Nick Coriano is the CEO of Homescape LLC, a consultant for Cervitude investor relations, and author of “Rules for Entrepreneurship.” He has a long history of working in the venture capital, private equity industry, and assisting fellow entrepreneurs in the development of successful business plans. His goal is to help his clients go “from the napkin to NASDAQ.” On this week’s podcast, Nick discusses how he fostered an entrepreneurial spirit at a young age, learned to pivot in the professional world in the wake of the market crash, and developed his “run to the bag” mindset.
From a young age, Coriano has always had an entrepreneurship mind and was very involved and interested in the stock market. Never did he realize he was going to be self-employed after law school. 14 year old Coriano learned about the job as CEO and discovered that this is what he wanted.
Coriano runs Homescape LLC, which started off as construction and then turned into a holding company where they hold a real estate division, a services company where they own 20 different websites, and then the products division.
Coriano states that he only listens to billionaires, not millionaires. Listening to Elon Musk, Bill Gates all of those billionaires advice. Run 2 The Bag is a motto, “go get that money.” The only thing you need to run a business is to have a customer according to Coriano.
Topic brought up from business news like WeWork cancels their IPO, AB signs contract w/ Patriots after release from Raiders, Texas woman steals $2 worth of donuts, CA lawmakers pass a bill that benefits college athletes and OT GOAT – MTA rail worker makes over $344,000 in OT.
00:05 Scott Johnson: Welcome to The MacTalks everybody. I am your host, Scott Johnson.
00:09 Scott Johnson: What up, Scott?
00:12 SJ: That’s my co-host, Chase Hutchison.
00:14 SJ: What’s up guys?
00:16 SJ: Chase, tell our guests and our listeners and his Facebook Live what our program is all about.
00:23 SJ: Alright, to everybody out there, as you may know already if you’re a business owner, entrepreneur, or impactful leader, the Mack Talks is the vehicle that brings you the stories that you need to hear.
00:34 SJ: That’s right. Today, we’ve got an awesome entrepreneur on the program, he’s gonna bring that energy. Super excited to have him on, super excited to hear his story, have him become part of the program. Chase, go ahead and give ’em the intro. Give that man his intro.
00:49 SJ: So, this guy, he eats dreams for breakfast. He’s your favorite entrepreneur’s favorite entrepreneur. Nick Coriano, a.k.a. Nickie Nice Brands, a.k.a. Mr. Run 2 the Bag is on the podcast today. He’s the CEO of Homescape LLC, consultant for Cervitude Investor Relations, and author of Rules for Entrepreneurship. He has a long history of working in the venture capital, private equity industry, and assisting fellow entrepreneurs in developing successful business plans. His goal is to help his clients go from the napkin to the NASDAQ. Nick, welcome to The Mack Talks, man. Thanks for coming on.
01:25 Nick Coriano: Hey, thanks for for having me, guys.
01:26 SJ: Cheers.
01:27 NC: I appreciate. What an intro, man I don’t even need to say anything else.
01:31 NC: I like that, from the napkin to the NASDAQ. I like that. That’s dope. That’s cool.
01:34 SJ: So we actually got you because of a mutual friend of ours, Phil Hall works for…
01:38 NC: Yeah, he’s on here now.
01:39 SJ: Westfair Communications. Phil, shout out to Phil for hooking us up with a great guest.
01:43 NC: Phil Hall, I’m gonna give an award to Phil Hall ’cause this guy is the connector of all connectors.
01:47 SJ: He is a connector, yeah.
01:48 NC: Aw, man. I was just talking to another buddy of mine and saying, “We need to give that guy an award ’cause he’s just always adding value to my life.” Thank you, Phil. I appreciate you my man. I love you.
01:56 SJ: Yeah, same for us too. Phil is a connector. We love Phil, he’s a great guy. I love his stories and love to keep growing with him as well, so. But, thank you for coming on the program. Definitely wanna just jump right in and chop it up with your story, so…
02:11 NC: Let’s do it.
02:12 SJ: Tell us a little bit about how you became an entrepreneur and what drove you into the finance entrepreneurial world.
02:19 NC: Well, I don’t know if I was born an entrepreneur, but I definitely as young as I can remember… I remember being eight, nine, 10 years old going to Disneyland and counting how many windows and garbage cans they had to figure out if I can do it myself. So, I was pretty young then. Started with a lemonade stand when I was a kid. By the time I got to high school I was doing magic shows, which really taught me that I can make $200 an hour. I was like, “Well, I don’t think I’m ever gonna get a regular job at $7 an hour or $8 an hour.” I was making what my friends were making all week for working a half hour magic show. And then threw parties in high school, charged people at the door for that, so the bug started really early on.
03:02 SJ: Yeah, that’s what it sounds like.
03:03 SJ: Where are you from originally?
03:04 NC: I was born and raised in Bridgeport, Connecticut.
03:06 SJ: Oh, cool. Nice.
03:06 NC: So, yeah. My whole life in Connecticut. I mean, I’ve traveled around since, but I was raised there.
03:10 SJ: Shout out to CT entrepreneurs. We got the hard… [chuckle] We got the biggest hill to climb out of all of ’em!
03:15 NC: Yeah, that’s it.
03:16 SJ: Shout out them! [laughter]
03:17 NC: It’s a little expensive here, man so we gotta make the money.
03:21 SJ: We gotta work extra hard here in Connecticut, right?
03:23 NC: And then if you come here, if you go anywhere else they just assume that you have a ton of money. They’re like, “Oh, you’re from Connecticut.”
03:30 SJ: “The guy from Connecticut. You’re a rich guy.”
03:32 NC: Yeah. Right? Not yet, not yet.
03:33 SJ: I don’t know the days that Connecticut was like that, but it wasn’t like ever since I’ve lived here.
03:38 NC: PT Barnum was here.
03:39 SJ: I think it was way back when it was like where Connecticut was considered the pinky out state. But yeah, so it sounds to me like you started to figure it out at a very young age as far as how to make money on your own and how to be self-sufficient. So you didn’t have to go and work for that $7 an hour job, like you were saying.
04:00 NC: Yeah, yeah for sure.
04:00 SJ: What was your first major entrepreneurial thing that you did? I know you did the things when you were younger, but what was your first thing that you really realized that you were gonna be self-employed for the rest of your life probably?
04:12 NC: Oh man, I don’t think I realized I was gonna be self-employed ’til after law school, so it was it was later on. I kinda knew, I tried a lot of things but I always had a safety net. I always had this idea, “Well, I can always go get a job.” But my last job was after law school. So around eighth grade, I played the stock market game. So I learned about stocks…
04:36 SJ: I love it.
04:36 NC: In the eighth grade. And my father was… He was a super facilitator. Any interest I had he would buy me a book or introduce me to a mentor, so I credit him for a lot of pushing me in that direction. But as soon as I told him I played the stock market game, he said, “You should look into this thing about being a CEO.” So 14 years old, I go and look at what a CEO is, find out that they make millions of dollars I’m like, “Hey, I wanna be a CEO!”
05:00 SJ: Yeah, that’s what I wanna be.
05:01 NC: “That’s what I wanna do.” So, from that point on my goal was to be the CEO of the New York Stock Exchange. So, dropped out of college when I was 18. I ended up going back when I was 25, went for a degree in finance. And when I graduated, I said, “Well, I’m gonna get a job.” This is 2009, the stock market crashes everybody’s like, “Poor kid, you’re never gonna get a job.” I’m like, “No, I’m gonna get a job at the New York Stock Exchange and then I’m gonna become the CEO of the New York Stock Exchange.” So, I get a job at the New York Stock Exchange, sure enough, I got an internship there. And about 30 days into the internship I realized I’m gonna blow my head off. I can’t commute for two hours one way, first all.
05:40 SJ: Yeah. And then the high stress environment that you’re in.
05:42 NC: I was in a suit all day, in a cubicle, everybody is stressed, everybody’s moving super fast, but they’re not moving anywhere. They’re not going, they’re just moving super fast. So, I realized then, I was like my dream was crushed. I was 30 years old and I’m going, “Now, what do I do?” I had this hope for the last 15 years of my life, I wanted to be the CEO of the New York Stock Exchange and I’m like, “I can’t stand this place. I am not climbing up this corporate ladder.”
06:08 SJ: Time to make a pivot.
06:09 NC: Yeah, exactly. So I took three years off and went to law school. [chuckle]
06:12 SJ: Yeah.
06:13 NC: It did seem like a hang out at law school for a while. You know, so that’s what I did.
06:17 SJ: Yeah, right? Yeah.
06:18 SJ: Do you regret that at all? Chasing that dream or do you think that it helped you get to where you are now?
06:22 NC: No, I don’t regret it at all. No, I don’t regret it at all. I think I’d still be in the middle, I think I’d still be as they say half pregnant, wondering if like, “Maybe I should go get a job, maybe I shouldn’t get a job.” But that really set it in stone like “Dude, this is not you. You are not gonna climb any corporate ladder, you cannot take orders from people.” My mentor at the New York Stock Exchange was like, “We have a lunch at 1:00.” I showed up at 1:15… Because the first day I got to the New York Stock… Here’s a story that most people don’t know.
06:54 NC: The first day I get to the New York Stock Exchange, and this is my entrepreneurial tendencies, I get to the New York Stock Exchange and I realized at 18 I was sending letters to CEOs trying to get a job. So I had sent a letter to the CEO of GE when I was 18 like, “Hey, you need me.” [chuckle] I didn’t know why I wrote it. “You need me, I’m gonna be a CEO one day, you should probably get me under your wing now.” I never got the callback, but I realized when I was trying to reach out to them, it was super hard to get ahold of them. You can’t just type in, “Hey, what’s the phone number of the CEO of GE?” There’s no email address, there’s no phone number.
07:26 NC: So the first day I’m at the New York Stock Exchange, they put me into the system and they’re like, “Oh, this is where you find all the contact information for everybody at this office.” And I found that the contact information gave me the contact information for everybody at the New York Stock Exchange, including the CEO. So I literally spent the first two days just printing out… I just went there and I printed out everybody’s contact information, like a thief I brought it home and I was like, “I got the golden jewel, yo. I got the golden jewel.” But even then I was telling them, there I was like, “I’m gonna be the CEO here,” and I said that for the first 30 days until I realized I can’t put a suit on every day, this is gonna kill me, suits are expensive.
08:05 SJ: And it sounds like a really high stress environment too, like you hear about and then you add the two hour commute or you could live in a studio for four grand a month.
08:13 NC: Yeah, yeah. What’s interesting, I learned another lesson there. I was living in Connecticut, but I was working in New York and when I got my paycheck… It was a great internship like $35 an hour, I just graduated college, it was great. And then New York takes taxes out and Connecticut takes taxes out. I was like, “Woah, what is this?”
08:34 SJ: Yeah, it’s a double banger.
08:36 SJ: “What are we doing here?”
08:36 NC: Yeah, I was like I’m saving a little money from living in Connecticut, but like you said the option was, “Let me go move into a studio for a while,” I was like, “No, I’m all set with that. I’m all set with that.”
08:46 SJ: So tell us a little bit about the current business that you have right now.
08:50 NC: Well, I run Homescape LLC, it’s a holding company. Underneath the holding company we have about 20 different brands, about three different business models. So we have a real estate division where we hold a bunch of real estate, we have a services company where we own about 20 different websites doing everything from business planning to website design to marketing to investor relations for public companies, that’s the services arm and then we have the products division, which is nickynice.com, which has banknotes, coin, gold bullion, silver bullion, tagsale.com… Tagsale.co, where we do drop shipping, americandropshipping.com where we do drop shipping. I kind of segmented it into that, but it’s just one business, Homescape LLC.
09:34 SJ: That’s awesome. And how long have you had… It sounds like you’ve evolved that into what it is now. So in the beginning, what did you start, what was your main services?
09:43 NC: Construction.
09:44 SJ: Yeah, really?
09:44 NC: Construction. So rewind to 2006… I’m 18, 2000s, so I’ll date myself, 2000 and I start a bunch of sole proprietorships. So I was obsessed with business as soon as I figured out the stock market so I said, “Well, I guess you need to start this sole proprietor thing.” So I started a bunch of… A fashion label, a bunch of failed businesses, a record label…
10:07 SJ: Yep, that’s what we do, yep.
10:07 NC: Right? So I started a bunch of failed businesses and then I said, “Well… ” The construction industry was booming. It’s 2004, 2005 everything was booming and I said, “Well, let’s get into construction.” So I start Homescape LLC. I was doing windows and doors for million dollar homes, that was another aha moment, I was like, “Man, I need to live like this.” [chuckle] I was in these million dollar homes doing a lot of beachfront development and I was like, “Man, I need to live like this.” Dislocated my arm while I was doing windows and doors and that’s when I decided to go back to college. So I took the little bit of money I saved and I put it all into stocks and I turned Homescape LLC into a holding company while I was in college.
10:44 SJ: Nice.
10:44 NC: And then the money I had from stocks I kind of eventually…
10:46 SJ: Another pivot.
10:47 NC: Yeah. Oh, it was pivot after pivot after pivot.
10:49 SJ: Yeah, you have to find your groove.
10:50 NC: Like I said I was a construction company, then a holding company in stocks while I was in school and then when I was in school… By the time I got to law school and I realized I’m not gonna get another job, I took that money and started developing all these online businesses.
11:02 SJ: That’s great.
11:02 NC: And I realized that online was, it was the future. I was like e-commerce, online, I can reach seven billion people, “What?” [chuckle] It was awesome.
11:15 SJ: That’s cool, that’s cool man. So where do you foresee your company going now? Just keep growing more with kind of what you’ve been doing or do you foresee another pivot coming soon or what do you think?
11:28 NC: I don’t foresee a pivot, I know it’s coming.
11:30 SJ: Yeah, just ’cause you know it’s inevitable.
11:31 NC: It’s the nature of the beast. If you’re not where you wanna be, then you’re gonna have to change something. Like I’m not where I wanna be. I don’t have nine zeroes behind my bank account. So until I get there, we’re gonna pivot and move to there. I definitely see a lot more acquisitions of real estate, that’s for sure. We’re definitely moving more heavily on the services side to the public company clients.
11:52 SJ: Now you’re more commercial real estate or residential or both?
11:56 NC: So I started with… It was 2009, the crash happened. Got to… I hit it at the New York Stock Exchange, I’m like, “Man, I can do anything.” I get to law school and I have been telling myself my entire life, “You’re gonna be a real estate mogul.” I have been telling myself this since I was a kid, ever since I went to Disney World and I was like, “Man, I’m gonna buy land just like this guy did.” And my 30th birthday happened in law school and I owned no real estate, and it was like… I’ve heard this a lot from entrepreneurs, there’s certain ages or certain triggers and at 30, I was like, “Dude, you’re a loser, you said you were gonna have all this real estate and you don’t have nothing.”
12:35 NC: And that was a fundamental shift in my mindset, because before that what I would do is, I would price these million dollar properties and I’d be like, “Man, if I just had a million dollars.” Right? Or I’d price this huge hotel, “Man, all I need is $10 million and we’re gonna make it.” And at that point, I said, “Forget about what you can’t do, look at your bank account and see what you can do with what you have in your bank account.” And I had student loan money, so I took my student loan money from law school and I just went on eBay. I had learned some stuff, obviously from real estate classes in undergrad and in law school, and I went on eBay, sorted it by the price, found the first one for $350, it was a little parcel in Arkansas and I bought that for $350, sold it for $1,250.
13:17 SJ: Nice.
13:18 NC: I went back online the next day and within six months I had acquired 30 pieces of land in five states. So I started with land and then, just this year, I moved into commercial real estate. I bought a four unit… Five unit, I’m converting it into four for increased rent, in upstate New York.
13:37 SJ: Okay.
13:38 NC: I’m kind of moving more into commercial but I’m open, man. I was shopping campgrounds last night. I’m open to whatever the…
13:46 SJ: What are your thoughts on real estate? Which you’re obviously…
13:49 NC: It’s high right now.
13:50 SJ: Yeah.
13:50 NC: It’s expensive right now. I’m talking… Let’s date it so that the public knows. We’re in 2019, September, it’s high right now. The real estate market, historically, has crashes every 10 years. The last one was in 2009, we’re in 2019. I got real estate agent… All my real estate agent friends are like, “Man, I sold a home in three days, I’m a genius.” I’m like, “No you’re not, the market’s great.” I think the market’s great, I think the lending’s gonna get even looser.
14:18 SJ: Yeah, because they said they…
14:20 NC: This is a cycle, this is a cycle.
14:22 SJ: It’s like, “They take stuff away, then they give it back, and let you repeat the whole process all over again.”
14:25 NC: Exactly, yeah. And when you start hearing people say, “Real estate’s a no lose investment,” you almost know we’re back in 2009. You can definitely lose in real estate. [chuckle]
14:35 SJ: Yeah, you definitely can.
14:36 NC: People lost their shirts in 2009 so I think we’re at the higher end of it. I think when, as soon as you start seeing, no credit check financing we’re at the end of the bubble and it’s gonna burst. I think there’ll be a pull back, I don’t know if it’ll be as extreme as 2009, I don’t think so. I think it’s gonna come a lot in the commercial space. So I think that there’s a lot of opportunity right now, commercial spaces with e-commerce just crushing a lot of these retailers. I think there’s a huge opportunity in commercial real estate right now.
15:05 SJ: Yeah, because they’re all gonna be going out.
15:07 NC: Yeah, they’re already going out. They’re already going out.
15:08 SJ: Yeah, they’re already… Even all the big ones are. Malls have to re-identify themselves, they’re chopping up those big stores now.
15:15 NC: Well, if you look at malls, I talk a lot about this actually with my other real estate investors. I look at malls and I say… You say, “Look, the retailers aren’t there and what’s happening is they’re moving to entertainment.” Like you go into malls now and you’ll see the Dave & Busters, you’ll see bowling alleys, you’ll see gyms. The gyms are in a mall.
15:29 SJ: I know, I’ve been noticing that too which I think is insane ’cause I’m not going to the mall to go to the gym but apparently some people are.
15:36 NC: Yeah, it’s about experiences and entertainment and what are you doing with your free time? I think as technology… I just saw a talk with Jack Ma and Elon Musk and they’re talking about AI and how that’s gonna affect the world, and they say, “Well, it’s gonna cut a bunch of jobs.” And they had two different views on it. And one view was, “Hey, there’s gonna be less work,” and the other one was, like, “Hey, there’s gonna be less work, man. We’re only gonna have to work three days a week, what do we do with the rest of our time?” So he was really talking about how you’re gonna open up your time, what do you do with that? Entertainment?
16:06 SJ: That’s a great segue into… I’m curious, who do you listen to in the real estate world? Who’s a guy that you… What he says it important to you?
16:15 SJ: Uncle G?
16:17 NC: Uncle G for sure.
16:17 SJ: Uncle G.
16:19 NC: I love Grant Cardone. I try to focus only on billionaires for financial advice.
16:25 SJ: Yeah.
16:25 NC: So I don’t listen to millionaires, I don’t listen to my mom. I love you, Mom.
16:31 NC: I just listen to billionaires, financially. If you ask me who my mentors are in relationships it’s my grandparents, they were married 50 years. So I try to really take mentors that have done it, as opposed to people that are just talking about it, so you gotta show me your receipts man. You know what I mean? If you’re gonna tell me how to make money…
16:50 SJ: Yeah, if you’re gonna listen you better have paved that way.
16:54 NC: Exactly. You guys can talk to me about setting up an awesome podcast. This looks like it’s as legit as hell. You know what I mean? This is a maximal…
17:03 SJ: But some dude who was like, “Bro, I could do that best podcast ever.”
17:06 NC: “Bro, I’ve seen Gary V’s podcast, yeah, I’ve seen MacTalks, I know exactly how to do it.”
17:09 SJ: “Mine would be the best ever but I’m not gonna do it,” but you can’t really take…
17:14 SJ: Do you know Ben Mallah?
17:15 NC: Yeah. I think he’s awesome.
17:18 SJ: I got into… Was super interested in real estate and I started listening to Ryan Serhant, that guy who works in New York City.
17:23 NC: Yeah, I know him.
17:24 SJ: He’s just kind of a broker, but then Ben Mallah, he really knows his…
17:27 NC: Ben Mallah actually… I don’t know if it was right before or right after, but he really encouraged me, he kind of pushed me. I saw his podcast and he’s just so like, “Just do it. I don’t care about how… ”
17:39 SJ: Yeah, he’s got no…
17:39 NC: Grant Cardone’s a little more like, “You need a billion dollars.”
17:43 SJ: Yeah, I know. He’s a little bit…
17:44 NC: Like, “No, you don’t.” You know what I mean? I kind of appreciate that and I actually talked to him. I actually… This is something I tell entrepreneurs all the time. He was on a podcast. Here’s a guy, what has he got? Like $300, $400 million worth of real estate? He’s on a podcast and on the podcast they’re like, “If you pay $100 you’ll get 15 minutes with this guy.” Dude, I sent that $100 so fast ’cause I’m like, “Dude, you need to be around people that are successful. How are you gonna learn unless you’re with people that are successful?” Yeah, I definitely listen to him. But financially, it’s the top… I always look at the top five billionaires. So I’m listening to what Bill Gates says. I’m listening to what Warren Buffet says. I’m listening to what Elon Musk says. Jeff Bezos, love Jeff Bezos, I think he’s a pioneer. But yeah, financially, you gotta have a billion dollars in your bank account for me to listen to your advice.
18:33 SJ: Yeah, exactly. Exactly, right? Obviously, you got your gear on here, Run 2 the Bag.
18:38 NC: Run 2 the Bag. We don’t walk baby, we don’t walk.
18:40 SJ: That’s right. Tell us a little bit about that, about the brand and what you’re…
18:45 NC: Run 2 the Bag, this is just a motto that kinda came up. I actually have it tattooed on my leg too.
18:50 SJ: Nice.
18:51 NC: It’s just a motto that came up. I had interns last year, hired a bunch of interns for my company and I just wanted to get the mindset down that, “Look, man, there has to be a sense of urgency.” I did a short stint in the military and I got hurt in there so I left early but in the short stint I learned something from the drill sergeants and they would always say, “Walk like you have somewhere to go.”
19:09 SJ: Yeah.
19:10 NC: They’re like, “Walk like you have somewhere to go.” And it gave you kind of this sense of urgency like, “Yo, life ain’t forever, you gotta move.”
19:17 SJ: Yeah.
19:17 NC: I always tell all my entrepreneurs and my interns, I would tell them like, “Look man, the money’s out there, but you gotta run there, you gotta get there, I don’t care if your car is broken, I don’t care if your legs work, you gotta get there, man, you gotta get there faster than anyone else.” So that’s kind of where run… The saying came from. And then I’m a domain junkie…
19:35 SJ: Yeah, yeah. Nice.
19:37 NC: I’m a domain investment junkie. So as soon as I think of something, I’ll buy the domain. So we just bought the domain, we just built it out, and now we have businesses in a box packages, so you can get your LLC, your business plan, your website, your business card, everything you need…
19:50 SJ: All as one.
19:51 NC: Yeah, everything you need to start a business on run2thebag.com.
19:54 SJ: That’s awesome.
19:54 SJ: Oh, cool.
19:55 SJ: Yeah, yeah that’s cool. I like stuff like that, it’s pretty neat, I like it.
19:58 SJ: Yeah, it makes it much easier for people who are just looking to get started… Is it for any business? Like you can…
20:02 NC: For any business, but I always tell… This is my one caveat, ’cause I do… I’ve written over 350 business plans, that’s really my bread and butter, is consulting cash wise and then equity wise is the public companies. They pay me six figures, seven figures to consult with them on an equity side. But what I always tell my clients is, “Look, to build a business… ” If you Googled how to build a business in the United States today, what you’re gonna get is a ton of lists from entrepreneurs.com and Forbes.com, and they’re gonna be like, “Form your LLC,” they’re gonna be like, “Write a business plan,” they’re gonna be like, “Get a business card.” All that’s bull, man. The first thing, the only thing you need to have a successful business is a customer.
20:43 SJ: Yeah.
20:44 SJ: That’s true.
20:44 NC: You need money. You need money. People like… I mean I love Gary V. Here’s another one that… I’m gonna vent on this one real quick…
20:50 SJ: Go ahead, go ahead.
20:52 NC: I’m gonna vent on this. Gary V, for the longest time I heard this guy say, “Build your brand, build your brand. The money will come later.” Dude, you’re gonna starve if you just build your brand.
21:03 SJ: Yep.
21:04 NC: Even… And I always say this about mentors, look at what they do, not what they say. Gary V started, he was selling wine, that’s how he built his brand. He may have not been pitching the actual wine but he had a monetization scheme there. So what I always tell customers is, the number one thing you need to build a business is a customer. Get to the bag, run to the bag.
21:25 SJ: Yeah, run to…
21:25 NC: Go get that money but then after that, you’re gonna need some core things, maybe an LLC, maybe a business plan, maybe these things. So…
21:33 SJ: Yeah, depending on what you’re doing.
21:34 NC: Yeah, so I don’t like to push services that people don’t need ’cause a lot of entrepreneurs are misguided. So you tell them, “Oh, what do I need to start a business?” And before you know it, you’re five grand, 10 grand, in the hole, and you forgot the most important part, you need a customer, you need a customer, so…
21:46 SJ: You need a customer. Yeah, you need to plan for revenue.
21:48 NC: You need to plan for revenue. So what I always say is, find a product or a service, test it, and then once you have a customer that has paid you for that, now you understand the process, you understand what you had to do to get that customer in the door and give you money. Now you got a business.
22:03 SJ: Yeah. And going back to Gary V real quick, Chase actually, we did a little Gary V… A little Gary V skit on his new shoes…
22:11 NC: Oh, okay.
22:11 SJ: That we gotta show you.
22:12 SJ: Yeah, we’ll show you…
22:13 NC: I love that. I’m inspired… Listen, I’m inspired by that, right?
22:15 SJ: Yeah, yeah.
22:15 NC: The guy… Here’s an entrepreneur that’s blabbing away online and he gets a shoe deal? Come on.
22:21 SJ: I know.
22:22 NC: Awesome.
22:22 SJ: Yeah, it’s awesome.
22:23 SJ: It’s actually… It’s crazy too, ’cause K-Swiss, in general, is just going towards this entrepreneurial thing and I’m starting to see other shoe lines do it too and it’s pretty cool. They’ve got another line called the Startups, which is kind of the same thing as like…
22:33 NC: Well, I advise my public company clients on this, so a lot of what we do at Cervitude, another brand I have, CE-R-V-I-T-U-D-E, we do investor relations. So they want liquidity in their stock, they want more people to know about their stock. And what I tell them is, “Partner up with an influencer, dude.” These guys got a million people following, it’s… The cost per acquisition on an influencer versus paying Google or paying YouTube, it’s just insane.
23:00 SJ: Yeah, yep.
23:03 NC: So I definitely recommend that, and I think that that’s what they’re starting to realize. You have those brands, like Fila and K-Swiss and brands that were around, Champion even, you know, they were around 20 years ago and they’re making a resurgence.
23:13 SJ: Yeah. It’s funny how Champion came back.
23:13 NC: Dude, full circle.
23:14 SJ: They came back with it hard, dude they came back hard.
23:16 NC: I hated wearing Champions when I was a kid.
23:19 SJ: It used to just be that one, just the C… That little…
23:21 NC: The small one. That one little… And now you’re still not cool unless it’s the big one.
23:25 SJ: It’s high fashion now though. I mean you have brands like Supreme, like very streetwear, heavy brands partnering with old brands like Champion. And that brings us back to what Gary V was talking about with nostalgia and then also what we were talking about with pivoting is people were like, “Oh no, athletes are the only ones that can have a shoe deal.” But then K-Swiss was like, “No, no, no, we make shoes for people that work, for people that are in the offices grinding away that make this whole country move.” So that’s what they did, they came… And I think they’re… I don’t know what their numbers are, but I think it’s a great move.
24:00 SJ: Well, they put themselves in a whole new market because now everybody wants to be an entrepreneur. So it’s like you might not have an LLC, but hey, if you got a pair of shoes that say you’re an entrepreneur, you are right?
24:07 SJ: It’s also hot, it’s really hot to be an entrepreneur right now.
24:11 SJ: Yeah, it’s so hot right now.
24:12 NC: Yeah, yeah, yeah. Well, that’s why I say, do you have a customer, ’cause I mean you may call yourself an entrepreneur but are you getting a bag? Are you getting some money? If you’re not getting money…
24:19 SJ: That’s something that Gary V is, he’s so right about is that it used to not be cool to be an entrepreneur really.
24:26 NC: No, it was horrible, dude.
24:27 SJ: It’s like, “Oh, you’re a salesman.” Like you’re a…
24:29 NC: No, you’re unemployed.
24:30 SJ: You’re unemployed.
24:33 SJ: Yeah, that’s what it was, yep, yep. That’s funny.
24:35 NC: I’m gonna finish this… Check this out on the podcast, I’m gonna end my lives here.
24:39 SJ: Alright, cool. So, so right now, we are going to actually head into Chase’s favorite part of the program, which is?
24:46 SJ: Well, it’s everybody’s favorite part of the program, okay.
24:47 SJ: Yeah, everybody’s part… Favorite part of the program, which is what?
24:50 SJ: Mack move or whack move.
24:52 SJ: That’s right. So go ahead and kind of give a description of what mack move or whack move is.
24:56 SJ: Alright, real quick, pretty self explanatory. If you agree with it, you think it’s a good power move, then obviously mack move it. If it’s a whack move, if you disagree with it, you think it’s stupid, you think it’s weak…
25:11 NC: It’s a whack move.
25:11 SJ: Go with whack move. So that’s it. Those are the rules of the game. I’m gonna bring up just a couple of different topics from the news, business news, stuff you might have heard of already or not, and we’re just gonna chat about it.
25:20 SJ: We’re just gonna riff on it and we’re gonna mack move or whack move. So, topic one.
25:25 SJ: Alright, topic number one. Let me pull it up real quick on my phone. Sorry guys.
25:31 SJ: He went digital. He didn’t wanna have to pay for [25:33] ____.
25:33 SJ: Yeah, I went digital and now…
25:34 NC: I like it, I like it. He needs to cut that out, he needs to cut the fat out.
25:35 SJ: Alright, topic number one. SoftBank, which is WeWork’s largest outside shareholder wants the office space sub-leasing company to shelve it’s embattled IPO process which has received a chilly reception from potential investors. So WeWork is basically gonna cancel their IPO. This is after they were valued, I think in 2018 at $47 billion. Now they’ve taken a $20 billion cut to that valuation, and so the investors are not interested in doing an IPO so is that… So the question is this, WeWork’s IPO, mack move or whack move?
26:18 NC: I’m gonna say that it’s a whack move because a lot of these companies are inflating the shit out of their company…
26:27 SJ: Valuation.
26:27 NC: Their valuation and there’s nothing to really back it up, which we have spoke about before. And it’s basically almost like a, it’s kind of almost like a Ponzi scheme to a certain extent, the guy on the top.
26:38 SJ: They’re burning cash.
26:39 NC: Yeah, they’re burning cash and they’re trying to create this fictitious number. But I’m gonna go whack move on that ’cause I, I hate that shit. But I get it, it could also be the market and you could be, it could be based upon potential. So I don’t know all the exact numbers or the details behind it but… So what… The whack… The move… What are you saying the not going public is it whack or…
27:00 SJ: The question is WeWork’s IPO, is them going public with an IPO, a mack move or a whack move?
27:05 NC: That’s a whack move. And not because of the reasons you said, I think… Look, all public companies are inflated. They trade at a multiple of earnings, some of them don’t even have earnings. We deal with a lot of companies…
27:16 SJ: This is one of them.
27:17 NC: Yeah, they have no earnings. There’s public companies out there trading on the OTC markets and on the NASDAQ today that not only do not have earnings, they have no revenue, they have no business model. I have public company clients that come through to me write up a business plan…
27:30 SJ: It’s all speculation.
27:30 NC: There’s nothing there, exactly, it’s buyers and sellers. It’s like Bitcoin, right? If you got buyers, two buyers and sellers. Now if I’m gonna invest in there I’m super pissed because an IPO is a liquidity event. That’s what it is, it’s a way to get out of the investment. So if I’m an investor I’m pissed, but if I’m the CEO, I’m not worried about my investors, I’m worried about building a great business.
27:49 SJ: Alright, I like that answer.
27:50 SJ: Yeah, I’m gonna go whack move as well, because of both of those reasons. But I think that in this business model, I read an article about this that says, in this business model, only the primary, the first round primary shareholders and the people who’s founded the company, so the founders, are either gonna be the only ones making money on this. There’s no projection for this company to start making actual revenue in the next couple of years. There’s no… They don’t project to even be making any money in the next couple of years, so…
28:22 NC: Yeah, but you don’t need to make money to get your financiers and your investors out. You get them out every round, so you get, you have one round valuation at $100 million, that person buys in, the next person buys in at $200, the next person buys in at $300, the next person buys in at $400, you have a one billion dollar IPO, everybody’s happy.
28:38 SJ: But it seems like they’re already at those inflated numbers.
28:41 NC: Yeah, I know. But usually it’s like… The problem is there’s no liquidity when you’re a private company. So you can have a $40 billion valuation as a private company, but you can’t get out unless you get a Sequoia Capital or another venture capital to buy you out.
28:54 SJ: Buy the whole thing out.
28:55 NC: Yeah, on a private round. Once you’re in a public situation you just go in your Ameritrade account and sell it out. So as an… If I’m an investor, I want the IPO. If I’m the CEO, I don’t need the added stress of New York Stock Exchange regulation and Securities and Exchange Commission regulation, I don’t need that right now.
29:13 SJ: Yeah, exactly. Alright, cool. So, topic number two.
29:18 SJ: Topic two.
29:19 SJ: Little sports business.
29:20 SJ: This, and I keep joking like this, like this is the OJ trial because really the amount of media coverage that’s gotten is amazing. But Antonio Brown released a video of a phone call between him and Coach Jon Gruden. He signs… Immediately afterwards he asks to be released by the Raiders and then within hours of being released by the Raiders, Raiders becoming a free agent, he signs a contract with the Patriots. There’s a lot of different takes on this right now, but the mack move or whack move is this, AB signing with the Patriots within hours after being released from the Raiders, mack move or whack move?
29:58 SJ: I’m gonna go…
30:00 NC: Hold on, let me go first. I don’t wanna copy you, I don’t wanna copy you. I’m gonna go with a mack move, man. Any time you’re joining the winning team, man, [chuckle] give me that, give me that, man. You know this is a business move, these guys are, this is a business move, man. It’s all about the money for them man. You’re basically joining the Yankees. You know what I mean?
30:20 SJ: So I’m gonna go whack move. I hear what you’re saying, but the way he went about doing it I think was just horrible. You know what I mean? I think he had a plan, so I guess he consulted with social media people on what he could do to get cut from the team. So that’s why he got a $55,000 fine which, who gives a shit about? Why would he get mad about a $55,000 fine when he’s making $15 million and then he posts that knowing that they’re gonna fine him again and suspend him, so it’s just the way he went about it. I agree with what you’re saying, but also he didn’t kill anybody unlike OJ, who did kill somebody. He didn’t kill anybody. I mean, it’s weird, he kinda seems like he’s a little crazy, but I think a lot of it was pre-meditated. The Patriots… The Steelers were not gonna trade him directly to the Patriots, so he had to find another route there and that happened to be through Oakland and kind of use them as a…
31:15 NC: You don’t think that some of these organizations are doing the same thing when they’re benching players, and they gotta…
31:19 SJ: Oh yeah, there’s always… There’s tons of collusion going on with inside of sports in general. Yeah, but I get it, yeah, I get it.
31:26 SJ: I think it’s a business move, I think it’s a business move.
31:27 SJ: Get your shit while you can, get your shit while you can, run to the bag, run to the bag and to the team, run to the team with six rings.
31:31 SJ: That’s what he did.
31:31 NC: Hey, listen man. That’s a short… That’s a short lifespan, that’s a short lifespan. Entrepreneurs live longer than football players man.
31:38 SJ: No, oh man. They gotta make their money.
31:38 SJ: Yeah, they do. They gotta make their money quick, because they gotta go give it to their friends for their dumb restaurant ideas and shit and have them blow through it, right?
31:46 NC: Over there Chase, what do you got?
31:49 SJ: I’m gonna actually go mack move on this one, run, #run2thebag. The way that he did go about doing it with 20-20 hindsight. So you look back at everything that he did, and you’re like, “This was so clearly a set up to go to the Patriots.” Which is kind of a stab in the back. The only reason I’m giving him a mack move is because it’s about the money and he’s running to the bag.
32:10 SJ: And he didn’t hurt anybody, he didn’t really hurt anybody.
32:10 SJ: And, ultimately, I watch videos of him and I watched the way he is and everything, and I actually like AB, he’s a talented guy and all of that stuff, just the way that he went about it. Can you think of a dumber thing to stake your entire NFL career on. It’s like a helmet from the 1990s that’s not getting approved.
32:27 SJ: ’90s?
32:28 SJ: You’re gonna be like, “Oh no, I can’t play unless I… ” It’s… When was it from the ’60s?
32:33 SJ: ’60s now.
32:33 SJ: It’s a joke, it was a joke. He goes into…
32:35 NC: You know they had a conversation about this whole thing before they did it.
32:37 SJ: And that was an endorsement deal without a doubt, the guy is just making moves left and right, which is hilarious. He forced his way out of two teams before this… In one off season, he forced his way out of the Steelers and then he forced his way out of Oakland before a season even happened, he did it twice.
32:53 NC: Contracts are meant to be broken, man.
32:54 SJ: It’s true, that’s true.
32:55 SJ: It was a Mack move. Alright…
32:56 SJ: Alright, topic number three.
33:00 SJ: This one actually…
33:03 SJ: This is interesting.
33:03 SJ: This one’s interesting. You don’t actually…
33:04 SJ: Something we talk about often.
33:05 SJ: You don’t actually have to see the video to get what we’re talking about here, but there is a video just so you know ‘Texas Donut Shop shames woman caught stealing from display case’. So here’s the story. Apparently, a woman broke into the restaurant and stole about two dollars worth of donuts. The company, they’re called Hurt Donuts, they posted the video on social media, they made all these jokes and puns, they said, “Wow, that’s messed up, we were the victims of a Hurt-and-run”, the name of their donut shop is Hurt Donuts, “I guess this is what happens when your Instagram career just isn’t taking off and you can’t afford your donuts. Someone come get your girl.” So anyway, they were riding this wave in such a way that it made it seem like this whole thing was set up for a social media publicity stunt.
33:56 NC: Yeah, yeah. They were trying…
33:58 SJ: The thing is… And this is something that we discuss all the time, which is basically staging these types of thing to get…
34:05 NC: It’s not uncommon, it happens. It happens for sure.
34:07 SJ: No, and that’s kind of basically… The question is whether it’s a mack move or a whack move to stage something like this?
34:15 SJ: So you know you see the gym videos, you know the gym videos, right? You know the gym, you know there’s not that many dudes out there doing those weird ass exercises.
34:26 NC: And it just happens to be getting caught on camera.
34:28 SJ: My boy’s a trainer and I even said, “Let’s go to the gym and I’ll be that guy.” You know what I mean? I don’t care, I’m down for that, I think it’s funny. So I’m gonna go mack move because I don’t really care. Ultimately, the views will determine whether or not it works or not. And I gotta be honest, the only thing that’s better, I think than staging something like that is when you get accused of staging it, because then it goes to the next level. Now it’s like you have to purposely get caught doing it to really heighten it. Listen, it’s what people do, people are doing it more and more, you see it happening left and right on social media because we stupid on social media and we’re a bunch of sheeple and I’m down for it, so mack move on that. What do you got?
35:16 NC: I’m gonna go… So the question is, staging it…
35:20 SJ: Is staging a video that’s gonna get you views and get you notifications?
35:25 NC: If you guys know me, you already know my answer. That’s a mack move, man. Come on.
35:29 SJ: Who cares? You’re getting the spotlight.
35:31 NC: Market, market, market. You gotta run to the bag. Before you run to the bag, usually if you do your job right, the bag runs to you. [laughter] If you market right, the bag will run to you, it will chase you so I’m totally with that, man. I think they’ve been doing it way before social media, staging events and staging these… Reality television isn’t reality television. People are convinced that their day was really like that, Kim Kardashian’s day was really like that. But no, she had a script, and she wasn’t word for word, but they pretty much knew what they were gonna tape that day. I’m with it, man. And if you guys ever wanna stage anything, let me know. I’m with it.
36:12 SJ: Let’s do it. Let’s do it. We’re in on it. We needed a fourth, right?
36:15 SJ: I feel like we need to talk about what’s the other side of this argument though, what makes this a whack move?
36:20 SJ: Some people think that that’s… You shouldn’t get…
36:23 NC: The people that are fooled.
36:26 SJ: So that’s it? Just being dishonest?
36:28 SJ: They’re like “Oh, I wanna see everything to be real, I want it all to be natural.”
36:34 SJ: Yeah, yeah, yeah, okay. Then that’s it? That’s the other… Then obviously, it’s a mack move. There’s no whack move here. If no one’s getting hurt. If they set it up, no one’s gonna…
36:43 SJ: You’re gonna be in a big trouble if you went whack move.
36:44 SJ: No, I would never…
36:45 SJ: Because we’re so on the verge of doing this, we’re just trying to find the right shit.
36:49 SJ: I know, but we gotta talk about the other side, we can’t just…
36:52 SJ: Yeah, no I know. The real… The serious people that are just like real serious about everything, that are like, “Oh, that’s not good.” Those people are gonna be in a rear view.
37:03 NC: There’s somebody that’s gonna say something about meth, that has a cousin that’s on meth.
37:09 NC: There’s somebody that’s gonna say that.
37:11 SJ: Someone’s gonna get offended.
37:12 NC: Yeah, someone’s gonna get offended. It’s funny, ’cause when you said that, I didn’t know where the question was going. And drama… Obviously, it’s why ‘Days of Our Lives’ and all these soap operas were so successful for so long every single day, drama sells. And I’ll tell you, I don’t have much experience going viral in that sense, but the little times I’ve seen spikes in my Insta stories or my Facebook stories… For example, I had one guy comment on one of my videos, and I chewed him out, and I was just in a bad mood. I usually take the higher road, I’m usually like, “Just let that go.” But I copied his comment, I put it on my Insta stories, I’m like, “This dude’s wack. This is why he’s wack,” and it was very engaging, everyone started engaging with it, and even the people that I didn’t think were watching…
38:00 SJ: Drama sells.
38:01 NC: Dude, drama sells. They were like, “Oh, Nick, you shouldn’t do that. You shouldn’t call… ” And I was like, “Dude, I never hear from you.” And all of a sudden…
38:09 SJ: This is what you want? Well, I’m gonna give this to you now. You want a show?
38:14 SJ: Are you not entertained?
38:15 SJ: It will be like, “Here you go. Here’s another screenshot of me telling somebody off just ’cause I wanna tell them off, here is the video of me yelling at somebody for not going right on red.”
38:24 NC: I’m with that. Listen, I’m with that. I’m with that. And I think that if it’s real, it might even be better.
38:31 SJ: Yeah.
38:32 NC: I follow a fashion designer, Philipp Plein, and he took a couple of pictures in front of his Ferrari with his sneakers. Ferrari sends him a cease and desist letter to take the pictures offline.
38:44 SJ: Oh, wow.
38:46 NC: He copies the cease and desist letter…
38:47 SJ: Yeah. And then he blew up.
38:48 SJ: Puts it online and it’s just like boom!
38:51 SJ: I totally heard about this, I think. Yeah, yeah.
38:53 NC: Well, that’s what happens. That’s what happens with these things. They say the best ideas spread. The best ideas, you can’t force out there. The best ideas naturally just spread themselves and that’s what… The whole idea of viral is the idea that you put… I force this on our Facebook, we force this on our YouTube, that’s cool, but if something clicks and now this person has to share it over there, that’s the best marketing today.
39:20 SJ: Agreed, agreed. And shout-out real quick to John Margiotta, my boy from Waterbury, who doesn’t say the video goes viral, he says the video goes spiral.
39:30 SJ: Shout-out to JM.
39:33 SJ: Spiral video.
39:33 NC: I’ve never heard that one.
39:34 SJ: Shout-out to you, JM. Shout-out. Alright, topic number, where are we at? Four or five?
39:39 SJ: No, we’re at five now, I think. Yeah.
39:40 SJ: Alright, we’re at five.
39:41 SJ: We’re at five. Alright, topic number four.
39:46 SJ: Four.
39:48 SJ: I can’t count.
39:49 SJ: We’re learning how to count today.
39:50 SJ: We’re learning how to count on this podcast.
39:50 SJ: This is gonna be interesting.
39:52 SJ: So, alright, this has been hotly debated for a long time, but California is finally putting their foot down. California lawmakers pass a bill allowing college athletes to profit from endorsements or any company that uses their likeness in order to sell a product. The bill if it becomes law would go into effect in 2023, though none of the bill’s provisions involve schools paying athletes directly, it would prohibit schools in California from revoking scholarships or scholarship eligibility from athletes who profit from their own name, image, or likeness. So, makes sense?
40:25 NC: I’m gonna go Mack move, because I wanna sell social media to college… I wanna start branding college kids in social media. Get to them young. Start showing up at pee-wee games and being like, “Hey boy, filled out that profile for you!”
40:40 SJ: Of course you go young. Of course you go younger than you’re allowed. You go to high school.
40:44 NC: “You look like you got a player there, want me to set up a Facebook profile for him?” Yeah, so I’m gonna go Mack move. These colleges and the NCAA… Times have changed. I feel as though yes, they’re getting a scholarship, but I don’t know how this is gonna work with the NCAA. They have a shit ton of money, and I’m going to say, they are gonna shut this bill down. Somehow, someway, the NCAA is gonna make it where this doesn’t happen, because it’s too much money out of their pocket and the other side doesn’t… Unfortunately, that’s how a lot of this shit works. But I’m gonna go Mack move. I feel like the players should be able to make money and if it’s just gonna be California, holy shit, everybody’s gonna be going to California schools. Right? So how is it not… Once they do it, if they get it, then every state is gonna do it.
41:28 SJ: All the best athletes, they’re gonna go to California.
41:30 NC: No, but every state’s gonna have to do it. Otherwise, they’re gonna be at such an advantage. You could be like, “Oh I could go play here or I can go play there and get some CPM on my views.”
41:39 SJ: Well, yeah, they have to set a precedent with this.
41:42 NC: Yeah, so I go Mack move. What do you got?
41:46 SJ: Man, I don’t know, there’s so many different dynamics here. My normal intuition says Mack… You gotta go, you gotta go, I got to think about this one.
41:56 SJ: Mack move, it’s about time we level this playing field. Why is the NCAA making billions and we got D1 athletes who are starving, can’t even afford dinner at their own lunch hall like they ran out of lunch points? What, are you serious? This dude, this dude’s probably… You have no idea the schedule these kids go through too. The rigors of the…
42:12 NC: And they also get shit, yeah, but not all of them.
42:14 SJ: It’s unbelievable.
42:14 NC: Only the top, top ones get shit. I get it, but I’m saying there’s a guy that’s…
42:18 SJ: They’re not even supposed to get.
42:19 NC: No, they’re not supposed to, they’re not supposed to at all. But I’m not talking about those guys, because you know that they’re getting cars and their family’s getting shit, ’cause that’s just been proven. These guys get busted at all the time in colleges, but I’m talking about the mid-level athlete that is a fan favorite, you know what I mean? I feel bad for him, ’cause like you said, he’s hungry, he wants to eat.
42:39 SJ: Yeah. Are we watering down the NFL and professional sports, by making celebrities of these younger guys who probably…
42:46 NC: They already are.
42:47 SJ: Who probably who won’t go to the NFL.
42:48 SJ: That’s true but…
42:50 NC: But they already are.
42:50 SJ: They could be college superstars.
42:54 SJ: I think it’s kind of separate.
42:54 SJ: They could be college, you know what I mean? Maybe they can have a career in broadcasting because of it, if they’re good. Who knows, right?
43:00 SJ: So, the question is should these kids be able to be paid, basically.
43:05 NC: Yeah.
43:06 SJ: College athletes.
43:06 NC: Yeah, I got to go with that’s a Mack move and you got to pay them.
43:10 SJ: It’s sticky though. It is sticky, it’s really sticky.
43:12 NC: I don’t know, because I feel like you should be… There’s so many players that are going on scholarship, that are not going to make it to pro-football or pro leagues, and they’re there because they’re gonna get a free education. So, there are those situations. I totally feel you man, the guys don’t have money in there, that’s ridiculous. But I’m just gonna go with Mack move, because I’m with you guys, man. They make so much damn money off of them.
43:38 SJ: They do.
43:38 NC: Pay these boys.
43:39 SJ: But, it is really sticky too, though. There’s gonna be some shit where it’s like, this dude’s gonna stay in school for four years ’cause he’s gonna be getting $3.5 million a year. That’s where we’re heading.
43:50 NC: That’s the thing, that’s kind of why I was debating it, ’cause like, now is he going to college or is he going to a career?
43:57 SJ: Yeah, that’s what I’m saying. I feel like it might make them stay in college longer possibly because now they don’t need to go…
44:03 NC: Or even just go to college ’cause you got the players that are not… They’re skipping college all together right now because of the money, but I think you should pay them, man. Those guys, they’re eating way too much off of them. I think it started as a good thought process. Give them a scholarship and they’ll play, but now that’s a multi-million dollar business.
44:19 SJ: Yeah, but technology… When they wrote that law and when they had that in place, technology isn’t what it is nowadays.
44:26 SJ: Yeah, we need to update it.
44:26 SJ: It’s not what it is.
44:28 NC: And the finances aren’t what it was. Guys are making so much money.
44:31 SJ: I don’t think that college athletes should be making millions and millions and millions of dollars. I just think that the NCAA shouldn’t be milking this, while there’s kids who are starving, who are playing D1 sports, and they’re literally working for… They’re basically unpaid employees of the school.
44:46 SJ: Do we know who the number one highest paid state employee in Connecticut is?
44:50 SJ: No, do we?
44:50 SJ: UConn coach.
44:53 SJ: Yeah.
44:53 SJ: Geno Auriemma. He gets paid a lot. Number one state employee. He’s a state employee. It’s fucking nuts.
44:58 NC: Yeah.
45:00 NC: He probably makes like…
45:00 SJ: Yeah, I totally forgot about that, I read that somewhere though. When you said it, I remembered.
45:01 SJ: How much does he make? $10 million?
45:03 NC: I think it’s like 11 million.
45:03 SJ: It’s a ridiculous amount of money.
45:04 NC: I think it’s 11 million a year, I think.
45:06 SJ: It’s unbelievable.
45:07 SJ: They built that school.
45:09 NC: Well no, he what he did for that… He’s probably worth every penny.
45:13 SJ: Alright, let’s get on to the last Mack move or wack move topic. This one is the most interesting one to me.
45:20 SJ: Oh my God, this guy is the overtime GOAT.
45:21 SJ: This is actually from a while ago, but since you’re an entrepreneur, we’re all… I thought this would be an awesome question, for all three of us. So, there’s a railway worker out there, works for the MTA. He’s a worker and engineer. He gets paid $117,000 a year… Alright, his job is pretty hard. He’s a skilled worker. But last year, in 2018, he made over $344,000 in overtime. From the state. So we’re talking from the state.
45:49 NC: Yeah, so we’re talking for my tax dollars. Yeah. Yeah.
45:51 SJ: Yes.
45:52 SJ: So we’re talking this guy worked between roughly 60 to 80 hours per week. Possibly, even 100 hours per week. On the railroads grinding away, wasn’t with his family, for a whole year. Now, here’s the other part about this, here’s the other part about this, this one makes me think this guy’s a genius. He now bumps his pension up into a different class likes he’s now in a higher…
46:19 SJ: Yeah, Yeah. Exactly, yeah.
46:19 SJ: Right? So he’s gonna be making more money.
46:21 NC: A lot of the cops, firemen they all do this. Yeah, yeah, yeah.
46:24 SJ: So my question is, it’s really like you’re sacrificing a year of your life because you’re not doing anything else besides just sleeping, eating and working.
46:33 NC: Yeah.
46:34 SJ: To make that extra money to run that bag.
46:36 NC: No, I’m gonna say it’s whether he should be able to make it or not, should that be available for him to make it or not.
46:44 SJ: Okay.
46:44 NC: That’s what I think, that’s what I think yeah, don’t you think? There’s two different questions there cause my other other question is, is it worth it to work yourself like that? But…
46:52 SJ: Well for sure, it’s worth it…
46:53 NC: Yeah, one year it’s definitely for own thing my thing is like, for him, so I’m gonna say for him, it’s a Mack move because he’s taking advantage of the system, that’s available to him. I think the system is a wack move.
47:10 SJ: For sure.
47:12 NC: So I’m all for this man, this is available to him, he’s not gonna be like… Well, this isn’t right, I shouldn’t do this because it’s available to me, but I’m just too good of a person, to do a… Yeah, no, he’s not who do that.
47:21 SJ: I’m high fiving anyone who does that.
47:22 NC: But I will say that whoever the fuck set this up is an idiot. Like you could literally have… Why is he working overtime? Hire another employee, like what the fuck but they get it, I get it, it’s all part of the contract, it’s all part of the whatever. So I’m gonna say he’s crazy and he busted his ass for the one year and…
47:42 SJ: 300. What you say three? $344,000.
47:44 NC: He basically almost made three years of his salary within one year.
47:49 SJ: And now I’m pretty sure what does he do like 50% of that in his pension.
47:52 SJ: Yeah.
47:53 NC: Probably, yeah.
47:54 SJ: It won’t tell us that.
47:55 SJ: Hopefully the MTA was gonna put the pension to a…
47:58 NC: He’s like a C-level executive retirement plan.
48:00 SJ: His name is out there, his name was in this article ’cause he’s a state employee.
48:04 NC: Call he we need investors.
48:05 SJ: We could get him on the podcast.
48:07 NC: Let’s get an interview with this guy. Let’s get him on the podcast.
48:08 SJ: We need investors.
48:13 SJ: That’s awesome. That’s awesome. So what do you got?
48:15 NC: I’m gonna go with you. I think it’s a Mack move for him. I think it’s a wack move for everybody else, the government and all of us because we’re gonna end the paying that. You got cities like Detroit going bankrupt. I have, this is a sore spot for me, so I have one whole side of the family that’s teachers.
48:32 SJ: Yeah.
48:33 NC: And every once in a while, somebody tells me, “Nick, you show run for mayor.” And I’m like, dude, if I ever get into politics, one they’d shoot me ’cause…
48:40 SJ: Yeah.
48:40 NC: I’m just too flagrant. Two, I’d probably fire every teacher and every fireman, and everybody out there that has $120,000 pension to come in. Because it’s like, dude we can’t… It’s not sustainable, they put that system in place.
48:52 SJ: What’s an increase? It’s a percentage increase every single year. But yet, but yet, and it’s the same thing with town taxes too. It’s the same shit that I see every year.
49:04 NC: Mathematically, it doesn’t make sense.
49:04 SJ: We can’t make the income yeah, if it doesn’t, if that money is not coming, then who’s paying that?
49:12 NC: So I think it’s a zero sum game. I think the government’s crazy for paying out all these big salaries for so long. They say some teachers are underpaid. I think in some geographies are underpaid and in some geographies are overpaid.
49:22 SJ: Yes, I would agree.
49:22 NC: Same thing with cops and firemen, you know there are some places they’re super underpaid. You go to New York City, super underpaid. You go to some of these rich towns in Connecticut, they’re doing okay, they’re doing pretty damn good you know. So I think it’s a wack move for us to have to pay all that man.
49:38 SJ: Yeah. Chase?
49:39 SJ: Mack move for this guy. For what he’s doing, we actually need more… Like I’d love to interview this guy.
49:45 NC: Yeah. I know a ton of fireman and the cops doing the same thing.
49:49 SJ: They know how to… Whenever you see a cop out on the street duty…
49:55 NC: He’s on over time.
49:55 SJ: He’s on overtime. Why not? Why can’t we just hire a cop? He doesn’t even need to use his gun, he doesn’t, he’s like a… Level above a real cop and can then direct the traffic and we pay this guy a lot less.
50:05 NC: Or just give the guy a yellow shirt.
50:09 SJ: That’s what I’m saying. Can we outsource the traffic patrol, please? To something like…
50:12 NC: Well, I think that’s what’s gonna happen.
50:14 SJ: Eventually. Yeah, ’cause they’re gonna run out of money.
50:15 NC: Yeah. We’re gonna have to…
50:17 SJ: Alright, that concludes episode what? 36? That’s what we’re at? 36? That it concludes Episode 36. Our boy Nicky in the house.
50:30 NC: Nicky nice brands.
50:31 SJ: Had awesome time with you brother.
50:32 NC: Hey, I appreciate it man.
50:34 SJ: Thank you so much, we’re gonna definitely do some more shit together.
50:34 NC: Yeah, dude let’s create some videos.
50:35 SJ: We’re gonna do that viral video.
50:37 NC: Yeah, let’s do it dude.
50:38 SJ: We’re gonna do some shit man. We gotta have you as a guest judge on the Mack tanks, when that comes out.
50:45 SJ: I am pushing for the Mack Tanks, so hard.
50:47 NC: What is the Mack Tank?
50:49 SJ: It’s Shark Tank.
50:50 SJ: But we’re gonna do our own version of it, and we’re gonna have interns coming in, like pitch ideas, and stuff for businesses. We wanna have you on because you’re an expert in business bombs.
51:00 SJ: ‘Cause you’re gonna shred that.
51:00 NC: I will shred that.
51:02 SJ: Hey, before you go run to the back, go run to the bathroom redo that business plan. What the hell are you doing?
51:08 NC: You don’t know how many clients come through the door, and I’m like, “Dude, you do not need a business plan and you need to get up off your ass and get to the work?”
51:13 SJ: Yeah, exactly.
51:14 NC: Just move your shit.
51:15 SJ: Business plan is only when you have the business plan you still need to go do that, right? So you might as well, do that as you’re doing…
51:22 NC: Then figure it out. For sure.
51:24 SJ: Alright, so Chase is gonna close us out. Thank you so much for joining us.
51:27 NC: Hey I appreciate you guys, man.
51:28 SJ: He’s gonna give us everybody’s handle. And then we’ll go from there.
51:31 SJ: Alright, thanks for joining us, everybody. If you’re looking to learn more about Nick you can visit his website www.nicolascoriano.com. Find him on Twitter Nicolas Coriano, and on Instagram @Nickynicebrands also visit Homescape or Servitude if you’re looking for business modeling services or any of the services that he provides. Nick, thanks so much for coming on our podcast.
51:53 NC: Appreciate you guys. Had an awesome time.
51:55 SJ: For all our listeners, if you wanna find out more about the Mac talks how to listen, watch and subscribe, visit our website, themactalks.com if you like, our content leave us a review on iTunes, every review makes a big difference subscribe to our YouTube channel, like us on Facebook, and follow us on Instagram.
52:12 SJ: Do all of that in the same motion, So… Alright, thanks, Nick and we’ll see you guys next time.
52:16 SJ: Alright, thanks.
52:17 NC: Appreciate it guys.