the way is you take a screenshot, right? And you snip it, you put it in the AI and say debug this for me. Or I use it on websites all the time. If I can't navigate or I don't know where to click, I literally just take a screenshot and say tell me where to click. cares what I'm trying to do. You guys do this. — You doing that with your own websites or websites that you're visiting?

[53:44] — Anything I'm working on, Anthony? I'm doing I am going really really deep with this Hermes bot right now and my my own um AI agent and I'm doing not an exaggeration. I've done hundreds of things that I have no idea how to do. And I ask the AI and it says do this, but then even when it gives me directions, a lot of times I don't know how to do it. So, I take a screenshot. It says, "Go to this website." I go to the website and set up blank. I'm like, "Okay, I'm here. I don't know where to click." And then it walks me through. It's like, "Oh, on the left, click here." Um, but I've done it with, you know, I've had code that, by the way, I can't write code. I've had Claude write code for me and then it doesn't work. And I put it in and I say, you know, I take a screenshot and I say, "Why isn't this working? Here's the error message. Here's the error message I got." Right. All of that type of stuff. Um I mean John, I think you're nodding. It's It looks like you use it. How do you use it? Similar, same, different. — Same. Same. Yeah. All the same stuff.

[54:46] It's like, "Hey, I need help doing this thing." And it takes me step by step through it, and I'll take pictures of the terminal, take pictures of the code, take a picture of the website, took a picture of an error message. I've even used this inside of the car when a light came on. I didn't understand the dashboard. Took a picture of the dashboard and said, "What's going on?" And it was able to diagnose the problem. Yeah. I mean, yesterday Julie wanted me to hang some stuff on the side of our house and it's stuckco and the things that I had put nails or screws in in the past didn't work very well. And I'm like, okay, this isn't very good for the stuckco. So, before I did it, I literally took a picture of the stucco, said, "What is going to be my best source for hanging something?" You know, here's what I'm hanging blah blah blah and and doing it that. But I'm using it more for just debugging and coding all the time, right? Yeah. — So, so you say you're coding. What What are What are you coding? What's the output that you're getting from your — Anthony, I've coded all kinds of stuff and again don't know how to code. But as I'm doing things, I have a workflow and the Hermes bot in particular does this.

[55:50] Claude will do it sometimes. It'll say, "Should I create a Python, you know, a Python script to run this?" I'm like, "Sure, it creates it." Well, I don't know how to or check it. — Yeah. I'll give you a real example. I'm writing a book right now for Procina, our medical practice and um I've got I mean almost a thousand academic papers we've drawn on to make sure that we're scientifically accurate and I'm having I wrote code to have it check and make sure that each article is appropriately attributed that I've done it correctly and haven't missed something. Is that code actual? When I think when I think of code, I I think of the the nerds in the back room creating machine, you know, codes that run machines and run agents and things like that. — But that that to me sounds like, you know, just a a very sophisticated prompt, not necessarily. — This is actually internal using code in — I couldn't be further away from that. I'm I'm using it a lot. The Hermes bot I'm running on my business partner's machine in Tulsa right 8 hours away or whatever it is. So he had a machine that was unused. We added a bunch of RAM to it to make it better and but I'm running it from Austin and I'm sending that. So there's a bunch of things that I'm doing.

[57:11] John's saying in terminal. I didn't know what that was but anyway it's just opening sort of like the old DOSs days. I don't want to get too technical here. That's not the best analogy either, but sometimes it wants to do something up there and it's easier for it to write a short piece of code. Sometimes it's 10 or 20 lines long. It's not complex to get that machine to do something better than, you know, or that's how you have to tell it. So, it could be Anthony as simple as writing HTML like a for a — I've done that several times. I mean, I I created this shipping tool, but it — a little FOMO going a full FOMO going on here in terms of am I a fear of missing out on, you know, um what I could be using that I'm not using to help me with the consulting business. So, I got to get myself up to maybe up to speed. It's just a never- ending battle, right? Like, you can get up to speed so fast, but it's just man, it it it can do so much. And if you were up to speed 6 months ago and you haven't done anything, you're you might as well be 10 years behind at this point, right? It's just it's — it's moving fast. So, all right.

[58:19] — Are you using agent? Are you guys using agents at all? — That's at my Hermes bot is an agent. — Yeah, it's really multiple agents working for me. Uh, all right. Our final topic should be a quick one. Uh, Whimo is making money in San Francisco. They're profitable. Uh, and uh, I don't know. It's interesting. It's where's it going? Here in Austin, we've got robo taxis. I just I just read an article over the weekend that they have no limit. Basically, they're going to make robo taxis as fast as they can make them that they're they're so far from demand right now and they're they're ready to go. So, Anthony, you're kind of I don't know, you seem you don't believe the story or the look on your face. What what did that were you saying? Yeah, you know, when anytime someone tells me that uh they're profitable in a that makes, you know, okay, what does that mean? Is that gross profit? Is that fully loaded cotton profit? If if if I wanted to buy the San Francisco Whimo franchise, would I pay a premium? You know, what you know, what's the what's the is it free cash flow? You know, fully advertised and blah blah blah blah blah. They they claim they're doing 150,000 plus paid rides per week right now and that that's turning a profit.

[59:36] — And that's great. I mean, and clearly this thing is um going to be a runaway success in terms of the number of uh rides people are going to be taking in the years to come without a driver. the the the longer term issue is that they're already running into a scale problem where municipalities are are doing out x number of licenses to the multiple companies which means there may present a problem becoming a dominant player in a market. So Whimo gets a thousand taxis, Elon gets a thousand. The next there's a couple more and the names escape me right now. they get a thousand and it limits the market share in a market and as a result of that they're they all have equal pieces of a pie and that's no way to you know run a business. So um I think I think robo taxes are here to stay but are they going to commoditize it in a way that prevents these companies from really having the best robo taxi the lowest price robo taxi? they all going to cost the same amount per mile on on and on. So, I think there are some some issues that have yet to be faced because as always, our governments, whether they're large or small, federal, state, city, or county, all want to get their hands in the pie and figure out, you know, how they're going to u how they're going to leverage this, how they're going to make a buck off of this, and it's going to is it going to present problems to these companies? You're right. They I saw a video today of uh Elon's factory here in Austin. The cars are driving themselves off the assembly — It's pretty amazing to watch the whole the things are being built by robots.

[1:01:30] They drive themselves off the assembly line and they're out out the door ready for business. I mean, — the question is whether he's going to let other people buy them and make money from them or he's going to try and keep them himself. I mean, the cost is so low. Hard to see him having other I mean, I I'm interested in the business model, what he thinks it's going to be. — well, he's not he's not far away, I'm told. Anyway, I don't know if this is an actual true statement of monetizing the Tesla's own by Randy. — In other words, when Ry's car is parked in the driveway, you know, linking that thing up and um having that be used as a robo taxi. So, um I think it's great. This is exciting. This is this to me, this is just, you know, — the Jetson, man. Well, — this is this is, — you know, keep in mind it's going to displace I don't know the time frame, but it's going to displace 3 million Uber Lift taxi drivers, right? I mean, of them are going away at some point. — and then truck drivers, who's one of the biggest employers in the country. So, — couriers, I mean, all this different stuff. But it also creates opportunity.

[1:02:37] It creates safety. You know, one of the interesting questions is when this happens, we have all these parking garages and all these parking spots, but if you have a have robo taxis or Whimos or zusks or whatever, and they're running around town dropping people off, they don't need to park very much and parking space goes way down. That opens up land and real estate, whether it's residential, commercial, parks, you know, we talked about vertical farms last week. I mean, power stations, whatever we need. So — yeah, not hard to blow up a uh parking garage and build a you know a affordable housing or you know some other kind of housing unit over there. So yeah, it's a it's a disruptive but as we've been talking about it's going to create more — Somewhere you know the the network effects if you will or the uh the dominoes that fall. Um I think it's I think it's terrific. Well, already in Austin, like the Tesla robo taxis are way cheaper. They're they're they're cheaper than an Uber. They're cheaper than a Whimo. They're cheaper than everything else. Now, there's not enough of them and people can't get on them, but this is what entrepreneurship is supposed to do, right? Is it supposed to make things?

[1:03:47] Yes, this sucks if you're one of the three million people that that drive that, you know, drive Uber or Lift or whatever for a living. But if you're the riders, which is far more than that, your price just went down, which creates more abundance, which allows you to, you know, spend in other places and making everything cheaper and, you know, in theory more convenient. So, — all right. No, I don't I don't know about you, but when I talk to the Uber drivers that take me to the airport and whatever, they they're not raking in the net profit when you factor in their insurance and the wear and tear on their vehicles and so forth. So, yeah, it's a job, but you know, there may be something better for them out there. — Agree with that, too. All right. Again, everyone, download uh subscribe, tell your friends, tell your neighbors, and uh gentlemen, I will see you next week. In the meantime, let's all go out and spread a little abundance this week, — Listen and subscribe to the podcast wherever you get your podcasts. Click follow for more content like this, or go to talesofabundance.com to join our community and get free tools.