- [Gary] Great meetings all day long.
You know trying to create
some meatiness to this episode, Tyler.
Otherwise you're gonna have a tough time but editing it.
(tape rewinding)
("Monday To Monday" by Saba)
- Saba, I've been telling you.
Good morning Instagram.
It's me Gary.
Instead of a motivation quote or some sort of clip just want to
go camera to face.
Just tell you how much I appreciate you. All of you guys.
Your attention means the world to me.
I'm humbled by the thousands
of emails and DM and tweets and
comments on YouTube and the value that I'm bringing to you
and your feedback is the value you bring to me.
I'm just so thankful.
So thankful for everything that's going on and wish you
guys the best week.
Happy Monday.
It's gonna be the best week of your life especially if you take
the bull by the horns.
Just fucking take control.
Take it.
Have a great week.
("Victoria" by Sonder)
This is something I've spent a lot of time on.
Because I was gonna go right after it as a media company and
this is such a natural for this company.
So, anyway, we should win this.
It'd be stupid not to.
And honestly, I think that's the punchline of this episode which
is like look I think the thing that is really fascinating about
this vlog and about being an executive at this scale is
there's some days that are enormously predicated on
conversations that I can't share with the world but I can give
you some themes.
I think the thing that people need to remember is if you're
running a business you're either going to be financially based in
the short term or the long term.
Think one of the themes for me today is being an executive is
I continue to be proud of the fact that I make decisions for
the long term because unless I'm looking to sell my business,
which I'm not,
there're always going to be long term games, right?
So why make decisions, you know, so many of you are going to run
into money for the first time this year and you're gonna make
$130,000 instead of $60,000 for the first time and what you're
gonna do is go buy stuff.
You know you've been waiting so long.
This is a good way to cut in
the #AskGaryVee with Eric today, right?
Hey everybody it's Gary Vay-ner-chuk and
this is episode 243 of
The #AskGaryVee Show.
Erik Wahl, welcome to the show. Thrilled to see you my man.
He talks about getting used to patience.
- I've learned more patience in the last 12 months than I've had
to endure my whole life.
- Woah, woah, woah.
Before we get into this phone call, I'm sorry.
In the last 12 months? - Yeah.
Should I get comfy on the couch? - Yeah.
- Do the psychology thing. - You intrigued me.
Yeah, tell me that.
Or his struggle with loving every part of the journey or
I've put in so much work, don't I deserve now to cash in?
The answer is sure.
- I thought my brand was gonna launch.
I thought that I've done the 10, 12 years of slaving away doing
100 shows a year.
Logging 250,000 miles--
- That assumes you went out where they did the videos and
all this that you know, huh.
Dude, shit, man.
Fuck, you can cash in anytime you want.
The problem is when you cash in you cash in.
And what do I mean by that?
I mean that the second you cash in your taking money out of the
kitty that can be in investing and you're converting it into
something short term which is your prerogative.
Like do you but one of the missions
I have here is to teach
people how to build big things.
Honey Empire and the way you build big things is continue to
invest in those things and so today's themes were very,
very heavy on how do I and why do I continue to invest in
divisions, agendas, people.
- Stay the course.
- [Gary] It's all that and right
but being somebody who's scaled
so much in his life it's about the unscalable scalable.
- Totally.
- [Gary] Strategies, infrastructure, departments.
I mean today was a full day of not being and
you know it's funny.
You caught any of the film of me and Allen?
The CFO from afar?
- [Other Tyler] Mhmmm. - Perfect.
That meeting in the middle or the beginning of the day is
very much short term.
Here are the financial realities you're dealing with.
Can you afford to invest in everything?
And the answer is yes and no
and so I think the balance of where you're going
and what you want in the short term versus the long term is a
difficult one for all of us.
But I do implore all of you that are watching,
I implore all of you watching, the more you can invest in the
long term, the more you will win.
Do a recall a little bit to Tony Robbins's quote from
#AskGaryVee about the market here.
- 80% of those corrections never become a bear market.
They all correct back just like last year.
But if you sold, you lose. - Of course.
- But then let's look at the crash.
Crashes happen every five years on average.
We've gone eight without one, that's why we're due for one.
- Mhmmm, mhmmm.
- And you're right to be somewhat prepared,
but while you're preparing, there's opportunity that's
happening because, first of all, every bear market lasts on
average a year.
- That's right.
- And here's the one thing I want people to hear,
in two centuries of American Business,
every single bear market was followed by a bull market.
So you remember 2008, and people lost 50 percent?
- This is where-- - It went up 69%.
- If you take the money out of the market over the long term
you tend to lose.
If you decide to make more profit in your business this
year because you want to buy something,
those are dollars you can't use to build your foundation.
I think a lot of you are building very small businesses
or smaller than your ambition is because you need
too much in the short term.
You're taking too much out in the short term and so I continue
to be very passionate
and very, very focused on investing in the
long term at the expense of some of the short term luxuries.
Maybe I can't have some of the things that I want but I've
noticed some of you saying GaryVee it's cool to see you
take an economy seat in a plane.
Or it's super funny to not see you be fancy.
It's because I'm investing in my future.
You know if I go private jet for
$15,000 instead of economy for
$500 that's $15,000 that I can invest in the longer term and so
instead of having a private jet I end up the New York Jets.
And so, what's really important about you guys following this
journey I hope, what I hope my legacy is
is that not only am
I talking in this rant about long term investment you'll be
able to actually physically watch this over the next 5 to
10, 15 years of what long term investment means.
In relationships like my man Babin here.
In strategies of a lot of behind the closed door meetings where
today I made decisions that are not in my best interest short
term and really in just the way I live my life.
Financially, professionally and as a dude.
Really speaks so I don't charge you guys for stuff.
I don't want your short term dollars.
Goes down 33 percent, but you don't lose 33 unless you sell--